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Whether he is right or wrong, when Lighthizer was on 60 Minutes, he said they have tried everything to level the playing field, and nothing worked. So this time

Whether he is right or wrong, when Lighthizer was on 60 Minutes, he said they have tried everything to level the playing field, and nothing worked. So this time, there is nothing to lose. It is a very good interview and discussion. https://youtu.be/KwUG2bOHqFA?si=DKm2Y_I53Qdfuh-b https://youtu.be/KwUG2bOHqFA?si=DKm2Y_I53Qdfuh-b

threeseed 2y ago
If you want to make a level playing field have FTAs or impose tariffs on just those countries. But to impose them on 60+ countries at once for arbitrary reasons makes absolutely no sense.
KennyBlanken 2y ago
Reports are that Trump ignored all his advisors and did what he wanted so your point isn't relevant. I haven't heard a single analyst find sense in how tariff levels were set per country - someone did notice that it appeared a very simple formula had been applied, one that has no basis in economic theory. Go open 10 year chats for the GDP, S&P 500, etc. There was no problem with "level playing fields." All of this is just one man who for forty years has been obsessed with how "we" are supposedly being "taken advantage of." The economy overall was doing fine - intense economic stratification is a problem, but overall the country's economy was productive. Man steps in, inheriting a growing economy doing just fine...and after months of uncertainty and upheaval, in two days erases a year's worth of economic growth.
- wredcoll 2y ago
  > Man steps in, inheriting a growing economy doing just fine...and after months of uncertainty and upheaval, in two days erases a year's worth of economic growth. He'll never get away with it a third time!
- Izkata 2y ago
  > I haven't heard a single analyst find sense in how tariff levels were set per country - someone did notice that it appeared a very simple formula had been applied, one that has no basis in economic theory. I find it funny people keep talking about someone figuring out it out when they actually published it, including the reasoning with references at the bottom: https://ustr.gov/issue-areas/reciprocal-tariff-calculations https://ustr.gov/issue-areas/reciprocal-tariff-calculations
  - olddustytrail 2y ago
    People figured it out first that what they'd done was tariff_rate = deficit / imports Then they published the above article trying to claim it was more complex than that, except people pointed out that the formula they gave reduces to tariff_rate = deficit / imports So it was a rather foolish effort.
  - rsynnott 2y ago
    Note the “find sense in” bit. People know how they did it, it’s just that how they did it is completely nonsensical.
deleted 2y ago
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threeseed 2y ago

If you want to make a level playing field have FTAs or impose tariffs on just those countries. But to impose them on 60+ countries at once for arbitrary reasons makes absolutely no sense.

KennyBlanken 2y ago

Reports are that Trump ignored all his advisors and did what he wanted so your point isn't relevant. I haven't heard a single analyst find sense in how tariff levels were set per country - someone did notice that it appeared a very simple formula had been applied, one that has no basis in economic theory. Go open 10 year chats for the GDP, S&P 500, etc. There was no problem with "level playing fields." All of this is just one man who for forty years has been obsessed with how "we" are supposedly being "taken advantage of." The economy overall was doing fine - intense economic stratification is a problem, but overall the country's economy was productive. Man steps in, inheriting a growing economy doing just fine...and after months of uncertainty and upheaval, in two days erases a year's worth of economic growth.

wredcoll 2y ago
> Man steps in, inheriting a growing economy doing just fine...and after months of uncertainty and upheaval, in two days erases a year's worth of economic growth. He'll never get away with it a third time!
Izkata 2y ago
> I haven't heard a single analyst find sense in how tariff levels were set per country - someone did notice that it appeared a very simple formula had been applied, one that has no basis in economic theory. I find it funny people keep talking about someone figuring out it out when they actually published it, including the reasoning with references at the bottom: https://ustr.gov/issue-areas/reciprocal-tariff-calculations https://ustr.gov/issue-areas/reciprocal-tariff-calculations
- olddustytrail 2y ago
  People figured it out first that what they'd done was tariff_rate = deficit / imports Then they published the above article trying to claim it was more complex than that, except people pointed out that the formula they gave reduces to tariff_rate = deficit / imports So it was a rather foolish effort.
- rsynnott 2y ago
  Note the “find sense in” bit. People know how they did it, it’s just that how they did it is completely nonsensical.

deleted 2y ago

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