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unseen1 @unseen1_unseen
, 10 tweets, 2 min read Read on Twitter
1. Okay tired of the media pushing propaganda about tariffs at me. I can't figure out if they are liars or just stupid. Either way it's time to clear some things up.
2. First saying that the Bush And Trump tarrifs are the same and will have the same results is like saying a tax on beer is the same as an increase in income taxes.
3. The Bush tarrifs were selective. They ranged from 8%-30% and carved out many countries with exemptions. The Trump tarrifs are a flat 25% on steel and 10% on aluminum. It impacts every importer of those products, no exceptions.
4. The Trump tarrifs are issued under 232 authority for national security of a 1962 law whereas the Bush tarrifs where issued under the trade act of 1974 using a international trade commission a US agency. This is a big difference.
5. Bush worked against himself by granting more than 700 exclusions. In other words, Bush talked tough then caved to the globalists. Or to put it another way the tariff's main goal was political not economical.
6. Because of the authority Bush used for the tarrifs and the exclusions, other countries could and did fight them in the WTO. The WTO no longer a friend of the USA ruled against Bush and fined the US $2 billion. Bush was forced to cancel the tarrifs.
7. Trump using 232 national security authority means the WTO can go pound sand. The negative side is other countries can also bypass the WTO and issue their own countervailing tarrifs in response. ( I.e it allows for a quickly escalating trade war)
8. However the across the board 25% no exceptions means these tarrifs are economical not political. They are issued to protect the industries not for political reasons. However the timing I believe is political in some ways.
9. Another final point the media refuses to explain Obama issued 25 enforcement actions at the WTO including steel most aimed at opening up other markets not protecting ours.
10. Trade issues have been a preview of the POTUS since FDR. What Trump is doing is nothing new. The reason the globalists are all up in arms is because they know unlike the last several times these actions can work to change their game.
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