"Ships are docking/Planes are landing/A never ending supply" The Ramones
Apr 4 β’ 6 tweets β’ 2 min read
Re: @WSJ and @aduehren on "the surge in Chinese exports...helped hollow out the U.S. manufacturing base." US real manufacturing GDP is 42% higher than when China joined the WTO. Manuf imports from China increased $400 bil and US manufacturing GDP INCREASED BY OVER $1 TRILLION.
@WSJ @aduehren Is it too much to ask how a $1 trillion increase represents "hollowing out?" Sources follow:
Mar 15 β’ 23 tweets β’ 6 min read
Former US Trade Representative Robert Lighthizer recently had a piece in @TheEconomist on trade and tariffs. It may be the most far-fetched piece the magazine has ever published. I can't say for sure because I haven't read every issue since 1843. THREAD 𧡠economist.com/by-invitation/β¦
@TheEconomist Lighthizer: "Free-trade purists argue that tariff increases destroy capitalism."
What 95% of economists actually believe is more nuanced: Tariffs and import quotas usually reduce general economic welfare. researchgate.net/publication/35β¦
May 19, 2020 β’ 15 tweets β’ 3 min read
THREAD: In honor of World Trade Week, here are excerpts from Presidential Proclamations recognizing this week from Harry S. Truman through Donald J. Trump.
Whereas the right to trade freely is one of the marks of free people and an expression of their liberty...Now, Therefore, I, Harry S. Truman, President of the United States of America, do hereby proclaim the week beginning May 18, 1952, as World Trade Week
Mar 24, 2020 β’ 7 tweets β’ 2 min read
A few comments on foreign suppliers from new post, ntu.org/foundation/detβ¦
Koreaβs Kogene Biotech is exporting COVID-19 test kits to more than 30 countries, and the only reason its kits are not available in the United States is that the Food and Drug Administration has not approved the test.
Jun 24, 2019 β’ 14 tweets β’ 3 min read
Peter Navarro on @tomkeene@BloombergRadio just now: "We have the lowest tariffs, the lowest trade barriers in the world."
"Countries can charge US higher tariffs than we charge them, itβs endemic, it creates a large trade deficit, almost a trillion dollars a year." (Paraphrasing Navarro)
Jun 11, 2019 β’ 42 tweets β’ 6 min read
Some of the comments submitted to @USTradeRep on proposed new taxes on Americans who import from China: "We are concerned that this tariff could single handedly reverse over half a century struggling through the journey to support our large family and our many loyal employees."
"I am the sole supporter of a family of 4 with 1 child in high school and the other in college. The 25% increase will price our vehicles out of reach to our dealers and consumers as our market is very competitive. To put it simply, it will kill my business."
Jun 1, 2018 β’ 8 tweets β’ 2 min read
I should probably make this my pinned tweet: "We should beware of the demagogues who are willing to declare a trade war against our friends, weakening our economy, our national security, and the entire free world, all while cynically waving the American flag."
"... we should take a moment to recognize that one of the key factors behind our nation's great prosperity is the open trade policy that allows the American people to freely exchange goods and services with free people around the world"
