Trade spat to dull expected tax cut boost to US economy: Reuters poll
The ongoing trade spat between the world's two largest economies will restrain the roaring U.S. economy, dulling an expected boost to growth from massive tax cuts passed through Congress just a few months ago, a Reuters poll found.
18 Apr 2018 08:25AM
Ricky Lim ·
A Reuters poll last month showed Trump's import tariffs would do more harm than good to the U.S. economy.
The latest expectations from a poll of over 100 economists taken April 9-17 suggest the White House's hopes for sustained economic growth above 3 percent will not be realized, which in turn may spawn future expectations for even bigger budget deficits over the coming years.
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Trump and his economic team are barking on the wrong tree.
Now it cause more harm than good not only to US businesses and consumers - but also to worldwide businesses and consumers.
A fool's stupidity knows no bound.
The only way to stop this madness - is to ensure that Trump lose the election - and a more wise and respectable President be elected.
The latest expectations from a poll of over 100 economists taken April 9-17 suggest the White House's hopes for sustained economic growth above 3 percent will not be realized, which in turn may spawn future expectations for even bigger budget deficits over the coming years.
--
Trump and his economic team are barking on the wrong tree.
Now it cause more harm than good not only to US businesses and consumers - but also to worldwide businesses and consumers.
A fool's stupidity knows no bound.
The only way to stop this madness - is to ensure that Trump lose the election - and a more wise and respectable President be elected.
LikeReply1m
Ricky Lim ·
Nearly 90 percent of 50 economists who answered an extra question said the trade row with China will hurt the U.S. economy.
"The United States is tightening its trade policy and moving increasingly away from the rules of the World Trade Organization. After applauding President Trump's tax cuts, the equity markets are less charmed by his protectionist threats," wrote economists at BNP Paribas in a note to clients.
"The proposed U.S. tariffs on Chinese imports would certainly disrupt the internationally sliced-up value chains. It is well-known that large U.S. high-tech corporates and retailers use relatively cheap Chinese labor to assemble their products and gross trade flows analyses may underestimate the disruptive impact," said Stefan Koopman, market economist at Rabobank.
"Raising tariffs on final and intermediate products that are shipped to the U.S. will crank up domestic prices for U.S. consumers and producers. As such, if these tariffs come through, it would provide another shock to the stock market and hurt producer and consumer confidence."
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Posted by :- Ricky Lim
It is very evident that Trump and his economic team - by harping on the trade deficit and fighting a trade war ---- is in fact barking on the wrong tree.
Trade (whether surplus and deficit) - should not be focus point - because trade bring the most cost effective resources, most cost effective products and services ==== which benefit worldwide businesses and consumers (including US businesses and consumers).
Trump and his economic team by forcibly intervene in the trade mechanism - are in fact doing US businesses and consumers a disfavor - because it force up prices in materials, resources and finished goods and services - by pulling out efficient global supply chain ---- into an inefficient and cost ineffective supply chain that distort the whole market mechanism and trade mechanism.
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"The United States is tightening its trade policy and moving increasingly away from the rules of the World Trade Organization. After applauding President Trump's tax cuts, the equity markets are less charmed by his protectionist threats," wrote economists at BNP Paribas in a note to clients.
"The proposed U.S. tariffs on Chinese imports would certainly disrupt the internationally sliced-up value chains. It is well-known that large U.S. high-tech corporates and retailers use relatively cheap Chinese labor to assemble their products and gross trade flows analyses may underestimate the disruptive impact," said Stefan Koopman, market economist at Rabobank.
"Raising tariffs on final and intermediate products that are shipped to the U.S. will crank up domestic prices for U.S. consumers and producers. As such, if these tariffs come through, it would provide another shock to the stock market and hurt producer and consumer confidence."
---
Posted by :- Ricky Lim
It is very evident that Trump and his economic team - by harping on the trade deficit and fighting a trade war ---- is in fact barking on the wrong tree.
Trade (whether surplus and deficit) - should not be focus point - because trade bring the most cost effective resources, most cost effective products and services ==== which benefit worldwide businesses and consumers (including US businesses and consumers).
Trump and his economic team by forcibly intervene in the trade mechanism - are in fact doing US businesses and consumers a disfavor - because it force up prices in materials, resources and finished goods and services - by pulling out efficient global supply chain ---- into an inefficient and cost ineffective supply chain that distort the whole market mechanism and trade mechanism.
Like · Reply · 1m
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