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To the editor:
In the past six months, President Trump has abandoned the global trade order that had stood for decades in favor of a drastically different and largely untested system.
Major economies are signing agreements that include the highest tariffs in modern history, acquiescing to Trump’s demands to avoid damaging trade wars. This marks the realization of Trump’s vision for global trade.
The new normal leverages America’s economy, forcing other countries to accept tariffs of 15 to 20 percent to conduct business with the United States. Higher rates will be imposed on exports of critical products, such as steel, from certain adversarial countries, like China.
Trump’s tariff threats have proven to be a powerful bargaining tool, as evidenced by the outcome. The muted market reaction to the 15 percent tariffs on Japan and the European Union indicates that the panic many anticipated from his earlier, more extreme levies may not materialize.
The president’s plan for global trade now looks like a political victory.
Clyde Prestowitz Jr., a former U.S. government official and the founder of the Economic Strategy Institute, observed that Trump’s America shared many similarities with the United States before 1946 and other nations, such as China, that established their economies through mercantilist policies. These policies employed protectionism to accumulate trade surpluses and wealth.
“It proved successful for the United States, France, Benelux, Germany, Japan, Korea, and all other nations that experienced economic growth,” Prestowitz said.
Trump is an economic guru!
Robert Sica
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fcannisi
The party of low taxes and free trade (GOP) now embraces imposing regressive consumer taxes and direct government interference in the private sector.
Milton Friedman and Ronald Reagan must be rolling over in their graves.
Tuesday, July 29, 2025 Report this
Valete
One of the great mistakes is to judge policies and programs by their intentions rather than their results.
Milton Friedman
Wednesday, July 30, 2025 Report this
Valete
I am certain that Reagan and Friedman are looking down from Heaven, smiling at Trump, and saying, “Win, win, win!”
Wednesday, July 30, 2025 Report this
fcannisi
The panic that "may not materialize" dragged the Dow down some 1,400 points or 3+ percent over the 5 days since Trump announced his EU deal. Additionally, the July jobs report was terrible, only 73,000 jobs added. It was the worst report in over two years. Plus, the past two months jobs reports had to be downgrade by 258,000 jobs. So what did Trump do? He fired the person in charge of reporting jobs data - Bureau of Labor Statistics Commissioner Erika McEntarfer.
Don't look now, but the economic guru isn't wearing any clothes!
Friday, August 1, 2025 Report this
Valete
Trump's tariffs are argued to be beneficial because they generate significant revenue for the U.S. government and aim to protect American jobs by encouraging manufacturing to return to the U.S. Additionally, they are intended to address trade imbalances and promote fairer trade practices with other countries.
BBC The White House
Economic Benefits of Trump’s Tariffs
Boosting Domestic Manufacturing
Tariffs are designed to encourage American consumers to buy domestically produced goods.
By making imported products more expensive, tariffs aim to protect and revitalize U.S. manufacturing jobs.
Revenue Generation
Trump’s tariffs have significantly increased government revenue, collecting over $152 billion from foreign imports in 2025 alone.
This revenue can be used to fund public services and reduce the national deficit.
Trade Deficit Reduction
The tariffs are intended to narrow the trade deficit, which is the gap between what the U.S. imports and exports.
By imposing higher tariffs on countries with which the U.S. has large trade deficits, the policy seeks to balance trade relationships.
National Security
Tariffs are framed as a means to protect national security by reducing dependence on foreign goods, particularly in critical industries.
This approach aims to strengthen the U.S. economy against potential geopolitical threats.
Negotiation Leverage
The tariffs serve as a bargaining tool in trade negotiations, pressuring other countries to agree to more favorable trade terms.
This strategy is intended to create a more equitable trading environment for American businesses.
Conclusion
( While Trump’s tariffs have faced criticism, they are positioned as beneficial for boosting domestic manufacturing, generating government revenue, and enhancing national security. )
Sources
https://www.bbc.com/news/articles/cx23jmvn5yzo
Friday, August 8, 2025 Report this
Valete
Report card on Trump’s first six months shows a lot of wins, a little room for growth
The Trump administration’s six-month report card.
Economy: B+
There has been much genuinely great news on the economy.
Trump’s tariffs
are bringing in substantial revenue to the Treasury,
Blue-chip companies have announced massive domestic investments in the U.S. economy.
Domestic policy: A
The administration’s broader domestic agenda has been extremely successful.
He has protected women’s sports and female federal inmates from intimate exposure to biological males, protected vulnerable, confused children from the irreversible depredations of transgender “medicine,” and crushed the modern racism that is “diversity, equity, and inclusion.
Immigration: A+
Trump has not disappointed on his longstanding signature political issue, immigration
Illegal border crossings and “gotaways” have dropped to historic lows as Trump, Homeland Security Secretary Kristi Noem, and “border czar” Tom Homan have overseen one of the most sweeping border security and immigration enforcement operations in American history.
Law: A-
Lower-court judges have tried to nip the administration’s agenda in the bud with ludicrous nationwide injunctions, but most of those acts of judicial hubris will be brought to heel by Trump’s recent Supreme Court victory in the CASA case.
Foreign policy: A
The Trump administration has reversed the Biden-era approach of rewarding geopolitical enemies and punishing geopolitical friends by returning to the more familiar approach he deployed during his first term: rewarding friends and punishing enemies.
Trump has brought peace to India and Pakistan, as well as Rwanda and the Democratic Republic of the Congo. A Russia-Ukraine peace deal remains elusive, but Trump has shown an admirable willingness to adjust in response to changing circumstances.
Conclusion:
There is undoubtedly much work left to be done. Trump would probably be the first to say that himself. But his second administration is off to a very strong — and fast — start. Carpe diem, indeed.
Sources:
https://www.latimes.com/
Saturday, August 9, 2025 Report this
fcannisi
Tariffs are a tax, period. Every penny raised by tariffs is a tax increase on American consumers.
Economists estimate the average U.S. household will lose $2,400 of disposable income per year by Trump's tariffs.
If Trump wanted to reduce deficits and/or fund public services, his Big Beautiful Bill would have raised tax rates on capital gains, corporate profits and top incomes. The BBB would have closed loopholes, ended corporate subsidies and NOT cut $1 Billion from Medicaid and food stamps.
Neither Friedman nor Reagan supported tariffs, ever.
Saturday, August 9, 2025 Report this
fcannisi
Correction: Trump's Big Beautiful Bill cut $1 TRILLION from Medicaid and SNAP!
Monday, August 11, 2025 Report this
Valete
“BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!”
Trump in Rhyme
Trump is no chump,
like former presidents.
He gets off his rump,
in times prescient.
A man for all seasons,
Trump is a deep thinker.
He governs and reasons,
a presidential freethinker.
Biden was bemused,
a presidential wreck.
Trump is effused,
his thoughts in check.
This poem is not amended;
words flow on moonbeams.
MAGA has transcended,
beyond our fondest dreams.
Monday, August 11, 2025 Report this
Valete
I reiterate, President Trump is an economic guru!
Monday, August 11, 2025 Report this
fcannisi
QZ, I will state this as plainly as possible - tariffs are a tax on AMERICAN CONSUMERS. It is paid by you, me and all Americans.
Not a single penny - nothing, nada, zero, even 4 times zero - is "NOW FLOWING INTO THE UNITED STATES OF AMERICA!”.
All of the "BILLIONS OF DOLLARS" the government is collecting from Trump's tariffs were earned here and spent here by hard working Americans.
In short, Trump raised your taxes, and you think that makes him "an economic guru!" Go figure.
Tuesday, August 19, 2025 Report this