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Headed for recession Trump reelected?

Twilight Hue

Twilight, not bright nor dark, good nor bad.
NATFA destroyed the lumber industry in BC. It has never recovered to pre-NAFTA levels.
Yep. Don't expect socialist Democrats to take responsibility for any of the damage that NAFTA caused to both the USA and Canada.
 

tytlyf

Not Religious
Yep. Don't expect socialist Democrats to take responsibility for any of the damage that NAFTA caused to both the USA and Canada.
All the damage to Mexico, USA, Canada. So much, I mean millions.

Ruhrow
President Donald Trump distorted some facts about trade in a press conference announcing an agreement to replace the North American Free Trade Agreement with the United States, Mexico, Canada Agreement, or USMCA:

  • The president said the new deal will close “terrible loopholes,” claiming foreign companies ship auto parts to “Mexico and Canada for assembly and send their foreign-made cars into the United States with no tax.” That’s misleading. NAFTA imposes a 2.5 percent tariff on cars made with less than 62.5 percent of auto parts from North America. The new deal increases that to 75 percent.
  • Trump said, “Since NAFTA’s adoption, the United States racked up trade deficits totaling more than $2 trillion.” Going back to 1994, when NAFTA went into effect, the U.S. trade deficit in goods and services with Mexico and Canada is $1.58 trillion, according to Bureau of Economic Analysis figures.
  • The president suggested that NAFTA was responsible for all of the decline in manufacturing jobs since it took effect — a drop of 4.1 million. But the U.S. gained a net 37 million jobs over that time period, and economic studies say the trade deal had a small overall impact on jobs.
  • He claimed that while U.S. companies pay 25 percent to export cars to China, the U.S. has a 2.5 percent tariff on cars imported from China, but “we don’t collect it.” The U.S. does collect it, industry experts told us. And Trump is using outdated figures on the tariffs.
  • The president repeated several claims he has made before, such as inflating U.S. trade deficit figures by excluding services, and claiming that U.S. Steel is “building eight or nine plants.” We previously found no evidence of that when the president’s claim was just “seven plants.”
Trump spoke in the Rose Garden at the White House on Oct. 1 about the new trade agreement between the countries. The USMCA deal still will need to be approved by Congress.
 

Shad

Veteran Member
Yep. Don't expect socialist Democrats to take responsibility for any of the damage that NAFTA caused to both the USA and Canada.

A conservative made the deal on the Canadian side due to all the kickbacks and high paying jobs he got after getting out of office.

The new deal was handled by an appointee that had zero expertise in any related field by Trudeau trying to score equality points.

Both are sellouts just for different reasons and causes. One is corrupt, the other is a moron.
 

Twilight Hue

Twilight, not bright nor dark, good nor bad.
A conservative made the deal on the Canadian side due to all the kickbacks and high paying jobs he got after getting out of office.

The new deal was handled by an appointee that had zero expertise in any related field by Trudeau trying to score equality points.

Both are sellouts just for different reasons and causes. One is corrupt, the other is a moron.

I should have known. Not surprised to hear it.
 

Shad

Veteran Member
I should have known. Not surprised to hear it.

Keep in mind the Liberals and NDP railed against the deal but never repealed it. They only pandered for votes then did nothing once in office. They actually added two amendments to NAFTA thus supported it once in power.
 

Shadow Wolf

Certified People sTabber
I read on the BBC today that the inverse curve is still present and the UK economy is also showing warning signs of a recession.
 

sun rise

The world is on fire
Premium Member
Congresses passed a budget with no major spending cuts. Congress passed the tax cuts. Trump does not have the power to do either.
Congress passed what Trump proposed. But to be more precise, the Republican party, as usual, cut taxes and increased the deficit.
 

sun rise

The world is on fire
Premium Member
Dems didn't object to the spending Bills.

History at least from Clinton on shows the deficit tends to go down during Democratic administrations. The left might believe in tax and spend, but the right believes in borrow and spend. I prefer a lower deficit.
 

Shad

Veteran Member
History at least from Clinton on shows the deficit tends to go down during Democratic administrations.

National debt has been increasing regardless of party for decades. Reducing a budget deficit while having no surplus isn't something one boosts about.

Deficit isn't national debt.

The left might believe in tax and spend, but the right believes in borrow and spend. I prefer a lower deficit.

Not this right-winger. I am a fiscal conservative. A dying breed I know.
 
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