My Desultory Blog

Posted By RichC on April 5, 2025

The Trump tariffs that have been long in the making and took hold on April 2nd, “Liberation Day”  (he first talked about them in the 1980s). Not everyone is as sure or as comfortable with them as U.S. President Donald J. Trump.

Still, most of us recognize that the industry that built this country in the 20th century, left for lower regulations, cheaper labor and the ability to export back to the U.S. during the last 50 years. Republicans, many who were tied to companies that profited by outsourcing, didn’t little to slow the export of blue-collar jobs … and Democrats who once fought for many of the union jobs in the rust belt, gave way to the progressive wing of their party. The American worker no longer had voices in government who listened to them … until Donald Trump.

Despite the pain being felt on Wall Street (over 6 Trillions in losses this week), the Trump administration continues to keep the tariffs in place. We’ve heard many countries are finally calling to negotiate lowering their countries tariffs, trade barriers, VAT taxes and regulations. Others are doubling down, like China announcing a 34% tariff on U.S. products.

China exports much more to the U.S. than it imports, making the value of trade affected by a blanket tariff smaller than what is hit by across-the-board U.S. tariffs. Still, China is the third-largest buyer of U.S. goods, purchasing about $143.5 billion worth of exports last year, according to U.S. Census Bureau data. Soybeans, aircraft and petroleum are among the goods sold by the U.S. to China.

Categories: Business, Financial, Politics
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