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Trump's tariffs cost US businesses $3.4 billion in June

By CNBC

That represents a $2.4 billion increase from what businesses paid the same month last year, despite a 31% decline, or $7.5 billion, in importsRead full story

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  • Fair trade is the only acceptable outcome. And no trade is fair trade. Fortunately Trump understands that the long-term interests outweigh any short-term pain.

    In many ways our costs will be temporary, China will have some permanent costs.

    Unilateral tariffs on our goods and theft of our intellectual property has continued for a few presidents on both sides of the aisle. They’ve made the situation harder to fix. But continuing to allow the United States to be victimized by a world trade bully

    Fair trade is the only acceptable outcome. And no trade is fair trade. Fortunately Trump understands that the long-term interests outweigh any short-term pain.

    In many ways our costs will be temporary, China will have some permanent costs.

    Unilateral tariffs on our goods and theft of our intellectual property has continued for a few presidents on both sides of the aisle. They’ve made the situation harder to fix. But continuing to allow the United States to be victimized by a world trade bully isn’t an acceptable policy solution. It shouldn’t have been in the past and it’s not now.

    Any cost analysis in absence of situational context is irrelevant. The situational context is ginormous. $3.4 billion a month doesn’t qualify as chump change in this situation.

  • Weiyee IN
    Weiyee INChief Strategy Officer

    The amount $3.4 billion, is fairly negligible in comparison to the risks and positioning that the United States is now in vis a vis China. Starting a trade war may have lost a few billion dollars, but it may have also fundamentally damaged the competitive position of major technology industries such as semiconductors, cell phones, mobility, and our position into the internet of everything as well as big data and artificial intelligence. policymakers really need to think through the longer-term strategic

    The amount $3.4 billion, is fairly negligible in comparison to the risks and positioning that the United States is now in vis a vis China. Starting a trade war may have lost a few billion dollars, but it may have also fundamentally damaged the competitive position of major technology industries such as semiconductors, cell phones, mobility, and our position into the internet of everything as well as big data and artificial intelligence. policymakers really need to think through the longer-term strategic implications of what they do, and there needs to be a far greater procedural oversight into executive decisions that become economical foreign policy, regardless of partisanship.

  • Brian  Nisbet
    Brian Nisbet Retired Lens Grinder

    Peter Neeves , you are brilliant, capsulizing that in so few words, this is what makes Quartz so cool !

  • Sirley Maria Lubreto
    Sirley Maria Lubretoowner at BaciDaRoma

    The question is, what is Fair Trade today.

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