US EditionAn economist explains what trade deficits really mean
- President Trump announced reciprocal global tariffs at the White House on Wednesday.
- Trump believes tariffs will fix trade imbalances, a long-held conviction for him.
- Tariffs are taxes on voluntary transactions, discouraging beneficial economic activity, some assert.
- Trump stated, "I've been talking about this for 40 years," about tariffs.
- Economists claim that trade deficits expand growth, while tariffs may make Americans poorer.
12 Articles
12 Articles
Press-Telegram
An economist explains what trade deficits really mean
Believing the myth that trade deficits are bad, the Trump Administration imposed global reciprocal tariffs this week. The proposal threatens to derail economic prosperity and trigger a barn burner of a recession. The fallacy of this myth can be clearly seen in the U.S. economic data. Over the last half-century U.S. trade deficits shrunk during recessions and increased during economic expansions. This phenomenon could not have persisted for so l…
Trump takes aim at trade deficits. Are they actually bad? : Consider This from NPR
Whatever you think of President Trump's tariffs, there's one point you have to concede: his interest in them is not a passing whim. He noted that on Wednesday, in the Rose Garden, when he was announcing the latest, massive round of tariffs. "I've been talking about this for 40 years," he said.The use of tariffs are a core belief for Donald Trump. Trade deficits are bad, other countries take advantage of the U.S. and tariffs are the way to fix th…
Economist warns of impact on countries with negative trade balances
Economist and finance lecturer at the University of Ghana Business School, Professor Lord Mensah Economist and finance lecturer at the University of Ghana Business School, Professor Lord Mensah, has emphasised the potential economic effects of President Donald Trump’s 10% tariff policy. According to him, countries with negative trade balances, those that import more goods from […] The post Economist warns of impact on countries with negative tra…
Trade deficits do not make a country poorer
Photo by Downtowngal via Wikimedia CommonsI don’t actually think you can defeat Trump’s tariffs by arguing with them rationally, or by explaining economic theory. I mean, how do you argue with something like this?I’ve resigned myself to the idea that the only way America is going to come to the broad realization that broad-based tariffs are bad is to experience the negative consequences first-hand — i.e., to touch the proverbial hot stove. Fortu…
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