{"id":30054,"date":"2018-06-01T13:36:28","date_gmt":"2018-06-01T13:36:28","guid":{"rendered":"https:\/\/highplainsblogger.com\/?p=30054"},"modified":"2018-06-01T13:36:28","modified_gmt":"2018-06-01T13:36:28","slug":"good-news-then-a-trade-war-nice","status":"publish","type":"post","link":"https:\/\/highplainsblogger.com\/?p=30054","title":{"rendered":"Good news, then a trade war &#8230; nice!"},"content":{"rendered":"\n<div class=\"twitter-share\"><a href=\"https:\/\/twitter.com\/intent\/tweet?via=jkanelis\" class=\"twitter-share-button\">Tweet<\/a><\/div>\n<p><a href=\"https:\/\/highplainsblogger.com\/wp-content\/uploads\/2018\/06\/180531111243-canada-mexico-eu-metal-tariffs-1024x576.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-30055\" src=\"https:\/\/highplainsblogger.com\/wp-content\/uploads\/2018\/06\/180531111243-canada-mexico-eu-metal-tariffs-1024x576-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/highplainsblogger.com\/wp-content\/uploads\/2018\/06\/180531111243-canada-mexico-eu-metal-tariffs-1024x576-300x169.jpg 300w, https:\/\/highplainsblogger.com\/wp-content\/uploads\/2018\/06\/180531111243-canada-mexico-eu-metal-tariffs-1024x576-768x432.jpg 768w, https:\/\/highplainsblogger.com\/wp-content\/uploads\/2018\/06\/180531111243-canada-mexico-eu-metal-tariffs-1024x576.jpg 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Donald J. Trump has just managed to piddle on his own good-news report. This is weird, man.<\/p>\n<p>The U.S. Labor Department this morning released some seriously positive news: 233,000 non-farm jobs were added to the payrolls in May, which is greater than what economists expected; the nation&#8217;s jobless rate fell to 3.8 percent, the lowest rate since 2000.<\/p>\n<p>We&#8217;re cheering the news! Yes, the economy is showing signs of rocking along. The president deserves his share of credit for the serious uptick in employment activity.<\/p>\n<p>But &#8230; wait!<\/p>\n<p>The previous day, the president announced a huge tariff on imported steel and other goods. Who&#8217;s going to get slapped with this protectionist measure? Our major trading partners and allies: Canada, Mexico, the European Union.<\/p>\n<p>Canadian Prime Minister Justin Trudeau made a statement this week about how this policy might make sense to someone in Washington but at this moment he cannot figure out what Trump is trying to do.<\/p>\n<p>I&#8217;m not an economist, but I know enough about global economics to understand that trade wars rarely produce winners. Everyone loses. The cost of manufacturing items goes up because companies &#8212; that are in the business for make maximum profit &#8212; must increase the price of what they produce to cover the cost of sending it to trading partners.<\/p>\n<p>Who pays the cost? You do. So do I.<\/p>\n<p>This is classic protectionist policy, favored by union leaders who understandably want to protect their members&#8217; jobs against foreign competitors.<\/p>\n<p>Free trade? It&#8217;s out the window, flushed down the crapper, tossed onto the trash heap.<\/p>\n<p>I&#8217;m still unclear about what Trump is trying to do.<\/p>\n<p>I&#8217;m delighted with the jobs report. The trade war might tamp down a lot of our enthusiasm.<\/p>\n<p>Goofy.<\/p>\n\n<div class=\"twitter-share\"><a href=\"https:\/\/twitter.com\/intent\/tweet?via=jkanelis\" class=\"twitter-share-button\">Tweet<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Donald J. Trump has just managed to piddle on his own good-news report. This is weird, man. The U.S. Labor Department this morning released some seriously positive news: 233,000 non-farm jobs were added to the payrolls in May, which is greater than what economists expected; the nation&#8217;s jobless rate fell to 3.8 percent, the lowest &hellip; <a href=\"https:\/\/highplainsblogger.com\/?p=30054\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Good news, then a trade war &#8230; nice!<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1424,2503,7183,6965,5047],"class_list":["post-30054","post","type-post","status-publish","format-standard","hentry","category-business-news","tag-donald-trump","tag-joblessness","tag-justin-trudeau","tag-trade-war","tag-us-labor-department"],"_links":{"self":[{"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/posts\/30054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30054"}],"version-history":[{"count":1,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/posts\/30054\/revisions"}],"predecessor-version":[{"id":30056,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=\/wp\/v2\/posts\/30054\/revisions\/30056"}],"wp:attachment":[{"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/highplainsblogger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}