DAILY WISCONSIN

Trade

Opposite Reaction 

Sounds like the Trump Tariffs aren’t exactly working as planned. Especially given that our deficit with China grew by nearly $44 billion last year, and our deficit with Mexico jumped by nearly 15%.Also, the damage from the rising trade deficit isn’t just that we’re spending more than we’re sending out, to levels that we last saw right before the Great Recession. It’s also that we havent seen that much of an increase in wages in the US from that protection, particularly in manufacturing and agriculture.Agriculture in particular got shelled. Real exports in “foods, feeds and beverages” are down year-over-year in each of the last 4 months, and soybean exports were down more than $4 billion in 2018 vs 2017.

Via Jake’s Wisconsin Funhouse: Trade deficit keeps blowing up. Not how Trump Tariffs were supposed to go

Two Standards 

I still can’t get over the double standard #1: Wisconsin Republicans are in a panic over the “uncertainty” manufacturers would have if Gov. Evers dramatically reduced the manufacturers tax cut. These supposed “job creators” may see it as a penalty, and just leave out state forever.

I still can’t get over the double standard #2: On the other hand, Trump blew up every trade agreement the world depended on, and still hasn’t renegotiated and got any of them approved. Plus, tariffs are forcing farmers to lose money or go into bankruptcy, and consumers are paying about 1 percent more of their hard earned money on things they buy…yet Republicans are oddly not just cheering Trump on, but they’re saying we’ll all be better off when and if the art-of-the-deal is ever completed?

Via DemoCurmudgeon: Trump Tariffs cost Americans $3 billion a Month more in spending, Trump Trade Deficit Largest in U.S. History!!! Winning?

The Great White North

With Republicans at the state Capitol still wrangling over the state budget, Walker’s office announced late Tuesday afternoon that the Republican governor and likely 2016 presidential candidate will depart next Friday for his third trade mission this year — and his fourth trip out of the country in 2015, including his visit to Israel with…

Opposing the Trans Pacific Partnership

Why would anyone expect anything but another race to the bottom in terms of farm prices, worker wages, environmental standards, and human rights with passage of the TPP? We need only look at what happened in the years following NAFTA: Over two million Mexican farmers driven off their land by subsidized US corn dumping. Risking…