Economist: If Trump Keeps Escalating Trade War, We Will Have A Recession | The Last Word | MSNBC

Austan Goolsbee tells Lawrence that the U.S. economy is likely to slip into a recession if Trump keeps up his trade war with China. The president just placed new tariffs on Chinese goods.
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Economist: If Trump Keeps Escalating Trade War, We Will Have A Recession | The Last Word | MSNBC

72 comments

  1. I’ll leave whether or not trade wars work, (they don’t), but it’s only US citizens that will bear the costs of waging as it’s their money that will be transferred to the government’s pockets when they pay for Trump’s tariffs

    1. @Saltponds239 How exactly have you been, “giving away billions to China”, then genius, and if tariffs are the solution then why have they increased prices for US consumers?? Seems a bit dumb to say, “China’s been naughty so we’re going to spank our fellow Americans”. Although a bit dumb sounds like something you’ll be fine with

    2. @Zombobo Smith You wrote, China’s been naughty so we’re going to spank our fellow Americans” – better to quit and continue to give Billions away to China right?

      The U.S. goods trade deficit with China was $419.2 billion in 2018. Trade in services with China (exports and imports) totaled an estimated $77.3 billion in 2018.

      So if we have been giving away billions before the so-called trade war, weren’t we already paying more you dope?

    3. let him tell it china is paying us, billions and billions that if true he could have used for his so called wall. oh i forgot excuse me mexico is paying for it my mistake

    4. @Richard Miller The reason Trump has put import duties on these various things is because they’re the things US companies and consumers buy a lot of. Which means China will have been, by far the cheapest place to buy them, otherwise you’d have already been buying them elsewhere. So pay the tariffs and it’ll cost more, buy them somewhere else and it’ll cost more. So not much of a solution really

    1. @Caroline Maybe may I suggest ignoring the darkness that’s going and find you’re lighted higher road? And always, always, follow your heart..

    1. BlueTalulips you jus prove the hate that the left is full of. All you do is spew hate. And your proofing that point. Exposing the unhinged leftist. You don’t have any guns do you? We’ve had enough killings from unhinged leftist like yourself. Please stop the killing of innocent people following your parties hate and race pushed day and night. Stop the hate.

  2. The Grand Wizard. Has shown that he is a reckless gambler, when he inherited a plus of responsibility. He destroyed his father’s money. Now he’s destroying Obama’s hard work!

    1. @Al G hey you running low on weed.. puff up cause you’re hulicinating again. OBAMA= WORST PRESIDENT EVER

    2. Dragonice Lakeoffire for sure. He’s destroyed what Obama left him. This clown has no idea of what he’s doing. He’s leading America into a recession with out a doubt.

    3. Dragonice Lakeoffire You must be brain dead. He kept a recession from turning into a depression. The Annual budget deficits started shrinking.

  3. Dummy Trump thinking he can understand issues without studying.
    What has he done so far:
    . Given tax cuts primarily to the rich (himself)
    . Alienated American allies
    . Favoured countries he had financial ties with
    . Drastically reduced farm income
    . Started a trade war with no end is sight
    . Drastically increased the deficit for future generations
    . Created a lack of trust in American values and reliability
    . Claimed to be smarter than anyone else, whilst threatening to sue his college over disclosure of his academic record.
    . Undone the nuclear agreement with Iran, and as a result they are now about to start enriching uranium
    . Lied continuously about just about everything, even the weather, like he’s an expert 😂

    So funny 😂 What a chump. What a dope.

    “Donald Trump was the dumbest goddam student I ever had” Professor Kelley – Wharton

    1. Trump is the Man.
      -Taxes: 30 million small businesses are now able to hire that 1 needed employee thanks to Trump making the tough choice to cut taxes all across the board. It’s a hard choice to help the average person, by being equal to big business. But this is why Trump is a Real Man.
      – The global network is much more complex than a simpleton like you would understand.
      – Experience is why he is in office.
      – Back to point 1, Freed Farmers from Tax burden, plus new products will take over.
      – China is SPYING / STEALING / CHILD SLAVE LABOUR / ect. New Markets will have a chance to come into play.
      – CLINTON created the sick NARRITIVE that all you losers follow daily.
      – You are a child on that one if you think that is important
      – TRUMP REBUILT THE ARMY
      – Hard to tell who is lying when everyone is lying for politics, so Trump fits right in. WHO IS BETTER THAN TRUMP???????

      You are a Pedophile supporter

  4. 60 million American families paying $1,000.00 in tariffs per year ($60 billion total), will mean the gift of 1.4 trillion dollars fRump handed the 1% will be paid off in just 233 years. What a biggly great win for the 1%.

    1. DataWaveTaGo= Don’t forget he has already told the American public that if he is re-elected he is going to go after peoples social security and disability checks! That should help pay off that tax cut, NOT! He also said he doesn’t care what he’s doing to Americans because he won’t be here to care! Nice guy our president!!

    1. When I look at the harm Trump has already done to the real middle class (not the “middle class” in Trump’s head – earning $100,000 or more.} I worry about the catastrophes he can/will create in the NEXT 15 months. It’s the reason I advocate for immediate articles of impeachment formally announced. Trump would go on trial in the Senate by March, 2020.

      Now…imagine GOP Senators, one by one, trying to DEFEND the criminal actions of this president. Please consider, folks, there is no way (if it got that far) Trump would escape – GUILTY! on all counts. The people could then turn their attention on Pence, who I believe would be scared shitless to follow his boss to prison. Democrats need to get tough! GOP would have imprisoned the entire Obama administration by now if the situation was reversed

  5. Dem candidates aren’t engaging on the tariffs for several reasons least of all is giving him the leash (more like rope) to hang himself with. A prime reason is the simply fact that right now there is little to nothing they can actually do about it, and engaging Trump on it gives him exactly what he craves which is confrontation…so they’ll sit back and let him run himself into the ground on it. We’re going to have a recession more then likely, their focus is going to be just like Obama and trying to fix it once they actually get in there.

    Best thing to do now is vote Dem, save money for the coming lean times, and don’t count on a big tax return.

    1. Best thing to do now is vote dem?
      Best thing to do now is jump off a bridge? Pick one both have the same result!!

    2. And free healthcare and education for illegals is a winning stragedy? Less we forget the 17 Trillion Green New deal.

    1. From England. In this country the word Fart is considered offensive. Trump (as in trumpet) is a much nicer word to describe the release of bowel gas.

    1. xavier reivax
      Get out of your basement?
      Liar
      Liar
      Pantalones en Fuego!
      Making shot up to conform to your narrative.
      TDS!!!
      KAG
      TRUMP 2020

    2. all the short term relief he’s had to blow on the farmers won’t help fix the long term damage he’s done to american agri-business.

    3. tom schmidt trump is the worst president ever. He’s not fit for office. People will speak in 2020. The whole Republican party should be thrown in jail.

    1. Liberals are like children. All I ever hear are petty insults with no substance. You’re a racist, a Nazi, an inbred 😂 What a Sad and pathetic bunch.

  6. Trump is following the same pattern that has brought him multiple bankruptcies in the past. But now the company is America and there is no bank to bail it out

    1. @Dragonice Lakeoffire he is however, the only president who promised to wipe out the debt. He inherited an upward trending booming economy and it’s only taken 3 years to run it into the ground.

  7. Trumpty Dumbty inherited a growing Obama economy ,, and in two years facing recession , this wannabe captain at the helm doesn’t know how to sail , the rocks are close and closing in

  8. Just great… There goes my 401k and IUL… Screws with our retirement accounts and paying $1000 a year more.. Way to go Trump and his supporters.. Thanks for screwing yourself AND US!!

  9. And then when the voters give Trump and Republicans the boot, the Dem administration can spend 4-8 years cleaning everything up for them (just like Obama did with Dubya). Amazingly, all those Republicans that are left in Congress will suddenly turn into deficit hawks again…magic!

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