What our President is going to do later today on trade is a necessary evil! Will it cause prices to go up that rely on steel and aluminium products. Yes! However, in order to get our country over the 3% GDP Annual threshold, we have to cut into the enormous trade imbalance. This year, we imported $652 billion dollars more than we exported. That is completely subtracted from our GDP.
I wrote the following yesterday:
Another slap in the face when BEA updated the 4th Quarter GDP from 2.6% on January 26th to 2.5% on February 28th! Our Imports are absolutely killing us. By now we all know this was the intention of the previous 4 administrations. From GHB to BHO.
NAFTA and China 🇨🇳 becoming part of the WTO have completely destroyed our ability to manufacture in our country. This was intentionally done to destroy our economy while building up the economies of the entire world.
If you read the first few pages of the report below, you will see it repeated over & over that IMPORTS have been accelerated which is a SUBTRACTION from our GDP.
From the article linked above:
Keep in mind that the two paragraphs I share below hold true for not only the 4th Q but the Annual GDP Rate for 2017 which was 2.3%.
The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, residential fixed investment, state and local government spending, and federal government spending that
were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).
The deceleration in real GDP growth in the fourth quarter reflected a downturn in private inventory investment that was partly offset by accelerations in PCE, exports, state & local government spending, nonresidential fixed investment, and federal government spending, and an upturn in residential fixed investment. Imports, which are a subtraction in the calculation of GDP, turned up.
Our President and his Killers absolutely understand this phenomenon. That is why 2018 is going to be all about fixing the trade deficits with Mexico 🇲🇽, Canada 🇨🇦, China 🇨🇳, South Korea 🇰🇷, Japan 🇯🇵, Germany 🇩🇪 etc.
The RINOs, CoC, Globalist, MSM and others will scream and holler that our President doesn’t believe in free trade and that he is a protectionist and that everyday Americans are going to have to pay 💰more because of his policies when it comes to trade. We live in a Global Economy. The world is coming to an end etc.
All of it is complete NOISE! We need a major correction. We may have to pay a little more but it is for the good of our country and its citizens. This is the only way our LION 🦁 can truly MAGA!