@feather1952

Explainer for USians. #TradeDeficit #profligateconsumption

You have been living beyond your means. Don’t blame the rest of the world, tax the billionaires.

“A country’s trade deficit (or more precisely, its current account deficit) does not indicate unfair trade practices by the surplus countries. It indicates something completely different. A current account deficit signifies that the deficit country is spending more than it is producing. Equivalently, it is saving less than it is investing.

“America’s trade deficit is a measure of the profligacy of America’s corporate ruling class, more specifically the result of chronically large budget deficits resulting from tax cuts for the rich combined with trillions of dollars wasted on useless wars. The deficits are not the perfidy of Canada, Mexico, and other countries that sell more to the US than the US sells to them.”

#USTrade #TradeImbalance #USA #Tariffs #TrumpTariffs
#USPol #JohnMenadue #IndependentMedia

Jamieson Greer: Trump's pick for U.S. trade rep in Trump2 administration
https://www.cbc.ca/news/world/jamieson-greer-trump-trade-pick-1.7394088

* elevates key veteran of Trump1 trade war vs. China
* to execute sweeping tariff agenda that promises to upend global trade
* Greer served as chief of staff to Robert Lighthizer during Trump1

https://en.wikipedia.org/wiki/Robert_Lighthizer

#USpol #JamiesonGreer #UStrade
#Trump2 #GOP #fascism #Project2025
#billionaires #libertarianism #commerce #trade
#TradeWars #tariffs #InternationalCommerce #InternationalTrade