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‘Literally How an Economy Doesn’t Work’: Economic Experts Mock Trump’s Early AM China Tariffs Tweetstorm

“The President’s been lying, non-stop, saying that China would pay for the tariffs – just like Mexico would pay for the wall.”
President Donald Trump followed up his weekend of nearly 100 tweets with an early Monday morning tweetstorm starting at 6:09 AM.
Most of the President’s tweets were in defense of his tariffs on hundreds of billions of dollars of goods imported from China into the U.S. – the vast majority of which increase costs to Americans because the tariffs are paid for by the companies that import the goods, who generally pass them on to consumers via higher prices.
And the president was widely mocked for these tweets, by an informed general public and many experts.
One set of Trump’s defensive tweets garnered a great deal of attention, for being wholly false.
….completely avoided if you by from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly!…
— Donald J. Trump (@realDonaldTrump) May 13, 2019
“The President’s been lying, non-stop, saying that China would pay for the tariffs – just like Mexico would pay for the wall,” MSNBC’s Joe Scarborough noted.
“What’s so important for American taxpayers to know is this is a $200B tax increase on them.” — @JoeNBC pic.twitter.com/d3gkMPLtir
— Morning Joe (@Morning_Joe) May 13, 2019
Politico’s Chief Economic Correspondent also weighed in:
The exact opposite has been proven. https://t.co/qsCsafTz3b https://t.co/ltLhsTqyDt
— Ben White (@morningmoneyben) May 13, 2019
But it was this totally false Trump tweet that drew total mockery:
The unexpectedly good first quarter 3.2% GDP was greatly helped by Tariffs from China. Some people just don’t get it!
— Donald J. Trump (@realDonaldTrump) May 13, 2019
Here’s a noted American development economist:
Yeah. The people who “don’t get it” include your own economic advisors —> https://t.co/hQ0rC32oeS
Maybe if you just ban all trade, you’ll achieve “10% GDP”. Just say it, they’ll believe it. https://t.co/PyouvCkgBw
— Michael Clemens (@m_clem) May 13, 2019
A CNN Business economy reporter:
Chart from @OxfordEconomics shows the difference: pic.twitter.com/Gyq37Ise5d
— Lydia DePillis (@lydiadepillis) May 13, 2019
Editor-in-chief, SAIS Observer. Freelance journalist:
This is literally how an economy doesn’t work. https://t.co/ChCOKM5ewz
— T.J. Sjostrom (@sjostromtj) May 13, 2019
London Bureau Chief for The Street:
“Tariffs from China.”
— Martin Baccardax (@mdbaccardax) May 13, 2019
Professor, Washington University in St. Louis:
A tariff is a TAX.
So a TAX increase raised the GDP?#TariffsAreTaxes https://t.co/xQzbJbSXrh— Timothy McBride (@mcbridetd) May 13, 2019
Senior Writer, Bloomberg Economics:
“Some people just don’t get it!” https://t.co/tCb860JBkR
— Shawn Donnan (@sdonnan) May 13, 2019
Wall Street financier, Morning Joe Economic Analyst:
Anyone who really looks at the GDP report would “get” that half of the 3.2% was due to transitory factors (inventories and trade) while consumer spending slowed to 1.2% and capex was essentially flat. https://t.co/ueVESlTPfi
— Steven Rattner (@SteveRattner) May 13, 2019
Bloomberg News economics editor:
GDP got a boost because imports fell after surging in the second half of 2018 to beat tariffs that were then put on hold (until now) https://t.co/RidyKHsw7J
— Scott Lanman (@scottlanman) May 13, 2019
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