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Trump Timeline ... Trumpocalypse
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The impact of President Donald Trump's escalating tit-for-tat over tariffs is already being felt, say auto industry experts. New car prices are beginning to rise, and auto exports are dropping. But a new report warns that sales could plunge by as much as 2 million vehicles a year, resulting in the loss of up to 715,000 American jobs and a hit of as much as $62 billion to the U.S. GDP.
The Center for Automotive Research cites the biggest concern as the threatened use of trade rules known as Section 232 that would declare foreign-made cars and car parts a threat to national security. That could trigger a “downward cycle” in an auto industry already showing signs of decline after rebounding from the Great Recession, said Kristin Dziczek, a vice president and senior economist at the Center for Automotive Research, or CAR, in Ann Arbor, Michigan.
CAR’s new study is echoed by a variety of other studies looking at the potential impact of the Trump administration’s escalating trade war.
Already enacted tariffs on imported aluminum and steel have added about $240 to the cost of producing a new car, truck, or crossover in the U.S., noted Peter Nagle, a senior economist with research firm IHS Markit. And the first round of tariffs with China is adding still more to the price that manufacturers have to pay for a variety of parts used on American assembly lines.
The impact will grow as a result of the second round of China tariffs, Nagle added, cautioning that a “dizzying” series of trade moves will “exacerbate” the problems the auto industry faces as it struggles to head off the first downturn in sales since emerging from the depths of the last recession. Activating tariffs using Section 232 rules would likely prove devastating, he warned.
Nagel estimated consumers would be “looking at price increases of $1,300 for a typical mass market product, up to $5,800 for a luxury vehicle.” Those increases would not be limited to just imported vehicles. Toyota, for example, has forecast the price of a U.S.-made Camry would rise about $1,600.
In line with the new CAR study, IHS forecasts U.S. new vehicle sales would plunge by around 2 million vehicles annually, to 16.5 million a year from 2019 to 2025.
Add the possible tear-up of the North American Free Trade Agreement and the impact could be devastating. Under NAFTA, automakers have established a continent-wide network of parts and vehicle assembly operations. That’s backed up by a global production system that has been finely tuned, with little room for disruption. But industry experts warn that the Trump administration’s trade moves threaten to fracture that grid.
Again.
Somewhere in the dim recesses of my mind, I can recall a time when the sight of that white dome thrilled me. As a teenager, working for a New York congressman, I felt privileged to walk the same marble corridors where some of America’s most revered leaders had walked.
I can also vaguely remember a time, back before the travesty of Bush v. Gore, when I felt awe walking past the Supreme Court. And if I try really hard, I can summon the lost sensation of pride in covering the White House.
But all that is utterly changed.
It was wrenching to watch the futile Iraq war unfold, with its tragic echoes of Vietnam. It is jarring to think I could live through three sagas of impeachment. But I most dread the rhyming history we are plunged into now: the merciless pummeling of a woman who dares to obstruct the glide path of a conservative Supreme Court nominee.
It is unnerving to think how far women have come, only to find ourselves dragged back to the same place.
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Doesn't matter right? Ford remembers, er, well kinda remembers, or at least said she thinks she remembers, or doesn't remember cause she was sauced to the gills, or will be able to think clearer but only on next Thursday after she drives across America, but has named four other people (one a life long friend) that were there. Even though all four have said they don't remember any of this it still counts amirite? Lmao
4th purported witness claims no knowledge of alleged Kavanaugh assault against Ford
4th purported witness claims no knowledge of alleged Kavanaugh assault against Ford
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That's more believable than the fantasy tale she's making up now lol
What did Brett Kavanaugh know, and when did he know it? The answer to this question could be more important than anything President Trump’s nominee to the Supreme Court has been asked until this very moment.
Democrats have a remarkable opportunity to reopen the question not only of Kavanaugh’s character, but of the character of the people he considers friends and close advisers, if they have the discipline and focus to seize this moment.
Until now, the confirmation of Kavanaugh seemed inevitable. Even in the wake of an accusation of attempted sexual assault against their nominee by a California professor named Christine Blasey Ford, Senate Majority Leader Mitch McConnell on Friday said that Republicans will “plow right through it” and deposit their battered nominee in a seat on the highest court in the land.
As I write this, Ford and the Republicans in charge of the Senate Judiciary Committee were negotiating over her appearance, which was tentatively set for Wednesday, with conditions to be determined. It’s anybody’s guess whether it will actually happen.
Ironically, if Kavanaugh’s sprint for the high court fails, it will be only because the Ford accusations have led him and his team to self-destruct in one of the most astonishingly incompetent, self-inflicted wounds in modern political history: The eleventh-hour attempt to puncture the eleventh-hour allegation using a crackpot theory, floated by one of Kavanaugh’s close friends, that Ford was assaulted by another boy who just happens to look like Kavanaugh.
This bizarre incident, and not the accusation behind it, could sink Kavanaugh faster than any other charge.
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