Tonight, Donald Trump is using his usual hypocritical arguments on American economics: a “trade war” would be good for Americans and he knows how to make “great deals.” But a “trade war” and those “great deals” aren’t good for the average hard working American — they’re good for Trump. On the occasion that he makes a good point — like that we should manufacture in America instead of in other countries — his own hypocrisy discredits him.
While he argues that things should be made in America, his own clothing line is made overseas in Mexico, China, and Bangladesh. He lambastes Nabisco, Carrier, and Ford for outsourcing, but that didn’t stop him from investing and profiting off of those same companies. Even his winery brought in foreign workers instead of employing Americans.
If that wasn’t bad enough, he welcomes financial turmoil from global shakeups like Brexit and the housing market crisis, things that hurt most Americans’ bank accounts.
Why?
In an interview with The New Yorker, the ghostwriter of The Art of the Deal said that “the millions of people who voted for [Trump] and believe that he represents their interests will learn what anyone who deals closely with him already knows—that he couldn’t care less about them.”
Trump’s trade and economic policy is simple: he comes first. As long as it keeps him wealthy he could care less about how it affects the rest of the economy — don’t expect him to change any time soon.
Background:
Trump Profited From Outsourcing
Trump Frequently Railed Against Companies That Outsourced On The campaign Trail
Trump: Outsourcing Of Jobs, Undocumented Immigration And Drug Trade Are “Bad For All Americans, Regardless Of Their Heritage.” According to Donald J. Trump Campaign Press Release, “I am fighting hard to bring jobs back to the United States. Many companies – like Ford, Nabisco, Carrier – are moving production to Mexico. Drugs and illegal immigrants are also pouring across our border. This is bad for all Americans, regardless of their heritage.” [Donald J. Trump Campaign Press Release, 6/7/16]
[Video] Trump: “We’re Going To Make A Dynamic Economy From What We Have Right Now. We’re Going To Bring Jobs Back From Japan, We’re Going To Bring Jobs Back From China, We’re Going To Bring, Frankly, Jobs Back From Mexico.” “We’re going to make a dynamic economy from what we have right now. We’re going to bring jobs back from Japan, we’re going to bring jobs back from China, we’re going to bring, frankly, jobs back from Mexico where, as you probably saw, Nabisco is leaving Chicago with one of their biggest plants, and they’re moving it to Mexico. We’re going to bring jobs and manufacturing back. We’re going to cut costs. We’re going to save Social Security, and we’re going to save Medicare.” ” [CNBC Presidential Debate, Boulder, CO, 10/28/15; 151028_JEL_68_A]
2005: Trump Claimed Outsourcing Was “Not Always A Terrible Thing”
Trump Blog HEADLINE: Outsourcing Creates Jobs In The Long Run [Trump University via Wayback Machine, 8/29/05]
Trump: “I Have To Take The Unpopular Stance That” Outsourcing “Is Not Always A Terrible Thing.” According to a blog post by Donald Trump published on the Trump University website, “We hear terrible things about outsourcing jobs–how sending work outside of our companies is contributing to the demise of American businesses. But in this instance I have to take the unpopular stance that it is not always a terrible thing. I understand that outsourcing means that employees lose jobs. Because work is often outsourced to other countries, it means Americans lose jobs. In other cases, nonunion employees get the work. Losing jobs is never a good thing, but we have to look at the bigger picture.” [Trump University via Wayback Machine, 8/29/05]
Trump: “If A Company’s Only Means Of Survival Is By Farming Jobs Outside Its Walls, Then Sometimes It’s A Necessary Step. The Other Option Might Be To Close Its Doors For Good.” According to a blog post by Donald Trump published on the Trump University website, “Last year, Nobel Prize-winning economist Dr. Lawrence R. Klein, the founder of Wharton Econometric Forecasting Associates, co-authored a study that showed how global outsourcing actually creates more jobs and increases wages, at least for IT workers. The study found that outsourcing helped companies be more competitive and more productive. That means they make more money, which means they funnel more into the economy, thereby, creating more jobs. I know that doesn’t make it any easier for people whose jobs have been outsourced overseas, but if a company’s only means of survival is by farming jobs outside its walls, then sometimes it’s a necessary step. The other option might be to close its doors for good.” [Trump University via Wayback Machine, 8/29/05]
Trump-Branded Items Were Not Made In America
CNN Investigation: Trump And His Businesses Offshored Jobs To A Number Of Countries, Including Bangladesh, Indonesia, And China; Donald J. Trump Collection Was Produced By Factories In Central America And Asia. According to CNN, “Trump criticized politicians and business leaders, arguing that they created policies that allowed and encouraged the offshoring of American jobs to America’s competitors. ‘We got here because we switched from a policy of Americanism — focusing on what’s good for America’s middle class — to a policy of globalism, focusing on how to make money for large corporations who can move wealth and workers to foreign countries, all to the detriment of the American worker and the American economy itself,’ Trump said. A CNN investigation shows that Trump and his businesses offshored jobs to a number of countries, including Bangladesh, Indonesia, and even China. Trump cut a deal with the global apparel giant PVH to manufacture his clothes in 2004, the company told CNN. And ever since, the Donald J. Trump Collection has been produced by factories in Central America and Asia, then shipped to the U.S. for sale in stores and online. CNN purchased several of Trump’s clothing items in 2016, whose tags indicated they were manufactured throughout Asia.” [CNN,6/22/16]
NPR Fact Check: “Vast Majority” Of Trump-Branded Products Are Made Overseas. According to NPR, “It’s rigged by big businesses who want to leave our country, fire our workers, and sell their products back into the U.S. with absolutely no consequences for them. [Donald Trump has expressed great outrage over trade deals leading to the offshoring of American jobs. But when it comes to his own Trump-branded products, the vast majority are made overseas. — Tamara Keith]” [NPR, 6/22/16]
Associated Press: Trump Hats, Which Were Stamped With “Made In USA,” May Not Have Been Made In The u.S.
The Associated Press Investigated The Trump Campaign’s “Make America Great Again” Hats And Determined They May Not Be Made In America. According to Fortune, “Donald Trump’s ‘Make America Great Again’ hats proudly tout they are ‘Made in USA.’ Not necessarily always the case, an Associated Press review found. The iconic, baseball-style hats are indeed stitched together at a small factory in the Los Angeles area. But at least one of the hats in a small sample tested by the AP and an outside expert did not contain the specific type of American-made fabric the hats’ manufacturer insists his factory always uses to make each one.” [Fortune, 7/8/16]
An Analysis Of Five “Make America Great Again” Hats Showed Different Types Of Fabric—Some That Might Be Made Overseas. According to Fortune, “The AP review included a microscopic analysis of five hats bought from Trump’s campaign website, which showed the fabric in one hat was of a different type than that made by the supplier the manufacturer told the AP provides all his hat fabric. In addition to the fabric analysis, two of the manufacturer’s employees, including a top sales agent, said the hats’ fabric, bills and stiffeners were imported from overseas.” [Fortune, 7/8/16]
- Trump: “I Pay A Good Price For That Hat. If It’s Not Made In The USA, We’ll Bring A Lawsuit.” According to Fortune, “Informed of the AP’s findings, Trump said any misrepresentation would be unacceptable. ‘I pay a good price for that hat. If it’s not made in the USA, we’ll bring a lawsuit.’” [Fortune, 7/8/16]
Trump Invested Companies He Criticized For Out-Sourcing Jobs
Trump Promised To Make Companies Like Carrier, Ford, And Nabisco Know “There Are Consequences” For Outsourcing Jobs.
[Video] Trump: Carrier, Ford And Nabisco Need To Know That There Are Consequences For Firing People.” Is anyone here from Carrier because they’re everywhere; Everywhere I go they follow me; Carrier and Ford and Nabisco need to know that there are consequences to leaving and firing people; You can’t just go to another country and make products to sell across our weak borders because our borders will be so strong folks [Donald Trump Rally, Evansville, IN 4/28/16; 160428_PH_868_A]
But Trump Invested In Carrier, Ford, Nabisco And Other Companies That Outsourced Jobs
Associated Press: Trump Reported Holding Investments In Companies Like Ford Motor Co And Nabisco, “Companies He’s Assailed For Outsourcing.” According to Associated Press, “Donald Trump has invested in some of the companies that he uses as punching bags on the campaign trail, according to new financial documents he submitted to the U.S. government. In his 104-page public financial disclosure report, the presumptive Republican nominee reported holding investments in companies like Ford Motor Co., Apple Inc. and the parent company of the maker of Oreo cookies — all businesses that he’s assailed for outsourcing or, in Apple’s case, not agreeing to crack into iPhones for police or federal law enforcement in criminal cases. Trump also has invested in other companies that have outsourced jobs but escaped his public shaming.” [Associated Press, 5/19/16]
Trump Earned Between $150,000 And $1.1 Million From Investments In “Companies That He Has Publicly Attacked” For Outsourcing Jobs Including Nabisco, The Carrier Corporation, And Ford. According to The Huffington Post, “According toTrump’s personal disclosure forms, releasedWednesday, he earned between $150,000 and $1.1 million in the past year from investments in companies that he has publicly attacked. Trump’s most frequent targets include Nabisco, theCarrier Corporation, and Ford. The parent companies of Nabisco and Carrier have both outsourced hundreds of jobs to Mexico in recent months. Ford plans to build a new plant in Mexico’s San Luis Potosí state, a plan Trump has called ’a disgrace.’” [Huffington Post, 5/18.16]
Trump Also Reported Investments In VF Corp And Thermer Fisher Scientific, “Both Of Which Moved Jobs Out Of The U.S. In High-Profile Outsourcing Deals Last Year.” According to Associated Press, “Trump so far hasn’t attacked all the companies he listed on his financial records that have outsourced jobs. Trump listed investments in V F Corp. and Thermo Fisher Scientific, both of which moved jobs out of the U.S. in high-profile outsourcing deals last year.” [Associated Press, 5/19/16]
Published: Jul 21, 2016