{"id":231991,"date":"2024-06-13T20:16:19","date_gmt":"2024-06-13T20:16:19","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/13\/funniest-thing-i-have-heard-this-year-wilbur-ross-on-trumps-trade-policy-success\/"},"modified":"2025-06-25T17:17:11","modified_gmt":"2025-06-25T17:17:11","slug":"funniest-thing-i-have-heard-this-year-wilbur-ross-on-trumps-trade-policy-success","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/13\/funniest-thing-i-have-heard-this-year-wilbur-ross-on-trumps-trade-policy-success\/","title":{"rendered":"Funniest Thing I Have Heard this Year: Wilbur Ross on Trump\u2019s Trade Policy Success"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-52569\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>Just heard Wilbur Ross say on Bloomberg (roughly 3:35 ET) \u201cThe President was serious about fixing the balance of payments problem of the US\u201d. I laughed and laughed and laughed. Maybe he was determined, but he had, like Peter Navarro, no clue about how to do it.<\/p>\n<p>Here\u2019s the US trade balance defined using NIPA data.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-52570\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix.png\" alt=\"\" width=\"993\" height=\"532\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix.png 993w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix-300x161.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix-768x411.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/06\/nxgdppix-624x334.png 624w\" sizes=\"(max-width: 993px) 100vw, 993px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> US Net Exports to GDP (blue), s.a. NBER defined peak-to-trough recession dates shaded gray. Source: BEA 2024Q1 2nd release, and author\u2019s calculations.<\/em><\/p>\n<p>I got tired of \u201cwinning\u201d (as defined by Trump) long ago \u2013 but for a recollection of the horrors of Trump economic policymaking, see this <a href=\"https:\/\/econbrowser.com\/archives\/2020\/11\/trumps-trade-war-by-the-numbers\">post<\/a>.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2024\/06\/funniest-thing-i-have-heard-this-year-wilbur-ross-on-trumps-trade-policy-success\" title=\"12:38 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-06-13T12:38:19-07:00\">June 13, 2024<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2024\/06\/funniest-thing-i-have-heard-this-year-wilbur-ross-on-trumps-trade-policy-success\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Just heard Wilbur Ross say on Bloomberg (roughly 3:35 ET) \u201cThe President was serious about fixing the balance of payments problem of the US\u201d.<\/p>\n","protected":false},"author":1,"featured_media":231992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/231991"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=231991"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/231991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/231992"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=231991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=231991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=231991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}