Please ensure Javascript is enabled for purposes of website accessibility

Gifford Fire Is California’s Largest Blaze This Year, Tops 82,000 Acres

17 hours ago

Wall Street Pares Gains After Fresh Economic Data; Earnings in Spotlight

18 hours ago

Israel Considers Full Gaza Takeover as More Die of Hunger

18 hours ago

US to Initially Impose ‘Small Tariff’ on Pharma Imports, Trump Says

18 hours ago

Cruz Criticizes Hochul for Wearing Headscarf at Slain Officer’s Funeral

18 hours ago

Trump Says Banks Discriminate Against His Supporters While White House Prepares Order

18 hours ago

Fresno Man Pleads Guilty in $30 Million Fraud Scheme

1 day ago

Texas Governor Vows to Replace Democrats Absent at Monday Redistricting Vote

2 days ago
Economy is Booming. Here's How to Keep America Prosperous.
Darius-Assemi
By Darius Assemi
Published 7 years ago on
September 7, 2018

Share

If President Donald Trump doesn’t soon resolve the international trade war he started with tariffs, America’s booming economy will be derailed.
And what a shame that would be.
Unemployment is near record lows across the country and here in Fresno, and American workers are seeing the benefits.


Opinion
Darius Assemi
Beyond the numbers, it’s a beautiful thing when the U.S. economy hums on all cylinders.
There’s more laughter in coffee shops. You see people driving new cars. And there’s money left after the bills are paid to buy the kids clothes or toys, take in a Grizzlies baseball game, or head to our wonderful Fresno Chaffee Zoo.
Despite my disagreement with some of President Trump’s domestic and foreign policies, I endorse the federal tax cuts and some of the deregulation he has put together with the Republican-led Congress. These cuts have kicked what was a  medium growing economy into overdrive.

The No. 1 Question

But a big question accompanies this return to prosperity for families and businesses that suffered greatly during the Great Recession.
How long will the good times last?

President Trump, along with Republicans and Democrats in Congress, must have their eyes on the threats ahead. If they ignore the warning signs, our economic boom will be at risk.
As a businessman, I and other members of my team study the economy closely. We examine data, keep our eyes out for emerging trends and adjust plans accordingly.
The good news is, we could enjoy a long ride on America’s powerful economic train.
However, President Trump, along with Republicans and Democrats in Congress, must have their eyes on the threats ahead. If they ignore the warning signs, our economic boom will be at risk.

Negative Impacts of Tariffs

What are these threats?
President Trump’s tariffs, the labor shortage gripping our country, and Washington’s failure to pass comprehensive immigration reform are on my list.
The most immediate threat is the international trade war. News about retaliatory tariffs imposed by foreign countries — many of them staunch American allies — flood my email box. American companies are searching frantically for alternative sources for what they need or seeking alternative components.

Like many Americans, President Trump is concerned about China’s theft of technologies and intellectual properties and the games the country plays with its currency. But these problems should not be addressed exclusively with tariffs and trade wars.
Or they’re scrapping projects altogether.
Ford recently announced that it was canceling plans to bring its Focus Active model from China to the U.S. The automaker said that President Trump’s 25% tariff on cars it builds in China was the reason.
Nearly every American is beginning to pay the price for these tariffs. And it doesn’t matter if you are a farmer whose export markets have dried up, a manufacturer dealing with the high price of aluminum, a doctor needing a new CT scanner or the “average Joe” looking to buy a new smartphone.
History tells us that no one wins in a trade war.
In 18th and 19th century Europe, ships were blocked from ports, captured and sunk. Trade became increasingly difficult, allowing America’s nascent economy and maritime fleet to grow quickly.
President Herbert Hoover’s signing of the Smoot-Hawley Act in 1930 raised tariffs on over 20,000 goods to an average rate of 40 percent. Hoover’s goal was to protect American manufacturers and farmers and lift America out of The Great Depression. Instead, it prolonged the hard times.
Fortunately, President George W. Bush reversed course after his tariffs on foreign steel raised prices for consumers and caused long production delays.
Like many Americans, President Trump is concerned about China’s theft of technologies and intellectual properties and the games the country plays with its currency. But these problems should not be addressed exclusively with tariffs and trade wars.

How to Fix International Trade


I support policies that, as President Trump says, put Americans first; however, we have to realize that trade is not a boxing match. Our neighbors do not have to lose in order for us to win. A good trade policy should be a rising tide that lifts all boats, including countries that have always been our allies.
I urge the president and Congress to address and reauthorize European Union trade pacts and continue conversations with Canada and Mexico to undo the recent tariffs imposed on our North American neighbors. The goal should be to help all American workers and companies and promote flourishing economies around the world. When our neighbors prosper, illegal immigration to our country ebbs to a trickle.
Additionally, the president and Congress should resume efforts to bring about a Trans-Pacific Partnership with the countries bordering the Pacific Ocean. Japan is the key player because it has the biggest economy in the region other than China. In addition, Japan is America’s fourth-biggest trade partner and a vital export market for West Coast farmers.
I am encouraged that President Trump announced last week that he and Mexico President Enrique Peña Nieto had struck a preliminary deal. However, Trump ally Sen. John Cornyn (R-Texas) says that “a trilateral agreement” involving Canada “is the best path forward.”
“Free trade” allows supply and demand to power the global economy. Free trade knocks down artificial walls between markets and consumers. Under free trade, there are no tariffs or quotas — unless mutually agreed upon by willing partners.
Not only is free trade mutually beneficial to us and our trade partners, these strategic efforts will increase President Trump’s leverage in negotiations with China. For us to be able to successfully compete with the world’s fastest-growing and second-largest economy, North America must be economically and geopolitically united.

Photo of Donald Trump holding a phone
President Donald Trump hangs up after talking with Mexican President Enrique Pena Nieto on the phone in the Oval Office of the White House, Monday, Aug. 27, 2018, in Washington. (AP Photo/Evan Vucci)

Labor Shortage Could Cause Economy to Sputter

When labor is in high demand, wages go up and that’s good for American workers. But when labor shortages are protracted, the prices for goods and services spiral. That’s when the Federal Reserve Bank jumps in and applies its brakes on the economy with higher interest rates.
Some industries are already grappling with labor shortages. I am involved in two — home building and farming — that have big labor shortages today! If left unaddressed, this problem will eventually cripple both industries — not just in California, but all over the country.
Comprehensive immigration reform would address our labor shortages, especially for jobs that Americans don’t want. Reform will allow us to continue enjoying the tremendous benefits that immigrant brainpower and investment bring to our country.

Photo of a home being built in Roseville, Calif.
Home builders in California and other parts of the country are finding that construction workers are in short supply. (AP File Photo/Rich Pedroncelli)

Immigration Strengthens Our Economy

The Trump administration wants to eliminate illegal immigration. Most of us, including me, agree on that. My issue is, the administration is cutting legal immigration, too.
Since President Trump took office, his administration has granted 13 percent fewer visas, approved fewer refugees and encouraged Congress to radically shrink legal immigration. The administration also has gone so far as to order the removal of hundreds of thousands of legal residents here from war-torn countries and countries hit by natural disasters.
Did you know that 43 percent of companies in last year’s Fortune 500 were founded or co-founded by an immigrant or the child of an immigrant?
Can you imagine an America without Apple, Amazon, Google, or Walt Disney? What is more American than entrepreneurialism and innovation?
We cannot sacrifice innovation to enact a blanket immigration policy that does not account for merit or talent.

Did you know that 43 percent of companies in last year’s Fortune 500 were founded or co-founded by an immigrant or the child of an immigrant? Can you imagine an America without Apple, Amazon, Google, or Walt Disney? What is more American than entrepreneurialism and innovation?
Yes, immigration is a complex and “touchy” political subject. Both of our political parties have used scare tactics to keep their activist bases happy. Unfortunately, these tactics have been used to tear down two critically needed components of immigration reform: the fortification of our borders and an expanded guest worker program.
One of the most well-worn responses to the idea of an expanded guest worker program is that immigrants are stealing our jobs. And I understand why this is an effective line of attack, as 40 percent of hardworking Americans struggle to make it to the end of the month. This is a shame in an economy that is moving as fast as it is.
But while it is an effective talking point, extreme restriction of immigration will not address the wage gap for many working Americans. We need federal funding to assist Americans in learning new skills that move them up the economic ladder. This, paired with comprehensive immigration reform, will improve both our economy and the quality of life for our working class — not just in the short term, but for years to come.
As President Reagan said: In America, our origins matter less than our destinations and that is what democracy is about.
Conservative values are about freedom of movement, trade, and people. If President Trump and Congress work together to resolve tariffs, the labor shortage, and immigration reform, America will enjoy a prolonged period of economic health.

Watch on Video: Why America Needs Immigration Reform

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Slovenia Becomes First EU Nation to Ban Weapons Trade with Israel

DON'T MISS

Trump Suggests Vance Is His Likely Heir Apparent in 2028

DON'T MISS

Former Fresno City Attorney Returns to Serve as County Counsel

DON'T MISS

Trump to Host Armenia, Azerbaijan Leaders for Peace Talks on Friday, US Official Says

DON'T MISS

Two Suspects Wanted in Alleged Fresno Arson at T.J. Maxx on Shaw Avenue

DON'T MISS

‘Yes’ to Outreach, ‘No’ to Condoms. Fresno Supervisors Rein in County Holidays

DON'T MISS

Trump Declines to Say if He Supports or Opposes Potential Gaza Takeover by Israel

DON'T MISS

Fresno Three-Vehicle Crash Slows Traffic on Herndon Avenue

DON'T MISS

Trump Threatens to Take Over Washington DC’s Governance

DON'T MISS

Who’s Off to a Strong Start in Raising Money for Fresno Area School Board Races?

UP NEXT

With Kamala Harris Out, Who Will Emerge as Frontrunner for California Governor?

UP NEXT

Why Building More Homes Near Transit Will Transform Lives Across California

UP NEXT

Wall Street Pares Gains After Fresh Economic Data; Earnings in Spotlight

UP NEXT

Wall Street Rebounds as Fed Rate Cut Bets Intensify on Weaker Payrolls

UP NEXT

Israel Must Open Its Eyes. Defeating Hamas Doesn’t Require Starving a Single Child

UP NEXT

‘South Park’ Skewers a New Kind of Sanctimony and Trump

UP NEXT

Corruption Scandal Puts Mexico’s President on Defense Against Trump

UP NEXT

Wall Street Selloff Sparked by Trump Tariffs, Amazon Results, Weak Payrolls

UP NEXT

Global Shares in Red After US Jobs Data, Trump’s Tariff Salvo

UP NEXT

Fresno’s $100M Warehouse Project Means Big Things for City: Dyer

Trump to Host Armenia, Azerbaijan Leaders for Peace Talks on Friday, US Official Says

9 hours ago

Two Suspects Wanted in Alleged Fresno Arson at T.J. Maxx on Shaw Avenue

9 hours ago

‘Yes’ to Outreach, ‘No’ to Condoms. Fresno Supervisors Rein in County Holidays

10 hours ago

Trump Declines to Say if He Supports or Opposes Potential Gaza Takeover by Israel

11 hours ago

Fresno Three-Vehicle Crash Slows Traffic on Herndon Avenue

11 hours ago

Trump Threatens to Take Over Washington DC’s Governance

12 hours ago

Who’s Off to a Strong Start in Raising Money for Fresno Area School Board Races?

12 hours ago

Two Chinese Nationals in California Accused of Illegally Shipping Nvidia AI Chips to China

12 hours ago

Senators Ask US to Probe Data Security Issues With DeepSeek

12 hours ago

Marjorie Taylor Greene Asks for George Santos’ Sentence to Be Commuted

12 hours ago

Slovenia Becomes First EU Nation to Ban Weapons Trade with Israel

Slovenia announced it will ban all weapons trade with Israel over the war in Gaza, becoming the first European Union country to impose such ...

8 hours ago

A view of the site of Thursday's Israeli strike that damaged and destroyed residential buildings, at Shati (Beach) refugee camp, in Gaza City, July 4, 2025. (Reuters/Mahmoud Issa)
8 hours ago

Slovenia Becomes First EU Nation to Ban Weapons Trade with Israel

President Donald Trump and Vice President JD Vance take part in ceremonies in commemoration of the Memorial Day holiday, at Arlington National Cemetery in Arlington, Virginia, U.S., May 26, 2025. (Reuters File)
8 hours ago

Trump Suggests Vance Is His Likely Heir Apparent in 2028

9 hours ago

Former Fresno City Attorney Returns to Serve as County Counsel

President Donald Trump speaks to reporters ahed of boarding Marine One to depart for New Jersey, at the White House in Washington, D.C., U.S., August 1, 2025. (Reuters)
9 hours ago

Trump to Host Armenia, Azerbaijan Leaders for Peace Talks on Friday, US Official Says

Two suspects are being sought in Fresno after allegedly starting a fire on July 15, 2025, at 2097 W. Shaw Avenue, and Valley Crime Stoppers is asking for anonymous tips. (Valley Crime Stoppers)
9 hours ago

Two Suspects Wanted in Alleged Fresno Arson at T.J. Maxx on Shaw Avenue

Garry Bredefeld Pride Parade
10 hours ago

‘Yes’ to Outreach, ‘No’ to Condoms. Fresno Supervisors Rein in County Holidays

President Donald Trump shouts to reporters as he walks on the roof of the White House in Washington, D.C., U.S., August 5, 2025. (Reuters/Jonathan Ernst)
11 hours ago

Trump Declines to Say if He Supports or Opposes Potential Gaza Takeover by Israel

A three-vehicle crash on Herndon Avenue in Fresno prompted police to block off the area Tuesday, August 5, 2025, after one car was spun around, though no injuries were reported. (GV Wire)
11 hours ago

Fresno Three-Vehicle Crash Slows Traffic on Herndon Avenue

Help continue the work that gets you the news that matters most.

Search

Send this to a friend