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Sep 25, 2018







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Hippo’s Best of 2018 Coming Soon

Look for Hippo’s Best of 2018 in mid-April, a few weeks later than normal. Those back-to back snowstorms in early March delayed our counting, pushing back the whole process by a few weeks.




Trade good for NH


04/04/18



Trade is taking a beating on the left and right. Both Donald Trump and Bernie Sanders opposed the TPP (Trans Pacific Partnership of Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States and Vietnam) that would have made trade easier between those countries and reduced reliance on China. It nicely did a few things: isolated China and created incentives for these countries to trade among themselves. Last year Trump withdrew the United States from the partnership, saying it was a bad deal for America.

So why would anyone in New Hampshire really care about any of this? For starters, New Hampshire exports $5 billion worth of goods to foreign countries every year and directly supports 20,000 jobs. More than just direct impact, many New Hampshire companies import raw goods or partially finished goods and use them in finished products, employing thousands more, creating ripple effects in our state.
This idea that trade hurts us is, well, plain wrong. Trade has always been good for New Hampshire, from our earliest beginnings when we exported wool and timber and imported molasses. The mills produced goods that went all over the world. Now we mostly export high-tech items. But trade isn’t about just what we export; it’s also about what we import. 
As the country’s and New Hampshire’s economies changed from industry-based to consumer-based economies, trade took on a new meaning. It meant by and large less expensive goods. Before we could buy one ball for a dollar and now we can buy two. This created instant wealth for us. When things cost less our money goes further and we essentially have more money. That gets lost in the trade debate. 
A tariff or custom duty is just a tax on thing we want to buy. If we didn’t want to buy it, few to none would sell it. 
That brings me to voting with our dollars. Clearly we voted to buy cheaper items because buying those items allowed us to afford more things. But we can, and should, choose at times to spend more to buy locally crafted goods, such as locally made foods. They may not be the cheapest but good food never is. And that’s the benefit of trade. We get choices. 
 





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