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Trade War - how is that working out?


Legaltitan

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Per numbers released today, the deficit is up 77% this quarter, while the trade deficit is the highest it's ever been.   I think we can reasonably interpret that as meaning several things: T

The trade deficit and the federal budget deficit are both increasing.  That's exactly the opposite of what Trump said he would do.   No amount of spin changes that.

We'll likely have a Democratic President in 2020, and at some point both those numbers could go down. Then they'll claim that Trump was right, and it was just a lagging indicator. The irony will be lo

https://amp.cnn.com/cnn/2019/08/01/economy/new-china-tariffs-threat-trump/index.html

 

President Donald Trump tweeted Thursday that he will add a new tariff on $300 billion of Chinese-made products on September 1, which would effectively put a tax on all Chinese goods coming into the United States. 

 

"Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country," he tweeted. 

 

The new tariffs could hit US consumers harder than the earlier rounds. It would tax goods like iPhones and other consumer electronics, sneakers and toys. Last year, Trump imposed tariffs on about $250 billion in Chinese-made goods, targeting industrial materials and components.

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4 minutes ago, Starkiller said:

https://amp.cnn.com/cnn/2019/08/01/economy/new-china-tariffs-threat-trump/index.html

 

President Donald Trump tweeted Thursday that he will add a new tariff on $300 billion of Chinese-made products on September 1, which would effectively put a tax on all Chinese goods coming into the United States. 

 

"Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country," he tweeted. 

 

The new tariffs could hit US consumers harder than the earlier rounds. It would tax goods like iPhones and other consumer electronics, sneakers and toys. Last year, Trump imposed tariffs on about $250 billion in Chinese-made goods, targeting industrial materials and components.

The DJI dropped over 500 points immediately after his tweet.

 

#Losing

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12 minutes ago, No1TitansFan said:

Trump has no concept of a long game, he just thinks he can bully people by causing short term pain. The Chinese officials have to be laughing at him.

Trade wars are easy to win.

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17 minutes ago, OILERMAN said:

I'm seriously waiting to hear Trump/Jared is shorting the market and these tweets are designed to make them money

Most of his supporters probably don't know what a short is, don't care, and if confronted will parrot an excuse from Fox or some right-wing rag.

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I bought a nail clipper in the gift shop where I am staying.  $4.95+tax.  The nail clipper didn't work properly.  The gift shop didn't want to take it back, no packaging.  I said I didn't expect it not to work.  Receipt?  I so happened to have it.  Reluctantly, I got a new one.  Good grief!

 

We are borrowing money from China to buy this shit.  Maybe, if the inferior mdse cost more, we would have sense enough not to buy it.  Maybe we would understand how trade works.  Our largest companies have set up factories and plants around the world.  We are talking about a "Green New Deal" which is probably good, but we are supporting the people we buy from whose goods are not saddled with the GND costs.  We will buy their "so-called" cheaper goods.

 

If you lose your job so you can buy cheaper goods from overseas, how do you pay for the goods.  Simple.  You borrow the money from China.  Oh.

 

Trump is right on tariffs.  Politics keeps us on both sides from agreeing on anything.  We yell about the debt, but refuse to understand why the debt exists and why it continues to grow.  Trump has given permanent tax cuts to the rich who are the financier who are running this lopsided exchange.  The debt belongs to us.  The profits belong to them.

 

They are in a financial war against the Mandarin Mind that negotiates with understanding and preparation for the future, 100 years is nothing to the Mandarin Mind.  Our financiers look two-three years ahead, maybe sometimes ten.  They do business based on what they will get right now.  Look at Trumps airplane, it's a former commercial airline refitted as a private plane w/gold fittings.  He got it right now.  The MM make generational deals.

 

We have Americans who have studied these things and know how to deal with them, but our government is controlled by the swamp.  Trump wouldn't even stop running his businesses while in office.  Is he looking at where America will be in 50 years?  Tariffs are still what we need.  We just need to allow Americans who are for us to run the government.

 

A broke clock is right twice a day.

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6 minutes ago, Number9 said:

I bought a nail clipper in the gift shop where I am staying.  $4.95+tax.  The nail clipper didn't work properly.  The gift shop didn't want to take it back, no packaging.  I said I didn't expect it not to work.  Receipt?  I so happened to have it.  Reluctantly, I got a new one.  Good grief!

 

We are borrowing money from China to buy this shit.  Maybe, if the inferior mdse cost more, we would have sense enough not to buy it.  Maybe we would understand how trade works.  Our largest companies have set up factories and plants around the world.  We are talking about a "Green New Deal" which is probably good, but we are supporting the people we buy from whose goods are not saddled with the GND costs.  We will buy their "so-called" cheaper goods.

 

If you lose your job so you can buy cheaper goods from overseas, how do you pay for the goods.  Simple.  You borrow the money from China.  Oh.

 

Trump is right on tariffs.  Politics keeps us on both sides from agreeing on anything.  We yell about the debt, but refuse to understand why the debt exists and why it continues to grow.  Trump has given permanent tax cuts to the rich who are the financier who are running this lopsided exchange.  The debt belongs to us.  The profits belong to them.

 

They are in a financial war against the Mandarin Mind that negotiates with understanding and preparation for the future, 100 years is nothing to the Mandarin Mind.  Our financiers look two-three years ahead, maybe sometimes ten.  They do business based on what they will get right now.  Look at Trumps airplane, it's a former commercial airline refitted as a private plane w/gold fittings.  He got it right now.  The MM make generational deals.

 

We have Americans who have studied these things and know how to deal with them, but our government is controlled by the swamp.  Trump wouldn't even stop running his businesses while in office.  Is he looking at where America will be in 50 years?  Tariffs are still what we need.  We just need to allow Americans who are for us to run the government.

 

A broke clock is right twice a day.

It started out with cheap goods marketed by big box stores that were shipped offshore and there may have even been some economic justification for it but it's become nothing but a huge money grab by big business; more (profit) for less. I was in Green Hills Mall not too long ago and just as an experiment I went into high end speciality stores trying to see country of origin on their products and the results were pretty astounding.

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34 minutes ago, OILERMAN said:

You have to also wonder if Putin gave Trump some orders regarding the tariffs 

Why would Putin do that?

 

https://www.reuters.com/article/us-usa-trade-china-agriculture/china-approves-wheat-soy-imports-from-russia-idUSKCN1UL275

 

BEIJING (Reuters) - China has approved wheat imports from the Russian region of Kurgan, the Chinese customs office said on Friday, bringing Russia a step closer to its goal of dramatically increasing grain exports.

 

It also approved soybean imports from all parts of Russia, the General Administration of Customs said in a separate statement on its website, having all but halted U.S. soy imports as the trade dispute between Beijing and Washington deepened.

 

China was the top buyer of U.S. soybeans until Beijing slapped a 25% tariff on shipments last year in response to U.S. tariffs on a range of Chinese products.

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Just now, ctm said:

Why would Putin do that?

 

https://www.reuters.com/article/us-usa-trade-china-agriculture/china-approves-wheat-soy-imports-from-russia-idUSKCN1UL275

 

BEIJING (Reuters) - China has approved wheat imports from the Russian region of Kurgan, the Chinese customs office said on Friday, bringing Russia a step closer to its goal of dramatically increasing grain exports.

 

It also approved soybean imports from all parts of Russia, the General Administration of Customs said in a separate statement on its website, having all but halted U.S. soy imports as the trade dispute between Beijing and Washington deepened.

 

China was the top buyer of U.S. soybeans until Beijing slapped a 25% tariff on shipments last year in response to U.S. tariffs on a range of Chinese products.

Bingo 

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