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Trade War - how is that working out?


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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.

SENATE FINANCE CHAIR CHUCK GRASSLEY: "“Trade policy and border security are separate issues. This is a misuse of presidential tariff authority and counter to congressional intent."

43 minutes ago, Soxcat said:

Where was Russia selling that stuff before?  The market isn't shrinking.  We can just sell to someone else.  Russia deserves the Chinese.  Let them have them. 

Seems like you or Trump need to tell the US farmers they can sell to someone else. Obviously, they haven’t receive this bolt of enlightenment.

 

https://www.rollingstone.com/politics/politics-features/what-soybean-farmers-think-of-trumps-trade-war-837492/

 

Edited by Btowner
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Wait, the billions in subsidies to our Patriot Farmers aren't warranted?

 

In seriousness, Trump's approach has been somewhat draconian, but may prove effective.  What I am concerned about now is that he might be overplaying his hand by continuously and very publicly shaming China's position.  iow, he's not leaving room for Pi to save face from this deal.  Now this may become a test of wills where Pi has already positioned himself as a strongman and is probably situated better to play the long game than the highly levreaged USA farmer and the instant gratification cheap goods US consumer.

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My goodness soxcat how blinded by partisanship are you? Do you really not understand supply chain?  The notion customers will come back to the U.S when the trade war is over is pure idiocy as is the idea we can simply replace China as a customer. So much for republicans being pro business. 

Edited by oldschool
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The rhetoric from China has definitely amped up as they prepare their people to endure any future hardships.  

 

,... "At present, the United States completely overestimates its ability to control the global supply chain and is due to slap itself in the face when it sobers up from its happy, ignorant self-indulgence," said the commentary published under the pseudonym Wuyuehe. "Don't say we didn't warn you."...

 

https://www.cnn.com/2019/05/30/asia/china-us-peoples-daily-trade-war-intl/index.html

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1 minute ago, ctm said:

These new tariffs will gradually rise from 5% in June to 25% in Sept. if nothing is done by Mexico.

 

How this will affect the auto industry.....

 

https://finance.yahoo.com/news/trumps-mexico-tariffs-will-cripple-us-automakers-090832418.html

At what point to Republican donors and Republicans step in and force Trump's hand? 

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