Legaltitan

Trade War - how is that working out?

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18 hours ago, ctm said:

 

It hasn't been that long ago that Trump posters were raving about what a great deal he made with North Korea.

 

I'll wait for the details instead of a tweet. Last time Trump tweeted about China buying billion of dollars of agriculture goods, there was a misinterpretation of the amount of goods the Chinese actually agreed to buy.  The phrase "many, many" seems like a lot to 4th graders, but it does not mean billions.

 

By the way, what is the status on the new NAFTA deal?

Edited by Btowner

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57 minutes ago, Btowner said:

 

I'll wait for the details instead of a tweet. Last time Trump tweeted about China buying billion of dollars of agriculture goods, there was a misinterpretation of the amount of goods the Chinese actually agreed to buy.  The phrase "many, many" seems like a lot to 4th graders, but it does not mean billions.

 

By the way, what is the status on the new NAFTA deal?

 

The article I read this AM said that the agreement with China that Trump was tweeting about said that any new tariffs would be frozen and China would agree to buy some agriculture products.  Nothing about the existing tariffs  already in place and timeline to do so or theft of intellectual property, etc.

 

https://www.cnbc.com/2019/10/11/wall-street-has-doubts-after-partial-trade-deal.html

 

The agreement with Mexico and Canada is in the House for consideration.

Edited by ctm

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A former GOP county chairman and Ohio farmer said Monday he wouldn't vote for President Trump again even if the president walked on water.

 

Chris Gibbs, the former chairman of the Shelby County Republican Party, told CNBC that he feels "dubious" about the Trump administration's announced agricultural buys from China amounting to $40 billion to $50 billion amid the heated trade war between Washington and Beijing that experts say has hit farmers particularly hard.

 

"He could come up with this $50 billion, he could walk across my pond and not get wet, and I’m still not going to vote for him because, you know, at the end of the day my name is Chris Gibbs, it’s not Judas, and I’m not going to sell my political moorings for 30 pieces of silver," Gibbs said.

 

The soybean and corn farmer voted for Trump in 2016 but said he's "out" when it comes to supporting Trump this time around. The president announced Friday that China and the U.S. had agreed on a "phase one deal," in which China would commit to purchasing billions of dollars in agricultural products. 
 

“I don’t believe it until [the crops are] on the boat. This is deja vu all over again,” Gibbs said, referring to the president's previous announcements that Mexico and the European Union would purchase large amounts of agriculture products. “He’s done that before. Somebody has to speak truth to power a little bit,” Gibbs said. “And I hate to be a downer on this all the time, but somebody has to be practical.”

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Who didn't see this

 

The Fantastically Profitable Mystery of the Trump Chaos Trades

 

The president’s talk can move markets—and it’s made some futures traders billions. Did they know what he was going to say before he said it?

 

But these wins were peanuts compared to the money made by a trader, or group of traders, who bought 420,000 September e-minis in the last 30 minutes of trading on June 28. That was some 40% of the day’s trading volume in September e-minis—making it a trade that could not easily be ignored. By then, President Trump was already in Osaka, Japan—14 hours ahead of Chicago—and on his way to a roughly hour-long meeting with China’s President Xi Jinping as part of the G20 summit. On Saturday in Osaka, after the market had closed in Chicago, Trump emerged from his meeting with Xi and announced that the intermittent trade talks were “back on track.” The following week was a good one in the stock market, thanks to the Trump announcement. On Thursday, June 27, the S&P 500 index stood at about 2915; a week or so later, it was just below 3000, a gain of 84 points, or $4,200 per e-mini contract. Whoever bought the 420,000 e-minis on June 28 had made a handsome profit of nearly $1.8 billion.

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