Trump to enact $50 billion in tariffs against China, threatening $100b more

[ch33zw1z]

trade wars are good and easy to win

People are saying

 

[Mai72]

trade wars are good and easy to win

everyone wins wins?

 

[Mai72]

Anyway, we're due for a recession.

We will see if that recession is temporary or something bigger.

 

[ivwshane]

if my portfolio can recover from today's losses I'm going to GTFO of the market for a bit.

Why?

I'm waiting for the bottom and then going all in.

 

[dawp]

well who didn't see this coming?
http://www.bbc.com/news/world-us-canada-43622862

what was the moron in chief expecting?

 

[ch33zw1z]

well who didn't see this coming?
http://www.bbc.com/news/world-us-canada-43622862

what was the moron in chief expecting?

That's the easy winning coming into play.

 

[Puffnstuff]

That's the easy winning coming into play.

I fully expect for the EU to take the lead for the west since uber retardedness has fallen upon us.

 

[K1052]

China reinstated an ethanol tariff as well that will basically, for now, effectively end US ethanol exports to them.

They're definitely going after Trump Country.

 

[VRAMdemon]

trade wars are good and easy to win

Trump views every interaction as a zero sum game. Every interaction in Trumps mind has a winner and a loser. Even a handshake. He has to win every freakin' handshake. There is no such thing in Trumpland as a draw, a compromise, a happy medium, give and take, or even a win-win. He alone has to win, and because of that, someone has to lose. And it doesn't matter who loses. He only plays for himself. There's no "team Trump". He has no loyalty to anyone and yet he expects absolute loyalty from his minions. And we're seeing evidence of that every day, often more than once a day. But trade is the perfect example of a positive sum game. You give me something that I want and I give you something that you want, we both win. But not to Trump, if he hurts someone else its a win for him, even if he himself is hurt by it.

 

[fskimospy]

China has just added another $50 billion in tariffs in response to Trump’s latest move.

https://www.washingtonpost.com/worl...445cc4dfa5e_story.html?utm_term=.21f702d957cb

I hope the farmers that voted for Trump enjoy all the winning.

 

[Puffnstuff]

China has just added another $50 billion in tariffs in response to Trump’s latest move.

https://www.washingtonpost.com/worl...445cc4dfa5e_story.html?utm_term=.21f702d957cb

I hope the farmers that voted for Trump enjoy all the winning.

This is what happens when you add stupid + batsh!t crazy into the same mixing bowl.

 

[K1052]

China has just added another $50 billion in tariffs in response to Trump’s latest move.

https://www.washingtonpost.com/worl...445cc4dfa5e_story.html?utm_term=.21f702d957cb

I hope the farmers that voted for Trump enjoy all the winning.

I'm starting to wonder if Trump will manage to totally collapse the US ag economy by the end of his term.

To quote the man himself: We'll see what happens!

 

[Paratus]

I'm starting to wonder if Trump will manage to totally collapse the US ag economy by the end of his term.

To quote the man himself: We'll see what happens!

I’m wondering if it will be by November.

Hey isn’t the GOP going to run on tax cuts and how strong the economy is?

 

[fskimospy]

I’m wondering if it will be by November.

Hey isn’t the GOP going to run on tax cuts and how strong the economy is?

Tax cuts could be hard as now the White House is arguing their tax cuts will suppress wages.

https://www.marketwatch.com/story/w...ticizes-fed-interest-rate-forecast-2018-04-02

Inflation was likely to remain tame because Trump’s tax cuts are going to spur investment and productivity growth, thus putting downward pressure on wages, he added.

They can’t even keep their own bullshit straight.

 

[K1052]

I’m wondering if it will be by November.

Hey isn’t the GOP going to run on tax cuts and how strong the economy is?

The idea that the midterms would be anything but a referendum on Trump was always fanciful.

 

[K1052]

https://www.cnbc.com/2018/04/03/pet...he-market-but-economists-arent-buying-it.html

Navarro is so fucking stupid it's hilarious. Trump really found somebody who who's shitty ideas mirror his and reinforce him in a feedback loop.

As markets plummeted Monday, White House aide Peter Navarro insisted fears of a trade war and President Donald Trump's attacks on Amazon were all wrong.

"Everybody needs to relax," Navarro told CNBC. Trump's trade policy is "good for the market," he insisted, adding: "I teach that stuff. I mean, let's remember – if anybody knows what goes wrong with these models, it's the guy who knows how to teach them."

Navarro described the economy as "hitting on all cylinders because of President Trump's economic policies." Specifically, he cited rising investment spurred by tax cuts.

"Where's the extra investment? Not in the data," wondered Jared Bernstein, an opponent of the tax cuts at the Center on Budget and Policy Priorities. Holtz-Eakin, a tax-cut backer, agreed "the evidence of success is just not in."

Calling the trade crackdown evidence that Trump "has the back of American businesses and workers," Navarro dismissed the risk of escalation. "I don't think this is going to be action/response, action/response," he said.

 

[fleshconsumed]

Well, China is playing hardball instead of rolling over and playing dead. Hold on to your hats lads, it's going to be a rough ride.

 

[VRAMdemon]

Dow futures may open 500 points down...

https://www.cnbc.com/2018/04/04/us-s...-in-focus.html

I suspect today's the day when some angry members of the GOP pick up the phone and drop some choice language on the other end of the phone line. Trump will then probably pick up the phone and ask his henchmen to call China and work out a deal. In reality, Trump will capitulate, but China, not wanting to go to the mat either, will allow Trump to save some face and let him call a minor breakthrough a "victory" for the Trump administration.

But the real damage is being done every day, as more countries and investors realize that this is not the same old "safe haven" for global investment it has always been. Even if Trump backs out now he's already done damage to our economy.

 

[senseamp]

Republicans want to privatize your Social Security, but are also crashing the stock markets. Throw these bums out.

 

[MtnMan]

This buffoon is too damn stupid to realize that all of that 50,000,000,000 comes out of the US economy, and will fuel inflation and a recession. But he gets to play billy bad ass on the world stage and his ignorant ass supporters are still starry eyed.

 

[fskimospy]

Dow futures may open 500 points down...

https://www.cnbc.com/2018/04/04/us-s...-in-focus.html

I suspect today's the day when some angry members of the GOP pick up the phone and drop some choice language on the other end of the phone line. Trump will then probably pick up the phone and ask his henchmen to call China and work out a deal. In reality, Trump will capitulate, but China, not wanting to go to the mat either, will allow Trump to save some face and let him call a minor breakthrough a "victory" for the Trump administration.

But the real damage is being done every day, as more countries and investors realize that this is not the same old "safe haven" for global investment it has always been. Even if Trump backs out now he's already done damage to our economy.

This is the real problem. I think people overstate the damage a trade war would do to us in the short term as international trade isn't THAT big a part of our economy. It would be bad, but not a catastrophe. The thing is that all of our trading partners going forward are going to view us as a potentially unreliable partner because of this idiot, which likely means worse terms for us in the future.

It's amazing how much of our standing and the international order relied on the President of the United States not being a moron. I doubt other countries will be so trusting of it in the future. After all even if the next president undoes all this crap I know I would be thinking 'what if they elect another Trump next time?'.

 

[zerocool84]

Got an email from a vendor we buy stucco netting from at my job that there is a 25% increase in cost because the tariffs on imported metal. This is a basic thing used in building all types of structures FYI.

 

[K1052]

Got an email from a vendor we buy stucco netting from at my job that there is a 25% increase in cost because the tariffs on imported metal. This is a basic thing used in building all types of structures FYI.

We're redoing the numbers on all the projects we have to see if we can cost effectively construct with the increases for materials we're seeing if pricing isn't locked in, not encouraged with what we are hearing. Several of our landlords are doing the same. These escalating costs are going to blow out the pro formas on a ton of shit.

 

[MrSquished]

China responded by proposing approx 50 billion in tariffs against US products, from soybeans to cars.

https://www.cnbc.com/2018/04/04/china-new-us-tariffs-including-soy-cars-and-chemicals.html

 

[Phokus]

Trump is a moron, shocking news at 11