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

[FelixDeCat]

Your neighbor shows you his ass through the window and shits on your driveway, so you should show your neighbor your ass and shit on his driveway in return, right?

US conservatives are essentially political toddlers.

Keep on keepin' on.

I was asking the question rhetorically. But there must be a solution to balancing trade with China, right?

 

[Brainonska511]

I was asking the question rhetorically. But there must be a solution to balancing trade with China, right?

And how do you balance trade? How do you decide how much intangible exports are worth? How do you account for inbalances caused by the fact that the USD is the world's reserve currency, so other countries trading with one another can increase the value of the USD and affect our so called trade inbalance?

 

[Hugo Drax]

A day late and a dollar short,

China rope a doped these "profit only matters" corporations to bring over their manufacturing first (because the lowest cost human commodity used to be referred to as a person years ago is good enough to put the widget together no need for an overpaid living wage demanding American that eats into corporate profits),

and it was all fun and games because the only one that got hurt was middle class America but they were somewhat pacified and brainwashed with "always low prices" while the corporate owners reaped the profits with their new found foreign serfs,

then China started going after their family Jewels also known as Intellectual Property through coercion, theft, etc. and now these dumb ass corporations are crying to the TAX payer funded US government to save them from their own greed and stupidity that the Chinese took advantage of by sacrificing their people and environment until they became big enough to tell Western corporations how the game is played and now these corporate fools are begging Trump to save them.

If China decided to punish the US by shutting down access to Foxconn to companies like Apple, how would they survive? They would be able to make any product and it would take decades to build factories to start making phones again.
Short term greed to meet those quarterly statement in order to pump up stock prices at the long term expense to the company.

 

[OWR88]

US manufacturing was strong after the world wars when Europe was rebuilding and Asia just figured out guns kill faster than ninjas and Kung Fu.

Now the global economy is showing a level playing field and Trump voters want a bigger piece of the pie? We imposed 25% tariff on trucks rendering all overseas truck manufacturing worthless. Since we are the only truck thirsty nation on Earth we essentially shut down the World from producing trucks.

You sell apples and you need to buy baskets in order to sell apples. However that basket maker only buys a few apples from you while you buy a ton of basket from him. Now you have a trade deficit, but you are so pissed at the basket maker for some reason, maybe because he is Chinese and his baskets have holes sometimes. So do you now start to tax.each other? Remember the basket maker is selling to peach and berry sellers too.

Essentially what Trump and his retarded cult is asking, is that China to charge us more for the goods they are sending over, or for US to lower price exporting to China. So we can reduce the trade deficit.

Keep in mind, China is a huge growing market and the whole World knows it except for Trump cult retards. China has been extremely pro US and willing to pay for US "high end" goods. Their mentality is changing rapidly thanks to the idiot in the White House. They are moving quickly towards Europe, the new silk road and especially Australia. The World has been happy letting US be the police around the World but that is changing as well. They are calling Merkel or Xi as "leader" of the free World instead of the guy in our white house.

Sad.

 

[OWR88]

And since when did the Republican party love tariffs? I thought they love free market and hate taxes. This cult has to top, and the ass kissing has to stop.

Someone from Fox news and GOP please grow a pair of balls. They have no brain, but at lease grow a pair.

 

[TheGreatBigDog]

It's about time steps in the right direction were taken.

 

[FelixDeCat]

And how do you balance trade? How do you decide how much intangible exports are worth? How do you account for inbalances caused by the fact that the USD is the world's reserve currency, so other countries trading with one another can increase the value of the USD and affect our so called trade inbalance?

There is nothing "so called" about it:

https://www.thebalance.com/trade-deficit-by-county-3306264

Most of the trading partners that the United States has deficits with fall into the first two categories. The two largest are China and Japan. Some of the largest deficits are with countries in the last category. They include Canada, Mexico, and Germany.

That's why the countries with which the United States has the largest trade deficits in goods are not always its most important trading partners. Some nations export a lot without importing much. But the top five trading partners also have the largest deficits. Please note that the Census provides trade data by country for goods only, not services.

1. China - $636 billion traded with a $375 billion deficit.
2. Canada - $582 billion traded with an $18 billion deficit.
3. Mexico - $557 billion traded with a $71 billion deficit.
4. Japan - $204 billion traded with a $69 billion deficit.
5. Germany - $171 billion traded with a $65 billion deficit.

 

[Puffnstuff]

Now China is going to hit farmers and the aircraft industry with new tariffs. Watching the dumbest president in our history at the wheel is no longer comical. The only things he can grasp are Faux News, cheeseburgers and women (involuntarily).
https://www.cbsnews.com/news/trade-dispute-china-vows-to-fight-us-at-any-cost-trade-tensions-worsen/

 

[sdifox]

It's about time steps in the right direction were taken.

Oh look new troll farm graduate

 

[Paratus]

Now China is going to hit farmers and the aircraft industry with new tariffs. Watching the dumbest president in our history at the wheel is no longer comical. The only things he can grasp are Faux News, cheeseburgers and women (involuntarily).
https://www.cbsnews.com/news/trade-dispute-china-vows-to-fight-us-at-any-cost-trade-tensions-worsen/

One of the areas of import China is targeting for tariffs is soybeans. Why soybeans you may ask? Well look at this:

Compared to the 2016 electoral map:

Well the president shouldn’t worry I’m sure the soybean farmers who’ll stand to lose millions will understand his nuanced approach to international trade and rein in their economic anxiety when voting this November. Right?

 

[Puffnstuff]

Well the president shouldn’t worry I’m sure the soybean farmers who’ll stand to lose millions will understand his nuanced approach to international trade and rein in their economic anxiety when voting this November. Right?

We can only hope this will be true but considering the amount of confirmation bias his base harbors I wouldn't hold my breath.

 

[Brainonska511]

There is nothing "so called" about it:

https://www.thebalance.com/trade-deficit-by-county-3306264

I'm saying the metrics used to determine how it is calculated are not necessarily objective.

If an iPhone is manufactured in China out of $100 parts, but gets sold in the US for $400, what would the deficit be? How much is the intellectual property, which was made in the US, worth? How much is the deficit inflated by other countries' own trading activities driving in the process of the US dollar, totally independent of our actions. And how much of that trade deficit money might flow back into our economy in the form of investments? The trade deficit is not as objective or independent of other factors as people make it out to be.

I also think your source needs updating, I believe we have a trade surplus with Canada of $8.4 billion, as of 2017. https://ustr.gov/countries-regions/americas/canada

 

[Demo24]

At least some seem to be turning on him, and this is before the tarrifs: "In a March survey of 750 farmers, largely concentrated in the Plain states and the Midwest, 67 percent said they voted for Trump and 45 percent said they would do so again."

https://www.washingtonpost.com/news...-trade-war-he-started/?utm_term=.19fd77b75141

Per this, if China did enact the tarrifs and soybeans fell below $10, I think a lot more would turn.

 

[sdifox]

Best part is part of China is limiting GMO siybean import to animal feed. So IS farmers are switching to non GMO, which means this will hurt even more.


Elections have consequences.

 

[K1052]

Seems like a fair bet that Trump will collapse US trading relationships just because he's stupid and is terrified of looking like a pussy. Good thing he's not doing it on his own dime I guess.

Enjoy America!

 

[Puffnstuff]

Seems like a fair bet that Trump will collapse US trading relationships just because he's stupid and is terrified of looking like a pussy. Good thing he's not doing it on his own dime I guess.

Enjoy America!

He's already purchased all of the cheap Chinese steel he wanted before taking office so he doesn't care.

 

[Fenixgoon]

i think this is how trump negotiates: https://www.youtube.com/watch?v=e1PUSaoxteQ

 

[MrSquished]

The ship has sailed with China. American businesses, and nobody else, sold us down the river in search of cheap labor and higher profits. All they saw were $ signs. They knew what kind of playing field they were getting into and they did it anyway. No trade war is going to change this. China owns our manufacturing, owns a huge consumer and industrial market, and owns a shitload of our treasuries they can wage war with as well.

Trump has no clue what he is doing.

 

[VRAMdemon]

Seems like a fair bet that Trump will collapse US trading relationships just because he's stupid and is terrified of looking like a pussy. Good thing he's not doing it on his own dime I guess.

Enjoy America!

Trump is playing Kung Pao Chicken...The DJIA had 2 good days in a row. He’ll just keep poking the Tariff button until he can get it to crash again. He probably sees the return of stock market bulls as validation for his tariff "strategy". The irony is that while the stock market might continue to see saw, there is going to be a political cost (and as a result, an economic cost) paid by many of the farmers who voted to MAGA. The farmers voted for deregulation and for America to be ruled by Hollywood elitist carnival barker; they didn't intentionally vote to be ruled by an economic moron.

Donnie called China's retaliation 'unfair'.This is the way thinks. They can do anything they want to others, but they whine like a bitch when others reply in kind. Actually it's not "thinking", what he does is called a tantrum. Never mind he cuts off his own nose doing it because he's his own best advisor. Just ask him.

 

[fskimospy]

I imagine the end game of this is that both countries eventually stand down and make some minor concessions on one point or another. Trump will paint this minor concession as some sort of huge win and declare that he's fixed the US/China trade relationship. The only thing he's trying to get out of this is to have people pay attention to him and think he's tough and good or whatever.

While that would be deeply stupid and a waste of everyone's time that's probably the best case scenario. If we actually end up in some sort of trade war it's going to hurt both countries for no reason. In the end my guess is China is more willing to absorb economic pain than we are.

 

[K1052]

In the end my guess is China is more willing to absorb economic pain than we are.

No elections and Xi is basically a dictator now. So yeah.

While China is going to run out of tit for tat tariff retaliation soon they can make life impossible for US companies doing business there. And those companies need to do business there.

 

[SMOGZINN]

In the end my guess is China is more willing to absorb economic pain than we are.

And in the end it is probably the right move for them to do so. They are on the brink of being the largest growing economy in the world. At their current rate in a few decades they won't need America, but America will still need them. They know this and are leveraging themselves for the long term gain.

Our trade deficit with China is just going to continue to grow.

 

[Zorba]

One of the areas of import China is targeting for tariffs is soybeans. Why soybeans you may ask? Well look at this:

Compared to the 2016 electoral map:

Well the president shouldn’t worry I’m sure the soybean farmers who’ll stand to lose millions will understand his nuanced approach to international trade and rein in their economic anxiety when voting this November. Right?

"The other guy supports killing babies and gays getting hitched? How could I vote fore that?" You all are completely disconnected from the average thought process of the hardened republican.

 

[Uhtrinity]

"The other guy supports killing babies and gays getting hitched? How could I vote fore that?" You all are completely disconnected from the average thought process of the hardened republican.

So true, its primary season here in Idaho. All the gubernatorial candidates are trying to outrun their opponents on traditional marriage, banning abortion, killing Obamacare, cutting taxes, and GUNS! It's crazy. It's like nothing else exists in their world.

 

[brandonbull]

Now China is going to hit farmers and the aircraft industry with new tariffs. Watching the dumbest president in our history at the wheel is no longer comical. The only things he can grasp are Faux News, cheeseburgers and women (involuntarily).
https://www.cbsnews.com/news/trade-dispute-china-vows-to-fight-us-at-any-cost-trade-tensions-worsen/

So the US retaliates against unfair practices by China and you support China?