rooster59 Posted July 20, 2018 Share Posted July 20, 2018 Trump threatens tariffs on all $500 billion of Chinese imports By Lisa Lambert FILE PHOTO: U.S. President Donald Trump participates in a cabinet meeting at the White House in Washington, U.S., July 18, 2018. REUTERS/Leah Millis WASHINGTON (Reuters) - U.S. President Donald Trump on Friday said he was ready to impose tariffs on all $500 billion of imported goods from China, threatening to escalate a clash over trade policy that has unnerved financial markets. "We're down a tremendous amount," Trump said in an interview about trade imbalances with China on CNBC television broadcast on Friday. "I'm ready to go to 500." His comments worried investors already grappling with the impact of a strengthening U.S. dollar on corporate results, and key stock indexes on Wall Street dropped at the open on Friday. The U.S. dollar fell against major currencies on Friday on Trumps threat to impose more import tariffs and his repetition of complaints about rising interest rates and the strength of the U.S. dollar. The dollar index <.DXY>, a measure of its value against a basket of six major currencies, was on track to post its largest one-day loss in three weeks. Against the yen, the dollar was on pace for its worst daily fall in two months. A top Federal Reserve official, meanwhile, warned the trade war could hurt the U.S. economy. Around $505 billion of Chinese goods were imported to the U.S. in 2017, leading to a trade deficit of nearly $376 billion, U.S. government data shows. Chinese imports from the U.S. totaled $205 billion in the first five months of 2018, with the deficit reaching $152 billion. Trump is taking a more aggressive, protectionist posture on trade than his recent predecessors, sparking retaliatory measures from other countries. Earlier this month, the United States imposed tariffs on $34 billion of Chinese imports. China promptly levied taxes on the same value of U.S. products. When asked about the stock market possibly falling if the United States imposes duties on such a large amount of goods, Trump told CNBC: "If it does, it does. Look, I’m not doing this for politics." Still, new tariffs could help Trump's Republican party going into November's congressional elections. More than 70 percent of Republican and Republican-leaning U.S. adults believe increased tariffs between the United States and its trading partners will be good for the country, according to a Pew Research Center survey released late Thursday. However, most economists warn that the imposition of import tariffs could disrupt global manufacturing supply chains, raise input costs and raise prices for consumers, leading to slower economic growth. After the interview, Trump reiterated criticism of the Federal Reserve's planned interest-rate hikes, posting on Twitter that the tightening policy would diminish any U.S. trade advantage and exacerbate losses from "BAD trade deals." St. Louis Federal Reserve Bank James Bullard said on Friday the Fed would remain unaffected by Trump's comments on monetary policy and expressed concerns about rising tariffs. "The escalating trade war, if it goes badly, could be a risk for the U.S. economy," Bullard said, adding he understands the policy's objective. "But it could be that all we end up with is a lot of tariffs globally and a lot of other types of protectionism globally.” -- © Copyright Reuters 2018-07-21 Link to comment Share on other sites More sharing options...
FritsSikkink Posted July 20, 2018 Share Posted July 20, 2018 Consumer prices in the USA through the roof, well done. Link to comment Share on other sites More sharing options...
leeneeds Posted July 20, 2018 Share Posted July 20, 2018 The floating of the Yuan has to happen to be fair in trade, Link to comment Share on other sites More sharing options...
simple1 Posted July 20, 2018 Share Posted July 20, 2018 14 minutes ago, leeneeds said: The floating of the Yuan has to happen to be fair in trade, Trump's ill advised big mouth hasn't helped. https://www.marketwatch.com/story/dollar-digests-trump-comments-as-traders-watch-yuan-action-2018-07-20 Link to comment Share on other sites More sharing options...
bristolboy Posted July 20, 2018 Share Posted July 20, 2018 If you believe that China has been artificially depressing the value of the renminbi, actually the opposite is the case. The Yuan has been floating for a while. Lately it's been sinking. The Chinese government is not happy about it. If anything, it will intervene to prop up the yuan. China Is Expected to Defend Yuan If It Weakens About 1% Further https://www.bloomberg.com/news/articles/2018-06-29/china-is-expected-to-defend-yuan-if-it-weakens-about-1-further Link to comment Share on other sites More sharing options...
mtls2005 Posted July 20, 2018 Share Posted July 20, 2018 Somehow I think Ivanka's clothing made in China will still be exempt. And I'm sure an exemption will be made for ZTE right? "Trade wars are easy to win." Who's tired of all the winning"? I'd call him a buffoon, but that's insulting to buffoons everywhere. Link to comment Share on other sites More sharing options...
AYJAYDEE Posted July 21, 2018 Share Posted July 21, 2018 Time to start dumping US treasuries!! The Chinese will unload in a big way! Link to comment Share on other sites More sharing options...
kalidescopemind Posted July 21, 2018 Share Posted July 21, 2018 Surprised Trump got the Trade deficit number close to correct!!! lol! Link to comment Share on other sites More sharing options...
BEVUP Posted July 21, 2018 Share Posted July 21, 2018 I really can't see the problem Take Auss for example ( I'm no expert ) I walk in the shop here & (lets say mainly Asian countries ) see Auss products ( certainly would not buy them ) - Tariffs Then in Auss come across products Made/Processed in ******** country (cheaper /but quality ? ) - No Tariffs So why are Asian countries in an uproar if Tariffs are imposed ( they have them on everything ) Auss has 30 % or so on beef exports & thought a 3% decrease with Japan was the best deal in the world If these counties stuck to applying Tariffs to what they actually made, then all may be ok Link to comment Share on other sites More sharing options...
BuaBS Posted July 21, 2018 Share Posted July 21, 2018 4 hours ago, bristolboy said: If you believe that China has been artificially depressing the value of the renminbi, actually the opposite is the case. The Yuan has been floating for a while. Lately it's been sinking. The Chinese government is not happy about it. If anything, it will intervene to prop up the yuan. China Is Expected to Defend Yuan If It Weakens About 1% Further https://www.bloomberg.com/news/articles/2018-06-29/china-is-expected-to-defend-yuan-if-it-weakens-about-1-further Depends on which news you believe . china-weaponizes-yuan-weakens-fix-most-2016 us-monitoring-china-currency-manipulation-mnuchin-confirms-trumps-concerns No doubt I trust ZH much , much more than bloomberg. Link to comment Share on other sites More sharing options...
stevenl Posted July 21, 2018 Share Posted July 21, 2018 26 minutes ago, BEVUP said: I really can't see the problem Take Auss for example ( I'm no expert ) I walk in the shop here & (lets say mainly Asian countries ) see Auss products ( certainly would not buy them ) - Tariffs Then in Auss come across products Made/Processed in ******** country (cheaper /but quality ? ) - No Tariffs So why are Asian countries in an uproar if Tariffs are imposed ( they have them on everything ) Auss has 30 % or so on beef exports & thought a 3% decrease with Japan was the best deal in the world If these counties stuck to applying Tariffs to what they actually made, then all may be ok " I'm no expert ". Agreed, your post makes that clear. Link to comment Share on other sites More sharing options...
Tug Posted July 21, 2018 Share Posted July 21, 2018 Atta boy Donald piss off the guy that you need for the n Korea fiasco cost all of us 20% more for everything art of the deal????I don’t know I’m just an old diver ,boat operator but doesent look artfull to me kinda looks crude heavy handed not well thought out perhaps stupid? Link to comment Share on other sites More sharing options...
tomacht8 Posted July 21, 2018 Share Posted July 21, 2018 More than 70 percent of Republican and Republican-leaning U.S. adults believe increased tariffs between the United States and its trading partners will be good for the country, according to a Pew Research Center survey released late Thursday. They only believe, but most have thought the least. They trust their "Führer", the insulting Clown Trump. However, most economists warn that the imposition of import tariffs could disrupt global manufacturing supply chains, raise input costs and raise prices for consumers, leading to slower economic growth. This logic chain is already more correct. Link to comment Share on other sites More sharing options...
TallGuyJohninBKK Posted July 21, 2018 Share Posted July 21, 2018 5 hours ago, rooster59 said: More than 70 percent of Republican and Republican-leaning U.S. adults believe increased tariffs between the United States and its trading partners will be good for the country, according to a Pew Research Center survey released late Thursday. However, most economists warn that the imposition of import tariffs could disrupt global manufacturing supply chains, raise input costs and raise prices for consumers, leading to slower economic growth. Let's see... who should I believe.... head in the sand Republicans, or the world's economists?? Tough choice, but in this case, I think the head in the sanders are NOT going to get my vote! This is not a game Trump and Co. are going to win, at least the confrontational way they're playing now. And in the end, I'm afraid it's average Americans (and others elsewhere) who will end up really losing. Link to comment Share on other sites More sharing options...
mtls2005 Posted July 21, 2018 Share Posted July 21, 2018 2 minutes ago, tomacht8 said: More than 70 percent of Republican and Republican-leaning U.S. adults believe increased tariffs between the United States and its trading partners will be good for the countr This is truly shocking, and relatively recent swing away from the traditional Republican/conservative positions on free trade. Link to comment Share on other sites More sharing options...
TallGuyJohninBKK Posted July 21, 2018 Share Posted July 21, 2018 14 minutes ago, mtls2005 said: This is truly shocking, and relatively recent swing away from the traditional Republican/conservative positions on free trade. I think I said almost exactly the same thing the other day in a different thread on poll results AFTER Trump's Summit speech where something like two-thirds of Republicans still don't believe Russia interfered with the 2016 U.S. presidential election. Pass the Kool-Aid, please! Same exact total and complete about-face by today's Republicans on their stance toward Russia. As I mentioned in the other thread, past Republicans must be turning over in their graves at today's Reps... --Abandoned free trade --Abandoned Russia is an adversary --Abandoned balanced budget etc etc... Link to comment Share on other sites More sharing options...
tomacht8 Posted July 21, 2018 Share Posted July 21, 2018 Trump's global trade war (2018), fits in wonderfully with: Trump Mortgage (2006 - 2007) Trump Steaks (2007) Trump Vodka (2006 - 2011) Trump: The Game (1989 - 1990, 2005) Trump Ice (2010) GoTrump.com (2006 - 2007) Trump Magazine (2007 - 2009) Trump: The New Jersey Generals (1983 - 1985) Trump Airlines (1989 - 1992) Trump Entertainment Resorts (1991,2004, 2009, 2014) Trump Tower Tampa (2006- 2007) Trump University (2005 - 2011) The only thing where Trump has earned money was with the laundry of black money of Russian oligarchs in his construction projects. Link to comment Share on other sites More sharing options...
Lupatria Posted July 21, 2018 Share Posted July 21, 2018 They will need shiploads of antidepressiva when American farmers (already the occupational category with the highest suicide rate) and workers in the manufacturing sector, will learn about China's counter measures. Link to comment Share on other sites More sharing options...
whatsupdoc Posted July 21, 2018 Share Posted July 21, 2018 The US has a gargantuan (and ultimately unsustainable) debt, financed mostly by Asia. The US buys a lot more from Asia than the other way round. Maybe the US should first learn to live within its means before blaming Asia???? Link to comment Share on other sites More sharing options...
Srikcir Posted July 21, 2018 Share Posted July 21, 2018 4 hours ago, AYJAYDEE said: Time to start dumping US treasuries!! The Chinese will unload in a big way! You just shift the US debt to another country. There's plenty of demand for US T-bills, ie., Russia, Canada, Mexico, etc. to maintain its value as a debt instrument. So what's the point? If you mean by "dumping" to sell off US T-bills at a deep discount for quick sale, China takes a loss and the buyer makes more than the stated interest rate on the bond. So again, what's the point? Link to comment Share on other sites More sharing options...
AYJAYDEE Posted July 21, 2018 Share Posted July 21, 2018 1 minute ago, Srikcir said: You just shift the US debt to another country. There's plenty of demand for US T-bills, ie., Russia, Canada, Mexico, etc. to maintain its value as a debt instrument. So what's the point? If you mean by "dumping" to sell off US T-bills at a deep discount for quick sale, China takes a loss and the buyer makes more than the stated interest rate on the bond. So again, what's the point? china will need the money so they will start dumping, the price will fall. I'm gonna dump first Link to comment Share on other sites More sharing options...
BEVUP Posted July 21, 2018 Share Posted July 21, 2018 26 minutes ago, whatsupdoc said: The US has a gargantuan (and ultimately unsustainable) debt, financed mostly by Asia. The US buys a lot more from Asia than the other way round. Maybe the US should first learn to live within its means before blaming Asia???? They buy a lot more from Asia due to being cheap with no import taxes Where as they can't sell anything abroad due to import taxes Link to comment Share on other sites More sharing options...
than Posted July 21, 2018 Share Posted July 21, 2018 Donald, do not start a war if you're not sure of winning it Link to comment Share on other sites More sharing options...
mtls2005 Posted July 21, 2018 Share Posted July 21, 2018 1 hour ago, tomacht8 said: Trump: The New Jersey Generals (1983 - 1985) He still harbors a grudge against the NFL, part of the reason for his idiotic comments on the players kneeling (that, and whipping up his 'base'). The Dallas Cowboys are now estimated to be worth $ 4.8 BILLION dollars. Trump once had the chance to buy that storied franchise for $ 50 Million dollars. https://www.cbssports.com/nfl/news/donald-trump-once-had-the-chance-to-buy-the-cowboys-at-a-dirt-cheap-price/ TRUMP BUILDING THE GENERALS IN HIS OWN STYLE Real-estate developer, new owner of the New Jersey Generals of the United States Football League, at the 68-story Trump Tower on Fifth Avenue: One does not see Donald Trump right away, though; one first must see the eight-minute slide show about Trump Tower and Donald Trump. One is ushered into a plush room - but everything about Trump Tower is plush, from the six-story-high atrium with waterfall in the marble lobby, to a pink marble football on a bronze tee in his office. (There is, however, a sense of style, and the lobby has a pianist and violinist playing in tuxedos, and the marble football has white cotton laces.) https://www.nytimes.com/1984/01/01/sports/trump-building-the-generals-in-his-own-style.html?pagewanted=all But, but, but he's such a successful businessman. Reminds me more Vincent Adultman, a "businessman" on BoJack Horseman. Link to comment Share on other sites More sharing options...
bristolboy Posted July 21, 2018 Share Posted July 21, 2018 2 hours ago, BuaBS said: Depends on which news you believe . china-weaponizes-yuan-weakens-fix-most-2016 us-monitoring-china-currency-manipulation-mnuchin-confirms-trumps-concerns No doubt I trust ZH much , much more than bloomberg. I guess if you believe in Zero Hedge Fund (the guy in charge is a fan of Steve Bannon's economic analysis) you'll believe anything. To be blunt, Zero Hedge Fund is a fake news source. No question about it. Link to comment Share on other sites More sharing options...
tomacht8 Posted July 21, 2018 Share Posted July 21, 2018 2 hours ago, mtls2005 said: This is truly shocking, and relatively recent swing away from the traditional Republican/conservative positions on free trade. Here are a few countries and circumstances that have changed the attitude to the US to the negative. Thanks to Trump's insults to countries and individuals. All of Africa (54 African states) – shithole countries. Mexico - Criminals and rapists (Trade war) Canada - has really stabbed us in the back somehow (Trade war) EU (28 states) – the foe – (Trade war) G7 - Breach of contract within 24 hours (Trade war) China – took advantage of us (Trade war) NATO (29 States) - Good breakfast- (betrayal of trust) Paris Climate Protocol (197 Nations) - a blatant minus business. (US isolation) Süd Korea - Undisclosed commitments from Trump (betrayal of trust) Iran - Exit from the nuclear contract - Malicious system – (US isolation) and many more. And here the never ending list from 487 People, Places and Things Donald Trump has insulted so far. https://www.nytimes.com/interactive/2016/01/28/upshot/donald-trump-twitter-insults.html And more than 70 percent of Republican and Republican-leaning U.S. adults believe that will be good for the Country? Who are those people? Are they completely isolated from world news or what? Link to comment Share on other sites More sharing options...
stevenl Posted July 21, 2018 Share Posted July 21, 2018 2 hours ago, TallGuyJohninBKK said: Let's see... who should I believe.... head in the sand Republicans, or the world's economists?? Tough choice, but in this case, I think the head in the sanders are NOT going to get my vote! This is not a game Trump and Co. are going to win, at least the confrontational way they're playing now. And in the end, I'm afraid it's average Americans (and others elsewhere) who will end up really losing. But they'll blame Democrats, and Trump cs will come out shining. They believe him, whatever happens, whatever he says. Other Repu8blicans are afraid they'll lose, so also have to be seen supporting him. Link to comment Share on other sites More sharing options...
tropo Posted July 21, 2018 Share Posted July 21, 2018 20 hours ago, FritsSikkink said: Consumer prices in the USA through the roof, well done. You've got a long way to go before you start paying what the rest of the developed world does for most stuff. Link to comment Share on other sites More sharing options...
AYJAYDEE Posted July 21, 2018 Share Posted July 21, 2018 10 minutes ago, tropo said: You've got a long way to go before you start paying what the rest of the developed world does for most stuff. well as they no longer make stuff and tariffs are gonna affect imports, they'll soon catch up! Link to comment Share on other sites More sharing options...
tropo Posted July 21, 2018 Share Posted July 21, 2018 1 minute ago, AYJAYDEE said: well as they no longer make stuff and tariffs are gonna affect imports, they'll soon catch up! They better get cracking then (making stuff). It was never going to happen overnight. Link to comment Share on other sites More sharing options...
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