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Keyword: tariff

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  • Who is Paying for the Trade War with China?

    10/09/2019 5:36:36 AM PDT · by BeauBo · 5 replies
    EconPol ^ | Nov 2018 | Benedikt Zoller-Rydzek and Gabriel Felbermayr
    The greatest share of the tariff burden falls not on American consumers or firms, but on Chinese exporters... a 25 percentage point increase in tariffs raises US consumer prices on all affected Chinese products by only 4.5% on average, while the producer price of Chinese firms declines by 20.5%. The US government has strategically levied import duties on goods with high import elasticities, which transfers a great share of the tariff burden on to Chinese exporters.
  • Donald Trump’s ready to escalate US trade war if deal not agreed soon

    09/20/2019 6:14:35 AM PDT · by BeauBo · 19 replies
    South China Morning Post (Hong Kong) ^ | 19 Sep 2019 | Finbarr Bermingham
    Tariffs on Chinese goods ‘could go to 50 per cent or 100 per cent’, Michael Pillsbury says. But the American leader is not pursuing ‘cold war 2.0’, and US-China decoupling would be a ‘consequence of no agreement’ by Beijing, he says. The United States is set to ramp up the pressure on China if a trade deal is not agreed soon, a key White House adviser said... Described by US President Donald Trump as “the leading authority on China”, Michael Pillsbury said in an interview in Hong Kong on Thursday that Trump had been “remarkably restrained in the pressure he...
  • Goldman Sachs Analysis: Good Grief, Trump Might Be Serious About China

    09/15/2019 3:21:00 PM PDT · by Texas Fossil · 11 replies
    The Conservative Treehouse ^ | September 15, 2019 by sundance | Sundance
    This is funny in so many ways; especially for CTH readers who have a far better-than-ordinary understanding of the big picture Trump goals around China.(1) CNBC tweeted this story last night (note the date/time). (2) It is written exclusively from the perspective of the Goldman Sachs analysts who represent the U.S. multinational position. (3) However, the article was actually written on May 12, 13, 2019.What is funny about CNBC pushing this story, NOW, is how the claims within the CNBC story can be fact checked; and their predictions are, well, absurd (especially in hindsight).   Keep in mind this was written...
  • Prediction: the coming collapse of China’s Ponzi scheme economy

    09/08/2019 10:16:18 PM PDT · by BeauBo · 77 replies
    SCMP (Hong Kong) ^ | 27 Aug, 2017 | Jake Van Der Kamp
    So much production in industries like steel is based on demand for more production, but should that demand falter, the whole system could come crashing down... Consider crude steel production, a test-tube example of how command economies get it wrong. In the mainland this stood in June (2017) at an all time monthly record of 73 million tonnes, five times the total production in all of Europe. Why is so much steel needed? ...to build more steel mills ...to build more shipyards, ...so that more ships can be built to carry more iron ore, ...to build more shipyards... What we...
  • China’s exports to the US are falling sharply

    09/08/2019 8:50:44 PM PDT · by BeauBo · 40 replies
    CNBC ^ | SEP 8 2019 | Reuters
    China’s exports unexpectedly fell in August as shipments to the United States slowed sharply... Beijing is widely expected to announce more support measures in coming weeks to avert the risk of a sharper economic slowdown as the United States ratchets up trade pressure, including the first cuts in some key lending rates in four years. On Friday, the central bank cut banks’ reserve requirements for a seventh time since early 2018 to free up more funds for lending, days after a cabinet meeting signalled that more policy loosening may be imminent... China’s August exports to the United States fell 16%...
  • Chinese reaction to Donald Trump tariff wars…

    08/28/2019 1:34:18 AM PDT · by vannrox · 27 replies
    Metallicman ^ | 8-28-2019 | editorial staff
    Not, that I want to get too political, but this video that is playing all across China pretty much says it all. ItÂ’s all about the Trump Trade War. And it shows how the Chinese feel about it. This post is about a movie that is playing all over China this Summer. It is allegorical. While it is a story about a British Boxing champion, and his involvement within China, there are very CLEAR parallels about what is going on in the Trump Tariff situation. China has this alligorical movie about the Trump USA trade war with China that has...
  • Home Depot says suppliers are moving manufacturing out of China to avoid tariffs

    08/21/2019 12:42:04 PM PDT · by BeauBo · 42 replies
    CNBC ^ | August 20, 2019 | Jasmine Wu
    Home Depot’s suppliers are trying to head off some of the increased costs from rising tariffs by moving at least some of their production out of China, executives told investors Tuesday. “I’m not aware of a single supplier who was not moving some form of manufacturing outside of China,” said Ted Decker, executive vice president of merchandising. “So we have suppliers moving production to Taiwan, to Vietnam, to Thailand, Indonesia and even back into the United States.” CEO Craig Menear said the tariffs on Chinese goods are projected to have a “cost impact” on U.S. sales of about 2%, or...
  • Christians laud decision to exempt Bibles from Trump’s tariff hike on Chinese goods

    08/16/2019 9:37:50 AM PDT · by Faith Presses On · 14 replies
    The Christian Post ^ | 8/15/19 | Brandon Showalter
    Christian leaders are hailing the Trump administration's decision to remove Bibles and other religious books from its lists of Chinese goods facing a 10 percent hike in tariffs. The office of U.S. Trade Ambassador Robert E. Lighthizer said Tuesday that the 10 percent tariff hike on Chinese goods starting Sept. 1 won’t affect Bibles, according to multiple reports. On Tuesday, the USTR released two lists of items that will be subject to tariffs starting Sept. 1 and items in which tariffs will be applied on Dec. 15. * * * Christian publishers are also welcoming the development because of how...
  • China exchange rate drop could continue into 2020 as it tries to offset US tariff impact: Analysts

    08/05/2019 9:48:58 AM PDT · by SeekAndFind · 65 replies
    South China Morning Post ^ | 08/05/2019 | by Karen Yeung and He Huifeng
    The decline of China’s yuan on Monday to its lowest level in 11 years against the US dollar could continue into 2020 amid the apparent shift in its policy stance by the Chinese authorities, who are showing increasing reluctance to provide concessions to resolve its trade war with the United States. The Chinese currency’s drop has also rattled the currency market, sending 11 regional currencies lower. The yuan slid 1.3 per cent to 7.0298 against the dollar on Monday in response to President Donald Trump’s threat to impose a new 10 per cent tariff on the US$300 billion of Chinese...
  • Gertz: Real Election Meddling Threat From China, Not Russia

    08/01/2019 9:47:11 PM PDT · by Freedom56v2 · 37 replies
    Washington Free Beacon ^ | 08/01.19 | Washington Free Beacon Staff
    Washington Free Beacon senior writer Bill Gertz appeared on Mark Levin's radio show Thursday evening to discuss his recent interview with Chinese dissident Guo Wengui about China's efforts to influence the 2020 presidential election. In his conversation with Levin, Gertz reflected on his interview with Guo, who told Gertz earlier this week that the Chinese government has been deploying a prolonged campaign to defeat President Donald Trump in 2020. Gertz asserted the Chinese government may try to wait out Trump's time in office so it can negotiate trade deals with a new Democratic president if Trump loses in 2020. Trump...
  • Peter Navarro Discusses MAGAnomics, Tariffs and GDP with Maria Bartiromo

    08/01/2019 10:36:24 AM PDT · by BeauBo · 2 replies
    Conservative Treehouse ^ | August 1, 2019 | sundance
    Navarro outlines the background of the second quarter GDP result... the two primary drags on the Q2 release are also the most volatile: Export/Import contributions (-.65%), and Inventory contributions (-.86%). However, consumer spending was much stronger than anticipated (+4.3%) showing the internal strength of the U.S. labor market and the impact of wage growth which now exceeds 5.5 percent. The rebound in Q3 is going to be very, very good.
  • Free Trade and the ‘Cheap Goods’ Delusion

    06/25/2019 7:00:19 AM PDT · by Thalean · 20 replies
    American Greatness ^ | June 22, 2019 | Spencer P Morrison
    Between 1348 and 1352 a monstrous plague—the Black Death—ravaged Europe. The disease struck young and old, men and women, saint and sinner alike. Half the population died. Whole cities disappeared. Western Civilization was on the brink of collapse. What caused this plague? Bad smells. Foul odors. The stench of decay. This was considered unequivocal, scientific fact—that is until we invented the microscope and discovered that an entire world of miniature animalcules existed right under our noses. In time we realized that these creatures caused illness: germ theory was born, and with it died the centuries-old miasma theory of disease. Received...
  • Narendra Modi is what Trump would be without constitutional restraints [BARF Alert x 2]

    06/15/2019 12:06:16 AM PDT · by Jyotishi · 12 replies
    The Week ^ | June 13, 2019 | Shikha Dalmia
    Both my native country, India, and my adopted country, America, are liberal democracies that are right now in the thrall of right-wing populist demagogues -- Prime Minister Narendra Modi in India's case and President Donald Trump in America's. Few would deny that between the two, Trump is the crazier one -- a showboat with impulse control issues. Modi, by contrast, a humble tea stall owner once, is a veritable picture of discipline and restraint. Yet Modi, who got re-elected by a landslide last month, is potentially more dangerous because Indian democracy lacks strong institutional checks on his illiberal ambitions. In...
  • Texas border town feels stress of Trump tariff threat against Mexico

    06/10/2019 9:37:43 AM PDT · by McQ444 · 32 replies
    NBC ^ | 06-10-19 | Phil McCausland
    LAREDO, Texas — The edges of this small border city bustle with activity as construction vehicles clear flat expanses of land for massive warehouses, and semi-trucks moving American and Mexican goods appear to cover every inch of roadway. To James Gonzalez, 33, the sterile, boxy buildings and traffic congestion only a few miles from the five bridges that connect the U.S. to Mexico represent financial success and future business opportunities. The city's fortunes, based entirely on trade between the two countries, is forever tied to the United States’ kinship with or animus for its southern neighbor. The closeness of that...
  • Trump wins

    06/07/2019 5:38:42 PM PDT · by Hojczyk · 127 replies
    twitter ^ | Hojczyk
    I am pleased to inform you that The United States of America has reached a signed agreement with Mexico. The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended. Mexico, in turn, has agreed to take strong measur
  • Here Are The Republicans In Congress Standing With Trump Over Mexico Tariff Threat

    06/05/2019 3:39:33 PM PDT · by ding_dong_daddy_from_dumas · 50 replies
    Daily Caller ^ | 06/05/2019 | Henry Rodgers
    A number of Republicans in the Senate are standing with President Donald Trump over his threat to apply tariffs to Mexico on Tuesday after several party members spoke out against it. Senate Majority Leader Mitch McConnell said Tuesday that “there is not much support in my conference for tariffs” and he is hoping that the tariffs are not implemented. Other Senators also decided to speak out against Trump’s threat. Utah Republican Sen. Mitt Romney said he will not support applying a tariff to Mexico, saying he “would not be inclined to vote [for] a tariff against a friend,” Politico reported...
  • Mexico Officials Prepare To Intercept About 1,000 Migrants

    06/05/2019 11:44:32 AM PDT · by Its All Over Except ... · 37 replies
    Fox News ^ | 6/5/2019 | Marco Ugarte
    Metapa, Mexico - Some 200 military police, immigration agents and federal police were awaiting a group of about 1,000 Central American migrants who were walking north along a southern Mexico highway on Wednesday. The group of migrants, including many women and children, set out early from Cuidad Hidalgo at the Mexico Guatemala border and was headed for Tapachula, the principal city in the region. State and local police accompanied the caravan. ...
  • China threatens corporate hit list on eve of new US tariffs

    06/02/2019 1:37:52 PM PDT · by tcrlaf · 26 replies
    Reuters ^ | 6-2-2019 | Stella Qiu and Dominique Patton
    China on Friday threatened to unveil an unprecedented hit list of "unreliable" foreign firms, groups and individuals who harm the interests of Chinese companies as a slate of retaliatory tariffs on imported U.S. goods was set to kick in at midnight. The commerce ministry did not single out any country or company, but the threat could further heighten tensions after Washington this month put Huawei on a blacklist that effectively blocks U.S. firms from doing business with the Chinese telecoms equipment giant. Beijing's "unreliable entities list" would apply to those who violate market rules and the spirit of contracts, block...
  • Mitt Romney warns of harmful consequences for American consumers if Trump imposes tariffs on Mexico

    06/02/2019 12:04:17 PM PDT · by Trump20162020 · 159 replies
    The Salt Lake Tribune ^ | June 1, 2019 | Thomas Burr
    Sen. Mitt Romney warned Friday that President Donald Trump’s proposed tariffs against Mexico were the wrong approach and could harm Americans more than they help curtail illegal immigration. “A tariff targeting Mexico that negatively impacts our own interests will only end in a waiting game of increasingly harmful consequence to the American people,” Romney said.
  • Stephen Miller’s Racism Might Cause a Recession

    06/02/2019 3:27:35 AM PDT · by Zhang Fei · 34 replies
    Slate ^ | May 31, 20193:34 PM | Jordan Weissmann
    Nobody is happy about Donald Trump’s new threat to slap tariffs on Mexico unless it clamps down on migrants crossing the border. Well, almost nobody. Investors? They’re panicking. Stocks are down. So are treasury yields, which is a sign that folks are worried and fleeing to safe assets. Mexico? What do you think? Republicans in Congress? Senate Finance Chair Chuck Grassley says the move is a “misuse of presidential tariff authority and counter to congressional intent.” The business lobby? It’s peeved. Trump’s own advisers? Some of them are reportedly furious. Specifically, Treasury Secretary Steve Mnuchin, a free trader, and U.S....