Posted on 12/08/2019 7:55:53 AM PST by Olog-hai
China’s trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war.
Exports to the United States fell 23% from a year earlier to $35.6 billion, customs data showed Sunday. Imports of American goods were off 2.8% at $11 billion, giving China a surplus with the United States of $24.6 billion.
Exports to some other countries including France rose, helping to offset the loss.
China’s global exports were off 1.1% from a year earlier at $221.7 billion despite weakening worldwide demand. Imports were up 0.3% at $183 billion, giving China a global surplus of $38.7 billion. …
(Excerpt) Read more at apnews.com ...
#OkApePee
China is our #3 trade partner. Right after Canada and Mexico. I sat get the NAFTA agreement replaced.
“The AP sure loves Red China.”
Yes and they hate Trump even more. With our economy we hold the cards. MSM is squirming like worms on a hook.
Those tariffs must be having some effect.
Opening up to China was not a mistake. Geopolitical considerations at the time. The problem is the political class that took care of themselves before considering the interests of the people. Loral is the best example.
US money have helped with chinese world expansionist goals for far too long.
Opening China sure helped multi-national corporations like Apple, to make higher profits and export US Manufacturing jobs which are the backbone of middle class jobs. Not to mention manufacturing is #1 contributor to creating national wealth.
Inviting China to join WTO was as boneheaded decision as getting involved in a guerrilla war 8600 miles away. May be dismantling Saddam was arguably even worse because it costs US taxpayers $8 Trillion in middle-east wars and thousands of our soldiers killed/maimed. And the middle-east is far worse for national security today compared to when Saddam was in power.
“Those tariffs must be having some effect.”
Oh yes. Quite simply, they can force the outcome.
On December 15th, if the next round of tariffs are imposed as scheduled, 2020 should be significantly worse for the ChiComs than 2019. 2019 was their worst year in over 50, and they have been flat out lying with their statistics (as they always do).
The next round drops 15% tariffs on consumer electronics (laptops, cellphones, cameras, toys) - in between a stern warning shot, and enough to force everyone out. Like the previous tariffs, these will likely rise to 25% or 30% in another quarter or two, which will force almost everyone out.
So the threat (business expectation) is very credible - by now conventional wisdom. Businesses have to relocate out of China, if they want to sell in the USA.
More than the earlier rounds, this next one carries a greater secondary effect in China, because there is a big Chinese supply chain behind the companies that produce those products, and they will go down with them. Also, that industry is concentrated around ShenZhen in GuangDong Province, so that area will likely suffer quick drops in employment and occupancy rates.
Businesses from the last round of tariffs are still in the process of getting out, so that effect will be continuing as well.
We could see some wheels come off the Chinese economy and financial system in 2020. If this next round drops on 15 December, the die will be cast in earnest.
Get your popcorn ready to watch!
Tariffs doing their work.
Big new batch looming for 15 December...
I was an Air Force acquisitions office when Clinton/Loral were making those deals and could not believe what was literally being given away. I had no part in the decisions but most of us in my group thought it was crazy.
Lol.
According to some freepers, PRC has already been in unrest for months due to protein shortage.
Will those who worked at Schwinn bike in Chicago see return to work after they close their Chinese factory ?
That’ll be up to Chicago. Given their streak of leftist leadership, it’d be a long shot.
You need to keep up. Trump is de-coupling us from China. He doesn’t give a ratz azz about a new trade agreement with the Chi-coms. They are our enemy not our trading partner. Right now China is in the process of bleeding out. Its long past time to cut China loose and let them and their nefarious plans twist in the wind.
Trump has been stringing Xi along for the last couple of years. They are only just now starting to figure it out. Trump is doing to China what Reagan did to Russia and thank God for it.
“when Clinton/Loral were making those deals... what was literally being given away... most of us in my group thought it was crazy.”
Rational.
Treasonous, but rational - in return for hundreds of millions of dollars.
Now that technology is incorporated into city buster ICBMs, pointed at American cities.
Awesome. HalleluYah!
Yeah. And I fought the “law” and the law won. Still fighting though.
“Trump is doing to China what Reagan did to Russia and thank God for it.”
How right you are!
But as others have said, we also need to get on the stick with the trade agreement between the USA, MX and Canada. I can’t imagine a single thing any of us need that cannot be produced on our OWN Continent! (I’ve said this for decades, now!)
But, you know, the Dems are too busy trying to IMPEACH our President over NOTHING and can’t be bothered to assist our two greatest trading partners right in our own back yard!
*Rolleyes*
I’ll be curious to see what the final draft of the USMCA looks like. I want those crappy Mexican trucks back across the border. They don’t need to be driving on our highways going back and forth through the US to Canada hauling freight our truckers used to haul and putting wear and tear on our roads.
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