Posted on 11/08/2017 8:34:32 AM PST by cba123
China's trade surplus with the United States slipped from a record high last month, according to official data published Wednesday, but still rose past $300 billion over the first 10 months of the year just as President Donald Trump arrives for a state visit in Beijing.
China's customs office said total exports from the word's second largest economy grew an annual 6.9% last month, slowing from the 8.1% pace recorded in September. Import growth, however, was impressively strong at 17.2%, although again slower than the 18.1% pace notched in the previous month.
The figures also reveal a 37.8% increase in China exports to the United States which, when set against an 11.1% rise in imports translates to a trade surplus of $26.6 billion. That's down from last month's record high of $28 billion but still puts the year-to-date tally at just over $300 billion - more than $12 billion head of last year's pace, according to U.S. Census Bureau data.
(please see article at link, for complete story)
If you buy car parts chances are some were made in PRC.
Right now, I would think, the higher priority is either bringing pressure on North Korea or paving the way to turn their ass into a glowing parking lot, either will take the assent of the Chinese.
I’m as pissed at our taking it up the wazoo from the Chinese as anyone, and have been for years, but priority one right now is to eliminate the chance of an EMP blast or dirty bomb. Turning around the trade deficit is going to take time and China is still bitter about how The West treated her in the Opium wars and is never going to roll over again.
So we simply let China roll us?
WE, become them? The failed, huge country which doesn’t make anything? The country which used to be a manufacturing powerhouse, but now simply imports every single thing we use, from other countries?
Including significantly, a huge trade deficit, with the largest country by population, anywhere?
How in the world, does that improve anything, for us?
That is what we need to pay attention to.
Not them. Us.
Trump needs to pay attention to American production.
No other president for the entire last generation, has done this. Trump hasn’t yet.
I’m just saying. Trump, you are on our side.
Act like it, please.
What exactly was the U.S. producing in those 55,000 factories?
U.S. manufacturing employment peaked in 1979. Are you going to tell me that 1979 was the heyday of the U.S. economy?
What you are describing there is evidence of a complete disconnect between manufacturing employment and industrial output. That’s something you will find in every advanced economy in the world.
I do most of my clothes shopping at fairly high priced women’s stores-———even THEY are 99% imported and the few that are made in the USA have fabric that is imported.
.
Not disagreeing with your sentiment. Just saying that we can probably pressure China on *either* trade or north korea at any one time.
Maybe I’m wrong.
but we’ve been taking it in the shorts for 20 years in trade, and it’s going to take that long just to get back to ‘even’. On the other hand, one EMP nuke from little fat ‘un could do an immense amount of economic damage and cost millions of lives.
You’ve got one person you are having a legal disagreement with; you know you’ll win the lawsuit, but it’s a process that will play out over month or years. You also have an armed crazy person in your front yard waving a gun at your front window and shooting over your house. If you can only deal with one at a time, which do you do?
I mean I desperately want to get our trade back together; but we simply can’t wipe the norks off the map without risking war, no more than the Chinese could deal militarily with Mexico no matter how much the Mexicans were threatening them, without taking the US into consideration.
So no, I’m not saying “let china roll us”, Geeze! let Trump do his job, this trade deficit with China didn’t just happen in the last year or two, it’s not going to be rectified by 2020 or 2024.
Personally, I think we need carful and subtle work to make it much more feasible for stuff to be made here; we’re talking about re-building a good chunk of the largest economy in the world...
I’m gonna trust Trump on this, for at least a few years; if he can’t get this sh!t squared away nobody can.
No, I am saying the country would be so much better off if the USA had not systematically de industrialized. A point you will NEVER understand.
How does “de-industrialization” correlate to record industrial output?
Industrial output would be even HIGHER if the USA did not offshore. You seem to be unable to understand that. If 12M make X then 16M would make X + Y. Y will stimulate even more secondary GDP growth Z. So the (Y + Z) part of the equation is still there, but in China and not in the USA thanks to Free Traitors™
The problem is North Korea. China likes it that way because it keeps the US in check on trade.
They promise to help with NK, but nothing ever happens.
He is for America, but a President is not omnipotent. His attempts to get things done are consistently blocked by the courts, opposition politicians, as well as, establishment politicians in his own party. I suppose you are under the misconception that a President possess the same powers as a dictator.
On top of that there is a special counsel trying his best to find something that can be used to impeach him, and a press that negates the bully pulpit Presidents enjoy at the beginning of their term. Yet he does bypass them and and is able to communicate with the public directly.
Remember it took 2 & 1/2 years for Reagan to have his policies take hold & bear fruit, and he didn't have any where near the resistance President Trump faces.
Prior to permanent most-favored-nation trade status for China. Joy.
Pick any random consumer product you've seen that was made in China. I can guarantee you that no manufacturer would ever consider laying out the capital to build a facility here in the U.S. that produces those things. Financially, it makes no sense to build such a plant unless the manufacturer has a high degree of certainty that one of the following two conditions will be met:
1. Americans will buy -- annually -- the 2 million units of the product that the plant is capable of producing.
2. Americans will buy 500,000 units of the product every year for four times the price of the product that you see on the shelf.
And on top of all that, keep in mind that the manufacturer will never build the plant unless they can maintain those market conditions for the 30-40 years that the plant will be in service.
It simply isn't going to happen without some serious intervention in the marketplace by government -- which adds a whole other side to this story that Americans shouldn't be looking for.
Probably because our economy has gotten better over the past year, so people are buying more stuff including stuff made in China.
We need a fixed long term 20% tariff.
A 20% tariff will do nothing to change the underlying financial constraints I described in Post #36.
I propose reciprocal tariffs with everybody.
what you do unto us, we do unto you.
No ‘most Favored Nation BS. hit our stuff with 100% tariffs or none, whatever the highest tariff a nation puts on any US goods is what we put on ALL of theirs.
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