Posted on 04/05/2018 6:41:57 AM PDT by reaganaut1
In the escalating economic showdown between the United States and China, President Trump is trying to put American shoppers first. The administration did not place tariffs on necessities like shoes and clothes, and mostly spared smartphones from the 25 percent levy on Chinese goods announced this week.
But by shielding consumers, Mr. Trump has put American manufacturers — a group he has championed — in the cross hairs of a potential global trade war. If the measures stand, along with China’s retaliatory tariffs, they could snuff out a manufacturing recovery just beginning to gain steam.
“If you want to spare the consumer so you don’t get this massive backlash against your tariffs, then there goes manufacturing, because that’s what’s left,” said Monica de Bolle, an economist at the Peterson Institute for International Economics. “The irony is, you cannot spare manufacturing from anything because manufacturing is globally integrated. The sector sources its parts and components from all over the world.”
That intricate supply chain often runs directly between the two countries, sometimes in both directions. Chinese factories make wing panels and doors for Boeing’s Next Generation 737 planes, which are assembled by union workers in Renton, Wash. General Motors makes its Buick Envision, a sport-utility vehicle, in Shandong Province, and sells it to American consumers. Construction workers in Denver use building materials manufactured in China, made in part from ethane gas produced in Texas.
A central aim of Mr. Trump’s America First agenda is to bring back pieces of the supply chain lying outside the country. The tariffs announced this week are just a bargaining point in a broader negotiation between the United States and China over trade.
(Excerpt) Read more at nytimes.com ...
He is standing up to the Chinese. No one else dared. The NYT is hoping it goes down badly for the USA. As usual, liberals take the wrong side.
You may be behind the times a bit.
Threaten manufacturing? Without a doubt.
Increase climate change? Most certainly.
Cause extinction of the throated warbler? Undoubtedly.
Women and minorities most affected? Naturally.
Dumb-assed journalist following his progressive checklist? Obviosly.
It’s the NYT.
The BBC keeps attacking Trump and saying the world will end in the US if he doesn’t stop ,YAWN , just their scare crap again
Funny how ‘progressives’ don’t want change. Getting ripped off, oh just keep paying the bill.
Have you seen any study suggesting that a trade war will help U.S. exporters?
Why is the NYT whining about our efforts to stop China’s unfair trade practices?
Oh, ya, ....because the NYT hates America.
Perfect summary.
Total BS. Nice to know you buy off on NYT anti MAGA propaganda.
Who cares? We ant to help domestic manufacturers. Our biggest exports to China are scrap metal/recycled materials, empty containers and T- bills.
This NY Slimes outfit are real characters. Their motto is China and everyone but US first!!!!
Good God, I'm surprised the NYT would acknowledge that! And lookee there, they referred to him as "President Trump", instead of just "Trump".
We’ve been in a trade war since Nixon opened China. They’ve won. We’re not looking to increase exports to China, we need domestic supply of strategic materials and equipment.
If a shooting war were to break out, where will you get clothing? Shoes? Where will we acquire machine tools, many of which companies are now owned by Chinese entities.
(If the trade war will help American exporters, why is the stock market, which has many multinational corporations, been falling in response to tariffs?)
Because the stock market estimates profitability for the next quarter. A trade war will reduce business activity for both parties. However, the status quo is intolerable to the US as the one-sided Chinese tariffs and in-your-face stealing of intellectual property is allowing the Chinese to begger us. So while the short-term joining of the trade war already in progress against us may hurt next quarter revenues, China has much more to lose than us (they run a huge surplus with us), and will have to come to a deal that makes it better for us over the long term.
Actually, anyone who works in an industry that relies heavily on exports cares.
Something like 60% of the pork produced in this country is exported to China, for example. I'm sure you can find it in your heart to forgive the people in that industry if they aren't too happy with the 25% tariff China just imposed on U.S. pork.
Trading ag products for finished durable goods is losing proposition in the long run.
Tell that to the pork producers — along with the voters in all those states between Chicago and the Rocky Mountains.
We fought a Revolution against mercantilism. You should try reading a history book.
There are about 7.6 billion people in this world. Only about 4% of them live here in the U.S.
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