Posted on 08/07/2019 10:31:24 AM PDT by semimojo
“You’re creating a disruption, but all you’re really doing is potentially weakening the Chinese economy,” Blitz said. “But to what effect? It’s a good question.”
This has really been my question all along. If we want to bring manufacturing back and lower the trade deficit tariffs aren't working, yet.
If all we want to do is hurt China, they are, but it's at a real cost to the US and world's economy.
What does winning mean?
Hey, Blitzed, victory will be more jobs returning to U.S. shores. Unless that happens, the trade war is meaningless.
That is a question for the President, of course.
But in my view, victory means manufacturing/mining/production is done on USA real estate; employing AMERICAN workers at decent, market-generated wages.
Victory means that we produce what we consume.
Victory will manifest itself in a large and thriving middle class.
Unleash freedom - real freedom - on the people and the ‘invisible hand’ will take care of the rest.
What does winning mean?
I am baffled by this comment. We are not hurting China’s economy or even attempting too. China is responsible for hurting their economy. They can reach a fair trade agreement tomorrow and all the tariffs would disappear. The US trade negotiators are not even asking anything unreasonable. Why isn’t the media asking why China is being so stupid out of pride.
And so far the effect has been to move them from China to Vietnam, India, Bangladesh, etc.
We win. They lose.
‘victory is We win, they lose!............
If you have to ask then you are a Free Traitor™.
Simple. $0 trade deficit with the world. Anything else is unacceptable
Question.....
“If you want to be successful, you have to be strategic,” Steven Blitz, chief U.S. economist at TS Lombard. “Be very clear what the point is, how you want to get it, what is the victory.
Answer...
“The president has said numerous times his ultimate goal with respect to the world trading system is zero tariffs, zero non-tariff trading barriers and zero subsidies,” said Kudlow, director of the National Economic Council.
I’m not sure you can get much clearer or more direct in answering Blitz’s comment/question.
Ross hits the Chinese for subsidizing their cabinet manufacturing, which makes it almost impossible for US companies to compete against.
“Today’s determination gives the American kitchen cabinet industry the hope it needs in our fight against China’s unfair trade practices,” Stephen Wellborn, director of product and research development at U.S. manufacturer Wellborn Cabinet and a member of the American alliance, said in an emailed statement. (more)
So, I guess at the end of the day, the Presidents goal is for everyone to compete and trade fairly, or don’t compete and trade at all. I think that’s a pretty simple goal. Unfortunate that the globalists of Wall St and Congress don’t see it that way, given their allegiance to China.
I understand the attraction of the sentiment but that hasn't been the direction of the world for 50 years.
Better get to work weakening the dollar.
I am no financial guru but understand what the President is doing. Poor trading policies for years have allowed other countries to rip off the USA for many years. The President is establishing some balance, some sanity to our national trade. What is so hard to understand?
That's Kudlow's take but we've also heard return manufacturing jobs, eliminate the trade deficit, force China to restructure their economy, etc.
That's the problem, every day there's a new goal so how do you know if you've arrived.
As an aside, if we really want to eliminate tariffs we should sign on to TPP which had huge reductions in tariffs for the members.
Why the hate filled media writes this crap nonstop.
I can tell what defeat is, because it’s been ongoing for years. China has been fighting a trade war without response from us. They sign agreements and break them.
We can fight back or continue our ongoing surrender.
The pre-amble of the Tariff Act of 1789 says it all:
An Act for laying a Duty on Goods, Wares, and Merchandises imported into the United States.
Sec. 1. Whereas it is necessary for the support of government, for the discharge of the debts of the United States, and the encouragement and protection of manufactures, that duties be laid on goods, wares and merchandises imported:
But since we've started these tariffs our trade deficits have increased and the jobs aren't coming back to the US.
So would you say they're working?
Now, but if we continue down this road and make tariffs uniform, we will repatriate all industry back here. We have to go slow because of globalist traitors. See, we cant hang Tories like we did in the 18th century.
What about our gargantuan public debt? $23.5 trillion and going parabolic as we speak.
Foreign countries recycle those trade surplus dollars into US Treasuries, collect interest and repeat the process.
With interest rates this low for this long, including bank savings rates, would-be savers are forced to look to riskier assets in search for yield.
Where would the money come from to finance our out-of-control spending? The Fed? Other Central Banks?
Point being zero trade deficits with the entire world can only work if our own fiscal house is in order and interest on savings accounts was high enough to make it worth it to save. And if maintaining reserve currency status was not absolutely essential like it is now.
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