Posted on 04/05/2018 4:09:49 PM PDT by SpeedyInTexas
President Donald Trump on Thursday said he has instructed the United States Trade Representative to consider $100 billion in additional tariffs against China.
"In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a statement.
(Excerpt) Read more at cnbc.com ...
LOL
Winner, winner, chicken dinner! Bingo fellow freeper.
That’s my take too. In fact the American people could do this on our own if we’d all just spend a few extra bucks on items that are made here. The jobs that would return would improve the economy, raise wages, and we’d be fine.
We could easily be self sufficient in manufacturing too.
hahah. lmao
Should have invested it in one of them there globalist companies.
Enda Curran Chief Asia Economics Correspondent:
“It’s worth remembering we are witnessing something much broader than a classic trade dispute. This is also about the U.S. challenging China’s future economic model and its ambitions to become a global leader in tech and other sophisticated goods.
Donald Trump accuses China of stealing U.S. know how to achieve its ambitions, which is why the negotiations could prove a lot more complex than agreeing to buy more beef and pork.”
Good idea.
$130,369,000,000 last year.
According to this website:
https://www.census.gov/foreign-trade/balance/c5700.html
If I recall, many of China’s farms still rely on four-legged beasts for plowing etc. Contrast with our farmers. Their entire economy is woefully uneven in terms of development, whereas ours is pretty well homogenized, chips everywhere from desktops down to tractors. They’ve got third world standards in many aspects of their lived.
“China is concerned about international trade rules. Lets all have a BIG laugh.”
You got me to spit out my drink with that one - it is funny. Thanks.
OBTW, a 25% tariff on $100 billion, is enough to fully fund the border wall in one year.
There are some benefits to a trade war with China, that make it almost to good to pass up.
“the impact of China dumping US treasuries.”
China only holds around 5-10% of the Treasuries outstanding (a bit over a trillion dollars) - far less than the Fed bought during their quantitative easing. The bottom line for us is that the Fed could buy any excess that the Chinese dump, keeping any serious interest rate disruption in check, and short-lived.
The Chinese however, need dollars to clear shipments at their ports, including oil and gas, on which they are heavily dependent. They can ill afford to not have large dollar accounts.
They have been drawing down their treasury account somewhat, because they needed the money to prop up their stock markets and currency. If they tried to sell a bunch at once though, they would be driving down prices as they were selling, getting paid less for each bond they dumped into their hole.
It would hurt them worse than us. Probably much worse.
“Great Depression 2.0, anyone? Tariffs started the first one in the 20s.”
Not really - that was the narrative that the Left used to blame the Depression on the actions of the Republican Hoover Administration. That smear really stuck, like their smear of Joe McCarthy (who was right about communist infiltration during the Roosevelt Administration).
Imports/exports were only about 5% of the economy, and the tariffs weren’t even passed until after the stock market had crashed, the financial system (banks) collapsed, and mass bankruptcies occurred shutting down businesses and laying off workers (the real cause).
Roosevelt’s socialist policies were a much bigger drag on the economy, and extended the depression much longer going forward, than any effect from the Smoot-Hawley tariffs.
“This is a game China will lose. Only 15% of our GDP is export based and their GDP is substantially export based more than half to the US.”
If you remove the surplus that China runs with the USA, they run a net deficit with the rest of the world. The must import huge amounts of fuel and raw materials.
according to Bloomberg who doesn’t allow material on FR, they are graphing the China imports from us at just below $140B for 2017. With $3B then $50B, there aren’t enough imports for China to come back and match the $100B Trump is ‘considering’ under Sec 301.
But one Singapore analyst puts forth that Trump is likely positioning for the WTO negotiations, and fighting to protect America’s intellectual property, which also includes ag. Practically every manufactured product has a second and third run under a knockoff name and heavily subsidized profit - for China. And, if you’ve read about that rice seed thief (and two years ago the corn seed thief) they’re not stealing seeds so they can keep buying rice and corn and soybeans from us.
As for the farmers, even if China refused the entire export of $14B in soybeans, let’s get real - it’s still less than a Cat 3 hurricane costs us. We’ll manage just fine. But China won’t. And that’s exactly how we want to sit down at the table.
Trump dosn’t even need a poker face - he’s telling China his hand beats theirs and it’s really a matter of how much they are willing to lose by raising the ante on a losing hand...
He is making a lot of rural red states very angry.
Not a great move before midterms.
I’m stunned. OMG, TRUMP HAS BALLS.>>>>>>>>>>>>>>
Time to celebrate!
Also , it is plainly clear that PDJT is an excellent poker player.
If I was on the other side I would be folding and cashing in my chips.
The Red Chinese have been stealing our intellectual property for years, and paying idiots like Bill Clinton for our secrets ( Remember the assassination of Sec. Brown who was about to squeal on Bill Clinton, he had ended security reviews for US military related technology, and moved the export of such tech from State Department to Commerce Dept, and the Chinese sucked all they could.......... https://hennessysview.com/2016/10/02/killing-ron-brown/)
Now President Trump is ending the cycle of pay for play by confronting Red China directly. Militarily sensitive technology will no longer be for sale or for theft to the Red Chinese.
Now watch PDJT deal with Rocket Man. I have a feeling that Rocket Man’s dark gulag kingdom regime soon will be at an end. Pyong Yang is going to be more like Shanghai very soon.
One more Norkie rocket over Japan and there will be a vast glowing slag hole at Yongbyon. Count on it.
Hey, this may be a winning policy for the President since Cornhusker Sasse predicts it will result in disaster.
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