Trump to impose tariff on steel and aluminium, geaux Trump!

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[NPR] China Says U.S. Has Begun 'Largest Trade War' In History, Retaliates With Tariffs

As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

The new trade regulations imposed by the Trump administration, which levy a 25 percent tariff on $34 billion worth of Chinese imports to the U.S., have "violated [World Trade Organization] rules and launched the largest trade war in economic history to date," China's Ministry of Commerce declared in a statement Friday.

And Chinese authorities quickly retaliated with equivalent tariffs on $34 billion worth of imported U.S. goods — previously promised as ranging from vehicles to soybeans, beef and other agricultural products.

The rapid tit-for-tat follows weeks of anxious anticipation over the "trade remedies"President Trump vowed last month to implement. At the time he announced the tariffs, back in mid-June, Trump said the current U.S.-China economic relationship had grown "no longer sustainable."

"Trade between our nations," he explained, "has been very unfair, for a very long time."

And he has promised that Friday's package of economic penalties will not be the last. On Thursday aboard Air Force One, the president vowed to implement tariffs on an additional $16 billion worth of imported Chinese goods within the month.

China, for its part, has promised at each step of the way to retaliate in kind. "China is forced to strike back to safeguard core national interests and the interests of its people," its commerce ministry declared.

The two countries have engaged increasingly in verbal sparring in recent months, but Friday's pair of haymakers has dramatically escalated the trade dispute — and that has investors across the world worries about what comes next.

"What we can expect is disruption in supply chains. We can expect job losses and a decline in investor and consumer confidence," longtime Beijing-based attorney James Zimmerman tells NPR's Rob Schmitz. "And that's going to impact the stock market. And the impact on U.S. business, in my estimation, will be substantial."

Substantial they may be, but the average U.S. consumer will likely not see these impacts directly for a little while. Mary Lovely, economics professor at Syracuse University, says that roughly 60 percent of U.S.-China trade involves parts and supplies, rather than final goods — so the most immediate effect will be felt by the companies making the products, not the consumers finding them on store shelves.

But eventually those costs will take their toll on the average wallet — and it likely won't be simply because of these tariffs. Jeremy Haft, author of Unmade in China, tells NPR's Noel King that Beijing has a number of arrows in its economic quiver, and that it is "already using these weapons."

"China can make it much more difficult to operate on the mainland," Haft says. "For example, they can quarantine [U.S.] products for a long time. They can make products difficult to clear customs."

He explains that he has already seen the effects in the pork industry.

"Normally, if your papers are in order, the pork proceeds smoothly through customs and into the country," he says. "But what's happened increasingly, is suddenly it became much, much more difficult for pork to clear customs and that becomes very expensive — especially with a perishable product which can spoil in the port if its not kept in the right refrigeration condition."

The White House, however, has cast its volley of tariffs as a long overdue move to rectify a longstanding imbalance in trade between the countries — particularly, as Trump has said, in China's "unfair practices related to the acquisition of American intellectual property and technology."

But China is not the only country to find itself in Washington's crosshairs lately when it comes to trade.

The Trump administration engaged in a similar tit-for-tat last month with the European Union, Mexico and Canada.

In the weeks since the U.S. leveled tariffs on steel and aluminum — which the EU called illegal — Mexico retaliated with levies of 15 percent to 25 percent on U.S. agricultural products; Canada imposed tariffs on nearly $13 billion of U.S. goods; and the EU hit back with its own 25 percent tariff on distinctively American products ranging from bourbon to Harley-Davidson motorcycles.

Just days after the EU retaliation, Harley-Davidson said it plans to move its production of the motorcycles it sells in Europe overseas. The company said in a Securities and Exchange commission filing that the tariffs "would have an immediate and lasting detrimental impact to its business in the region."

 

the idiot advising the idiot on this...

 

Fml, I hope my 'la vaquita'queso doesn't go up too much and i can't stand Californian avocados, too liberal!

 

Oh, hadn't thought about avocados. I hope they jack the price up so much it pisses the millennials off enough to actually go to the polls.

 

They won't turn on Trump.

They will blame the Democrats and foreigners.

No one is going to come out of this looking good and Trump is okay with that because he wins those type of battles.

 

It wasn’t enough that agricultural exports went up under Obama. And you’re right, they’ll blame someone else for their own actions.

 

It is incredibly depressing to know this is true.

 

Yes and I really don't know what the solution is from the perspective of the democrats.

The reality is that the democrats (other than a period under Clinton) have not catered or made the flyover states a priority in a long time.

The reality is that a lot of liberals in places like California and the North East look down upon small towns in rural areas. So even when policies that are beneficial to farmers and rural laborers are championed by democrats, they are not going to get many of their votes.

The Republicans have largely ignored the flyover states since Reagan, but they have not as a party attempted to alienate them culturally or publicly and that is enough. Now Trump has actually attempted to appeal to them, with the belief that the rest of his constituents will just support him as his policies are more inline with their's than the democrats.

Blaming immigrants, short sighted tax cuts and listening to the concerns of rural America is more than enough. They will take the chance of going down in flames over the democrats that seem to be more concerned about brown people, cities and the sexual orientation of someone than what the rural states view as "the heartland" of America....... whatever the hell that means in 2018.

 

Not so fast my friend:

https://www.google.com/search?q=iowa+backlash+trump+tarriffs&ie=utf-8&oe=utf-8&client=firefox-b-1

Curious to see how this plays out.

 

First a guy gets Hus hat knocked off, then Dershowitz gets shunned by high society, and now...

 

Like I've been saying, when you have such a massive trade deficit, it's impossible to lose a trade war.

https://www.cbsnews.com/news/china-...ident-trump-already-winning-the-tariff-fight/

"China appears more vulnerable, with Societe Generale economists estimating that the Chinese economy could lose 1 percentage point of GDP growth and upwards of four million jobs while the U.S. would suffer a modest 0.2 percentage point drag on GDP growth."

They stand to suffer quite a bit more than we will. President Trump knows what he's doing.

 

Or it could be that they are worried that some foreign government may want to silence him to prevent him from talking. I know it is far fetched to think a foreign government would try and assassinate someone on foreign soil. But hey there is a first for everything.

 

Nobody wins a trade war. Losing less than the other party isn't the same as winning. And so much of this is not fighting China, but all countries even those we have pretty even trade with.

 

More of your idiotic drivel I see.

Let me help you with the only part that is relevant.

No one gives a **** that we would not suffer as much as China would. The point is everybody loses.

 

There is some truth to that but I wouldn't say Trump will win this one. Here in flyover corn, soy and dairy heartland there is a lot of angst about what Trump is doing. There are many who say they support Trump but keep in mind farmers live on pretty narrow margins. Once farm foreclosures start coming in I don't think we'll see a vast number of farmers sticking with Trump.

Speaking of winning battles my own view is this. As someone who opposes Trump two things will happen. Trump backs down and we point out how Trump has caved yet again to the Chinese as he did with ZTE Or he presses on and it cripples our economy especially among his supporters and it undermines his support.

 

Another coincidence, I am sure...

Ivanka Trump's Chinese-made products spared from tariffs

https://www.msn.com/en-us/money/com...oducts-spared-from-tariffs/ar-AAzLWEH?ocid=st

 

trump doubling down on dumb...

 

I am Trade War.



It is difficult for families to reduce their standard of living in order to compete with so much offshore labor, just as it is difficult to reduce their standard of living in order to compete with so much incoming labor.