Trump to Impose Sweeping Steel and Aluminum Tariffs

Discussion in 'Politics and Religion' started by Joe L, Mar 2, 2018.

  1. 82CardsGrad

    82CardsGrad 7 x 70

    Age:
    55
    Posts:
    31,074
    Likes Received:
    2,279
    Joined:
    Dec 31, 2004
    Location:
    Scottsdale
    China's largest import partner is the E.U., followed by South Korea. Japan, Taiwan, the U.S. and Australia... I see no reason why they can't divert more of their attention away from American and toward a host of other nations who can more than adequately step in and replace us...
    Of course, I totally expect Emperor Trump to make some comments about how other nations should refrain from selling to China - "if they know what's good for them!"
     
  2. AZCB34

    AZCB34 Registered User

    Age:
    51
    Posts:
    9,997
    Likes Received:
    1,286
    Joined:
    Sep 23, 2002
    Location:
    Mesa, AZ
    And South America.

    Look for the markets to shed another 400 points at the open tomorrow if the futures are any indication.

    This is what happens when a real estate developer is basically put in charge of our economy. US cannot win a currency war with China.
     
  3. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002
    Futures flipped over night showing up about 250 right now I guess the Yuan stablized. The damage has already been done the last 4-5 days of trading saw fear and panic start to set in and people sold and fled to safety in other areas.

    I imagine today or tomorrow Trump will make some statement, frankly amazed he didn't yesterday, trying to tell us we're very close to a deal with China, trying to pump up the markets yet again.
     
  4. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002
    Best analogy I heard was on CNBC yesterday, and remember Kudlow is a long time CNBC guy and very much against Tariffs so they're not exactly an adversarial network. But the guy on CNBC said Trump has effectively painted himself into a corner, a normal person would admit plan A didn't work and go to plan B which in this case would probably be retreat. Everyone agrees China doesn't "play fairly" but Trumps' approach is not working. Instead trump keeps doubling down with more tariffs, China retaliates and the whole world is now suffering.

    Which as he said is the problem with having such an emotionally immature POTUS, he's making decisions based on wanting to win and be right, instead of what's best for the country and the world. He's dealing with a culture that sort of like Japan has a thing about losing face, as others said yesterday they will take 18 to 24 months of severe pain to inflict mortal wounds on the US and Trump, it's in their DNA to do so.
     
  5. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002
    Trump actually showed some good restraint he has Kudlow on CNBC right now talking. Implied futures for DOW was up 95 when he started, it's up 135 now so nearly a 50% jump in implied open. Kudlow is saying Trump is still very open to negotiations with China. We want a deal, has to be the right deal, but we do want one. We're in good shape, China is not. The Tariffs are hurting them more than us etc.

    It's still blowing smoke up our butts, but it's much more credible from Kudlow than Trump at least as far as the markets are concerned.

    Going to be a roller coaster day IMO.
     
  6. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002
    Kudlow just claimed there's a trillion dollars that's being repatriated that "hasn't been counted correctly yet" and that because of the tax changes, factories are moving back to the US. When asked "who" he couldn't name a single company, the guy from CNBC had to chime in and name a couple of biotechs that were acquired by US companies and said "that's not manufacturing though who are these companies you're talking about?"
     
  7. Rivercard

    Rivercard Too much good stuff

    Posts:
    19,191
    Likes Received:
    2,752
    Joined:
    Jul 2, 2003
    Location:
    Is everything
    In a move that surprises nobody outside of the White house, China has called Trump's bluff by announcing it will suspend all US agricultural imports. Turns out trade wars might not be so easy to win after all, who'd of thunk it.......


    China Deals ‘Body Blow’ to Struggling U.S. Farm Belt

    The U.S. Farm Belt braced for deeper pain from the escalating trade battle between the world’s two biggest economies after China said it would suspend all imports of U.S. agricultural goods.

    China’s move will affect farmers raising fuzzy green soybean pods in Illinois, milking cows in California and feeding hogs in North Carolina, all of whom have seen business suffer as a result of tariffs that Chinese officials implemented last year.

    https://www.wsj.com/articles/china-deals-body-blow-to-struggling-u-s-farm-belt-11565093998
     
  8. DWKB

    DWKB Registered

    Posts:
    14,113
    Likes Received:
    2,247
    Joined:
    May 15, 2002
    Location:
    Annapolis, MD
     
  9. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002

    So his easy to win trade war INCREASED the trade deficit by 37 billion!
     
  10. DWKB

    DWKB Registered

    Posts:
    14,113
    Likes Received:
    2,247
    Joined:
    May 15, 2002
    Location:
    Annapolis, MD


    I’m delaying tariffs because I don’t want to impact American spending.

    Also, Americans aren’t paying for tariffs.
     
  11. Russ Smith

    Russ Smith The Original Whizzinator Contributor

    Age:
    53
    Posts:
    55,740
    Likes Received:
    4,077
    Joined:
    May 14, 2002

    Oh great just what I wanted for Xmas, an IOU from Donald Trump. Basically worthless

    Also another example of his market manipulation that ought to be illegal, the markets were down until he made that statement and now they're way up because he delayed the tariffs.
     
  12. Rivercard

    Rivercard Too much good stuff

    Posts:
    19,191
    Likes Received:
    2,752
    Joined:
    Jul 2, 2003
    Location:
    Is everything
    Yep, blatant manipulation. Spared my business though, for now anyway.
     
    Russ Smith likes this.
  13. Rivercard

    Rivercard Too much good stuff

    Posts:
    19,191
    Likes Received:
    2,752
    Joined:
    Jul 2, 2003
    Location:
    Is everything
    Already reeling retailers will be kicked while they're down. Manufacturers will cut jobs to reduce overhead. We're screwed.........

    --------------------------------------------------------------------------------

    Retailers howl as U.S. trade agency locks in 15% tariffs on September 1

    Source: Reuters

    The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and Dec. 15, prompting hundreds of U.S. retail, footwear, toy and technology companies to warn of price hikes.

    The U.S. Trade Representative's office said in an official notice that collections of a 15% tariff will begin at 12:01 a.m. EDT (0401 GMT) Sunday on a portion of the list covering over $125 billion of targeted goods from China.

    This initial tranche includes smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear.

    U.S. Customs and Border Protection will also start collecting a 15% tariff on Dec. 15 on the remainder of the $300 billion list, including cellphones, laptop computers, toys and clothing, USTR said in the Federal Register filing.

    Read more: https://finance.yahoo.com/news/u-trade-agency-affirms-trumps-142112350.html
     
  14. Kel Varnsen

    Kel Varnsen Moderator Contributor

    Age:
    41
    Posts:
    29,377
    Likes Received:
    9,131
    Joined:
    Jun 28, 2003
    Location:
    Phoenix
    Prices won’t go up. China pays the tariffs. Duh.

    - Y’all Qaeda
     
    Russ Smith likes this.
  15. UncleChris

    UncleChris Retirement Doesn't Suck Contributor

    Age:
    67
    Posts:
    19,175
    Likes Received:
    3,828
    Joined:
    Mar 24, 2003
    Location:
    Prescott, AZ
    Market down 325 as I write this, and Drumpf is warning China that they better come around soon or we'll do even more tariffs.

    Is is just me, or does anyone else see the very real possibility that an armed conflict between us and China (with Russia involved) could actually happen?
     
    Russ Smith likes this.

Share This Page