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Trump threatens tariffs on all $500 bil of Chinese imports

47 Comments
By Lisa Lambert

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500 billion that's a lot, is he sure this is the way to go? Might be better to actually produce these products....jobs for Americans or those horrid immeergrents. The argument seems backwards.

5 ( +5 / -0 )

Now I’m not the smartest guy in terms of economics and tariffs...buuuuuuut, oh let’s say CHYNUH decides to avert this proposed tariff thingy by moving their goods to India or some other developing country that’s not on the list of tariff imposed countries and rebrands all their goods MADE IN INDIA or something and exports them into the US and only has to pay a small percentage to the country they have set up shop in?? :-/

4 ( +5 / -1 )

"But ZTE is ok because the Chinese gave my sons that nice $500 million loan for a development project in Indonesia,"

15 ( +15 / -0 )

When asked about the stock market possibly falling if the United States imposes duties on such a large amount of goods, Trump told CNBC: "If it does, it does. Look, I’m not doing this for politics."

His comments worried investors already grappling with the impact of a strengthening U.S. dollar on corporate results, and key stock indexes on Wall Street dropped at the open on Friday.

The U.S. dollar fell against major currencies on Friday on Trumps threat to impose more import tariffs and his repetition of complaints about rising interest rates and the strength of the U.S. dollar.

He is doing it to destroy the USA in a trade war. As his tariffs will cause all of the countries he put tariffs on hit back with their tariffs. Everyone else have trade agrements they agree on and the USA will be an outsider and have high tariffs on its exports.

Trump reiterated criticism of the Federal Reserve's planned interest-rate hikes, posting on Twitter that the tightening policy would diminish any U.S. trade advantage and exacerbate losses from "BAD trade deals."

Starting a trade war against the rest of the world is a very bad trade deal for the USA.

8 ( +9 / -1 )

As his tariffs will cause all of the countries he put tariffs on hit back with their tariffs.

But, his Financial Advisor told him that no country would dare retaliate with tariffs of their own. His financial advisor can't have been wrong, could he? After all, Jerrod Kushner chose the guy based on having written a book they found on Amazon with a title they liked. Those are valid qualifications for the financial advisor to the president overseeing the largest economy in the world, right?

...right?

13 ( +13 / -0 )

Ah, Trump. Destroying his own nation for spite. And yet he still says he's not starting a trade war.

12 ( +13 / -1 )

Hold the line!

-18 ( +0 / -18 )

Hold the line!

That's the spirit.

And when things go wrong, don't forget to blame someone else.

18 ( +18 / -0 )

And China halts all imports from the US and nationalizes those US companies (which are really Chinese) and see how much longer this will go on. My guess, Trump loses.

10 ( +11 / -1 )

Tarrifs on 500 billion worth of Chinese good. This would be quite interesting. I wonder how it would turn out.

4 ( +4 / -0 )

Hold the line!

oh but Chinas flanking maneuver is when they start targeting US manufacturers in China, US auto sales alone are over 4 million units sold, with GM selling more vehicles in China than the US, if China target American companies Japanese and German makers are the ones who'll gain the most from it. and where not even taking about all the other type of American factories in China. American companies growth outlook will implode when that flanking maneuver is realized.

7 ( +7 / -0 )

Meanwhile the rest of the world is negotiating free trade agreements among themselves which exclude the US. And Trump despite his promises hasn’t delivered a single one.

I don’t disagree with challenging China’s trade practices, but Trump’s overall approach of declaring a trade war against the rest of the world all at once is just stupid. It makes it easier for them to tough out US action by shifting trade to each other, makes it harder on the US economy since it is the sole recipient of everyone’s counter tariffs, and in the long term will leave the US at a competitive disadvantage since it is being shut out of the trade agreements being negotiated.

4 ( +6 / -2 )

$500 billion that's a lot of Chinese jobs, the big question is who blinks first

0 ( +0 / -0 )

$500 billion that's a lot of Chinese jobs, the big question is who blinks first

And much higher prices for American consumers. This is looking like a classic economic lose-lose situation.

6 ( +6 / -0 )

Unlike Trump, Xi doesn't need to worry about re-election.

That lets one not blink for a lot longer.

7 ( +7 / -0 )

I sure hope nobody takes financial advice from articles like this!

USD was on track to post its largest one-day loss in three weeks.

So what. That's nothing and means absolutely nothing unless you are a gambling FX day trader.

Against the yen, the dollar was on pace for its worst daily fall in two months.

But May 24th had a larger drop, by only slightly over dollar, which is nothing.

So what is the Trump panic today? Was the traitor line getting old already? MAGA!

-10 ( +0 / -10 )

I do finance for a living, My group handles insane amounts of investments from many private and government organization. I love watching the comments by Trump haters. You serious must be poor. Trump is a dream come true for anyone serious about making money! From very bottom to top, he is your guy if you like money more than ideologies!

-10 ( +0 / -10 )

Trump is a dream come true for anyone serious about making money

Surely a trade war will affect the less well-off. The kind of people who don’t have money to invest.

You know, the people Trump pledged to help.

Sounds like you are repeating the criticisms of Trump after he loaded his staff with billionaires and Goldman Sachs types.

5 ( +5 / -0 )

let’s say CHYNUH decides to avert this proposed tariff thingy by moving their goods to India or some other developing country that’s not on the list of tariff imposed countries and rebrands all their goods MADE IN INDIA or something

They already do this. Chinese garlic had an 800% tariff going into the "free market" USA. It was marked Made in Mexico, Korea whatever, and transshipped. Clothes are even worse. The US didn't have a tariff, but a quota that put strict limits on Chinese clothing imports. Again. they would just be shipped through a 3rd country, like Vietnam.

For a so-called free market economy, the US sure had a lot of market barriers aimed at China.

-4 ( +0 / -4 )

Meanwhile the rest of the world is negotiating free trade agreements among themselves which exclude the US. And Trump despite his promises hasn’t delivered a single one.

That will only last so long.

I don’t disagree with challenging China’s trade practices, but Trump’s overall approach of declaring a trade war against the rest of the world all at once is just stupid.

Actually, it’s given the unfair trading practices we have been dealing with for years and years.

It makes it easier for them to tough out US action by shifting trade to each other, makes it harder on the US economy since it is the sole recipient of everyone’s counter tariffs, and in the long term will leave the US at a competitive disadvantage since it is being shut out of the trade agreements being negotiated.

And when the US sneezes, everyone catches a cold.

https://voxeu.org/article/understanding-global-role-us-economy

Because of its size and interconnectedness, developments in the US economy are bound to have important effects around the world. The US has the world’s single largest economy, accounting for almost a quarter of global GDP (at market exchange rates), one-fifth of global FDI, and more than a third of stock market capitalisation. It is the most important export destination for one-fifth of countries around the world. The US dollar is the most widely used currency in global trade and financial transactions, and changes in US monetary policy and investor sentiment play a major role in driving global financing conditions (World Bank 2016).

We need the world, but the world won’t go anywhere or do squat without the US and investors know this. So the little people can dance and say, let’s stick it to the US, but the bottom line if you’re an investor, you’re gnawing on your knuckles.

-7 ( +0 / -7 )

Go for it President Trump, slap on those 500 billion tariffs. If this is what it takes to achieve fair trade, so be it.

-6 ( +1 / -7 )

If this is what it takes to achieve fair trade, so be it.

That's right. The USA has been stealing from the rest of the world too long, and has resulted in the largest pool of money being in the USA. We need to all re-write our trade agreements to bypass the US, so that the money that flows out of the US does not flow back in. They have been stealing from the rest of the world for too long. It's time to redistribute their income to the rest of the world. We are at a trade war with the USA.

4 ( +4 / -0 )

That's right. The USA has been stealing from the rest of the world too long, and has resulted in the largest pool of money being in the USA.

Since we take care of the world, I would more or less consider it fair.

We need to all re-write our trade agreements to bypass the US, so that the money that flows out of the US does not flow back in.

Good luck with that. I wish some of these leaders would have the cahones to do that and shoot themselves in the foot, really.

They have been stealing from the rest of the world for too long. It's time to redistribute their income to the rest of the world. We are at a trade war with the USA.

Redistribute, now that sounds like a warm and fuzzy socialists dream.

-5 ( +0 / -5 )

I do finance for a living, My group handles insane amounts of investments from many private and government organization. I love watching the comments by Trump haters. You serious must be poor.

Hey everybody, finance bro thinks you are just criticizing Trump because you are poor, while finance bro loves Trump because he and those like him are making so much money. While everyone else gets poor.

I am sure he has convinced all of us of the merits of Trump policies with this insightful observation, so no need for further discussion.

7 ( +7 / -0 )

It’s unrealistic to think Trump will put tariffs on his own products from China, so I can’t see him going all the way.

6 ( +6 / -0 )

I fully support Trump imposing tariffs. Let him make it more expensive to trade with the US. The rest of the world... we'll continue trading with each other without these artificial tariffs. Pure capitalist supply and demand. As trading with the US becomes more expensive, we trade elsewhere. Everyone wins (except Trump's US). Market forces at work.

1 ( +1 / -0 )

Stealing? Look whose stealing! Annual 800 billion trade deficit with surpluses for other countries.

-5 ( +0 / -5 )

bass4funkJuly 21 09:36 pm JST

Since we take care of the world...

The US can stop any time it likes as far as I'm concerned. But then how would that multi-billion dollar defence industry justify its existence? You needn't go on pretending this "world policeman" schtick is really for the rest of the world's benefit, or even the US's benefit.

1 ( +1 / -0 )

Wow. 4 downvotes for stating facts. Some folks just hate to learn anything.

-2 ( +1 / -3 )

Stealing? Look whose stealing! Annual 800 billion trade deficit with surpluses for other countries.

So what? That's entirely irrelevant to the fact that the tally for who is doing best at trade is the economy of that country. America has the biggest economy in the world, and therefore has been winning at the expense of the rest of us for too long.

You didn't believe the lies your elite is telling you that the trade deficit can somehow be used as a gauges of the success/failure of the economy, did you? That would just be silly. How could you think that it would be anything other than the size of the economy?

2 ( +2 / -0 )

Some know zero about past trade history and how America lost much of it's industry thru targeted dumping and trade barrier protectionism. I would like to here from some one that has been involved in trade as I have for many years.

-3 ( +1 / -4 )

CHYNUH decides to avert this proposed tariff thingy by moving their goods to India or some other developing country that’s not on the list of tariff imposed countries and rebrands all their goods MADE IN INDIA or something and exports them into the US and only has to pay a small percentage to the country they have set up shop in?? :-/

I know China did this with drywall. China had the drywall shipped to Mexico to relabel it Made in Mexico, until they got busted for it. Maybe the US found out as part of the investigation after one drywall company had put toxic chemicals in it, shipped it (no they don't seem to give a sh*t), and sold it. The builders didn't find out until after it was installed in homes and businesses and was making people sick.

Blame the politicians for letting the corps runaway to slave labor/corrupt China.

Tarrif away Donny! Let the chips fall where they may.

-3 ( +0 / -3 )

The US can stop any time it likes as far as I'm concerned. But then how would that multi-billion dollar defence industry justify its existence? You needn't go on pretending this "world policeman" schtick is really for the rest of the world's benefit, or even the US's benefit.

At the same time, the world leaders shouldn’t call the US when something goes down, use those Typhoons, they’re getting a little dusty.

-1 ( +0 / -1 )

Ivanka Trump on White House's 'Pledge to America's Workers'

https://www.youtube.com/watch?v=Zhdo3UGHk2o

-3 ( +0 / -3 )

Some know zero about past trade history and how America lost much of it's industry thru targeted dumping and trade barrier protectionism.

And some are clueless as to realize that doing so led to America having a stronger economy than any other country in the world. Some have believed the lies their elite tell them, that other countries are at fault, so that they don't realize that America has plenty of money coming in, but it's only going to a tiny, tiny group of people. Some people have been duped into mistakenly attributing enmity to the wrong party.

1 ( +1 / -0 )

I do finance for a living, My group handles insane amounts of investments from many private and government organization. I love watching the comments by Trump haters. You serious must be poor. Trump is a dream come true for anyone serious about making money! From very bottom to top, he is your guy if you like money more than ideologies!

I 'love watching' Americans being divided on this forum. Here's a poster who likes to discriminate himself of his non-trumpist compatriots by telling them that they 'serious must be poor'.

With suggesting that Trump 'is your guy if you like money more than ideologies' from 'very bottom to top' the poster certainly lost track as Trumps measurements only benefit the affluent top of the society.

With the first lay offs at the bottom coming up sooner or later I'm looking forward for this 'trader's' next suggestion :)

-1 ( +1 / -2 )

Ivanka Trump on White House's 'Pledge to America's Workers'

https://www.youtube.com/watch?v=Zhdo3UGHk2o

Pretty 'inclusive' story by this inner-circle advisor who inherited not only the beauty but also the brains of her European mother.

And yes American workers in the middle and at the bottom need more training as the lack of skills and education is huge. Wait and see how Corporate America and smaller businesses will pick this up as just committing to this pledge is not enough.

-1 ( +1 / -2 )

500 Billion- not only will China blink, China will fold, with large numbers of factories closing and millions of unemployed.

When it comes to trade, what one calls lies- in all reality is another ones true facts.

Trumps measurements benefit millions of Americans, factories opening, high employment. Facts are facts.

40 or more years of trade history. One should do their on research to gain knowledge that is lacking.

Over the years with imports from the US, Australia, New Zealand, Taiwan, South Korea and China I gained knowledge of trade restrictive trade barriers that drive up the cost of imported goods.

There are those that need to gain some experience in trade to know what fair trade is all about.

-4 ( +0 / -4 )

and China

I can find cheap stuff from China in Japan all the time. Basically the same price anywhere, including the USA. What's the problem?

0 ( +1 / -1 )

If China targets American companies in China and factories close, then China will lose with more unemployment.

I never pay attention to down votes. Trump haters will down vote anything pertaining to Trump, good or bad.

-3 ( +0 / -3 )

Over the years with imports from the US, Australia, New Zealand, Taiwan, South Korea and China I gained knowledge of trade restrictive trade barriers that drive up the cost of imported goods.

What side country are you on? China?

China will lose with more unemployment.

That means that China will gain employment.

0 ( +1 / -1 )

The other way around, if American factories in China close- there will be less employment.

-2 ( +0 / -2 )

American factories in China close- there will be less employment.

Like what American products, for example?

0 ( +1 / -1 )

500 Billion- not only will China blink, China will fold, with large numbers of factories closing and millions of unemployed. 

With export representing already less than 20% of the Chinese GDP closing down manufacturings sites may cause unemployment but there's no possibility for foreign producers of hi end products like Foxconn who manufacture for Apple, Dell etc. to move the the production lines like with low tech production lines as textiles.

There's no manufacturing grid in the US, no skilled and educated workforce to do the job and it will years to realise that. Most important that an American worker will never do the job for a Chinese salary so only fully automation might be a future 'solution' which means jobs for a few high educated to keep the joint running but by no means jobs for the average Joe.

*When it comes to trade, what one calls lies- in all reality is another ones true facts**.*

True as a cow :)

Trumps measurements benefit millions of Americans, factories opening, high employment. Facts are facts. 

The US economy was already growing during the Obama administration who faced a mess left by the Republicans and a global financial crisis in 2008.

The US and world economy recovered thanks to some good decisions and the Fed.

40 or more years of trade history. One should do their on research to gain knowledge that is lacking.

Over the years with imports from the US, Australia, New Zealand, Taiwan, South Korea and China I gained knowledge of trade restrictive trade barriers that drive up the cost of imported goods.

Respect for you career as a trader after a corporate life..

There are those that need to gain some experience in trade to know what fair trade is all about.

True when your work as a trader in a specific market but there's more to say about free trade and the role of the US since WW2 and how Corporate America profited at the expense of others.

0 ( +1 / -1 )

500 Billion- not only will China blink, China will fold, with large numbers of factories closing and millions of unemployed.

The difference is, Trump needs to worry about being re-elected. He's got an election coming up later this year, and another one in two years. If he holds strong, he will get a bunch of votes from people like you this year. If he keeps holding strong for another two years though, that's a lot of time for a lot of Americans to lose a lot of jobs and start paying a lot more for a lot of things. Two years is enough for people to start to feel that discomfort.

Xi doesn't have this worry. Even if the people lose jobs, they don't have the right to complain, and Xi doesn't have to worry about being re-elected.

Trumps measurements benefit millions of Americans, factories opening, high employment. Facts are facts.

I listened to a podcast with Peter Schiff the other day. He's a well-known libertarian economist, who predicted the market collapse in 2008, and he's predicting another collapse, during Trump's first term. He is saying that the positive market data that started coming out during the Obama administration at the end was false, and that Trump stepped in, made a few more changes for a false economy, then picked up what he says are lies from the Obama administration's time, and now the Trump administration owns this economy - which they're going to pay for when it collapses.

There are those that need to gain some experience in trade to know what fair trade is all about.

Fair trade is when it is fair to both parties. America has been screwing the rest of the world for too many years, resulting in all the profits going to America. We have been practicing unfair trade in America's direction for too long. It's time to show the rest of the world that while America may be bigger than any one of us, collectively we are HUGE compared to America, and we aren't willing to let them win anymore, when they get all ungratful and start whining about fair trade, even though they've been winning all along. It's one thing to let them win when everything is held in balance, it's another when they want more than they've been getting all along, even though they've been winning. If we let them win this time, they will never act reasonable again. So the rest of the world MUST win this trade war. There is no option to lose. Losing dooms us all forever.

We are at a trade war, and we cannot forget that. Redistribute America's wealth to the rest of us.

1 ( +1 / -0 )

So the rest of the world MUST win this trade war. There is no option to lose. Losing dooms us all forever.

Amen.

0 ( +1 / -1 )

The US trade deficit 2017 of 800 billion dollars- is a true fact- proving that wild deterrent statements to the contrary- are not true facts.

-1 ( +0 / -1 )

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