Trump's tariffs on $300 billion Chinese goods

[reedak]

1. The surprise tariffs President Donald Trump announced Thursday on $300 billion or so of Chinese goods takes the trade dispute between the two countries to a new level, even though in dollar terms it doesn’t amount to a whole lot.

The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate cut only to have their legs cut out from underneath them by news of a heightened trade war....

Source: https://www.cnbc.com/2019/08/01/trump-c ... s-quo.html

2. As the election campaigns heat up, Donald Trump is obviously running out of time to wait for China to accede to his demands. His latest tariff move against China is the clearest sign of desperation in his bid to remain another term in office. Using an analogy in my previous post, a psycho is getting increasing impatient after waiting a long time for the local anesthetic to take effect on his victim in the torture chamber.

Without testing for numbness of his victim's gum tissue, the psycho is dragging his victim all the way to the dental chair to extract all his remaining teeth.

3. At first China seemed to be unsure how to deal with the failed business-turned mercurial president. As time goes on, China is becoming more experienced and confident in dealing with Donald Trump after realizing that he is bent on destroying the Chinese economy. China has many ways to hit back at the US such as:

(a) Ban all Chinese tourists to the US.

Spending by Chinese visitors — which doesn't include students — ballooned more than 600% between 2008 and 2016, to nearly $18.9 billion. In 2017, that fell by 1% to $18.8 billion, or about 12% of overall tourism spending.

(b) Ban all Chinese students from studying in "American for-profit education companies" such as the now-defunct Trump University.

Chinese students make up one-third of the total international body in the US and pay significant sums to study at top institutions.

The amount Chinese students and their families contribute to the US economy is estimated to have been $13 billion in 2017-2018, a figure that includes tuition fees and living expenses, according to NAFSA: Association of International Educators.

However, there is growing pressure in the US to place restrictions on foreign students, particularly Chinese, amid tensions between the two countries over a range of issues, most prominently trade.

The US government has been targeting specific groups of students or academics who they feel pose national security risks or are involved in alleged intellectual property theft.

As reported on 8 August 2018 by Politico, at one point during the dinner, Trump noted of an unnamed country that the attendee said was clearly China, “almost every student that comes over to this country is a spy.”

P.S. As the psycho tries to extract all the teeth of his victim in the torture chamber, it is high time for the victim to drag the psycho to the dental chair too.

An eye for an eye and a tooth for a tooth.

https://sg.finance.yahoo.com/news/chine ... 39228.html

https://en.wikipedia.org/wiki/Trump_University

https://www.bbc.com/news/world-asia-48542913

https://www.politico.com/story/2018/08/ ... ina-766609

viewtopic.php?f=5&t=6807

[exploited]

Post in Front Page News from now on.

Make your posts significantly shorter.

[John Galt]

china will manipulate their currency and take the brunt of it. if goods go up, i think it will be more american companies taking advantage to eek higher profit.

in the end, china's abuses need to be addressed. the second largest economy in the world isn't a developing nation. they should be treated as the bad actor they are. i don't agree with trump on tariffs in general because he uses them way too liberally, but on china? f**k em. worst thing that happens short term is cheap shit from china gets more expensive. i mean long term could escalate into actual physical conflict but that's long term and appeasement is not an answer anyway

[Kane]

He's still an idiot and he's still taking the fight to China in an idiotic manner.

PMI numbers are dropping and with the imposition of tariffs on finished goods US consumers might just let those NMI numbers drop. Inflation, even with 3.6% unemployment, is mired at 1.5%. Wage growth, even in this low unemployment environment, is barely above inflation (after adjusted in real terms).

So instead of getting into the TPP we're going to force the world into a recession. Instead of coordinating with the EU (Australia, New Zealand, etc are already behind us) and Canada we're going to target their industries as well. Instead of prioritizing the largest threat we're going to do everything ad hoc. Instead of prioritizing the USMCA to strengthen North America we're going to pull out of the JCPOA and block Iran from the world because they might have nukes. Then we're going to help Saudi Arabia get nukes. Instead of getting a huge investment in infrastructure which would lend to the long term growth and business investment in the US we're going to pass tax breaks, increase the debt/deficit, and let corporations buy back shares/issue dividends. Instead of working towards "green tech" and gain a foothold in that industry we're going to try to preserve coal and oil industries even as the market makes its own moves and undercuts them through sheer competitiveness.

I'm just going to call him "hoc" from now on.