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Thread: Trump threatens all-out trade war with China, tariffs on $200 billion worth of goods

  1. #1

    Trump threatens all-out trade war with China, tariffs on $200 billion worth of goods

    President Donald Trump threatened to escalate the trade fight with China into an all-out trade war on Monday, promising to impose massive tariffs on Chinese goods unless Beijing reverses course on its own trade actions.
    Trump directed the US Trade Representative's office to begin drawing up a list of $200 billion worth of Chinese goods to hit with a 10% tariff, dwarfing the size of previous trade actions against China.
    "Therefore, today, I directed the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent," Trump said. "After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced."

    More at: http://www.businessinsider.com/trump...ade-war-2018-6
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

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    Give a man an inch and right away he thinks he's a ruler

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    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
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  3. #2
    I think it should go through Congress.

    Having said that, 10% is laughable when you compare it to what other countries charge. That's not even an escalation. That's more like, "why even bother?" -type figures.

  4. #3
    China has underestimated U.S. President Donald Trump’s resolve to impose more tariffs unless it changes its “predatory” trade practices, a White House trade adviser said on Tuesday, as Trump greatly expanded the amount of Chinese imports possibly facing new duties.

    Trump threatened on Monday to hit $200 billion (£151.8 billion) of Chinese imports with 10 percent tariffs if Beijing retaliated against his previous targeting of $50 billion in imports, aimed at pressuring China to stop stealing U.S. intellectual property.
    He also threatened tariffs on another $200 billion of Chinese products should Beijing hit back again, bringing to $450 billion the potential amount of Chinese exports that could be targeted. That sum approaches the roughly $500 billion in total annual Chinese exports to the United States.
    White House trade adviser Peter Navarro, who views China as a hostile economic and military power, said Beijing had more to lose from a trade war. China imported $129.89 billion of U.S. goods last year, while the United States purchased $505.47 billion of Chinese products, according to U.S. data.

    More at: https://uk.reuters.com/article/uk-us...-idUKKBN1JE2ZR
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #4

  6. #5

    India just retaliated with new tariffs on U.S. goods. Here’s why developing economies like tariffs.

    by Ida Bastiaens, Nita Rudra and Stacey Williams June 28

    
    In a week that saw President Trump tweet against a wide range of companies and countries, India got its own shout-out for high tariffs. India joined the European Unionand China to push back against U.S. steel and aluminum tariffs, and notified the World Trade Organization (WTO) last week that it would impose higher import tariffs on 30 U.S. goods, including almonds, shrimp and chocolates.
    https://www.washingtonpost.com/news/...-like-tariffs/


    Worldwide retaliation for US tariffs begin on Sunday, putting a 'bull's eye' on wide range of goods


    • Fighting back against the Trump administration's steel tariffs, Canada will start collecting duties on a variety of U.S. products, including orange juice, yogurt, whiskey, maple syrup and soups.
    • Mexico and China will soon start collecting new tariffs on U.S. pork and dairy products.
    • On July 6, China is expected to unleash a 25 percent tariff on U.S. soybeans, a move that farmers have long dreaded.


    Jeff Daniels
    Published 1 Hour Ago

  7. #6
    Another good show from the Great Peter Schiff -
    Will Trade War Prick America's Economic Bubble:

    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.

  8. #7
    No matter. The people must sacrifice for the good of the Nation.
    Quote Originally Posted by dannno View Post
    Trump hasn't even been in 6 months, you can't call him a boondoggle President unless he has overseen a military boondoggle for at least a year or two.

    Quote Originally Posted by r3volution 3.0 View Post
    I'm a skittle shitting unicorn


  9. #8
    Quote Originally Posted by TheCount View Post
    No matter. The people must sacrifice for the good of the Nation.
    The people are the ones who are being destroyed by the present state of things and they are the ones who will benefit from fighting back in the trade wars.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  11. #9
    Quote Originally Posted by TheCount View Post
    No matter. The people must sacrifice for the good of the Nation.
    You sir, are no lover of liberty.
    1. Don't lie.
    2. Don't cheat.
    3. Don't steal.
    4. Don't kill.
    5. Don't commit adultery.
    6. Don't covet what your neighbor has, especially his wife.
    7. Honor your father and mother.
    8. Remember the Sabbath and keep it Holy.
    9. Donít use your Higher Power's name in vain, or anyone else's.
    10. Do unto others as you would have them do to you.

    "For the love of money is the root of all evil..." -- I Timothy 6:10, KJV

  12. #10
    Quote Originally Posted by TheCount View Post
    No matter. The people must sacrifice for the good of the Nation.
    Soy ?
    Do something Danke

  13. #11
    Mixed feelings about this, I see where Trump is coming from but I think he executed it wrong. If level playing field and less tariffs over all was the goal, he should've singled out countries one at a time. Individually, they won't stand a chance, but together, this could be drawn out for quite some time.

    Like, India has no business slapping tariffs on USA lol.

    In the end, the US will probably beat out China in the big picture by limiting their economic and military growth but how long is that going to take? An ongoing trade war is no bueno.
    How to plug a TWEET in post [ TWEET] [/TWEET ]

  14. #12
    Did China just call Trump's $500B tariffs bluff and will Trump act on this threat next now that China has retaliated with tariffs that target GOP vote bank?
    China's State Newspaper also alled Trump administration 'a gang of hoodlums'.

    Trump says China could face more than $500 billion in US tariffs

    Updated 2:58 AM ET Fri, 6 July 2018
    President Donald Trump speaks to supporters during a campaign rally at Scheels Arena on June 27, 2018 in Fargo, North Dakota. President Trump held a campaign style 'Make America Great Again' rally in Fargo, North Dakota with thousands in attendance.

    President Donald Trump said on Thursday he would consider imposing additional tariffs on $500 billion in Chinese goods, should Beijing retaliate.

    U.S. tariffs on $34 billion worth of Chinese goods kicked in on Friday. Another $16 billion are expected to go into effect in two weeks and potentially another $500 billion, Trump told reports aboard Air Force One on his way to a rally in Montana before the tariffs kicked in.
    China implemented retaliatory tariffs on some imports from the U.S., state media reported about two hours later, after new U.S. duties had taken effect.


    Red states will lose the most in trade war with China: Citigroup



    • The U.S. officially implemented tariffs on Chinese imports, to which China immediately retaliated to with levies of its own.
    • This tit-for-tat trade war would mostly impact states that voted “overwhelmingly” in favor of Trump in 2016 as they possess “jobs and output significantly affected by tariffs,” says Dana Peterson, Citi's North America economist.
    • She notes, “80 percent of ‘red’ states produce goods subject to retaliatory tariffs totaling 10 percent or more of GDP, compared to 10 percent of ‘blue’ states.”







    And this timing is interesting, China using NK also?

    North Korea Slams `Cancerous' U.S. Demands at Nuclear Talks

    July 7, 2018

    • Foreign ministry statement comes hours after Pompeo departs
    • Secretary of state said negotiations done in ‘good faith’


    The U.S. and North Korea sharply diverged after two days of talks, with Pyongyang terming the U.S. position on denuclearization during meetings with Mike Pompeo “extremely regrettable,” hours after the secretary of state cited progress on central issues.
    A North Korean Foreign Ministry spokesman, in a statement reported by the state media outlet Korea Central News Agency, said Pompeo had put forward the same “cancerous” demands that past administrations had sought.

  15. #13
    Meanwhile, the trade deficit has plummeted and exports are up by almost five times the increase in imports.

    https://www.breitbart.com/big-govern...d-high-exports

    So... reality testing, people. Learn it.

  16. #14
    Quote Originally Posted by thoughtomator View Post
    Meanwhile, the trade deficit has plummeted and exports are up by almost five times the increase in imports.

    https://www.breitbart.com/big-govern...d-high-exports

    So... reality testing, people. Learn it.
    A 19 month low? Back to October 2016 numbers? Three cheers for central planning!
    Last edited by TheCount; 07-07-2018 at 10:33 AM.
    Quote Originally Posted by dannno View Post
    Trump hasn't even been in 6 months, you can't call him a boondoggle President unless he has overseen a military boondoggle for at least a year or two.

    Quote Originally Posted by r3volution 3.0 View Post
    I'm a skittle shitting unicorn


  17. #15
    I already do not buy goods from china or california.
    Do something Danke

  18. #16
    Trump just keeps winning. There has been a trade war going on for decades. The world has been waging a ruthless aggresive trade war on the US for all of this time and we have just now decided to fight back. We will win this easily and the manufacturing jobs will come back to the US. We don't need these countries. These socialist countries need us and will implode without us. They fattened themselves up by having unlimited access to the US consumer base. No more unless it's reciprocal trade.

    It is a myth that the US was always some free trade country where there were no tariffs. In the past it was the opposite btw.
    Last edited by nbhadja; 07-07-2018 at 12:01 PM.
    "Countries are benefited when they changed these [national sovereignty] policies, and evidence suggests that North Americans are ready for a new relationship that renders this old definition of sovereignty obsolete."

    CFR task force co-chairman Robert Pastor



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  20. #17
    well.. so the Chinese will have a lower instance of man boobs due to less of the estrogen precursor .. soy
    *sounds of backfire*
    Disclaimer: any post made after midnight and before 8AM is made before the coffee dip stick has come up to optomim level - expect some level of silliness,

    The problems we face today exist because the people who work for a living are out numbered by those who vote for a living !!!!!!!

  21. #18
    Quote Originally Posted by TheCount View Post
    No matter. The people must sacrifice for the good of the Nation.
    It is a matter of national security that companies and consumers must pay more for things.

    (National Security is the justification of the tariffs- otherwise they would require Congressional approval)
    Last edited by Zippyjuan; 07-07-2018 at 02:25 PM.


    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

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  22. #19
    Quote Originally Posted by enhanced_deficit View Post
    And this timing is interesting, China using NK also?

    North Korea Slams `Cancerous' U.S. Demands at Nuclear Talks

    July 7, 2018

    • Foreign ministry statement comes hours after Pompeo departs
    • Secretary of state said negotiations done in ‘good faith’


    The U.S. and North Korea sharply diverged after two days of talks, with Pyongyang terming the U.S. position on denuclearization during meetings with Mike Pompeo “extremely regrettable,” hours after the secretary of state cited progress on central issues.
    A North Korean Foreign Ministry spokesman, in a statement reported by the state media outlet Korea Central News Agency, said Pompeo had put forward the same “cancerous” demands that past administrations had sought.
    In the statement released hours after Pompeo departed Tokyo after meeting with Kim Yong Chol, a senior aide to North Korean leader Kim Jong Un, a North Korean Foreign Ministry spokesman accused the US is trying to unilaterally pressure Pyongyang into abandoning its nuclear weapons by insisting on unilateral complete, verifiable and irreversible denuclearisation (CVID), and said trust between countries is in a "dangerous stage", while adding that North Korea still trusts President Donald Trump.

    More at: https://www.zerohedge.com/news/2018-...earization-may
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  23. #20
    Quote Originally Posted by TheCount View Post
    Three cheers for central planning!
    Meh. That's been going on for a while. Folks can't take a dump in an outhouse without notifying the WTO first and getting it okay'd.

  24. #21
    Quote Originally Posted by Swordsmyth View Post
    In the statement released hours after Pompeo departed Tokyo after meeting with Kim Yong Chol, a senior aide to North Korean leader Kim Jong Un, a North Korean Foreign Ministry spokesman accused the US is trying to unilaterally pressure Pyongyang into abandoning its nuclear weapons by insisting on unilateral complete, verifiable and irreversible denuclearisation (CVID), and said trust between countries is in a "dangerous stage", while adding that North Korea still trusts President Donald Trump.
    While there is no proof that they are using Tv comedy show Office negotiation tactic #14 (massage opponent's ego before stabbing them) or they have read 'art of the dealer' but to be fair Trump also praised China's Prez has a 'great man' and 'a friend' just before he unleashed massive tariffs that have caused China's markets to fall by almost 30% so far.

    Do you think NK's is atacking Trump's Sec of State while massaging his ego to 'divide and conquer' or is implying that Sec of State Pompeo is a rogue agent acting against Trump's direction?

    Following similar 'gangster' like terms used by NK/China media were orchestrated or random coincidence?

    China's State Paper calls Trump adminstration 'gang of hoodlums' (in reality, Trump surrounds himself with the best people)

    North Korea Criticizes ‘Gangster-Like’ U.S. Attitude After Talks With Mike Pompeo

    https://www.nytimes.com/2018/07/07/world/asia/mike-pompeo-north-korea-pyongyang.html

  25. #22
    Quote Originally Posted by oyarde View Post
    I already do not buy goods from china or california.
    What kind of computer or smart phone do you use?
    How to plug a TWEET in post [ TWEET] [/TWEET ]

  26. #23
    Quote Originally Posted by enhanced_deficit View Post
    While there is no proof that they are using Tv comedy show Office negotiation tactic #14 (massage opponent's ego before stabbing them) or they have read 'art of the dealer' but to be fair Trump also praised China's Prez has a 'great man' and 'a friend' just before he unleashed massive tariffs that have caused China's markets to fall by almost 30% so far.

    Do you think NK's is atacking Trump's Sec of State while massaging his ego to 'divide and conquer' or is implying that Sec of State Pompeo is a rogue agent acting against Trump's direction?

    Following similar 'gangster' like terms used by NK/China media were orchestrated or random coincidence?

    China's State Paper calls Trump adminstration 'gang of hoodlums' (in reality, Trump surrounds himself with the best people)

    North Korea Criticizes ‘Gangster-Like’ U.S. Attitude After Talks With Mike Pompeo

    https://www.nytimes.com/2018/07/07/w...pyongyang.html
    It is certainly possible that it is some kind of negotiation tactic but that would just show that they are still interested in negotiation.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  27. #24
    Quote Originally Posted by eleganz View Post
    What kind of computer or smart phone do you use?
    I do not own a smart phone . I did not buy my computer . I rarely buy anything new . Mostly I buy used items and American made tools .
    Do something Danke



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  29. #25
    Related?

    China said this week it will shut more outdated steel and coke capacity in the next three years as part of its battle against pollution. Separately, China’s top steelmaking city of Tangshan ordered steel companies and coke producers to meet ultra-low emissions targets.

    More at: https://www.reuters.com/article/us-a...-idUSKBN1JW09E
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  30. #26
    Quote Originally Posted by Swordsmyth View Post
    Related?

    China said this week it will shut more outdated steel and coke capacity in the next three years as part of its battle against pollution. Separately, China’s top steelmaking city of Tangshan ordered steel companies and coke producers to meet ultra-low emissions targets.

    More at: https://www.reuters.com/article/us-a...-idUSKBN1JW09E
    They probably better start thinking about improving the quality of that steel. I do not buy it because it is $#@! .
    Do something Danke

  31. #27
    Quote Originally Posted by oyarde View Post
    They probably better start thinking about improving the quality of that steel.
    I don't think that is possible in the corrupt culture their current regime has created.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  32. #28
    Kudlow: We're operating from a greater position of economic strength
    http://video.foxbusiness.com/v/58026...#sp=show-clips


    Last edited by donnay; 07-07-2018 at 10:14 PM.
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  33. #29
    Quote Originally Posted by TheCount View Post
    Three cheers for central planning!

    But I thought progressives like you were all for one world order!
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




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  34. #30
    The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world’s two largest economies.
    The tariffs could take effect after public consultations end on Aug. 30, according to a statement from the U.S. Trade Representative’s office Tuesday. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other high-tech items, but it omitted some high-profile products like mobile phones.

    More at: https://www.newsmax.com/politics/tru...&utm_content=1
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

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