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Thread: Boom. You can't out tariff us. Period. This Trump knows.

  1. #691
    China will more than triple its capacity for production of ethanol in little over a year. According to a Dou Kejun, a researcher at the China National Renewable Energy Centre, the nation is already constructing or seeking approval to construct new ethanol plants with a total production capacity of over 6.6 million tonnes of the mostly corn- and cassava-based biofuel each year.6.6 million tonnes is an especially stunning figure when you consider that China’s entire ethanol production in 2017 was just 2.8 million tonnes. Feng Wensheng, a manager at Henan Tianguan Group Co Ltd., a major Chinese producer, estimates that current capacity has already risen to about 3.38 million tonnes, including some plants that are still under construction after very recent approval. A major factor in this massive uptick is the government’s announcement last year that they would now be requiring gasoline supplies nationwide to be blended with ethanol by just 2020. This requirement alone will require about 15 million tonnes of ethanol per year.
    Unlike ethanol in the United States, the vast majority of which is corn-based, less than half of China’s current ethanol production is derived from corn, a larger portion (1.7 million tonnes) being sourced from cassava. Other sources of Chinese biofuels include wheat, sorghum and rice.
    China’s newly soaring demand for ethanol has garnered quite a lot of attention from the international biofuels industry, as most believe it’s highly unlikely that China will be able to produce enough ethanol on domestic soil to meet the nation’s soaring thirst. Contrary to the predominant belief within the industry, researcher Dou reported to Reuters that China’s planned growth in production capacity would take the country “quite close” to the volumes necessary to meet its 2020 objective. He hedged this statement by saying the process is not set, but dynamic and subject to change. Meanwhile, many industry insiders predict that China will need to import large volumes of ethanol from other major international producers of the biofuel such as the United States and Brazil, the world’s first and second biggest ethanol producers, respectively.

    This dynamic is muddied considerably, however, by the ongoing trade war between China and the United States. After Chinese President Xi Jinping imposed tariffs on U.S. ethanol imports and the U.S. takes a step back from overall trade in China, a surprising player has stepped up to fill China’s unflagging demand. Over the course of just two months, Malaysia--a nation with negligible levels of use or production of ethanol--has shocked the industry by displacing the United States and China’s biggest ethanol supplier.
    Where is Malaysia getting all of this ethanol? From the very same nation they displaced. Far from becoming an ethanol producer the size of the United States or Brazil, Malaysia is just playing go-between between the quarreling superpowers, as the Southeast Asian nation has simultaneously ramped up their imports of U.S. ethanol to record quantities. Malaysia serves to fill a loophole in the complicated trade relations between the U.S. and China, as shipments from Malaysia to China are tax-free.

    More at: https://oilprice.com/Alternative-Ene...roduction.html
    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 mankind…it’s people I can’t 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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  3. #692
    The English language headline for China’s National Bureau of Statistics’ press release on November 2018’s Big 3 was, National Economy Maintained Stable and Sound Momentum of Development in November. For those who, as noted yesterday, are wishing China’s economy bad news so as to lead to the supposed good news of a coordinated “stimulus” response this was itself a bad news/good news situation.

    If the Communist State Council is to be flustered into action, the title of the release might suggest maybe not. Then again, there isn’t a month that goes by where the NBS writers don’t write pretty much the same thing. In a Communist country, any wording less than “sound momentum” is surely frowned upon especially when there is no momentum.
    Underneath, the figures were all bad. Were they bad enough? I don’t believe anything short of full-fledged collapse will be, but this is attempting to game and analyze a political factor whose proportions are never going to be fully known.
    What we are left with is pure ugly. The last time Industrial Production grew at a 5.4% annual rate, as it did last month, it was February 2016 and the worst of times for modern, industrial China. It was also the same month the last “stimulus” was uncorked.
    It doesn’t get any lower than the 2015-16 downturn so for Chinese industry to already be at that depth with “this one” just getting started, it all tells us that perhaps there is a lot of downside left to come and that officials are keenly aware of the possibility.



    If this was somehow unexpected and unapproved, so to speak, they wouldn’t have waited for 5.4% to reappear. That goes double for consumer spending, or retail sales in this case. Chinese retail activity grew by just 8.1% in November. You have to go back fifteen years to find something less.

    What should really stand out especially for the stimulus whisperers is when China’s latest economic inflection transpired. It wasn’t Trump and trade, it was in the middle of last year for both IP as well as RS.

    Why mid-2017? That was when authorities began to realize the full extent of their predicament. They had done the “stimulus” stuff in a rush to begin 2016 and it didn’t get anywhere. There are often heavy costs to doing these kinds of things, so to pay out a lot and receive very little in return from it is a big counterpoint to thinking about doing it again.


    China simply has, as we’ve been writing and speaking about for half a decade (and more, less specifically about China), no monetary room with which to get any kind of internal growth started. That point was driven home last year. The global economy despite all officials protestations everywhere has never once picked up toward recovery.
    Therefore, the Chinese government is left between the rock (external malaise) and the hard place (no internal monetary space). Only a few months after June 2017, Communist officials convened at the 19th Party Congress and “elected” to move authoritarian. This, I don’t believe, is mere coincidence.


    The only mild positive so far in 2018 is how Fixed Asset Investment (FAI) has stabilized albeit at extremely low levels. Private FAI, in particular, is growing at around a 9% rate (8.8% in November) which is better than late last year.




    The flipside of that is how Private FAI seems to have hit a ceiling around 9%, nowhere near the 25% rate that for a few years kept China out of trouble. Even with officials at lower levels (almost certainly on orders from the central government) in the provinces no longer clamping down on the waste of State-owned FAI, it hasn’t stabilized China’s economy because it can’t.
    On an accumulated basis, Public FAI rose 2.3% in November (meaning YTD) while on a monthly basis it was less than 7% (annual rate) for the second straight month. Like Private FAI, better than before but not really meaningfully so. It seems more like messaging than meaning.
    To me, this adds up to the same thing – an attempt at managing the decline rather than intentions to turn it around as expectations for globally synchronized growth would have required.

    More at: https://www.zerohedge.com/news/2018-...anic-next-week
    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 mankind…it’s people I can’t 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

  4. #693
    The U.S. Trade Representative's office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST (0501 GMT) on March 2, 2019 as the United States and China pursue talks on trade and intellectual property.The change was made in a Federal Register filing from a previously scheduled effective date of Jan. 1, 2019 for the increase to 25 percent from 10 percent.

    More at: https://news.yahoo.com/u-sets-march-...--finance.html
    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 mankind…it’s people I can’t 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. #694
    The resumption of soybean sales to China this week is encouraging to American farmers who have seen the value of their crop plummet amid a trade war with the world's second-largest economy, but producers see it only as a small step and say they need more federal aid.Private exporters reported sales of 1.13 million metric tons of soybeans to China on Thursday and another 300,000 metric tons on Friday, the U.S. Department of Agriculture said. The Thursday report was the ninth-largest daily sale since 1977, according to the agency's Foreign Agriculture Service, and it comes less than two weeks after the Trump administration reached a three-month truce in its trade war with China during which the two sides will try to work out their differences.

    January soybean futures in early Friday trading on the Chicago Board of Trade gained 40 cents to about $9.06 a bushel. That's down from almost $15 a bushel four years ago and nearly $10 a bushel 18 months ago.

    More at: https://news.yahoo.com/farmers-buoye...183715650.html
    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 mankind…it’s people I can’t 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

  6. #695
    Quote Originally Posted by Swordsmyth View Post
    January soybean futures in early Friday trading on the Chicago Board of Trade gained 40 cents to about $9.06 a bushel. That's down from almost $15 a bushel four years ago and nearly $10 a bushel 18 months ago.

    More at: https://news.yahoo.com/farmers-buoye...183715650.html
    Completely arbitrary timepoints so that the infotainists can keep their editor happy. Here is a link to the the historical chart.
    Soybean Prices - 45 Year Historical Chart

    I guess its Bill Clinton's fault for the lowest price per bushel in the past twenty years.

    XNN
    "They sell us the president the same way they sell us our clothes and our cars. They sell us every thing from youth to religion the same time they sell us our wars. I want to know who the men in the shadows are. I want to hear somebody asking them why. They can be counted on to tell us who our enemies are but theyre never the ones to fight or to die." - Jackson Browne Lives In The Balance

  7. #696
    Quote Originally Posted by XNavyNuke View Post
    Completely arbitrary timepoints so that the infotainists can keep their editor happy. Here is a link to the the historical chart.
    Soybean Prices - 45 Year Historical Chart

    I guess its Bill Clinton's fault for the lowest price per bushel in the past twenty years.

    XNN
    And the bumper crop had nothing to do with the price, only Trump is responsible.
    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 mankind…it’s people I can’t 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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  9. #697
    China has, for the first time ever, provided clearance for U.S. rice imports into its domestic market, the South China Morning Post reported Dec. 28.

    More at: https://worldview.stratfor.com/situa...ad-trade-talks
    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 mankind…it’s people I can’t 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

  10. #698
    Japan to cut way back on buying American produce, grain and meat products and lower tariffs on competitor's products instead.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  11. #699
    Quote Originally Posted by devil21 View Post
    Japan to cut way back on buying American produce, grain and meat products and lower tariffs on competitor's products instead.
    And all we had to do to avoid it was submit to the TPP.
    Whose side are you on?

    We can still negotiate a bilateral trade agreement that doesn't move us towards world government.
    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 mankind…it’s people I can’t 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

  12. #700
    Quote Originally Posted by Swordsmyth View Post
    And all we had to do to avoid it was submit to the TPP.
    Whose side are you on?
    Side? Hmm, I wasn't aware this was a football game. I like facts and presenting a complete picture, instead of cherry-picking articles to create a one-sided narrative like some do around here. Consider me the color-commentator in the booth while you're on the sidelines spraying Gatorade into player's mouths.

    We can still negotiate a bilateral trade agreement that doesn't move us towards world government.
    We can. We haven't, but we can.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  13. #701
    Quote Originally Posted by devil21 View Post
    Side? Hmm, I wasn't aware this was a football game. I like facts and presenting a complete picture, instead of cherry-picking articles to create a one-sided narrative like some do around here. Consider me the color-commentator in the booth while you're on the sidelines spraying Gatorade into player's mouths.
    There is the side of the globalists in favor of TPP and the side of the patriots against it.

    Which side are you on?
    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 mankind…it’s people I can’t 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

  14. #702
    Quote Originally Posted by Swordsmyth View Post
    There is the side of the globalists in favor of TPP and the side of the patriots against it.

    Which side are you on?
    If I had to "pick a side" (never mind that rarely are two sides the only cut and dry options) of course it's the patriot side. Engaging with you about such things is ridiculous, however, since I disagree with most every premise of your posts.

    Tariffs are a tax on American buyers. Tariffs push trade partners to seek out new trade partners, as the Japanese changes show, which you obviously avoided posting because it doesn't fit the cherry-picked narrative you present. And finally, none of this tariff stuff ever addresses the root cause, which is the global de-dollarization that is underway.

    So maybe you can see why I'm not eager to jump onto your predetermined "sides" choice, since there's a lot of lies, false narratives and incomplete information being pushed. Taking sides based on such things is for small minds.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  15. #703
    Quote Originally Posted by devil21 View Post
    If I had to "pick a side" (never mind that rarely are two sides the only cut and dry options) of course it's the patriot side. Engaging with you about such things is ridiculous, however, since I disagree with most every premise of your posts.

    Tariffs are a tax on American buyers. Tariffs push trade partners to seek out new trade partners, as the Japanese changes show, which you obviously avoided posting because it doesn't fit the cherry-picked narrative you present. And finally, none of this tariff stuff ever addresses the root cause, which is the global de-dollarization that is underway.

    So maybe you can see why I'm not eager to jump onto your predetermined "sides" choice, since there's a lot of lies, false narratives and incomplete information being pushed. Taking sides based on such things is for small minds.
    The Japanese tariffs on our goods are the problem, you implied that Trump had done something bad that was resulting in the Japanese lowering tariffs on other people but not on us, the only thing Trump did that affected that was not bad, it was good, it was pulling us out of the TPP which is designed to move towards world government.

    In order to get the Japanese to lower tariffs on us without joining the TPP it will be necessary to negotiate a bilateral agreement and that might end up requiring us to put tariffs on them temporarily.

    Anything else is irrelevant to the question of tariffs.

    You say you are on the side against the TPP so you should be giving Trump credit for pulling us out.
    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 mankind…it’s people I can’t 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

  16. #704
    Quote Originally Posted by devil21 View Post
    Consider me the color-commentator in the booth while you're on the sidelines spraying Gatorade into player's mouths.
    LOL, I love it, 21. :^D

    This is the best thing I remember you ever writing in your career here, or at least the one I can relate to and understand the most.

    Quote Originally Posted by Swordsmyth View Post
    You say you are on the side against the TPP so you should be giving Trump credit for pulling us out.
    Well, I mean, he does, right? I mean, what do you want from him? Prayer facing Trump Tower five times a day? Trump got us out of the TPP. 21 doesn't deny that, nobody denies that; even Wonka just wisely stays quiet about it, while Juan posts articles, coloured graphs, and short brain-damaged-from-trauma sentences which assume without argument that obviously ending TPP was a bad thing. But nobody denies the facts of the matter: that Trump kept his promise and killed that monster. So... I don't know; like, that's a win. For both Reality Acceptance and Team Trump. I don't know to which one you're more loyal, but either way, you should be whistling a happy tune, not giving 21 a hard time for posting things which are also facts and part of reality and which happen to not be so unambiguously complimentary towards Trump as his drowning of TPP in its bathwater.
    Last edited by H_H; 12-31-2018 at 08:29 AM.



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  18. #705
    Quote Originally Posted by H_H View Post
    LOL, I love it, 21. :^D

    This is the best thing I remember you ever writing in your career here, or at least the one I can relate to and understand the most.

    Well, I mean, he does, right? I mean, what do you want from him? Prayer facing Trump Tower five times a day? Trump got us out of the TPP. 21 doesn't deny that, nobody denies that; even Wonka just wisely stays quiet about it, while Juan posts articles, coloured graphs, and short brain-damaged-from-trauma sentences which assume without argument that obviously ending TPP was a bad thing. But nobody denies the facts of the matter: that Trump kept his promise and killed that monster. So... I don't know; like, that's a win. For both Reality Acceptance and Team Trump. I don't know to which one you're more loyal, but either way, you should be whistling a happy tune, not giving 21 a hard time for posting things which are also facts and part of reality and which happen to not be so unambiguously complimentary towards Trump as his drowning of TPP in its bathwater.
    Thanks.

    There's also the part where the falling apart of TPP was foreshadowed by the Rothschild's magazine, The Economist (World in 2017 cover, Hermit tarot card), before Trump was even sworn in. Someone could question whether TPP was decided to be scrapped and the credit merely given to Trump in order to gain credibility at the start of his administration.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  19. #706
    Quote Originally Posted by devil21 View Post
    Thanks.

    There's also the part where the falling apart of TPP was foreshadowed by the Rothschild's magazine, The Economist (World in 2017 cover, Hermit tarot card), before Trump was even sworn in. Someone could question whether TPP was decided to be scrapped and the credit merely given to Trump in order to gain credibility at the start of his administration.
    Yeah, there's endless conspiracy theories out there, one could go down that rabbit-hole forever, so I try to just stick with facts.

    Of course, above you're just giving some legitimate tangible facts (magazine covers, etc.) which are easily verifiable, and then it's up to the reader what to make of them. So I like that. Also, I do respect that you're not just a consumer of conspiracy models, but roll your own, which is very commendable.

  20. #707
    Quote Originally Posted by H_H View Post
    Yeah, there's endless conspiracy theories out there, one could go down that rabbit-hole forever, so I try to just stick with facts.

    Of course, above you're just giving some legitimate tangible facts (magazine covers, etc.) which are easily verifiable, and then it's up to the reader what to make of them. So I like that. Also, I do respect that you're not just a consumer of conspiracy models, but roll your own, which is very commendable.
    Thanks for the kind words and Happy New Year to you.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  21. #708
    Quote Originally Posted by H_H View Post
    LOL, I love it, 21. :^D

    This is the best thing I remember you ever writing in your career here, or at least the one I can relate to and understand the most.

    Well, I mean, he does, right? I mean, what do you want from him? Prayer facing Trump Tower five times a day? Trump got us out of the TPP. 21 doesn't deny that, nobody denies that; even Wonka just wisely stays quiet about it, while Juan posts articles, coloured graphs, and short brain-damaged-from-trauma sentences which assume without argument that obviously ending TPP was a bad thing. But nobody denies the facts of the matter: that Trump kept his promise and killed that monster. So... I don't know; like, that's a win. For both Reality Acceptance and Team Trump. I don't know to which one you're more loyal, but either way, you should be whistling a happy tune, not giving 21 a hard time for posting things which are also facts and part of reality and which happen to not be so unambiguously complimentary towards Trump as his drowning of TPP in its bathwater.
    I always side with reality over anything else, I pushed D21 on this because his post implies that Japan dropping tariffs on others but not us is a bad thing and Trump's fault when in fact it is an unfortunate side effect of something good Trump did, we didn't walk into the trap so we don't get the bait.
    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 mankind…it’s people I can’t 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

  22. #709
    American manufacturing jobs have boomed to a more than 20-year high as President Trump has imposed a wide range of tariffs on imported steel, aluminum, and Chinese products — dooming predictions made by free traders that have yet to pan out.

    U.S. manufacturers added 284,000 jobs in the last year, the most jobs added in the sector in a single year since 1997, as Breitbart News’s Economics Editor John Carney notes. In December 2018, alone, about 32,000 factory jobs were created.
    American manufacturing is vital to the prosperity of communities, as every one manufacturing job supports about 3.6 American jobs in other sectors of industry.


    The U.S. manufacturing jobs boom comes as free trade economists, billionaire donors, and establishment media pundits have routinely claimed that Trump’s 25 percent tariff on imported steel and ten percent tariff on aluminum would cripple the American economy.
    They said Trump's promise to bring back manufacturing jobs was a "con," told us we were dupes for believing in a manufacturing revival.
    It just couldn't be done. It was impossible.
    But we're America. The impossible country. So we did it anyway.https://t.co/GnWXcDCq0P pic.twitter.com/Kp3TAGJ1dB
    — John Carney (@carney) January 4, 2019
    In November 2018, the U.S. Chamber of Commerce wrote a letter to U.S. Trade Representative Robert Lighthizer claiming that Trump’s tariffs on imported products “endangers the jobs of millions of workers” in industries that have grown to rely on cheap foreign imports.
    Months ago, the chairman of Cummins, a fortune 500 company, wrote an op-ed in the New York Times claiming that even short-term tariffs would cripple American industry.
    “We see no upside in the implementation of tariffs,” Cummins Chairman Tom Linebarger wrote. “They are a tax, and the risky proposition of entering a trade war could slow down the economy. Even putting up short-term barriers with trading partners in China and Europe can cause long-term losses in market share, resulting in lost jobs in the United States.”
    The free traders at the Tax Foundation wrote their research predicted that not only would Trump’s tariffs crush American industries, but they would also decrease Americans’ wages.
    “These tariffs increase production costs for U.S. manufacturers, placing them at a competitive disadvantage, and will, on net, destroy more output, wages, and employment in the United States than they create,” Tax Foundation analysts wrote.
    For U.S. wages, the opposite has panned out. In December, Americans’ wages grew 3.2 percent in December 2018 compared to last year.

    More at: https://www.breitbart.com/politics/2...cturing-booms/
    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 mankind…it’s people I can’t 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. #710
    March 23, 2018

    Amid the outcry over President Trump’s trade taxes on Chinese products, set to begin today, a new report reveals that the Asian economic giant imposes tariffs more than twice as high as the United States.
    On average, China’s tariff on products is 3.54 percent, according to the World Bank.

    Average applied tariff rate across all products, 2016:
    ���� Canada 0.8%
    ���� Japan 1.4%
    ���� EU 1.6%
    ���� U.S. 1.6%
    ���� China 3.5%
    ���� Mexico 4.4%
    ���� India 6.3%
    ���� Brazil 8.0%https://t.co/HK7Lk98eYU pic.twitter.com/WT6HRe9lpY
    — Pew Research Global (@pewglobal) March 22, 2018





    By comparison, the U.S. average is 1.61 percent. That is among the lowest in the world and also about the lowest ever charged by the country.
    “Since the turn of the 21st century, U.S. average tariff rates have consistently been at or near their lowest levels in the nation’s history; today, they’re also among the lowest in the world,” said an analysis of the world data by the Pew Research Center.
    “According to the World Bank, the average applied U.S. tariff across all products was 1.61 percent; that was about the same as the average rate of 1.6 percent for the 28-nation EU, and not much higher than Japan’s 1.35 percent. Among other major U.S. trading partners, Canada’s average applied tariff rate was 0.85 percent, China’s was 3.54 percent and Mexico’s was 4.36 percent,” it added.



    More at: https://www.washingtonexaminer.com/w...higher-than-us
    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 mankind…it’s people I can’t 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

  24. #711
    Three U.S. crude oil cargoes are currently headed to China in what could be the first Chinese purchase of American crude since the trade war escalated last summer and since the ‘trade-war truce’ of three months began in December, Reuters reported on Tuesday, quoting ship brokers and tanker-tracking data.
    Although crude oil is not on China’s tariff list, Chinese buyers have been staying away from U.S. crude oil purchases since the summer of 2018, when the trade war escalated.
    According to EIA data, the United States didn’t export any crude oil to China in August, September, and October, compared to 384,000 bpd in July and a record-high 510,000 bpd in June.
    After the United States and China called a trade-war truce in early December and pledged to immediately begin trade negotiations in view of possible deal within 90 days, Chinese refiners are said to have started to look for opportunities to buy U.S. crude oil until March 1, when the negotiating period expires.
    According to ship brokers who spoke to Reuters and to Refinitiv Eikon vessel tracking data, three cargoes left Galveston, Texas, in December and are currently heading to China. One tanker is expected to arrive in China late in January and two others are planned to arrive in late February or early March, although the final destinations could change.

    More at: https://oilprice.com/Latest-Energy-N...-To-China.html
    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 mankind…it’s people I can’t 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

  25. #712
    China has extended the olive branch back to the United States by offering a path to eliminate Washington’s burgeoning trade deficit with the country, Bloomberg reported Friday.

    Citing sources familiar with the matter, Bloomberg reported Friday that China has offered to significantly boost its purchase of U.S. goods over a six-year period in an effort to re-balance trade between the two superpowers. By increasing its annual imports from the United States, Beijing would reduce its trade surplus to zero by 2024. That would require a spending boost of more than $1 trillion.
    Last year, Beijing’s surplus with the U.S. stood at $323 billion.

    More at: https://finance.yahoo.com/news/bye-b...160627486.html
    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 mankind…it’s people I can’t 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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  27. #713
    The United States is pushing for regular reviews of China's progress on pledged trade reforms as a condition for a trade deal - and could again resort to tariffs if it deems Beijing has violated the agreement, according to sources briefed on negotiations to end the trade war between the two nations.A continuing threat of tariffs hanging over commerce between the world's two largest economies would mean a deal would not end the risk of investing in businesses or assets that have been impacted by the trade war.
    "The threat of tariffs is not going away, even if there is a deal," said one of three sources briefed on the talks who spoke with Reuters on condition of anonymity.
    Chinese negotiators were not keen on the idea of regular compliance checks, the source said, but the U.S. proposal "didn't derail negotiations."
    A Chinese source said the United States wants “periodic assessments” but it's not yet clear how often.
    “It looks like humiliation," the source said. "But perhaps the two sides could find a way to save face for the Chinese government."

    More at: https://news.yahoo.com/exclusive-u-p...182900413.html
    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 mankind…it’s people I can’t 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

  28. #714
    Quote Originally Posted by Swordsmyth View Post
    China has extended the olive branch back to the United States by offering a path to eliminate Washington’s burgeoning trade deficit with the country, Bloomberg reported Friday.

    Citing sources familiar with the matter, Bloomberg reported Friday that China has offered to significantly boost its purchase of U.S. goods over a six-year period in an effort to re-balance trade between the two superpowers. By increasing its annual imports from the United States, Beijing would reduce its trade surplus to zero by 2024. That would require a spending boost of more than $1 trillion.
    Last year, Beijing’s surplus with the U.S. stood at $323 billion.

    More at: https://finance.yahoo.com/news/bye-b...160627486.html
    Another nail in the global dollar's coffin, if true. Trade deficits are a requirement for dollar global reserve so it's more like bye-bye global dollar reserve.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  29. #715
    Treasury Secretary suggests easing tariffs to try to get China trade deal. Boss says no.

    https://www.cnbc.com/2019/01/19/-tru...ith-china.html

    Trump says deal 'could very well happen' with China, but denies he's considering lifting tariffs

    President Donald Trump said on Saturday there has been progress toward a trade deal with China, but denied that he was considering lifting tariffs on Chinese imports.

    "Things are going very well with China and with trade," he told reporters at the White House, adding that he had seen some "false reports" indicating that U.S. tariffs on Chinese products would be lifted.

    "If we make a deal certainly we would not have sanctions and if we don't make a deal we will," Trump said. "We've really had a very extraordinary number of meetings and a deal could very well happen with China. It's going well. I would say about as well as it could possibly go."

    Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for the next round of trade negotiations with Washington.

    That follows lower-level negotiations held in Beijing last week to resolve the bitter dispute between the world's two largest economies by March 2, when the Trump administration is scheduled to increase tariffs on $200 billion worth of Chinese goods.

    According to sources briefed on the ongoing negotiations, cited exclusively by Reuters on Friday, the United States is pushing for regular reviews of China's progress on pledged trade reforms as a condition for a trade deal — and could again resort to tariffs if it deems Beijing has violated the agreement.

    "The threat of tariffs is not going away, even if there is a deal," said one of three sources briefed on the talks who spoke with Reuters on condition of anonymity.

    Chinese negotiators were not keen on the idea of regular compliance checks, the source said, but the U.S. proposal "didn't derail negotiations."

    A Chinese source said the United States wants periodic assessments but it was not yet clear how often.

    "It looks like humiliation," the source said. "But perhaps the two sides could find a way to save face for the Chinese government."

    The Trump administration has imposed import tariffs on Chinese goods to put pressure on Beijing to meet a long list of demands that would rewrite the terms of trade between the two countries.

    The demands include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other trade barriers.

  30. #716
    Quote Originally Posted by Zippyjuan View Post
    Treasury Secretary suggests easing tariffs to try to get China trade deal. Boss says no.

    https://www.cnbc.com/2019/01/19/-tru...ith-china.html
    It has been denied that the Treasury Secretary suggested that.

    Trump is right.
    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 mankind…it’s people I can’t 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

  31. #717
    Apple Inc.’s main assemblers are shifting more output to India and Southeast Asia as trade tensions threaten to escalate costs in their longstanding production base of China.Hon Hai Precision Industry Co., known also as Foxconn, said over the weekend it’s investing more than $200 million in India and Vietnam. Smaller rival Pegatron Corp. said Sunday it’s moved to Indonesia some manufacturing of networking gear hit by rising U.S. tariffs on Chinese imports, and is now exploring bases in Vietnam and India as well.
    While neither explicitly said they’re shifting production of Apple products, the twin announcements underscore the extent to which the Taiwanese companies that make most of the world’s electronics are reconsidering a reliance on the world’s second-largest economy. From iPhone assemblers like Foxconn and Pegatron to laptop maker Compal Electronics Inc., they’re bracing for a fundamental shift in an arrangement that’s served them well since the 1980s.
    “We have begun shipping from Batam island, Indonesia, in January,” Pegatron Chief Executive Officer Liao Syh-jang told reporters on Sunday. “Whether the U.S. will decide to go ahead with new tariffs on March 1 will be a key impact on the speed of the company’s further diversification.”


    More at: https://news.yahoo.com/apple-apos-pa...013213185.html
    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 mankind…it’s people I can’t 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. #718
    Going full autarchy would probably be highly beneficial in the long term for the health and well-bring of the people of the United States of America. Autarchy means national self-sufficiency. Just cut off all trade with everyone. This situation happens during an all-out war, due to logistical realities —not being able to trade with anyone — but it could also be enacted as a matter of conscious policy.

    This would result in a lower level of economic prosperity for the USA, all else equal, as a thousand Mises Institute lectures can explain to you. It might, however, seem to you, alert societal observer, that more prosperity is the very last thing the people of America need. So while the conventional thinking is that any reduction in the sacred GDP is an unalloyed catastrophic bad, if you are a strange and baffling breed we call “independent thinker,” you may think it would be a good.

    It also would result in increased independence, both nationally and for American fathers and their families. Everything anyone in America wants to buy — and there is an awful long list of such things, let me tell you — would have to be made by a fellow American. And so finally the insatiable appetite for consumption would be matched — precisely — by an equally insatiable appetite for production.

    It’s simple economic law. Watch some Mises if you don’t agree/understand.

  33. #719
    Well I just found out Friday that I'm temporarily laid off from work because of the raised tariffs.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  34. #720
    Quote Originally Posted by Anti Globalist View Post
    Well I just found out Friday that I'm temporarily laid off from work because of the raised tariffs.
    Great news! Getcha some of those free unemployment greenbacks and steak dinner food stamps and take a well deserved break. Follow that passion for your hobby of choice. Spend time with family. Post more on RPF's!



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