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Thread: Trade War Update: China Trade Unfazed By Trump Tariffs

  1. #1

    Trade War Update: China Trade Unfazed By Trump Tariffs

    https://www.forbes.com/sites/kenrapo.../#3c052fc56a6b

    Part is companies trying to get orders in before the next possible round of tariffs go into effect. China is also liking tariffs for another reason. Their 2025 Initiative is China wanting to become less reliant on imports- both in goods and in raw materials to make them as well as becoming less reliant on foreign sales to spur their economy. The tariff war is helping them move towards this more quickly than originally planned. They need the US less than Trump thinks they do.

    So far, China trade to the U.S. knows no bounds. In fact, the U.S. is faced with a record deficit with the Chinese. Companies, meanwhile, are shipping back and forth like crazy to avoid tariff lock-in dates, and the U.S. economy is so hot that even the #resistance at The New York Times admitted it this week that there were at least three reasons for optimism.

    The Trump vs Xi Jinping trade war has not harmed Chinaís trade economy, based on recent trade data for August and the first week of September. Total trade activity climbed 12.9% on an annual basis in August in yuan terms, up from 12.5% in July. That marked the 22nd month of growth, Panjiva research analysts said this week.

    This is not because of a weaker yuan.

    In dollar terms, total trade grew 14.3% including an export expansion of 9.8% which beat market expectations of 7.8%, according to S&P Global Market Intelligence.

    At the product level, semiconductors continued to be the main engine of growth, though the 15.8% expansion was slower than the 29.0% seen in the prior three quarters. Basic consumer products were weaker with apparel exports up 1.0% and footwear down 1.5%. Toys from China have started to recover, up 3.8% after a slow start to the peak shipping season for the Christmas holiday now just three months away.

    U.S. tariffs also had a mixed effect on steel and aluminum exports. Both were significantly higher at 10% for steel and 32% for aluminum despite duties applied earlier in the year. Not all of that came from China.
    More at link.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.



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  3. #2
    Yawn.

    China and her bought mouthpieces are trying to run a bluff, it won't work.
    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

  4. #3
    https://www.reuters.com/article/us-u...-idUSKCN1LW0NS

    China may reject new trade talks if more tariffs imposed: WSJ

    WASHINGTON (Reuters) - The Chinese government may decline to participate in proposed trade talks with the United States later this month if the Trump administration moves forward with additional tariffs on imported Chinese goods, the Wall Street Journal reported on Sunday, citing Chinese officials.

    The U.S. had proposed the talks, but at the same time moved forward with planning additional tariffs on some $200 billion of Chinese products, the Journal reported.

    The report quoted one senior Chinese official saying the country would not negotiate “with a gun pointed to its head.”

    Other officials who advise the country’s leaders are suggesting China impose limits on the sale of parts and supplies needed by U.S. businesses, using “export restraints” to threaten their supply chains.

    Fresh trade talks had been proposed by Treasury Secretary Steven Mnuchin to begin around Sept. 20.

    Though China had begun discussing plans to attend, but began rethinking whether to attend because of the possibility new tariffs may be announced this week.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    "China has total respect for Donald Trump and for Donald Trump's very, very large brain," - Donald Trump.

    I am Zippy and I approve of this post. But you don't have to.



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