Posted on 09/14/2018 8:00:24 PM PDT by cba123
U.S. stocks posted a late rally to close mostly higher for a fifth consecutive day, led by gains in the financial and energy sectors. The dollar strengthened after U.S. 10-year note yields briefly climbed past 3 percent.
The S&P 500 and Dow finished just in the green after slumping midday, when Bloomberg News reported that President Donald Trump instructed aides to proceed with tariffs on about $200 billion more in Chinese products.
(please see full article, at the link)
(Excerpt) Read more at newsmax.com ...
We will see.
Just a reminder though. Trump has been on the subject, since before he even ran.
We currently are running the largest trade deficit in recorded history, between any two countries, ever.
With China.
Last year. And this year, it has been increasing even more, every single month.
Trump better get $25 lousy billion for the Wall he promised by September 30 or this love affair is in real trouble and will badly hurt the midterms.
He promised he would do what he could from his side.
You didn’t elect a House and Senate that agrees with him.
You are the problem.
Now I think, this would bring the amount of Chinese imports tariffed, up near 50%, after this batch of tariffs, if they go into effect.
The thing to keep in mind, is even this batch of tariffs if enacted, is not at all, all of the Chinese imports. Not even. There is another $265 billion or so, of Chinese imports without any tariffs even if this goes entirely forward.
So this would be the lowest level of tariffs, in about half of the Chinese imports.
Just to keep in mind, what this would mean. This is just another step... A lot more can be tariffed as well.
And the amount of tariffs, can be escalated for everything, to also bring additional pressure to bear.
:D
I have supported Trump on this website since before he even announced his candidacy.
I was pretty early. I bought a bunch of stuff from the local Trump campaign office, which I NEVER DO.
But I sort of agree with the poster. Trump really, really, really needs to get started on the border wall.
For real.
I completely agree.
Yeah! Let’s tax the hell out of the American consumer.
That will show those commies.
A lot of our leadership, has sold out to China.
A lot.
You are very right, even though you are trying to be smug.
Just saying...
Also higher trade deficits signal a growing economy. And Walmart has put out notices to their suppliers they should look for other manufacturing venues besides China. As this goes on, more manufacturers will start leaving China who go somewhere else.
Trump recently on twitter:
“Ford has abruptly killed a plan to sell a Chinese-made small vehicle in the U.S. because of the prospect of higher U.S. Tariffs.” CNBC. This is just the beginning. This car can now be BUILT IN THE U.S.A. and Ford will pay no tariffs!” Sept 9, 2018.
It’s now a fluid trade with the world. As Trump cuts deals with other countries like Philippines, Malaysia, Vietnam, Taiwan, et cetera, China will be the one cut short. China retaliates with$ 60 billion Trump hits $200 billion. China has a losing hand.
No, this just temporarily taxes the consumers that choose to buy Chinese. The tariffs aren't supposed to be permanent, although if China doesn't start dancing soon they may end up with a permanent competitive disadvantage they will never recover from.
Read the thread just above this. China has the surplus US Dollars to buy ports in Israel after buying ports in 4 dozen other places in foreign lands.
The easiest and best way to strange Chinese military ambitions is to tariff the heck out of their exports.
Tariffs do not tax US citizens who buy US goods.
It’s a voluntary tax. No one forces you to buy a broom anywhere, but buying locally keeps the money here.
Trump promised to drain the swamp. Now it seems like he wants to join the swamp.
Which autos don’t have any components made in China?
Which appliances don’t have any Chinese electrical parts?
The problem is that with today’s supply chains the consumer has very little visibility, and therefore very little choice as to where the elements of the products they buy come from.
Do you honestly think think there’s a car made with no Chinese inputs?
Is it tariffs on $200 billion per year in goods, or $200 billion in tariff fees?
Many news reports confuse the two.
Trump Said to Want $200 Billion in China Tariffs Despite Talks
The title should be:
Trump Said to Want Tariffs on $200 Billion of Chinese Imports Despite Talks
See the difference? A tariff on $200B of imports raises what ever the percent is of the tariff on $200B, for instance 5%. This would raise $10B in revenue and not $200B like the title implies!
We are being manipulated again.
It's a dynamic situation and not static. The tariff creates an incentive to in-source auto parts. The tariff is the only effective too to force a change in the dynamic; tariffs are good, income taxes are bad.
More tariffs please!
This is what I was referencing in post 5.
I believe the 200 billion is the total of goods, which will see a new tariff.
After this, there is still another 265 billion or so, which are next. From China, without a tariff yet.
Then, after that, the amount of tarrifs can be increased, by any amount.
So this is just a step, in the long process of bringing production back to the States (or possibly to elsewhere)
I think this is a very good thing, and needs to start immediately.
Myself.
too = tool
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