Posted on 08/01/2019 12:28:27 PM PDT by SeekAndFind
After the talks, the US said it wanted further negotiations to result in “an enforceable trade deal”.
...
China wants a deal that isn’t legally binding.
They want to cheat like they always have.
EXCELLENT!
Now we need to keep raising the tariffs in phases and apply them to the other trade cheats. (Trump has already begun to do that)
“If you don’t shoot one of them every now and then, your men will never respect you.”
Black Beard the pirate
The Chinese government spokeswoman: “I’ve read Trump’s threating tweets. Haha, how interesting.”
Mr. President, Xi is not your friend. Nor is he anyone’s friend.
China is telling the western “barbarian” what he thinks the dumb barbarian wants to hear while he quietly views him with disdain just as they have for millennia.
Over 500 years ago when Europeans first had regular contact with China, they brought western inventions that were part of the European Renaissance of science, technology, and medicine. The Chinese had no equivalents and yet they considered these gifts “tributes.” They Chinese leadership arrogantly rejected even looking at them and didn’t want the Europeans teaching them anything because they thought they had all the knowledge worth knowing. The Europeans noted what we call today a monstrous superiority complex.
It seems not much has changed.
I hope that you are right, the Chinese seem to be able to weather anything the President throws at them.
We may need a 50% rate across the board before they feel it.
Good.
The next step will be 10% for ALL Chinese exports to the US.
Then 25% and on and on.
It’s not the Anglosphere use of “My Friend”. Trump is using it (in this case) as many Arab traders (and others) do; anyone that comes in the door is “my friend” - even while the guy saying “my friend” sells them a lame camel with no teeth and ulcerating wounds.
The problem is that many or most are no longer made in the USA or are tooled to do so, and due to over-regulation, overhead and higher wages, cannot be made here for anything close to what Chinese products cost even with 25% tariffs.
And China also has lower production costs and more advanced production capabilities than other developing manufacturing industries.
In jut one city, Shenzhen, China, , you can get almost anything made in the city, and which is considered the epicenter of manufacturing in Asia due to the growing hub of highly accessible manufacturers and service providers. - https://www.sourcify.com/everything-you-need-to-know-about-manufacturing-in-china/
“The White House keeps asking why we can’t do what Huawei does, and how long it would take for us to be able to do so,” said one US telecoms executive. “They don’t seem to understand — we gave that capability up a long time ago.”
Huawei is the world’s biggest telecoms equipment maker, with a 28 per cent market share — according to Dell’Oro, the market research company — and more 5G contracts around the world than any other company. Its closest rivals are Ericsson and Nokia, the European companies. But there is no US group that can build the equipment to transfer signals between mobile phones and the towers or sites that make up the network. " - https://www.ft.com/content/18d3823a-65f2-11e9-9adc-98bf1d35a056
Explore all $506 billion in goods that the US imported from China in 2017 By David YanofskyMarch 22, 2018
For all the hints of a new cold war with China, Kennedy said, U.S. warfighting capabilities are to a large extent in the hands of the one country that has come to be seen by U.S. national security officials as a peer competitor and a strategic rival. “Rare earths are actually a hegemonic trigger. If the United States gets into a conflict, China is supplying the majority of the upscale weapons,” he said. “China can determine the outcome of the conflict, and that could result in a hegemonic shift.” - https://foreignpolicy.com/2019/06/11/how-china-could-shut-down-americas-defenses-rare-earth/
Now if just one state on either ocean could secede, and did away with minimum wages and the over regulation that liberal control practices, and could lower property taxes etc, then its could begin to provide a real alternative to made in China products, but China has a massive head start. And the US would punish such a state.
I understand what you’re saying, including China cornering control of rare earths. That’s one of the reasons to go to the moon and get us some. (China’s trying to do that already over on the dark side).
You mentioned more expensive electronics and equipment. What is it now? A thousand $$ for an ipad? People at an income level to afford $2,000 Nikes to begin with are still going to buy them. No tears for status seekers here. More expensive farm tractors? Equipment costs are depreciated over 5 years - Uncle Sam allows that deduction, same as higher electric or lease rates are deducted? The taxman absorbs that cost. The tariffs will add $200 to the price of a $35K auto? What’s to get twisted about? The arguments against tariffs are most just strawmen.
Back in 1996, numerous nations signed onto the WTO Agreement (below) that limited tariffs on IT-related products. China was at 30% at the time, importing more than they exported. Now they just steal the technology, which is a sort of huge, silent tariff, and export more than they import. That is, tariffs haven’t hurt China’s economy one wit.
https://www.wto.org/english/tratop_e/inftec_e/itaintro_e.htm
Tariffs are not an exclusive item between China and the US. As a purely random example, here’s a rundown on Japan’s latest complaint of India tariffs which are in excess of 20%. Tariffs and economic competition among nations aren’t breaking news. :
At an average 25% increase in price of Chinese product, the consumer is going to look harder at cheaply produced products meant for a throw-away culture. (and that allows me to sneak in a cheeky little strawman that the tariffs are actually environmentally conscious). There are over a hundred countries that buy almost no American or Chinese product but they still manage to chug along and produce some of the exact same products China does. American manufacturing falls into its own trap settling for a single-source producer: a country that subsidizes the income of their entire (slave-labor) manufacturing force, and, heavily subsidizes the shipping costs of those items.
A guy who manufactures pillows and sells them for $60 each can compete successfully in America against $8 Walmart Chinese pillows. We may chose to leave the t-shirt and pajama factories of the past to India or Laos. But advances in automation, technology, and good old American ingenuity and perseverance are now opening doors in literally dozens of developing countries whose citizens are starting to enjoy disposable income for the first time. Hitting back at China’s quest for world market monopoly is actually broading our multi-national trade horizons. And speaking from a sales and growth perspective, that’s a very good thing for America.
We should not be sourcing any military production outside the United States...period. Any government purchase should be made from US production whether it be steel for road work or tracks for our armor to circuit boards for our jets and missiles.
Wow, a whole $30B in a year’s time. I think this will collapse our economy. /SARCASM
Then 25% and on and on.
This is 10% on the last of imports not already taxed. So all of our imports from China are taxed. The rest have tariffs higher than 10%
What if China just buys factories in other countries and ships their partially finished goods to Vietnam and elsewhere, so they only appear to NOT be made in China? Money is fungible and profits could still benefit the Chinese businessmen...
“What if China just buys factories in other countries and ships their partially finished goods to Vietnam and elsewhere”
Two separate issues.
1. Chinese-owned factories in third party countries. Bottom line is that is allowed. Chinese businessmen have been doing that for some time already, especially as Chinese labor costs rose. The real low wage jobs were off-shored from China to Ethiopia, Myanmar and elsewhere. Many Chinese businessmen also wanted to be free from the corrupt shakedowns from the Party Princelings, who take fat equity cuts for little real value - just a protection racket. But little of what gets exported to the US is from such factories, and China gets much less benefit from them.
2. Trans-shipment and percentage of content. This was a big consideration in the trade deals the Trump Administration renegotiated with all our other major trading partners (an unprecedented level of trade deal re-negotiation). A major emphasis was on closing such back doors to Chinese exports, to prepare for the use of tariffs.
The Administration also made epic trade war preparations with the tax reform of 2017, and the massive de-regulation effort - those made us much more competitive to pick up more of the business, before tariffs blast it out of China.
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