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Keyword: tariffs

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  • Could China’s Next Target Be the U.S. Housing Market?

    07/18/2018 8:16:29 AM PDT · by SeekAndFind · 19 replies
    Barron's ^ | 07/18/2018 | By Randall W. Forsyth
    There’s a flip side to the U.S. trade deficit that President Donald Trump rails against—the flow of capital from abroad that covers that gap. It leaves the U.S. vulnerable to other kinds of retaliation. As the world’s biggest debtor, the U.S. depends on investors abroad to continue to invest in America. And among the biggest investors is the country that Trump is targeting for its big bilateral surplus with the U.S. and its alleged unfair trade practices: China. As the largest holder of U.S. Treasury securities, China helps fund both legs of the so-called twin deficits—the budget shortfall as well...
  • Prof. Walter Williams: Shooting Ourselves in the Foot -- Here's a Better Alternative to Tariffs

    07/17/2018 7:50:43 AM PDT · by SeekAndFind · 45 replies
    Frontpage Mag ^ | 07/17/2018 | Walter Williams
    The Canadian government, lining the pockets of its dairy producers, imposes high tariffs on American dairy imports. That forces Canadians to pay higher prices for dairy products. For example, Canadians pay $5.24 for a 10.5-ounce block of cheddar. In Washington, D.C., that same amount of cheddar sells for $3.64. Canadians pay $3.99 for a 1-pound container of yogurt. In Washington, D.C., you can get nearly twice as much yogurt for a little over $4. It's clear that the Canadian government's tariffs screw its citizens by forcing them to pay higher prices for dairy products. What should the U.S. response be...
  • China’s economic growth cools amid trade tensions

    07/15/2018 9:10:45 PM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Jul. 15, 2018 10:43 PM EDT | Joe McDonald
    China’s economic growth slowed in the quarter ending in June, adding to challenges for Beijing amid a mounting tariff battle with Washington. The world’s second-largest economy expanded by 6.7 percent, down from the previous quarter’s 6.8 percent, the government reported Monday. Even before the dispute with Washington erupted, forecasters expected growth to cool after Beijing started tightening controls on bank lending last year to rein in surging debt. Economic activity is expected to decline further as global demand for Chinese exports weakens and lending controls weigh on construction and investment, major contributors to growth. Beijing has responded to previous downturns...
  • Cramer: I think Trump is winning the China trade war, and the US stock market backs me up

    07/13/2018 9:05:22 AM PDT · by 11th_VA · 20 replies
    CNBC ^ | July 13, 2018 | Matthew J. Belvedere
    President Donald Trump is beating China in a trade war that could soon escalate, CNBC’s Jim Cramer said on Friday. “I think we're winning," the "Mad Money" host argued. "The market is saying we're winning.” On Tuesday, the White House released a list of 10 percent tariffs on $200 billion in Chinese goods, following through on Trump’s threat of additional punitive measures. Tariffs of that magnitude, which now undergo a two-month review, would basically equal all the goods the U.S. imports from China, which promised retaliatory action and pledged to lodge a complaint with the World Trade Organization. Cramer said...
  • China: US ‘selfish’ about intellectual property rights

    07/13/2018 6:48:23 PM PDT · by ameribbean expat · 43 replies
    President Trump’s administration has a “selfish” attitude toward intellectual property rights, a Chinese diplomat said Friday amid the White House's crackdown on IP theft. “No one has the monopoly over the application of IPR to promote social and economic development,” Chinese Foreign Ministry spokeswoman Hua Chunying told reporters. “Innovation and IPR shall be harnessed for the progress and benefit of all mankind, instead of being reduced to a tool used by the U.S. to suppress others' development and serve its selfish interests.”
  • Dust Bowl Economics: Trump wants taxpayers to bail out farmers hurt by his trade war.

    07/12/2018 4:59:13 AM PDT · by reaganaut1 · 155 replies
    Wall Street Journal ^ | July 11, 2018
    When pork prices collapsed amid a global trade war during the Great Depression, the Roosevelt Administration in 1933 had an idea—slaughter six million piglets. Put a floor under prices by destroying supply. It didn’t work. Now the Trump Administration may try its own version of Depressionomics by using the Commodity Credit Corporation (CCC) to support crop prices walloped by the Trump tariffs: Hurt farmers and then put them on the government dole. How about not hurting them in the first place? That’s the question as Mr. Trump escalates his trade war, on Wednesday proposing 10% tariffs on $200 billion in...
  • Mercedes-Benz Vans vendor to create 180 jobs in Charleston County (South Carolina)

    07/11/2018 11:59:04 PM PDT · by 2ndDivisionVet · 13 replies
    The Post and Courier ^ | July 11, 2018 | John McDermott
    A global transportation company that handles incoming parts and finished goods for other businesses is expanding to the Charleston region to support the Mercedes-Benz Van plant. Logistics giant Kuehne + Nagel Inc. said it plans to create 180 jobs over the next three years at its new Palmetto Commerce Park operation in North Charleston. Hiring for the positions is already underway. The firm is setting up shop on the expanding Mercedes-Benz campus, between Ashley Phosphate and Ladson roads. Its services will include taking deliveries, managing inventory and transporting parts to the Sprinter plant assembly line as needed on a "just-in-time"...
  • Senate takes symbolic shot at Trump tariffs

    07/12/2018 12:17:43 AM PDT · by granada · 24 replies
    the Hill ^ | 11/07/18 | JORDAIN CARNEY
    The Senate on Wednesday took a symbolic shot at President Trump’s trade policy amid anxiety on Capitol Hill over his tariff strategy. Senators voted 88-11 to instruct lawmakers hashing out a deal on a government funding bill to include language “providing a role for Congress” on tariffs implemented for national security reasons, known as Section 232 of the trade laws. The vote is nonbinding, meaning lawmakers don’t have to add trade language into the funding bill. But the vote margin, with more senators supporting it than the amount needed to override a veto, underscores the depth of concern on Capitol...
  • US pork and beef out of Chinese market(Shanghai news report-English)

    07/11/2018 7:52:14 PM PDT · by Rebelbase · 35 replies
    Liveleak ^ | 7/11/18 | Shanghai news
    English language news report from Shanghai TV talking about American Beef and Pork being pulled from the menu and substituted with Beef from Australia. Watch to the end of the report as it looks like the tariffs might crash the pig head market. Video here.
  • China 'shocked' by $200 billion tariffs (Youtube of CNBC clip)

    07/11/2018 5:15:03 PM PDT · by cba123 · 32 replies
    Youtube / CNBC ^ | June 11, 2018 | Eunice Yoon
    This is a video clip. From CNBC. With yet more whining from China, about our great president. :D Donald is turning into a great, great, president. Best ever.
  • Trump ramps up China trade war with new tariffs on $200 billion in products

    07/10/2018 5:41:31 PM PDT · by cba123 · 110 replies
    Dallas News ^ | 7/10/2018
    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. (please see full article at the link)
  • What the Tariff Battle Means for Auto Plants in South Carolina

    07/10/2018 6:33:11 AM PDT · by reaganaut1 · 35 replies
    Wall Street Journal ^ | July 10, 2018 | William Boston
    BERLIN—President Donald Trump’s trade battle with China is threatening the U.S.’s growing role as an auto exporter. In recent years, BMW AG BMW, Daimler AG DMLRY and China’s Zhejiang Geely Holding’s Volvo Cars have invested billions to expand U.S. factory production with the goal of exporting a significant number of vehicles to China and other markets world-wide. But the tit-for-tat tariffs on U.S.-China trade could prompt the manufacturers to rethink that strategy. On Friday, China raised to 40% its tariff on auto imports from the U.S. as part of a broader retaliation against the Trump administration’s move to impose duties...
  • U.S. Exporters Will Be a Surprise Loser From Tariff Fight

    07/09/2018 6:24:08 AM PDT · by reaganaut1 · 59 replies
    Wall Street Journal ^ | July 9, 2018 | Greg Ip
    Who’s the biggest loser when tariffs are imposed on imports? The surprising answer: exporters. Though completely counterintuitive, theory and evidence show that taxes on imports act just like a tax on exports. Though it’s early, the Trump administration’s recent round of tariffs is already rippling out to exporters: Soybean farmers face plunging prices as China raises tariffs, Harley-Davidson will move production of motorcycles destined for the European Union out of the U.S., and BMW says foreign retaliation may hit exports from its South Carolina plant. Economists credit Abba Lerner, then a graduate student at the London School of Economics, for...
  • France says Europe united against U.S. tariffs as Germany eyes negotiation

    07/08/2018 5:42:59 PM PDT · by Olog-hai · 37 replies
    Reuters ^ | July 8, 2018 6:41 AM | Leigh Thomas, Pascale Denis
    The French government insisted on Sunday that Washington should expect united retaliation from Europe to further tariff increases after Germany signaled it was prepared to negotiate. With Germany’s powerful car industry facing the threat of higher U.S. duties, Chancellor Angela Merkel said last Thursday she would back a lowering of European Union levies on imports of U.S. cars. “If tomorrow there is an increase in tariffs, like in the car industry, our reaction should be united and strong to show that Europe is a united and sovereign power,” French Finance Minister Bruno Le Maire said. “The question is no longer...
  • Shock: Wages and Jobs Soar at American Businesses ‘Hit’ by Metals Tariffs

    07/07/2018 4:24:08 AM PDT · by GonzoII · 34 replies
    Breitbart ^ | July 6, 2018 | John Carney
    When President Trump on the first day of March said that the U.S. would impose a 25 percent tariff on imported steel and a ten percent tariff on imported aluminum, many economists predicted that this spelled trouble for the industries that rely on steel and aluminum for their products. The Trump administration postponed imposing the tariffs on Canada, the European Union, and Mexico until June 1, saying it wanted more time to try to negotiate agreements that might have allowed these countries to win exemptions from the tariffs. But none of those trading partners reached a deal with the U.S....
  • China eyes expanded business ties with Eastern Europe amid EU concerns

    07/06/2018 7:45:31 PM PDT · by Olog-hai · 2 replies
    Reuters ^ | July 6, 2018 9:37 PM | Tsvetelia Tsolova
    Chinese Premier Li Keqiang will offer the leaders of central and eastern Europe on Saturday expanded business ties at a summit in Sofia while seeking to reassure the EU that Beijing is not trying to divide the continent. Li, whose attendance at the seventh such “16+1” summit coincides with an escalating trade war between China and the United States, will also try to dispel growing doubts among some participants about the value of the annual meetings. China has promised billions for development projects in the region as part of its Belt and Road strategy to carve out new export markets,...
  • Is President Trump already winning the trade war with China?

    07/06/2018 9:26:25 AM PDT · by gattaca · 21 replies
    CBS Money Watch ^ | July 6, 2018 | ANTHONY MIRHAYDARI
    After months of threats and gamesmanship, President Trump's tariffs on $34 billion worth of Chinese industrial imports took effect a minute after midnight Friday. It's the latest in a line of protectionism aimed at the U.S. trade deficit with China, which totaled nearly $600 billion in 2017, and includes tariffs on imports of steel and aluminum as well as items like washing machines and solar panels. And much more has been threatened. Mr. Trump said on Thursday that another $16 billion worth of tariffs against China are coming in two weeks -- and U.S. total alone could reach $550 billion...
  • Car tariffs (vanity)

    07/06/2018 8:23:06 AM PDT · by Leaning Right · 26 replies
    me
    I looked it up. The EU puts a 10% tariff on American cars. The United States puts a 2.5% tariff on EU cars. In what universe is that fair? Trump should address the nation, and hold up a poster with that data on it. People would come over to his side hugely. Why doesn't he do that? (And no, tweets don't count. The average American voter doesn't read political tweets.)
  • In response to Trump tariff threat, Merkel now backs tariff reduction on US vehicle exports

    07/06/2018 7:57:56 AM PDT · by SeekAndFind · 33 replies
    American Thinker ^ | 07/06/2018 | Thomas Lifson
    Much to the shock of liberals, being tough on trade works better for American exports than being nice and hoping other nations will be “fair” to us in return. That works in kindergarten where a teacher is present to enforce the triumph of being nice. But in the real world, where politicians respond to domestic interests, it takes more than flowery rhetoric to get action. When President Trump threatened to slap heavy tariffs on European auto exports to the US unless they brought their tariffs down to equal our tariffs on them, he was lectured that this was “no...
  • Shots fired as U.S.-China tariffs take effect in deepening trade row

    07/05/2018 11:13:28 PM PDT · by cba123 · 54 replies
    Reuters / Yahoo ^ | one hour ago | Reuters By Michael Martina and David Lawder
    BEIJING/WASHINGTON (Reuters) - U.S. tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world's two biggest economies took a high-stakes turn toward all-out trade conflict. China's commerce ministry said in a statement shortly after the deadline passed that it was forced to retaliate, meaning $34 billion worth of imported U.S. goods including autos and agricultural products also faced 25 percent tariffs. "China promised to not fire the first shot, but to defend national core interests and the interests of the people it has...