A lot of pearl clutching and vapors over at FN this morning.
Real serious looking analists saying the trade war is going to kill us all.
Yes
I hope the Chinese stop taking USA pork ( Smithfield is owned by the Chinese) Should help Bacon prices in the USA. The bulk Bacon I like at the local Stator Bros Market used to be $3.99 lb, less on Sale. Now $5.99 is the normal price with the rare sale down to $4.99. initially the price increases was blamed on the the virus which was killing piglets about five years back. The price never came back down. More supply should help that.
patience will be paramount. we will need a few months to a few years to get our local industries back up and running at speed. of course, the America last’ers will be screaming at the top of their lungs trying to get the President to lose his nerve until that happens.
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I love this part ==> “Another wrinkle to the China trade war story is a Reuters report that the European Union flatly rejected a proposal by Beijing to form a strategic alliance to take on the U.S. on trade.”
No one is China’s friend on trade. Every country knows China is out to beat them.
Heard on TV to expect MANY countries to now put up barriers to imports from China. Reasoning is that China’s exporters will now try to send their goods to other countries since the US has tariffs against them.
That is already happening with regards to steel. Canada and the EU are creating barriers to Chinese steel that is now block from the US market.
He is fighting for fair trade. My prediction is the USA becomes an island with a juggernaut economy in a world sinking further into recession.