Skip to comments.Trump 'likely' to announce new China tariffs as early as Monday
Posted on 09/16/2018 6:00:25 AM PDT by cba123
WASHINGTON (Reuters) - U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters on Saturday.
The tariff level will probably be about 10 percent, the Wall Street Journal reported, quoting people familiar with the matter. This is below the 25 percent the administration said it was considering for this possible round of tariffs.
Please see full article at the link.
(Excerpt) Read more at google.com.vn ...
I suppose we will see soon.
I dislike announcements of announcements. Just do it.
Another tariff post from the fake American.
Over the past year the Shanghai Composite Index is down 20%.
The Chinese are playing a weak hand.
The 10% would cover the devaluation of the Yuan and its equivalent to most countries VAT. Its a good start. I prefer the steel and aluminum method that set quotas to keep these industries viable. We should do the same with electronics and much more. Every country does this one way or the other. Our Founders were cognizant the British turned our country into a raw material slave Plantation and we needed to build things. In many ways we are the opposite now. Just a place for planned economies to undercut and dump into our market and the fact we are 20 trillion in debt doesnt register with the globalist crowd...they offer no solutions, only platitudes from long discredited economic theories of a time that never existed.
“The 10% would cover the devaluation of the Yuan and its equivalent to most countries VAT. Its a good start.”
...a good start. It is just another step in the right direction.
In my view, it is like changing the course of a supertanker... bit by bit, because there is too much in motion to turn on a dime.
The Trump Administration has been taking major steps to correct the trade imbalance and restore our economy since taking office (tax cuts, deregulation, NAFTA, TPP, diplomacy). We have just gotten to the stage where the real long levers are being applied.
Even when you are in a hurry, it will take a few years to move a factory operation. President Trump called industry leaders in to the White House in January 2017 and gave them the heads up.
A lot of companies have been preparing their moves since - analyzing sites, buying real estate, planning facilities. Expansion of existing facilities has already occurred, and US manufacturing jobs have already started trending up, reversing a decades-long decline. Foxconn, famous for its huge assembly plants producing iphones and other electronics, has an emergency team working its relocation, as the company’s top priority.
Many companies are wired in with officials of Chinese Communist Party though, or fear crossing them. Many don’t believe that the competitive situation will really change. Many won’t bear the expense of a move, unless they really have too. Those individuals and firms (the bulk of the supply chain in China) will have to be forced to change, by the sheer math of their business calculations. That is what is being put in place now. Every quarter will get worse and worse.
Early next year, the 10% across the board tariff will likely be in place. Financially, 10% is basically a strong nudge, which could be adapted to by Chinese policies - favors to companies, currency depreciation, etc.. But, it will convince most that the tariff threat is very real, and that a bigger storm could be coming. They will be primed to stampede. They will hear of, and see, others making the move, including bigger players.
A second round of raising the tariffs to 20% would likely be decisive - manufacturing export party over for China, wrenching dislocations, financial crisis, and lots of explaining to do to the population politically.
What I believe should happen is that the whole supply chain needs to be shifted out of china.
The Chinese have been very successful with their current strategies. They will not change at all. No amount of tarriffs would force them to stop stealing american ip. the freebies are just too sweet.
I heard from someone here one time, I was the first FReeper who supported Trump.
I don’t know if that is actually the case, but I also supported Sarah Palin even before whatsizname selected her as his running mate.
And yes I voted for him. One of 10,000 or so voters in my state, to win it for Trump.
I am proudly American.
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