Let me start this by saying I have supported Donald Trump from the start.
I have supported him. I voted for him. I am very happy with how he is doing. He is doing a terrific job as US President.
I am not sure the author shares my views. Frankly, it seems he is posting this to be critical of Donald Trump.
Posting this myself, I am not posting this to criticize Trump.
But then again, I would like to point out, that China is currently, running the largest trade surplus, which any country, has ever inflicted on any other country.
Ever.
And it will set yet another record this year.
Again.
I am all for correcting the trade situation between our two countries. It has been far, far too long, that we have been buying FAR TOO MUCH from China.
They do not support America.
We should back the heck off, from building them up.
It is time to build up America, once again.
In my view...
Oh excuse me, this article is older than one minute, now. Here is the link:
Someone the other day mentioned that people are buying more to beat the implementation of tariffs. Sounds like it could be a reasoned explanation for the larger trade imbalance figures.
The tariffs will have the desired effect.
Can’t expect the figures to be accurate before the tariffs go into effect.
Anyone criticizing right now is scared the tariffs will work.
I wonder what kind of trade policy is going to help Christians in both China and the USA the most. And the answer might not be obvious. But it matters to what is reflected in everlasting heaven. Gospel themed goods may get people who produce it thinking about the gospel.
Quartz?
The numbers tell a different story. In September, Americans bought $34 billion more worth of Chinese goods than they sold, according to data from China published this morning. That’s the biggest monthly trade surplus the Middle Kingdom has ever run with the US.
...
Please send your complaints to the Federal Reserve, which in its zeal to cause a recession, is raising interest rates too high which is strengthening the dollar against the weaker Chinese currency.
At least with tariffs, the government will be taking in revenue that won’t be coming out of your paycheck.
I have and always will support an
“American Made” market. It took me
3 weeks to find American Made tires
for my lawnmower. Chinese made stuff
is crap. Keep the faith, it won’t be
long before America is great again.
You can’t expect a newly imposed - and only partially imposed - tariff to work right away. If Trump had slammed massive tariffs on Chinese made goods right away it would have caused chaos, companies would not have had time to set up alternative sources of supply, etc. He’s been proceeding slowly for a reason. He warned companies in the first year what was coming. He’s been gradually imposing more and more tariffs on China in steps. Companies are both looking for other suppliers (some in the US) as well as stocking up as much as they can in advance of the full implementation of higher tariffs on China. Give it time.
I think this was a bubble due to acceleration to beat the tariffs. It’s called an extinction burst.
The same thing happened to guns when Clinton blocked the import of some auto loading rifles.
Read the above and focus:
... according to data from China ...
I bought last week a black metal rotating desk caddy online and I received it two days ago.
It was in a box that showed it was imported by an American company from Canada who in turn imported it from China. It was originally manufactured in China.
Note that NAFTA was scrapped and Canada just recently in the last two weeks signed a new trade agreement with the USA and note that this new trade agreement allows the USA to cut off any goods from Canada that were manufactured outside of Canada.
The Chinese saw it coming.
What would they be expected to do?
What happened when Mexico found out the USA was serious about border enforcement?
Illegals rushed across the border. The news media reported the largest swarms of illegals crossing the border ever.
China is rushing the border with their goods through Canada ahead of NAFTA annihilation.
The President's plan is working.
New orders of goods from China to Canadian importers for USA buyers have crashed.
China is in hurt city.
Welcome to the Trump Era China.
And about that Chinese tendency to always want to save face?
Forgeddaboutit.
You can eat crow you lying, thieving, polluting, bastards.
It will all work out - looking at short term blips at the onset of a long-term fix will always give “wrong track” results when it involves adversaries...Trump’s in it to win and going squishy because it all doesn’t just snap into place instantly and with zero short term consequences is not a winning strategy - it’s a strategy to continue on with zero positive effects or progress.
Give it another fiscal quarter and stop being such worry wart.
The first Trump tarriff against China were imposed in January 2018 on two categories — solar panels and washing machines. On March 1 he imposed steel and aluminum tariffs globally so China was included in those tariffs. On July 6 he imposed tariffs on 800 categories of goods imported from China.
The transit time from a Chinese factory to a US distribution center using the most common water and land routes is about 30 days. Lead times for purchasing product from China runs 60 to 120 days depending on the product category.
It takes time for tariffs or any kind of economic sanctions to work. The author of the article speaks to the data for one month, September 2018. The goods received in the US in September from the 800 categories affected by the tariffs announced on July 1 were already in the pipeline in July so the September 2018 imports were not impacted by the tariffs imposed in July. Undoubtedly many importers listened to Trumps rhetoric and increased orders in the first half of 2018 in order to beat the expected tariffs, particularly retailers who place Christmas holiday season orders in the first half of the year. It is the first quarter 2019 data that will begin to give a true picture of the tariff bite.
It has been reported that in the short term the decline of the Chinese currency against the dollar has been greater than the impact of many of the tariffs imposed. The economic impact of the tariffs on US importers is zero when currency depreciation exceeds the amount of the tariff. However, the US Treasury will benefit from the tariffs collected.
It is possible some Chinese exporters will cut prices to fully or partially offset the impact of tariffs. Someone who runs a Chinese factory realizing a margin of 30-50% would have a strong incentive to reduce prices by 10-20% if faced with a choice of shutting down the factory or lowering prices to offset tariffs. In addition, factories will squeeze their raw materials suppliers downstream who also want to stay in business.
Finally, the Chinese government is notorious for subsidizing exports in order to keep factories open and people employed, or to drive competitors out of business segments they target. I worked in a targeted industry in the 1990’s. Chinese factories were receiving a 15% rebate from the Chinese government on every item exported plus zero interest 20 year loans for factory expansion. At the same time US politicians, academics, and US trade representatives were blaming excessive labor costs and inept US management for my company’s inability to compete. The truth was, without the benefit of Chinese government incentives and stolen intellectual property, my Chinese competitors would not have been competitive.
The purposeful transfer of entire industries and supply chains from the US to China has taken nearly 30 years to accomplish. We have been in a trade war for 30 years and the US has abandoned many battles without a shot fired. Trump is now fighting back. One month’s data does not indicate the battle is lost or Trump’s strategy will not work over time.
If the Chinese didn’t believe the tariffs would be effective over time, they wouldn’t be opposing them so strongly. Unfortunately too many politicians, corporate executives, journalists, and academics have an economic interest in the continued gutting of the US economy.
The pigs who have been enjoying the trough for decades are beginning to squeal loudly. That is a good sign.
Another “hockey-stick” opp for the libturd losers to exploit!