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Trump Ups Ante on China, Threatens Duties on Nearly All its Imports (reuters.com)
U.S. President Donald Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion in Chinese goods on top of $200 billion in imports now primed for levies in coming days. Reuters: The moves would sharply escalate Trump's trade war with Beijing over his demands for major changes in economic, trade and technology policy. China has threatened retaliation, which could include action against U.S. companies operating there. Hours after a public comment period closed on his $200 billion China tariff list, Trump told reporters aboard Air Force One that he was "being strong on China because I have to be."
"The $200 billion we are talking about could take place very soon depending on what happens with them. To a certain extent its going to be up to China," Trump said. "And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. That totally changes the equation." [...] The $200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 percent to 25 percent. Cell phones, the biggest U.S. import from China, have so far been spared, but would be engulfed if Trump activates the $267 billion tariff list. Further reading: Apple says Trump's China tariffs are going to hurt the company.
"The $200 billion we are talking about could take place very soon depending on what happens with them. To a certain extent its going to be up to China," Trump said. "And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. That totally changes the equation." [...] The $200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 percent to 25 percent. Cell phones, the biggest U.S. import from China, have so far been spared, but would be engulfed if Trump activates the $267 billion tariff list. Further reading: Apple says Trump's China tariffs are going to hurt the company.
Close to 8 years of easy Fed interest rates, deficit spending, and under Trump, even more deficit spending...now to the tune of $1 Trillion per year, and every year, now that he and the Republicans have paid off their cronies in industry with their tax cuts.
Basic Keyesian economics, dump that much money into the economy and there would have been something seriously wrong if the economy hadn't boomed. So enjoy it while the bill hasn't yet come due, because when it does, every one of us will suffer.
Tariff: A tax or duty to be paid on a particular class of imports or exports.
putting a tariff on the good a company imports to do business is very much taxing their supply chain.
"In America, first you get the sugar, then you get the power, then you get the women..." -H. Simpson
You need not worry. If we put a 15% tariff on them, the Chinese government will simply devalue the Yuan (as they always do) so as to maintain steady employment within China. That's the biggest fear of the CCP, mass unemployment WITHIN China.
So net change = we will be paying more in the single digit percentage points. Just remember, somebody has to buy their crap. It's just that China has more to lose by not exporting.
Life is not for the lazy.
Honest question, how many of you feel threatened by Canada? That was the excuse he used to put tariffs on Canadian imports. Canada is a national threat. Some loophole from the 1960's. Piss poor way to show everyone he doesn't want tariffs. Then he complains when Canada reciprocates.
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
My understanding is, while every president increased the debt, deficit spending was decreased during the administrations of: "Bill Clinton (reduced from 280Billion to 18 Billion)"; and "Barack Obama (reduced from 1.6T to 700 Billion; Stimulus act passed and enacted by Bush.) Let see the deficit went way up most significantly under the administrations of "Ronald Regain from 144 billion to 255 billion", "Donald Trump (700 Billion to 1.2 Trillion) Bush 43 (400 Billion to 1.6T) Bush 41 (255Billion to 347 Billion)
Carter did increase from 78 Billion to 90 Billion, pretty insignificant comparatively to the other increases.
Granted, The Democrats mostly had Republicans in charge of the house when they brought down the deficit. Reagan had democrats in the house; But the biggest increases were when we had Republican in control of both houses and the presidency.
Of course economy is a big contributor to some of those changes also.
In August, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $27.16. Over the year, average hourly earnings have increased by 77 cents, or 2.9 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $22.73 in August. (See tables B-3 and B-8.)
So, I guess unless you're a management type that inflation rate of 2.9%--the highest level since 2012--is probably going to hurt a bit. Given that this next round will effectively hit everything on the shelves of Walmart, things might get rather uncomfortable indeed for his voting base.
Two of my imaginary friends reproduced once
I assume you're referring to the $1 trillion per year that Trump is borrowing from the US citizens to 'boost' the economy.
https://eu.usatoday.com/story/...
(or did you think it's his genius policies that's doing that?)
No sig today...