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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.
I don't know about the rest of /. but my wages have not kept pace with inflation. Cheap foreign goods has been the only thing that's kept my head above water. Now, you can argue that my wages will start climbing as a result of this, but a) that's not going to happen right away and in the meantime it means big inflation I can ill afford and b) it's not likely to happen since even if the factories come back they're likely to be modern factories heavy on automation, meaning few jobs.
Tariffs are good at protecting an existing business, but you have to have a business to protect for a tariff to work. The US has manufacturing and we were already doing a good job of protecting it. We've doubled out manufacturing output in the last 40 years (while cutting the workforce by 1/3 due to automation, I might add). Broad tariffs at this point are just closing the barn door after the cows got out.
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So much economic stupidity. At least he gave tax breaks to businesses and bailed out the industries he's nearly killed as he taxed the hell out of their supply chain.
"Insanity: doing the same thing over and over again and expecting different results."
Isn't it time to look at a different tool for changing the relationship between the US and China? I can't imagine this hurting anybody but the US consumer - AND I suspect that it could be a boon for other countries looking for lower cost goods for their economies.
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Trump only knows one thing: how to make threats until he gets what he wants. That childish behavior works really well against your parents and your sycophant "friends" but it's not a great strategy to use on the world stage. The previous tariffs are being blamed for the increased trade deficit this quarter and these additional tariffs will likely make that worse. It's like Trump is determined to erase any gains he can attempt to take credit for with the improved economy. Maybe the writer of the NYT op-ed can sabotage these tariffs.
And just who the ever loving fuck do you think you're going to get it from?
Trump has started trade wars with Europe, China, Canada, Mexico, Asia ... and is in the process of openly pissing off everyone. You're rapidly running out of friends.
China also has deeper pockets and cash reserves, and America is far more dependent on China than they realize. They've got a huge cash reserve of your money and treasury bills.
Tell you what, America can stop it's farm subsidies and stop bitching about similar subsidies other countries have. What's that? No? Then you don't want free trade either.
So here's a little reality check for you ... the rest of the world is losing patience with your President, and losing any feelings of friendship towards the US. We can no longer separate your asshole president from your idiot citizens who parrot the dumb shit he says.
So, please, by all means, piss off your friends and allies. Just don't go stomping around blustering about how we have to listen to you or give a fuck your your interests.
Because we're all fine with buying less shit from America or giving a fuck about what Trump thinks.
Trump's not going to do shit about China. They're laughing at him and they know all they've got to do is wait now. It won't be long.
Plus, any further tariffs will be written on one of those pieces of paper his staff has been snatching off his desk to keep him from fucking up completely.
People who can read minds and predict the future belong on late night cable TV shows, 900 number call-ins on billboards, and newspaper horoscopes.
"Insanity: doing the same thing over and over again and expecting different results."
Isn't it time to look at a different tool for changing the relationship between the US and China? I can't imagine this hurting anybody but the US consumer - AND I suspect that it could be a boon for other countries looking for lower cost goods for their economies.
No offense, but Trump's tactics *are* the different tool.
Or would you rather go back to giving away our wealth to everyone and anyone worldwide?
If you want people to look at the government report, link to the government report, not fucking Breitbart.
If *I* want.
Not advisers, not the american people, I.
"*I* am the state"
me me me, I I I. He has all the situational awareness of a toddler.
As a potential lottery winner, I totally support tax cuts for the wealthy
This is largely bullshit. They certainly INVOKED the spectre of national defense, but the steel and aluminum tariffs are being applied on all steel and aluminum, not just stuff used for defense. And the tariffs even apply to countries like Canada, who aren't shipping sub-standard metals. If the goal was to curb dumping of low-grade metals onto the market, it's not doing its job. The number of American companies applying for exemptions from this absurd tax is orders of magnitude higher than what the government was prepared to deal with. In many cases, US companies literally can't get the steel they need from ANY American provider. How is THAT good for anyone, let alone national defense?