No Excuses

ThinkProgress: Trump confidant dumped millions in steel-related stock last week (Also the Trade War thread)

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Posted (edited)

They were never going to win a trade war against China unless Europe and most developing Asian countries were brought onboard to isolate it further. 

 

The way to defeat China was global isolation through vehicles like the TPP. China has expanded its global reach at the same time as we have tried this bungling mess of a trade war. 

 

At this point, it’s far more likely that we will cave on some really big issues (like technology) to end this. China has all the incentive in the world to push their boots on our necks as we face a national election next year.

 

The really bad part of this is that TPP and other forms of isolation would have really put China in a bad spot right now. The world is paying attention to what is happening in Xinjiang and Hong Kong. China’s global image is suffering and it could have been a lot worse if they were facing global isolation. 

Edited by No Excuses
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Yeah, let's get rid of the free trade zone that includes 40% of the world's GDP, and excludes China.  A spastic array of reflex tariffs announced by tweet is the key to Winning.  

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Just now, visionary said:

Market manipulator.

 

Who really really wants to be a currency manipulator, too.  

 

(And I'll just file the idea that the GOP isn't going ape **** over Trump casually mentioning that he'd really like his staff to weaken the dollar, next to them not saying a word about him attacking NATO, or suggesting we default on the national debt.)  

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Also admiring the logic.  

 

"I insist that my tariffs have no effect on Americans whatsoever, and are paid entirely by China.  Therefore I'm delaying implementing them till after the black Friday sales."  

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Here’s What New Tariffs Will Cost the Average American Household

 

The average American household will be down $1,000 per year thanks to the newest round of tariffs on Chinese goods, according to J.P. Morgan.

 

The firm estimates the average annual tariff cost per household will increase from $600 from the first two rounds of tariffs. The new tariffs are scheduled to begin Sept. 1 and in mid-December.

 

“What distinguishes China Phase III tariffs from preceding tariffs is the impact to Consumption and Capital goods whereas previous tariffs focused more on Intermediate goods,” J.P. Morgan head of U.S. equity strategy Dubravko Lakos-Bujas said in a note to clients. “This suggests that the expected consumer impact should be larger in the latest round.”

 

President Donald Trump surprised investors earlier this month by ending a tariff ceasefire with China and announcing new tariffs of 10% on the remaining $300 billion in Chinese imports, starting next month. He later delayed some of the tariffs until Dec. 15. This third tranche of duties affect consumer goods more than the previous levies did.

 

Click on the link for the full article

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That'll teach him to ask whether China or the Fed were bigger enemies.  

 

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"How can we fix this?"

 

"Sir, I recommend we keep doing what we're already doing, only more!"

 

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I'm certain that an escalation of the trade war will make things better. 

 

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Relax, Donald's gotta it all figured out. Everything he touches turn to gold. #STABLEGENIUS

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16 hours ago, Cooked Crack said:

 

 

 

Changes like this in supply chains are likely permanent, meaning that even after Trump, most businesses won’t recover. 

 

People who vote for him again in 2020 really are a special bunch of cortically damaged numpties.

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30 minutes ago, Riggo-toni said:

When did Ed Asner become secretary of agriculture?

 

When Eddie Albert quit.  

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