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


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On 4/4/2018 at 2:10 PM, visionary said:
 

 

 

Ugh, Trump is terrible at this.  He's just picking random stuff for no rhyme or reason, while the Chinese are strategically implementing what was probably an issue they've long studied.  Basically, Trump is playing checkers and China is playing chess.  We are going to lose a stupid trade war to China because our leadership is stupid.  

 

Checkers may actually be too complex.  Trump is mashing the handle of a Hungry Hungry Hippo.

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5 hours ago, PleaseBlitz said:

Checkers may actually be too complex.  Trump is mashing the handle of a Hungry Hungry Hippo.

Trump is slamming a rubber hammer on a plastic tic-tac-toe mat while China is playing Go.

 

We're ****ed.

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What I’m hearing: There wasn’t one single deliberative meeting in which senior officials sat down to debate the pros and cons of this historic threat. Trump didn’t even ask for advice from his new top economic adviser, Larry Kudlow, instead presenting the tariffs as a fait accompli. Chief of Staff John Kelly knew Trump wanted more tariffs but was blindsided by the speed of the announcement. And Legislative Affairs Director Marc Short — the White House’s liaison to Capitol Hill — was totally in the dark.

To be sure, the president wasn’t completely freelancing. The topic came up at the senior staff meeting the morning of the announcement. And he personally ordered Treasury Secretary Steven Mnuchin to put together the threat and to get it done by Thursday. Trump said he had to protect American farmers, whom the Chinese were threatening with billions in tariffs.

But for some White House officials, the moment was jarring: Trump had melted down Capitol Hill and roiled the markets with zero substantive internal debate.

:kickcan:

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2 minutes ago, FanboyOf91 said:
 

 

Yeah, a few months ago, we could have been the biggest partner in the creation of a free trade zone encompassing 40% of the world's trade, and excluding China.  

 

But, you know, Obama touched it.  

 

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So what will happen is...

China will lift a handful of restrictions on heavy manufacturing imports, and maybe agree to open a washing machine factory somewhere in Ohio or PA...and then continue to subsidize and protect hi-tech industries - giving Trump his win for rednecks while US tech advantage continues to erode, perhaps irrevocably.

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For its part, the Trump administration worries that the partnership will become a zero-tariff backdoor for Chinese goods into the American market. It worries that companies that have moved much of their supply chains to China could make components there, ship them to a member of the T.P.P. for assembly, then sell them in the United States tariff-free. It wants to toughen requirements for how much of the product is made within the T.P.P. country, which could make the goods less competitive.

Their worries focus largely on Vietnam, a member of the current version of the T.P.P. It has a large population, and a few big American companies, like Intel, have already invested heavily in setting up factories there that make products practically from scratch. But many other companies that are exporting goods from Vietnam rely heavily on imports from China. Vietnam’s huge garment industry, for example, relies greatly on fabric and accessories imported from China, according to garment manufacturing executives.

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China is making its own outreach efforts in the meantime. Wang Yi, its foreign minister, will travel to Tokyo on Sunday. China has played up free trade talks with Japan and with South Korea, which is not a member of the Trans-Pacific Partnership.

Sheila A. Smith, a Japan expert at the Council on Foreign Relations in Washington, said the Trump administration may have realized that it does not have the leverage it thought to renegotiate a new trade deal with Japan, and that embracing the regional pact may be the best fallback.

Won't be in time for the 2018 soybean crop and elections at the very least.

:table2:

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