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


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Well, at least a trade war with China makes more sense than one with Canada. 

 

Wish I could be confident that we can WIN a trade war with China.  But I agree that they deserve one. 

 

(Also wonder if we'd have been on stronger ground from which to fight a trade war with China, if the ****up in Chief hadn't decided to blow up the TPP simply because Obama touched it). 

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18 minutes ago, Larry said:

Possibly a dumb question:  

 

Would 10% tariffs on $200B worth of goods produce $20B in deficit reduction?  At least on a simplistic, "ignore all secondary effects" analysis?  

 

 

 

Yes, but the secondary effects are going to kill you because $200 billion worth of goods aren't going to be sold.  If you could put on a 10% tariff and actually sell $200 B worth still that would work well.

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http://cepr.net/blogs/beat-the-press/nyt-is-badly-mistaken-china-has-many-many-options-in-trade-war-with-trump

 

"The NYT erred badly with an article that told readers, "China Once Looked Tough on Trade: Now Its Options Are Dwindling." The article claims that China is running out of ways to retaliate against Trump's tariffs because it imports so much less from the United States than the United States imports from China. In fact, China has many other ways to retaliate.

 

The most effective would probably be to stop paying attention to patent and copyright claims of U.S. corporations. It can encourage domestic Chinese companies to make millions of copies of Windows based computers, without paying a penny to Microsoft. It can do the same with iPhones and Apple. In fact, it can encourage Chinese companies to export these unauthorized copies all over the world, destroying Microsoft and Apple's markets in third countries."

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