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Forum » More General Categories » Religion and Politics » Trump prepares $200B of additional tariffs on China
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Thread: Trump prepares $200B of additional tariffs on China

post 1555946341 07-10-2018, 08:48 PM
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Trump prepares $200B of additional tariffs on China

https://www.theguardian.com/us-news/...hinese-imports
The Trump administration has raised the stakes in its trade war with China, saying it would slap 10% tariffs on an extra $200bn worth of Chinese imports.

The administration released a wide-ranging list of Chinese goods it proposes be hit with tariffs, including hundreds of food products as well as tobacco, coal, chemicals and tyres, dog and cat food, and consumer electronics including television components.

“For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition,” US trade representative Robert Lighthizer said in announcing the proposed tariffs on Tuesday night.

“Rather than address our legitimate concerns, China has begun to retaliate against US products ... There is no justification for such action,” he said in a statement.

Asian stocks fell in reaction to the tariffs announcement. South Korea’s KOSPI lost 1% and Japan’s Nikkei fell 1.2%. The offshore yuan fell more than 0.5% in early trade on Wednesday. Dow Jones mini futures fell as much as 1% while S&P500 e-mini futures, the world’s most liquid futures, were down 0.8%.

“The markets still remain sensitive to the trade-related theme, which is something investors have to take into account for the long term,” said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo.

Last week, Washington imposed 25% tariffs on $34bn of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of US exports to China.

Donald Trump has said he might ultimately impose tariffs on more than $500bn worth of Chinese goods – roughly the total amount of US imports from China last year.

Some US business groups and senior lawmakers sharply criticised the latest action on Tuesday, with Senate finance committee chairman Orrin Hatch, a Republican, saying it “appears reckless and is not a targeted approach”.
This will be a disaster for both sides. It's like Trump is looking for a trade war.
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post 1555947171 07-10-2018, 09:01 PM
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Originally Posted By FatalTragedy12⏩
https://www.theguardian.com/us-news/...billion-threat



This will be a disaster for both sides. It's like Trump is looking for a trade war.
If you wanna make an omelet..........




I support trump taking the tough but necessary road to good trade deals.
post 1555947331 07-10-2018, 09:03 PM
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gotta smash a bunch of eggs to make an omelette

fuk China and their cheap crap, time to get off the tit, the western hemisphere did just fine when China was a chit tier country that produced nothing of value
post 1555947391 07-10-2018, 09:05 PM
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Originally Posted By tng83⏩
If you wanna make an omelet..........




I support trump taking the tough but necessary road to good trade deals.
Trade deals come through negotiation, not through running people over like it's The Apprentice.

Also, this isn't just harming China. The story goes like this:

1. Trump imposes tariffs on $34B worth of product (in addition to previous aluminium/steel tariffs)
2. China responds by like for like tariffs on the US of $34B
3. Trump prepares tariffs on $200B against China
4. China drawing up equal punitive measures on U.S. products
5. Trump threatens to impose tariffs on $500B
6. China says go ahead and try, we are very disappointed in you

Now picture Trump has also gone to war with Canada, Mexico and the European Union. There's no way the U.S. can handle a trade war with the two biggest economies in the world (China, EU) and also all these other countries.
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post 1555947551 07-10-2018, 09:07 PM
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lol good luck with that.

yall better not be living paycheck to paycheck
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post 1555947641 07-10-2018, 09:09 PM
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it's because trump found out China punches back, and it hurts....

Trump promises to 'make it up' to farmers hit by China tariffs
https://money.cnn.com/2018/04/09/new...ffs/index.html
post 1555947791 07-10-2018, 09:11 PM
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Originally Posted By Tamorlane⏩
it's because trump found out China punches back, and it hurts....

Trump promises to 'make it up' to farmers hit by China tariffs
https://money.cnn.com/2018/04/09/new...ffs/index.html
Bingo. This is exactly it. The trade war has made farmers lose billions.

China and EU individually have surpassed or been neck and neck with the U.S. on terms of economy for the past 5 years.

He wants to take both of them on, and Canada + Mexico at the same time? OK brah.
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post 1555947991 07-10-2018, 09:14 PM
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The US Economy is 19.3 Trillion.

200B really isn't that much, people are overracting to this.
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post 1555948041 07-10-2018, 09:15 PM
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post 1555948341 07-10-2018, 09:19 PM
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Originally Posted By monty097⏩
The US Economy is 19.3 Trillion.

200B really isn't that much, people are overracting to this.
If you think this is an overreaction, go back to bed. $500B is the total U.S. import value from China, that's as high as the U.S. can possibly go.

Now consider Trump has already tariffed $250B worth of goods from China (and they haven't even hit back yet.)

Farmers were complaining about being collateral damage when the tariffs were $34B, this is a 150% increase on that figure.
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post 1555948571 07-10-2018, 09:22 PM
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Literally hitler is literally declaring literal war, literally, if you weren't a white Boi you'd understand
Entire NYPD should go on strike. You'll see then how quickly the mayor changes his tone.

"Dig with your hands, not with your mouths"

Entire NYPD should go on strike. You'll see then how quickly the mayor changes his tone.
post 1555948621 07-10-2018, 09:23 PM
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Trump is an idiot. He should just continue to let China bend us over with our current trade deals. Not fuking serious!

It l's funny to see some people losing their minds over Trump working to create a fair deal between the U.S and other countries. Do all of you really hate America that much? Don't even bother responding with "no" because we know you're lying.
post 1555948781 07-10-2018, 09:26 PM
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Originally Posted By Peter
Trump is an idiot. He should just continue to let China bend us over with our current trade deals. Not fuking serious!

It l's funny to see some people losing their minds over Trump working to create a fair deal between the U.S and other countries. Do all of you really hate America that much? Don't even bother responding with "no" because we know you're lying.
"Fair deal for America" = as long as we get to bend you over we don't care.

Also, you can try - but honestly, you don't have the economy to take on half the world at the same time. We aren't in the post-WW2 era anymore.
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post 1555948791 07-10-2018, 09:26 PM
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Originally Posted By FatalTragedy12⏩
If you think this is an overreaction, go back to bed. $500B is the total U.S. import value from China, that's as high as the U.S. can possibly go.

Now consider Trump has already tariffed $250B worth of goods from China (and they haven't even hit back yet.)

Farmers were complaining about being collateral damage when the tariffs were $34B, this is a 150% increase on that figure.
The negative impact of the tariffs (which are pretty much a tax hike on consumers and users of steel and aluminum) is more than offset by the benefits from tax reform.

The US economy is already accelerating and no one will be able to tell how much more it could have grown without the tariffs.

Most economists are expecting around a 0.3% impact on GDP from the tariffs, that's fuk all.
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post 1555948811 07-10-2018, 09:26 PM
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Originally Posted By monty097⏩
The US Economy is 19.3 Trillion.

200B really isn't that much, people are overracting to this.
Exactly! Whats an extra $200bil in taxes on american consumers? Its not that much!
post 1555948881 07-10-2018, 09:28 PM
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Originally Posted By FatalTragedy12⏩
"Fair deal for America" = as long as we get to bend you over we don't care.

Also, you can try - but honestly, you don't have the economy to take on half the world at the same time. We aren't in the post-WW2 era anymore.
Are you not an American? I noticed you said "you" a few times in your response.
post 1555948901 07-10-2018, 09:28 PM
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Originally Posted By monty097⏩
The negative impact of the tariffs (which are pretty much a tax hike on consumers and users of steel and aluminum) is more than offset by the benefits from tax reform.

The US economy is already accelerating and no one will be able to tell how much more it could have grown without the tariffs.

Most economists are expecting around a 0.3% impact on GDP from the tariffs, that's fuk all.
It hits industry hard and makes it unfeasible for some to continue operations. The aluminium/steel tariffs destroyed industry and working families on both sides.

This is going to make that worse exponentially. 0.3% is an extremely conservative estimate, I'd like to see a source. Even then, it's almost half of the agri-food spending in the U.S.
Originally Posted By Peter
Are you not an American? I noticed you said "you" a few times in your response.
No, but I'm very pro-U.S. because the U.S. has mostly been a positive influence on the world and don't want to see it make bad moves.
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post 1555948911 07-10-2018, 09:28 PM
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Originally Posted By Peter
Trump is an idiot. He should just continue to let China bend us over with our current trade deals. Not fuking serious!

It l's funny to see some people losing their minds over Trump working to create a fair deal between the U.S and other countries. Do all of you really hate America that much? Don't even bother responding with "no" because we know you're lying.
Surely you posted this on an american made electronic device. Only traitors buy from Chinese companies.
post 1555949061 07-10-2018, 09:31 PM
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Post deleted by user
post 1555949171 07-10-2018, 09:32 PM
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Phucking LMAO at liberals saying we should just talk it out with China and things will get better. This pussy mentality is exactly why China has us bent over with no lube. I know it's tough for liberals to understand, as they're too busy watching Sex and the City while licking tootsie pops, but sometimes force is needed to win.

If there was ever a time to make things right using tariffs, it's now. Our economy is through the roof and we're at full employment.
post 1555949341 07-10-2018, 09:35 PM
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Originally Posted By ichBinBerliner⏩
Exactly! Whats an extra $200bil in taxes on american consumers? Its not that much!
Purely from a mathematical perspective, it really isn't unless you think .01% is a lot.
post 1555949471 07-10-2018, 09:37 PM
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Originally Posted By ichBinBerliner⏩
Exactly! Whats an extra $200bil in taxes on american consumers? Its not that much!
Roughly $570 per person, so no it actually isn't really.
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post 1555949661 07-10-2018, 09:38 PM
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Originally Posted By Ephedra⏩
Phucking LMAO at liberals saying we should just talk it out with China and things will get better. This pussy mentality is exactly why China has us bent over with no lube. I know it's tough for liberals to understand, as they're too busy watching Sex and the City while licking tootsie pops, but sometimes force is needed to win.

If there was ever a time to make things right using tariffs, it's now. Our economy is through the roof and we're at full employment.
Trump has been negotiating with Asians his whole damn life. I think he knows what he's doing, just like when the first meeting with KJU fell apart. The lefties were claiming that the sky was falling.
post 1555949751 07-10-2018, 09:40 PM
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Originally Posted By monty097⏩
Roughly $570 per person, so no it actually isn't really.
I think you don't realise that the U.S. tried this before under George W. Bush and the plan failed miserably. That time it wasjust steel.

This time it's a plethora of products, and it's literally the US vs. the world, not just China.

Here's the results of those tariffs (that the U.S. had to revert itself, tail between the legs):
A study on the 2002 steel tariff showed net-negative consequences for US economy, overall. You can read the report in full here, but these are the highlights:

- 200,000 Americans lost their jobs to higher steel prices during 2002. These lost jobs represent approximately $4 billion in lost wages from February to November 2002.

- More American workers lost their jobs in 2002 to higher steel prices than the total number employed by the U.S. steel industry itself (187,500 Americans were employed by U.S. steel producers in December 2002).

- One out of four (50,000) of these job losses occurred in the metal manufacturing, machinery and equipment and transportation equipment and parts sectors.

- Every U.S. state experienced employment losses from higher steel costs.

- The analysis shows that American steel consumers have borne heavy costs from higher steel prices caused by shortages, tariffs and trade remedy duties, among other factors.
http://www.tradepartnership.com/pdf_...02jobstudy.pdf
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post 1555949791 07-10-2018, 09:41 PM
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Originally Posted By Ephedra⏩
Phucking LMAO at liberals saying we should just talk it out with China and things will get better. This pussy mentality is exactly why China has us bent over with no lube. I know it's tough for liberals to understand, as they're too busy watching Sex and the City while licking tootsie pops, but sometimes force is needed to win.

If there was ever a time to make things right using tariffs, it's now. Our economy is through the roof and we're at full employment.
This, it is perfect time for this. If we wait until China's economy passes us we won't have any leverage over them anymore to correct our trade deals. They already have a chit ton of tariffs on us anyways.
post 1555949951 07-10-2018, 09:43 PM
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Originally Posted By Peter
Purely from a mathematical perspective, it really isn't unless you think .01% is a lot.
So..which american made product are you using to make this post? At the very least you should be posting on an Apple product since the profits are flowing back to merica.
post 1555950001 07-10-2018, 09:44 PM
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Originally Posted By FatalTragedy12⏩
I think you don't realise that the U.S. tried this before under George W. Bush and the plan failed miserably. That time it wasjust steel.

This time it's a plethora of products, and it's literally the US vs. the world, not just China.

Here's the results of those tariffs (that the U.S. had to revert itself, tail between the legs):

- 200,000 Americans lost their jobs to higher steel prices during 2002. These lost jobs represent approximately $4 billion in lost wages from February to November 2002.

- More American workers lost their jobs in 2002 to higher steel prices than the total number employed by the U.S. steel industry itself (187,500 Americans were employed by U.S. steel producers in December 2002).

- One out of four (50,000) of these job losses occurred in the metal manufacturing, machinery and equipment and transportation equipment and parts sectors.

- Every U.S. state experienced employment losses from higher steel costs.

- The analysis shows that American steel consumers have borne heavy costs from higher steel prices caused by shortages, tariffs and trade remedy duties, among other factors.
Good thing job numbers aren't dropping and things are looking better than ever. If there's ever a time for tariffs, it's now. What should we do, wait for the next recession to try and fight back? Or should we try to just talk it out? LMAO.
post 1555950111 07-10-2018, 09:45 PM
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Originally Posted By Icemaing⏩
This, it is perfect time for this. If we wait until China's economy passes us we won't have any leverage over them anymore to correct our trade deals. They already have a chit ton of tariffs on us anyways.
It's already been passed multiple times over several years by China and the EU.



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post 1555950181 07-10-2018, 09:46 PM
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post 1555950241 07-10-2018, 09:47 PM
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Originally Posted By ichBinBerliner⏩
So..which american made product are you using to make this post? At the very least you should be posting on an Apple product since the profits are flowing back to merica.
I'll have you know that I'm using a homemade abacus I created using only the finest American wood from trees grown in the northwest. Now what?

In all seriousness, China will blink first if Trump sticks to his guns.
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