China slaps retaliatory tariffs of 84% on U.S. goods in response to Trump

[TU Curmudgeon]

One example of the impact farmers are feeling...

Here Are the Places Where the Recession Has Already Begun

Towns near the Canadian border are suffering.

www.theatlantic.com

Why didn't the Canadians pay the tariff like Mr Trump said they were going to do?

Why didn't the farmer sue Canada for "non-payment"?

 

[Chomsky]

Well they are selling off our debt this morning, so your boy has successfully started an economic war with one of his biggest creditors.

China also recently has been doing "intense" military maneuvers around Taiwan.

Half of the U.S. semi's, and many of the important ones, come from Taiwan.

If Trump cuts U.S access to their goods, which it seems they're doing, and combines that with concurrent disruption to our critical semi's from Taiwan, the situation for us could turn quite dire.

This could even go from a tariff war, to a threatened (or actual) shooting war.

 

[TU Curmudgeon]

It will shut down the Chinese economy...or Xi will be ousted.

This is what it's all about with respect to China...

MSN

Can I get a pound of that stuff from you?

 

[TU Curmudgeon]

China is going to attack the US ally in the Pacific within the next two years. Will you still be rooting for China then? You understand what Xi is preparing for, right? This isn't a good thing about to come. Sadly, with China, the AI war will be a real thing. I hope you are prepared to fight the cylons...

Since Taiwan was long an actual part of China and since Mr Trump believes that countries have the right to reclaim their traditional territories using military force if need be (see "Ukraine" and "Gaza") and even supports the right of countries to use military force to take possession of territory that should have been theirs right from the beginning (see "Canada", "Greenland", and "Panama"), exactly why would Mr Trump be opposed to China "reclaiming its traditional territory"?

 

[Chomsky]

This post won't age well.

Unlike America China has other trading partners that it's not engaged in a trade war with.

The US has none.

There are just some goods, like appliances, that the U.S. has little alternative. Even a (more expensive!) Euro branded appliance I recently looked at, was 100% Chinese content despite the Euro name-plate.

We (Americans) are just plain stuck - for now.

 

[TU Curmudgeon]

They are either already buying from China or they don't want to. They are not going to increase their buying to the tune of $500 billion.

They are when they can't sell their goods to the US because Mr Trump insists that every country in the world has to buy more from the US than it sells to the US.

 

[TU Curmudgeon]

China hits US imports with additional retaliatory tariff of 50%

Beijing to match new duties imposed by Donald Trump with effect from Thursday as trade war escalates

www.ft.com

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China has called Donald Trump's tariff "raise", matching yesterday's additional 50% tariff imposed upon Chinese goods, now placing the ball back in Mr. Trump's court.

By now, I think few of us are surprised. It appears both countries - for now - seem to be vying with ending trade relations.

I suspect the American taxpayers, besides paying the additional tariff taxes, will need to bail-out the farmers again - as we did during Donald Trump's first term.

Woe is us.

Farmers and almost every other exporter as well.

Now that the US isn't contributing to world famine relief (by donating money that has to be spent in the United States of America), the countries that are contributing are going to be looking for new sources of supply.

 

[Mycroft]

They are when they can't sell their goods to the US because Mr Trump insists that every country in the world has to buy more from the US than it sells to the US.

When did Trump tell a country that they have to buy more from the US than it sells to the US?

I think you are making shit up, but I invite you to provide a quote of him saying that.

 

[TU Curmudgeon]

Just like with farmers, I doubt Trump would let WalMart fail. He might prop them up with our tax dollars.

Why not let him use government money to ensure the economic health of hugely profitable corporate enterprises? I mean it's not like that costs Americans anything - it's just government money - right?

 

[Ikari]

This post won't age well.

Unlike America China has other trading partners that it's not engaged in a trade war with.

The US has none.

That's one of the bigger problems for Trump. No one is coming out of his insane Trade War unscathed, but America is an island unto itself thanks to the stupidity of his actions. The rest of the world, they can work together and amongst themselves to try to help alleviate some of the fallout, but America cannot.

Trump's War on the American People is so ****ing stupid, but MAGA commies are going to support it. As I've long said, MAGAs hate America.

 

[TU Curmudgeon]

But the nations of the EU are desperate to engage in talks in a way that China isn't. China has already publicly declared that they're willing to wage a tit-for-tat tariff war, as deep and as long as is needed. Unlike anything Trump says, I believe them.



Yeah .... but Trump has yet to be named "President for Life" like Jinping has.
"The Donald" is already 7 years older and, given his lifestyle and dietary choices, unlikely to outlast Xi.

The folks in "Shady Rest Memorial Gardens" appreciate the tunes that you whistle as you walk past.

 

[Chomsky]

Yet when a Walmart closes, everyone is upset about it:

People don't like it when a store that is basically a one-stop shop closes, news at 11

I would like to point-out this particular store is in reasonable proximately to other WalMart stores. It's on the edge of Chicago, and Chicagoland is blanketed to Walmart.

Initially, the Chicago city council did not allow WalMart within the city proper. So WalMart put stores in suburbs abutting the city, to draw from nearby city residents.

Previous to the video, Chicago changed its position allowing WalMart in the city. Consequently, some of these earlier city-edge WaMarts became superfluous to the point of closure.

There are other open WalMart stores in reasonable proximity to this one.

But I believe this shows - indeed - how ensconced these stores are to local residents. If an urban/suburban customer complains they'll need to go to a walMart only a 5 minutes and mile or two away, how much will a rural customer complain when they need to go 25 minutes and twenty miles and multiple towns over?

 

[Questerr]

It will shut down the Chinese economy...or Xi will be ousted.

This is what it's all about with respect to China...

MSN

US trade represents 8% of all Chinese trade.

Our economy will collapse before theirs will.

 

[longview]

One example of the impact farmers are feeling...

Here Are the Places Where the Recession Has Already Begun

Towns near the Canadian border are suffering.

www.theatlantic.com

I wonder if they have a time warp, because last month was before last week, when the tariffs started.

 

[TU Curmudgeon]

FYI - Just hours later, the EU (this morn) levied their first round of retaliatory tariffs.

The suspicion that the Europeans acted because they were assured that China wasn't going to knuckle under to the US grows stronger.

The US has around 24% of the world's GDP and around 5% of the world's potential market. Exports comprise around 11% of the US GDP. Being shut out of the other 95% of the world's potential market (as the Chinese and Europeans appear more than willing to do to the US) means that at least 10.45% of the US' GDP is going to be "surplus to domestic requirements". What then?

 

[Chomsky]

China is going to attack the US ally in the Pacific within the next two years. Will you still be rooting for China then? You understand what Xi is preparing for, right? This isn't a good thing about to come. Sadly, with China, the AI war will be a real thing. I hope you are prepared to fight the cylons...

I think you've missed the military deterrent effect that occurs with trade alliances.

 

[What if...?]

Trump doesn't know who he's dealing with. Xi will not back down.

Xi is the kind of person trump fantasizes about being.

He’s gonna be real mad when he finds out it was just a fantasy.

 

[Chomsky]

One of the main reasons they have not attacked our ally is that the US is their biggest market.
Countries generally do not start wars with their trade partners.

Bingo!

The Trump Admin has taken that card from the table, and now the dominos will start falling.
Congrats MAGA you maybe starting WW3 here.

Absolutely.

 

[TU Curmudgeon]

With the EU retaliating this morning with their "first wave", and Trump announcing he is going to add tariffs on pharmaceuticals, yeah - the bolded seems about right.

50% tariff on pharmaceuticals (except for the Chinese ones where it's 104%) means that Granny's heart medicine is going to cost a lot more. That means that Medicare and Medicaid costs are going to go up (as will the cost of private insurance).

Once the funds provided for Medicare and Medicaid have been spent, then the coverage level is reduced to _[fill in the blank]_%.

However, Mr Trump has been assured that that won't affect him in the least.

 

[Chomsky]

Trump says BE COOL!

View attachment 67564602

Trump's a billionaire. He doesn't even drive his own car, shop for his family, or make his family's budget work.

He has no idea what we go through, or what he's now putting us through.

 

[TU Curmudgeon]

Why is China imposing a huge tax on its own people?

It's sort of like the Canadian 250% tariff on US butter (that exceeds the amount that is allowed in at a 0.00% tariff rate). If you don't buy any, then you don't pay a dime.

There isn't anything that China needs that it can ONLY get from the US.

 

[Airyaman]

With the way Trump is making China more powerful every day, you'd think he wasn't a Russian asset but a Chinese asset.

Is there really a difference?

 

[SCrider]

50% tariff on pharmaceuticals (except for the Chinese ones where it's 104%) means that Granny's heart medicine is going to cost a lot more. That means that Medicare and Medicaid costs are going to go up (as will the cost of private insurance).

Once the funds provided for Medicare and Medicaid have been spent, then the coverage level is reduced to _[fill in the blank]_%.

However, Mr Trump has been assured that that won't affect him in the least.

Granny should have had the foresight to be a billionaire so this would not affect her.

 

[What if...?]

It will shut down the Chinese economy...or Xi will be ousted.

This is what it's all about with respect to China...

MSN

It’s so precious that y’all believe that China doesn’t have enough other customers to weather this nonsense.

Hell, I’ve been contemplating smuggling iPhones across the border and enjoying the profit to be made off the makeup all day every day hero of the gay hating right.

 

[Chomsky]

There we go. The start.

There's nothing that's going to get China to back-down, now. These events are in China's best long-term interests. Trump may have given China the opportunity of a lifetime.