Donald Trump floats tariff of more than 60% on imports from China and denies it would start a trade war

[VySky]

It’s starting to look promising for America. Soon the old dotard Biden will be a distant bad memory and sanity once again returns to Washington.

Better days are ahead after Trump is elected.

——————-

Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.

Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.


Asked about a Washington Post report that he was considering a flat 60% tariff on Chinese goods imports, Trump said “no, I would say maybe it’s going to be more than that” in an interview on Fox News’ Sunday Morning Futures.
Trump, the front-runner for the 2024 Republican presidential nomination, rejected criticism that the moves would start a trade war, saying that he “did great with China with eve
saying that he “did great with China with everything

Donald Trump floats tariff of more than 60% on imports from China and denies it would start a trade war

The Republican front-runner said that he “did great with China with everything” during his presidency.

fortune.com

 

[Questerr]

It’s starting to look promising for America. Soon the old dotard Biden will be a distant bad memory and sanity once again returns to Washington.

Better days are ahead after Trump is elected.

——————-

Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.

Donald Trump floats tariff of more than 60% on imports from China and denies it would start a trade war

The Republican front-runner said that he “did great with China with everything” during his presidency.

fortune.com

Why does Trump want to massively increase taxes on Americans?

 

[Gozaburo]

It’s starting to look promising for America. Soon the old dotard Biden will be a distant bad memory and sanity once again returns to Washington.

Better days are ahead after Trump is elected.
—————-
Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.

Tariff's are an interesting subject. On the one hand, they're an anachronism from a bygone age of American isolationism. On the other, they could potentially start a productive conversation on how exactly America's economic model functions and whether or not that is sustainable. You're going to get absolutely torched in this thread by people saying tariffs are poor economic policy, but I'm curious if anyone would be willing to engage with our current policy based on free markets, open borders, free trade, and an insistence on unlimited capital growth.

It stands to reason that as we potentially leave the unipolar moment of American global hegemony, liberal capitalism is going to run into some significant issues from rival powers. Global capitalism only *works* if America maintains its status as the global hegemon and can wield its massive military hard and soft power to keep markets and trade free and open.

I'm personally not convinced that a system which experiences <1% growth enters into a "recession" and can only be sustained by infinite growth of the economy and GDP. The proliferation of conflicts around the world (Ukraine, Taiwan, Iran, etc.) should make every American strongly consider whether or not an economic model which is entirely dependent on world peace is sustainable in the coming decades. There very well might be a strong argument for a higher focus on domestic industry as American geopolitical power recedes and is put on increasingly shaky grounds of reliability.

 

[Pyrite]

Tariff's are an interesting subject. On the one hand, they're an anachronism from a bygone age of American isolationism. On the other, they could potentially start a productive conversation on how exactly America's economic model functions and whether or not that is sustainable. You're going to get absolutely torched in this thread by people saying tariffs are poor economic policy, but I'm curious if anyone would be willing to engage with our current policy based on free markets, open borders, free trade, and an insistence on unlimited capital growth.

It stands to reason that as we potentially leave the unipolar moment of American global hegemony, liberal capitalism is going to run into some significant issues from rival powers. Global capitalism only *works* if America maintains its status as the global hegemon and can wield its massive military hard and soft power to keep markets and trade free and open.

I'm personally not convinced that a system which experiences <1% growth enters into a "recession" and can only be sustained by infinite growth of the economy and GDP. The proliferation of conflicts around the world (Ukraine, Taiwan, Iran, etc.) should make every American strongly consider whether or not an economic model which is entirely dependent on world peace is sustainable in the coming decades. There very well might be a strong argument for a higher focus on domestic industry as American geopolitical power recedes and is put on increasingly shaky grounds of reliability.

Wouldn't we have to resort to some form of centralized economic planning in order to build and sustain industries that are not currently domestic?

 

[Gozaburo]

Wouldn't we have to resort to some form of centralized economic planning in order to build and sustain industries that are not currently domestic?

Probably, although I don't think it would need to be to the degree of the industrializing agricultural nations of the 20th century. It's going to need to be addressed at one point or another. Western sanctions on Russia prior to and during the start of the war in Ukraine woke me up to this. The sanctions debatably indirectly hurt US economic vassals (Germany, France, etc.) more than it hurt Russia herself.

Anyone who can't see that this is a serious problem in a world with increasing regional conflict and waning US soft power is just out to lunch imo.

 

[Pyrite]

Probably, although I don't think it would need to be to the degree of the industrializing agricultural nations of the 20th century. It's going to need to be addressed at one point or another. Western sanctions on Russia prior to and during the start of the war in Ukraine woke me up to this. The sanctions debatably indirectly hurt US economic vassals (Germany, France, etc.) more than it hurt Russia herself.

Anyone who can't see that this is a serious problem in a world with increasing regional conflict and waning US soft power is just out to lunch imo.

It's a serious problem re highly-sophisticated chips and TSMC/possible takeover of Taiwan by the PRC.

Again, though, we're not set up for the government to - at best - provide financial incentives that induce and sustain private (non-government) domestic production of even critical materials, and - at worst - directs private companies to stop manufacturing one line and to start manufacturing another. Nor are we set up for state-run manufacturing.

I don't know what an answer could be, but I would expect a great amount of resistance to anything that smacks of centralized planning.

 

[VySky]

Why does Trump want to massively increase taxes on Americans?

^^^^ Projection ^^^^

 

[Ug make hammer]

It’s starting to look promising for America. Soon the old dotard Biden will be a distant bad memory and sanity once again returns to Washington.

Better days are ahead after Trump is elected.

——————-

Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.

Donald Trump floats tariff of more than 60% on imports from China and denies it would start a trade war

The Republican front-runner said that he “did great with China with everything” during his presidency.

fortune.com

This would sharply increase prices in the US, both for retail goods and precursors used by US manufacturing and building.

Seems Trump is in favor of inflation. Good to know.

 

[Gozaburo]

It's a serious problem re highly-sophisticated chips and TSMC.

Again, though, we're not set up for the government to - at best - provide financial incentives that induce and sustain private (non-government) domestic production of even critical materials, and - at worst - directs private companies to stop manufacturing one line and to start manufacturing another. Nor are we set up for state-run manufacturing.

I don't know what an answer could be, but I would expect a great amount of resistance to anything that smacks of centralized planning.

Agreed. Particularly among the older generations that remember the Cold War, there is a deeply embedded opposition to any form of state planning or government-owned programs to make critical economic adjustments for future high value resources as you rightly point out with semiconductors and ICs re: Taiwan. Beyond that, any necessary change to the current order would likely produce a temporary economic backlash that would severely damage any politicians ability to be re-elected, even if that change was necessary for future stability.

 

[Ug make hammer]

^^^^ Projection ^^^^

What? Tariffs are taxes, surely you know this.

 

[Questerr]

^^^^ Projection ^^^^

You understand that tariffs are a tax on imports, yes? Paid by the importer, IE Americans.

Trump wants to massively increase taxes on Americans and also massively increase prices on goods.

 

[Ishm]

Given that the US has almost no labor available at the current rate of unemployment, and given that Trump wants to severely restrict immigration of extra labor, what exactly is the benefit of these 60% tariffs, and what exactly is the benefit to the US consumer other than massive price increases feeding the US treasury?? Someone tell us how these tariffs make the US consumer the winner out of this? I like the idea of the US reducing the amount it is feeding to the Chinese govt and it's military ambitions, but this just looks like a huge loss for the average US citizen.

 

[Ug make hammer]

Given that the US has almost no labor available at the current rate of unemployment, and given that Trump wants to severely restrict immigration of extra labor, what exactly is the benefit of these 60% tariffs, and what exactly is the benefit to the US consumer other than massive price increases feeding the US treasury?? Someone tell us how these tariffs make the US consumer the winner out of this? I like the idea of the US reducing the amount it is feeding to the Chinese govt and it's military ambitions, but this just looks like a huge loss for the average US citizen.

In theory US manufacturing capacity would increase, due to greater market share and higher product prices. But BEFORE that happened, prices of domestically produced good would go UP. Established producers would take the opportunity to raise more money, to fund increasing their production. They aren't going to keep prices where they were, letting newly formed companies fill the supply gap. And as you note, there isn't a supply of more labor, so any producer whether new or existing, would need to invest in automation.

60% is a huge spike in prices, even if the Republicans dictated to Trump that he had to phase it over four years. A 15% increase in the first year would cause huge inflation, and the wheels would come off when Democrats won a landslide in the mid-terms.

I can't believe Trump asked senior Republicans about this idiot idea. It's all about him, as usual.

 

[Ishm]

In theory US manufacturing capacity would increase, due to greater market share and higher product prices. But BEFORE that happened, prices of domestically produced good would go UP. Established producers would take the opportunity to raise more money, to fund increasing their production. They aren't going to keep prices where they were, letting newly formed companies fill the supply gap. And as you note, there isn't a supply of more labor, so any producer whether new or existing, would need to invest in automation.

60% is a huge spike in prices, even if the Republicans dictated to Trump that he had to phase it over four years. A 15% increase in the first year would cause huge inflation, and the wheels would come off when Democrats won a landslide in the mid-terms.

I can't believe Trump asked senior Republicans about this idiot idea. It's all about him, as usual.

It's just more red meat for his loyal dogs that follow at his heel. He knows that many (far too many) of them will never have a rational thought about this other than that it is an 'anti-China' move. They won't stop to think what it really means, whether it makes any sense, and even if it will be good for them personally. They don't have the intellectual capacity to think that far. If they did, they wouldn't be supporting Trump.

 

[Airyaman]

It’s starting to look promising for America.

American consumers paying 60% for many items is promising? For what, the tax coffers?

 

[VySky]

American consumers paying 60% for many items is promising? For what, the tax coffers?

Trump being POTUS

 

[Ug make hammer]

Trump being POTUS

And the voters being stupid?

 

[Mycroft]

It’s starting to look promising for America. Soon the old dotard Biden will be a distant bad memory and sanity once again returns to Washington.

Better days are ahead after Trump is elected.

——————-

Former President Donald Trump said he might impose a tariff on Chinese goods of more than 60% if elected, signaling an increasingly hawkish tone against the top supplier of goods to the US.

Donald Trump floats tariff of more than 60% on imports from China and denies it would start a trade war

The Republican front-runner said that he “did great with China with everything” during his presidency.

fortune.com

I am very happy to hear this. It tells me that Trump will be resuming his efforts to negotiate with China to end their seven deadly sins. He was well on the way to success until his second term was stolen from him and it's nice to know that he hasn't forgotten about it.

For those who are reality challenged, here is a short primer about what he was doing...

Trump wanted to force China to both come to the negotiating table and to agree to his demands that they discontinue their seven deadly sins:

“Stop stealing our intellectual property, stop forcing technology transfers, stop hacking our computers, stop dumping into our markets and putting our companies out of business, stop state-owned enterprises from heavy subsidies, stop the [importation of] fentanyl [and] stop the currency manipulation,” Navarro told host Chris Wallace on “Fox News Sunday.”

Top aide: China must end ‘Seven Deadly Sins’ to stop trade war

White House trade adviser Peter Navarro on Sunday identified what he called the “seven deadly sins” that China must stop doing before the ongoing trade war with the U.S. will come to an end.“…

thehill.com

And, it was working. China was beginning to acquiesce, but then the 2020 election happened. After that, the Biden pukes dropped Trump's goals and China went back to committing their sins. (most notably, the Fentanyl)

So...besides myself and other America First supporters being happy to hear this news, you can be sure that China is NOT happy to hear this from Trump. They now know for sure that the hammer is coming down on them when he gets elected again.

 

[Ug make hammer]

I am very happy to hear this. It tells me that Trump will be resuming his efforts to negotiate with China to end their seven deadly sins. He was well on the way to success until his second term was stolen from him and it's nice to know that he hasn't forgotten about it.

For those who are reality challenged, here is a short primer about what he was doing...

Trump wanted to force China to both come to the negotiating table and to agree to his demands that they discontinue their seven deadly sins:

“Stop stealing our intellectual property, stop forcing technology transfers, stop hacking our computers, stop dumping into our markets and putting our companies out of business, stop state-owned enterprises from heavy subsidies, stop the [importation of] fentanyl [and] stop the currency manipulation,” Navarro told host Chris Wallace on “Fox News Sunday.”​

Top aide: China must end ‘Seven Deadly Sins’ to stop trade war

White House trade adviser Peter Navarro on Sunday identified what he called the “seven deadly sins” that China must stop doing before the ongoing trade war with the U.S. will come to an end.“…

thehill.com

And, it was working. China was beginning to acquiesce, but then the 2020 election happened. After that, the Biden pukes dropped Trump's goals and China went back to committing their sins. (most notably, the Fentanyl)

Unfortunately for your partisan narrative, most of the tariffs which Trump put in place, were left in place by Biden.

So...besides myself and other America First supporters being happy to hear this news, you can be sure that China is NOT happy to hear this from Trump. They now know for sure that the hammer is coming down on them when he gets elected again.

Of course they're concerned about the effect such a tariff would have on their economy. But WE should be concerned about the effect it will have on OURS.

Inflation for one thing. The longer you ignore that, the more obvious it is that you're just concerned with getting Trump elected, and don't care at all what happens to America's economy.

 

[VySky]

I am very happy to hear this. It tells me that Trump will be resuming his efforts to negotiate with China to end their seven deadly sins. He was well on the way to success until his second term was stolen from him and it's nice to know that he hasn't forgotten about it.

For those who are reality challenged, here is a short primer about what he was doing...

Trump wanted to force China to both come to the negotiating table and to agree to his demands that they discontinue their seven deadly sins:

“Stop stealing our intellectual property, stop forcing technology transfers, stop hacking our computers, stop dumping into our markets and putting our companies out of business, stop state-owned enterprises from heavy subsidies, stop the [importation of] fentanyl [and] stop the currency manipulation,” Navarro told host Chris Wallace on “Fox News Sunday.”​

Top aide: China must end ‘Seven Deadly Sins’ to stop trade war

White House trade adviser Peter Navarro on Sunday identified what he called the “seven deadly sins” that China must stop doing before the ongoing trade war with the U.S. will come to an end.“…

thehill.com

And, it was working. China was beginning to acquiesce, but then the 2020 election happened. After that, the Biden pukes dropped Trump's goals and China went back to committing their sins. (most notably, the Fentanyl)

So...besides myself and other America First supporters being happy to hear this news, you can be sure that China is NOT happy to hear this from Trump. They now know for sure that the hammer is coming down on them when he gets elected again.

The hammer is coming down indeed. We will not see as many Obama holdover over types sticking around. I look for massive resignations this time around.

They know Trump is coming. And this time it doesn’t look good for them.

 

[Mycroft]

The hammer is coming down indeed. We will not see as many Obama holdover over types sticking around. I look for massive resignations this time around.

They know Trump is coming. And this time it doesn’t look good for them.

Well, that's a different topic, but I'll briefly address it.

I don't see the rats abandoning ship in big numbers.

1. There will be court challenges and most of the rats will stick around to see how they turn out.

2. The rats are a tenacious bunch. Many will dig in and hide until they have the opportunity to come out to do their damage...even if they get caught while doing it.

 

[Ug make hammer]

Well, that's a different topic, but I'll briefly address it.

I don't see the rats abandoning ship in big numbers.

1. There will be court challenges and most of the rats will stick around to see how they turn out.

2. The rats are a tenacious bunch. Many will dig in and hide until they have the opportunity to come out to do their damage...even if they get caught while doing it.

You're right, but for the wrong reasons. Civil servants won't resign, because they've done nothing wrong. If Trump sacks them just for their party registration, he'll get sued. Why make it easy for him?

 

[Nilhus]

And, it was working.

It wasn't working and it will never work.

China's TOTAL exports to the US are just around 3% of their GDP!!! Peanuts! US stopping all imports from China would be shooting itself in the foot and would have close to zero effect on China. The so called "sanctions" imposed by Trump or whoever amount to basically nothing.

Did they stop pirating things? When?
Hacking computers? Not sure there's any evidence of this, US intel always lies and fabricates accusations against adversary nations(China, Russia, Iran etc)
Did they stop subsidizing state owned enterprises? LOL! Asking such a thing from the Chinese is beyond laughable!
Did they stop "manipulating" the yuan? Of course not! But all countries/entities that control currencies do that(central banks do that)! So it's a dumb accusation!
etc etc

 

[OrphanSlug]

The last thing this economy needs is a tariff driven trade war with China, the Trump crew believing this will not start a trade war are all delusional.

 

[Mycroft]

It wasn't working and it will never work.

China's TOTAL exports to the US are just around 3% of their GDP!!! Peanuts! US stopping all imports from China would be shooting itself in the foot and would have close to zero effect on China. The so called "sanctions" imposed by Trump or whoever amount to basically nothing.

Did they stop pirating things? When?
Hacking computers? Not sure there's any evidence of this, US intel always lies and fabricates accusations against adversary nations(China, Russia, Iran etc)
Did they stop subsidizing state owned enterprises? LOL! Asking such a thing from the Chinese is beyond laughable!
Did they stop "manipulating" the yuan? Of course not! But all countries/entities that control currencies do that(central banks do that)! So it's a dumb accusation!
etc etc

There was never any intention of "stopping all imports from China".

And yes, Trump's tactics were working.

• President Trump signed a “phase one” trade agreement with China as the world’s two biggest economies try to rein in a more than 18-month trade war.
• The deal includes provisions to root out intellectual property theft and forced technology transfers and increase Chinese purchases of U.S. goods, though it leaves open questions about enforcement.
• The Trump administration aims to start negotiating the next piece of the trade agreement before the November 2020 election.

Trump signs 'phase one' trade deal with China in push to stop economic conflict

The U.S.-China trade deal signed Wednesday includes provisions related to intellectual property theft and forced technology transfers.

www.cnbc.com

Even though the Biden pukes continued a lackadaisical effort to continue that trade agreement, China didn't live up to the agreement.

China has failed to meet its commitments under a two-year "Phase 1" trade deal that expired at the end of 2021, and discussions are continuing with Beijing on the matter, Deputy U.S. Trade Representative Sarah Bianchi said on Tuesday.​

​

https://www.reuters.com/world/us/us-trade-official-says-china-failed-meet-phase-1-commitments-2022-02-01/