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U.S. and China agree to slash reciprocal tariffs in major step toward easing trade war

Chomsky said:
True story:

The owner of one of one of my local Chinese carry-out joints claims her newly minted accountant son, living with his parents and educated here in the States, found he could make more money via job offers he was getting when visiting China - vs working here in the States.

So, he packed his bags and went off the China.

I have no idea what to make of this? Was she speaking in terms starting wages? Or, greater financial opportunity? I dunno'. But she claimed the kid told her his job offers in China were for more money.

FWIW, my conversation with the mother took place sometime just before Covid.
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Someone is embelishing to make their child look good. My wife has hired Chinese for 3 different tech companies and at 'best' they would be somewhere around 1/3 the payscale of someone in the US.
 
dobieg said:
Sounds like someone stomping their feet because they pulled their money out of the market.
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I haven't touched much of anything. I am in my 30's I don't have enough time to worry about this right now. If anything it dipping is good for me.
It isn't good for my parents though who are retired and the general future of the United States.
 
gman said:
And only a moron would accept the status quo and enjoy getting hosed in the process. Thank you sir. May I have another?😵‍💫
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Trump has accepted a worse version of the status quo lol. What will happen in 90 days? More of Trump being a ***** it seems.
 
Variant said:
Nobody is going to plan production around a 90 day time-line. What were asking people to do is wait to plan things around whenever the president eventually makes a trade deal and pay more for things right now.
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Have any core pce data to back up that claim?
 
dobieg said:
We're what......a couple points off the all time highs and all for a few weeks of disruption?

People who didn't panic are still up since the election and those who know just a little bit made out quite well.
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Mostly people haven't ended up panicking because Trump folds so fast on his really stupid ideas.
 
Napoleon said:
Just look at the reaction to China’s tariffs here on DP. They aren’t even impacting prices yet and members, at least on the left, are demanding that an American President acquiesce to Xi Jinping. How far will you take that? What happens if China decides the punishment for any U.S. intervention in an invasion of Taiwan is that your socks and toys will be restricted, banned, or cost more? Are Americans gonna abandon Taiwan for ankle socks (at least in the arena of public opinion)? I do wonder.
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It looks like the left is right and Maga on this board on wrong. These tariffs are about finding a tax stream to pay for tax cuts for corporations and the wealthy.

Enjoy your more expensive Chinese ankle socks so that Peter Thiel can keep more of his billions.
 
ajn678 said:
I haven't touched much of anything. I am in my 30's I don't have enough time to worry about this right now. If anything it dipping is good for me.
It isn't good for my parents though who are retired and the general future of the United States.
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So you were sure Trump was ruining our economy but you didn't touch your investments?
 
iliveonramen said:
It looks like the left is right and Maga on this board on wrong. These tariffs are about finding a tax stream to pay for tax cuts for corporations and the wealthy.

Enjoy your more expensive Chinese ankle socks so that Peter Thiel can keep more of his billions.
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You do understand the new proposed tax bill raises taxes on the rich and gets rid of the carried interest loophole while getting rid of taxes on tips and social security?
 
dobieg said:
And how would youhave data prices are going up? CNN tell you?
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Well you see... Putting a 30% tariff on goods drives up their prices.
 
Variant said:
Well you see... Putting a 30% tariff on goods drives up their prices.
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So you can explain how the previous tariffs by Trump and carried over by Biden effected you personaly I assume.
 
dobieg said:
So you were sure Trump was ruining our economy but you didn't touch your investments?
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The best thing for me to do so I don't need to spend hours upon hours doing research is to ride it out. I have 30 years to make up for it.
Attempting to time the market with this idiot in charge is even more foolish than trying it in a normal period.

You should know this if you have any amount of investments yourself.
 
Chomsky said:
I have absolutely NO idea what he thinks he's after!

If I did, I wouldn't be asking.
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I’m sure a big part of this is a battle of egos. As noted previously, this trade war was started by Biden in September. I’m sure Trump doesn’t want China’s retaliation for that in December to go unanswered. And vise versa for Xi. So here we are.
 
Napoleon said:
The tech sector suffers from the same problem as manufacturing and will ultimately meet the same fate. More and more of it is being offshored to India and Asia for the very same reason. Why deal with the legal and economic baggage of the American worker when you can hire someone over there for less drama and comparative peanuts?
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Well apparently someone is hiring Americans or we would have not had full employment under Biden. This trade war is not about employing Americans it is about Trump getting cash out of the American people so he doesn't need Congress and can cut income taxes on his billionaire buddies.
 
dobieg said:
So you can explain how the previous tariffs by Trump and carried over by Biden effected you personaly I assume.
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Tariffs are taxes on imported goods they make things more expensive. If you want to argue the point you're going to have to get the basic premise down.
 
iguanaman said:
Well apparently someone is hiring Americans or we would have not had full employment under Biden. This trade war is not about employing Americans it is about Trump getting cash out of the American people so he doesn't need Congress and can cut income taxes on his billionaire buddies.
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I’m sure you believe that but the devil is the details. Who was hiring during Biden Administration? The government and the hospitality industry were responsible for the majority of job growth. If you think cleaning shit stains from the toilet for minimum wage is the American dream then you root for that. In terms of the trade war, Biden started in September so your CT doesn’t hold water.
 
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dobieg said:
We're what......a couple points off the all time highs and all for a few weeks of disruption?

People who didn't panic are still up since the election and those who know just a little bit made out quite well.
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And it hurts the others that are depending on it. Now. Like retirees...who now cant even plan ahead knowing if it will be there. Many dont have financial advisors. Many "dont know just a little bit" and I'm talking about blue collar workers or low-education whites living in trailer parks (not the same things) as much as anyone else.

You, like TeflonDon, let it slide off your back like water of a duck...if it doesnt affect you, who cares? Ya gotta break some eggs to make an omelette.
 
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Taylor said:
People will only buy the product at +30% if they think it's worth +30%. For a lot of stuff, they won't. They'll buy something similar from another seller, or spend their money on something they think provides more value. That forces the exporter to reduce the price, or the importer to take a hit on the profit margin. In either case, the result is a product that may cost consumers more, but not +30%. People are pretty value-conscious.
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This is a gob-smackingly stupid argument.

Every business that gets materials from China will have a big tax increase.

It’s not just end consumers who are affected. Now, a business that assembles Chinese components in Canada has a 30% advantage in the world market relative to one that assembles them in the US.

MAGA is getting fooled here, the flip-flop on hilarious numbers was just a smoke screen to get you to accept the needless 30% tax increase.
 
dobieg said:
That's a fair point. The only issue some of us have is absolutely nothing of value has been accomplished for decades by engaging in civil, non chaotic trade diplomacy.
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dobieg said:
Perhaps the bull in the China shop approach was needed to get other countries to the table for serious rebalancing of trade policies even with the short term pain and disruptions it would cause.
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Don't you think negotiation should have been tried, firstly?
 
ajn678 said:
The best thing for me to do so I don't need to spend hours upon hours doing research is to ride it out. I have 30 years to make up for it.
Attempting to time the market with this idiot in charge is even more foolish than trying it in a normal period.

You should know this if you have any amount of investments yourself.
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It sounds like perhaps your convictions were not as strong as your posts.


Of course perhaps you're being truthful and a few hours of research for your financial future wasn't worth the effort even in the face of a president you were certain was going to bring us on the verge of economic collapse.
 
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