U.S. blinks in trade fight with China, delaying tariffs on some imports

[Kushinator]

The U.S. announced it will not impose a 10% tariff on certain Chinese products starting Sept. 1 and is pushing back planned duties on a range of popular consumer goods, sending stock markets surging.
"Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs of 10 percent," the Office of the U.S. Trade Representative said Tuesday. The agency did not specify which items would be stricken from the list.

The rest of the article can be found here.

He's doing this for Christmas! And it creates the type of financial volatility that market makers just lap up.

The CCP will view this as a sign of weakness.

 

[Rexedgar]

We're eyeball to eyeball,” Secretary of State Dean Rusk whispered to National Security Adviser McGeorge Bundy, “and I think the other fellow just blinked.” Rusk's comment became the iconic line of the Cuban missile crisis. -1962

 

[Outlook]

The rest of the article can be found here.

He's doing this for Christmas! And it creates the type of financial volatility that market makers just lap up.

The CCP will view this as a sign of weakness.

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

 

[iguanaman]

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

That's why he had a record trade deficit last year. Because he is "winning" Right?

Record U.S. trade deficit in 2018 reflects failure of Trump’s trade policies | Economic Policy Institute

 

[Rexedgar]

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

Steady hand on the tiller, right?

 

[Kushinator]

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

He's going about it in the worst possible way.

 

[bomberfox]

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

China barely even has a video game industry and even entertainment is much more controlled than in the states. I highly doubt they make much of a dent since even the knockoffs are ****.

 

[chuckiechan]

The rest of the article can be found here.

He's doing this for Christmas! And it creates the type of financial volatility that market makers just lap up.

The CCP will view this as a sign of weakness.

Let them. As China's largest trading partner, we have all the time in the world. What are they going to do, sell us less? Do we want Trump to sign a deal that has no enforcement? That is what China wants because that is what it always got before.

You have to understand the Chinese system. Simply put, there are no individuals and every effort is for the state. That is why stealing technology, cheating on trade, and intimidation and force is completely OK in China. And coincidentally, that is one reason they have to steal tech because they aren't successful developing their own because there is no incentive (beyond force) to achieve. China just assumes as time marches on they will steam roll everyone in their way.

They would love another conventional weak kneed president who will let the multinationals tell him was is good for America. Maybe China will come around and decide to play fair, and after all the pigs have flown away in a big "elephant walk", all will be right with the USA and the Communist Party of China.

"If every Chinese bought one hot dog a day..." or so the theory went. Letting China blast the doors off the free trade system was a suckers fantasy to begin with. The USA was seduced by our own greed.

 

[Rexedgar]

<snip>

Where do you shop for your durable goods?

 

[Kushinator]

As China's largest trading partner, we have all the time in the world.

They will wait until a new President is elected in 2020.

What are they going to do, sell us less?

They will continue to weaken their currency.

Do we want Trump to sign a deal that has no enforcement? That is what China wants because that is what it always got before.

Uh huh.

You have to understand the Chinese system.

You have limited (at best) understanding of China's trade policy, and general trade mechanics. Attempting to play expert is just a burden for your own cause, because you lack the knowledge to put forth a valid counterargument.

 

[Lord Tammerlain]

China barely even has a video game industry and even entertainment is much more controlled than in the states. I highly doubt they make much of a dent since even the knockoffs are ****.

They produce much of the components and likely final assembly of the consoles for the video game industry. The only things that China likely does not produce for them is the CPU and GPU. The memory chips are likely older designs and likely produced in China

 

[chuckiechan]

They will wait until a new President is elected in 2020.



They will continue to weaken their currency.



Uh huh.



You have limited (at best) understanding of China's trade policy, and general trade mechanics. Attempting to play expert is just a burden for your own cause, because you lack the knowledge to put forth a valid counterargument.

And your is?

 

[chuckiechan]

Where do you shop for your durable goods?

i get where you are going, but as hard as it is to “Buy American” just reinforces how big the problem is.

 

[Kushinator]

And your is?

I'm not the one regurgitating political rhetoric. Tariffs are a tax on consumers, and Trump's recent acknowledgement is a testament to this reality.

“We’re doing this for the Christmas season,” Trump told reporters on an airport tarmac around noon Tuesday. “Just in case some of the tariffs would have an impact on U.S. customers.”

“But so far they’ve had virtually none,” the president added. “But just in case they might have an impact on people, what we’ve done is we’ve delayed it, so that they won’t be relevant to the Christmas shopping season.”

 

[Rexedgar]

i get where you are going, but as hard as it is to “Buy American” just reinforces how big the problem is.

Is it too much to ask for an answer? The problem is huge and we have done it to ourselves. Everybody wants the best price and business has had to adjust their model to deliver the best price. We have “Walmarted” ourselves!

 

[Kushinator]

Is it too much to ask for an answer? The problem is huge and we have done it to ourselves. Everybody wants the best price and business has had to adjust their model to deliver the best price. We have “Walmarted” ourselves!

That's not the problem. It's all about protection of intellectual property.

We want to purchase goods from China given their cost advantage.

 

[Outlook]

That's why he had a record trade deficit last year. Because he is "winning" Right?

Record U.S. trade deficit in 2018 reflects failure of Trump’s trade policies | Economic Policy Institute

All you liberals have been telling me trade deficits are good for the economy.
Is it possible the high trade deficits is because China fails to open up all their markets to us?

I hope I didn’t make you look foolish but it was Obama that said this in 2012 during his economic war with China.

 

[Outlook]

He's going about it in the worst possible way.

My bad, it was Obama that said this during the time he was filling an unprecedented number of complaints with the WTO against China.
7 years later, looks like we are fighting the same battle.

 

[iguanaman]

All you liberals have been telling me trade deficits are good for the economy.
Is it possible the high trade deficits is because China fails to open up all their markets to us?

I hope I didn’t make you look foolish but it was Obama that said this in 2012 during his economic war with China.

Trump said trade deficits are bad and then made them worse. Let's be honest with ourselves for a change. Why is it that you defend the indefensible? Fear?

 

[Outlook]

Trump said trade deficits are bad and then made them worse. Let's be honest with ourselves for a change. Why is it that you defend the indefensible? Fear?

Wise up, it’s not just the trade deficits, it’s a lot of things. Obama knew it but his efforts fell short.
It’s the government subsidies, it the closed markets to US goods and services, the theft of technology, currency manipulation, human rights issues for the workers and environmental issues.
My fear, is the loss of manufacturing in this country because of our inability to compete.

Let’s see, do I want my $20.00 an hour job at the steel plant here in Gary, IN back or continue my Burger King job at minimum wage. That’s a tough decision. Obviously you have little concern about my family as long as you can get the crap that is manufactured in China cheap.

 

[iguanaman]

Wise up, it’s not just the trade deficits, it’s a lot of things. Obama knew it but his efforts fell short.
It’s the government subsidies, it the closed markets to US goods and services, the theft of technology, currency manipulation, human rights issues for the workers and environmental issues.
My fear, is the loss of manufacturing in this country because of our inability to compete.

Let’s see, do I want my $20.00 an hour job at the steel plant here in Gary, IN back or continue my Burger King job at minimum wage. That’s a tough decision. Obviously you have little concern about my family as long as you can get the crap that is manufactured in China cheap.

Talk is cheap and Trump's big talking has given us poor results. He's a buffoon and China will never change while he is in office. You have been conned and that is really what you are afraid of. BTW Trump's tariffs on steel have made our goods too expensive to sell overseas. Americans are paying the highest steel prices in the world and that effects anything made with steel. Trump says bend over and you beg for more.

 

[Bullseye]

The rest of the article can be found here.

He's doing this for Christmas! And it creates the type of financial volatility that market makers just lap up.

The CCP will view this as a sign of weakness.

Or, a chance to make a face-saving move to resolve the problems. Given China's Hong Kong problem and a weakening economy giving China some wiggle room might be a smart move.

 

[Bullseye]

That's why he had a record trade deficit last year. Because he is "winning" Right?

Record U.S. trade deficit in 2018 reflects failure of Trump’s trade policies | Economic Policy Institute

Excess spending is a bipartisan problem that has existed for decades.

 

[iguanaman]

Excess spending is a bipartisan problem that has existed for decades.

LOL Is that what you said when Obama was in office? How can you justify trillions in tax cuts then?

 

[Outlook]

Talk is cheap and Trump's big talking has given us poor results. He's a buffoon and China will never change while he is in office. You have been conned and that is really what you are afraid of. BTW Trump's tariffs on steel have made our goods too expensive to sell overseas. Americans are paying the highest steel prices in the world and that effects anything made with steel. Trump says bend over and you beg for more.

You think China will change when there is someone else in office?
Why didn’t China change during the Obama years?
How are Trump’s tariffs making steel too expense to sell overseas?
Our steel is more expensive because Chinese government subsidies their steel manufacturing, because they pay their workers S*** and because they ignore environmental concerns.