CHINA retaliates with tariffs on $75Billion of U.S.imports.

As rationalizations go I suppose that one is as good or bad as most. But pretending Don's impulsive acts are predictable because he's a "mercantilist" is just plain silly. How long did it take to come up with some way to excuse his idiocy anyway? Neither he or his staff knows what he is going to do from one day to the next.
He tweeted this..........."As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great..."......................which calls in to question if he even understood what the nature of the Jackson Hole meeting was. Did he thinkm they were going to announce a rate cut today? Seems like he did.
Then came his temper tantrum......oops...........declaration..........that US companies should pull out of China. Truer words were never spoken than when Hillary said the Divider-in-Chief does not have the temperament to be prez.

The month a shadow fell on Trump’s economy
Faced with internal warnings about a slowdown, President Trump pursued chaotic, contradictory responses.

"Administration officials have scrambled this week to assemble a menu of actions Trump could take to avert an economic downturn. Few aides have a firm sense of what steps he would seriously consider, in part because he keeps changing his mind."

"This article is based on interviews with more than 25 current and former administration officials, lawmakers, and external advisers who have been in contact with Trump and his team throughout August. Some spoke on the condition of anonymity because the White House has been requesting that allies and aides keep its economic message intact."

https://www.washingtonpost.com/business/2019/08/22/trump-economy-month-chaotic-response/

If you have access to the Post this is a terrific article to read giving insight in to the disorganization and chaos inside the WH.

 

I don't think he actualy wants anyone to pull out of China. And he knows they won't. He's just putting on a show pretending to care. Outsourcing has been good for his company, and he really loves it.

 

Remember when Repubs lit their hair on fire and screamed about Obama picking "winners and losers" in the market? It's all roses and MAGA when Don does it.

Shares of companies that manufacture in China plunge after Trump orders them to move
https://www.cnbc.com/2019/08/23/sha...a-plunge-after-trump-orders-them-to-move.html

 

Companies like GM,Deere,Caterpillar and Boeing which are our large exporters to China will see their earnings severely diminished by his idiotic tariff wars.

 

"I hereby order ..." Pompous ass. That's as bad as yesterday's "I am the chosen one."

If he continues to do this kind of damage through sheer incompetence, the sort of damage that could have a dire effect on economies on a global scale, can't we invoke the 25th Amendment?

 

Tillerson didn't equivocate. He called him "a f..ing moron!" in front of witnesses at the Pentagon. Tillerson was right. (I'd like to have that on a tee shirt.

 

Dirty Donald JUST raised the tariffs on $250 billion of Chinese imports to 15% from 10%.

 

Those are some of our biggest employers, too. The damage is going to be severe, and all because Trump is an ignoramous where international trade is concerned, and no one in his administration has the stones to explain it to him.

Trumpsters: are you tired of winning yet?

 

These are final results of our day on Wall Street. Trump's precipitated drop on stocks is far worse than earlier. The Dow ended up off 623 points, reducing the Dow to 25,629. that is 81 points below March 15 when Trump started his trade war with China. The Nasdaq was off 240 points and the S&P 76.

What does all that mean? Because of Trump's tweets today, for the fourth time in a month, he cost millions of Americans to permanently lose principle in their retirement investment accounts. There are many doubters of that statement, but here is how that works.

It is really quite simple. It is 4th grade math.

An IRA has $100,000 dollars in it. Because of Trump's announcement the account loses $5,000. So now the account is down to $95,000. Follow me so far?

Due to market changes, at some point the account gains $5,000. So now the account is back up to $100,000. So, the account didn't lose money. Right?

WRONG! If the account had not lost the money in the first place, when market changes caused it to gain $5,000, the account would have $105,000 in it, not $100,000. The $5,000 lost because of Trump is permanent.

Sorry about that. I mean it. I lost, too, but I'm mostly in bonds. Too old to gamble.

Now I know what some are going to say. Some will say that is ridiculous or something similar. Some will lecture me on the stock market and investing. But no will be able to tell me why the 4th grade math is ridiculous or something similar. That's because the 4th grade math is right on.

Some will say, "Nothing is permanent until it is sold." That argument is made to counter selling stocks because of a downward trend. It has nothing to do with loss of principle, which is what I am talking about.

Thank you Mr. President. I look forward to your next tweet. Praise the Lord. It is the weekend. Trump can't do anymore damage until Monday.

 

That is not quite right.



Donald J. Trump ✔ @realDonaldTrump


Replying to @realDonaldTrump
...unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%...



Donald J. Trump ✔ @realDonaldTrump


Replying to @realDonaldTrump
...Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!

Clever wording in that last. The 10% tariff was to take effect on September 1st. Because he knows Americans pay his tariffs and he knows the devastating effect of this tariff, Trump postponed that tariff until December 15.

Trump didn't mention that.

If he imposes what now is a 15% tariff on popular goods like computers, cellphones, sporting gear, clothing, tennis shoes, etc. Trump can kiss his reelection goodby along with several Republican Senators and representatives.

Trump waited until the market closed before sending those tweets.

 

Dirty Donald is hell bent on destroying the world economy.

 

We do? We get cheap products, at the cost of lost manufacturing and jobs that pay a living wage.

Mercantilism is a component of collectivist societies.

That's like saying nobody wins a fist fight. Probably right, but I have a backbone and some things are worth fighting for.

Businesses are suffering?

They sent their manufacturing overseas, laid off US workers, producing their products by slave labor, and are now crying they have to pay tariffs? Too bad.

We impose labor laws in this country to protect workers. The global labor market is not a level playing field allowing corporations to exploit third world labor to maximize profits while laying off US workers.

That along with how China manipulates currency and stifles US imports... you just support being walked all over.

 

https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china

We are the number 1 importer of China goods...

China is the number 3 importer of US goods.

China exports about 3 times more to the US than we export to them.

Leverage.

 

Our capitalist companies voluntarily took our manufacturing overseas to China and other countries where they could make stuff cheaper then brought those goods here and sold them at even higher prices than when Americans were making them.Greed drove our manufacturing jobs overseas and now we are complaining???

 

I guess everyone understands how principle is permanently lost when Trump or something else causes the stock market to drop.

It hasn't gotten beyond my notice that Trump fans are avoiding this issue. They are doing it on related threads, too. They know their boy really screwed up yesterday and it could cost Trump and Congressional Republicans to lose reelection.

 

Dirty Donald is deliberately goading Fed.Chairman Powell trying to make him cut rates which will benefit the heavily indebted Trump companies tremendously if they can reduce the rates on their corporate debt.For once there is method in his madness,he and his families personal gains.

 

Trump heads into the G-7 summit in coastal France more isolated than ever — and perhaps never more in need of the international coordination. Unfortunately, he has repeatedly assailed his G-7 partners.

This is a huge mistake. Trump has staked out a trade war with China, and the smart thing to do was to encourage our allies to partner with him in his trade war. All agree China is guilty of excesses and manipulation in its trading practices.

Instead, he has consistently attacked our allies much to the pleasure of the communist dictator of Russia, Vladimir Putin.

 

It is just when I think Donald Trump is an empty, spiritually vacuous being without a single core principle, I have to stop and remember he has been true blue in support to Putin's political and economic and final success. That does not thrill me, but at least I know he has one thing in which he believes.

And none of that will help him with the G7, who he needs as allies and treats as enemies.

 

Voluntarily my ass American tax and regulatory policy all but drove them out the in some cases all but tacitly outlawing some manufacturing sectors as you'd like to do with coal.

 

You're like Baghdad Bob, but you work for China instead?

 

The sheer idiocy of most of the leftist crap in this thread is all but beyond belief. Hell even Chuck Schumer has figured it out. Trade is only a side bar we either rein in China's mercantilist excesses now or we may well find our selves on the wrong side of a shooting war in a few decades.

Yes that's right, it is China, not Trump, that is behaving in a mercantilist dare I say it - damn straight I do - imperialist fashion. Trump's punitive tariffs vis a vis China are a means to an end not an end in themselves. But leftist and assorted other never Trumpers would rather see China dominate the world than admit that Trump may actually be right this time around.

 

It is not China who is sailing warships in the Gulf of Mexico, it is the US having their ships in the South China sea, threatening military force while engaging in the trade war. Now, who is the imperialist?

Second, the US engages in industrial espionage and other trade shenanigans as well, they are in no position to call out China.

Third, the US is free to finance projects in foreign countries, like airports, infrastructure, etc. like China does, thus gaining more influence. The US doesn't, however, why?

 

What utter sophistry. The South China sea borders on at least six different countries many of whom are longstanding allies and all of whom have better human rights records than China (sadly that isn't a particularly high bar) China has created some islands out of whole cloth in an attempt to control what is a international not a Chinese maritime trade route. We are there as a counter balance to Chinese imperialism and aggression against other countries that also use the area. It is clear sir that what you know about the area would fit on a fairly small postage stamp with significant amounts of space left over. Come back after you do a little study on the South China Sea and the geopolitics there of.

 

OUR HUMAN RIGHTS record is not exactly stellar just ask the families who have been separated at our borders.How many have died while in custody or contracted diseases??

 

China's consumer spending was $10.34T last year, our consumer spending was %13.73T

https://www.scmp.com/economy/china-...-spending-expected-weaken-further-year-result

https://www.zerohedge.com/news/2019-09-07/visualizing-86-trillion-world-economy-one-chart