Trump threatens tariffs on all $500 billion of Chinese imports

https://www.reuters.com/article/us-...billion-of-chinese-imports-cnbc-idUSKBN1KA18Q

Trump threatens tariffs on all $500 billion of Chinese imports: CNBC
Susan Heavey, Doina Chiacu

WASHINGTON (Reuters) - President Donald Trump said he was ready to impose tariffs on all $500 billion of goods the U.S. imports from China, remarks that sent financial markets retreating and threatened to escalate a trade clash with the Asian giant.

“We’re down a tremendous amount,” Trump said in an interview about trade imbalances with China on CNBC broadcast on Friday. “I’m ready to go to 500.”

Around $505 billion of Chinese goods came into the United States in 2017, leading to a trade deficit of nearly $376 billion, U.S. government data shows.

The magnitude of the imbalance has continued into 2018, with Chinese imports totaling $205 billion in the first five months of the year and the deficit reaching $152 billion.

U.S. stock index futures, already down on trade worries, fell further after the interview. .INX .DJI

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I wonder where Trump will go from there, when this also fails?

 

Don't worry, you can always start another rumor that he can fail too.

 

I dunno where he will go, or what he will do next. I support him though, given trade deficits with china, since we got on this new ground with them, is in the trillions.

We have enabled and financed the rise of china into a potential threat. So that a few of us can max out their own income and profits, creating an even greater disparity in income than seen in the Gilded Age. That has consequences, and is destructive of America, from the bird's eye view.

China is much more of a threat than russia ever could be, given the size of the russian economy.

The US has been the main customer of china and the MNCs there who wanted the cheap labor, in order to max out profits. It is time to put america and americans first, which is long overdue and the people have suffered greatly because of that. So anything that trump does that takes us in this direction is a president serving the People, even if Princeton evidenced that congress has not represented the People in decades. But they have represented someone, a group, but that club is one that the average american, 300 million plus, are not a member of. I thought we had a Republic? A representative form of gov't? So why have, according to congressional record, why have the non elites not been represented by our representatives? But only special interests and the elites, along with the wall street banks and MNCs, that these elites own and profit from?

Regardless of the reason, the fact is, our average citizens have not been represented by DC for decades! And if a president wants to, like Trump, what happens? Well, sit back, open up a bottle of your favorite drink, and observe closely. Just pay attention to reality. Without the bias of tinted glasses, corrupting perception, logic, rationality and reason. Join in our club, if truth has any relevance in your daily existence.

 

Thats a good rumor

 

Are you actuslly claiming China is the reason for the massive wealth disparities in America?

And thinking Trump is really representing the average American is just silly. You should have tigured out who he really represents after the tax cut which did almost nothing for the average American and stacked hugh amounts more wealth in the hands of the rich. And wait till his tarriffs raise your Walmart bill.

 

Massive wealth is the reason for massive wealth disparities.
The more wealth a country has, the greater the disparity.

That what happens statistically when you add more numbers to a standard distribution curve.
Everyone has more money but the gap (between the two extremes), richest and poorest rises.

Anytime the gap between richest and poorest is rising, it is a good sign.
An economic indicator of a society that is getting richer.

 

I saw that Trump had announced he was going to do this.. He is off the deep -end again.. What a stupid gasbag he is.. China just announced investments of $150 million in the Middle East and Palestine.

Trump is so reactionary.. You'd think he was on the rag.

 

This is so true and the Socialist haters will refuse to admit it. The wealthy have their excess money tied up in investments. When America prospers, these investments increase in value. If you have a billion in investments and it goes up 10%, your worth increases by $100 million. Joe working smoo gets a $2 raise and his worth goes up by $4,000 a year. Economics 101.

 

Like in Venezuela? LOLOL

 

Oh no, a whole $150 million. We are surely doomed. Before you jump off the bridge, please note that $150 million is not even .0000001% of our economy.

 

China is getting the $150 million from American consumers who buy chinese imports

 

It makes me think he is stupid and desperate to "win." Not a good combination for America.

 

I know.. Trump is fixated on winning.. I don't think he is evil.. I think he is weak and stupid, arrogant and crude. Not a good combination for America.

 

Catch up, Mac.. Trump is hurting domestic pipelines and US farmers.

 

Keep your current job. There is no future for you in statistics.

 

If he were truly evil, I'm sure he would have ended up in serious legal trouble long before now, so yeah. Stupid, selfish, crude, and self-destructive and harmful to others by accident in a position such as the one he is in now.

 

But helping others

The world has to eat and we have food

Besides you just conceded that the American consumer is financing chinese political expansion

 

Because I don't use them to lie?

Sorry to take your favourite statistic away from you like that.
Leftonomics=fail.

 

Have you seen the income distribution figures for Venezuela then, or are you just making an assumption?

I would expect as the country has got poorer for the gap between rich and poor to have got smaller.

Example.
If you have $10 and lose 50%, and I have $1,000,000 and lose 50%
The gap between us has reduced from $999,990 to $499,995.
Halved.

If on the other hand you lose everything and I only lose $20 the gap between us has still been reduced by $10.

The gap will only be maintained if rich and poor lose money at the same rate, which of course they don't. When you reach zero you can't lose anymore. And the more you have the more you are able to lose.

So in socialist Venezuela what you have probably seen is a giant wealth redistribution from to rich to poor and the resulting economic damages which occur from spending your capital.
I expect the gap between rich and poor to have been greatly reduced. Don't you?

 

Do you even work? Or do you form this opinion being jacked into CNN all day? The tax breaks do nothing for the average American? My family... My wife and myself just our normal salaries have increased by $6,000 dollars. No catch. No tricks.. Just the tax breaks went into effect and the checks got bigger.

So keep trying to sell this BS opinion all the way to November because America may be gullible but it also can at least read its monthly deposits in their checking apps.

 

Translation : I am a leftist, Muslim, KSA propagandist opinion and will make up crap in any thread to discredit this President.

As to the OP. Good. Force Chinas hand. What are they going to do? They are screwing us. Nothing they can do will effect America as a whole. Sure go find isolated incidents of this and that small potatoes. We elect Presidents to look at the big picture. Correction. We elected this President for that. The previous ones were all in the bag

 

Deleted

 

lol.

 

If we take Trump's (made up to fool the population) desire to have all products being made in the US, that cost of living for Joe will come to more than the $4000 a year increase he received resulting in becoming relatively poorer.

 

Yes, with the proviso that some US domestic wages will rise, but basically yes.
However this does rather rely on the assumption that rival nations will not ultimately respond to Trump's demands by lowering tariffs.
Which is not an assumption I would be willing to take.

A more reasonable assumption is that rival countries will lower their tariffs in short order. Providing the opposite results to which you expect.

First foreign nations reduce their tariffs/USA raises their tariffs until a trade balance is achieved then both countries reduce their tariffs at an equal rate once trade parity is achieved.