China announces it's imposing new tariffs on 128 US products

Discussion in 'Latest US & World News' started by PT78, Apr 1, 2018.

  1. PT78

    PT78 Banned

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    ''China is implementing new tariffs on meat, fruit and other products from the U.S. as retaliation for American duties, heightening fears of a potential trade war between the world's two largest economies.

    Beijing's latest move, announced by its finance ministry in a statementdated April 1, is direct retaliation against taxes approved by President Donald Trump on imported steel and aluminum. Chinese officials had been warning over the last few weeks that their country would take action against the U.S.

    The tariffs begin on Monday, the finance ministry statement said.


    China's Customs Tariff Commission is increasing the tariff rate on pork products and aluminum scrap by 25 percent. It's also imposing a new 15 percent tariff on 120 other imported U.S. commodities, from almonds to apples and berries.

    All told, the extra tariffs will hit 128 kinds of U.S. products, multiple outlets reported. The list of new duties matches the proposed list released by the government on March 23, according to Reuters.'

    https://www.cnbc.com/2018/04/01/chi...n-us-meat-and-fruit-amid-trade-war-fears.html


    And so the trade war begins?
     
  2. trucker

    trucker Well-Known Member Past Donor

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    it not how it begins, its who finishes it on top:banana:
     
    Last edited: Apr 1, 2018
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  3. ronv

    ronv Well-Known Member

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    Get up early to watch the market reaction.
    That's kind of a big poke in the nose considering we import less that $1 billion in steel.
     
  4. trucker

    trucker Well-Known Member Past Donor

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    but only down -53 on the futures now i see
     
    Last edited: Apr 2, 2018
  5. PT78

    PT78 Banned

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    It truly staggers my mind how incredibly stupid Trump is.

    Almost every respected person on Wall Street screams at the guy to not start with his dinosaur 'tariff' idea from the 1930's.

    The arrogant, senile, moron does it anyway.

    :roll:

    A POTUS that ignores what Wall Street says is a stupid POTUS.
     
    Last edited: Apr 2, 2018
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  6. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    I wonder if that means the Chinese will buy Australian beef instead
     
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  7. PT78

    PT78 Banned

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  8. trucker

    trucker Well-Known Member Past Donor

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    Last edited: Apr 2, 2018
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  9. ronv

    ronv Well-Known Member

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  10. s002wjh

    s002wjh Well-Known Member

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    no one finish up, its lose lose situation. this especially hurt for US pork industry, since most those farmer vote for trump lol. China is either 2nd/3rd largest of US pork, beef, chicken customer etc etc. and they still have cards to play such as soybean, corn, and other agriculture they import from US. and they are always 1-3rd import of US agriculture stuff. guess who those farmer vote for.

    oh be prepare stock to drop like a rock, if this escalate, now I need figure out what area I withdraw my 401k etc to
     
    Last edited: Apr 2, 2018
  11. Josephwalker

    Josephwalker Banned

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    Somebody starts shooting at you and you decide not to shoot back for a while. Finally when you see they are not going to stop and you are suffering mounting wounds you decide to start shooting back. Then your opponent fires even more shots your direction. You had two chioces here. Do you die a long protracted death as you keep taking hits without fighting back and being sure to ultimately lose or do you join the battle and escalate it but give yourself a chance to be victorious? A man chooses the second choice while a pathetic little coward chooses the first. Which are you?
     
    Last edited: Apr 2, 2018
  12. Draco

    Draco Well-Known Member

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    You guys sure all the sudden care about Wall Street a lot....

    China exports almost $400 Billion annually to the US while we send barely $20, less than $1B of it in pork. The only stock drop that is coming is the correction that is needed since the "Trump Bump" which was stupid in the first place.

    In the long run making tarriffs on an equal playing field to what China does to us is a good thing for the US economy. If the best shot you got to hate on Trump is that pork farmers will turn blue I doubt he cares.

    This is a long term issue and it's a shame that hyper partisans turn into something so political.
     
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  13. s002wjh

    s002wjh Well-Known Member

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    right first pork farmer, then wine farmer, then soybean and corn farmer, then boeing manufacu worker etc etc. of course the consumer goods price go up and up. i'm sure a lot ppl worry about stock since many ppl has retirement plan and other plan in place such as fidelity etc. Correction due to economy out of control of potus can't do anything with that, but its cause by a single person, guess who get the blame.
     
    Last edited: Apr 2, 2018
  14. Draco

    Draco Well-Known Member

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    The stock market has has gone from 18,000 to 24,000 in a year with Trump as President. That also was stupid and a knee jerk reaction to someone who was a businessman coming into office.

    So if you want to blame him for this now, are you also going to give him credit for such an incredibly large jump? Pretty sure it is the largest spike any President has seen yet you were silent then, this is an obvious hit piece where you are grasping at straws.

    $20Billion dollars is nothing, even if China literally stopped buying 100% of of ANYTHING from the US it would be a drop in the bucket. This hyper partisan pandering to all the sudden act like Wall Street is gods gift is annoying considering for the last year everyone said "The Stock Market doesn't matter!"

    We just sold double that in missiles to Poland, gonna give Trump credit for that? lol, god I hate that I have to defend Trump because he really is an idiot, but you guys who want to blame evrything that goes wrong on him are just silly partisans and it is flat out annoying. China has massive import tarrifs on anything in the US and to try to act like Trump is "unfair" by playing that same hand back at them is ridiculous.

    Now all the sudden you are worried about a few small exports to China? Give me a break, this is just another Anti-Trump post. I don't even like the guy but the are easy to spot and getting annoying.

    For instane Pork last year had a MASSIVE increase and China was only #3 as to who we exported to, but did you hear anything about Trump then? No, of course not, this is just another Trump hit piece and that is all. Most people just ignore this unless they are the 20% of hyper Progressives that simply hate Trump like the OP
     
    Last edited: Apr 2, 2018
  15. Jeannette

    Jeannette Well-Known Member Donor

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    China had said previously, that it will impose tariffs on products from states that voted for Trump. Now that China has a strategic partnership with Russia, it is self sufficient in just about everything.

    China has been planning for the day the US will turn on them, and are trying to increase wages and create a domestic market for their goods. I think they see an economic collapse in the West, (heaven help us), and like Russia have been hoarding gold like mad. Basically what China and Russia are doing, is splitting the world in half.
     
  16. ronv

    ronv Well-Known Member

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    I'll be the first to admit I have more in the market than I should have. But Obama more than doubled that for me so I get grumpy when Spanky pisses it away

    I think your missing a zero.
    I don't know what point you are trying to make, but we only import about $700 million in steel from China.

    He should care about the pork farmers as well as the people in this country that build things with steel. That's the problem. He has no idea what's going on.
    Here is an example that was on my start page this morning.
    https://www.msn.com/en-us/money/mar...trumps-new-tariffs/ar-AAvhP1g?ocid=spartandhp
     
  17. One Mind

    One Mind Well-Known Member Past Donor

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    The tariffs put into place by our wise founders is what created a strong, healthy, powerful america, once upon a time. Slave labor globalism, offshoring our economy didn't do it. We know what works, for we used it for most of our history. Only when the rubes bought into economic globalism did this nation, for average americans began to go down the tubes. And it elected trump.

    The US has never needed to export in order to have a decent economy, which btw, employed its own people which lead to the largest middle class in world history. Thanks to our founders. Very wise men, while the current elite driven thinking is stupidity in action. And yet the rubes bought into it, pissing all over basic economic common sense.
     
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  18. Draco

    Draco Well-Known Member

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    We export $20B in TOTAL GOODS to China, they export $400B in TOTAL GOODS to the US. You really think this "trade war" is going to hurt us more?

    You are the one trying to bring up just steel, if this is truly a trade war there will be hits back and perhaps finally we can stop buying so much useless consumer crap from China and bring some manufacturing back to the States.

    While it will be more expensive for the rich, the poor will be able to have more jobs. This is basic economics and something that Democrats used to fight for, of course now that Trump is in office you just want to yell and scream at the top of your lungs.

    Kinda like you just gave credit for Obama "bringing the stock market up" after the knee jerk reaction of the market tanking in 08, now you refuse to give Trump credit for a massive increase on a market that was already rising.

    Your partisanship is showing my friend, it's old
     
  19. Draco

    Draco Well-Known Member

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    Exactly, it's like people want to find these buzz words to just attack whoever they don't like on the other side of the isle. The trade deficit is MASSIVE and if you try to sell any goods into China you are immediately hit with tariff's on anything. Of course no one wants to bring that up.

    This is just a Trump hit piece and no body cares except hyper partisan Progressives. If the stock market was something they really did care about, they would have been talking about the incredibly increase (over inflated) that has happened since Trump came into office.

    But of course, they are not ...

    Best part about it is, there HAS to be a correction, the market rose too fast and too far just becuase Trump was elected, there has to be a correction coming soon.
     
  20. ronv

    ronv Well-Known Member

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    It would seem your clock stopped quite a ways back in the past.
    Today the major American companies sell about half of their stuff overseas.
    Study a company like Apple. Then make believe they moved production to America.
    Don't think about what happens to American sales think about what happens to offshore sales when Apples prices are way out of line with the competition.
    So here is what you get. IPhones cost more so maybe you put tariffs on imports. OK, now you just have more expensive phones.
    Apple looses 1/2 it business to Samsung or whoever.
    Now you need to decide where to build a plant to house a few hundred thousand employees, where to house them etc. Oh, and since we are pretty close to full employment where to find those people.
    [​IMG]
     
  21. MissingMayor

    MissingMayor Well-Known Member

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    Down 500 now.
     
  22. ronv

    ronv Well-Known Member

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    U.S.-China Trade Facts

    U.S. goods and services trade with China totaled an estimated $648.5 billion in 2016. Exports were $169.8 billion; imports were $478.8 billion. The U.S. goods and services trade deficit with China was $385 billion in 2016.

    China is currently our largest goods trading partner with $578.2 billion in total (two way) goods trade during 2016. Goods exports totaled $115.6 billion; goods imports totaled $462.6 billion. The U.S. goods trade deficit with China was $347.0 billion in 2016.

    Trade in services with China (exports and imports) totaled an estimated $70.3 billion in 2016. Services exports were $54.2 billion; services imports were $16.1 billion. The U.S. services trade surplus with China was $38.0 billion in 2016.

    https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china
    Trump's stock market was on the same curve as Obama's. And yes, I liked that curve.
    Unemployment is a little slower than Obama's curve, but that's probably because we are pretty close to full employment. So where are you going to find all these people to make shirts? Mexico?
     
  23. s002wjh

    s002wjh Well-Known Member

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    the stock up because he didn't put tariff on EU/China last year etc, which will result in trade wars, and I like that to be the case. Now not only I pay more for consumer good, but I lost money in 401k.

    wrong china import well over $100 billions of US goods, furthermore, US company make a lot $$$ in China, which if threatened it doesn't due well for employee here either. The so called small export is retaliation for the small steel/aluminium tariff which we import more from Canada and mexico anyway.

    where did you get the idea of massive increase of pork to china last year, it was always that way, any link or just BS.

    oh come on the missile sale is small compare to trade between china/US, and we can't run our economy selling military gears.
     
    Last edited: Apr 2, 2018
  24. s002wjh

    s002wjh Well-Known Member

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    self sufficient like NK, you can't compare todays world economy vs something century or even after WWII. Today, all the supply chain etc is tie together. Time change, adapted it.
     
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  25. drluggit

    drluggit Well-Known Member Donor

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    Roughly 2% of total US/China trade. Devastating....
     
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