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

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

  1. s002wjh

    s002wjh Well-Known Member

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    we have very few item that can sell to china, face it we wont export any high tech stuff to china anyway, that only left with agriculture, auto, airplane and energy sectors.
     
  2. s002wjh

    s002wjh Well-Known Member

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    its the beginning ppl afraid whats coming after it.
     
  3. drluggit

    drluggit Well-Known Member Donor

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    Afraid? Of what? Trading parity? Thanks for the laugh though...
     
  4. s002wjh

    s002wjh Well-Known Member

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    hmm maybe stock drop, economy growth drop, cost of goods go up. use your brain whats the cons of trade wars.
     
    Last edited: Apr 2, 2018
  5. drluggit

    drluggit Well-Known Member Donor

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    Well, I take it then that you don't, or are not aware of the trade barriers in China? I suppose you just don't even care?
     
  6. Blinda Vaganto

    Blinda Vaganto Well-Known Member Donor

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    China supports Kim's regime in North Korea. This fact alone justifies sanctions.
     
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  7. s002wjh

    s002wjh Well-Known Member

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    I do know china trade barriers, but trade wars is not gonna help, certainly not gonna force authoritarian govt like china to back down especially its president is made for life now. And American pays higher cost on consumer goods. Futhermore, the CEO of US company care more about those trade barrier, cause it affect their profit directly. While a trade war directly affect avg americans and company profits.

    China will just shift its import to other countries, and now trump piss off EU and other allies no one gonna go with US on China trade issues.
     
    Last edited: Apr 2, 2018
  8. s002wjh

    s002wjh Well-Known Member

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    if I have a penny for every country that doesn't agree with us on something, ill be rich now!! And you think china will just back off and help US get rid of kim now after trade wars or they and Russia start sending more oil and goods to NK now. its just make situation worst, not better. Kim would be the happiest man if we threaten china with trade war if they don't stop him. it basically pit China/Russia against US where before was China/Russia support trade sanction on NK during UN vote.
     
    Last edited: Apr 2, 2018
  9. Draco

    Draco Well-Known Member

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    Exactly, the whole thing is meant to just be hyper partisan screaming about how "the sky is falling and we will lose it all!".

    Give it a rest.

    I am in South East Asia twice per year and the talk of the town over there is how China is losing the manufacturing base they built their economy on because they are longer the cheapest nation to build things in. Products are being outsourced to Indonesia and the outlaying nations outside of China and unless they make a huge change, China is going to be in for some big pains themselves.

    It's hilarious to watch the song and dance of the media as they spin from one foot to the other.

    This article was from two days ago "China growth stronger than expected"
    https://www.reuters.com/article/chi...nger-than-expected-official-pmi-idUSL3N1RB37T

    This one was from 14 hours ago "Chine see's factory growth cool a four month low"
    https://www.reuters.com/article/us-...ls-to-four-month-low-caixin-pmi-idUSKCN1H9092

    While the two measurements often diverge from one another, the hysteria that comes out of the media now days is nothing short of a joke to watch.

    The media is dead, go along with your day, everything will be fine
     
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  10. Draco

    Draco Well-Known Member

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    lol, you have an interesting grasp of macro economics on a geopolitical level. Remind me never to invest in your company
     
  11. s002wjh

    s002wjh Well-Known Member

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    better than your understand of trade wars, or are you one of those think trade wars is easy to win.
     
  12. El Kabosh

    El Kabosh Well-Known Member

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    I was in Mexico once listening to Mexicans complain how China was taking all their jobs away....funny world isn't it!
     
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  13. s002wjh

    s002wjh Well-Known Member

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    china wage is always on the rising, low tech such as textile are moved to Vietnam, SE asia, india, those never come back to US. what china doing now is transition from low-mid tech to high tech and service economy and use its own consumer as driven force. So ppl think tariff will bring back job to US, give it up, either its made by robots or shift to other even cheaper nation to be produced.
     
  14. ronv

    ronv Well-Known Member

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    Yep, I was in the disk drive business. We followed cheap labor for years. But, from your link:
    China is aiming for economic growth of around 6.5 percent this year, the same target as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said in March.
     
  15. MissingMayor

    MissingMayor Well-Known Member

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    Given that your previous post's advice was the "ignorance is bliss" economic theory, you probably shouldn't talk.
     
  16. One Mind

    One Mind Well-Known Member Past Donor

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    Principles that benefit a nation never change regardless of technology. Your mistake is that you actually believe that they do. The Founders had it right, for they were wise. Wisdom allows one to cut through the chaff.

    Of course trade is included today in the offshoring of our economy, for greater profits for the top. It is what drove so called free trade since Bush Sr. Free trade equals in large part the offshoring to slave labor, then shipping those goods back here to sell, for the people who make them in china could not afford them. We could. For now anyways.

    The american people need a certain amount of goods and services each year, for their standard of living and survival. And then there is the fact that if our own people provide those goods and services, they will have jobs, in which to buy those goods and services. I know, it sounds simple, because well, it is basic, and very simple. If they earn enough to have what is called a living wage, which is enough to live on without welfare, only the providing of goods and services will provide that. So then what happens when you offshore jobs that paid living wages and replaced many of them with low wage, welfare drawing jobs in the service sector? Logically what happens? No, not rocket science or even high brow ideological driven economics.

    And so, when any nation runs a trade deficit, what does this mean in so far as jobs and income? Again, the simple answer is the right one, the factual one. So, deficits represent jobs that our people could have used, but instead of using our own people to make what is consumed, corporations instead offshore to slave labor, a buck an hour, and then use our consumer market as a parasite uses a host . For their slave labor cannot afford to buy what they are making.

    China wants to export more than they import in goods. And they do. But since so called free trade, offshoring to slave labor is not done in the interest of america or her people, but in the interest of our elites, banksters, wall street, MNCs, our trade policy is dictated by not what is good for america and americans but only in what is good for our elites. And so many bought into this, while not understanding what is driving it.

    Trade deficits once upon a time in america, in the sane era, unacceptable. But now it is acceptable because of the benefits that is only realized by the elites. Who does a trade war hurt the most? The elites, especially if they are invested in using slave labor in china, or vietnam, mexico, etc. What is it that you guy from china or mexico, that could not be made here, as it once was? Nothing. Sure, it would cost more for we cannot pay americans a buck an hour, and if we did they could not even buy goods from cheap labor in china. And yet, we still bought american made goods when we paid living wages to make them. That we did it for most of our history seems to be forgotten. Free trade cheap labor globalism is nothing but the newest scheme, helped along by technology, to send more wealth to the top. That people fell for this ruse is astounding, but expected. For ideology dumbs down people. Hell, clinton even owned up to his mistake with nafta. He said if he had known the outcome, he would have never signed it. I doubt that though.
     
  17. BleedingHeadKen

    BleedingHeadKen Well-Known Member Past Donor

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    The producers who rely on protectionism as a form of welfare will win.
     
  18. Promise Hero

    Promise Hero Banned

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    Trump always likes to spew propaganda/ Lol. So now we hear that because China exports 400 B in goods to the U.S.they're in trouble. Except our giant consumer market is dependent on China for inexpensive products. It would be folly to believe that China doesn't have the capacity to gradually put tariffs on their billions of dollars of goods going to the U.S. If Trump applies Tariffs to other countries as well if could spell economic disaster for the U.S. History has proven this to us. Of course Trump has no sense of history or any sense at all.

    "Trump Wants to Impose Steel Tariffs. It Didn't Work for Bush"
    [​IMG]
    Justin Worland,
    TimeMarch 1, 2018

    "And, in fact, the European Union ended up hitting Bush where it hurt. The bloc planned tariffs on a wide range of products, including many produced in key swing states where job losses could hurt Bush’s chances of re-election. In late 2003, Bush reversed the sanctions in a move that would be branded as a flip flop."

    https://www.yahoo.com/news/president-trump-wants-impose-tariffs-191309568.html
     
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  19. PT78

    PT78 Banned

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  20. Thedimon

    Thedimon Banned

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    In a few days Trump will fart a loud and wet one and Dow will lose another 500 points.
    Those traders are hysterical! Wait a few days and Dow will get back to where it was.
     
  21. PT78

    PT78 Banned

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    You mean back to 26,000+? In a few days?

    LOL...you want a bet?
     
  22. Thedimon

    Thedimon Banned

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    Maybe not in a few days, but fairly soon. I used to do accounting for mutual funds, watching markets was part of my job. Market dips based on random news are nothing to be concerned about.
     
  23. PT78

    PT78 Banned

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    And I have been an investor for over 20 years.

    No one with a properly working brain on Wall Street thought Trump's tariffs were anything but the height of stupidity. He was warned...but he ignored the big brains on Wall Street and is attempting to do something that was proven foolish way back in the 1930's.


    Random news?

    The tariff nonsense is not 'random news'. This is a policy that Trump has been hinting at since the campaign. And now he is trying to carry it out.

    And every time he does - the markets fall.

    I will bet you that - outside of a war/major terrorist attack/Fed intervention - so long as Trump keeps pushing these childish tariffs, the DOW will not see 26,616 (the all time high) again for at least 3 months...minimum.
     
    Last edited: Apr 2, 2018
  24. Thedimon

    Thedimon Banned

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    Trumps bark is worse than his bite. Look at exemptions for steel and aluminum for Canada and Mexico.
    He makes a big splash and then backs off.
    The news that would make me worry are major layoffs, inflation, giant corporation becoming insolvent, etc. things in that category mean that recession is coming and you should rebalance your 401k.
     
  25. PT78

    PT78 Banned

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    We shall see.
     

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