SURVEY: Is a Trade War Looming?

[Scott]

With the imposition of new tariffs on a number of products from different countries and countermeasures, do you believe a significant trade war will happen?    Which of the following statements best describes your opinion?

 

[Samui Bodoh]

Yes, a trade war is looming.

 

It is not needed. It is preventable. And, it is coming.

 

The US under Donald Trump seems determined to screw up the world order in a (mistaken) belief that somehow they have been screwed over in the current global set up. As a matter of fact, the US has been the prime architect of the current global order and has been the prime beneficiary of it.

 

Yet, they seem determined to screw it all up.

 

I could give a rat's ass if the US wants to screw itself over; that is their business. However, as the US screws itself over, it'll wreak untold damage to everyone else along the way.

 

I would ask my many, many American friends; please get rid of this idiot before he does irreversible damage to everything, including global trade of which the US is the prime beneficiary.

 

Jesus wept!

 

Edited June 10, 2018 by Samui Bodoh
Lack of coffee and general anger

[FreddieRoyle]

I didn't see the "it will have a positive impact" option?

 

 On the other thread it was staggering to read Canada imposed a 270% on US dairy imports. 270%!!! The USA has been played like a fool for decades. The new sheriff in town will balance things up - fair for all - not just let foreign nations profit from our prior weak leadership.

 

 So yes, trade war = will result in fair trade = a good thing.

[Kiwiken]

I find it interesting that the US has applied tariffs now to NZ Steel and Aluminium exports to the USA. New Zealand levies no tariffs on any imported goods to NZ. So Donald Trump is a protectionist idiot. I doubt if We would retaliate against his silly tariffs but find laughable he can exempt Australia and not New Zealand.

New Zealand agriculture has always faced barriers when exporting to the USA. We have no subsidies for Farmers just we are damn competitive but still the USA puts up Barriers. Hypocrites!!!!! no other word to describe

[xylophone]

1 hour ago, FreddieRoyle said:

I didn't see the "it will have a positive impact" option?

 

 On the other thread it was staggering to read Canada imposed a 270% on US dairy imports. 270%!!! The USA has been played like a fool for decades. The new sheriff in town will balance things up - fair for all - not just let foreign nations profit from our prior weak leadership.

 

 So yes, trade war = will result in fair trade = a good thing.

Likes, damned lies and statistics!!

 

Two sides to this argument inasmuch as the US subsidises the dairy industry to the tune of 73% of its output, whereas the Canadian government doesn't, so totally unfair for Canada if US dairy allowed in with no tariffs...…….hence the NECESSARY tariffs to try to make a level playing field.

 

Of course this is too much to fathom for a US president who has the brainpower of a pickled squid.

Edited June 10, 2018 by xylophone

[Anak Nakal]

Trump not understand, only think parade.

Now US no friend. 

Stupid!

[Credo]

1 hour ago, FreddieRoyle said:

I didn't see the "it will have a positive impact" option?

 

 On the other thread it was staggering to read Canada imposed a 270% on US dairy imports. 270%!!! The USA has been played like a fool for decades. The new sheriff in town will balance things up - fair for all - not just let foreign nations profit from our prior weak leadership.

 

 So yes, trade war = will result in fair trade = a good thing.

In his usual nonsensical manner, Trump is making a single allegation that is simplistic.   Agriculture is protected in numerous and varied ways by governments and it is, in part, done for national security.   Do you want to live in a country that no longer grows it's own food?   Do you think that would be a good idea, so, yes, protectionism is the order of the day for agriculture.   

 

Some countries have tariffs, some countries have subsidies, but they are all geared at protecting agriculture.   The US makes it very, very hard for many agricultural products to get into the US.   The EU has often had a big issue with these restrictions.   Likewise,  the EU comes up with all kinds of restrictions on US agricultural products.   

 

The milk tariff is a canard.   

 

 

[Credo]

 

Trump throws G-7 into disarray with tweets after he leaves

 

LA MALBAIE, Quebec (AP) — Lashing out at the longtime U.S. ally and northern neighbor, President Donald Trump tweeted that Canadian Prime Minister Justin Trudeau is "dishonest & weak" and that the U.S. was pulling back its endorsement of the G-7 summit's communique in part because of what he called Trudeau's "false statements" at a news conference.

 

In an extraordinary set of tweets aboard Air Force One, on its way to Singapore for Tuesday's summit with North Korea's Kim Jong Un, Trump threw the G-7 summit into disarray Saturday and threatened to escalate his trade war just as Canada released the G-7's official communique. Its statement took a generally positive view of the leaders' positions on trade matters while acknowledging tensions with the U.S.

 

https://www.yahoo.com/news/trump-trades-easy-banter-allies-differences-persist-050350738--finance.html

[otherstuff1957]

Trump is correct in that many of the existing "Free Trade" agreements favor wealthy investors and harm the working class.  However, instead of beginning the slow, complex task of revising the current agreements he has made matters even worse, while attacking the US's closest allies! ?

 

The man is a complete idiot.

[coldmike]

2 hours ago, FreddieRoyle said:

I didn't see the "it will have a positive impact" option?

 

 On the other thread it was staggering to read Canada imposed a 270% on US dairy imports. 270%!!! The USA has been played like a fool for decades. The new sheriff in town will balance things up - fair for all - not just let foreign nations profit from our prior weak leadership.

 

 So yes, trade war = will result in fair trade = a good thing.

Canada has such a HUGE population that they will force the US to their knees!  Reality is that Canada still imports about 10% of their dairy and USA restricts dairy imports to about 3%.  Canada’s huge tarif is wrong, but really minor in the big picture, especially with your best friend.  The new sheriff doesn’t study or understand ANY issue and makes every decision on whoever whispered in his ear last.  The possibility that almost half of Americans buy into this style is so depressing.  My head is going to explode.  

[pegman]

1 hour ago, Credo said:

In his usual nonsensical manner, Trump is making a single allegation that is simplistic.   Agriculture is protected in numerous and varied ways by governments and it is, in part, done for national security.   Do you want to live in a country that no longer grows it's own food?   Do you think that would be a good idea, so, yes, protectionism is the order of the day for agriculture.   

 

Some countries have tariffs, some countries have subsidies, but they are all geared at protecting agriculture.   The US makes it very, very hard for many agricultural products to get into the US.   The EU has often had a big issue with these restrictions.   Likewise,  the EU comes up with all kinds of restrictions on US agricultural products.   

 

The milk tariff is a canard.   

 

 

Of course it is. The Americans subsidize farms to the tune of >$24b yearly.

 

Trump is treating his country's best allies like he would sub-contractors on a building site. They ain't buying his bluster.  As for Canada there is a deficit/surplus depending on what is included in the tally of goods & services. 3/4 of their trade imbalance is with China but he is bending over backwards to protect Chinese companies. Knowing Trump it is likely for back door payments like those he got in Indonesia.

 

What is not included is contribution to share equity and profits from Canadian operations of American food and retail corporations. 

What if Canadians get perturbed enough to stop buying at the 410 Walmart stores in Canada? I wonder what the Walton family would have to say about it. That is many more stores per cap than in the USA itself. 

The same could happen at the 98 Costco stores. Again, many more per cap that the USA. 

636 KFC

1450 McDonalds

1460 Starbucks

........

 

If that were to happen I guess the Americans could boycott our electricity and use candles instead. Same with coal rather than our natural gas. 

 

A couple of weeks ago Trump said Hoover did a great job with tariffs. Some how I don't think he got as far as the Depression of the 1930's in his history text book.

 

 

 

[pegman]

28 minutes ago, coldmike said:

Canada has such a HUGE population that they will force the US to their knees!  Reality is that Canada still imports about 10% of their dairy and USA restricts dairy imports to about 3%.  Canada’s huge tarif is wrong, but really minor in the big picture, especially with your best friend.  The new sheriff doesn’t study or understand ANY issue and makes every decision on whoever whispered in his ear last.  The possibility that almost half of Americans buy into this style is so depressing.  My head is going to explode.  

Trump doesn't have the balls to end farm subsidies so countries like Canada could end their tariffs. He is in enough trouble with soy bean and pork producers.

[Athens]

Any war has only negativ effects, prices going up inflation going up......trade comes to a hold, production going down...more people lose their jobs.

[Athens]

3 hours ago, otherstuff1957 said:

Trump is correct in that many of the existing "Free Trade" agreements favor wealthy investors and harm the working class.  However, instead of beginning the slow, complex task of revising the current agreements he has made matters even worse, while attacking the US's closest allies! ?

 

The man is a complete idiot.

No not at all, low import tax is like income tax, he reduced corporate tax by 50 pct to boost  production now he need an import tax to balance state finance......some one has to pay and that is you.....

[ToddinChonburi]

810 billion trade deficit.  Merkel has screwed the EU and she is very worried.  Trump is exposing all the corruption. 

[Jingthing]

8 minutes ago, ToddinChonburi said:

810 billion trade deficit.  Merkel has screwed the EU and she is very worried.  Trump is exposing all the corruption. 

"trump" IS the corruption. 

[Jingthing]

4 hours ago, Anak Nakal said:

Trump not understand, only think parade.

Now US no friend. 

Stupid!

He sells himself as the great deal maker.

The opposite is true.

He is the great deal BREAKER.

He breaks important things up and then does nothing to replace them.

Like the way he's messing up the U.S. health care system, which wasn't perfect, but now it's much worse thanks to "trump". 

[Jingthing]

The trade war "trump" is fomenting will hurt many of his own base voters the most. Yet, they will like it. Because it's from the man they blindly worship. Yes, he's that good of a propagandist. He has amazing talent as a con man. 

[zydeco]

7 minutes ago, Jingthing said:

The trade war "trump" is fomenting will hurt many of his own base voters the most. Yet, they will like it. Because it's from the man they blindly worship. Yes, he's that good of a propagandist. He has amazing talent as a con man. 

Just like all the other predictions your political side made. Remember? The economy was going to implode. The stock market would collapse. Unemployment would soar. There would be nuclear war with North Korea. Wages would decrease. Wrong on all counts.

 

So, yes, bring on fair trade. And while we're at it, the US should leave NATO, close military bases in Europe. Get out of South Korea, Okinawa, and the Philippines. For fifty years, I've heard carping, complaining, and insults from Euros and some Asians about being "occupied" and "colonized."  Okay, you get your wish. Out we go. Take care of yourselves. And get ready to put a picture of Mao on your currencies.

[wwest5829]

Trade war effects already taking place as a result of the unilateral, bull in the China shop actions of The Donald. As in the case of consumer electronic surveillance, I must look toward the international community to protect me from the foolish words, policies, actions of the US administration. Signen .... an American Citizen.

[Grouse]

6 hours ago, FreddieRoyle said:

I didn't see the "it will have a positive impact" option?

 

 On the other thread it was staggering to read Canada imposed a 270% on US dairy imports. 270%!!! The USA has been played like a fool for decades. The new sheriff in town will balance things up - fair for all - not just let foreign nations profit from our prior weak leadership.

 

 So yes, trade war = will result in fair trade = a good thing.

You should read up a little more

 

The USA had a huge trade surplus with Canada on agricultural products

 

Canada operates a supply side system on dairy products to maintain quality standards and protect farmers

 

The USA has massive over production just the same as China producing too much steel

 

Typical populist shallow thinking

[Grouse]

13 minutes ago, zydeco said:

Just like all the other predictions your political side made. Remember? The economy was going to implode. The stock market would collapse. Unemployment would soar. There would be nuclear war with North Korea. Wages would decrease. Wrong on all counts.

 

So, yes, bring on fair trade. And while we're at it, the US should leave NATO, close military bases in Europe. Get out of South Korea, Okinawa, and the Philippines. For fifty years, I've heard carping, complaining, and insults from Euros and some Asians about being "occupied" and "colonized."  Okay, you get your wish. Out we go. Take care of yourselves. And get ready to put a picture of Mao on your currencies.

Great news! Watch the door doesn't hit you on the way out!

[Ulic]

3 hours ago, pegman said:

Of course it is. The Americans subsidize farms to the tune of >$24b yearly.

 

Trump is treating his country's best allies like he would sub-contractors on a building site. They ain't buying his bluster.  As for Canada there is a deficit/surplus depending on what is included in the tally of goods & services. 3/4 of their trade imbalance is with China but he is bending over backwards to protect Chinese companies. Knowing Trump it is likely for back door payments like those he got in Indonesia.

 

What is not included is contribution to share equity and profits from Canadian operations of American food and retail corporations. 

What if Canadians get perturbed enough to stop buying at the 410 Walmart stores in Canada? I wonder what the Walton family would have to say about it. That is many more stores per cap than in the USA itself. 

The same could happen at the 98 Costco stores. Again, many more per cap that the USA. 

636 KFC

1450 McDonalds

1460 Starbucks

........

 

If that were to happen I guess the Americans could boycott our electricity and use candles instead. Same with coal rather than our natural gas. 

 

A couple of weeks ago Trump said Hoover did a great job with tariffs. Some how I don't think he got as far as the Depression of the 1930's in his history text book.

 

 

 

I don't really care about the rest but leave my favorite COSTCO alone. 555

Open up another 100 stores. They are great for both consumers and staff.

[Basil B]

Just a realignment of trading agreements.

 

Trump has started something that will hurt America, he nether thought it through just like Briton and Brexit.

 

There will be retaliation with many countries just buying elsewhere and finding other markets for there goods.

 

The real winners are the investors who can predict what will happen.

[Brunolem]

6 hours ago, Samui Bodoh said:

 

The US under Donald Trump seems determined to screw up the world order in a (mistaken) belief that somehow they have been screwed over in the current global set up. As a matter of fact, the US has been the prime architect of the current global order and has been the prime beneficiary of it.

 

Yes!!!

Trump, and the hapless Larry Kudlow, forget one little thing: the dollar!

 

First, as the emitter of the reserve currency, the US is somehow constrained to run a trade deficit (Triffin dilemma).

Otherwise, how would a country such as Japan, for example, pay for its oil imports? (Yen not accepted).

 

Then, what are the large creditor countries (China, Japan, Middle East) doing with their trade surplus in dollars?

Well, they buy US bonds, a.k.a. debt, by the hundreds of billions!

In other words, they finance the US budget deficit and by extension the US army...and the US government in Washington, including Donald's paycheck!

If, as asked by the Golden Golem of Greatness, the deficit with China was reduced by 200 billion dollars, this money wouldn't be available for buying US bonds.

So, who would buy them?

 

Having said that, I am not yet convinced that we are heading for a trade war, because to start a war, you need at least two adversaries, and for the time being no one seems to be much interested in entering in such a conflict.

A real, hot, war on the other hand appears more likely since there are many who can't wait to show their muscles...

[Jeffrey346]

Can't wait till Trump finds out about Thailand's 300% import and VAT added to US car imports 

[MyFriend You]

I voted No it wouldn't have an impact on the WORLD ECOMOMY.  Reason:  It will only have an impact on certain countries' Big Business's bottom line.  They will be the reason it impacts on the rest of the world - they will raise prices to keep their bottom line the same as before.  So USA's intended tarrifs will not impact them, their own Big Business manganates will.

[MyFriend You]

9 minutes ago, Jeffrey346 said:

Can't wait till Trump finds out about Thailand's 300% import and VAT added to US car imports 

Our Embassy in Bangkok has been reporting that for dozens of years, so far has fell on deaf ears, maybe not now.  But the US doesn't import cars from Thailand, as far as I know, only car parts.

Edited June 10, 2018 by TunnelRat69

[Jeffrey346]

1 minute ago, TunnelRat69 said:

Our Embassy in Bangkok has been reporting that for dozens of years, so far has fell on deaf ears, maybe not now.  But the US doesn't import cars from Thailand, as far as I know, only car parts.

I'm not sure it's item for item.. I'm sure Trump can put a tariff on all items that come into the US.

[PhonThong]

2 hours ago, Jeffrey346 said:

Can't wait till Trump finds out about Thailand's 300% import and VAT added to US car imports 

It's already 100 %. Besides why would anyone want a U.S. made car in Thailand? Everyone drives on the wrong side of the road.