Trump readies tariffs on $200 billion more Chinese goods despite talks -source

[rooster59]

Trump readies tariffs on $200 billion more Chinese goods despite talks -source

By Jeff Mason

 

FILE PHOTO: U.S. President Donald Trump holds an Oval Office meeting on preparations for hurricane Florence at the White House in Washington, U.S., September 11, 2018. REUTERS/Leah Millis/File Photo

 

WASHINGTON (Reuters) - U.S. President Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the matter said on Friday.

 

The timing for activating the additional tariffs was unclear.

 

The green light for the tariffs, first reported by Bloomberg, initially dragged U.S. stocks lower, fuelled drops in the Chinese yuan in offshore trading <CNH=EBS> and gains in the dollar index <.DXY>.

 

Trump, who had already imposed 25 percent tariffs on $50 billion of Chinese goods, said a week ago that he would be adding tariffs on another $200 billion in goods and had tariffs on another $267 billion in Chinese imports "ready to go on short notice if I want."

 

The Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring U.S. technologies and intellectual property and roll back high-tech industrial subsidies.

 

The White House said in a statement that Trump had been clear that he and his administration would continue to take action to address China's trade practices and encouraged Beijing to address U.S. concerns.

 

A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

 

The U.S. Trade Representative's office has said it was working to revise the list based on issues raised in public hearings and written submissions. In previous rounds of anti-China tariffs, it has taken one to two weeks to make list revisions and another two to three weeks to begin collecting tariffs.

 

The decision comes despite a Treasury invitation earlier this week to senior Chinese officials, including Vice Premier Liu He, for more talks to try to resolve trade differences between the world's two largest economies.

 

China's Foreign Ministry said it welcomed the invitation, but Trump later raised questions about it, saying on Twitter that he was under no pressure to make a deal with Beijing and that the United States "will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?"

 

A Treasury spokesman did not immediately respond to a query on the status of the China talks invitation. A USTR spokesman did not respond to queries about the tariffs.

 

The duties already levied on $50 billion worth of Chinese goods followed a study on China's intellectual property practices released earlier this year.

 

Adding in the $200 billion list and another $267 billion of Chinese goods, total imports from China facing tariffs would exceed the $505 billion in goods that the United States imported from China last year. But 2018 imports from China through July were up nearly 9 percent over the same period of 2017, according to U.S. Census Bureau data.

 

 

-- © Copyright Reuters 2018-09-15

[neeray]

This will backfire on Trump and the American economy. He is no match for the Chinese. He is no more capable of predicting the outcome than the basic layman (like me) is.

 

While I fully support the need to balance trade with China, a diplomatic approach, as opposed to a shotgun, would have been appropriate.

[sebastion]

This will backfire on Trump and the American economy. He is no match for the Chinese. He is no more capable of predicting the outcome than the basic layman (like me) is.
 
While I fully support the need to balance trade with China, a diplomatic approach, as opposed to a shotgun, would have been appropriate.

Actually the Chinese have the most to lose.
They lose their biggest trading partner and their export driven economy will drop like a stone.
China didn't count on this and don't know what to do.
Even a 5% GDP hit would put millions into poverty.

Sent from my EVA-L19 using Tapatalk

[neeray]

10 minutes ago, sebastion said:

Actually the Chinese have the most to lose.
They lose their biggest trading partner and their export driven economy will drop like a stone.
China didn't count on this and don't know what to do.
Even a 5% GDP hit would put millions into poverty.

Sent from my EVA-L19 using Tapatalk
 

"We'll see. We'll see how it turns out" (spoken in Trumpism speak).

 

There is nothing to say that China will lose their export business to America. America will still import but Chinese goods will cost them more through Trump "taxation". That creates inflation which will slow down the economy.

And of course there are many ways China can retaliate against American companies operating in China.

We'll see!

[mtls2005]

This seems like a bluff?

 

Surely this can't be legal for the administration to do?

 

A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

 

Handbags? National security threat? Really? Did China steal our stealth hand-bag technology?

 

 

[neeray]

2 minutes ago, mtls2005 said:

This seems like a bluff?

 

Surely this can't be legal for the administration to do?

 

A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

 

Handbags? National security threat? Really? Did China steal our stealth hand-bag technology?

 

 

"This seems like a bluff?"

President Bluff.

Same game he is playing with Canada.

[spidermike007]

Let's do the math. China has 3 to 4 trillion in cash. America is broke, with 20-25, possibly 30 trillion in debt and no cash surplus. Trump is about to harm the American economy in a big way. Never forget, he bankrupted five companies. Billions in debt he walked away from. So, he has alot of experience causing Americans financial distress. Not a particularly intelligent businessman. Stolen billions are alot easier than money earned honestly. 

 

Little Donny. The art of I cannot negotiate a deal to save my life. Damn. This president work is ALOT harder than I thought! Nobody seems to like me. Wonder why?

[Tug]

Hey Donald that will make them more inclined to help with n Korea ya jackass and I pay plenty of tax allready without getting much in return so thanks for the extra 20% with nothing in return 

[farcanell]

6 hours ago, rooster59 said:

But 2018 imports from China through July were up nearly 9 percent over the same period of 2017, according to U.S. Census Bureau data.

???? further increasing the trade deficit, I imagine.... ????

 

Edit... ??? by 222,555 million since Jan, by importing four times (plus) its export value. 

[peterthaifrench]

TO SPIDERMIKE  China’s debt to GDP ratio reached 257 per cent in 2017, higher than the United States’ 152 per cent, and more than most emerging economies. The IMF anticipates that by 2020 China’s domestic credit to GDP ratio will rise to 300 per cent. In May, for the first time since 1998, Moody’s Investors Service downgraded China’s sovereign credit rating.

[Thaidream]

Trump is playing a dangerous game with tariffs.   Trump has a point about China not conducting a fair trade policy. Many American companies cannot do business in China because China insists on  technology sharing- meaning American companies have to allow China access to their proprietary information.

 

There is no doubt that China is a clear and present danger to the World and  the USA in particular. Yet, the US allows China to buy up American debt and hold huge amounts of dollars.  America continues to allow Chinese to acquire land in America; purchase houses/condos and companies; America continues to allow China to send it's students to American Universities and became trained and obtain PhD's and Masters' Degrees.

 

Instead of tariffs  I would stop all of the other Chinese incursions into American business and drive up the Chinese currency making it too expensive to do business in America.  Once Chinese business is threatened and job loss occur in China- they will negotiate a fair trade agreement.   The thing the Chinese Government fears the most is a revolution that brings in Democracy and throws out the Chinese Communist Party.

[bristolboy]

5 hours ago, peterthaifrench said:

TO SPIDERMIKE  China’s debt to GDP ratio reached 257 per cent in 2017, higher than the United States’ 152 per cent, and more than most emerging economies. The IMF anticipates that by 2020 China’s domestic credit to GDP ratio will rise to 300 per cent. In May, for the first time since 1998, Moody’s Investors Service downgraded China’s sovereign credit rating.

Where is that figure from? I think in relation to China you're referring to the total debt public and private. But I can't find the number you cite for the USA .

[simple1]

11 hours ago, bristolboy said:

Where is that figure from? I think in relation to China you're referring to the total debt public and private. But I can't find the number you cite for the USA .

Link below...

 

https://nationalinterest.org/blog/the-buzz/scary-statistic-chinas-debt-gdp-ratio-reached-257-percent-22824

[simple1]

An opinion piece on why Trump's tariff war with China will fail.

 

https://www.bloomberg.com/gadfly/articles/2018-03-07/the-art-of-trade-war-hint-china-wrote-the-book

[Grouse]

23 hours ago, sebastion said:

Actually the Chinese have the most to lose.
They lose their biggest trading partner and their export driven economy will drop like a stone.
China didn't count on this and don't know what to do.
Even a 5% GDP hit would put millions into poverty.

Sent from my EVA-L19 using Tapatalk
 

Well that's good then!

[Thian]

20 hours ago, mtls2005 said:

Handbags? National security threat? Really? Did China steal our stealth hand-bag technology?

 

Nope they didn't clone american cars (why would that be by the way) but they love to copy the European ones...

 

 

[Grouse]

Does anyone except me see any similarities with the way America treated Japan during the '30s? What with putting a stranglehold on the Japanese economy?

 

Chinese co-prosperity zone anyone?

 

What would be the equivalent of PearlHarbour? Guam?

[GOLDBUGGY]

23 hours ago, neeray said:

This will backfire on Trump and the American economy. He is no match for the Chinese. He is no more capable of predicting the outcome than the basic layman (like me) is.

 

While I fully support the need to balance trade with China, a diplomatic approach, as opposed to a shotgun, would have been appropriate.

Don't see how this can backfire. People seem to forget that 30 years ago the Americans were still an Economic Powerhouse while China was wrapped up in Communism, and not even trading with the rest of the world. It has only been in the last 30 years due to China changing its econmic policies that it entered the center stage. The USA is buying from China and just like anywhere else, "Man with Money have the Power:.

 

I also don't see how you can compare yourself to Trump and his knowledge being equal to yours as a Layman, unless you are a Billionaire to, and like Trump is. 

 

A Diplomatic Apporach is fine, but sometimes there comes a time when you have to stop just talking and to take action. This huge Trade Inbalance with China is not something new. It has been going on for several years with no changes, from using this Diplomatic Appoach. 

 

Hell, I remember Ross Perot (another Billionaire) talking about this problem in 1992. It bothered him so much that he decided to run as a Presidential Candidate against George Bush Senior and Bill Clinton, at a huge expense to himself. Sadly he did not win, but did a good showing being the strongest independent 3rd Party Candidate in American History. 

 

So since then we have had Bush Sr for 4 years, Clinton for 8 years, Bush Jr for 8 years, and Obama for 8 years as President. So they have had 4 New Presidents talking to China about this problem for the last 28 years. How many more years of talks do they need to do with China to get this problem solved? 

 

I do feel it is time for the United States to take action against China on Trade. I am not sure if I agree with Trumps Shotgun Approach, and as you called it, but then I am not a Billionaire either.         

[GOLDBUGGY]

On 9/15/2018 at 6:04 AM, sebastion said:

Actually the Chinese have the most to lose.
They lose their biggest trading partner and their export driven economy will drop like a stone.
China didn't count on this and don't know what to do.
Even a 5% GDP hit would put millions into poverty.

Sent from my EVA-L19 using Tapatalk
 

Going back as far as one can in Chinese History and you will find that China has always had Millions of People in poverty living in China. The building of the Great Wall is a good example of that. 

 

I do agree with you in that China would be on the losing end of these Tariffs. That is why the US Dollar increased in value and the Chinese Stock Market fell. But I don't think that these Tariffs will put China in the Poor House either. 

 

You have to keep in mind that Tariffs are basically an Import Tax on Imported Goods and Services. I have heard numbers like 25% Tax being imposed. So the US is not putting an embargo on Imported Chinese Goods. It is still trading with China. It is mearly putting a Tax on them which increases there price 

 

So these Tariff won't stop people from buying these Chinese Products anymore than you not buying some products in Thailand made in the West. But you may buy less and try to buy Thailand Made Products at a reduced price, if you can find them. So the long term goal is the same for the US and hopes people will buy American made products instead, and if they are made available.  

[neeray]

5 minutes ago, GOLDBUGGY said:

Don't see how this can backfire. People seem to forget that 30 years ago the Americans were still an Economic Powerhouse while China was wrapped up in Communism, and not even trading with the rest of the world. It has only been in the last 30 years due to China changing its econmic policies that it entered the center stage. The USA is buying from China and just like anywhere else, "Man with Money have the Power:.

 

I also don't see how you can compare yourself to Trump and his knowledge being equal to yours as a Layman, unless you are a Billionaire to, and like Trump is. 

 

A Diplomatic Apporach is fine, but sometimes there comes a time when you have to stop just talking and to take action. This huge Trade Inbalance with China is not something new. It has been going on for several years with no changes, from using this Diplomatic Appoach. 

 

Hell, I remember Ross Perot (another Billionaire) talking about this problem in 1992. It bothered him so much that he decided to run as a Presidential Candidate against George Bush Senior and Bill Clinton, at a huge expense to himself. Sadly he did not win, but did a good showing being the strongest independent 3rd Party Candidate in American History. 

 

So since then we have had Bush Sr for 4 years, Clinton for 8 years, Bush Jr for 8 years, and Obama for 8 years as President. So they have had 4 New Presidents talking to China about this problem for the last 28 years. How many more years of talks do they need to do with China to get this problem solved? 

 

I do feel it is time for the United States to take action against China on Trade. I am not sure if I agree with Trumps Shotgun Approach, and as you called it, but then I am not a Billionaire either.         

You have a few valid points. But then ......

Please rest assured, I do not "compare myself with Trump", OMG no. To wit, I am not afraid to self denigrate (referring to myself as a layman in such matters). He, on the other hand, as a braggart, can't do that.

As for billionaires, such status does seem to impress you, I seriously doubt that Trump is truly a billionaire. According to all that I have read, when all is said and done, assets truly valued, Trump brand truly evaluated, debts including all liabilities and contingent liabilities settled, he may not even have a pot to piss in. Remember, he is a master of smoke and mirrors.

 

And having done more reading since I posted my comment that you responded to, I believe even more so that China will prevail over Trump. China will teach Trump "the art of the deal". Americans will be the losers unfortunately.

 

I repeat, in Trump speak, "we'll see".

[GOLDBUGGY]

18 minutes ago, neeray said:

You have a few valid points. But then ......

Please rest assured, I do not "compare myself with Trump", OMG no. To wit, I am not afraid to self denigrate (referring to myself as a layman in such matters). He, on the other hand, as a braggart, can't do that.

As for billionaires, such status does seem to impress you, I seriously doubt that Trump is truly a billionaire. According to all that I have read, when all is said and done, assets truly valued, Trump brand truly evaluated, debts including all liabilities and contingent liabilities settled, he may not even have a pot to piss in. Remember, he is a master of smoke and mirrors.

 

And having done more reading since I posted my comment that you responded to, I believe even more so that China will prevail over Trump. China will teach Trump "the art of the deal". Americans will be the losers unfortunately.

 

I repeat, in Trump speak, "we'll see".

Yes it is hard for me to prove if Trump is a Billionaire or not. As for me to sit down and count all this money by hand, it would take me about 16 years without a break to do so. So for the sake of argument, and me not having to count all his money, lets just call Trump a Multi-millionaire. Which still impresses me. 

 

You seem to be confused about this subject as you always match China against Trump. It is not a disagreement between China and Trump on Trade. It is a disagreement between China and the United States on Trade. This is not a new issue and has been going on for many years. Every other President talked about this subject in the past. 

 

Of course if you want to believe that the American will be on the losing end of this deal by buying less products from China then this is up-to-you. To me it is like saying the Shopkeeper is better off when he has less customers buying his products for sale. But you are entitled to your own opinion and belief, and I respect that.  

 

We will see. 

[metisdead]

Posts containing off topic trolling comments about hookers in San Francisco have been removed.  

[GOLDBUGGY]

13 minutes ago, neeray said:

I had decided to give up on responding to your comments as I find your rationale quite strange, but you just sucked me back in (for the last time). This has nothing to do with the cost of hookers in San Francisco or the Gold Rush. Move forward a century or two please.

 

And I am not confused. Yes I match Trump and China as this is Trumps trade war, most disagree with his concept of tariffs. You are just playing semantics here. 

 

I don't recall stating that Americans will buy less products from China (please don't modify my words and their meaning). And the tariffs will add to inflation simply because they will increase the cost of products that Americans purchase that were imported from China. For your enlightenment, a 25% tariff does not mean a 25% increase in consumer cost. The tariff is added at the point of entry, many steps back from consumer cost.

And more enlightenment for you; many of the products that will be hit with tariffs can not be made in the USA at a comparable/competitive cost. Thus, Americans will have no alternative but to keep buying Chinese made products but at a higher price (= inflation).

 

China knows all this. They are more calculating than Trump is.

 

But Trump is such a wild card, aka loose cannon, anything is possible. We'll see.

 

Bye

I am sorry but you are confused. You keep calling this a Trade War between Trump and China. You seem to forget, or didn't know, that Trump did not get in the White House on his own. He had plenty of backers to do that, including the American People. I appreciate that you have a personal vendetta against Trump, but please don't confuse this with the truth and facts. 

 

This disagreement with China is over the Trade Imbalance the United States have with China, in which they import about $300 Billion more of Chinese Products compare to what China imports from the USA. If the USA doesn't buy less products from China how do you suppose they will level this huge Trade Imbalance? Suddenly Export $300 Billion more in Goods to them? 

 

Not sure where you got that information that most people are against Tariffs? Can you provide a LINK to prove that? But I do know that most Americans are against Exporting Good Jobs to other countries due to them offering lower wages.Tariffs have been around for a long time and they are not something new that Trump dreamed up recently. They were put in place to protect the local industries and to keep them competitive. Whether they work well or not is a another story.  

 

Okay! I give up! Please tell me what "must have products" the Americans can only buy from China and can't buy someplace else? I tried to think of a few but came out empty handed. Since you mention this then I assume you know the answer to these products and can tell us all. 

 

The whole reason why the USA got itself into such a bind now is that most people only cared about buying a product that cost the least, and not consider where it was made. Or that in the process they are Exporting Good Jobs, and there Technology, for this luxury. But people are getting wiser to this these days and I suspect many will support Trump in trying to bring good jobs back to America. As this was one of his Campaign Promises that got him elected.   

[simple1]

1 hour ago, GOLDBUGGY said:

Yes it is hard for me to prove if Trump is a Billionaire or not. As for me to sit down and count all this money by hand, it would take me about 16 years without a break to do so. So for the sake of argument, and me not having to count all his money, lets just call Trump a Multi-millionaire. Which still impresses me. 

 

You seem to be confused about this subject as you always match China against Trump. It is not a disagreement between China and Trump on Trade. It is a disagreement between China and the United States on Trade. This is not a new issue and has been going on for many years. Every other President talked about this subject in the past. 

 

Of course if you want to believe that the American will be on the losing end of this deal by buying less products from China then this is up-to-you. To me it is like saying the Shopkeeper is better off when he has less customers buying his products for sale. But you are entitled to your own opinion and belief, and I respect that.  

 

We will see. 

If Trump's import tariffs are so good for the US, why are leading US companies lobbying to cease the process, the majority saying the policy is detrimental for the US economy. e.g...

 

http://fortune.com/2018/07/02/chamber-of-commerce-fights-tariffs/

[GOLDBUGGY]

2 minutes ago, simple1 said:

If Trump's import tariffs are so good for the US, why are leading US companies lobbying to cease the process, the majority saying the policy is detrimental for the US economy. e.g...

 

http://fortune.com/2018/07/02/chamber-of-commerce-fights-tariffs/

You are talking Big Business here! These companies are run by CEO's who are paid Millions of Dollars to do that. These CEO's are paid Big Money and Bonuses to make profits! If that means cutting jobs, or exporting jobs, and thus reducing costs, they will do so. This extra profit also increases the Stock Price so besdies there prformance bonuses, there Free Stock Options become more valuable to them. CEO's care only about Company Profoit and there own Wallets which go hand in hand.  

 

Do you rememeber when the Auto Industry cut so many jobs at there Detroit Factories, that still keeps Detroit in the Red today? Or when Goodyear layed off 12,000 Plant Workers in 1996. Do you recall seeing them go to the government to lobby and complain that American People are losing there jobs?

 

No! This is because Big Business only cares about Big Business and don't give a Hoot about the American People or the loss of there jobs. If you want to trust them then now this is up-to-you. Notice that many of China Imports from the USA are parts. This is so they can assemble these parts there using Cheap China Labour, and sell these completed units back at a huge profit.   

[mikebike]

28 minutes ago, GOLDBUGGY said:

You are talking Big Business here! These companies are run by CEO's who are paid Millions of Dollars to do that. These CEO's are paid Big Money and Bonuses to make profits! If that means cutting jobs, or exporting jobs, and thus reducing costs, they will do so. This extra profit also increases the Stock Price so besdies there prformance bonuses, there Free Stock Options become more valuable to them. CEO's care only about Company Profoit and there own Wallets which go hand in hand.  

 

Do you rememeber when the Auto Industry cut so many jobs at there Detroit Factories, that still keeps Detroit in the Red today? Or when Goodyear layed off 12,000 Plant Workers in 1996. Do you recall seeing them go to the government to lobby and complain that American People are losing there jobs?

 

No! This is because Big Business only cares about Big Business and don't give a Hoot about the American People or the loss of there jobs. If you want to trust them then now this is up-to-you. Notice that many of China Imports from the USA are parts. This is so they can assemble these parts there using Cheap China Labour, and sell these completed units back at a huge profit.   

If those are your concerns you must be heartbroken that Bernie's not president.

[mtls2005]

Not seeing what Trump's relative net worth and experience as a real estate agent, 4-times bankrupted, operator of dozens of failed 'businesses' (USFL Trump Shuttle, Trump University, to name just a few) and failed casino operator, has to do with his "theories" and "expertise" on trade? I mean we're not talking about sourcing the cheapest faux marble for bathrooms in some shoddy condo tower.

 

https://www.documentcloud.org/documents/4464412-Trump-Donald-J-2018Annual278.html

 

 

And I'm not seeing a "plan" here? Slap tariffs on goods, then what is supposed to happen, exactly? These old jobs just aren't coming back. So consumers will pay more for goods. How does that help anyone, other than the U.S. Treasury? 

 

I guess if you are unwilling to "trust" business leaders, but are willing to "trust" this president, then maybe it is you who is not seeing clearly?

 

Has the president articulated his "plan" to balance trade to the American public? Has he enlisted the support of the people, Congress, business leaders, economic experts, academic experts, trade experts (other than Peter Navarro)?

 

Or his he just "winging it"?

 

BTW, I do understand the appeal that his "winging it" has to the less educated, disenfranchised, older, white, male "base". They see simple solutions to complex problems as "ringing true" for them because real solutions would be too hard for them to understand.

 

 

 

[simple1]

1 hour ago, GOLDBUGGY said:

You are talking Big Business here! These companies are run by CEO's who are paid Millions of Dollars to do that. These CEO's are paid Big Money and Bonuses to make profits! If that means cutting jobs, or exporting jobs, and thus reducing costs, they will do so. This extra profit also increases the Stock Price so besdies there prformance bonuses, there Free Stock Options become more valuable to them. CEO's care only about Company Profoit and there own Wallets which go hand in hand.  

 

Do you rememeber when the Auto Industry cut so many jobs at there Detroit Factories, that still keeps Detroit in the Red today? Or when Goodyear layed off 12,000 Plant Workers in 1996. Do you recall seeing them go to the government to lobby and complain that American People are losing there jobs?

 

No! This is because Big Business only cares about Big Business and don't give a Hoot about the American People or the loss of there jobs. If you want to trust them then now this is up-to-you. Notice that many of China Imports from the USA are parts. This is so they can assemble these parts there using Cheap China Labour, and sell these completed units back at a huge profit.   

I have worked for MNCs in the IT sector and do understand the business drivers for outsourcing. Personally I disagree company executives in general do not care for employees, though there would be exceptions. In many cases smaller companies / SMEs are reliant on MNCs for business in the global supply chain e.g. auto industry.

 

Back in 1994 - 1996 the new Goodyear CEO made the strategic decision to switch to manufacturing radial tyres. The layoffs enabled Goodyear to survive, today the company is highly respected. CEOs are paid for return on funds for investors; I do agree some CEO packages are extraordinary.

[FritsSikkink]

4 hours ago, GOLDBUGGY said:

Yes it is hard for me to prove if Trump is a Billionaire or not. As for me to sit down and count all this money by hand, it would take me about 16 years without a break to do so. So for the sake of argument, and me not having to count all his money, lets just call Trump a Multi-millionaire. Which still impresses me. 

 

You seem to be confused about this subject as you always match China against Trump. It is not a disagreement between China and Trump on Trade. It is a disagreement between China and the United States on Trade. This is not a new issue and has been going on for many years. Every other President talked about this subject in the past. 

 

Of course if you want to believe that the American will be on the losing end of this deal by buying less products from China then this is up-to-you. To me it is like saying the Shopkeeper is better off when he has less customers buying his products for sale. But you are entitled to your own opinion and belief, and I respect that.  

 

We will see. 

Trump got millions of his father, didn't have to do anything for it. Then he managed to bankrupt himself several times, so bad he couldn't get a loan from any bank in the USA. That is when he started to get money from the Russians. He can't write proper English and knows nothing about macroeconomics.

[bristolboy]

13 hours ago, GOLDBUGGY said:

I also don't see how you can compare yourself to Trump and his knowledge being equal to yours as a Layman, unless you are a Billionaire to, and like Trump is. 

Since the billionaire keeps airing falsehood after falsehood about economic and trade matters, I think it's pretty safe to say his economic status, whatever that may be, is despite, not because of his knowledge of the world economy.