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

[bristolboy]

10 hours 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.   

Which is why Trump punished them for abandoning the United States and its workers by giving them huge tax cuts. Maybe he should slash tariffs on Chinese goods instead. At least that would be consistent.

[metisdead]

An off topic post about the border wall has been removed. 

[mike324]

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
 

I'm sure millions of americans will be effected too if suddenly everything in walmart became more expensive. Its a lose lose for both sides.

 

Trump is playing the bluff card to see how long China can last. Its classic Trump move, but doesn't mean its a good move.

[mikebike]

9 minutes ago, mike324 said:

I'm sure millions of americans will be effected too if suddenly everything in walmart became more expensive. Its a lose lose for both sides.

 

Trump is playing the bluff card to see how long China can last. Its classic Trump move, but doesn't mean its a good move.

5 minute vision vs 100 yr vision...

[GOLDBUGGY]

On 9/16/2018 at 10:21 AM, mtls2005 said:

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.

 

 

 

No I do not trust Big Business or there leaders. If they had there way and could run things, everyone in America would be working for Chinese Wages and there would be more Excutives owing Yachts. Othwerwise why do they even pay Chinese Wages to the Chinese, when many of these tires will be sold in America at American Prices? 

 

People seem to forget that not that long ago workers in America worked long hours 6 days a week and yet where paid very poor wages.. Where safety or human life on the job meant nothing. Where there were no benefits like sick leave and pension to the worker. Where if you lost an arm at work to an accident or due to poor malfuctioning equipment, then it was just tough luck for you and your family. That Workers had to fight for each one of these benefits step by step day by day at risk and great cost to themselves, against Big Business. 

 

I never said that I trusted Trump. All that I said positive about him is at least he has the Guts to try and do something, where all the other Presidents stood around with there hands in there pockets and hoped this problem would just go away.

 

Bringing Good Jobs back to America is no easy task or easy fix, otherwise this would have been done long ago. Even when you are going down the right path and direction it is going to take time to see results. Tariffs do put more money into the US Treasury at the expense of the Consumer, but this is not the main goal of Tariffs. If all the government wanted to do is raise more money on these goods, then all they have to do is add to the Sales Tax, and not get other countries upset at them about these Tariffs. 

 

Tariffs are designed to make home grown products more competitive, by increasing the cost of these Imported Goods. Sure they can make cheaper tires in China than America. But if you put a Tariff on these Imported Tires where now the cost to buy them is higher than buying American made Tires, more people are going to switch to home made tires. Companies are going to produce these tires where they can make the most profit which includes selling the most they can to the consumer. 

 

Yes it takes time to set up camp in American again. But many multinational companies have Manufactoring Plants there already, like Goodyear. So it is a simple switch to increase production in these plants and reduce production in there Overseas Plants.

 

No there is no easy fix and nobody knows for sure this will work or Tariff even work. But at least somebody is trying to do something about it, where in the past nobody did anything. If America keeps exporting all of its good paying and manufactoring jobs, all you will have left for jobs is Bus Boys, Car Lot Attendants, and Pumping Gas.        

[GOLDBUGGY]

On 9/16/2018 at 11:58 AM, FritsSikkink said:

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.

Well he knows enough to get elected President of the United States.

 

After that what else does a person need to know?

[Jingthing]

Well he knows enough to get elected President of the United States.
 
After that what else does a person need to know?

How to do the job. He doesn't.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[GOLDBUGGY]

21 hours ago, bristolboy said:

Which is why Trump punished them for abandoning the United States and its workers by giving them huge tax cuts. Maybe he should slash tariffs on Chinese goods instead. At least that would be consistent.

Yes he did give Big Business a Tax Cut, and personally I never agreed to that. But I think this plan was to create more jobs in America, so I guess his intension were good. We only see small parts of the whole picture so maybe by then he was already plannng to cut Free Trade and Create Tariff again. . 

[bristolboy]

1 hour ago, GOLDBUGGY said:

Yes he did give Big Business a Tax Cut, and personally I never agreed to that. But I think this plan was to create more jobs in America, so I guess his intension were good. We only see small parts of the whole picture so maybe by then he was already plannng to cut Free Trade and Create Tariff again. . 

You mean the special breaks for real estate and pass through entities that benefited him hugely, in addition to the lower tax rates , had nothing to do with it. In fact, there's no reason to believe that lower taxes encourage investment in the current economic climate.. Interest rates are very low so borrowing is cheap. And most of the money repatriated bu corporations went to stock buybacks which overwhelmingly benefit the wealthy - especially corporate executives and the super wealthy.

[bristolboy]

1 hour ago, GOLDBUGGY said:

Well he knows enough to get elected President of the United States.

 

After that what else does a person need to know?

If you're claiming to reform the system, do you think it might be useful to understand how it works?

[mikebike]

1 hour ago, GOLDBUGGY said:

Yes he did give Big Business a Tax Cut, and personally I never agreed to that. But I think this plan was to create more jobs in America, so I guess his intension were good. We only see small parts of the whole picture so maybe by then he was already plannng to cut Free Trade and Create Tariff again. . 

5 minutes of research would reveal that trickle-down has NEVER benefited any workers. The intention was what was achieved - paying the donors.

 

Further, to your previous post re workers and wages: Unions were busted decades ago. A great portion of the working population i the US TODAY work 6-7 days a week at more than one job for unsustainably low wages, no health care, and ever-reduced health and safety regulations, and no benefits.

 

This is not the past. This is today and it is getting worse under the current admin.

[stevenl]

1 hour ago, GOLDBUGGY said:

Yes he did give Big Business a Tax Cut, and personally I never agreed to that. But I think this plan was to create more jobs in America, so I guess his intension were good. We only see small parts of the whole picture so maybe by then he was already plannng to cut Free Trade and Create Tariff again. . 

His plan is to benefit D Trump, and at that he is doing a very good, tremendous, job.

[Lacessit]

The overriding danger to the USA is that the dollar loses its status as the world's reserve currency. The Chinese and Russians are positioning themselves for that. Tariffs on Chinese goods are only going to drive the US deeper in to debt, as China retaliates.

I'm buying gold.

[Lacessit]

1 hour ago, GOLDBUGGY said:

Well he knows enough to get elected President of the United States.

 

After that what else does a person need to know?

He appealed to the lowest common denominator. Mathematically, the end result is predictable.

[dallen52]

On 9/15/2018 at 9:12 AM, spidermike007 said:

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?

America is trillions in debt. 

Heading into the hundreds of trillions. 

Every day its printing money it has no collateral to cover.

 

I've worked in China for American owned companies. 

They enjoy great incentives for being there.

Plus the low labour wages.

And the product is a global one.

 

Ask yourself why so many US companies choose to manufacture their products in China?

And then ask how many Chinese companies chose to manufacture their products in the USA?

 

Something is really amiss with the logic used.

The logic of threat seems to be all he knows. 

 

Mexico was set up as a huge trade centre for American companies. 

It even has a currency MXD.

This is why so many companies have set up there, and produce there. 

It was basically a free trade zone which helped American companies. 

With it's own perks and offsets. 

 

No wonder the major companies are resisting bringing their products back to America. 

 

 

[FritsSikkink]

14 hours ago, GOLDBUGGY said:

Well he knows enough to get elected President of the United States.

 

After that what else does a person need to know?

How to stay out of prison.

[dallen52]

21 hours ago, mike324 said:

I'm sure millions of americans will be effected too if suddenly everything in walmart became more expensive. Its a lose lose for both sides.

 

Trump is playing the bluff card to see how long China can last. Its classic Trump move, but doesn't mean its a good move.

A country 25 trillion dollars in debt imposed sanctions on a country that has billions of surplus. 

 

Not the best economic advice he has been given recently. 

[bristolboy]

Actually since Trump announced his plans for tariffs on Chinese good, the renminbi has declined by 9 percent. The tariffs imposed are 10 percent. So it's almost a wash.

[lannarebirth]

58 minutes ago, bristolboy said:

Actually since Trump announced his plans for tariffs on Chinese good, the renminbi has declined by 9 percent. The tariffs imposed are 10 percent. So it's almost a wash.

Except for the 5 Trillion Dollars in Chinese stock market devaluation over the same period. 

[pegman]

Farm country is going to wipeout the Republican Party over this come Nov. The primaries are done so watch how many of their candidates turn on him now. Double Down Don is about to be shown another lesson.

[GOLDBUGGY]

10 hours ago, dallen52 said:

A country 25 trillion dollars in debt imposed sanctions on a country that has billions of surplus. 

 

Not the best economic advice he has been given recently. 

This is a perfect example of what happens when the USA Imports $300 Billion more from China than it Exports to China every year. But this is not the first time China got into a Trade War over a huge Trade Imbalances as they also had one with Great Britian in the past as well.

 

China was the worlds suppier of "Tea" and by the 18th Centrury was the only supplier, exporting huge quantities to the British Empire. But China's Sovereignty prevented free trade with other countries and prevented foreign merchants from working inside of China. Any and all Imports were heavily taxed and had huge Tariffs put on all these products. 

 

As a result of this by 1820 China was the largest economy in the world with huge surpluses from trade imballances, especially with Great Britian. Something like we see today with the USA. After negotiations failed, this resuted in the Opium Wars with Great Britian where Great Britian imported huge quantities of Opium from India and sold this cheaply in China. As a result many Chinese People got addicted and the Chinese Economy declined be half in 10 years.

 

A Treaty was eventually signed with Britian. France, and America, in which China agreed to farer tade practices and Hong Kong was given (leasted) to Great Britian to establish a Trading Port and Center for Imports of Great Britian, that was close to China. As China still did not want the Foreignors stationed on China's Main Land Soil.  .  .  

[dallen52]

14 hours ago, FritsSikkink said:

How to stay out of prison.