Today's newspapers are all reporting on the front page that China refuses to open any negotiations with the USA until the unilateral tariffs imposed by the Trump Administration are withdrawn in a unilateral manner. China reserves the right to evaluate later whether or not to reciprocate by removing the tariffs imposed on American goods.

 

Donald Trump has put himself in a truly difficult situation. Xi Jinping is not satisfied with winning the trade war. He wants to humiliate him and make him look like a fool. By doing this, Xi Jinping wants to send a direct message to the American voters "You elected a buffoon to the White House: you are now treated like buffoons".

 

Trump has only himself to blame for the dire straits he finds himself in, just three months after Inauguration Day. Himself and the small group of sycophants posing as economists and international trade strategists he surrounds himself with.

 

After threatening to fire Powell for weeks, Trump, under pressure from the markets, had to bite the bullet and backtrack, publicly stating that he never really had any intention of getting rid of him.

I wonder if Donald Trump realizes how fortunate he is that Powell has a commendable sense of responsibility to the nation and its citizens. One can only imagine the drama that would have unfolded on Wall Street and beyond, had Powell resigned in contempt for Trump’s public behavior.
The US dollar has already lost about 10% of its value against major currencies since Inauguration Day, and the yield on treasuries (the cost of government debt) has already risen even without the farce of Powell's (constitutionally dubious) firing.

 

So here is Donald Trump, once again in the position of having to swallow a bitter pill. He can choose between dropping his pants and unilaterally withdrawing the tariffs imposed on China, or letting Americans be hit with the impossible 145% tariff that would cause immense economic damage in a matter of weeks.

And once again I wonder if Donald Trump realizes how lucky he is. China has chosen to reciprocate by imposing its own tariffs on American imports and by penalizing the United States by introducing a ban on the sale of rare earths and metals. It will take some time for American citizens to feel the effects of these sanctions.

Just imagine what would have happened if China decided to impose export tariffs on the goods (consumer electronics, shoes, clothing) that Americans need and want most—the very same goods that the Trump administration hastily excluded from tariffs. Not only inflation would have skyrocketed, but companies like Apple, Nike, Walmart and Target (who act both as exporters in China and importers in the USA) would have seen their profits evaporate in a matter of weeks.

 

What would have been unimaginable only a short time ago is now unfolding under our own eyes: China is humiliating the American giant in the person of its (incompetent and reckless) president. And President Trump is about to learn that international relations are not like buying a property in Manhattan, or negotiating a loan with Deutsche Bank, or hammering out the supply of cement from the monopoly hold by the five families of the Italian-American mafia in New York.

 

But make no mistake. After losing face with China, Donald Trump will make up for it by beating, hands down, America's long-time allies: Canada and Mexico are first in line, Europe, Japan and Korea to follow, not to mention the unfortunate penguins of Heard Island and McDonald Island, who will no longer be able to export their precious guano to the United States. 

Isn't this what true bullies do?

 

  

Id triple the tariffs.

3 minutes ago, flyingtlger said:

  

 

This is not about the United States trying to bully China. This is about an incompetent and reckless president trying to fool his voters.

So those are Xi words are they, or yours?

 

Donald Trump has put himself in a truly difficult situation. Xi Jinping is not satisfied with winning the trade war. He wants to humiliate him and make him look like a fool. By doing this, Xi Jinping wants to send a direct message to the American voters "You elected a buffoon to the White House: you are now treated like buffoons".

 

1 minute ago, frank83628 said:

So those are Xi words are they, or yours?

 

Donald Trump has put himself in a truly difficult situation. Xi Jinping is not satisfied with winning the trade war. He wants to humiliate him and make him look like a fool. By doing this, Xi Jinping wants to send a direct message to the American voters "You elected a buffoon to the White House: you are now treated like buffoons".

 

Typical spin from the media. Career liars and fools.

 

 

5 minutes ago, AndreasHG said:

This is about an incompetent and reckless president trying to fool his voters.

 

It's obvious to me he succeeded in that, and from some posts on this forum, still does

Xi is in trouble, as is China. When you need to remind the population that you govern by the Gun and the knife, there are stirrings in the country.

 

"A recent article from the official mouthpiece of the military, the PLA Daily, reminds readers that “our principle is that the Party commands the gun” (我们的原则是党指挥枪) (PLA Daily, March 10). Another from the Party’s primary newspaper, the People’s Daily, urges readers to “ensure that the ‘knife handle’ is firmly held in the hands of the Party and the people” (确保“刀把子”牢牢掌握在党和人民手中) (People’s Daily, January 12). The “gun” and the “knife handle” are metonyms for the Party’s two sources of hard power, the People’s Liberation Army (PLA) and the domestic security apparatus. For over 18 months, Xi’s protégés—or at least people appointed under Xi—have been disappearing from leadership positions across these systems." https://jamestown.org/program/personnel-problems-are-becoming-personal-problems-for-xi-jinping/

 

You are either on the side of the "Gun and the Knife" or you arent. 

When your toilet leaks, your shower stall turns black with mold and the wallpaper's peeling off in the corners, it's time to remodel.  It's not going to look pretty for a while.  But in the end, the results are worth it.

 

It's the same with bad trade policies.  And over $35 trillion in debt.

 

 Donald Trump on tariffs: "If we don't make a deal with China, it doesn't matter." | What about rare earths, Mr President

 

Loser admitting his failed tarriffs and his bluff now called out

 

 

54 minutes ago, impulse said:

When your toilet leaks, your shower stall turns black with mold and the wallpaper's peeling off in the corners, it's time to remodel.  It's not going to look pretty for a while.  But in the end, the results are worth it.

 

It's the same with bad trade policies.  And over $35 trillion in debt.

 

 

I agree with regards to the debt. Americans spend too much in relation to their GDP. This helps the American economy grow but it is not sustainable.

 

However:

1. I never heard that, to remodel his toilet, someone takes down the neighbors' house in the process, nor that 

2. someone requires neighbors to pay for the remodeling of his own toilet.

 

There are two ways to orderly deal with debt:

a. defaulting

b. restructure, spend less and save more.

 

Trump pretending that foreign countries will pay the bill of American largesse can only fool the rednecks living into the depth of the Midwest who voted for him.

Educated Americans know perfectly what the ways out of debt are.

11 hours ago, AndreasHG said:

The US dollar has already lost about 10% of its value against major currencies since Inauguration Day

Given the complexity of economics, that is a good thing in some ways.

And I'm no economic expert, but maybe it was by design because a dollar which is too strong causes some problems. 

So it's simplistic to conclude Trump is an idiot. 

 

3 minutes ago, AndreasHG said:

Educated Americans know perfectly what the ways out of debt are.

 

You claim that, yet here we are.  

 

13 minutes ago, save the frogs said:

Given the complexity of economics, that is a good thing in some ways.

And I'm no economic expert, but maybe it was by design because a dollar which is too strong causes some problems. 

So it's simplistic to conclude Trump is an idiot. 

 

 

The dollar devaluation makes Americans poorer and foreign goods more expensive. It is a good thing because poorer Americans will have less leverage to borrow and consequently will consume less.

 

We should thank Trump. He is no "idiot" because of this. The idiots are those among his voters who assumed that MAGA meant they were going to be better off. They are not.

 

MAGA made them poorer, force them to consume less, become more sustainable, and planet Earth has reason to rejoice because of it. Long life MAGA! 

11 hours ago, AndreasHG said:

The dollar devaluation makes Americans poorer and foreign goods more expensive. It is a good thing because poorer Americans will have less leverage to borrow and consequently will consume less.

 

Makes foreign US exports cheaper too.

Again, I'm no economist, but there are contradictory things going on in economics. 

Same with interest rates, which Trump is at odds with the Federal Reserve. But there are pros and cons of high vs low interest rates.

Let me know when you finish your Phd in Economics, because it seems rather complex to me. 

 

38 minutes ago, Yagoda said:

Xi is in trouble, as is China. When you need to remind the population that you govern by the Gun and the knife, there are stirrings in the country.

 

"A recent article from the official mouthpiece of the military, the PLA Daily, reminds readers that “our principle is that the Party commands the gun” (我们的原则是党指挥枪) (PLA Daily, March 10). Another from the Party’s primary newspaper, the People’s Daily, urges readers to “ensure that the ‘knife handle’ is firmly held in the hands of the Party and the people” (确保“刀把子”牢牢掌握在党和人民手中) (People’s Daily, January 12). The “gun” and the “knife handle” are metonyms for the Party’s two sources of hard power, the People’s Liberation Army (PLA) and the domestic security apparatus. For over 18 months, Xi’s protégés—or at least people appointed under Xi—have been disappearing from leadership positions across these systems." https://jamestown.org/program/personnel-problems-are-becoming-personal-problems-for-xi-jinping/

 

You are either on the side of the "Gun and the Knife" or you arent. 

Vance’s reference to China’s workers as “peasants” has transcended any PLA rhetoric. Whatever divisions existed are gone—now the population is united against Trump. Just like the 51st State, Canada, and most of the world, they’ve all had enough of the 'buffoon'.

11 hours ago, AndreasHG said:

MAGA made them poorer, force them to consume less, become more sustainable, and planet Earth has reason to rejoice because of it. Long life to MAGA! 

 

Yes, and you know for a fact that the human race (especially westerners doing most of the consumption) is not depleting the earth's resources to the point where future generations will have nothing, right?

 

The only way human beings will reduce their consumption is through forced economic policies. Then the people can chase whoever is responsible down the street with a pitchfork. 

 

7 minutes ago, save the frogs said:

 

Makes foreign US exports cheaper too.

Again, I'm no economist, but there are contradictory things going on in economics. 

Same with interest rates, which Trump is at odds with the Federal Reserve. But there are pros and cons of high vs low interest rates.

Let me know when you finish your Phd in Economics, because it seems rather complex to me. 

 

 

The USA has not an export problem. The USA main exports are goods, services (it's where the US excels and has no match, like it or not. They're financial services, but also media, social media, software, etc.) and greenbacks.

 

The greenbacks are the debt the US owes to foreign countries. Sometimes they are dollar bills, sometimes treasuries, sometimes Tesla shares bound to be worth nothing in three years from now.

2 minutes ago, LosLobo said:

Just like the 51st State, Canada, and most of the world, they’ve all had enough of the 'buffoon'.

 

Thats fine, you prefer the Gun and the Knife.

 

As to most of the world, perhaps you think India is a joke?

https://thehill.com/opinion/international/5259330-vances-visit-to-india-shows-trump-is-rebuilding-ties/

 

Wonder which way Thailand is turning? Hmmm, indicting Chinese, Chinese tourism down, Ms. P visit Cambodia a few days after Xi, casinos, unmentionable people in NY....

 

Geopolitics trumps Trump.

2 minutes ago, AndreasHG said:

sometimes Tesla shares bound to be worth nothing in three years from now

LOL. Sure. And the AfD wont be part of governing Germany

A flame has been removed

It does look like Xi is wiping the floor with Trump and forcing him to back down. It seems China holds the cards. I hope Canada, Mexico and the EU also stand up to the bully. Appeasement never works.

7 minutes ago, Purdey said:

It does look like Xi is wiping the floor with Trump and forcing him to back down. It seems China holds the cards. I hope Canada, Mexico and the EU also stand up to the bully. Appeasement never works.

More bs. China exports more to the US than the other way.

38 minutes ago, oxo1947 said:

 

 

If I were President Trump I would raise the tariffs to 200% and keep them there. Of course the left wing socialist liberals would cry foul as they would have to pay more for their Walmart products.

2 hours ago, AndreasHG said:

He wants to humiliate him and make him look like a fool.

 

So it's true, then.

 

The Chinese DO steal all our technology.

 

2 hours ago, AndreasHG said:

Xi Jinping is not satisfied with winning the trade war. He wants to humiliate him and make him look like a fool.

 

 

Not really necessary.  Trump and his team of amateurs can easily manage this themselves without any assistance. 

2 hours ago, AndreasHG said:

and the yield on treasuries (the cost of government debt) has already risen even without the farce of Powell's (constitutionally dubious) firing.

 

And how will this affect the annual $1 Trillion cost of servicing the debt?

 

But more importantly, will we be able to afford Trump's $1 Trillion "Gun and Knife" budget?