Tit for Tat Tariffs - The US versus the World

[Hans Blaster]

Better touch the stove again just to be sure.

Not only is the week not over yet, but the markets haven't even closed for the day. Have faith DJT will touch the stove at least once more before the week is over.

 

[Nithavela]

Not only is the week not over yet, but the markets haven't even closed for the day. Have faith DJT will touch the stove at least once more before the week is over.

China tarriffs are now at 125 %, and I would bet good money that China will raise their own tarriffs soon enough.

 

[Oompa Loompa]

China tarriffs are now at 125 %, and I would bet good money that China will raise their own tarriffs soon enough.

I wonder how much the U.S. exports to China as opposed to the other way around? It this keeps going, there will be a much needed uprising in China.

 

[Oompa Loompa]

Oh look here. Remember when Chuck Schumer called for a 27% tariff on China in 2005 and when Nancy Pelosi argued against China in 1996? When democrats want something, it is good. But when Trump does it, so it's bad. Start at 4:00.

 

[essentialsaltes]

Trump Boasts About His ‘War on the World’ Before Backtracking – But Adds, ‘It’s Our Turn’ to Rip Off Other Countries​

In his speech, Trump referred to his “war with the world” before reversing himself.

“And I do think that the war with the world, which is not a war at all because they’re all coming here,” Trump claimed. “They’re all coming here. Japan is coming here as we speak. They’re in a plane flying, lots of them, all tough negotiators.”

Trump then pivoted to China and bragged about the massive tariffs that are about to go into effect on the country. While doing so, Trump falsely stated that China will pay the tariff.

“Right now, China is paying a 104% tariff,” he said as the crowd applauded.

[Also in attendance that night...]

Trump Reminisces About the ‘Great Hannibal Lecter’ as Being ‘A Very Important Force’ ​

They used to go crazy when I talked about when I talk about Hannibal Lecter. The late, great Hannibal Lecter. Right? Silence of the Lambs. The fake news would say, “Why does he talk about that? He’s a fictional character.” He’s not. We have many of them that came across the border. He’s actually not.

 

[JosephZ]

I wonder how much the U.S. exports to China as opposed to the other way around? It this keeps going, there will be a much needed uprising in China.

China Has Already Trade-War-Proofed Its Economy

The major products that the US imports from China are mostly things you’ll find in a Walmart Inc., at a shopping mall, or on Amazon.com Inc.: smartphones, computers, games consoles, furniture, toys and clothing. Slap a 54% tariff on these items, as Trump has done, and American consumers are going to notice pretty soon.

The flow in the opposite direction couldn’t be more different. Most of China’s major imports from the US are intermediate goods for its manufacturing industry, which would be almost impossible for an ordinary consumer to get their hands on, such as LNG and crude oil, silicon chips and chip-making machines, aircraft jets and plastics.

An important thing to note in the charts above is the relative size of the white, gray and blue bars. China tends to have quite a dominant role in US merchandise imports, making it hard for American consumers to switch to alternative suppliers. The US, by contrast, is a relatively minor supplier to China in almost every major product category except jet engines and, to a limited extent, soy. China, meanwhile, has broad and diverse markets for its exports if the US market ends up closed off, as demonstrated by the relatively large blue bars in the first chart.

Trump’s tariffs fall mainly on ordinary American citizens and voters who’ve already suffered four years of above-target inflation and are seeing interest rates around their highest levels in nearly two decades.

The tariffs imposed by China will hurt quite a different group — businesses who are into their third year of producer price deflation, with the benchmark loan prime interest rate at its lowest level on record. Even consumer prices are falling right now.

That means that China already has a decent amount of slack to accommodate the supply-side shock from tariffs, whereas the US economy is already busting at the seams.

 

[GoldenBoy89]

Trump Boasts About His ‘War on the World’ Before Backtracking – But Adds, ‘It’s Our Turn’ to Rip Off Other Countries​

In his speech, Trump referred to his “war with the world” before reversing himself.

“And I do think that the war with the world, which is not a war at all because they’re all coming here,” Trump claimed. “They’re all coming here. Japan is coming here as we speak. They’re in a plane flying, lots of them, all tough negotiators.”

Trump then pivoted to China and bragged about the massive tariffs that are about to go into effect on the country. While doing so, Trump falsely stated that China will pay the tariff.

“Right now, China is paying a 104% tariff,” he said as the crowd applauded.

[Also in attendance that night...]

Trump Reminisces About the ‘Great Hannibal Lecter’ as Being ‘A Very Important Force’​

They used to go crazy when I talked about when I talk about Hannibal Lecter. The late, great Hannibal Lecter. Right? Silence of the Lambs. The fake news would say, “Why does he talk about that? He’s a fictional character.” He’s not. We have many of them that came across the border. He’s actually not.

When all else fails, scare them with the immigrants.

 

[SavedByGrace3]

And just like that, back up 3000 points.

 

[essentialsaltes]

Trump’s top trade official wasn’t informed of tariff delay until after announcement​

At the same moment that US Trade Representative Jamieson Greer was defending Trump’s stiff tariffs during a House hearing, Trump said on his social media platform that the administration will delay the additional tariff hike on dozens of countries by 90 days — which went into effect for mere hours on Wednesday — with the exception of China.

“It looks like your boss just pulled out the rug from under you and paused the tariffs,” [Rep.] Horsford said.

Meanwhile, US and China are deep in a tit-for-tat trade war. Tariffs on China were hiked to 125% on Wednesday, effective immediately. Before Trump’s announcement, Beijing had retaliated with 84% tariffs on US imports.

 

[wing2000]

Trump’s top trade official wasn’t informed of tariff delay until after announcement​

At the same moment that US Trade Representative Jamieson Greer was defending Trump’s stiff tariffs during a House hearing, Trump said on his social media platform that the administration will delay the additional tariff hike on dozens of countries by 90 days — which went into effect for mere hours on Wednesday — with the exception of China.

“It looks like your boss just pulled out the rug from under you and paused the tariffs,” [Rep.] Horsford said.

Meanwhile, US and China are deep in a tit-for-tat trade war. Tariffs on China were hiked to 125% on Wednesday, effective immediately. Before Trump’s announcement, Beijing had retaliated with 84% tariffs on US imports.

Typical.

 

[wing2000]

The major products that the US imports from China are mostly things you’ll find in a Walmart Inc., at a shopping mall, or on Amazon.com Inc.: smartphones, computers, games consoles, furniture, toys and clothing. Slap a 54% tariff on these items, as Trump has done, and American consumers are going to notice pretty soon.

....or a 125% tariff [...or maybe 200% by tomorrow?].

 

[essentialsaltes]

[In the House, Republicans have redefined yom to be an indefinite period of time, so the 15 yom waiting period before the president can be challenged will never expire.]

House GOP moves to prevent votes on rescinding Trump tariffs​

"The rule provides that each day during the period from April 9, 2025, through September 30, 2025, shall not constitute a calendar day for purposes of section 202 of the National Emergencies Act (50 U.S.C. 1622) with respect to a joint resolution terminating a national emergency declared by the President on April 2, 2025," the rule states.

This is the second time Johnson has moved to stop the legislative calendar to prevent votes on Trump's authority on tariffs. Under House rules, these votes would typically come up within 15 calendar days but now will not if the "rule" passes during the vote series Wednesday afternoon.

[I believe 3 Republicans voted with Democrats.]

 

[Hans Blaster]

House GOP moves to prevent votes on rescinding Trump tariffs​

"The rule provides that each day during the period from April 9, 2025, through September 30, 2025, shall not constitute a calendar day for purposes of section 202 of the National Emergencies Act (50 U.S.C. 1622) with respect to a joint resolution terminating a national emergency declared by the President on April 2, 2025," the rule states.

This is the second time Johnson has moved to stop the legislative calendar to prevent votes on Trump's authority on tariffs. Under House rules, these votes would typically come up within 15 calendar days but now will not if the "rule" passes during the vote series Wednesday afternoon.

[I believe 3 Republicans voted with Democrats.]

It was the rule to control debate on the big corporate and high earner tax cut and deficit increase package to which this distortion of calendar reality was added. It was Turner, Massie, and Spartz. At least 2 of them were known to not like the budget resolution, so it may have had nothing to do blocking the blocking of Trump's fake emergency.

 

[Say it aint so]

If everyone is going scorched earth, what would happen if China just announces plans to cash out the US debt they own, and stop buying US T-bills. Imagine what that stock market response would look like.

Boom. Japan started selling off bonds and Trump hits the 90 day pause.

 

[Say it aint so]

Yep. China can outlast Donald Trump. He just doesn't realize that....yet.

Yes, Xi has far more control over that countries banks and institutions. Outside of just firing people, Trump does not.

 

[essentialsaltes]

I'm afraid we entered "When Prophecy Fails" territory a long time ago.

Some subset of Trump supporters will only double down in their support, no matter what happens, because admitting the reality makes them out as chumps.

 

[wing2000]

Boom. Japan started selling off bonds and Trump hits the 90 day pause.

"Yippy"

Asked to explain the decision, Mr. Trump told reporters: “Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid.”

Behind the scenes, senior members of Mr. Trump’s team had feared a financial panic that could spiral out of control and potentially devastate the economy. Treasury Secretary Scott Bessent and others on the president’s team, including Vice President JD Vance, had been pushing for a more structured approach to the trade conflict that would focus on isolating China as the worst actor while still sending a broader message that Mr. Trump was serious about cracking down on trade imbalances.

Inside Trump’s Reversal on Tariffs: From ‘Be Cool!’ to ‘Getting Yippy’

Economic turmoil, particularly a rapid rise in government bond yields, caused President Trump to reverse course on the steep levies.

www.nytimes.com

 

[wing2000]

Cheaper for Chinese exporters to abandon their shipments to the US....

Amid escalating trade tensions between China and the United States, some Chinese exporters are taking the drastic step of ditching shipments mid-voyage and surrendering containers to shipping companies to avoid crushing tariff costs.

Exclusive | Chinese exporters ditching shipments mid-voyage to avoid crushing Trump tariffs

One export company’s US-bound container volume has plummeted, from 40 to 50 containers a day to just three to six.

www.scmp.com

 

[KCfromNC]

Perhaps the people making the decisions confuse trade deficits with budget deficits? It's one of the more flattering explanations I've seen for Trump's economic policy.

Look at the current national debt. Countries have been sucking the lifeblood out our economy for decades.

Called it.

 

[KCfromNC]

Just fine you say with an unsustainable debt crisis which would drive the nation into bankruptcy.

Random made up assertions like this is no way to run economic policy.