China increases tariffs in tit-for-tat response to Trump

[essentialsaltes]

Hard to read between the lines, but it seems like both sides think we're not close to a deal. Trump's tariff rattling is probably a hamfisted last-minute move to pressure the Chinese to show up and make a deal fast.

Now as negotiators scramble to resurrect the deal, revelations are emerging that indicate both sides appeared to think they had the other over a barrel. As a result, they pushed for more, setting the stage for a rapid escalation in tensions which undid session after session of hard-fought negotiations.

US officials said that Trump's tweets were meant to rattle Beijing, and were made without extensive discussions with his economic advisers.

 

[1000Flames]

I've been told that CNN is fake news, therefore the above article shows we're #winning and the stock's are going up. Thank you Trump!

 

[jayem]

I dislike the idea of a trade war, but what's the alternative? What leverage or message can we use to convince nations of fairer trade? Ideally I support free trade among nations, businesses and people deciding for themselves what's produced and consumed. Only alternative I can think about is making our economy more efficient and competitive with domestic policies.

Not to go off topic, but a different health insurance system, which frees employers from the burden of being health coverage providers, will go a long way to help our businesses compete globally.

 

[PeachyKeane]

You know it's bad when Janet Yellen calls you out in public:
Trump 'doesn't understand economics'

I've been pointing this out since 2016. He doesn't understand trade, tariffs, the market, or, it seems, macroeconomic principles, like how an economy runs, or why you can't give government investors a 'haircut', or why you can't just print more money to civer the deficit. The thing is: he has an economics degree from Wharton.

I'd love to see those transcripts...

 

[Yekcidmij]

The thing is: he has an economics degree from Wharton.

I'd love to see those transcripts...

It's weird that his economic policies are supported by so many [supposed] conservatives when Adam Smith literally wrote the book arguing against his mercantilist economic policies.

 

[Speedwell]

It's weird that his economic policies are supported by so many [supposed] conservatives when Adam Smith literally wrote the book arguing against his mercantilist economic policies.

Of course, when Adam Smith wrote Wealth of Nations, corporate capitalism hadn't been invented yet. He supported the idea of free markets, which modern corporatists generally oppose.

 

[essentialsaltes]

“Where are we headed?” asked Caleb Ragland, a Kentucky farmer and director for the American Soybean Association. “We are up against the one-year anniversary of the tariffs. What progress have we made in the 12-month period?”

 

[Yekcidmij]

It certainly has yet to do anything to the actual trade deficit. Wasn't that what it was supposed to affect?

Balance on current account

.

 

[SummerMadness]

“Where are we headed?” asked Caleb Ragland, a Kentucky farmer and director for the American Soybean Association. “We are up against the one-year anniversary of the tariffs. What progress have we made in the 12-month period?”

”Compensation payments”? That’s called welfare, and many on the right claim they hate it... unless it’s for them.