Trump's trade agenda on the verge of imploding

[FreeinChrist]

Trump's trade agenda on the verge of imploding

President Donald Trump is heading toward his 2020 reelection campaign with virtually nothing to show for his big trade promises — except for angry farmers and a jittery stock market.

A long-sought deal with China appears to be falling apart, exposing businesses on both sides of the Pacific to more tariffs and steep losses for farmers. His new pact with Canada and Mexico is facing significant opposition in Congress even from Republicans, who are demanding that he lift steel and aluminum tariffs before they’ll vote on it. Deals with the European Union, Japan and Great Britain are also stalled by politics here and abroad.

Trump’s failure to reach agreements with America’s trading partners could have a brutal impact on the economy and his reelection effort, even if his base likes his tough talk on China. By the time voters head to the polls in 2020, the prices of consumer goods could be skyrocketing. Farmers may be swamped with products they can’t sell abroad. And a bear market could be shrinking everyone’s retirement savings.

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I wonder if folks realize that the importer is the one who pays the duty, then passes off the cost to the consumer. So GM orders parts they need from China, then has to pay the duty, and they pass the cost of that duty onto the consumer.

 

[iluvatar5150]

Maybe if those pesky Democrats would stop being so obstructionist, we could get back to winning.

 

[Root of Jesse]

Trump's trade agenda on the verge of imploding

President Donald Trump is heading toward his 2020 reelection campaign with virtually nothing to show for his big trade promises — except for angry farmers and a jittery stock market.

A long-sought deal with China appears to be falling apart, exposing businesses on both sides of the Pacific to more tariffs and steep losses for farmers. His new pact with Canada and Mexico is facing significant opposition in Congress even from Republicans, who are demanding that he lift steel and aluminum tariffs before they’ll vote on it. Deals with the European Union, Japan and Great Britain are also stalled by politics here and abroad.

Trump’s failure to reach agreements with America’s trading partners could have a brutal impact on the economy and his reelection effort, even if his base likes his tough talk on China. By the time voters head to the polls in 2020, the prices of consumer goods could be skyrocketing. Farmers may be swamped with products they can’t sell abroad. And a bear market could be shrinking everyone’s retirement savings.

​

I wonder if folks realize that the importer is the one who pays the duty, then passes off the cost to the consumer. So GM orders parts they need from China, then has to pay the duty, and they pass the cost of that duty onto the consumer.

The way it is now, no deal is better than the deal that was there. The Chinese tariffs only hit 60 Billion dollars because they don't buy much from us. I don't care if the DJIA is 'jittery', it's still higher after less than 2 years of Trump than it was after 8 years of Obama. Trump will help the farmers-their problems have been the flooding.
My retirement account has grown 45% in two years. I just don't play the DJIA as a mark for anything.
The Chinese have played the US for 50 years, and Trump is the first one who has no strings attached and can deal with it. No strings with Russia, either, I might add.

 

[FreeinChrist]

Trump is making a big deal about products that we sell to China, but the US sells technology and services too.

 

[Root of Jesse]

We don't sell very much to China.

 

[FreeinChrist]

GM has quite a business. Or had.

 

[iluvatar5150]

We don't sell very much to China.

Is $179 billion not very much?

The People's Republic of China | United States Trade Representative

 

[Blade]

Not sure how much weight give this.. some truth yet.. Politico leans left.

 

[PeachyKeane]

The way it is now, no deal is better than the deal that was there.

Not really. About 900,000 jobs depend on Chinese imports, not to even imagine exports.

The Chinese tariffs only hit 60 Billion dollars because they don't buy much from us.

That's relative. China is the third largest importer of American goods.

I don't care if the DJIA is 'jittery', it's still higher after less than 2 years of Trump than it was after 8 years of Obama. Trump will help the farmers-their problems have been the flooding.

Not in Wisconsin. How is Trump going to help the farmers. Offer them welfare?

My retirement account has grown 45% in two years. I just don't play the DJIA as a mark for anything.

Good for you. Do you plan to share with the farmers?

The Chinese have played the US for 50 years, and Trump is the first one who has no strings attached and can deal with it. No strings with Russia, either, I might add.

How have they played us?

 

[iluvatar5150]

My retirement account has grown 45% in two years.

You know your own contributions aren't suppose to count in these discussions, right? Neither the DJIA nor the S&P 500 has climbed that much in the last two years. DJIA is about about 21% cumulative, while the S&P 500 is up about 17.5%

 

[Root of Jesse]

Is $179 billion not very much?

The People's Republic of China | United States Trade Representative

The tariffs they're placing are on $60 Billion. And no, 179 Billion is not very much, really.

 

[Root of Jesse]

You know your own contributions aren't suppose to count in these discussions, right? Neither the DJIA nor the S&P 500 has climbed that much in the last two years. DJIA is about about 21% cumulative, while the S&P 500 is up about 17.5%

That's why you shouldn't pay much attention to the DJIA or the S&P 500. You do realize that the DJIA is 30 stocks, and the S&P is 500. How many stocks are listed on the Dow Jones or the NASDAQ?

Besides, all I can go by are my own investments. I don't do much on indexes. But a 10% increase per year is very good. Even 8% is good. I'm just trying to get my portfolio to recover from 8 stagnant years of Obama's economy, where I didn't even cover inflation.

 

[Root of Jesse]

Not really. About 900,000 jobs depend on Chinese imports, not to even imagine exports.

I'll believe that when I see our unemployment rate skyrocket.

That's relative. China is the third largest importer of American goods.

Because they have more people in their country than any other, maybe?

Not in Wisconsin. How is Trump going to help the farmers. Offer them welfare?

I don't deal in micro-economics, just like I don't deal in micro-employment rates. (When the unemployment rate was 10-12%, I was still working, while many were having a hard time. So statistics don't really matter to the people who are affected.

Good for you. Do you plan to share with the farmers?

I do, when I buy food.

How have they played us?

China's New Tariffs Put Democrats in a Political Bind | Breitbart

 

[cow451]

We don't sell very much to China.

Does Trump still get his ties there ?

 

[Root of Jesse]

Does Trump still get his ties there ?

I don't know.

 

[essentialsaltes]

I don't care if the DJIA is 'jittery', it's still higher after less than 2 years of Trump than it was after 8 years of Obama.

"When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average (DJIA) continued its credit crisis slump and fell to 7,550.29,"

The Dow closed at 19,827.25 on Inauguration Day, Jan. 20, 2017

So under Obama, the DJIA went up more than 12,000 points, much more than doubling.

Right now, the DJIA sits under 26,000, so under Trump it has gone up ~6,000, much less than doubling.

In both absolute and relative terms, your statement is false.

Trump will help the farmers-their problems have been the flooding.

Flooding is not their only problem. The trade war with China has affected soybean farmers and others quite significantly. That's why Trump himself has been talking about using the tariff money to buy products from farmers hit by the trade war.

 

[Nithavela]

Not sure how much weight give this.. some truth yet.. Politico leans left.

You can't trust the left-leaning heretics. Only right-leaning news has the truth, everything else is just a deception.[/sarcasm]

 

[TLK Valentine]

We don't sell very much to China.

Not much except for food...

Frustration Mounts Among Farmers as China Trade Talks Break Down

Trump's tariffs are wreaking havoc on farmers

Pinched by Trump's tariffs, farmers signal their patience is limited

 

[PeachyKeane]

I'll believe that when I see our unemployment rate skyrocket.

Well, here's hoping it doesn't come to that.

Because they have more people in their country than any other, maybe?

Yes. That doesn't change how much they buy, or how much money we make off of it.

I don't deal in micro-economics, just like I don't deal in micro-employment rates.

Oh! Macro-economics is your thing, is it? Hey, without going to Google, what do you think micro-economics is?

(When the unemployment rate was 10-12%, I was still working, while many were having a hard time. So statistics don't really matter to the people who are affected.

Not sure what to do with that...

I do, when I buy food.

Wonderful!

China's New Tariffs Put Democrats in a Political Bind | Breitbart

Breitbart! Wow! And not even remotely close to what I asked about!

Without going to a far-right website/cheat-sheet. How, in your view, based on your observations, and your knowledge, has China "played us"?

I'm not saying they haven't, I'm just curious how you think they have.

 

[mama2one]

How the trade war with China could hit you: Higher prices, lost jobs and falling stocks


so many U.S. companies have gone to China because people wanted lower & lower cost items (Walmart effect) one way to do that was to get products made overseas

now with tariffs raised, the costs will be passed on to consumers as higher priced goods

it will be interesting to see if U.S. companies will turn more to other countries instead of China to have products made to avoid tariffs