China hits U.S. with $34 billion in retaliatory tariffs - another trumpo clusterfuck

[phands]

Wow...the orange groper-in-chief is one of the stupidest fuckwits to ever disgrace the human species....

China on Friday hit the U.S. with $34 billion in retaliatory tariffs on 545 products, and they are expected to take particular aim at states that voted for President Trump in the 2016 election.

Bottom line: Trump had promised that such actions would be met with additional U.S. tariffs, which means the two countries may be staring down the black hole of a tit-for-tat trade war.

The retaliatory duties on the United States took place immediately after Washington's initial tariff hike on Chinese goods on Friday morning.


China's list of U.S. products that will be affected includes soybeans, lobsters, bourbon, cotton, tobacco and liquified propane.
New U.S. tariffs on Chinese imports include such products as airplane tires, oil and gas drilling platform parts, lithium batteries, ball bearings and medical equipment like X-ray machines

Source: Axios

 

[dismal]

Yes, free markets are the best.

 

[RVonse]

Wow...the orange groper-in-chief is one of the stupidest fuckwits to ever disgrace the human species....

China on Friday hit the U.S. with $34 billion in retaliatory tariffs on 545 products, and they are expected to take particular aim at states that voted for President Trump in the 2016 election.

Bottom line: Trump had promised that such actions would be met with additional U.S. tariffs, which means the two countries may be staring down the black hole of a tit-for-tat trade war.

Good. Tit for tat will mean that the US wins a LOT. Compared to the status quo which the US has been losing a lot.

China's list of U.S. products that will be affected includes soybeans, lobsters, bourbon, cotton, tobacco and liquified propane.
New U.S. tariffs on Chinese imports include such products as airplane tires, oil and gas drilling platform parts, lithium batteries, ball bearings and medical equipment like X-ray machines

Oh, I'm just shivering in my boots worrying about the price of lobsters, tobbaco, and bourbon. While another super power becomes dominant making manufacturing equipment.

 

[RVonse]

Yes, free markets are the best.

Agreed.

That has not been the case with China though.

But besides the problem with unfair trade with China, the real issue is US corporations who outsource to China and then expect to bring those same products back to the US market pocketing the arbitrage difference in labor. That is what Trump should really get the focus onto.

He might not get to this though, since he is doing it himself with some of his own business.

 

[Don2 (Don1 Revised)]

Oh, I'm just shivering in my boots worrying about the price of lobsters, tobbaco, and bourbon.

Why?

 

[Elixir]

Yes, free markets are the best.

Agreed.

That has not been the case with China though.

But besides the problem with unfair trade with China, the real issue is US corporations who outsource to China and then expect to bring those same products back to the US market pocketing the arbitrage difference in labor. That is what Trump should really get the focus onto.

He might not get to this though, since he is doing it himself with some of his business.

There are ways to force change with some finesse. Trump's ham-fisted approach to ... well, everything, will rarley produce the desired result and will almost inevitably create unintended consequences. The kidnapped-and-now-disappeared children of Central America are quite a perfect template to describe almost everything that Trump does. Incompetent, cruel, self destructive... just what we need in a President.

 

[Underseer]

I love how Republican voters are convinced this is a great victory.

No matter how badly he fails, they will declare victory. Bush II taught them well.

 

[laughing dog]

Oh, I'm just shivering in my boots worrying about the price of lobsters, tobbaco, and bourbon.

Chinese tariffs on US goods means a probable loss of US jobs in those industries. Soyabean tariffs hits US farmers. So your view is pretty parochial.

 

[zorq]

China's list of U.S. products that will be affected includes soybeans, lobsters, bourbon, cotton, tobacco and liquified propane.
New U.S. tariffs on Chinese imports include such products as airplane tires, oil and gas drilling platform parts, lithium batteries, ball bearings and medical equipment like X-ray machines

Oh, I'm just shivering in my boots worrying about the price of lobsters, tobbaco, and bourbon. While another super power becomes dominant making manufacturing equipment.

Everyone is confused by this statement because Chinese tariffs on US lobsters, tobacco, etc. means that the Chinese will be purchasing much less of these products from the US. Assuming you are living in the US, that means that the lowered global demand for US products will DROP the prices for these products for you as suppliers are forced to dump their new surplus products onto US and other foreign markets. But those low prices are likely temporary until the US producers adapt to the new market conditions and downsize their production because they can't make a profit at this same production level but lower prices. US jobs are lost until the prices stabilize again at a similar place that they were before the tariffs kicked in.

So US industries take a temporary hit to their bottom line as they are forced to sell their products already in the production line and warehouses at prices lower than they expected to and US workers take a permanent hit with fewer available jobs.

 

[scombrid]

the real issue is US corporations who outsource to China and then expect to bring those same products back to the US market pocketing the arbitrage difference in labor. That is what Trump should really get the focus onto.

He might not get to this though, since he is doing it himself with some of his own business.

Yeah, funny that isn't the focus of the tariffs.

It is almost like free and fair trade isn't the ultimate goal here.

 

[scombrid]

China's list of U.S. products that will be affected includes soybeans, lobsters, bourbon, cotton, tobacco and liquified propane.
New U.S. tariffs on Chinese imports include such products as airplane tires, oil and gas drilling platform parts, lithium batteries, ball bearings and medical equipment like X-ray machines

Oh, I'm just shivering in my boots worrying about the price of lobsters, tobbaco, and bourbon. While another super power becomes dominant making manufacturing equipment.

Everyone is confused by this statement because Chinese tariffs on US lobsters, tobacco, etc. means that the Chinese will be purchasing much less of these products from the US. Assuming you are living in the US, that means that the lowered global demand for US products will DROP the prices for these products for you as suppliers are forced to dump their new surplus products onto US and other foreign markets. But those low prices are likely temporary until the US producers adapt to the new market conditions and downsize their production because they can't make a profit at this same production level but lower prices. US jobs are lost until the prices stabilize again at a similar place that they were before the tariffs kicked in.

So US industries take a temporary hit to their bottom line as they are forced to sell their products already in the production line and warehouses at prices lower than they expected to and US workers take a permanent hit with fewer available jobs.

Yeah there are those of us that will lose money on the reduced overseas sales.

And there are those of us that want to put a premium metal roof on our house and are getting hosed on aluminum prices. Hell, I briefly had trouble getting stock to build a new fuel tank for my boat.

 

[Harry Bosch]

Everyone is confused by this statement because Chinese tariffs on US lobsters, tobacco, etc. means that the Chinese will be purchasing much less of these products from the US. Assuming you are living in the US, that means that the lowered global demand for US products will DROP the prices for these products for you as suppliers are forced to dump their new surplus products onto US and other foreign markets. But those low prices are likely temporary until the US producers adapt to the new market conditions and downsize their production because they can't make a profit at this same production level but lower prices. US jobs are lost until the prices stabilize again at a similar place that they were before the tariffs kicked in.

So US industries take a temporary hit to their bottom line as they are forced to sell their products already in the production line and warehouses at prices lower than they expected to and US workers take a permanent hit with fewer available jobs.

Yeah there are those of us that will lose money on the reduced overseas sales.

And there are those of us that want to put a premium metal roof on our house and are getting hosed on aluminum prices. Hell, I briefly had trouble getting stock to build a new fuel tank for my boat.

This trade war started by Trump is really going to hurt. Of course it will hurt US manufacturers. All US exporting manufacturers (of which there are thousands of US companies who employ millions of Americans) have to reevaluate how secure their sales are. But it's not just manufacturers. The US also "exports" our services to other countries. We have thousands and thousands of US engineers, architects, scientists, installists, advisers, and etc. who provide services overseas. Those jobs are now in jeopardy. I'm really happy that Rvonse got his job back and is doing well. But if his customers can't buy his metal - he's going to lose his job too.

 

[ZiprHead]

Trump's Trade War Has Its First Victims in the U.S. and China. Here's Who They Are

 

[RVonse]

China will quickly run out of imports to tax. The US won't.

It is a war that China can not win.

 

[laughing dog]

China will quickly run out of imports to tax. The US won't.

It is a war that China can not win.

No one is going to win this trade war.

Chinese leaders are not elected. And their trade with the US is a small portion of the economy. If Trump is trying to play chicken with China, he (and US farmers and workers) will lose.

 

[Horatio Parker]

We've been winning this war. But Trump and his minions are convinced we're losing.

I have a feeling it'll end not with a bang but a whimper.