Stocks slide after Trump warns China: 'I am a Tariff Man'

[mystery-ak]

Stocks slide after Trump warns China: 'I am a Tariff Man'
By Jordan Fabian - 12/04/18 10:14 AM EST

Stocks fell dramatically on Tuesday after President Trump on Tuesday declared himself a “Tariff Man,” stressing he will not hesitate to raise tariffs on China if it does not agree to fundamentally change its trade practices.

The Dow Jones Industrial Average closed down nearly 800 points and the Standard & Poor's 500 index dropped more than 3 percent on the day, a sharply negative turn one day after markets were jolted by news that Trump reached a trade ceasefire with Chinese President Xi Jinping.

“Investors are spooked by President’s Trump handling of the trade war with China,” Mark Zandi, chief economist at Moody's Analytics, wrote in an email. “Despite the arrangement Trump and Xi agreed to last week in Argentina, they are nervous that the negotiations will go off the rails and the trade war will escalate.”

Zandi cited higher interest rates, lower corporate earnings growth and too-high valuations as other factors driving Wall Street fears.

“It is hard to see the bull market resuming as long as the president continues to pursue his trade war,” he added.

more
https://thehill.com/homenews/administration/419613-trump-warns-china-i-am-a-tariff-man

[mystery-ak]

Dow down 799

[Frank Cannon]

Nice one sided story from our Commie pals at Hill. What they seem to leave off is last night the dirty lying Chinamen started backing away from the truce set in place this weekend. They are trying to do everything they can to keep the current system in place that lets them steal all out ideas without any repercussions. Screw that.

[DB]

Tariffs are often a weapon of mass destruction with unforeseen consequences for those tempted to use them. Once the other side retaliates the impulse is to retaliate back in a growing vortex of economic destruction. If you are going to do it, you have to keep it small and targeted to something very specific and not be driven by emotion to retaliate back when the inevitable happens. It is best not to play the game in the first place. Kind of like nuclear war...

[GrouchoTex]

Sung to the tune of "Soul Man" by Sam and Dave, and the Blues Brothers.
Available on K-Tel records now.....

[Applewood]

Way to Go Donnie!   

[Frank Cannon]

Tariffs are often a weapon of mass destruction with unforeseen consequences for those tempted to use them. Once the other side retaliates the impulse is to retaliate back in a growing vortex of economic destruction. If you are going to do it, you have to keep it small and targeted to something very specific and not be driven by emotion to retaliate back when the inevitable happens. It is best not to play the game in the first place. Kind of like nuclear war...

Who gives a shit. The Chinamen have been robbing us blind for decades but people like you don't care if they become a super power and destroy us. As long as you get your cheap shit at Walmart you are happy.

[DB]

Who gives a shit. The Chinamen have been robbing us blind for decades but people like you don't care if they become a super power and destroy us. As long as you get your cheap shit at Walmart you are happy.

Robbing?

Last I checked we willingly bought their crap.

I don't want to feed the Chinese beast. But tariffs aren't the answer unless you can get the rest of the non-Chinese world to do the same. Otherwise we're just damaging ourselves shrinking our share of the world market. Funny how the trade deficit went up when we added tariffs... That's because the products we export got more expensive in the rest of the world making us less competitive. While you try to save one industry you damage many others.

[Frank Cannon]

Robbing?

Last I checked we willingly bought their crap.

I don't want to feed the Chinese beast. But tariffs aren't the answer unless you can get the rest of the non-Chinese world to do the same. Otherwise we're just damaging ourselves shrinking our share of the world market. Funny how the trade deficit went up when we added tariffs... That's because the products we export got more expensive in the rest of the world making us less competitive. While you try to save one industry you damage many others.

They are robbing us. They take our cars and electronics and anything else they want and copy it and sell it as their own. Just ask anyone in the tech business who has to deal with the effing yellow creeps undercutting them with their own proprietary concepts.

[corbe]

   It doesn't seem that long ago that the GOP believed in and preached Free Market Capitalism.
   Tariffs are a Tax on the Consumer and nothing more.  Wish Trump would listen to Kudlow more.

[DB]

They are robbing us. They take our cars and electronics and anything else they want and copy it and sell it as their own. Just ask anyone in the tech business who has to deal with the effing yellow creeps undercutting them with their own proprietary concepts.

They've done that for a long time. If they won't honor intellectual property they should be cut off from the world markets entirely. Selective tariffs won't put a dent in it. We put electronic hardware locks/keys in our products that get shipped overseas to make it difficult to replicate our designs.

[skeeter]

I have no problem with a policy that discourages greedy corporations from getting rich off a relationship with an authoritarian regime that intends to take our money & eventually bury us with it.

China isn’t the only place that’ll make cheap sh*t for us.

[Wingnut]

   It doesn't seem that long ago that the GOP believed in and preached Free Market Capitalism.
   Tariffs are a Tax on the Consumer and nothing more.  Wish Trump would listen to Kudlow more.

Kudlow?   That hack economist.  Please corbe you have to better than that.  Isn't there a Nixonian economist you could leg hump.

[RoosGirl]

I'm a tariff man, is that a schoolhouse rock song I missed?

[mountaineer]

I think the tariffs are just a threat. The Chinese will make some concessions.

[goodwithagun]

I'm a tariff man, is that a schoolhouse rock song I missed?

No, a super hero. Tariff man, tariff man, goes wherever a tariff can.

[Wingnut]

No, a super hero. Tariff man, tariff man, goes wherever a tariff can.

Who is the man that would risk his neck for his brother, man?  Tariff man.
Can ya dig it?

[edpc]

The worst part, as demonstrated in his latest tweet, he does not possess the most basic understanding of tariff ramifications.

“When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so....”

He does not get that the tariff is ultimately paid by the American consumer.

[Applewood]

The worst part, as demonstrated in his latest tweet, he does not possess the most basic understanding of tariff ramifications.

“When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so....”

He does not get that the tariff is ultimately paid by the American consumer.

But...but...but...Trump is a graduate of the Wharton School.