Trump announces new tariffs on Chinese goods starting Sept. 1

[edpc]

President Donald Trump said Thursday the U.S. will impose 10% tariffs on $300 billion of Chinese goods beginning Sept. 1. In a tweet, the president said trade talks with Beijing are continuing after U.S. officials returned from negotiations in China. The 10% levies will apply to $300 billion of Chinese goods coming into the U.S. It doesn't include $250 billion of goods already subject to tariffs, the president said. U.S. stocks DJIA, -0.74% turned mostly negative after Trump's announcement.

https://www.marketwatch.com/story/trump-announces-new-tariffs-on-chinese-goods-starting-sept-1-2019-08-01?mod=victor-reklaitis

[mystery-ak]

Trump says the US will slap tariffs on virtually all Chinese imports next month
Gina Heeb
Aug. 1, 2019, 01:51 PM

President Donald Trump said Thursday he would expand tariffs to virtually all imports from China on September 1, marking a significant escalation in a more than yearlong trade war between the largest economies.

Trump announced on Twitter the US would hit China with tariffs on roughly $300 billion worth of its products while the two sides continued trade negotiations. With $250 billion worth of goods already subject to a 25% tariff, the move would place a tax on virtually all shipments from China.

He accused China of reneging just days after high-level negotiations resumed between the two sides, saying it had not yet followed through with pledges to buy more American agricultural products and reduce the flow of fentanyl into the US.

"Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die!" Trump said. 

more
https://markets.businessinsider.com/news/stocks/trump-china-trade-war-us-imposing-more-tariffs-in-september-2019-8-1028409537

[rustynail]

Gig'em.

[Applewood]

Lovely.  There goes that great economy he brags about.

[WhatWouldReaganDo]

Trade wars are good, and easy to win   

[Sanguine]

Trade wars are good, and easy to win   

Is this a war worth fighting?

[EdJames]

Is this a war worth fighting?

Good question.

[skeeter]

Is this a war worth fighting?

IMO if China weren't using the proceeds from the very uneven trade relationship with us, not to mention theft of our technology, to fund global military expansion it would be a harder question to answer.

[Absalom]

Free Trade is a core economic principle allowing an exchange of goods/services 
to occur naturally w/o the imposition/restriction of duties, excises or tariffs.
China's earliest rule was autocratic dynasties from 1500 BC till 1912,
followed by militarists till Mao in 1950 and since, Marxists have been in control.
That Nation and People have never known freedom and creativity, as these
traits are perceived as a mortal threat to their autocratic top down rule.
As a consequence they lie, they cheat and they steal when trading.
Tariffs, warts and all, have been imposed for a direct and simple reason: TO CHANGE BEHAVIOR.
Suggest the sob sisters give it a rest every time some cony capitalist bitches and moans
about his thinner wallet.

[EdJames]

Free Trade is a core economic principle allowing an exchange of goods/services 
to occur naturally w/o the imposition/restriction of duties, excises or tariffs.
China's earliest rule was autocratic dynasties from 1500 BC till 1912,
followed by militarists till Mao in 1950 and since, Marxists have been in control.
That Nation and People have never known freedom and creativity, as these
traits are perceived as a mortal threat to their autocratic top down rule.
As a consequence they lie, they cheat and they steal when trading.
Tariffs, warts and all, have been imposed for a direct and simple reason: TO CHANGE BEHAVIOR.
Suggest the sob sisters give it a rest every time some cony capitalist bitches and moans
about his thinner wallet.

That is it, right there.

[edpc]

Gary Cohn bemoans 'dramatic impact' of Trump tariffs

The former top White House economic adviser said that President Trump’s trade wars have had a “dramatic impact” on the U.S. manufacturing sector while doing little to hinder China’s economy.

Gary Cohn, former director of the National Economic Council, told the BBC in an interview aired Thursday that Trump’s tariffs have effectively canceled the benefits of his 2017 corporate tax cut and prevented U.S. manufacturers from expansion.

"When you build plant equipment, you're buying steel, you're buying aluminum, you're buying imported products and then we put tariffs on those, so literally the tax incentive we gave you with one hand was taken away with the other hand,” Cohn told the BBC.

https://thehill.com/policy/finance/455728-gary-cohn-bemoans-dramatic-impact-of-trump-tariffsM

[Drago]

Is this a war worth fighting?

Based on China's rampant theft of intellectual property, use of prison labor for manufacturing (lots of persecuted Christians in that group), and the loss of manufacturing the the USA, I think it is worth at least one "war". Upcoming presidents definitely won't be taking a swing at the problem. Trump is sort of a unique "one-off" chance to solve the problem...I doubt Ted Cruz would be taking a big swing at China...not dissing Ted, just an observation.

[rustynail]

Is slap the only way to begin a tariff?

[edpc]

Trump says it's "fine with me" if China doesn't want to trade with the U.S.

President Trump said it's "fine" if the U.S. can't reach a trade agreement with China. "If they don't want to trade with us anymore, that would be fine with me," he told reporters as he left for a campaign rally in Cincinnati Thursday. "We'd save a lot of money," he added.

https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/


That’s not going to sit well with people along I-29.

[Absalom]

Gary Cohn bemoans 'dramatic impact' of Trump tariffs
The former top White House economic adviser said that President Trump’s trade wars have had a “dramatic impact” on the U.S. manufacturing sector while doing little to hinder China’s economy.
Gary Cohn, former director of the National Economic Council, told the BBC in an interview aired Thursday that Trump’s tariffs have effectively canceled the benefits of his 2017 corporate tax cut and prevented U.S. manufacturers from expansion.
"When you build plant equipment, you're buying steel, you're buying aluminum, you're buying imported products and then we put tariffs on those, so literally the tax incentive we gave you with one hand was taken away with the other hand,” Cohn told the BBC.
https://thehill.com/policy/finance/455728-gary-cohn-bemoans-dramatic-impact-of-trump-tariffsM

---------------------------------------------------
Gary Cohn is the essence of DC; a hustler and shill for the corporate crowd who infest Washington.
He will say or do absolutely anything to remain in good standing w/his paymasters even if it makes
no economic sense!

[edpc]

---------------------------------------------------
Gary Cohn is the essence of DC; a hustler and shill for the corporate crowd who infest Washington.
He will say or do absolutely anything to remain in good standing w/his paymasters even if it makes
no economic sense!

Cohen is the one that got the tax cuts, which is what really kickstarted the economy under Trump, in the first place. He fought for those and Ross fought for the tariffs. It’s hurting the admin in the heartland and putting Iowa back in play for the 2020 election. Additionally Ross told shutdown employees to get a loan, f***ed up the census question, can’t negotiate a deal with China, and can’t stay awake in meetings. It’s not hard to see who has been better for the president, as far as economic advice goes.

[Absalom]

Cohen is the one that got the tax cuts, which is what really kickstarted the economy under Trump, in the first place. He fought for those and Ross fought for the tariffs. It’s hurting the admin in the heartland and putting Iowa back in play for the 2020 election. Additionally Ross told shutdown employees to get a loan, f***ed up the census question, can’t negotiate a deal with China, and can’t stay awake in meetings. It’s not hard to see who has been better for the president, as far as economic advice goes.

----------------------------------
Repeating, Cohn is a DC fraud, hustler and shill for the likes of the C of C and the Business
Round-table, as well as any other crony capitalist who will fatten his wallet.
As for China, the purpose of the tariffs is to change the behavior of their third world
culture/society which has has lying, cheating and stealing since the Shang Dynasty of 1500 BC.
Obviously you had no interest as long as the corporate flunkies had a smile for tee-vee.
Suggest you try getting real.

[edpc]

Suggest you try getting real.

Everything I previously mentioned is fairly current and very real.

[goatprairie]

----------------------------------
Repeating, Cohn is a DC fraud, hustler and shill for the likes of the C of C and the Business
Round-table, as well as any other crony capitalist who will fatten his wallet.
As for China, the purpose of the tariffs is to change the behavior of their third world
culture/society which has has lying, cheating and stealing since the Shang Dynasty of 1500 BC.
Obviously you had no interest as long as the corporate flunkies had a smile for tee-vee.
Suggest you try getting real.

Sure thing, Trump is the sole repository of all good economic knowledge. The people who think tariffs are bad, just about everybody else, are all corporate shills.
Or maybe Trump is an economics ignoramus who does some good things, deregulation, and does some dumb things, tariffs, that hurt farmers and other industries.

[kevindavis007]

Trump says it's "fine with me" if China doesn't want to trade with the U.S.

President Trump said it's "fine" if the U.S. can't reach a trade agreement with China. "If they don't want to trade with us anymore, that would be fine with me," he told reporters as he left for a campaign rally in Cincinnati Thursday. "We'd save a lot of money," he added.

https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/


That’s not going to sit well with people along I-29.

Or the average American.

[Absalom]

Everything I previously mentioned is fairly current and very real.

-------------------------------
Fair enough. Peace!

[edpc]

-------------------------------
Fair enough. Peace!

 


Incidentally, I don’t believe Cohn isn’t a Wall St loyalist, I just think he was a better advisor on policy than Ross has been.

[edpc]

WASHINGTON (Reuters) - As a tense meeting with top advisers on China trade talks ended, President Donald Trump turned to trade adviser Robert Lighthizer and told him to call China to warn that new tariffs were coming, two people familiar with the matter said on Friday.

The request to Lighthizer on Thursday came after Trump abruptly decided to threaten to raise tariffs by 10 percent on another $300 billion in Chinese exports to the United States, after U.S.-Chinese trade talks in Shanghai failed to lead to progress.

Trump was frustrated by the failure to advance the trade agenda during the Shanghai talks, and had gathered his top advisers in the Oval Office to discuss how to proceed.

https://www.yahoo.com/finance/news/trump-instructed-top-aide-call-032818232.html

[jmyrlefuller]

Is this a war worth fighting?

Yes, but only if we can get that darn deficit under control so we don't have to borrow from them.

[edpc]

'I DON'T KNOW WHERE TO BEGIN HERE': NEIL CAVUTO BLASTS TRUMP AFTER FACT-CHECK ON TARIFFS

"Remember this, our country is taking in billions and billions of dollars from China. We never took in ten cents from China," Trump said. "Out of that many billions of dollars, we're taking a part of it and giving it to the farmers because they've been targeted by China. The farmers, they come out totally whole."

[snip]

"Just to be clarifying here, China isn't paying these tariffs, you are," Cavuto said. "You know, indirectly and sometimes directly. It's passed along to you through American distributors and their counterparts in the United States who buy this stuff from the Chinese and then have to pay the surcharges. Not the Chinese government on China in particular.”

https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424


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