Trump to slap 25% tariffs on up to $50 billion of Chinese goods; China says it will retaliate

[mystery-ak]

Trump to slap 25% tariffs on up to $50 billion of Chinese goods; China says it will retaliate

    President Trump plans to put a 25 percent tariff on up to $50 billion of Chinese goods in response to alleged intellectual property theft.
    China immediately says it will hit back.
    U.S. trade relations have suffered with major partners including China, Canada and Mexico.

Jacob Pramuk   | @jacobpramuk
Published 2 Hours Ago Updated 4 Mins Ago

The Trump administration will impose a 25 percent tariff on up to $50 billion in Chinese goods, a decision that brought swift condemnation from Beijing as trade conflicts between the world's two largest economies escalate.

In a statement Friday, President Donald Trump said the measures will affect Chinese goods "that contain industrially significant technologies." The action comes "in light of China's theft of intellectual property and technology and its other unfair trade practices," he added.

Trump noted that the White House could impose additional tariffs if China retaliates with duties of its own on American crops or other products.

more
https://www.cnbc.com/2018/06/15/trump-administration-to-slap-a-25-percent-tariff-on-50-billion-of-chinese-goods-threatens-more.html

[Weird Tolkienish Figure]

If Trump keeps this shit up he will kiss my vote goodbye in 2020. I'm sorry, but I can stomach his other crap (and did, i pulled the lever for him in 2016), but not starting a trade war while the economy is booming. That is simply stupidity.

[Frank Cannon]

If Trump keeps this shit up he will kiss my vote goodbye in 2020. I'm sorry, but I can stomach his other crap (and did, i pulled the lever for him in 2016), but not starting a trade war while the economy is booming. That is simply stupidity.

You've already stated ad nauseam that you regret voting for Trump and that you find him a stooge. Now you claim if he doesn't stop the trade war you are not voting for him? Get the flock out of here.

[driftdiver]

tariffs suck, so do trade wars

Its kind nice to see our govt sticking up for America though.  We've been getting raped economically for decades.

[Weird Tolkienish Figure]

You've already stated ad nauseam that you regret voting for Trump and that you find him a stooge. Now you claim if he doesn't stop the trade war you are not voting for him? Get the flock out of here.

 

At time I regret, at times I'm glad I voted. No politician is owed my vote. I'm just being honest. Trump has done some great things, he's done some things I consider to be foolish errors. IMO this is one of the latter.

Can you dispute the substance of my post?

[Frank Cannon]

At time I regret, at times I'm glad I voted. No politician is owed my vote. I'm just being honest. Trump has done some great things, he's done some things I consider to be foolish errors. IMO this is one of the latter.

Can you dispute the substance of my post?

I can. The trade deficits in this country have been disgusting for decades. All of the "free trade" agreements we have are one sided against us. They were cut just so past admins could say they did something regardless of their value. Just look at the barriers we have trying to sell milk in Canada. I also see that these tariffs are not going to effect the US in the least because of these absurd trade barriers already in place. Consumer spending and confidence are up month over month including this one with a trade war.

[driftdiver]

I can. The trade deficits in this country have been disgusting for decades. All of the "free trade" agreements we have are one sided against us. They were cut just so past admins could say they did something regardless of their value. Just look at the barriers we have trying to sell milk in Canada. I also see that these tariffs are not going to effect the US in the least because of these absurd trade barriers already in place. Consumer spending and confidence are up month over month including this one with a trade war.

Its important to note that most of these countries spend a huge amount of money lobbying Congress for laws beneficial for them.  Both the countries themselves and business which do business with those countries. 

[GtHawk]

Its important to note that most of these countries spend a huge amount of money lobbying Congress for laws beneficial for them.  Both the countries themselves and business which do business with those countries.

Okay so someone start a national move to ban lobbyists................. yeah that'll happen when queers can procreate naturally without any outside help, just them and their same sex partner.

[txradioguy]

tariffs suck, so do trade wars

Its kind nice to see our govt sticking up for America though.  We've been getting raped economically for decades.

So you have no problem with a 25% tax being slapped on the American people by our own government?

[txradioguy]

Its important to note that most of these countries spend a huge amount of money lobbying Congress for laws beneficial for them.  Both the countries themselves and business which do business with those countries.

And it's also important to note that the industries in the U.S. that benefit from these tariffs spend millions on their own on lobbyists to ensure they are protected and have legislation passed to benefit them.

[Restored]

So you have no problem with a 25% tax being slapped on the American people by our own government?

They didn't slap a 25% tax on us. (thought this seemed rather obvious)

[To-Whose-Benefit?]

So you have no problem with a 25% tax being slapped on the American people by our own government?

https://www.nytimes.com/2017/03/20/business/economy/china-us-trade-tariffs.html

BEIJING — A Jeep Wrangler can cost $30,000 more in China than in the United States — and the reasons illustrate a growing point of tension between the two countries.

Manufactured in Toledo, Ohio, the Wrangler is a descendant of the jeeps that were used by American forces in World War II. Equipped with a 3.6-liter engine and a five-speed automatic transmission, the Rubicon edition of the Wrangler has a suggested retail price of $40,530 in the United States.

But in China, the same vehicle would set a buyer back by a hefty $71,000, mostly because of taxes that Beijing charges on every car, minivan and sport utility vehicle that is made in another country and brought to China’s shores.


We shouldn't be trading with Communist China at all, under Any set of tariffs, rules, exclusions, or otherwise.

Starting a Trade War?

GOOD. Start it. Fight It. WIN IT, and watch that disgusting aberration of a country implode without Our Markets.

[To-Whose-Benefit?]

Who the hell's money is funding This?

http://www.atimes.com/article/china-in-race-to-overtake-the-us-in-ai-warfare/

Earlier this month Chinese supreme leader Xi Jinping met with senior military scientists as chairman of the all-powerful Central Military Commission.

During the meeting, the Chinese leader was photographed at the PLA Academy of Military Sciences shaking hands with Major General Li Deyi, a leading authority on artificial intelligence, or AI, and a key figure in the Chinese military’s effort to overtake the United States in the emerging field of advanced weapons.

The meeting between Xi and the military experts garnered little public attention.


And Please, don't someone go quoting that Idiot Maxim from Forbes that tariffs and trade wars only Harm the American People/Consumer.

[txradioguy]

https://www.nytimes.com/2017/03/20/business/economy/china-us-trade-tariffs.html

BEIJING — A Jeep Wrangler can cost $30,000 more in China than in the United States — and the reasons illustrate a growing point of tension between the two countries.

Manufactured in Toledo, Ohio, the Wrangler is a descendant of the jeeps that were used by American forces in World War II. Equipped with a 3.6-liter engine and a five-speed automatic transmission, the Rubicon edition of the Wrangler has a suggested retail price of $40,530 in the United States.

But in China, the same vehicle would set a buyer back by a hefty $71,000, mostly because of taxes that Beijing charges on every car, minivan and sport utility vehicle that is made in another country and brought to China’s shores.


We shouldn't be trading with Communist China at all, under Any set of tariffs, rules, exclusions, or otherwise.

Starting a Trade War?

GOOD. Start it. Fight It. WIN IT, and watch that disgusting aberration of a country implode without Our Markets.

They won't implode without our market.

That's what people don't seem to understand.

Even during the height of the Cold War there was some trade the Soviet Union.

[WingNot]

How many << nope >> really want or need a Jeep Wrangler.   

Besides.. The great Sergio can back channel those thu his Fiat pipeline

[Free Vulcan]

tariffs suck, so do trade wars

Its kind nice to see our govt sticking up for America though.  We've been getting raped economically for decades.

Yes, and trade wars are dangerous, and can blow up in your face. It's very risky strategy. I'd normally say it would be a very stupid card to play.

But what do we do? Let the rest of the world slow bleed us? We can't depend on the MAD strategy we've relied on for the past 25 years that all the money we send out is going to come back and invest in our financial markets.

Plus China, for all it's hidden financial problems, is economically powerful enough today to out leverage the U.S. on the world stage, and is doing so on every continent.

We have got to do something now or go the way of Britain and other past powers, or worse.

[To-Whose-Benefit?]

They won't implode without our market.

That's what people don't seem to understand.

Even during the height of the Cold War there was some trade the Soviet Union.

REALLY?

For decades now I have been infuriated by being FORCED to buy bleep, bleep-sucking, and more bleeping bleep Made In China because their Mother-Bleeping Bleep has forced American made, or any other Quality made, products off the shelf.

The last 3lb bag of cat food I bought (Purina) cost me $12 and I would gladly pay twice that much for it because, circled in red on the front of the bag was the disclaimer, No Ingredients From China.

Those scum have even been poisoning our pets.

I NEVER, EVER, want to see the words Made In China on anything sold in America again.

[txradioguy]

REALLY?

For decades now I have been infuriated by being FORCED to buy bleep, bleep-sucking, and more bleeping bleep Made In China because their Mother-Bleeping Bleep has forced American made, or any other Quality made, products off the shelf.

The last 3lb bag of cat food I bought (Purina) cost me $12 and I would gladly pay twice that much for it because, circled in red on the front of the bag was the disclaimer, No Ingredients From China.

Those scum have even been poisoning our pets.

I NEVER, EVER, want to see the words Made In China on anything sold in America again.

IMHO Trump could fix this trade issue with China if instead of starting a tariff war...he simply repeals the permanent Most Favored Nation trading status Clinton gave them in return for campaign cash.

That single act right there is what has allowed the flood of cheap and dangerous Chinese goods into our country. And as you noted pushed our goods off the shelves.

And while he's doing that hit them with some penalties for their currency manipulation and technogy theft.

But as far as tariffs go...China can play that game all day long without it hurting them.

One other note about American goods...you can also thank the labor unions for the jacked up prices on "Made in America" versus what we import.

And unless the labor unions suddenly stop their outrageous demands everytime a contract is renegotiated or you figure out how to force other nations to pay the wages out companies pay employees there will always be cheaper products coming to our shelves.