Trump says he's 'ready' to put tariffs on all $505 billion of Chinese goods imported to the US

[txradioguy]

Doesn't Most Favored Nation status mean the recipient country gets lower tariffs? Revoking it means raising tariffs?

@skeeter

No it doesn't mean having to raise any tariffs a country with MFN status does enjoy lower import duty fees and very few if any tariffs. It also allows the fewest trade barriers, and the highest import quotas (or none at all).

It's allowed China unfettered access to our markets with no limits or restrictions on how much they can ship to our shores.  They dump cheap products in this country by the container full and companies in the U.S. take all they can get.

It's done more to hurt American industry than it has to help it.  Because while it's supposed to be reciprocal meaning if we give China unlimited access to our markets...they do the same for us...that hasn't been the case.  The Chinese have exploited their MFN status to their advantage and our detriment.

BTW if we treated them like we did during the cold war we scarcely trade with them at all.

I have no problem with that.  They are stealing billions of dollars of intellectual property from our companies every year...they hack defense contractors and steal plans for advanced weapons systems...and they are aggressively expanding what they deem as territorial waters IMHO in a definite and determined effort to create an impenetrable barrier for when they pull the trigger on retaking Taiwan.

They aren't our friends...they are very clearly an enemy that needs to be recognized as such...I learned while I was in Korea that the Chinese play a very very long game when it comes to geopolitics...they believe they are the real world power because they've been around as a people much longer than anyone else...and they are patiently biding their time...massing their resources...marshalling their forces for the time and place they determine for when they re-establish themselves as the one and only power in Asia.

[txradioguy]

@txradioguy

I don't think Trump can do that on his own authority which is why he is pretty much reduced to tariffs at present and even that is on shaky ground Constitutionally.

@Bigun

Clinton granted it on his own.  After lobbying by big business and over the objections of the likes of Nancy Pelosi and George Mitchell.

At the very least we put the brakes on the current levels of imports we take in from them.  Like the Russians with their oil and gas sales they use to fund their expansionist goals and upgrade their military...China uses the billions they rake in from their unlimited trade with the U.S. as well as what they steal from us every year to do the same thing in Asia.

If you want to hurt them...tariffs won't do it...they can absorb that hit better than we can...but if you cut off or severely strangle their imports into the U.S. that will hurt them where it counts.

[INVAR]

Right.   Like you are a ray of sunshine these days.

I like to rain on liberalism, Leftism, Marxism, Big Government Statism and Communism every single time I see it.

Especially on those who call themselves Conservatives who espouse the same kindof garbage and talking points the Left does.

[Wingnut]

I like to rain on liberalism, Leftism, Marxism, Big Government Statism and Communism every single time I see it.

Especially on those who call themselves Conservatives who espouse the same kindof garbage and talking points the Left does.

I got your new avatar:

[rustynail]

Just a pathetic distraction from his sex addiction troubles.

[aligncare]

Just a pathetic distraction from his sex addiction troubles.

I see what you did there. 

[Hoodat]

Trump says he's 'ready' to put tariffs on all $505 billion of Chinese goods imported to the US

In other words, Trump is ready to artificially increase prices on American consumers and thus lower their standard of living.

[Hoodat]

And what exactly can you not live without?

Ah, the words of a totalitarian.

[Wingnut]

Ah, the words of a totalitarian.

You must have me confused with one of the deep staters big government types we have on the site ...  you know, a never trumper.

[Hoodat]

You must have me confused with one of the deep staters big government types we have on the site ...  you know, a never trumper.

Uh, no.  I recognize you as a supporter of the exact same policies Baraq Obama implemented, and one who questions the freedom of a consumer to purchase any product available on the market without being singled out by selective authoritarian taxation.

[Wingnut]

Uh, no.  I recognize you as a supporter of the exact same policies Baraq Obama implemented, and one who questions the freedom of a consumer to purchase any product available on the market without being singled out by selective authoritarian taxation.

I think you've been hitting the crack pipe. 

[kidd]

What part of the threat: “should the need arise,” do the critics in the peanut gallery not recognize as tactics of a skilled negotiator?

While tariffs can create temporary price instability, as part of a carrot and stick approach, they can also force a recalcitrant trading partner back to the table, and in the long run boosting American industry.

Maybe after we get a better deal out of China, the peanut gallery can afford to buy their fainting couches from the good old USA.

Excellent post. The fact is that China needs us way more than we need them. And because of this, they WILL negotiate a deal that is better for America.
Until they do, however, it is important to recognize that the Chinese are deeply unfair:

• They put very little money into research and development...instead they steal American technology and then sell it to other countries, undercutting American prices for the same product.
• The tariffs on items imported from America is way out of balance. I was in Shanghai in 2016...almost no American cars - they were all European.

The present Chinese leadership is almost as radical as it was under Mao, only the present Chinese military is far more modernized and just as aggressive. South China sea. The border with India. Buying up seaports, including the Panama canal. Aggressive investment in Africa. Every cheap product purchased through Walmart helps China expand.

[Victoria33]

@INVAR
@mystery-ak

Thank goodness I just ordered two pair of PJs, one blue, one pink, and one pick robe and one blue robe - I'm sure they are made in China.  Ladies, order your gowns, PJs, robes quickly!  INVAR, you probably sleep in the nude, but if not, get those PJs now!

[skeeter]

@skeeter

No it doesn't mean having to raise any tariffs a country with MFN status does enjoy lower import duty fees and very few if any tariffs. It also allows the fewest trade barriers, and the highest import quotas (or none at all).

It's allowed China unfettered access to our markets with no limits or restrictions on how much they can ship to our shores.  They dump cheap products in this country by the container full and companies in the U.S. take all they can get.

It's done more to hurt American industry than it has to help it.  Because while it's supposed to be reciprocal meaning if we give China unlimited access to our markets...they do the same for us...that hasn't been the case.  The Chinese have exploited their MFN status to their advantage and our detriment.

I have no problem with that.  They are stealing billions of dollars of intellectual property from our companies every year...they hack defense contractors and steal plans for advanced weapons systems...and they are aggressively expanding what they deem as territorial waters IMHO in a definite and determined effort to create an impenetrable barrier for when they pull the trigger on retaking Taiwan.

They aren't our friends...they are very clearly an enemy that needs to be recognized as such...I learned while I was in Korea that the Chinese play a very very long game when it comes to geopolitics...they believe they are the real world power because they've been around as a people much longer than anyone else...and they are patiently biding their time...massing their resources...marshalling their forces for the time and place they determine for when they re-establish themselves as the one and only power in Asia.

We disagree on very little here.

[Hoodat]

I think you've been hitting the crack pipe.

Keep in mind that I am not the one here supporting Obama's (and now Trump's) tariff policy.  But hey, if you are in favor of raising taxes on average Americans just like every other Democrat, have at it.

[Suppressed]

Clinton granted it on his own.

@txradioguy
It was part of the Republican Party platform, to encourage cultural exchange that would move them toward a free-market economy and open society.

[INVAR]

INVAR, you probably sleep in the nude,

You been talking with my wife haven't you?

[INVAR]

I got your new avatar:

I got yours right here:

[txradioguy]

@txradioguy
It was part of the Republican Party platform, to encourage cultural exchange that would move them toward a free-market economy and open society.

Yup and after Tienamen Square it was very dumb of Bush 41 to pursue that strategy.  It legitimized the Chinese and how they did business in their country.  Clinton just picked up where H.W. left off and we're all paying for it now.

[Wingnut]

I got yours right here:

That was the best you could do?  You are slipping my man.    ^-^

[edpc]

@INVAR

China can't match us dollar for dollar on the tariffs, given the trade deficit size.  However, one potential weapon is something you mentioned in another thread regarding Russia...

China is one of the largest holders of U.S. Treasurys, owning about $1 trillion of bonds in 2017, according to the Federal Reserve. Like most investors, it wants to stash greenbacks in something safe and U.S. bonds are still solid investments. However, if the Chinese government gets pushed too far, it could decide to sell off its holdings or stop buying new U.S. bonds — and that could have a significant impact on the U.S. economy. “It’s the nuclear option,” Hooper said.

https://www.cnbc.com/amp/2018/07/19/4-lethal-weapons-china-has-to-help-win-the-us-china-trade-war.html

[INVAR]

@INVAR

China can't match us dollar for dollar on the tariffs, given the trade deficit size.  However, one potential weapon is something you mentioned in another thread regarding Russia...

Exactly.  The timing of Russia dumping 70% of their remaining Treasuries within hours of Trump doing his 180 on Putin was not a coincidence IMO.

Whether they can convince China to take the hit to ultimately take us down and out has yet to be seen, but the real risk is there.

Especially after Trump telling us yesterday that he will tariff everything coming from China.

[Hoodat]

I find it ludicrous that anyone expects a country with GDP per capita one fourth that of the United States to purchase as much goods from us that we purchase from them.

[INVAR]

That was the best you could do?  You are slipping my man.    ^-^

I got plenty for you.

[Hoodat]

Especially after Trump telling us yesterday that he will tariff everything coming from China tax any American who buys something from China.

There.  Fixed it.