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Trade war with China starting?
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Trade war with China starting?
http://money.cnn.com/2018/04/02/news/economy/china-us-tariffs-trade/index.html
China is showing the United States that it will make good on its trade threats.
The Chinese government said that tariffs on about $3 billion worth of US imports are going into effect Monday, hitting 128 products ranging from pork, meat and fruit to steel pipes.
It's the latest move in escalating tensions between the world's two largest economies, which some experts fear could turn into a trade war.
Beijing says the new sanctions on 128 US products, which it first proposed 10 days ago, are in response to President Donald Trump's tariffs on imports of steel and aluminum from China and some other countries.
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The US National Pork Producers Council warned last month that the measures would "have a significant negative impact on rural America." It said the US pork industry sold $1.1 billion worth of products to China last year, making it the third largest export market.
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Since first announcing the metal tariffs, the White House has said it will spare a number of allies from the measures, including Canada, Mexico, the European Union and South Korea.
China's Ministry of Commerce said in its statement late Sunday that those exemptions "seriously violate" World Trade Organization rules that prohibit members from discriminating against other WTO members.
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Experts say they expect further retaliation from China once the Trump administration reveals more details on which products its planned $50 billion in tariffs will target.
Arthur Kroeber, a founding partner at economic research firm Gavekal, predicted in a note to clients late last month that the next round of Chinese measures will focus on US agricultural exports from predominantly Trump-voting states.
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The Great Negotiator at it again.... he is so far out of his league, and has no idea what he's doing.... and we're going to be the ones paying for his mistakes, not him or the 1%.
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Posted 4/2/18 8:22 AM  |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Trade war with China starting?
And again with Amazon too!! All this "winning" on Wall Street!  His BIG, DUMB mouth is going to cause this economy to crash. First his tariff nonsense, then the Amazon attacks. Isn't there anyone in the WH to reign this idiot in??!!!  
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| Posted 4/3/18 8:03 AM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Trade war with China starting?
Jeff Bezos owns Amazon as well as the Washington Post. WaPo is very vocal about IQ45, and it hurts his wittle feelings, so he's lashing out like a toddler...
Amazon pays the same negotiated fees as any other large shipper, and they are a huge reason why the USPS is making money at all.
But facts get in the way of IQ45's tantrums, so he just ignores them....
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| Posted 4/3/18 8:18 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Trade war with China starting?
Posted by GoldenRod
Jeff Bezos owns Amazon as well as the Washington Post. WaPo is very vocal about IQ45, and it hurts his wittle feelings, so he's lashing out like a toddler...
Amazon pays the same negotiated fees as any other large shipper, and they are a huge reason why the USPS is making money at all.
But facts get in the way of IQ45's tantrums, so he just ignores them....
Exactly. His tantrums are based in nothing. Big baby is just angry that Jeff is richer and more powerful than him. 
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| Posted 4/3/18 8:37 AM |
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oneday
<3
Member since 5/05 4319 total posts
Name:
Pam
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Re: Trade war with China starting?
Posted by Hofstra26
Posted by GoldenRod
Jeff Bezos owns Amazon as well as the Washington Post. WaPo is very vocal about IQ45, and it hurts his wittle feelings, so he's lashing out like a toddler...
Amazon pays the same negotiated fees as any other large shipper, and they are a huge reason why the USPS is making money at all.
But facts get in the way of IQ45's tantrums, so he just ignores them....
Exactly. His tantrums are based in nothing. Big baby is just angry that Jeff is richer and more powerful than him.
This ^ FOR SURE!
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| Posted 4/3/18 10:07 AM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Trade war with China starting?
I posted this on the tweet thread, but here is a good place as well.
I am in the export business, meat to be precise, and this administration is really scaring the crap out of me. If he gets rid of NAFTA, no telling what will happen with US exports that happen to put a lot of American people to work.
It all starts with the American farmer that raises the America-born piglet, feeding it with grain grown on American farms.
When it gets big enough, it goes to a processing plant to well, won't go into details.
American truckers pick up the cargo in containers and drive it to a railyard where it gets loaded onto American trains to be taken to American ports to be loaded by American stevedores onto vessels loaded with American fuel and bound for other countries.
Whew, that'a a lot of American people involved to get a pork chop onto someone's plate in Japan, Korea, Mexico.
If he eliminates NAFTA and other countries retaliate by raising tariffs, guess what, there's a good chance that these exports will seriously decline and a whole lot of American people will be out of work. Maybe me included.
Just in the month of March, I exported 2,892,668 pounds of pork to Japan. I paid about $5.3 million for it, plus an additional $400,000 for freight.
That's not counting what I exported to Korea or Mexico.
And that is only for 1 month.
Multiply that by 12 and then by how many other people/companies do the same thing I do.
That's just my pork business, I also export beef....
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| Posted 4/4/18 9:26 AM |
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LIRascal
drama. daily.
Member since 3/11 7287 total posts
Name:
Michelle
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Re: Trade war with China starting?
Posted by SusiBee
I posted this on the tweet thread, but here is a good place as well.
I am in the export business, meat to be precise, and this administration is really scaring the crap out of me. If he gets rid of NAFTA, no telling what will happen with US exports that happen to put a lot of American people to work.
It all starts with the American farmer that raises the America-born piglet, feeding it with grain grown on American farms.
When it gets big enough, it goes to a processing plant to well, won't go into details.
American truckers pick up the cargo in containers and drive it to a railyard where it gets loaded onto American trains to be taken to American ports to be loaded by American stevedores onto vessels loaded with American fuel and bound for other countries.
Whew, that'a a lot of American people involved to get a pork chop onto someone's plate in Japan, Korea, Mexico.
If he eliminates NAFTA and other countries retaliate by raising tariffs, guess what, there's a good chance that these exports will seriously decline and a whole lot of American people will be out of work. Maybe me included.
Just in the month of March, I exported 2,892,668 pounds of pork to Japan. I paid about $5.3 million for it, plus an additional $400,000 for freight.
That's not counting what I exported to Korea or Mexico.
And that is only for 1 month.
Multiply that by 12 and then by how many other people/companies do the same thing I do.
That's just my pork business, I also export beef....
This is absolutely fascinating. So you're saying that those millions in earning per month (for Cargill or whomever) would just get wiped out? 
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| Posted 4/6/18 11:11 PM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Trade war with China starting?
Posted by LIRascal
Posted by SusiBee
I posted this on the tweet thread, but here is a good place as well.
I am in the export business, meat to be precise, and this administration is really scaring the crap out of me. If he gets rid of NAFTA, no telling what will happen with US exports that happen to put a lot of American people to work.
It all starts with the American farmer that raises the America-born piglet, feeding it with grain grown on American farms.
When it gets big enough, it goes to a processing plant to well, won't go into details.
American truckers pick up the cargo in containers and drive it to a railyard where it gets loaded onto American trains to be taken to American ports to be loaded by American stevedores onto vessels loaded with American fuel and bound for other countries.
Whew, that'a a lot of American people involved to get a pork chop onto someone's plate in Japan, Korea, Mexico.
If he eliminates NAFTA and other countries retaliate by raising tariffs, guess what, there's a good chance that these exports will seriously decline and a whole lot of American people will be out of work. Maybe me included.
Just in the month of March, I exported 2,892,668 pounds of pork to Japan. I paid about $5.3 million for it, plus an additional $400,000 for freight.
That's not counting what I exported to Korea or Mexico.
And that is only for 1 month.
Multiply that by 12 and then by how many other people/companies do the same thing I do.
That's just my pork business, I also export beef....
This is absolutely fascinating. So you're saying that those millions in earning per month (for Cargill or whomever) would just get wiped out?
The exports would be seriously decreased. If countries place tariffs in imported goods, consumers will look to buy cheaper domestic products.
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| Posted 4/7/18 5:27 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Trade war with China starting?
http://money.cnn.com/2018/05/31/news/economy/united-states-steel-aluminum-tariffs/index.html
President Trump is imposing steep tariffs on steel and aluminum from three of America's biggest trading partners — Canada, Mexico and the European Union.
The trade penalties, 25% on imported steel and 10% on imported aluminum, take effect at midnight, Commerce Secretary Wilbur Ross told reporters Thursday.
The announcement immediately raised the risk of retaliatory tariffs against American products.
Trump announced worldwide steel and aluminum tariffs in March but granted exemptions to some major trading partners.
Canada, Mexico and the EU were among the countries granted relief while the United States pursued negotiations to address the administration's concerns about the state of domestic steel and aluminum production. Those negotiations had a Friday deadline.
Trump's decision could raise prices for Americans on a range of everyday products. It could also place the United States in a trade dispute on more than one front. The administration is separately moving ahead with tariffs on Chinese goods.
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The United States is also exploring the possibility of putting new tariffs on cars. Last week, The Trump administration announced an investigation into whether automobile imports are hurting US national security, laying the groundwork for another trade fight.
Such an action could hurt Mexico, Canada, Germany and Japan.
So there go any allies we still might have had...
This is going to really hurt a lot of people. Not the super wealthy, so that's good, but the working class people are going to really feel this.
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| Posted 5/31/18 10:54 AM |
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