China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive

[Dont Taz Me Bro]

History has shown repeatedly and most economists agree that tariffs don't work. When will the president figure it out?

BEIJING—China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap.

China recorded $323.32 billion in surplus with the U.S. in 2018, representing a 17% jumpfrom the figure in the previous year, according to Chinese government trade data released Monday.

China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive

 

[BlackFlag]

4D chess. Trade wars are good and easy to win.

 

[mikegriffith1]

History has shown repeatedly and most economists agree that tariffs don't work. When will the president figure it out?

BEIJING—China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap.

China recorded $323.32 billion in surplus with the U.S. in 2018, representing a 17% jumpfrom the figure in the previous year, according to Chinese government trade data released Monday.

China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive

What???!!! If tariffs don't work, then how does China have such a massive trade surplus?! How did America become an economic powerhouse during the decades when we enacted a huge protective tariff wall to protect our industries?

The reason our trade deficit with China is growing is that we need many more, and higher, tariffs on China and a number of other nations. Trump has taken some good first steps, but he has not imposed the kinds of tariffs that we need to reduce the trade imbalance.

Given that China is our biggest creditor, the creditor from whom we are still borrowing tons of money, Trump probably feels he can't impose all the tariffs he'd like to impose. This is one of the problems that results from being too deeply in debt.

http://miketgriffith.com/files/caseforhightariffs.pdf

 

[Toro]

Tariffs don't work. They're taxes, and distort economic activity to the negative.

However, the reason why the trade deficit soared was because of buying ahead of tariffs being imposed.

 

[kyzr]

?

4D chess. Trade wars are good and easy to win.

OMG, the trade agreements with China are still being negotiated, hopefully before the tariffs kick in.
At least the Trump team is going to bat for the US workers. Remember when Obama said "those jobs are not coming back."

 

[task0778]

History has shown repeatedly and most economists agree that tariffs don't work. When will the president figure it out?

BEIJING—China’s trade surplus with the U.S. hit a record last year, as robust American demand for Chinese goods undercut the Trump administration’s tariff offensive aimed at narrowing the countries’ lopsided trade gap.

China recorded $323.32 billion in surplus with the U.S. in 2018, representing a 17% jumpfrom the figure in the previous year, according to Chinese government trade data released Monday.

China’s Annual Trade Surplus With U.S. Hits Record Despite Trump’s Tariff Offensive

You tell me, what does work? Or do you think the status quo is hunky-dory? Nothing else has worked over the past 40 years or so.

 

[Toro]

What???!!! If tariffs don't work, then how does China have such a massive trade surplus?! How did America become an economic powerhouse during the decades when we enacted a huge protective tariff wall to protect our industries?

The reason our trade deficit with China is growing is that we need many more, and higher, tariffs on China and a number of other nations. Trump has taken some good first steps, but he has not imposed the kinds of tariffs that we need to reduce the trade imbalance.

Given that China is our biggest creditor, the creditor from whom we are still borrowing tons of money, Trump probably feels he can't impose all the tariffs he'd like to impose. This is one of the problems that results from being too deeply in debt.

There is no correlation between tariffs and growth. India and Brazil have had high tariffs for decades and have had much slower growth than China.

People advocating for tariffs because they think trade deficits or surpluses are inherently bad or good have little understanding of economics.

America spends more than it saves. To finance this gap, we need to run a trade deficit. Foreign capital comes in to the country finance this gap. That capital must then be used to buy foreign goods. It's simple math. To solve this problem, we could have a recession, which would either reduce our demand for foreign goods or increase our savings. Economics 101.

 

[BlackFlag]

?

4D chess. Trade wars are good and easy to win.

OMG, the trade agreements with China are still being negotiated, hopefully before the tariffs kick in.
At least the Trump team is going to bat for the US workers. Remember when Obama said "those jobs are not coming back."

Remember how the TPP was a massive deal negotiated with multiple countries to take on China and curb their trade imbalance? But nvm Trump killing that and ballooning the trade deficit while taxing you and me with tariffs is way better.

 

[Toro]

You tell me, what does work? Or do you think the status quo is hunky-dory? Nothing else has worked over the past 40 years or so.

Big trade deficits began under Ronald Reagan.

Does this mean the economy sucked under Reagan?

 

[BlackFlag]

Trump sheep really don't want to talk about this one

 

[Siete]

Tariffs don't work. They're taxes, and distort economic activity to the negative.

However, the reason why the trade deficit soared was because of buying ahead of tariffs being imposed.

exactly - Chinese electronic product sales are down considerably.

 

[kyzr]

?

4D chess. Trade wars are good and easy to win.

OMG, the trade agreements with China are still being negotiated, hopefully before the tariffs kick in.
At least the Trump team is going to bat for the US workers. Remember when Obama said "those jobs are not coming back."

Remember how the TPP was a massive deal negotiated with multiple countries to take on China and curb their trade imbalance? But nvm Trump killing that and ballooning the trade deficit while taxing you and me with tariffs is way better.

The TPP was a lose-lose for the US. China dumped steel and aluminum and did not comply with the terms of the agreement. Trump will enforce the terms of the agreement, stopping dumping, currency manipulation, and intellectual property theft.
Trump gained 500,000 manufacturing jobs in 2-years while Obama lost 217,000 over 8-years.
Manufacturing jobs growing at fastest rate in 23 years

 

[The Original Tree]

That just proves The Tariffs aren't harsh enough.

 

[kyzr]

Harsh? They haven't really started yet.

 

[BlackFlag]

?

4D chess. Trade wars are good and easy to win.

OMG, the trade agreements with China are still being negotiated, hopefully before the tariffs kick in.
At least the Trump team is going to bat for the US workers. Remember when Obama said "those jobs are not coming back."

Remember how the TPP was a massive deal negotiated with multiple countries to take on China and curb their trade imbalance? But nvm Trump killing that and ballooning the trade deficit while taxing you and me with tariffs is way better.

The TPP was a lose-lose for the US. China dumped steel and aluminum and did not comply with the terms of the agreement. Trump will enforce the terms of the agreement, stopping dumping, currency manipulation, and intellectual property theft.
Trump gained 500,000 manufacturing jobs in 2-years while Obama lost 217,000 over 8-years.
Manufacturing jobs growing at fastest rate in 23 years

The report you're using for that 500,000 number was from data from before Trump, little sheep. Also, China was never part of the TPP. Also, Trump inherited a strong economy while Obama had to service the one that was completely raped by Dubya for 8 years.

 

[kyzr]

?

4D chess. Trade wars are good and easy to win.

OMG, the trade agreements with China are still being negotiated, hopefully before the tariffs kick in.
At least the Trump team is going to bat for the US workers. Remember when Obama said "those jobs are not coming back."

Remember how the TPP was a massive deal negotiated with multiple countries to take on China and curb their trade imbalance? But nvm Trump killing that and ballooning the trade deficit while taxing you and me with tariffs is way better.

The TPP was a lose-lose for the US. China dumped steel and aluminum and did not comply with the terms of the agreement. Trump will enforce the terms of the agreement, stopping dumping, currency manipulation, and intellectual property theft.
Trump gained 500,000 manufacturing jobs in 2-years while Obama lost 217,000 over 8-years.
Manufacturing jobs growing at fastest rate in 23 years

The report you're using for that 500,000 number was from data from before Trump, little sheep. Also, China was never part of the TPP. Also, Trump inherited a strong economy while Obama had to service the one that was completely raped by Dubya for 8 years.

Wow, here we go again.
1. That manufacturing jobs data was from CNBC this morning (Trump +500,000 in 2-years, & Obama -217,000 in 8-years)
2. OK, China was not part of TPP, the deal still sucked, Trump has to get a fair deal.
3. Trump inherited a 1.8% GDP economy, and turned it into a 3.2% GDP economy
1Q18 economy grew 2.3%
2Q18 economy grew 4.2%
3Q18 economy grew 3.5%
4Q18 economy grew 2.8%
2018 full year 3.2%
4. The Bush economy was raped by Clinton's "Community Reinvestment Act", whereby the unqualified could get mortgages backed by the government. If you saw the great movie "Too Big To Fail" it explained everything. Bush/Cheney liked the economic boom, until the crash when those bad loans came due. Obama also had the benefit of zero interest rates by the Fed, as well as the $800b TARP money. Trump is actively managing the economy. I hope he succeeds.