How's that pesky trade war Trump started? U.S. Trade Deficit in Goods Reaches Record High

[Fort Fun Indiana]

Trump started the trade war?

Correct. Just ask him.

 

[charwin95]

The trade balance is actually worse than it seems because record oil and gas exports from the USA are masking the decline in goods and services exports.

Manufacturing is already in decline in the USA and investment in industry is declining.

Donald Trump has trashed brand America and consumers around the world are reducing their purchases of US manufactures and services.

Tourism by foreigners has also declined as Donald Trump has made foreigners feel they are unwelcome in the USA.

Donald Trump has shot Uncle Sam in both feet.

Infographic: U.S. Trade Deficit in Goods Reaches Record High

U.S. Trade Deficit in Goods Reaches Record High
by Felix Richter,
Aug 5, 2019

Despite all efforts by the Trump administration to reign in the country’s trade deficit, the gap between imports to and exports from the United States climbed to a 10-year high in the first half of 2019. According to figures released by the Bureau of Economic Analysis on Friday, the U.S. trade deficit in goods and services declined slightly in June, bringing the total deficit to $316 billion for the first half of 2019, the highest it’s been since 2008. The increase was mainly caused by a historically high deficit in goods trade, which amounted to a record $439 billion, of which $219 billion can be traced back to trade with China alone.

While the U.S. trade deficit continues to climb overall, imports from China have in fact been affected by the ongoing trade war between the two economic superpowers. U.S. goods imports from China dropped by more than $30 billion in the first half of 2019 compared to the previous year.

DESCRIPTION
This chart shows the U.S. trade balance in goods, services and overall. ...

However, price index shows that prices are slightly falling and profit margins improving and inflation is unchanged despite of higher tariffs.

That means that tariffs are not passed on consumers as leftist media are saying.

Tell it to farmers and residents of rural America who have been turned into welfare recipients.

If tariffs were such a great economic booster, every country would be imposing 1000% tariffs on all imports.

Only farmers getting these welfare aids are the big ones. Small farmers are such in bad luck facing collections and bankruptcies.

 

[charwin95]

The trade balance is actually worse than it seems because record oil and gas exports from the USA are masking the decline in goods and services exports.

Manufacturing is already in decline in the USA and investment in industry is declining.

Donald Trump has trashed brand America and consumers around the world are reducing their purchases of US manufactures and services.

Tourism by foreigners has also declined as Donald Trump has made foreigners feel they are unwelcome in the USA.

Donald Trump has shot Uncle Sam in both feet.

Infographic: U.S. Trade Deficit in Goods Reaches Record High

U.S. Trade Deficit in Goods Reaches Record High
by Felix Richter,
Aug 5, 2019

Despite all efforts by the Trump administration to reign in the country’s trade deficit, the gap between imports to and exports from the United States climbed to a 10-year high in the first half of 2019. According to figures released by the Bureau of Economic Analysis on Friday, the U.S. trade deficit in goods and services declined slightly in June, bringing the total deficit to $316 billion for the first half of 2019, the highest it’s been since 2008. The increase was mainly caused by a historically high deficit in goods trade, which amounted to a record $439 billion, of which $219 billion can be traced back to trade with China alone.

While the U.S. trade deficit continues to climb overall, imports from China have in fact been affected by the ongoing trade war between the two economic superpowers. U.S. goods imports from China dropped by more than $30 billion in the first half of 2019 compared to the previous year.

DESCRIPTION
This chart shows the U.S. trade balance in goods, services and overall. ...

However, price index shows that prices are slightly falling and profit margins improving and inflation is unchanged despite of higher tariffs.

That means that tariffs are not passed on consumers as leftist media are saying.

Tell it to farmers and residents of rural America who have been turned into welfare recipients.

If tariffs were such a great economic booster, every country would be imposing 1000% tariffs on all imports.

Da fuq are you babbling about? I live in a rural area. Farmers are just now harvesting their corn and soybean crops here. And they can't find enough people to fill the retail, manufacturing, and other jobs.

Dude: You're ate up with it.

You are lying.

No buyers by tonnage from China.
China is now buying them from Brazil and Argentina.

 

[charwin95]

What did everyone expect? Trump is a moron that does not learn anything and does not take advice. He is an ineffectual retard compared to the serious people on the other side of the negotiating table.

Trump is like a little a 11 yo kid.

He saw a group of kids playing nice game. Then comes in without understanding how the games played. Get in and start dictating how it works. Then wonder it doesn’t work ......... screwed up...... start pointing fingers.

1. Foreign policies.
2. Domestic policies.

 

[JGalt]

The trade balance is actually worse than it seems because record oil and gas exports from the USA are masking the decline in goods and services exports.

Manufacturing is already in decline in the USA and investment in industry is declining.

Donald Trump has trashed brand America and consumers around the world are reducing their purchases of US manufactures and services.

Tourism by foreigners has also declined as Donald Trump has made foreigners feel they are unwelcome in the USA.

Donald Trump has shot Uncle Sam in both feet.

Infographic: U.S. Trade Deficit in Goods Reaches Record High

U.S. Trade Deficit in Goods Reaches Record High
by Felix Richter,
Aug 5, 2019

Despite all efforts by the Trump administration to reign in the country’s trade deficit, the gap between imports to and exports from the United States climbed to a 10-year high in the first half of 2019. According to figures released by the Bureau of Economic Analysis on Friday, the U.S. trade deficit in goods and services declined slightly in June, bringing the total deficit to $316 billion for the first half of 2019, the highest it’s been since 2008. The increase was mainly caused by a historically high deficit in goods trade, which amounted to a record $439 billion, of which $219 billion can be traced back to trade with China alone.

While the U.S. trade deficit continues to climb overall, imports from China have in fact been affected by the ongoing trade war between the two economic superpowers. U.S. goods imports from China dropped by more than $30 billion in the first half of 2019 compared to the previous year.

DESCRIPTION
This chart shows the U.S. trade balance in goods, services and overall. ...

However, price index shows that prices are slightly falling and profit margins improving and inflation is unchanged despite of higher tariffs.

That means that tariffs are not passed on consumers as leftist media are saying.

Tell it to farmers and residents of rural America who have been turned into welfare recipients.

If tariffs were such a great economic booster, every country would be imposing 1000% tariffs on all imports.

Da fuq are you babbling about? I live in a rural area. Farmers are just now harvesting their corn and soybean crops here. And they can't find enough people to fill the retail, manufacturing, and other jobs.

Dude: You're ate up with it.

You are lying.

No buyers by tonnage from China.
China is now buying them from Brazil and Argentina.

China just bought 2.2 million tons of soybeans from us, as the trade negotiations are going on. They are also buying them from Brazil and Argentina, but there's a world-wide soybean glut right now. If we can get a deal worked out with China, we can easily undercut Brazil and Argentina.

Things take time, but the long-term benefits are worth the effort.

 

[charwin95]

The trade balance is actually worse than it seems because record oil and gas exports from the USA are masking the decline in goods and services exports.

Manufacturing is already in decline in the USA and investment in industry is declining.

Donald Trump has trashed brand America and consumers around the world are reducing their purchases of US manufactures and services.

Tourism by foreigners has also declined as Donald Trump has made foreigners feel they are unwelcome in the USA.

Donald Trump has shot Uncle Sam in both feet.

Infographic: U.S. Trade Deficit in Goods Reaches Record High

However, price index shows that prices are slightly falling and profit margins improving and inflation is unchanged despite of higher tariffs.

That means that tariffs are not passed on consumers as leftist media are saying.

Tell it to farmers and residents of rural America who have been turned into welfare recipients.

If tariffs were such a great economic booster, every country would be imposing 1000% tariffs on all imports.

Da fuq are you babbling about? I live in a rural area. Farmers are just now harvesting their corn and soybean crops here. And they can't find enough people to fill the retail, manufacturing, and other jobs.

Dude: You're ate up with it.

You are lying.

No buyers by tonnage from China.
China is now buying them from Brazil and Argentina.

China just bought 2.2 million tons of soybeans from us, as the trade negotiations are going on. They are also buying them from Brazil and Argentina, but there's a world-wide soybean glut right now. If we can get a deal worked out with China, we can easily undercut Brazil and Argentina.

Things take time, but the long-term benefits are worth the effort.

Trump made us unreliable trade partners especially with China.

Argentina and Brazil was not part of these Trump craziness now they are a big partner of China.

Just wondering what long term benefits are you looking when we were doing great to begin with without this TW.

Today he just imposed tariffs against Brazil and Argentina’s steel and aluminum. Talking about ineptness.

 

[Zorro!]

Tariffs simply will not "solve" the trade deficit. Trump has never understood this, nor do his followers. Thinking that a trade deficit is a problem fundamentally misunderstands the nature of the economy.

We have a trade deficit because we don't have enough savings to fund our spending. To fund our savings requires us to import capital. And the only way to finance importing capital is to run a trade deficit. Period, full-stop.

If you understood economics, you would have understood that Trump's policies would increase our trade deficit because it would increase our rate of growth and it would increase our deficit. The former increases demand for imports relative to exports, and the latter because it decreases our national savings.

But I'm sure very few in this thread want to have an intellectual discussion about this. It's much easier just tossing partisan insults and bromides at one another.

I have never understood this crap coming out of "think tanks" that push your line, until I saw how many of them were funded by Chinese Cash.

Our Trade Deficit is a SUBTRACTION from GDP. U.S. trade deficit falls 7.6% in October to 16-month low on decline in Chinese imports.

The deficit slid to $47.2 billion from a revised $51.1 billion in the prior month, the government said Thursday. If it persists through December, the smaller gap could give a boost to gross domestic product in the fourth quarter.​

For the second month in a row the U.S. posted a record surplus in petroleum, showcasing the country’s reemergence as an energy superpower.​

 

[Denizen]

Tariffs simply will not "solve" the trade deficit. Trump has never understood this, nor do his followers. Thinking that a trade deficit is a problem fundamentally misunderstands the nature of the economy.

We have a trade deficit because we don't have enough savings to fund our spending. To fund our savings requires us to import capital. And the only way to finance importing capital is to run a trade deficit. Period, full-stop.

If you understood economics, you would have understood that Trump's policies would increase our trade deficit because it would increase our rate of growth and it would increase our deficit. The former increases demand for imports relative to exports, and the latter because it decreases our national savings.

But I'm sure very few in this thread want to have an intellectual discussion about this. It's much easier just tossing partisan insults and bromides at one another.

I have never understood this crap coming out of "think tanks" that push your line, until I saw how many of them were funded by Chinese Cash.

Our Trade Deficit is a SUBTRACTION from GDP. U.S. trade deficit falls 7.6% in October to 16-month low on decline in Chinese imports.

The deficit slid to $47.2 billion from a revised $51.1 billion in the prior month, the government said Thursday. If it persists through December, the smaller gap could give a boost to gross domestic product in the fourth quarter.​

For the second month in a row the U.S. posted a record surplus in petroleum, showcasing the country’s reemergence as an energy superpower.​

You are more than 200% wrong because the retail mark-up on factory price for Chinese goods is 200-600% and more in some cases.

This means that $47 billion of Chinese goods is worth $94-$280 billion to Americans. Subtract that from the GDP and see what the effect is.

 

[Ame®icano]

China to exempt U.S. soybeans, pork from tariffs list

The Chinese government said Friday it will exempt U.S.-made soybeans and pork from a list of punitive tariffs, a sign of potential progress in a trade conflict that's lasted now for more than a year.

Beijing's Customs Tariff Commission of the State Council said the exemptions are a result of "applications submitted by related enterprises." China said it would make the exemptions based on "domestic needs."

The move comes ahead of a new round of U.S. tariffs on Dec. 15 that will impose a 15 percent tax on $160 billion worth of certain Chinese products shipped to the United States.

Tariffs are not working.

LOL

 

[danielpalos]

China to exempt U.S. soybeans, pork from tariffs list

The Chinese government said Friday it will exempt U.S.-made soybeans and pork from a list of punitive tariffs, a sign of potential progress in a trade conflict that's lasted now for more than a year.

Beijing's Customs Tariff Commission of the State Council said the exemptions are a result of "applications submitted by related enterprises." China said it would make the exemptions based on "domestic needs."

The move comes ahead of a new round of U.S. tariffs on Dec. 15 that will impose a 15 percent tax on $160 billion worth of certain Chinese products shipped to the United States.

Tariffs are not working.

LOL

Chinese tariffs for soybeans have so far greatly affected U.S. farmers, to the tune of billions of dollars. China, meanwhile, is facing a crisis in its pork market after losing a large swath of its pig population due to African swine fever.

 

[Ame®icano]

China to exempt U.S. soybeans, pork from tariffs list

The Chinese government said Friday it will exempt U.S.-made soybeans and pork from a list of punitive tariffs, a sign of potential progress in a trade conflict that's lasted now for more than a year.

Beijing's Customs Tariff Commission of the State Council said the exemptions are a result of "applications submitted by related enterprises." China said it would make the exemptions based on "domestic needs."

The move comes ahead of a new round of U.S. tariffs on Dec. 15 that will impose a 15 percent tax on $160 billion worth of certain Chinese products shipped to the United States.

Tariffs are not working.

LOL

Chinese tariffs for soybeans have so far greatly affected U.S. farmers, to the tune of billions of dollars. China, meanwhile, is facing a crisis in its pork market after losing a large swath of its pig population due to African swine fever.

Nobody is saying that tariffs didn't affected farmers. Trump knew it will happen, so he subsidize them from the tariffs he put on China. But it's not end of the world, it's not gonna happen overnight, they have to be patient.

 

[danielpalos]

China to exempt U.S. soybeans, pork from tariffs list

The Chinese government said Friday it will exempt U.S.-made soybeans and pork from a list of punitive tariffs, a sign of potential progress in a trade conflict that's lasted now for more than a year.

Beijing's Customs Tariff Commission of the State Council said the exemptions are a result of "applications submitted by related enterprises." China said it would make the exemptions based on "domestic needs."

The move comes ahead of a new round of U.S. tariffs on Dec. 15 that will impose a 15 percent tax on $160 billion worth of certain Chinese products shipped to the United States.

Tariffs are not working.

LOL

Chinese tariffs for soybeans have so far greatly affected U.S. farmers, to the tune of billions of dollars. China, meanwhile, is facing a crisis in its pork market after losing a large swath of its pig population due to African swine fever.

Nobody is saying that tariffs didn't affected farmers. Trump knew it will happen, so he subsidize them from the tariffs he put on China. But it's not end of the world, it's not gonna happen overnight, they have to be patient.

The problem is Government solves all problems for the right wing.

Since that is the case, our Constitution expressly applies every time we have to quibble about it.

Our welfare clause is General and we have a Commerce Clause in particular.

Only lousy capitalists lose money on public policies.

 

[Zorro!]

Actually, the opening post is just wrong.

The Trade deficit has been improving all year, and every dollar of improvement is an addition to GDP.

Dec/18 the deficit was: MINUS $60,807M
Oct/19 (latest number) that has improved to MINUS $47,199

China is still robbing us blind though:

THAT’S NOT WORRISOME AT ALL: Chinese researcher accused of trying to smuggle vials of ‘biological material’ out of US hidden in a sock.

 

[Denizen]

Actually, the opening post is just wrong.

The Trade deficit has been improving all year, and every dollar of improvement is an addition to GDP.

Dec/18 the deficit was: MINUS $60,807M
Oct/19 (latest number) that has improved to MINUS $47,199

China is still robbing us blind though:

THAT’S NOT WORRISOME AT ALL: Chinese researcher accused of trying to smuggle vials of ‘biological material’ out of US hidden in a sock.

The improvement is mostly due to burgeoning oil and gas exports. Manufacturing has actually been declining for 3 quarters.

The steel industry is in a parlous state after Trump's intervention.

Coal outlook is black and bleak.

The orange man should stick to his area of expertise, money laundering.

 

[Zorro!]

It improved last year:

Chinese Intel Officers Indicted for Stealing Personal Data of 145 Million Americans in Equifax Hack.

We are their best customers and they rob us blind. It looks like the tariffs are going to need to continue.

 

[Bush92]

It improved last year:

Chinese Intel Officers Indicted for Stealing Personal Data of 145 Million Americans in Equifax Hack.

We are their best customers and they rob us blind. It looks like the tariffs are going to need to continue.

China...like Russia...is an enemy of the United States.

 

[Denizen]

It improved last year:

Chinese Intel Officers Indicted for Stealing Personal Data of 145 Million Americans in Equifax Hack.

We are their best customers and they rob us blind. It looks like the tariffs are going to need to continue.

China...like Russia...is an enemy of the United States.

Since Donald Trump's inauguration, every country is an enemy of the USA.

Even the UK is turning against Trump's USA.

 

[charwin95]

Casualties of Trump wonderful Trade Wars. This country deserves better than this president.

China Trade War Walloped More Than Half of U.S. States in 2019

Exporters from most U.S. states experienced dismal sales to China last year as tariffs slammed products ranging from wheat and whiskey to ginseng and gas.

Total U.S. merchandise exports to China fell 11% last year to about $107 billion, according to the latest data from the U.S. Commerce Department. Particularly hard hit were some of the nation’s largest exporters to the Asian country -- Texas, Florida and Alabama -- which each saw sales plunge by more than 25%.

The figures don’t yet reflect two significant developments for the world economy this year: The U.S-China trade deal signed in January that is supposed to significantly boost American exports to China and the coronavirus outbreak in the Asian nation.

Amid the casualties, though, were some bright spots, including the presidential swing state of North Carolina, where exports to China jumped 40% last year to $3.25 billion, driven in large part by pharmaceutical sales.

 

[charwin95]

2029 about 20% of US farmers file bankruptcies. I wonder what and how that $28 billions distributed. Another example of a Trump corruption?



U.S. Watchdog to Investigate Trump’s Farm Bailout Program

U.S. Watchdog to Investigate Trump’s Farm Bailout Program

The Government Accountability Office will review how the $28 billion farm bailout aimed at cushioning trade-related losses was spent.