Trump's tariffs are a solution in search of a problem

[Sandy Shanks]

We have, by far, the largest economy in the world. In GDP terms, our economy is $7 trillion more than our nearest competitor, China. The World's Top 20 Economies

Prior to the beginning of last week our economy was on fire, and the stock market was setting records nearly every week. Essentially, we have full employment. Wages are up. GDP is up. Our economy has been on a tear for nine years.

So, what seems to be the problem?

To be more specific, what exactly is the problem Trump is trying to solve with his harsh tariffs? Why in the world start a trade war with the second largest economy in the world and the one economy American consumers rely upon most? Why drive up prices? Why place inflationary pressures on our economy and, perhaps, cause a recession?

Sure, there are inequities in the trading relationship between the U.S. and China, but there are always inequities in every trading relationship with every country, even Canada. And, yes, China is stealing a portion of our I.T.

But, Trump's tariffs are like taking a blowtorch to light a birthday candle.

What has been the result? The stock market is the canary in the coal mine. How has it done since Trump's tweet signaling trouble ahead? Large cap stocks, or those in the S&P 500, have now lost $1.1 trillion since Trump surprised markets with his May 5 weekend tweets.

Today the Dow Jones Industrial Average dropped 617.38 points, or 2.4%, to 25,324.99 and posted its worst session since Jan. 3. The S&P 500 also had its worst day since early January, falling 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% — its biggest one-day loss of the year — to 7,647.02.

Instead of cooperating and fulfilling Trump's fantasies concerning the outcome, China retaliated by raising tariffs on $60 billion in goods. There are no talks scheduled.

Beginning with Monday of last week millions of Americans have lost millions of dollars in retirement savings, and it is likely to get worst.

“I think this is a prelude of things to come,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “We should expect more volatility for the foreseeable future.”

All of this is the responsibility of Donald J. Trump. Thank you, Mr. President. No doubt Vladimir Putin is proud of your performance.

 

[Jitss617]

We have, by far, the largest economy in the world. In GDP terms, our economy is $7 trillion more than our nearest competitor, China. The World's Top 20 Economies

Prior to the beginning of last week our economy was on fire, and the stock market was setting records nearly every week. Essentially, we have full employment. Wages are up. GDP is up. Our economy has been on a tear for nine years.

So, what seems to be the problem?

To be more specific, what exactly is the problem Trump is trying to solve with his harsh tariffs? Why in the world start a trade war with the second largest economy in the world and the one economy American consumers rely upon most? Why drive up prices? Why place inflationary pressures on our economy and, perhaps, cause a recession?

Sure, there are inequities in the trading relationship between the U.S. and China, but there are always inequities in every trading relationship with every country, even Canada. And, yes, China is stealing a portion of our I.T.

But, Trump's tariffs are like taking a blowtorch to light a birthday candle.

What has been the result? The stock market is the canary in the coal mine. How has it done since Trump's tweet signaling trouble ahead? Large cap stocks, or those in the S&P 500, have now lost $1.1 trillion since Trump surprised markets with his May 5 weekend tweets.

Today the Dow Jones Industrial Average dropped 617.38 points, or 2.4%, to 25,324.99 and posted its worst session since Jan. 3. The S&P 500 also had its worst day since early January, falling 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% — its biggest one-day loss of the year — to 7,647.02.

Instead of cooperating and fulfilling Trump's fantasies concerning the outcome, China retaliated by raising tariffs on $60 billion in goods. There are no talks scheduled.

Beginning with Monday of last week millions of Americans have lost millions of dollars in retirement savings, and it is likely to get worst.

“I think this is a prelude of things to come,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “We should expect more volatility for the foreseeable future.”

All of this is the responsibility of Donald J. Trump. Thank you, Mr. President. No doubt Vladimir Putin is proud of your performance.

Another democrat anti American thread

 

[Remodeling Maidiac]

Leave it to a simpleton to COMPLETELY ignore a MASSIVE trade imbalance

 

[ThisIsMe]

I'll give you my uneducated guess, and I say that up front, because I'm not stock market savvy. Here's what my take on it is, from what I've been hearing in the news over the last few years.

China has been known for placing tariffs on our exports for a very long time, at the same time, they are stealing our patents, our intellectual property and our technology.

How many billions...or trillions has America lost over the last 15 or more years due to loss of revenue because rather than China buying our technology, and our goods, they steal the designs and just produce it for themselves? All the while placing tariffs on our exports.

At some point, this has to stop, and if we keep humming along and letting it happen, it never will. Maybe it's time someone rocked the boat, and made a stand to protect our interests.

Perhaps we may be in for rough times ahead, but if we stick to it, isnt it possible that we will be better off once we get to the other side? Maybe China is just saber rattling right now, trying to get us to back off, but if they see we are committed, maybe they will concede and we can actually have fair trade in the end.

 

[Missouri_Mike]

I'll give you my uneducated guess, and I say that up front, because I'm not stock market savvy. Here's what my take on it is, from what I've been hearing in the news over the last few years.

China has been known for placing tariffs on our exports for a very long time, at the same time, they are stealing our patents, our intellectual property and our technology.

How many billions...or trillions has America lost over the last 15 or more years due to loss of revenue because rather than China buying our technology, and our goods, they steal the designs and just produce it for themselves? All the while placing tariffs on our exports.

At some point, this has to stop, and if we keep humming along and letting it happen, it never will. Maybe it's time someone rocked the boat, and made a stand to protect our interests.

Perhaps we may be in for rough times ahead, but if we stick to it, isnt it possible that we will be better off once we get to the other side? Maybe China is just saber rattling right now, trying to get us to back off, but if they see we are committed, maybe they will concede and we can actually have fair trade in the end.

China is basically fucked if they can't import to us at such a cheap rate. Will you need to pay more for a shirt? Yes. But they can't survive without selling that shirt. Trump is kicking them into a corner and it's great to see. You don't win fights without getting hit here and there. You win when they can't take anymore punches. Suck it up.

 

[Harpy Eagle]

Leave it to a simpleton to COMPLETELY ignore a MASSIVE trade imbalance

What damage does a trade imbalance cause?

 

[Clipper]

Anyone who thinks we can win a trade war with China is out of their fucking mind, including that assclown Trump who started it. Wait till the Chinese start dumping T-bills & then we'll see how smart Trump is & who he blames for another fucked up circus that he's creating with his big mouth. I have a feeling Trump will change his mind real quick when that happens.

Trump blew $1 billion dollars & he thinks he can outsmart the Chinese? He couldn't even keep casinos afloat & anyone who thinks he can is a bigger moron then he is for falling for his self aggrandizing bullshit. Wake up, it's all about stroker Trumps fucking ego & his juvenille need for attention.

 

[MarathonMike]

We have, by far, the largest economy in the world. In GDP terms, our economy is $7 trillion more than our nearest competitor, China. The World's Top 20 Economies

Prior to the beginning of last week our economy was on fire, and the stock market was setting records nearly every week. Essentially, we have full employment. Wages are up. GDP is up. Our economy has been on a tear for nine years.

So, what seems to be the problem?

To be more specific, what exactly is the problem Trump is trying to solve with his harsh tariffs? Why in the world start a trade war with the second largest economy in the world and the one economy American consumers rely upon most? Why drive up prices? Why place inflationary pressures on our economy and, perhaps, cause a recession?

Sure, there are inequities in the trading relationship between the U.S. and China, but there are always inequities in every trading relationship with every country, even Canada. And, yes, China is stealing a portion of our I.T.

But, Trump's tariffs are like taking a blowtorch to light a birthday candle.

What has been the result? The stock market is the canary in the coal mine. How has it done since Trump's tweet signaling trouble ahead? Large cap stocks, or those in the S&P 500, have now lost $1.1 trillion since Trump surprised markets with his May 5 weekend tweets.

Today the Dow Jones Industrial Average dropped 617.38 points, or 2.4%, to 25,324.99 and posted its worst session since Jan. 3. The S&P 500 also had its worst day since early January, falling 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% — its biggest one-day loss of the year — to 7,647.02.

Instead of cooperating and fulfilling Trump's fantasies concerning the outcome, China retaliated by raising tariffs on $60 billion in goods. There are no talks scheduled.

Beginning with Monday of last week millions of Americans have lost millions of dollars in retirement savings, and it is likely to get worst.

“I think this is a prelude of things to come,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “We should expect more volatility for the foreseeable future.”

All of this is the responsibility of Donald J. Trump. Thank you, Mr. President. No doubt Vladimir Putin is proud of your performance.

I take it you are in the Biden camp of "Hey there's some nice folks over there in China.They aren't a threat! " Well you, Biden and the rest of the Globalists are dead wrong. Rather than take Obama's strategy of incubating a budding enemy a la ISIS, Trump is doing what the Presidents before him should have done. They would have been much easier to deal with before they got to this level of strength.

So he needs to put the hammer down on their illegal trade practices, their criminal activities with US technology, and their blatant currency manipulation. There are many more reasons why it is imperative Trump bring China back in line before it is too late. They will not be satisfied being number 2 and if they were to become the number one super power, the mask will come off.

 

[ThisIsMe]

Anyone who thinks we can win a trade war with China is out of their fucking mind, including that assclown Trump who started it. Wait till the Chinese start dumping T-bills & then we'll see how smart Trump is & who he blames for another fucked up circus that he's creating with his big mouth. I have a feeling Trump will change his mind real quick when that happens.

Trump blew $1 billion dollars & he thinks he can outsmart the Chinese? He couldn't even keep casinos afloat & anyone who thinks he can is a bigger moron then he is for falling for his self aggrandizing bullshit. Wake up, it's all about stroker Trumps fucking ego & his juvenille need for attention.

You have a point. There has ready been murmurings of countries getting away from the u.s. dollar, and if that happens, we will be the ones on the losing end. What are we supposed to do though? It certainly isnt doing us any good allowing other countries to keep on taking advantage of us. At some point, enough is enough.

 

[kyzr]

Leave it to a simpleton to COMPLETELY ignore a MASSIVE trade imbalance

What damage does a trade imbalance cause?

Eventually the US would have no manufacturing sector and lose all those jobs.
What harm is there having free and fair trade?

One of my friends sells Harleys. He had a sale to a German, until it got hit with a 100% tariff. We have 0% tariffs on German motorcycles. Can you see how stupid US tariff policy was before Trump?

 

[Harpy Eagle]

Eventually the US would have no manufacturing sector and lose all those jobs.

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

What harm is there having free and fair trade?

Free trade is good, fair trade is a fairy tale.

One of my friends sells Harleys. He had a sale to a German, until it got hit with a 100% tariff. We have 0% tariffs on German motorcycles. Can you see how stupid US tariff policy was before Trump?

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.

Can you see how stupid trade wars are?

 

[Remodeling Maidiac]

Funny how when unions go on strike supposedly for fair treatment it is cheered by the left despite the temporary pain those workers and businesses feel.
But God forbid if America does it for all.

 

[NoVote]

So, what seems to be the problem?

The problem is teaching the chins a lesson they can understand and get the American mind off the chinese junk tit.

 

[BasicHumanUnit]

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

Free trade is good, fair trade is a fairy tale.

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.

Can you see how stupid trade wars are?

First of all, stop using Google as your primary or only search engine. You'll only get a solid leftist perspective on nearly everything..

 

[Harpy Eagle]

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

Free trade is good, fair trade is a fairy tale.

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.

Can you see how stupid trade wars are?

First of all, stop using Google as your primary or only search engine. You'll only get a solid leftist perspective on nearly everything..

Everything I said is 100% accurate. If you can show otherwise then feel free to do so.

As for your advice on how to use the Internet...fuck off.


Sent from my iPhone using USMessageBoard.com

 

[Harpy Eagle]

Funny how when unions go on strike supposedly for fair treatment it is cheered by the left despite the temporary pain those workers and businesses feel.
But God forbid if America does it for all.

Funny how when unions go on strike it is denigrated by the right but when America does it it is cheered.




Sent from my iPhone using USMessageBoard.com

 

[kyzr]

Eventually the US would have no manufacturing sector and lose all those jobs.

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

What harm is there having free and fair trade?

Free trade is good, fair trade is a fairy tale.

One of my friends sells Harleys. He had a sale to a German, until it got hit with a 100% tariff. We have 0% tariffs on German motorcycles. Can you see how stupid US tariff policy was before Trump?

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.
Can you see how stupid trade wars are?

1. US manufacturing jobs have NOT been growing for "decades", especially after China joined the WTO in 2001:

2. I don't think that the MC sale was that recent, it was well before June 2018 when the EU imposed tariffs.
EU tariffs on US goods come into force
Trade wars may be necessary from time to time to level the playing field for US manufacturing and US jobs. Just imagine what happens when the US imposes tariffs on imported cars. Trump calls that "the mother lode".

 

[Harpy Eagle]

Eventually the US would have no manufacturing sector and lose all those jobs.

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

What harm is there having free and fair trade?

Free trade is good, fair trade is a fairy tale.

One of my friends sells Harleys. He had a sale to a German, until it got hit with a 100% tariff. We have 0% tariffs on German motorcycles. Can you see how stupid US tariff policy was before Trump?

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.
Can you see how stupid trade wars are?

1. US manufacturing jobs have NOT been growing for "decades", especially after China joined the WTO in 2001:

2. I don't think that the MC sale was that recent, it was well before June 2018 when the EU imposed tariffs.
EU tariffs on US goods come into force
Trade wars may be necessary from time to time to level the playing field for US manufacturing and US jobs. Just imagine what happens when the US imposes tariffs on imported cars. Trump calls that "the mother lode".

1. I said output, not jobs. The jobs went down because of automation and process improvements. That is why even as number of jobs was going down production was still going up.

Compare the timeline of the widespread introduction of Six Sigma to when the jobs started dropping...very close correlation.

2. The EU has never had 100% tariffs on HD. Your friend lied to you.

Tariffs on imported cars would likely cost Trump any chance of reelection.


Sent from my iPhone using USMessageBoard.com

 

[kyzr]

Eventually the US would have no manufacturing sector and lose all those jobs.

This is a myth. US manufacturing output has been consistently growing for decades with the exception of recession years. Our manufacturing output is almost double that it was in 1990.

What harm is there having free and fair trade?

Free trade is good, fair trade is a fairy tale.

One of my friends sells Harleys. He had a sale to a German, until it got hit with a 100% tariff. We have 0% tariffs on German motorcycles. Can you see how stupid US tariff policy was before Trump?

The EU imposed the tariffs on HD after Trump imposed tariffs on their steel and aluminum.
Can you see how stupid trade wars are?

1. US manufacturing jobs have NOT been growing for "decades", especially after China joined the WTO in 2001:

2. I don't think that the MC sale was that recent, it was well before June 2018 when the EU imposed tariffs.
EU tariffs on US goods come into force
Trade wars may be necessary from time to time to level the playing field for US manufacturing and US jobs. Just imagine what happens when the US imposes tariffs on imported cars. Trump calls that "the mother lode".

1. I said output, not jobs. The jobs went down because of automation and process improvements. That is why even as number of jobs was going down production was still going up.

Compare the timeline of the widespread introduction of Six Sigma to when the jobs started dropping...very close correlation.

2. The EU has never had 100% tariffs on HD. Your friend lied to you.

Tariffs on imported cars would likely cost Trump any chance of reelection.


Sent from my iPhone using USMessageBoard.com

1. OK, I know Six Sigma, I even have a belt! That's more of a production quality set of analysis skills. I also moved several factories over seas. So I know why the US lost manufacturing jobs.
Six Sigma - Wikipedia

2. OK, maybe I mis-heard him, he lost the sale. Maybe it was a 10% tariff?

3. Tariffs on imported cars would guarantee Trump's election, especially by winning MI.

 

[Indeependent]

We have, by far, the largest economy in the world. In GDP terms, our economy is $7 trillion more than our nearest competitor, China. The World's Top 20 Economies

Prior to the beginning of last week our economy was on fire, and the stock market was setting records nearly every week. Essentially, we have full employment. Wages are up. GDP is up. Our economy has been on a tear for nine years.

So, what seems to be the problem?

To be more specific, what exactly is the problem Trump is trying to solve with his harsh tariffs? Why in the world start a trade war with the second largest economy in the world and the one economy American consumers rely upon most? Why drive up prices? Why place inflationary pressures on our economy and, perhaps, cause a recession?

Sure, there are inequities in the trading relationship between the U.S. and China, but there are always inequities in every trading relationship with every country, even Canada. And, yes, China is stealing a portion of our I.T.

But, Trump's tariffs are like taking a blowtorch to light a birthday candle.

What has been the result? The stock market is the canary in the coal mine. How has it done since Trump's tweet signaling trouble ahead? Large cap stocks, or those in the S&P 500, have now lost $1.1 trillion since Trump surprised markets with his May 5 weekend tweets.

Today the Dow Jones Industrial Average dropped 617.38 points, or 2.4%, to 25,324.99 and posted its worst session since Jan. 3. The S&P 500 also had its worst day since early January, falling 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% — its biggest one-day loss of the year — to 7,647.02.

Instead of cooperating and fulfilling Trump's fantasies concerning the outcome, China retaliated by raising tariffs on $60 billion in goods. There are no talks scheduled.

Beginning with Monday of last week millions of Americans have lost millions of dollars in retirement savings, and it is likely to get worst.

“I think this is a prelude of things to come,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “We should expect more volatility for the foreseeable future.”

All of this is the responsibility of Donald J. Trump. Thank you, Mr. President. No doubt Vladimir Putin is proud of your performance.

Because there are many industries that still require a boost in employment.
Not everybody is a math whiz or can build a house.