Trump's trade war with China

[Neil Austen]

One thing people forget about Trump. He doesn't care. It's not his money he's betting with. It's not his livelihood at stake. Trump will be fine either way with his Russian money. So when you have everything to gain and nothing to lose, you go all in with other people's money. Trump is just repugnant.

Well, at least this way, Trump won't be elected again. I mean, how much of a mental deficient must you be to still defend this orange clown.

Trump is taxing Americans to death. I hope Americans and Trump supporters realize that tariff is just another word for TAX, paid by Americans collected by their government. Since the Chinese Tariffs Trump is forcing on American importers who will pass the cost down to American consumers as higher prices affects 70 PERCENT OF ALL CONSUMER GOODS then household expenses are going to skyrocket. With over 40 million Americans already living in poverty (more than the entire population of Canada) I see a disaster in the making. Trump doesn't care though.

 

[Sandy Shanks]

Comedy hour at the G-7.

A summit of world leaders devolved into a confusing spectacle on Sunday when Trump signaled regret for his trade war with China only to have the White House reverse his position hours later.

Trump, for the first time, appeared to acknowledge regrets about his trade war with China and the escalating feud.

To a reporter's question about his trade war and the fears of global recession, Trump replied, “Yeah, sure. Why not. Might as well. I have second thoughts about everything.”

Maybe for the first time in his Presidency Trump lapsed and was being perfectly honest, which would be a rare moment for him.

Several hours later, White House press secretary Stephanie Grisham tried to recast Trump’s comments, alleging they had been taken out of context.

“The president was asked if he had ‘any second thought on escalating the trade war with China.’ His answer has been greatly misinterpreted. President Trump responded in the affirmative — because he regrets not raising the tariffs higher,” she said in a statement.

Trump’s top economic adviser, Larry Kudlow, offered an even different characterization later, telling reporters that Trump had difficulty hearing the question.

Aw, this is getting to be too much.

The Washington Post helped with this statement. https://www.washingtonpost.com/poli...42ea78-c67a-11e9-b5e4-54aa56d5b7ce_story.html

 

[Sandy Shanks]

Jennifer Rubin of the Washington Post writes, "Apparently, President Trump will lie about anything. He lies that his wife has gotten to know North Korea President Kim Jong Un. They’ve never met. He lies that Russia was excluded from the Group of Eight (now Group of Seven) because Vladimir Putin got the better of former president Barack Obama (and then lied that the other members agree with him); in fact, the members collectively threw Russia out for invading and occupying Ukraine. He lied that he had concluded a trade deal with Japan when in fact there was only a deal “in principle.”

"He lies about calls from Chinese officials:"

Trump claimed to have gotten two phone calls on Sunday night from high-ranking Chinese officials seeking to negotiate a trade deal. “High-level calls,” he said. Chinese government officials said Monday that they were unaware of any such calls.

Trump couldn't even get his own treasury secretary to confirm the calls. Mnuchin is no idiot. He is not going to get wrapped up in a Trump tall take.

Trump untruths included at least eight false claims in his G7 press conference, plus at least five more misleading/questionable/lacking in key context. He lives in his own little world where he is allowed to make up his own reality.

The Dow and the broader stock market finished sharply higher on Monday, reversing course from Friday's selloff caused by Presidential tweets. Trump said China wants to get back to the negotiating table, and the Dow gained 270 points.

When it became apparent that Trump lied about the phone calls, the Dow today lost 121 of those 270 points.

It is anyone's guess as to how much longer Wall Street will continue to believe Trump.

 

[Sandy Shanks]

Trump's trade war with China began March 22, 2018. https://en.wikipedia.org/wiki/China–United_States_trade_war

This chart shows how serious the problem is, the problem being Trump's trade war with China. Readers should take a close look at this chart and use the scanning tool provided. It will show the stock market has been treading water for the past twenty months because of his trade war.

Dow Jones - 10 Year Daily Chart

Since Trump started his trade war with China, the Dow has actually lost ground.

On Jan. 29, 2018, the Dow hit its 2018 high of 26,439. Today, the stock market rallied (hooray!). The Dow soared 258 points to reach 26,036.

That is only 403 points shy of where we were on Jan. 29, 2018.

 

[Sandy Shanks]

Trump refuses to defend his policies. Trump is scared to death of the White House press corps. Trump has terminated press conferences conducted by his press secretary in the White House press room. Trump has conducted two full-fledged press conferences in two and a half years. Both were disasters, and he won't hold another. By way of contrast, by this time Obama had conducted 20 solo press conferences. Presidential News Conferences | The American Presidency Project

Trump has become the secret President.

He likes to hold news conferences with friendly reporters on the White House lawn with Marine One churning away. Although unpresidential, Trump is forced to shout his answers, and reporters' question are difficult, if not impossible, to hear.

 

[Correll]

Comedy hour at the G-7.

A summit of world leaders devolved into a confusing spectacle on Sunday when Trump signaled regret for his trade war with China only to have the White House reverse his position hours later.

Trump, for the first time, appeared to acknowledge regrets about his trade war with China and the escalating feud.

To a reporter's question about his trade war and the fears of global recession, Trump replied, “Yeah, sure. Why not. Might as well. I have second thoughts about everything.”

Maybe for the first time in his Presidency Trump lapsed and was being perfectly honest, which would be a rare moment for him.

Several hours later, White House press secretary Stephanie Grisham tried to recast Trump’s comments, alleging they had been taken out of context.

“The president was asked if he had ‘any second thought on escalating the trade war with China.’ His answer has been greatly misinterpreted. President Trump responded in the affirmative — because he regrets not raising the tariffs higher,” she said in a statement.

Trump’s top economic adviser, Larry Kudlow, offered an even different characterization later, telling reporters that Trump had difficulty hearing the question.

Aw, this is getting to be too much.

The Washington Post helped with this statement. https://www.washingtonpost.com/poli...42ea78-c67a-11e9-b5e4-54aa56d5b7ce_story.html

Wow.


An admission that he had worried about the possible negative effects of his policy is considered newsworthy?


Reporters are so stupid, that I find myself wondering, why we don't hear more about them dying in large numbers, because they wander away and fall off cliffs, or just forget to drink water for a few days.

 

[Sandy Shanks]

Trump's trade war with China began March 22, 2018. https://en.wikipedia.org/wiki/China–United_States_trade_war

This chart shows how serious the problem is. Anyone thinking that Trump is responsible for any profit they may have made on their investments should take a close look at this chart and use the scanning tool provided.

Dow Jones - 10 Year Daily Chart

A far more important point is the fact that since Trump started his trade war with China, the Dow has actually lost ground.

On Jan. 29, 2018, the Dow hit its 2018 high of 26,439. As of August 30, 2019, the Dow stood at 26,403, a net loss of 36 points.

 

[Sandy Shanks]

Farm Bureau Federation President Zippy Duvall said, “China’s announcement that it will not buy any agricultural products from the United States is a body blow to thousands of farmers and ranchers who are already struggling to get by.”

Duvall pointed out, “Now, we stand to lose all of what was a $9.1 billion market in 2018, which was down sharply from the $19.5 billion U.S. farmers exported to China in 2017.”

The Farm Bureau report showed that farmer bankruptcies had risen in every region of the U.S. for the year ending in June except for the Southwest. Wisconsin, Kansas and Minnesota led the nation in Chapter 12 filings; bankruptcy filings in Kansas and Minnesota increased so significantly in the past year that they reached the highest levels of the past decade.

Farmers are probably the first to realize that they will have lost a lot of Chinese market share to other countries or that China will start to grow more of the crops they have been importing. It has taken decades to grow the Chinese market but a significant amount will be lost in just a few years due to Trump’s tariffs and China’s retaliation.

A Newsweek article in May detailed a Fox News interview with Patty Edelburg, vice president of the Washington-based National Farmers Union, which represents about 200,000 U.S. farms. In the interview she said, "It has been insane. We've had a lot of farmers—a lot more bankruptcies going on, a lot more farmer suicides.

https://www.forbes.com/sites/chuckj...-bankruptcies-and-suicides-rise/#73d86c32bc8d

The Trump White House has taken one of America’s leading export sectors and turned it into a group dependent upon government welfare for its very survival.

Trump tweeted, "farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!

 

[Sandy Shanks]

Trump tweeted, "farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!

The Chinese are patient, and Xi Jinping is a very patient man. They are used to five, ten, and twenty year plans. Xi is also politically savvy. He knows Trump is a very unpopular President and is getting more unpopular everyday as his trade war becomes more serious..Because of his 15% tariff, prices on popular consumer goods go up big time beginning Sept. 1.

Trump has until November 2020 to make some progress. So far his trade war has been disastrous, and Wall Street has been treading water since Jan. 2018. Today, even Trump is concerned about a possible recession.

All Xi has to do is wait him out. Actually, in Chinese terms, Xi doesn't have long to wait. Thirteen months, that is thirteen seconds on the Chinese clock.

 

[danielpalos]

"If anyone had doubts that trade was the thing hanging over the market, today seals it," said Bill Stone, chief investment officer with Avalon Investment & Advisory.

Tariffs on popular consumer goods like clothing, shoes, computers, and cell phones cause higher prices. Even Trump admitted that yesterday. Higher prices cause inflation. Inflation causes less demand. Less demand causes unemployment. Tariffs cause recession, Econ 101.

When Americans suffer investment losses it causes permanent loss of principle, fourth grade math. Millions of Americans permanently lost more of their principle in investment accounts today.

As things stand now, the Dow has lost over 575 points, the Nasdaq over 200 points, and the S&P over 65 points. The reason: Stocks plunged on Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy, a recession warning.

There have been five such warnings of the 2-year and 10-year yields since 1978 and all were precursors to a recession.

Dow tanks 800 points in worst day of 2019 after bond market sends recession warning

Today, the Dow is at 25,690. On March 15, the Dow was 25,440. Because of Trump's trade war with China, the market has been treading water for five months. Stock Market News For Feb 15, 2019

I have been a student of current political history for over a half century, and I am a retired columnist. Never in my 50 years have I seen a U.S. President repeatedly harm our economy and cause investment losses. The current President is doing that very thing. The past three weeks prove it.

We are reminded that Trump was Putin's personal choice to become our President.

The Cost of right wing Bigotry?

in an alternate left wing universe, our current, more left wing administration is busier "unleashing our inner Pygmalion and creating more artistic deals in modern times".

We have a Commerce Clause and corporate welfare is alive and well. A trade war would be recognized as totally unnecessary when we could upgrade infrastructure instead and provide corporate welfare for those sectors experiencing the greatest hardships.

 

[Correll]

Trump tweeted, "farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!

The Chinese are patient, and Xi Jinping is a very patient man. They are used to five, ten, and twenty year plans. Xi is also politically savvy. He knows Trump is a very unpopular President and is getting more unpopular everyday as his trade war becomes more serious..Because of his 15% tariff, prices on popular consumer goods go up big time beginning Sept. 1.

Trump has until November 2020 to make some progress. So far his trade war has been disastrous, and Wall Street has been treading water since Jan. 2018. Today, even Trump is concerned about a possible recession.

All Xi has to do is wait him out. Actually, in Chinese terms, Xi doesn't have long to wait. Thirteen months, that is thirteen seconds on the Chinese clock.

Wait him out for WHAT exactly? What is Xi hoping to gain in this?

 

[Correll]

"If anyone had doubts that trade was the thing hanging over the market, today seals it," said Bill Stone, chief investment officer with Avalon Investment & Advisory.

Tariffs on popular consumer goods like clothing, shoes, computers, and cell phones cause higher prices. Even Trump admitted that yesterday. Higher prices cause inflation. Inflation causes less demand. Less demand causes unemployment. Tariffs cause recession, Econ 101.

When Americans suffer investment losses it causes permanent loss of principle, fourth grade math. Millions of Americans permanently lost more of their principle in investment accounts today.

As things stand now, the Dow has lost over 575 points, the Nasdaq over 200 points, and the S&P over 65 points. The reason: Stocks plunged on Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy, a recession warning.

There have been five such warnings of the 2-year and 10-year yields since 1978 and all were precursors to a recession.

Dow tanks 800 points in worst day of 2019 after bond market sends recession warning

Today, the Dow is at 25,690. On March 15, the Dow was 25,440. Because of Trump's trade war with China, the market has been treading water for five months. Stock Market News For Feb 15, 2019

I have been a student of current political history for over a half century, and I am a retired columnist. Never in my 50 years have I seen a U.S. President repeatedly harm our economy and cause investment losses. The current President is doing that very thing. The past three weeks prove it.

We are reminded that Trump was Putin's personal choice to become our President.

The Cost of right wing Bigotry?

in an alternate left wing universe, our current, more left wing administration is busier "unleashing our inner Pygmalion and creating more artistic deals in modern times".

We have a Commerce Clause and corporate welfare is alive and well. A trade war would be recognized as totally unnecessary when we could upgrade infrastructure instead and provide corporate welfare for those sectors experiencing the greatest hardships.

Excellent gibberish.

If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?

 

[Harpy Eagle]

Excellent gibberish.

If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?

That is as stupid as asking why the Iraqis fought back after we invaded their country, since we were doing it for their own good.

 

[Harpy Eagle]

Trump tweeted, "farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!

The Chinese are patient, and Xi Jinping is a very patient man. They are used to five, ten, and twenty year plans. Xi is also politically savvy. He knows Trump is a very unpopular President and is getting more unpopular everyday as his trade war becomes more serious..Because of his 15% tariff, prices on popular consumer goods go up big time beginning Sept. 1.

Trump has until November 2020 to make some progress. So far his trade war has been disastrous, and Wall Street has been treading water since Jan. 2018. Today, even Trump is concerned about a possible recession.

All Xi has to do is wait him out. Actually, in Chinese terms, Xi doesn't have long to wait. Thirteen months, that is thirteen seconds on the Chinese clock.

Wait him out for WHAT exactly? What is Xi hoping to gain in this?

Xi is hoping to get a new president that is more reasonable and willing to negotiate and does not conduct diplomacy via tweets.

 

[Correll]

Excellent gibberish.

If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?

That is as stupid as asking why the Iraqis fought back after we invaded their country, since we were doing it for their own good.

Says the man that didn't answer the question.


What the fuck is it with you people that you hit reply to questions, but so rarely actually fucking answer them?


THe question stands.



If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?


And btw, we both know why you didn't answer the question. Because the answer makes Trumps position.

 

[Correll]

Trump tweeted, "farmers will be a a very BIG and FAST beneficiary of our deal with China. They intend to start purchasing agricultural product immediately. We make the finest and cleanest product in the World, and that is what China wants. Farmers, I LOVE YOU!

The Chinese are patient, and Xi Jinping is a very patient man. They are used to five, ten, and twenty year plans. Xi is also politically savvy. He knows Trump is a very unpopular President and is getting more unpopular everyday as his trade war becomes more serious..Because of his 15% tariff, prices on popular consumer goods go up big time beginning Sept. 1.

Trump has until November 2020 to make some progress. So far his trade war has been disastrous, and Wall Street has been treading water since Jan. 2018. Today, even Trump is concerned about a possible recession.

All Xi has to do is wait him out. Actually, in Chinese terms, Xi doesn't have long to wait. Thirteen months, that is thirteen seconds on the Chinese clock.

Wait him out for WHAT exactly? What is Xi hoping to gain in this?

Xi is hoping to get a new president that is more reasonable and willing to negotiate and does not conduct diplomacy via tweets.

That is HOW he wants to get what he wants to gain. not WHAT he wants to gain.



What is it that makes this an issue, and not something "grown ups" ignore?

 

[Harpy Eagle]

Excellent gibberish.

If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?

That is as stupid as asking why the Iraqis fought back after we invaded their country, since we were doing it for their own good.

Says the man that didn't answer the question.


What the fuck is it with you people that you hit reply to questions, but so rarely actually fucking answer them?


THe question stands.



If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?


And btw, we both know why you didn't answer the question. Because the answer makes Trumps position.

I answered you question, the Chinese are fighting back because we started the war and they are defending their interest.

Are you really this stupid? I think that fighting is unnecessary, but if you start a fight with me I will darn will defend myself.

 

[Harpy Eagle]

That is HOW he wants to get what he wants to gain. not WHAT he wants to gain.



What is it that makes this an issue, and not something "grown ups" ignore?

I told you what he wants to gain, a leader that is reasonable and will negotiate in an honest manner.

 

[Correll]

Excellent gibberish.

If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?

That is as stupid as asking why the Iraqis fought back after we invaded their country, since we were doing it for their own good.

Says the man that didn't answer the question.


What the fuck is it with you people that you hit reply to questions, but so rarely actually fucking answer them?


THe question stands.



If the Trade War is unnecessary, then why are the Chinese fighting one,and not just giving US what we want?


And btw, we both know why you didn't answer the question. Because the answer makes Trumps position.

I answered you question, the Chinese are fighting back because we started the war and they are defending their interest.

Are you really this stupid? I think that fighting is unnecessary, but if you start a fight with me I will darn will defend myself.

What is their INTEREST in this?


You are dancing around the answer, because saying it, proves Trump right.

 

[Correll]

That is HOW he wants to get what he wants to gain. not WHAT he wants to gain.



What is it that makes this an issue, and not something "grown ups" ignore?

I told you what he wants to gain, a leader that is reasonable and will negotiate in an honest manner.

That is nonsense. That is not a reason to fight a trade war.


Responsible grown ups, don't start trade wars, GLOBAL trade wars, over not liking the style of the other guy.


Leaders fight to win benefits for their people or nations. What is Xi trying to win?