Steel and aluminum tariffs...

[boutons_deux]

We estimate China only makes $8.46 from an iPhone – and that’s why Trump’s trade war is futile


China's biggest exports to the U.S.

China's top exports to the U.S., like cell phones and computers, haven't yet been hit by Trump's tariffs.

But given their size, they're bound to be targeted if the trade war escalates.

The top 10 product categories made up almost three-quarters of China's $505 billion in exports to the U.S. in 2017.

Cell phones and other household goods$70.36 bln

Computers
$45.52

Telecommunications equipment
$33.49 bln

Computer accessories

Toys, games, and sporting goods
$26.75 bln

Apparel, textiles, nonwool or cotton
$24.14 bln

Furniture, household goods, etc.
$20.67 bln

Other parts and accessories of vehicles
1 bln

Household appliances

Electric apparatus

https://theconversation.com/we-estimate-china-only-makes-8-46-from-an-iphone-and-thats-why-trumps-trade-war-is-futile-99258

[boutons_deux]

Trump’s delusions are about to blow up in his own voters’ faces

the issue that taps most directly into the most visceral strains of Trumpism is his escalating trade war with China.

Given how often he preens about his “toughness” toward China before roaring, worshipful rally crowds,

it’s hard to see how he’ll back down, no matter what the consequences.

Numbers provided to me by the Brookings Institution suggest that those

consequences will most directly impact the counties that voted for Trump.

Indeed, the numbers show that

China has taken aggressive steps to sharpen its targeting of Trump counties

in the latest round of retaliatory tariffs it just announced (https://piie.com/blogs/trade-investment-policy-watch/chinas-retaliation-trumps-tariffs).

Politico notes that

Trump has “no clear exit strategy and no explicit plans to negotiate new rules of the road with China,

leaving the global trade community and financial markets wracked with uncertainty.”

But Trump loyalists say

he’s playing a long game and won’t buckle. :lol

As Stephen K. Bannon puts it, Trump “has preached a confrontation with China for 30 years,” making this a “huge moment” that

pits “Trump against all of Wall Street.” :lol Bannon! :lol

Despite this phony populist posturing about Trump targeting “Wall Street,”

Trump counties are the ones most likely to take a hit.

The Brookings Institution, which keeps

detailed county-by-county data on employment by industry, looked at all the counties that have jobs in industries that China is targeting,

and broke them out by counties that voted for Trump and Hillary Clinton. Brookings provided me with this table showing the results:

https://www.washingtonpost.com/resizer/lXTR9_t-mcETKi8xpy4aRd1krac=/1484x0/arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/CBY4TM7WUE3HZNJMVSA54N7IMA.png
https://www.washingtonpost.com/blogs/plum-line/wp/2018/07/09/trumps-delusions-are-about-to-blow-up-in-his-own-voters-faces/?utm_term=.501099243852&wpisrc=nl_most&wpmm=1

[boutons_deux]

BMW just retaliated against Trump with a devastating move

"Bavarian Motor Works, more famously known as BMW, has just announced that they will be moving a large portion of their SUV production to China,

where Brilliance Automotive Group Holdings will be building nearly half a million vehicles every year for the company by next year.

The move was provoked by the recent 40% tariff that China slapped on the vehicles, which in turn was in response to Donald Trump’s imposition of $34 billion in tariffs on Chinese goods, (https://www.npr.org/2018/07/06/626453571/china-says-u-s-has-begun-largest-trade-war-in-history-retaliates-with-tariffs)

provoking the “largest trade war in history.” (http://thehill.com/policy/finance/395754-china-accuses-trump-of-launching-the-biggest-trade-war-in-economic-history)

The BMW move is likely to hit Trump voters the hardest,

as their plant in Spartanburg County, South Carolina, employs over 10,000 people.

BMW was once the largest auto exporter in the United States – but no more.
https://washingtonpress.com/2018/07/10/bmw-just-retaliated-against-trump-with-a-devastating-move/

[boutons_deux]

Trump Falsely Claims It’s ‘Impossible’ for American Farmers to Do Business in Europe

The United States exported $11.5 billion in agricultural products to the European Union last year.

In fact, the 28 countries of the European Union are the United States’ fifth-largest export market for agricultural goods,

like tree nuts and soybeans, totaling $11.5 billion in 2017,

according to the Department of Agriculture (https://www.fas.usda.gov/data/top-markets-us-agricultural-exports-2017).

But the United States did import about $10 billion more in agricultural products,

like wine, beer and chocolate, from the European Union than it exported there.

(Overall, the United States has had an agricultural trade surplus with the rest of the world since 1960 (https://www.ers.usda.gov/topics/international-markets-us-trade/us-agricultural-trade/us-agricultural-trade-at-a-glance/).)

https://www.nytimes.com/2018/07/10/us/politics/trump-fact-check-european-union-agriculture.html?partner=rss&emc=rss

So US exports low/no added value ag products, and imports high-value ag products, with EU.

Goddamn, you Trash supporters are fucking stupid.

[boutons_deux]

Six lies on trade

from Dean Baker

After 500 days of Donald Trump’s presidency, it is clear that

any relationship between his statements and the truth are purely coincidental.

He even boasts about his lack of interest in the truth,

touting the fact that he had no idea what our trade deficit was with Canada when he confronted Canadian Prime Minister Justin Trudeau over our “$100 billion trade deficit.”

(The actual figure is around $20 billion.)

But Donald Trump’s contempt for the truth should not cause the rest of us to become liars also. In fact, it is more important than ever that progressives ground arguments in reality.

This is especially the case with trade, where lying was standard fare long before Donald Trump entered politics. Here are six common lies which deserve major pushback any time they appear.

1. Everyone gains from trade.

This is not even the textbook story. The textbook tells us there are winners and losers. In the standard story, the winners gain more than the losers lose. This means that the winners could compensate the losers so that everyone is better off. In the real world, this compensation never takes place, so the losers just lose.

If this is hard to understand, suppose we arranged for 300,000 highly qualified doctors from other countries to start practicing in the United States. This influx would probably lower our doctors’ pay by around $100,000 a year each to roughly European levels.

This would save us close to $100 billion annually ($700 per family) on health care costs. That’s a big gain to the rest of us, but a big loss to US doctors. That’s basically the story of trade, but the competition has been for manufacturing workers.

2. The loss of manufacturing jobs was due to productivity growth, not trade.

This is a classic economist’s sleight of hand. Manufacturing productivity typically increases at the rate of 2-3 percent annually. (It has been much slower in the last dozen years.) This is also roughly the rate of growth of demand, which means that increased demand for goods typically offset the jobs lost to productivity growth.

The data are clear. In the three decades from December 1970 to December 2000, manufacturing employment only fell by 100,000, less than 1 percent.

By contrast, we lost more than 3.4 million manufacturing jobs from 2000 to 2007 (before the crash), which was more than 20 percent of total employment.

This was due to the explosion of the trade deficit in these years, which peaked at almost 6 percent of GDP in 2005 and 2006. That would be equal to $1.2 trillion annually in today’s economy.

There were benefits from getting cheap imports, but it is incredibly dishonest not to acknowledge the enormous job loss associated with the expansion of the trade deficit in those years.

And of course, over the last 50 years, many more manufacturing jobs were lost to productivity than trade. This is true, but completely irrelevant.

3. It is inevitable that less-educated workers lose jobs to the developing world.

This is a great example where the classism of our elites obstructs clear thinking. It is absolutely true that there are hundreds of millions of people in the developing world who are willing to work in factories at a fraction of the wages that US manufacturing workers receive. This means that opening to trade puts downward pressure on the wages of US manufacturing workers, and less-educated workers more generally, as they either accept large pay cuts or lose their jobs.

The complication is that there are also tens of millions of very smart hard-working people in the developing world who would be happy to work in the United States as doctors, dentists, lawyers or as other highly paid professionals at a fraction of the pay of our professionals. They could train to our standards and learn English where necessary. This would drive down the salary in highly paid professions, and thereby lead to savings to consumers, but we don’t allow it.

Trade deals have been about lowering the pay of less-educated workers, while highly paid professionals continue to enjoy protection from international competition.

4. Trade deficits don’t cost jobs.

It is very popular among pundits to claim that trade deficits don’t cost jobs by pointing to our current 3.8 percent unemployment rate, even as the deficit is on a course to exceed $600 billion (3 percent of GDP) this year.

While it is true that a trade deficit does not necessarily cost jobs, in a period where we are below full employment, a $100 billion increase in the trade deficit reduces demand and employment in the same way that a $100 billion reduction in investment would reduce demand and employment.

The large trade deficit in the last decade was certainly a big factor in the weak labor market recovery from the 2001 recession. We eventually filled the demand gap from the trade deficit with the demand generated by the housing bubble. This is hardly a good model for the future.

5. It is important that other countries respect “our” intellectual property.

This is a line that has come up repeatedly in Trump’s trade war with China. We have been told that we have an interest in making China pay for the intellectual property of US corporations that it allegedly steals.

Okay, it is clear that Pfizer has an interest in having its drug patents respected by China, as does Microsoft with its software copyrights and patents. But what about the vast majority of us who don’t own lots of stock in these or other companies that have intellectual property claims at risk?

The standard trade theory tells us that if China and other countries have to pay less money to Pfizer and Microsoft due to patent and copyright monopolies, they have more money to spend on other items we produce. In other words, the money they pay to these companies increases the trade deficit in other areas.

We do have to support innovation, but that is a separate issue. There are far more efficient (https://deanbaker.net/books/rigged.htm)mechanisms than patent and copyright monopolies for financing innovation in the 21st century.

6. The developing world needed to kill US manufacturing to allow people to escape poverty.

Hundreds of millions of people in the developing world have seen huge improvements in living standards over the last three decades, especially in China. These people went from living near or below poverty levels to enjoying middle-class living standards.

This is indeed a great story, but it is not true that this rise in living standards had to come at the expense of manufacturing workers in the United States and other wealthy countries.

In the 1990s, the countries of East Asia (the big success stories) had even more rapid growth than they did in the last decade. This was a period in which they were running large trade deficits, with the important exception of China, which had nearly balanced trade.

In principle, there is no reason these countries could not have continued on a path where domestic demand fueled growth and was funded by foreign investment flows.

However, the East Asian financial crisis hit in 1997. The United States led the bailout organized by the International Monetary Fund (IMF) and essentially required that these countries run large trade surpluses as a condition of getting aid.

The shift from running trade deficits to running trade surpluses was a requirement of the IMF, not a law of economic development. If these countries were allowed to continue to be importers of foreign investment (the standard textbook model), and sustained the 1990s growth path, they would be far richer today.

In fact, countries like South Korea and Malaysia would now be richer than the United States on a per person basis.

In short, it is simply not true that the pain to factory workers, who lost their jobs in the United States, was somehow a necessary condition for hundreds of millions of people in the developing world to escape poverty.

Other paths would have allowed for even more rapid growth in these countries.


Getting to a Reality-Based Trade Policy

Trump’s trade war will go down in flames when Trump eventually loses interest and goes back to the hunt for President Obama’s Kenyan birth certificate.

His reckless actions deserve all the ridicule and contempt they have received.

However, we should not go back to a trade policy that was based on lies.

We need a trade policy that is about raising the living standards of working people in the United States and the developing world, not just giving all the money to the rich.

https://rwer.wordpress.com/2018/07/11/six-lies-on-trade/

[boutons_deux]

‘Wherever you look, you see damage’: CNN analyst shows how Trump’s tariffs are killing the stock market

Breaking down the impact of the new tariffs, CNN financial analyst Richard Quest said that

there are potentially few winners and a whole lot of losers in the latest round of the president’s trade war.

Pointing to the losses in Wednesday’s stock market, Quest said we can expect more days like this if tensions keep escalating.

“Is this what a trade war looks like? Yes,” he said. “And at this stage, we’re only in the skirmish section.”

Host Kate Bolduan then asked him what comes next — and he pointed to a chart showing nothing but red numbers, indicating a dramatic decline in share values.

“This is what the next stage looks like!” he said excitedly, before pointing to dropping share prices of key American companies such as Caterpillar and United Airlines.

“Wherever you look, you are seeing the damage that is being done!

And remember the important thing about a trade war:

The gains are very limited.

They are those industries that benefit.

The losses are widespread and diversified throughout the economy.”

https://www.rawstory.com/2018/07/wherever-look-see-damage-cnn-analyst-shows-trumps-tariffs-killing-stock-market/ (https://www.rawstory.com/2018/07/wherever-look-see-damage-cnn-analyst-shows-trumps-tariffs-killing-stock-market/)

And the Repugs do nothing, in an election year, as Trash/Mnuchin/Ross kill Ms of US jobs and share prices.

[dabom]

That sick piece of orange shit.

[Chucho]

That sick piece of orange shit.

:lol:lol:lol:lol:lol:lol:lol:lol:lol:lol:lol:lol:l ol:lol:lol:lol:lol:lol:lol:lol:lol:lol:lol:lol

[boutons_deux]

How Rare Earths (What?) Could Be Crucial in a U.S.-China Trade War

Those minerals almost certainly came from China. Ms. Lacaze’s job is to give the world an alternative source, in case a global trade war spirals out of control and China cuts off supply.

But it has other ways to retaliate beyond tariffs. It could refuse to buy American products, like planes from Boeing. It could intensify regulation of American companies doing business on the mainland. It could threaten to offload a piece of its huge portfolio of Treasuries, which could rattle the bond market.

And in one of its more strategic weapons, Beijing could use its dominance to cut off key parts of the global supply chain.

China is the major supplier of a number of mundane but crucial materials and components needed to keep the world’s factories humming. They include obscure materials like arsenic metals, used to make semiconductors; cadmium, found in rechargeable batteries; and tungsten, found in light bulbs and heating elements.

They also include rare earths. A trade war risks putting those minerals in the middle of the conflict, potentially giving China a way to get back at the United States by cutting off supplies to American companies.

Already rare earths have become embroiled in the conflict — they were among the long list released on Tuesday of Chinese-made goods that the Trump administration wants to tax.

China has used its control of rare earths to try to get its way before. In 2010, it stopped exports to Japan (https://www.nytimes.com/2010/09/23/business/global/23rare.html) for two months over a territorial dispute.

Speculators hoarded rare earth minerals, sending prices soaring.

“There is a hole in the western supply chain,” said Ryan Castilloux, the founder of Adamas Intelligence, a research firm.

It is hard to go a day without using rare earths. They are found in personal electronics like smartphones, televisions and hair dryers, and electric and hybrid cars.

https://www.nytimes.com/2018/07/11/business/china-trade-war-rare-earths-lynas.html (https://www.nytimes.com/2018/07/11/business/china-trade-war-rare-earths-lynas.html)

Trash certainly foresaw this lethal weapon in China's trade war artillery.

[boutons_deux]

Hyundai Motor union warns auto tariffs could hurt US jobs

Hyundai Motor Co.’s labour union said Thursday that steep auto tariffs the U.S. is considering could cost tens of thousands of American jobs, echoing concerns of the global auto industry as spiraling trade conflicts between the U.S. and other major economies heat up.

The labour union at South Korea’s largest auto company said in a statement that if President Donald Trump goes ahead with imposing 25 per cent auto tariffs, it will hurt Hyundai’s U.S. sales and jeopardize some 20,000 jobs at a Hyundai factory in Alabama.

The labour union, which has 51,000 members in South Korea, said

its contracts with Hyundai Motor mandate Hyundai

to shut down overseas factories first

before closing its plants in South Korea

in the event that restructuring becomes inevitable.

https://business.financialpost.com/pmn/business-pmn/hyundai-motor-union-warns-auto-tariffs-could-hurt-us-jobs

That's how union power protects domestic jobs, unlike USA where BigCorp kills US jobs in preference for foreign jobs.

[boutons_deux]

China’s soybean imports forecast to fall as tariffs hit and buyers switch to other animal feed

Prices of oilseed from US to rise, prompting buyers to seek out alternatives, Chinese agriculture ministry report says

mports of soybeans in the crop year that starts on October 1 would be 93.85 million tonnes, down 1.8 million tonnes, or 2 per cent, from last month’s estimate, the Ministry of Agriculture and Rural Affairs said in its monthly crop report.

That compares with its estimate of 95.97 million for the 2017/18 crop year and would be the lowest import level since the 2016/17 year, according to US government records.

The ministry’s Chinese Agricultural Supply and Demand Estimates (CASDE) report said new 25 per cent tariffs on US shipments introduced last week would inflate prices of the oilseed.

Meanwhile, crushers that make meal and oil from the beans will process fewer beans in favour of other protein substitutes.

Meal made from rapeseed, peanuts and sunflower seeds are expected to be popular alternatives.

The government also cut its soybean consumption forecast by 2 per cent from the previous month’s outlook to 109.23 million tonnes.

That would still be 1 per cent higher than consumption in the 2017/18 crop year.

https://www.scmp.com/news/china/diplomacy-defence/article/2154988/chinas-soybean-imports-forecast-fall-tariffs-hit-and

[boutons_deux]

Here's retail price with the "tariff fee" listed separately

http://www.grizzly.com/products/7-X-14-Variable-Speed-Benchtop-Lathe/G0765

[KenMcCoy]

Here's retail price with the "tariff fee" listed separately

http://www.grizzly.com/products/7-X-14-Variable-Speed-Benchtop-Lathe/G0765

That's fantastic. If Grizzly doesn't figure it out soon, I'm sure some savvy US entrepreneur will figure out how to make the same products in the US for about $100 cheaper than the tariff price.

[boutons_deux]

That's fantastic. If Grizzly doesn't figure it out soon, I'm sure some savvy US entrepreneur will figure out how to make the same products in the US for about $100 cheaper than the tariff price.

The trade war future is unforeseeable, so nobody's going to spend $10Ms on a machinery factory for the low-end / hobby market

[boutons_deux]

IMF warns Trump trade war could cost global economy $430bn

US could find itself ‘focus of global retaliation’ in tariff dispute, says WEO report

Rising trade tensions between the United States and the rest of the world could cost the global economy $430bn (£324bn), with America “especially vulnerable” to an escalating tariff war, the International Monetary Fund (https://www.theguardian.com/business/imf) has warned.

Delivering a sharp rebuke for Donald Trump (https://www.theguardian.com/us-news/donaldtrump), the Washington-based organisation said the current threats made by the US and its trading partners risked lowering global growth by as much as 0.5% by 2020, or about $430bn in lost GDP worldwide.

Although all economies would suffer from further escalation,

the US would find itself “as the focus of global retaliation” with a relatively higher share of its exports taxed in global markets.

“It is therefore especially vulnerable,” the fund said.

https://www.theguardian.com/business/2018/jul/16/imf-trump-trade-war-global-economy-us-tariff-weo

Trash fucking up the American economy? Pootin LOVES it.

[sickdsm]

Saw a chart that showed since the beginning of the year the Dow was up 1%. Shanghai composite was down 16.8%. Lots of different opinions but I thought that was very interesting

[boutons_deux]

Saw a chart that showed since the beginning of the year the Dow was up 1%. Shanghai composite was down 16.8%. Lots of different opinions but I thought that was very interesting

incompetent asshole Greenspan's "irrational exuberance".

I've seen economists, market gurus saying US stockmarket is even more insanely overvalued (ready for a crash) than it was before the Banksters Great Depression, or the late 90s Internet boom.

[boutons_deux]

Saw a chart that showed since the beginning of the year the Dow was up 1%. Shanghai composite was down 16.8%. Lots of different opinions but I thought that was very interesting

incompetent asshole Greenspan's "irrational exuberance".

I've seen economists, market gurus saying US stockmarket is even more insanely overvalued (ready for a crash) than it was before the Banksters Great Depression, or the late 90s Internet boom.

[Winehole23]

US files WTO complaint:


The Trump administration is hitting back at a number of countries for what it considers unjustified retaliatory tariffs that were imposed as a response to the steel and aluminum duties the U.S. applied on its closest allies in the name of national security.

The U.S. Trade Representative said it launched formal challenges against China, the European Union, Canada, Mexico and Turkey at the World Trade Organization on Monday. They come in response to retaliatory measures taken by these countries on American-made products earlier this year.

The actions taken by the President are wholly legitimate and fully justified as a matter of U.S. law and international trade rules. Instead of working with us to address a common problem, some of our trading partners have elected to respond with retaliatory tariffs designed to punish American workers, farmers and companies,”

https://business.financialpost.com/news/economy/trump-hits-back-at-canada-allies-and-china-for-retaliatory-tariffs-with-wto-complaint“

[boutons_deux]

How Trump’s tariffs on Mexico are taking jobs from U.S. workers

With Mid Continent charging more for nails, orders are down 70 percent from this time a year ago despite a booming construction industry. Company officials say that without relief, the Missouri plant could be out of business by Labor Day — or that remaining production could move to Mexico or another country.

hampered a Mexican company’s multimillion-dollar effort to create jobs in the United States — an unintended consequence of Trump’s trade war (https://www.washingtonpost.com/news/wonk/wp/2018/07/06/the-trump-tariff-tracker-how-severe-is-the-pain/) that demonstrates the difficulty of attacking trading partners without hurting workers at home.

The layoffs have already begun. The company now employs fewer than 400 workers, down from about 500 before the tariffs took effect last month. Temporary contract workers have been let go. Some permanent workers have left for other jobs, in anticipation of a new wave of employment losses or the possible shuttering of the plant.

“We’re in a situation where we’re fighting against our own country,”

a battle we shouldn’t be having to fight.”

“There’s a lot of good things :lol that he is doing. :lol

But he’s affecting me now, and I don’t appreciate it,” Bennett, a Trump supporter, said of the president.

https://www.washingtonpost.com/business/economy/trumps-tariffs-on-mexico-are-causing-layoffs-in-the-united-states/2018/07/18/03ec1e74-8473-11e8-9e80-403a221946a7_story.html?utm_term=.f665d65fde17

Trash's cult still supports Trash as Trash screws them while enriching the swamp and the "elites"

[KenMcCoy]

Journalism at it's finest...at least this guy attempts to tell the other side of the story:

"Not everyone is hurting from the tariffs. Magnitude 7 Metals in New Madrid County, Missouri, was able to reopen an aluminum product line and rehire 450 workers."

https://www.theblaze.com/news/2018/06/26/largest-us-nail-manufacturer-lays-off-employees-warns-it-may-have-to-shut-down-over-trump-tariffs

I guess those 60 people laid off at Mid Continent can just drive the 60 miles and start working there. Or go to Illinois or Arkansas to the other US nail manufacturers who are hiring.

[Winehole23]

In such precarious times, holding American farmers hostage as a bargaining chip in a trade war, and telling them to wait for some yet-to-be-revealed plan, as Agriculture Secretary Perdue (https://www.usatoday.com/story/opinion/2018/06/25/donald-trump-china-tariff-retaliation-intellectual-property-agriculture-farm-perdue-column/725447002/) has done, is offensive and dangerous.


To add insult to injury is Perdue’s rationale behind this escalation: theft of intellectual property in the form of patented genetically engineered seed varieties. We should remember that farmers are not the ones who reap benefits from patented seed technologies. Those profits go to the patent-holding company itself, which these days is one of ever-fewer multinational seed conglomerates, while farmers watch their seed prices skyrocket.
http://thehill.com/opinion/energy-environment/397793-american-farmers-are-the-biggest-losers-in-trumps-unnecessary

[Winehole23]

If the Trump administration is truly concerned about the fate of U.S. farmers and ranchers on the global stage, there is a long list of bold steps it could take. It could push back at the World Trade Organization and fight for Country of Origin Labeling (COOL), a policy widely supported by farmers and eaters, that would increase transparency in our food system and allow consumers to choose U.S. raised meat products.

It could stop the flow of taxpayer money to new and often foreign-backed mega-farms in the poultry, hog and dairy industries — all of which are flooding the market, crashing prices and pushing out existing farmers. It could support state-level policies designed to protect U.S. farmland from purchase by foreign entities.

This administration could also challenge Congress to pass pro-farmer policies in the 2018 farm bill that establish fair farm prices, eradicate corrupt check-off programs and close loopholes that allow the biggest farms to keep getting bigger.

It could reform trade to make it truly fair. Current trade policy is predicated on the myth that export markets will save farmers in the absence of fair pricing policy, if they just get bigger, take on more debt and produce as much as possible to “feed the world” — a narrative that has been a prevailing force driving American family farmers towards extinction.
Ibid.

[koriwhat]

Germany will bend the knee. I've been saying it.

fuck germany altogether. let them rot into the shithole islamic country they seek to be.

[boutons_deux]

Journalism at it's finest...at least this guy attempts to tell the other side of the story:

"Not everyone is hurting from the tariffs. Magnitude 7 Metals in New Madrid County, Missouri, was able to reopen an aluminum product line and rehire 450 workers."

https://www.theblaze.com/news/2018/06/26/largest-us-nail-manufacturer-lays-off-employees-warns-it-may-have-to-shut-down-over-trump-tariffs

I guess those 60 people laid off at Mid Continent can just drive the 60 miles and start working there. Or go to Illinois or Arkansas to the other US nail manufacturers who are hiring.

the losers and lost $Bs will far outweigh the tiny number of winners.

Trash's simple-minded, "easy-to-win" trade war will fuck his cult badly.

[KenMcCoy]

the losers and lost $Bs will far outweigh the tiny number of winners.

Trash's simple-minded, "easy-to-win" trade war will fuck his cult badly.

500 manufacturing jobs is lost billions?

[SnakeBoy]

the losers and lost $Bs will far outweigh the tiny number of winners.

Trash's simple-minded, "easy-to-win" trade war will fuck his cult badly.

boutons the free trader :lol

[boutons_deux]

500 manufacturing jobs is lost billions?

the Trash damage is just getting rolling, please be patient, "wait for it"

[Winehole23]

ignore the catastrophizing lede, to fight deindustrialization and race to the bottom labor arbitrage, focus on local content rules:


Tariffs might not be the answer, but they reflect an increasingly desperate attempt to break the stranglehold on a system which increasingly focuses less on “free trade” per se and more on simply privileging oligarchs and entrenching the powerful multinational corporations at the expense of everybody else. An increasing focus on local content rules might represent a more effective response than tariffs of helping to re-establish more domestically oriented supply chains, and reversing the adverse impact of offshoring. It would also deter governments from seeking to monopolize particular industries, and deter firms from offshoring based on labor arbitrage. This eliminates bubbles driven by overinvestment (Asia) with profits recycled as consumption elsewhere, because governments, unable to deindustrialize their trading partners, have little incentive to overinvest in industry and dump the products to drive others out of business. And for its part, the private sector will invest only in response to actual or projected demand.https://www.nakedcapitalism.com/2018/07/trumps-trade-war-with-china-will-cause-an-economic-catastrophe-heres-a-better-solution.html

[boutons_deux]

500 manufacturing jobs is lost billions?

the IMF estimate was a world-wide loss, not specifically US loss

If Trash keeps trashing the economy with his trade war, the US loss alone could be in the $Bs.

But that's OK with you Trash-fellators, as long as Trash "wins", it doesn't matter who loses.

[boutons_deux]

Trump faces growing storm on car import tariffs at Commerce hearing

The procession of industry groups and foreign governments lining up to oppose President Trump’s car tariffs is starting to look like a rush-hour traffic jam.

“The importation of motor-vehicle parts is not a risk to our national security,” Ann Wilson, senior vice president of government affairs of the Motor and Equipment Manufacturers Assn., told a public hearing Thursday on the auto industry. “However,

the imposition of tariffs is a risk to our economic security that jeopardizes supplier jobs and investments in the United States.”

The Commerce Department is holding the hearing as it probes whether imports of passenger vehicles imperil U.S. national security.

The administration has received extremely limited support for the idea that foreign cars undermine America’s ability to defend itself.

That’s a stark contrast from the U.S. investigation into steel and aluminum imports earlier this year. In that case, American steel producers and steelworker unions lobbied for tariffs, giving Trump political cover to slap duties eventually on foreign shipments.

“This one is much more of an uphill climb for the administration,” said Edward Alden, a senior fellow and trade expert at the Council on Foreign Relations in Washington.

“We’re starting to see the damage from the steel and aluminum tariffs and the various retaliations.

The impact of this action is so much larger than those that the opposition is going to be far better mobilized and far stronger.”

Commerce Secretary Wilbur Ross opened the hearing

seeking to dispel the notion that

the Trump administration has made up its mind. :lol waffle time!
His department received nearly

2,300 written submissions from industry groups, unions, foreign governments and individuals commenting on the investigation.

The head of one major carmakers’ trade group said

only three substantive comments supported tariffs.

America’s trade in cars and car parts with the rest of the world amounted to more than $470 billion last year.

The nation imported about $135 billion more in passenger cars than exported.
“These higher costs will inevitably lead to declining sales and the loss of American jobs, as well as increasing vehicle service and repair costs that may result in consumers delaying critical vehicle maintenance,”

“The auto industry has been thriving in recent years and such action, adding to market uncertainty, will certainly reverberate strongly and

have negative consequences for long-term industry growth and recovery.”
GM said in a submission that it would face a stark choice if Trump goes ahead with tariffs:

increase prices for consumers and hurt sales, or

swallow the tariff cost and move plants.

Either way, it would mean job cuts and lower wages for employees, and

“a smaller GM” with “a reduced presence at home and abroad,” the biggest U.S. automaker said.
(http://www.latimes.com/business/la-fi-trump-car-tariffs-20180719-story.html#nws=mcnewsletter)
http://www.latimes.com/business/la-fi-trump-car-tariffs-20180719-story.html#nws=mcnewsletter (http://www.latimes.com/business/la-fi-trump-car-tariffs-20180719-story.html#nws=mcnewsletter)

Obama "saved" GM, Trash would love spite the knitter and hurt GM badly

[KenMcCoy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)

[boutons_deux]

GE CEO says China tariffs' 'gross cost' could be $400 million

In comment on the tariffs set up by President Donald Trump,

Flannery said GE imports about $2.9 billion worth of goods annually from China, roughly 10 percent of total its imports.

The cost of the tariffs “could be $300 to $400 million at a gross level before any mitigating factors,” he said.

GE said it can

lessen the costs by shifting to suppliers in other countries and

by using “duty drawbacks” that provide refunds on duties paid on goods that are later exported.

https://www.reuters.com/article/us-ge-results-ceo/ge-ceo-says-china-tariffs-gross-cost-could-be-400-million-idUSKBN1KA1YH?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

[KenMcCoy]

GE CEO says China tariffs' 'gross cost' could be $400 million

In comment on the tariffs set up by President Donald Trump,

Flannery said GE imports about $2.9 billion worth of goods annually from China, roughly 10 percent of total its imports.

The cost of the tariffs “could be $300 to $400 million at a gross level before any mitigating factors,” he said.

GE said it can

lessen the costs by shifting to suppliers in other countries and

by using “duty drawbacks” that provide refunds on duties paid on goods that are later exported.

https://www.reuters.com/article/us-ge-results-ceo/ge-ceo-says-china-tariffs-gross-cost-could-be-400-million-idUSKBN1KA1YH?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29




Also in article:

Flannery said such drawbacks “could mitigate half or more” of the tariff costs. Adjusting GE’s supplier network to avoid tariffs could happen “over time,” he added.
“We don’t see a major impact yet financially, certainly not on our 2018 guidance,” Flannery said on a conference call with analysts after GE released second-quarter results.

Translation: if we don't make any changes to our supply chain the tariffs will cost us a little money, but our supply chain folks are working with US vendors to avoid the tariffs and save the company $$.

Companies with good procurement/supply chain teams will solve the tariff issues easily. Companies like Mid-Continent Nail who are stuck buying all of their raw materials from their parent company in Mexico will be hit hard. Exactly how the tariffs are intended to work.

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)

What will the net utility loss to overall US consumers be?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)

Current year economic growth is pegged at 4%. How many of those jobs would have occurred regardless of tariffs due to organic growth in domestic demand?

[RandomGuy]

Also in article:

Flannery said such drawbacks “could mitigate half or more” of the tariff costs. Adjusting GE’s supplier network to avoid tariffs could happen “over time,” he added.
“We don’t see a major impact yet financially, certainly not on our 2018 guidance,” Flannery said on a conference call with analysts after GE released second-quarter results.

Translation: if we don't make any changes to our supply chain the tariffs will cost us a little money, but our supply chain folks are working with US vendors to avoid the tariffs and save the company $$.

Companies with good procurement/supply chain teams will solve the tariff issues easily. Companies like Mid-Continent Nail who are stuck buying all of their raw materials from their parent company in Mexico will be hit hard. Exactly how the tariffs are intended to work.

Steel consumers in the US will not be able to avoid increased costs. Domestic manufacturers raised prices.

How many construction projects will be affected by increased rebar costs?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)


For manufacturers of heavy equipment such as Caterpillar Inc. and Deere & Co., JP Morgan analysts predict that the tariffs could dent their fiscal 2019 earnings by 6 percent and 9 percent respectively. Steel is the largest raw materials cost for both companies.

The National Association of Home Builders has spoken out against the tariffs as it’s still recovering from the Canadian lumber tariffs of 2017. It claims that higher steel costs would raise construction costs, which could eventually be passed on to homebuyers.
https://www.thehortongroup.com/resources/the-effect-of-trumps-tariffs-on-construction

Why should those steel jobs be more important than jobs at Caterpillar?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)


WASHINGTON, D.C. — With virtually all construction costs tied to either materials or labor, President Donald Trump’s tariffs on two key building supplies could further exacerbate the construction industry’s longtime worker shortage, according to industry experts.

But there’s more at stake than short-term increases in materials costs. By forcing construction firms to allocate more operating income toward materials, the tariffs are likely to prevent firms from offering higher wages to attract more labor.

https://rebusinessonline.com/how-will-steel-aluminum-tariffs-impact-construction-labor/

Seems like anyone who builds things for a living is going to take a hit to their bottom line.

Homeowners, cities, states, etc.

Also from the above article:


Immediate labor impact
A recent study from Trade Partnership Worldwide LLC, a Washington, D.C.-based economic consulting firm, estimates that the tariffs will generate an overall net loss of 146,000 jobs. The report also notes that across all impacted sectors
there will be five jobs lost for every new job gained.

[RandomGuy]

boutons the free trader :lol

http://tradepartnership.com/reports/comptia-tech-trade-snapshot-imports-and-exports-of-tech-products-and-services-2018/

Report is free to download.

Not that I will hold my breath that you will get off your lazy, dishonest ass and read it. I await your lazy smiley and brief personal attack.

[SnakeBoy]

http://tradepartnership.com/reports/comptia-tech-trade-snapshot-imports-and-exports-of-tech-products-and-services-2018/

Report is free to download.

Not that I will hold my breath that you will get off your lazy, dishonest ass and read it. I await your lazy smiley and brief personal attack.

meh

[boutons_deux]

Trash The Lying Destructor ain't done, yet

Trump says he's prepared to slap tariffs on all $500B in Chinese imports to U.S.

https://www.usatoday.com/story/money/2018/07/20/trump-threatened-slap-tariffs-all-505-b-chinese-imports/805700002/

[RandomGuy]

Not that I will hold my breath that you will get off your lazy, dishonest ass and read it.


meh

:cry muh-meh :cry

As predicted.

Your Trump Party is fucking the country over to the tune of billions, and five jobs lost to every one gained. No big deal right? Magic "R" to the rescue.

[SnakeBoy]

:cry muh-meh :cry

As predicted.

Your Trump Party is fucking the country over to the tune of billions, and five jobs lost to every one gained. No big deal right? Magic "R" to the rescue.

Fake news. Economy is a rockin. 68% approval on economy.

[TDMVPDPOY]

china is going through countries thats not on trump lists, and registering companies there and selling shit to america...

is trump going to do something about this???

hence why doesnt america shift its manufacturing home or somewhere else in south america? u tellin me even with the struggle for the american dream, working with low wages is still better then begging right? or maybe go back to social system in certain states where u provide free housing, meals, basic utility bills paid for cheap labor?

[RandomGuy]

Fake news. Economy is a rockin. 68% approval on economy.

Glib about the suffering caused by your favorite President. I'm shocked that an asshole like you would be so gleeful about it. What do you want to do for an encore, drag a crying 2 year old from her mother?

At the MidContinent Steel and Wire plant in Poplar Bluff, Missouri, where Magnum Fasteners products are made, 60 employees were laid off this month as certain operations were idled due to lost business from increased steel costs.
https://www.cbsnews.com/news/factory-workers-lose-jobs-as-steel-tariffs-put-business-in-crisis-mode/

[RandomGuy]

Fake news. Economy is a rockin. 68% approval on economy.

77,000/123,000,000

[boutons_deux]

Also in article:

Flannery said such drawbacks “could mitigate half or more” of the tariff costs. Adjusting GE’s supplier network to avoid tariffs could happen “over time,” he added.
“We don’t see a major impact yet financially, certainly not on our 2018 guidance,” Flannery said on a conference call with analysts after GE released second-quarter results.

Translation: if we don't make any changes to our supply chain the tariffs will cost us a little money, but our supply chain folks are working with US vendors to avoid the tariffs and save the company $$.

Companies with good procurement/supply chain teams will solve the tariff issues easily. Companies like Mid-Continent Nail who are stuck buying all of their raw materials from their parent company in Mexico will be hit hard. Exactly how the tariffs are intended to work.

shell games that will still cause costs to go up simply because USA can't compete with foreign suppliers, manufacturers

and after any administrative cost of shell games with supply lines play out, are US tariffs permanent? or a temporary fix?

your blind BELIEF in economy-ignorant, 6-time-business-failure Trash's campaign promise-keeping to you ignorant Trash supporters is hilarious.

[boutons_deux]

"68% approval on economy"

avg real wages are FLAT, even negative, STILL, because Capital continues indefinitely at war on and still beating the shit out of Labor

[SnakeBoy]

Glib about the suffering caused by your favorite President. I'm shocked that an asshole like you would be so gleeful about it. What do you want to do for an encore, drag a crying 2 year old from her mother?

At the MidContinent Steel and Wire plant in Poplar Bluff, Missouri, where Magnum Fasteners products are made, 60 employees were laid off this month as certain operations were idled due to lost business from increased steel costs.
https://www.cbsnews.com/news/factory-workers-lose-jobs-as-steel-tariffs-put-business-in-crisis-mode/

Nice anecdote. Too lazy to research or understand the big picture as usual and immediately running to your :crymuh morals:cry defensive position like a baby. Stop being a baby

[boutons_deux]

Trump Tariffs Trash Companies in Mike Pence’s Indiana Hometown


The Washington Post has reported (https://www.washingtonpost.com/politics/dependent-on-trade-mike-pences-hometown-takes-a-hit-due-to-trumps-tariffs/2018/07/21/25fd2bda-8c2e-11e8-8aea-86e88ae760d8_story.html?noredirect=on&utm_term=.f4f98b5bbf00) that Vice President Mike Pence’s hometown of

Columbus, Indiana will be one of the hardest hit communities in the United States after President Donald Trump’s trade tariffs (https://www.politicususa.com/2018/04/22/trump-tariff-consumer.html) go into effect.

According to the Post, the reason for this is that a Brookings Institution analysis (https://www.brookings.edu/blog/the-avenue/2017/01/27/u-s-metros-most-dependent-on-trade/) found that

Pence’s hometown is the metro area most reliant on exports in the entire country.

One-half of the Columbus economy — or gross domestic product — is made up of exports to other countries.

“Mike Pence’s hometown of Columbus, Indiana, is the most export-reliant region in the country.

Now, it’s among the areas most vulnerable to job losses from Donald Trump’s international trade war.”

https://www.politicususa.com/2018/07/22/trump-tariffs-trash-companies-in-mike-pences-indiana-hometown.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+politicususa%2FfJAl+%28Politi cus+USA+%29

[Winehole23]

tarriffs are a blunt instrument. the division between steel companies and aluminum companies on tarriffs is instructive: industries with large foreign inputs get kicked right in the profits.

[TeyshaBlue]

I'm interviewing with a major steel and metals org tomorrow for an analyst gig. They are a foreign company with a significant US footprint. Should provide some interesting perspective on the current tariff brouhaha.

[boutons_deux]

Wall Street braces for tariff fallout as S&P 500 companies report

Tariffs are starting to bite big manufacturers and Wall Street could get another bout of caution and uncertainty from major industrial companies when a swath of reports comes in over the next week.

Investors are worried about the impact on earnings should the United States’ trade war with China and other major trading partners escalate.

Deutsche Bank in June estimated that an escalation of the dispute to include $200 billion of imports would hit earnings growth by 1-1.5 percent.

“If today’s political rhetoric intensifies and translates into actual protectionist policies, it will be a negative for all businesses in the U.S. and abroad, including ours,”

starting to show up in early reports by companies. Earnings from Honeywell International (HON.N), General Electric (GE.N) and Stanley Black & Decker (SWK.N) show companies facing higher costs due to already enacted tariffs, and uncertainty about tariffs on as much as $500 billion in Chinese goods threatened by Trump.

GE said it expects tariffs on its imports from China to raise its costs by up to $400 million and Alcoa (AA.N) said the tariffs led to an extra $15 million in costs.

Second-quarter corporate earnings seasons kicks into gear starting on Monday, with results on tap from companies including Corning (GLW.N), Ford Motor (F.N), 3M Co (MMM.N) and Boeing (BA.N), which has fallen nearly 2 percent since the start of March.

The United States in March said it would impose tariffs on steel and aluminum, and on July 1, Washington and Beijing applied tariffs on $34 billion worth of each other’s goods.

Trump has threatened additional tariffs, possibly targeting more than $500 billion worth of Chinese goods – roughly the total amount of U.S. imports from China last year.

Since March 1, S&P 500 industrials .SPLRCI have fallen nearly 3 percent, reflecting the sector’s dependence on international commerce.

The S&P 1500 steel index .SPCOMSTEEL has lost 1 percent since March 1, as investors worry that a slowdown in global demand could offset U.S. steelmakers’ benefits from tariffs against their foreign competitors.

“There are companies that might not be significantly impacted by tariffs from a cost perspective, but

from the uncertainty around it,”

“They could see customers holding off on spending because

they don’t know what is going to happen.”

Qualcomm, reporting on July 25, depends on China for two thirds of its revenue. The U.S. chipmaker is also facing a drawn-out wait for Chinese regulators to approve its $44 billion takeover of NXP Semiconductors (NXPI.O), a delay widely seen as connected to the trade conflict.

“The market is looking through Trump’s trade negotiations and governing style because of this strength.

However, we are more cautious on the trade overhang and think

headline risk, both to the upside and downside, will remain high,”

https://www.rawstory.com/2018/07/wall-street-braces-tariff-fallout-sp-500-companies-report/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29 (https://www.rawstory.com/2018/07/wall-street-braces-tariff-fallout-sp-500-companies-report/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29)

Still early, but certainly by year end, we'll see the damage Trash is doing to the economy and world trade

[boutons_deux]

dead meat, days or weeks old, yum, It's What's For Dinner

2.5 Billion Pounds of Meat Piles Up in U.S. as Production Grows, Exports Slow

Profits, prices are threatened as record amounts of red meat and poultry fill U.S. warehouses

Meat is piling up in U.S. cold-storage warehouses,

fueled by a surge in supplies and

trade disputes that are eroding demand.

Federal data, coming as early as Monday, are expected to show a record level of beef, pork, poultry and turkey being stockpiled in U.S.

https://www.wsj.com/articles/meat-piles-up-as-production-grows-and-exports-slow-1532268000

[RandomGuy]

Nice anecdote. Too lazy to research or understand the big picture as usual and immediately running to your :crymuh morals:cry defensive position like a baby. Stop being a baby

77,000/123,000,000

[RandomGuy]

I'm interviewing with a major steel and metals org tomorrow for an analyst gig. They are a foreign company with a significant US footprint. Should provide some interesting perspective on the current tariff brouhaha.

Coolness. Let us know how it goes.

[boutons_deux]

The Finance 202: Trump is creating his own economic reality

President Trump is operating in an economic reality of his own creation that has left him both increasingly emboldened and isolated as he escalates trade hostilities over the objections of key aides and allies.

And the president is set to take things from bad to worse this week.

Trump continues to insist all is well at home.

And he continues to believe his trade offensive provides a winning issue for his party in the midterms.

The world beyond his blinders looks very different.

The S&P 500 is up 31 percent since Trump’s election, but it has slowed considerably, gaining 4.9 percent this year,

As for growth in the quarter that ended last month, economists also expect to see a big number post this week.

Yet they chalk it up to a flurry by companies bracing for higher tariffs.

Most significantly for Trump and his party,

the metric most important to the most voters — their own paychecks — isn't offering the same good news.

Worker pay actually fell by a nearly a full percentage point in the second quarter,

“The drop was broad, with 80 percent of industries and two-thirds of metro areas affected.”

Trump is whistling past these warning signals, leaving his aides scrambling to rein him in and clean up his latest pronouncements.

The president continues to favor imposing tariffs of up to 25 percent on autos and parts — a position opposed even by hawkish U.S. Trade Representative Robert E. Lighthizer, Politico’s Ben White reports (https://www.politico.com/story/2018/07/22/trump-foreign-car-tariffs-juncker-735555):

“The auto industry, Republicans in Congress, U.S. trading partners and even some of Trump’s top advisers argue that the tariffs could be major political and economic negatives.

As one White House official tells them,

“It’s not like you are going to change his mind.

So we just have to message it the right way.” :lol

allies who otherwise agree that China has engaged in abusive behavior nevertheless fear the president is stumbling forward without a plan. “We’re playing Russian roulette with the American economy,”

“The administration has a tool that they think provides leverage over other countries.

But I don’t think it has a good strategy for getting a deal done.”

(https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2018/07/23/the-finance-202-trump-is-creating-his-own-economic-reality/5b54879f1b326b1e646954be/?utm_term=.12ba3ea3c765)https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2018/07/23/the-finance-202-trump-is-creating-his-own-economic-reality/5b54879f1b326b1e646954be/?utm_term=.12ba3ea3c765

[TeyshaBlue]

Coolness. Let us know how it goes.

They did NOT want to talk tarrifs. One of them started to mention it and the VP shut him the hell down.:wow
I guess I'll have to wait and see if I picked up the gig before I'm able to gather any perspective. But they were certainly touchy.

[boutons_deux]

U.S. sets hearing dates for proposed new tariffs on Chinese goods


https://www.reuters.com/article/us-usa-trade-china-ustr/u-s-sets-hearing-dates-for-proposed-new-tariffs-on-chinese-goods-idUSKBN1KD1VF

[RandomGuy]

They did NOT want to talk tarrifs. One of them started to mention it and the VP shut him the hell down.:wow
I guess I'll have to wait and see if I picked up the gig before I'm able to gather any perspective. But they were certainly touchy.

That is what I thought would happen. They are terrified of offending anyone one way or another. Ultimately they benefit, but at the expense of their customers' bottom line.

ALL steel prices pretty much surged, so the American steel makers are making money hand over first at this point, because they were already mostly profitable, but being able to instantly sell your product at another 25% profit margin, is PURE profit.

[boutons_deux]

:lol :lol :lol :lol

White House readies plan for $12 billion in emergency aid to farmers caught in Trump’s escalating trade war

the latest sign that growing tensions between the United States and other countries will not end soon.

Trump ordered Agriculture Secretary Sonny Perdue to prepare a range of options several months ago,

amid complaints from farmers that their products faced retaliatory tariffs from China and other countries.

The new package of government assistance funds will be announced Tuesday and is expected to go into effect by Labor Day.

The aid package is expected to target

soybean farmers, dairy farmers, and pork producers, among others.

White House officials hope it will quiet some of the unease from farm groups,

but the new plan could

revive debates about taxpayer-funded bailouts

and

the degree to which Trump’s trade strategy is leading to unforeseen costs.

Farm groups have complained

that moves by China (https://www.washingtonpost.com/news/wonk/wp/2018/05/20/china-is-winning-trumps-trade-war/?utm_term=.a6a3dc936c9a)and other countries in response to Trump’s protectionist trade stance

could cost them billions of dollars,

spooking Republicans who fear a political and economic blowback to Trump’s approach.

https://www.washingtonpost.com/business/economy/white-house-readies-plan-for-12-billion-in-emergency-aid-to-farmers-caught-in-trumps-escalating-trade-war/2018/07/24/7bec9af4-8f4d-11e8-b769-e3fff17f0689_story.html?noredirect=on&utm_term=.1bc461daf103&wpisrc=nl_most&wpmm=1


:lol :lol :lol :lol

Trash fucks up and wastes Other People's Money to try to unfuck his fuckup.

6 bankruptcy fuckup, and US banks said Fuck You

I'm sure BigAg and BigChem will be scamming $100Ms of taxpayers' bailout

[KenMcCoy]

Gov't assistance bad now?

[RandomGuy]

Gov't assistance bad now?

http://www.spurstalk.com/forums/showthread.php?t=272551&page=27

[KenMcCoy]

How is adding 3% to total 2018 welfare spending lost $Bs?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)

What will the net utility loss to overall US consumers be?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)

Current year economic growth is pegged at 4%. How many of those jobs would have occurred regardless of tariffs due to organic growth in domestic demand?

[RandomGuy]

Also in article:

Flannery said such drawbacks “could mitigate half or more” of the tariff costs. Adjusting GE’s supplier network to avoid tariffs could happen “over time,” he added.
“We don’t see a major impact yet financially, certainly not on our 2018 guidance,” Flannery said on a conference call with analysts after GE released second-quarter results.

Translation: if we don't make any changes to our supply chain the tariffs will cost us a little money, but our supply chain folks are working with US vendors to avoid the tariffs and save the company $$.

Companies with good procurement/supply chain teams will solve the tariff issues easily. Companies like Mid-Continent Nail who are stuck buying all of their raw materials from their parent company in Mexico will be hit hard. Exactly how the tariffs are intended to work.

Steel consumers in the US will not be able to avoid increased costs. Domestic manufacturers raised prices.

How many construction projects will be affected by increased rebar costs?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)


For manufacturers of heavy equipment such as Caterpillar Inc. and Deere & Co., JP Morgan analysts predict that the tariffs could dent their fiscal 2019 earnings by 6 percent and 9 percent respectively. Steel is the largest raw materials cost for both companies.

The National Association of Home Builders has spoken out against the tariffs as it’s still recovering from the Canadian lumber tariffs of 2017. It claims that higher steel costs would raise construction costs, which could eventually be passed on to homebuyers.
https://www.thehortongroup.com/resources/the-effect-of-trumps-tariffs-on-construction

Why should those steel jobs be more important than jobs at Caterpillar?

[RandomGuy]

Ohio + 50 jobs (http://www.crainscleveland.com/article/20180719/news/168931/republic-steel-hire-50-workers-canton-facility)
Ohio & Texas + 1000 jobs (https://www.cnbc.com/2018/06/21/steel-company-jsw-usa-to-add-1000-new-jobs-ceo.html)
Arkansas + 500 (http://www.nwaonline.com/news/2018/jun/30/steel-mill-to-expand-add-500-new-worker/)

As soon as base production ramps up you'll see more reshoring of the secondary manufacturing industries...

Arkansas + 250 (https://talkbusiness.net/2018/07/caterpillar-to-add-250-plus-jobs-at-north-little-rock-plant/)


WASHINGTON, D.C. — With virtually all construction costs tied to either materials or labor, President Donald Trump’s tariffs on two key building supplies could further exacerbate the construction industry’s longtime worker shortage, according to industry experts.

But there’s more at stake than short-term increases in materials costs. By forcing construction firms to allocate more operating income toward materials, the tariffs are likely to prevent firms from offering higher wages to attract more labor.

https://rebusinessonline.com/how-will-steel-aluminum-tariffs-impact-construction-labor/

Seems like anyone who builds things for a living is going to take a hit to their bottom line.

Homeowners, cities, states, etc.

Also from the above article:


Immediate labor impact
A recent study from Trade Partnership Worldwide LLC, a Washington, D.C.-based economic consulting firm, estimates that the tariffs will generate an overall net loss of 146,000 jobs. The report also notes that across all impacted sectors
there will be five jobs lost for every new job gained.

[KenMcCoy]

Steel consumers in the US will not be able to avoid increased costs. Domestic manufacturers raised prices.

How many construction projects will be affected by increased rebar costs?

Not many in the near term:

Current indicators suggest that the present level of construction across the US will continue strong (https://www.enr.com/articles/44200-steel-aluminum-tariffs-will-hit-prices-hard-through-year-end) through the remainder of 2018 and into 2019. Many of our contacts in the industry have reported that they expect this volume of construction to level off and slowdown beginning late 2019 to early 2020. Once this happens, demand should reduce, effectively alleviating price pressure points for steel as well as other materials.

https://archinect.com/news/article/150058852/the-steel-tariff-and-construction-cost-putting-it-into-context

[Winehole23]

emergency welfare for farmers is a nakedly political move, and you say 3% as if that were a small amount. it's not.

if DJT had to support every sector that's negatively affected by tariffs, the cost would quickly get out of hand.

[boutons_deux]

How is adding 3% to total 2018 welfare spending lost $Bs?

the loss is gratuitously CREATED by Trash and economic kakistocracy, destroying business by Trash's policies.

[KenMcCoy]

https://www.thehortongroup.com/resources/the-effect-of-trumps-tariffs-on-construction

Why should those steel jobs be more important than jobs at Caterpillar?

Caterpillar adding heads -

Arkansas + 250 Jobs and $40M investiment (http://www.nwaonline.com/news/2018/jul/06/caterpillar-to-add-250-nlr-workers-2018/?business-arkansas)

[KenMcCoy]

emergency welfare for farmers is a nakedly political move, and you say 3% as if that were a small amount. it's not.

if DJT had to support every sector that's negatively affected by tariffs, the cost would quickly get out of hand.

So you're against government assistance?

[boutons_deux]

Trash bailing out farmers, etc in the shit hole HE created, I bet most of these cases aren't farmers, but BigAg, BigChem, BigMeat corps

... while Trash/Repugs intend to cut many $100Bs, even $Ts, from Medicare, Medicaid, Social Security, SNAP, school lunches, Pell, etc

[KenMcCoy]

Trash bailing out farmers, etc in the shit hole HE created, I bet most of these cases aren't farmers, but BigAg, BigChem, BigMeat corps

... while Trash/Repugs intend to cut many $100Bs, even $Ts, from Medicare, Medicaid, Social Security, SNAP, school lunches, Pell, etc

So it will all even out?

[boutons_deux]

So it will all even out?

:lol

[RandomGuy]

How many construction projects will be affected by increased rebar costs?


[information on overall outlook for construction]

Sort of what I asked. Props for the effort, thanks.

[RandomGuy]

The plural of anecdotes is not data.

Better:

If the Trade War Starts to Damage the Economy, Here’s How You’ll Be Able to Tell


Business Confidence and Capital Spending: Look to Surveys
The Stock Market: Exporters vs. the Rest
Prices and Inflation: What Futures Tell Us
Jobs: Look to the Claims

[sickdsm]

South America soybeans are harvested in the spring. North American beans in the fall. China buys seasonly. South America will be out of beans by fall. Trump banking on that the farmer will now store the beans at home. There is a loan program where they loan you $5? A bushel for Soybeans stored in bins. Due in 9 months or when you haul it in. Coupled with the announcement today, I think he just kept a pile of soybeans off the market. Soybeans are vital to China's economy. They need protein and there are few providers of it in that time frame besides North America.

[Winehole23]

So you're against government assistance?I'm not doctrinaire, but short-term emergency welfare for political constituencies harmed by reckless trade policies with long-term consequences seems more self-serving than altruistic or wise.

[Winehole23]

Using public money as a heat sink for bad policy seems unwise to me -- how does it strike you, Ken McCoy?

[Winehole23]

GOP bigwigs don't like it:


“This is becoming more and more like a Soviet type of economy here: Commissars deciding who’s going to be granted waivers, commissars in the administration figuring out how they’re going to sprinkle around benefits,” said Sen. Ron Johnson (R-Wis.). “I’m very exasperated. This is serious.”

“Taxpayers are going to be asked to initial checks to farmers in lieu of having a trade policy that actually opens and expands more markets. There isn’t anything about this that anybody should like,” said Sen. John Thune of South Dakota, the No. 3 GOP leader. He suggested the new spending might need to be offset by cuts in other funding areas.https://www.politico.com/story/2018/07/24/trump-farmers-bailout-reaction-republicans-congress-737517

[Winehole23]

Sen. Ben Sasse (R-Neb.) said Trump is giving farmers “golden crutches,” while Sen. Pat Toomey (R-Pa.) said “this bailout compounds bad policy with more bad policy.”


“This is what we feared all along, that these markets would be replaced by handouts,” Flake said. “You lose some of these markets, you lose them for good or a long time.”

“You put people in the poorhouse and provide them aid. What you need to do is not put them in the poorhouse,” Corker said. "They put in place a policy that requires farmers to go on welfare.

[boutons_deux]

GOP bigwigs don't like it:

[/FONT][/COLOR]https://www.politico.com/story/2018/07/24/trump-farmers-bailout-reaction-republicans-congress-737517[/FONT][/COLOR]

come election time, Trash's mafiya can shake down the beneficiaries of his handouts, subsidies, and tariff waivers.

aka, Trash's "transaction model",

I use my power/money (now as illegit corrupt so-called Pres of USA) to help you and then I own you / you owe me.

[RandomGuy]

South America soybeans are harvested in the spring. North American beans in the fall. China buys seasonly. South America will be out of beans by fall. Trump banking on that the farmer will now store the beans at home. There is a loan program where they loan you $5? A bushel for Soybeans stored in bins. Due in 9 months or when you haul it in. Coupled with the announcement today, I think he just kept a pile of soybeans off the market. Soybeans are vital to China's economy. They need protein and there are few providers of it in that time frame besides North America.

From 2016:
E.U. soybean production on the upswing
http://www.world-grain.com/articles/news_home/World_Grain_News/2016/08/EU_soybean_production_on_the_u.aspx

Dunno. This stuff is fungible, and there is a global market, with one dominant buyer. The Chinese will not cave on this, by my reading. They don't have to.

[Winehole23]

1022118231463604226

[Bill_Brasky]

1022118231463604226

And i'm sure by "farmers" they actually mean "multinational food conglomerates".

[Winehole23]

And i'm sure by "farmers" they actually mean "multinational food conglomerates".until the aid passes or doesn't pass, it's hard to know anything about eligibility, but that's possible.


Most of the U.S. domestic production of food and fiber comes from relatively few large operations. Large and very large family farms produce over 63 percent of the value of all products sold, while non-family farms produce approximately 21 percent, and the nearly 2 million small farms and ranches (sales under $250,000) produce approximately 15 percent.https://nifa.usda.gov/family-farms

[boutons_deux]

Trump pushes 25 percent auto tariff as top advisers scramble to stop him

Several of President Trump’s senior economic advisers believe he plans to push forward with 25 percent tariffs on close to $200 billion in foreign-made automobiles later this year, three people briefed on internal discussions said.

Trump wants to move forward despite numerous warnings from GOP leaders and business executives who have argued that such a move could damage the economy (https://www.washingtonpost.com/news/wonk/wp/2018/07/06/the-trump-tariff-tracker-how-severe-is-the-pain/?utm_term=.02c4d5b5451f) and lead to political mutiny.

But Trump has become increasingly defiant in his trade strategy, following his own instincts and intuition and eschewing advice from his inner circle.

He has told advisers and Republicans to simply trust his business acumen, :lol

a point he tried to reinforce Wednesday morning in a Twitter post.

“Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?” Trump said Wednesday (https://twitter.com/realDonaldTrump/status/1022074252999225344).

“Are we just going to continue and let our farmers and country get ripped off?”

Trump has said imposing tariffs on foreign cars could push Americans to buy more U.S. automobiles, helping U.S. workers.

But critics think tariffs would drive up the cost of all cars and pass those inflated prices on to consumers.

The United States imported a record $192 billion in new passenger vehicles in 2017.

The E.U. charges a 10 percent tariff on imports of U.S. automobiles,

and the United States has a 2.5 percent tariff on European cars.

The United States also charges a 25 percent tariff on light truck and sport-utility vehicle imports from other countries.

Complicating matters further,

a number of top European automobile companies,

such as BMW and Mercedes, already make many automobiles in the United States, as do Japanese companies such as Honda, Nissan, Toyota and Subaru.

https://www.washingtonpost.com/business/economy/trump-pushes-25-percent-auto-tariff-as-top-advisers-scramble-to-stop-him/2018/07/25/f7b9af04-8f8a-11e8-8322-b5482bf5e0f5_story.html?utm_term=.8d4aa238c15f&wpisrc=nl_most&wpmm=1

[Chris]

1021909900941815809

[apalisoc_9]

Business acumen :lol

Inheritance money is business acumen now :lol

[Education4Libs]

1021909900941815809
It gets me so horny inspired when you own the libs with Trump tweets.

[boutons_deux]

A Message From a C.E.O.: Tariffs Are Going to Hurt American Workers

By Tom Linebarger
Mr. Linebarger is the chief executive of Cummins. ( diesel )

Cummins employs about 1,000 people in Seymour, and we have invested more than $300 million into the plant in the past seven years, including a technical center that employs hundreds of engineers.

In the past year, we have added nearly 50 employees.

While other small towns are struggling, Seymour is thriving.

However, increased supply-chain costs because of the recent tariffs (https://www.nytimes.com/interactive/2018/07/11/business/trade-war.html) will raise the price of the products from Seymour.

We may also face retaliatory tariffs, which could result in lost sales and restrict or reverse our growth.

International trade has been the single most important contributor to growth and hiring at Cummins for nearly two decades.

Half of our business is outside the United States, and more than 20 percent of the 25,000 Cummins jobs in America are directly tied to international business.

And when we are growing, it often means our suppliers are also growing.

Let’s be clear: a tariff is a tax, plain and simple.

For Cummins, the impact of tariffs on steel and aluminum,

tariffs applied to products we bring to the United States,

as well as retaliatory tariffs imposed on products we export to other countries

will be difficult to mitigate even with the benefits of tax reform.

And this does not take into account the latest and additional proposed tariffs (https://www.nytimes.com/interactive/2018/07/11/business/trade-war.html), nor does it include the indirect costs that, inevitably, will be passed through to us and other companies like us by suppliers.

One model of engine, for example, was developed in the United States but is manufactured in China for the Chinese market.

A small number of those engines — approximately 5,000 — are exported from our plant in China to the United States, so they are considered subject to tariffs under the administration’s recent actions.

So this product — developed by American engineers and sold by an American company — faces a 25 percent tariff here at home

and must compete against products from European and other Asian engine manufacturers that are not subject to the tariffs.

This will make it very difficult for Cummins to compete, putting our ability to sell these engines in the United States in peril.

These tariffs put us in a worse position now than when we started these negotiations, and

we are concerned there is no end in sight.

Because of this uncertainty, companies like ours are standing still, unclear on how and where to invest.

We see no upside in the implementation of tariffs.

They are a tax, and the risky proposition of entering a trade war could slow down the economy.

American workers and their families will be the real casualties of a trade war.

https://www.nytimes.com/2018/07/25/opinion/trump-tariffs-hurt-manufacturing-jobs.html?partner=rss&emc=rss

Relax, man, Mnuchin says your precarious situation and uncertain future are "just a hiccup"

[SnakeBoy]

EU just blinked you can relax now.

[CosmicCowboy]

EU just blinked you can relax now.

Lol

Now they will say zero tariffs and free trade are bad.

[RandomGuy]

Lol

Now they will say zero tariffs and free trade are bad.

"our closest allies agreed to work towards better trade policies"

Holy shit, that must have taken a very stable genius to pull off. :lol Color me impressed.







Did I say "impressed"? I mean NOT impressed. ;)

[RandomGuy]

EU just blinked you can relax now.

It seriously takes some gullibility to buy the propaganda around this on your part.

Pick a fight with close friends/enemies, then walk it back a little with a meeting and declare victory, so the muppets can clap on cue.

Keep clapping, Fozzie.

[SnakeBoy]

Poor RandomGuy, you aren't going to get the economic ruin and nuclear armageddon you've been hoping for

Too much winning for you to handle, you must be sick of it :lol

MAGA

[Pavlov]

Did they actually agree to anything or did they agree to agree to something later like North Korea?

[Chris]

1022222553430077442

Trump

[Chris]

1022217968766222336

[Chris]

1022204881095077889

[SnakeBoy]

Day started off with a smoking gun tape that immediately became a nothingburger

Ended with another W from Big Dog

Must be hard :lol

[Chris]

Big Dog

[hater]

Day started off with a smoking gun tape that immediately became a nothingburger

Ended with another W from Big Dog

Must be hard :lol

:lmao wait till they find out the 12 billion for our food corporations is coming from the Food Stamps Fund :lmao

You cant vote if you cant eat :lmao

[boutons_deux]

https://news.sky.com/story/donald-trump-deal-with-eu-boss-jean-claude-juncker-averts-trade-war-11448891

all very vague.

US-EU tariffs are to be reduced, zeroed?

when? how?

cars? metals? what else?

so just a lot of vague words

[ducks]

President Donald Trump reached an agreement Wednesday with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war, easing tensions stoked by Trump’s threat to impose tariffs on car imports.
The two sides agreed to expand European imports of U.S. liquified natural gas and soybeans and lower industrial tariffs on both sides, Trump said. The U.S. and European Union will “hold off on other tariffs” while negotiations proceed, Juncker said.

“We had a big day, very big,” Trump said at a joint statement with Juncker at the White House Wednesday. He hailed “a new phase” of trade relations.
The two leaders also said they would work toward “zero” tariffs on industrial goods, according to Trump. He added that they would try to “resolve” steel and aluminum tariffs he imposed earlier this year and retaliatory duties the EU levied in response.

[ducks]

https://news.sky.com/story/donald-trump-deal-with-eu-boss-jean-claude-juncker-averts-trade-war-11448891

all very vague.

US-EU tariffs are to be reduced, zeroed?

when? how?

cars? metals? what else?

so just a lot of vague wordsquick ask don lemon boutons

[hater]

China is digging in tbqh

Their first comeback punch put our farmers on their knees :lol

Im sure they have lots of options on their table.

Not to mention once they resort to currency devaluation next year given our economy will be soft next year the Shillarytards so called armaggedon could actually happen

This shit is far from over and I dont see it being an “easy” win

We will have many casualties

[Th'Pusher]

EU just blinked you can relax now.

Lol. To trump fanboys like snakeboy blinking is the EU returning to the same negotiating position they had with Obama. Big dog :lol

[Th'Pusher]

Day started off with a smoking gun tape that immediately became a nothingburger

Ended with another W from Big Dog

Must be hard :lol
Were you celebrating the t-tip when the Obama admin was negotiating it? Because what was announced today is basically saying the Trump admin is going to pick up right where Barry left off.

[RandomGuy]

Day started off with a smoking gun tape that immediately became a nothingburger

Ended with another W from Big Dog

Must be hard :lol

:lol what is the sound of one muppet clapping. So desperate for a win, to talk about anything other than Kompromat, collusion, stolen children, and lost jobs. You guys crack me up.

[sickdsm]

From 2016:
E.U. soybean production on the upswing
http://www.world-grain.com/articles/news_home/World_Grain_News/2016/08/EU_soybean_production_on_the_u.aspx

Dunno. This stuff is fungible, and there is a global market, with one dominant buyer. The Chinese will not cave on this, by my reading. They don't have to.

Read one article, that I'm curious the search criteria you used to find it, is now well versed in global soybean demand. Hard rule of thumb has usually been, sell Soybeans, store corn. A sold bean is a good bean. There's lots of sayings but basically your playing with fire holding onto beans when South America hits harvest time. This whole tariff thing has been going on when North American beans seasonly don't matter.


But hey, you found an article man. Kudos.

[Winehole23]

EU just blinked you can relax now.that's an over egged gloss.

while a suspension of escalation and a promise to talk more is no doubt for the good, EU tariffs on steel, aluminum remain, and tariiffs on autos are notably excluded.

Win for Juncker without having to concede anything but future talks.

[RandomGuy]

[vacuous troll attempt #234]

yawn.

I would be more shocked at this point if you had anything intelligent to say. As much as you look down your nose at boots, you are at the same level, but lazier. He is, for all his faults, pretty industrious.

[Winehole23]

your take on the Trump-Juncker summit, RG?

[RandomGuy]

Read one article, that I'm curious the search criteria you used to find it, is now well versed in global soybean demand. Hard rule of thumb has usually been, sell Soybeans, store corn. A sold bean is a good bean. There's lots of sayings but basically your playing with fire holding onto beans when South America hits harvest time. This whole tariff thing has been going on when North American beans seasonly don't matter.


But hey, you found an article man. Kudos.

I understand economics and trade, but not the specifics of any given market, and won't pretend to have any kind of particular expertise on any given commodity, other than energy, which I am pretty familiar with.

You would seem to be very well versed in this, so I would generally defer to your level of knowledge when it comes to grain trading.

So, assuming:
Chinese continue to limit US purchases, if not outright stop buying
EU promises probably won't make up differences (you tell me if this is a reasonable assumption, seems so, given market size and population)
and continued lower overall demand for US soy,

what happens?

[RandomGuy]

your take on the Trump-Juncker summit, RG?

About the same as yours. A vague promise of continued talks, that will likely yield SOMETHING positive over the long run.

My guess though, is that something will not happen in time to forestall further escalation. Trump's actions/words have infuriated just about every government/population in Europe, to make them less than willing to make deals. This implies more escalation with neither side willing to back down.

https://i.guim.co.uk/img/media/ea7487529315896e8471217aa135957e0cf4ccf4/0_54_4494_2696/master/4494.jpg

I anticipate boycotts of US products, akin to what is happening in Canada. This will lead to lower overall demand for US goods in general. This is based on past surveys that have noted a link between perception of the US and aggregate demand for US goods.

The EU may promise to import more soy, but the farming lobby in most EU countries is pretty strong, and they stand to directly benefit from increased sales to China. I consider any promise to import more to be a rather weak one. This makes the odds that any purchase will be a token, to placate Trump, so he has something to talk about with his base, who will almost undoubtedly over-hype any achievement.

Surveys of Chinese and EU consumers indicate that even beyond any tariffs imposed, they will begin to boycott US goods, with any imbalance in demand/supply being likely made up by increasing Chinese/EU trade.

This imbalance will not help US trade deficits. We will "win" reductions in tariffs, but lose overall, as the world shifts demand to non-US goods/services, and this shift will likely be more "sticky", i.e. permanent.

Overall the guardian had an analysis that jibes with everything else I have been reading.
https://www.theguardian.com/business/2018/jul/26/jean-claude-juncker-donald-trump-trade-deal-washington-talks-analysis

I think that people inclined to support Republicans are almost certainly underestimating the amount of animus being generated, and that will have some RL consequences. The US will tilt into a recession at some point, and the actions being taken now will likely make that worse.

[sickdsm]

I understand economics and trade, but not the specifics of any given market, and won't pretend to have any kind of particular expertise on any given commodity, other than energy, which I am pretty familiar with.

You would seem to be very well versed in this, so I would generally defer to your level of knowledge when it comes to grain trading.

So, assuming:
Chinese continue to limit US purchases, if not outright stop buying
EU promises probably won't make up differences (you tell me if this is a reasonable assumption, seems so, given market size and population)
and continued lower overall demand for US soy,

what happens?
China still buys American Soybeans. Third party buyer. It's a shell game. China NEEDS protein. Either from ethanol DDG'S or Soybeans. One of the reason China is pushing hard for ethanol (e-10 mandate coming on next year?) Is the DDGS.

China had a huge tariff on DDG that essentially shut imports down that got lifted last fall/this spring.


Keeping Soybeans off the global market for a few months would be a death sentence to China's trade negotiations IMO.


There isn't going to be lower overall demand for US Soybeans. It's who is the middle man that's going to change. Soybean exports have not been bad at all, and they will continue to do well.

[sickdsm]

About the same as yours. A vague promise of continued talks, that will likely yield SOMETHING positive over the long run.

My guess though, is that something will not happen in time to forestall further escalation. Trump's actions/words have infuriated just about every government/population in Europe, to make them less than willing to make deals. This implies more escalation with neither side willing to back down.

https://i.guim.co.uk/img/media/ea7487529315896e8471217aa135957e0cf4ccf4/0_54_4494_2696/master/4494.jpg

I anticipate boycotts of US products, akin to what is happening in Canada. This will lead to lower overall demand for US goods in general. This is based on past surveys that have noted a link between perception of the US and aggregate demand for US goods.

The EU may promise to import more soy, but the farming lobby in most EU countries is pretty strong, and they stand to directly benefit from increased sales to China. I consider any promise to import more to be a rather weak one. This makes the odds that any purchase will be a token, to placate Trump, so he has something to talk about with his base, who will almost undoubtedly over-hype any achievement.

Surveys of Chinese and EU consumers indicate that even beyond any tariffs imposed, they will begin to boycott US goods, with any imbalance in demand/supply being likely made up by increasing Chinese/EU trade.

This imbalance will not help US trade deficits. We will "win" reductions in tariffs, but lose overall, as the world shifts demand to non-US goods/services, and this shift will likely be more "sticky", i.e. permanent.

Overall the guardian had an analysis that jibes with everything else I have been reading.
https://www.theguardian.com/business/2018/jul/26/jean-claude-juncker-donald-trump-trade-deal-washington-talks-analysis

I think that people inclined to support Republicans are almost certainly underestimating the amount of animus being generated, and that will have some RL consequences. The US will tilt into a recession at some point, and the actions being taken now will likely make that worse.

Agricultural products aren't like the shit that we import from China. There is always a finite amount every year. It's the reason that every country trys to have a strong govt farm program. You can't just fire up the boilers and run the factory 24/7. US soybeans are not going to be unsold or go bad, although that seems to be the sentiment.


Let's pretend your scenario plays out. World leaders black list Trump until he's out of office. New president would LIKELY have the rest of the world eager to make deals. Good cop/bad cop scenario, right?


Same end result.

[Chris]

1023555495129427970

[dabom]

1023555495129427970

This getting good. :lol

:popcorn

[boutons_deux]

Lou Dobbs is as far gone mentally as Trash

Kock Bros spending $100Ms to defend / elect Congress people who will do nothing, say nothing about Trash whom the Kock Bros supposedly disagree with.

[RandomGuy]

China still buys American Soybeans. Third party buyer. It's a shell game. China NEEDS protein. Either from ethanol DDG'S or Soybeans. One of the reason China is pushing hard for ethanol (e-10 mandate coming on next year?) Is the DDGS.

China had a huge tariff on DDG that essentially shut imports down that got lifted last fall/this spring.


Keeping Soybeans off the global market for a few months would be a death sentence to China's trade negotiations IMO.


There isn't going to be lower overall demand for US Soybeans. It's who is the middle man that's going to change. Soybean exports have not been bad at all, and they will continue to do well.

That is what I would expect, i.e. some playing of shell games.

Shifting like that imposes costs. Costs implies a shift in supply curve, and it will lower overall aggregate demand for US beans. Economics 101.

This is an economic certainty.

One might quibble over how much, but for it to be otherwise would defy the laws of supply and demand. I would point out that it would still be possible for overall aggregate demand to increase prices for US farmers, AND for this to be taking place.
.


.

[RandomGuy]

Agricultural products aren't like the shit that we import from China. There is always a finite amount every year. It's the reason that every country trys to have a strong govt farm program. You can't just fire up the boilers and run the factory 24/7. US soybeans are not going to be unsold or go bad, although that seems to be the sentiment.


Let's pretend your scenario plays out. World leaders black list Trump until he's out of office. New president would LIKELY have the rest of the world eager to make deals. Good cop/bad cop scenario, right?


Same end result.

I am not saying world leaders black list Trump.

I am saying Trump creates a lot of anti-US sentiment.

Simple branding. Marketing 101. "Made in USA" becomes marketing poison pill.

For someone who says he is a businessman, you seem to want spend a lot of time claiming that business fundamentals that everybody understand somehow work differently when Trump is involved.
.

[boutons_deux]

Coke raising prices due to aluminum tariff

[ducks]

Coke raising prices due to aluminum tariff
money hunger ceos


oh wait that is what boutons says all time
companies are not suppose to make big profits

[ducks]

companies raise gas prices when oil goes up asp but when it goes done takes weeks

[Blake]

money hunger ceos


oh wait that is what boutons says all time
companies are not suppose to make big profits

You really didn't know the consumer was gonna be the one paying for these tariffs?

Hey, guess who's gonna pay for the Mexico wall? Hint: not Mexico

[ducks]

all you have to do is use what is seized from drugs and things to pay for the wall
hell the king drug lord in mexico has enough to pay for the wall himself

hell you could go solar for wall and then cal might not have to turn off power in summer

[Blake]

all you have to do is use what is seized from drugs and things to pay for the wall
hell the king drug lord in mexico has enough to pay for the wall himself

hell you could go solar for wall and then cal might not have to turn off power in summer

:lol :lol :lol

[ducks]

hell mexico could use the electric it produced and might not be a third world country
and maybe people would want to leave their instead of the usa because the usa has such bad laws!(libtards say)

[boutons_deux]

"One of his most popular nicknames on Weibo — China’s version of Twitter — is

Chuangpo, which means

to charge in and break things."

http://www.latimes.com/world/la-fg-china-trump-20180731-story.html#nws=mcnewsletter

:lol

yep, Trash breaks things, things that belong to everybody else, including his cults' things.

[sickdsm]

That is what I would expect, i.e. some playing of shell games.

Shifting like that imposes costs. Costs implies a shift in supply curve, and it will lower overall aggregate demand for US beans. Economics 101.

This is an economic certainty.

One might quibble over how much, but for it to be otherwise would defy the laws of supply and demand. I would point out that it would still be possible for overall aggregate demand to increase prices for US farmers, AND for this to be taking place.
.


.
I don't think anyone that proclaims themselves a democratic socialist and is a fan of Ocasio-Cortez has any room to talk any Economics 101.

[Winehole23]

given that economics itself is more or less a pseudo-science, I'm not sure why disqualification from membership would be any disgrace.

[boutons_deux]

I don't think anyone that proclaims themselves a democratic socialist and is a fan of Ocasio-Cortez has any room to talk any Economics 101.

why not?

America has enough wealth to be a democratic socialist society, but inquality, created/protected/increased by design by the oligarchy prevents America being democratic socialist society.

But Capital has fucked up and fucked over America, and keeps fucking it up more. See the Treasury trying to pass another tax cut for the wealthy, $100B, without involving Congress.

$700B every year on MIC and over $1T maintaining American empire.

America is very sick, perverted (for profit) society. And there's no correction possible.

[boutons_deux]

China vows retaliation if Trump slaps 25 percent tariff on $200 billion of Chinese imports

Erin Ennis, senior vice president of the U.S.-China Business Council, said a 10 percent tariff on these products is already problematic, but more than doubling that to 25 percent would be much worse.

“Given the scope of the products covered,

about half of all imports from China are facing tariffs, including consumer goods,” Ennis said.

“The cost increases will be passed on to customers, so it will affect most Americans’ pocketbooks.”

Trump had said he would implement the $200 billion round as punishment for China’s retaliation against the initial tariffs aimed at forcing change in China’s joint venture, technology transfer and other trade-related policies.

https://www.reuters.com/article/us-usa-trade-china/trump-to-propose-25-percent-tariff-on-200-billion-of-chinese-imports-source-idUSKBN1KM3B3

Is everybody getting so sick yet from winning trade wars, that are so easy to win?

[RandomGuy]

I don't think anyone that proclaims themselves a democratic socialist and is a fan of Ocasio-Cortez has any room to talk any Economics 101.

I know more about macro-economics that you do, based on your posting here.

This is, by the way an ad hominem logical fallacy, i.e. a failure of reasoning. I guess I can lecture you about critical thinking as well, it seems.

[RandomGuy]

Sorry. Tariffs are just dumn as shit.

Expect the White House to walk it back within 48 hours.

:lmao

fanboi fails so hard.

[RandomGuy]

given that economics itself is more or less a pseudo-science, I'm not sure why disqualification from membership would be any disgrace.

If you laid all economists end to end, they still would not reach a conclusion. :D

[Chris]

59% of economists approve of Trump handling of the economy. Most agree the tariffs are effective and that the United States will win the trade war.

[CosmicCowboy]

From an industrial products consumer (steel, copper, brass, etc.) With valves, pipe etc. Every one I deal with has used tariffs and higher wages as a reason to push through price increases. Most this year have averaged 7-10%.

[CosmicCowboy]

Unrelated to tariffs I am seeing serious wage acceleration in skilled trades. You guys will need to get used to $100+ an hour for a average skilled plumber or AC guy to come to your house.

[DMX7]

From an industrial products consumer (steel, copper, brass, etc.) With valves, pipe etc. Every one I deal with has used tariffs and higher wages as a reason to push through price increases. Most this year have averaged 7-10%.

Are there new tariffs on imported copper and brass?

[CosmicCowboy]

Are there new tariffs on imported copper and brass?

Not that I know of. Whats your point?

[KenMcCoy]

Unrelated to tariffs I am seeing serious wage acceleration in skilled trades. You guys will need to get used to $100+ an hour for a average skilled plumber or AC guy to come to your house.

That's great news. Hopefully they start bringing vocational courses back into highschool and stop pushing "college for everyone" as the standard post highschool directive.

[RandomGuy]

Unrelated to tariffs I am seeing serious wage acceleration in skilled trades. You guys will need to get used to $100+ an hour for a average skilled plumber or AC guy to come to your house.

Another trend that will accelerate. Long time coming.

Much like the demographic implosion of the Trump party. Every year, drip drip drip.

[Winehole23]

are we still getting ripped off, or is this a side effect of economic health?


The US trade deficit increased (https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf) in June, to $US46.3 billion from $US43.2 billion in May, according to the US Census Bureau. Additionally, the trade deficit for 2018 continues to outpace the shortfall in 2017.


“Year-to-date, the goods and services deficit increased $US19.6 billion, or 7.2%, from the same period in 2017,” the Census Bureau said in a press release.


Many economists say that Trump’s focus on trade deficits is misguided (https://www.nytimes.com/2018/03/05/us/politics/trade-deficit-tariffs-economists-trump.html) and that large trade deficits simply show increased domestic demand. (https://www.businessinsider.com/trump-trade-jobs-wealth-dont-correlate-with-trade-balance-2018-6) In fact, some argue that a larger trade deficit actually displays signs of a stronger US economy.
https://www.businessinsider.com.au/trump-trade-war-deficit-losing-2018-8

[TSA]

China Dethroned by Japan as World's Second Biggest Stock Market
https://www.msn.com/en-us/money/markets/china-dethroned-by-japan-as-worlds-second-biggest-stock-market/ar-BBLqCBp?li=BBnbfcN&item=personalization_enabled:false&OCID=ansmsnnews11

[Winehole23]

sorry, that relates how?

[boutons_deux]

The early victims of Trump's trade war

Cars and motorbikes

Food and drink

Other victims

Toymaker Hasbro is moving more production out of China, US conglomerate Honeywell wants to use more supply chain sources from countries outside China and home furnishing company RH expects to cut the amount of goods sourced from China

US equipment maker Caterpillar recently said strong demand had allowed it to hike prices to offset $100m-$200m in higher steel and aluminium costs.

The International Monetary Fund says an escalation of the tit-for-tat tariffs could shave 0.5% off global growth by 2020. (https://www.bbc.co.uk/news/business-44851548)

Separate releases recently showed growth in China's manufacturing sector slowing in July (https://www.reuters.com/article/us-china-economy-pmi-factory-official/chinas-july-manufacturing-growth-slows-on-trade-dispute-softer-domestic-demand-idUSKBN1KL03T) and

one measure of US consumer sentiment falling (https://www.wsj.com/articles/u-s-consumer-sentiment-dips-due-to-tariff-concerns-1531491919) due to tariff concerns,

Morgan Stanley estimates that a full-blown escalation of the trade dispute could knock 0.81 percentage points off global gross domestic product.

This scenario would involve the US slapping 25% tariffs on all goods from both China and the EU, and them responding with similar measures.

The bank said most of the effect from tariff hikes on growth would probably be seen only in 2019.

Most of the impact - or almost 80% - would come through a disruption of domestic and international supply chains, the bank added.

https://www.bbc.co.uk/news/business-45028014

[sickdsm]

sorry, that relates how?
Clearly you didn't read the article he linked. You should have related it without reading it anyhow.......

[TeyshaBlue]

Coolness. Let us know how it goes.

Didn't get the contract. Rats. I was really looking forward to the inside perspective on the tarriff tiff.

[Winehole23]

Clearly you didn't read the article he linked. You should have related it without reading it anyhow.......Disagree. Relating China's market capitalization to DJT's trade policies assumes evidence not shown in the article.

How are the two related in your mind?

[sickdsm]

Disagree. Relating China's market capitalization to DJT's trade policies assumes evidence not shown in the article.

How are the two related in your mind?

The article talks about the trade war being the cause of the slippage. You can spout off all you want about the accuracy of the article but you sound silly trying to discredit his posting the link based off of validation.

[Winehole23]

the article doesn't provide any linkage, but just posits one by fiat.

you can't provide one, and neither apparently can TSA, but somehow I am the one who looks silly...

[Winehole23]

why y'all should swallow anything MSN says uncritically escapes...oh, right...they said something that can be construed as approval of DJT, so now we can just take their word for it.

[Winehole23]

behind the pose of rationality, pure boosterism.

[Winehole23]

CalPERS sold at the bottom of the market and lost 500 mil:

https://pbs.twimg.com/media/Dj4ARTGU8AEshDl.jpg

[sickdsm]

the article doesn't provide any linkage, but just posits one by fiat.

you can't provide one, and neither apparently can TSA, but somehow I am the one who looks silly...
Why would I be providing any sort of link? You trying to get me involved in this shows how off base you are.


Again, call out the source instead of saying there article is unrelated.

[Winehole23]

you're talking out your hat, just like the article. there's no refutation for hot air.

[Winehole23]

Nucor and US Steel are blocking tariff relief for hundreds of US companies. One wonders whether the creation of monopoly power wasn't an intended effect.



WHITNEY CURTIS/GETTY


Two major steel firms with ties to the Trump administration have successfully blocked hundreds of requests from American companies to exempt themselves from President Trump’s massive tariffs, according to a Sunday report from the New York Times. The exemption process, the Times notes, was created to help domestic businesses survive under the crushing 25 percent steel tariff, which was put into place this March. Companies could apply for the exemption if they needed a product that wasn’t otherwise available in the United States—but American steel producers were also permitted to object. Since May, more than 20,000 applications have been submitted. The Times adds that Nucor and United States Steel, both of which have ties to the administration, have objected to more than 1,600 such applications in recent months and have not yet failed in their efforts





https://www.thedailybeast.com/major-us-steel-firms-with-trump-ties-successfully-blocking-tariff-exemptions-report

[sickdsm]

you're talking out your hat, just like the article. there's no refutation for hot air.

I'm proud of you. You finally called out the article based on it's facts instead of it's relevance.

[Winehole23]

what facts?

[Winehole23]

if there no facts are given tying the two things together, the relevance vanishes.

you're not as smart as you look.

[Winehole23]

supposing for a moment the linkage is bona fide: if tariffs are hurting our largest export market, how will that fix the trade imbalance?

[RandomGuy]

sorry, that relates how?

Delicious red herring sandwhich.

[Winehole23]

I love how bald assertions become "fact based" the moment any recognizable media outlet publishes them.

[Winehole23]

correlation in time or sequence isn't causation, but people never get tired of saying so.

[RandomGuy]

you're talking out your hat, just like the article. there's no refutation for hot air.

What can be asserted with no evidence, can be dismissed with no evidence.

[boutons_deux]

Trump-aligned steel giants block hundreds of other American firms from tariff relief (https://www.dailykos.com/stories/2018/8/6/1786299/-Trump-aligned-steel-giants-block-hundreds-of-other-American-firms-from-tariff-relief)

the American manufacturers benefitting the most from Donald Trump's tariffs on steel and aluminum imports have deep ties to the Trump administration.

Even as the administration set up a system designed to lessen the impact of the tariffs on companies that use imported metal,

American steel giants close to top Trump advisers like Commerce Secretary Wilbur Ross and trade adviser Peter Navarro have dominated the process.

The New York Times writes (https://www.nytimes.com/2018/08/05/us/politics/nucor-us-steel-tariff-exemptions.html?partner=rss&emc=rss&smid=tw-nytimes&smtyp=cur):

As the head of a private equity fund, Mr. Ross bought and operated several steel companies, which he later sold at a profit, and he sat on a steel company’s board of directors until his confirmation.

The United States trade representative, Robert Lighthizer, represented United States Steel (https://www.nytimes.com/2018/03/09/us/politics/robert-lighthizer-trade.html) and other steel manufacturers in private practice as a lawyer, and

so did his deputy, Jeffrey Gerrish.

Nucor spent $1 million to fund a documentary (https://www.wsj.com/articles/navarros-ties-to-nucor-highlight-trump-advisers-steel-industry-connections-1521192602?ns=prod/accounts-wsj), “Death by China,” made by Peter Navarro, a Trump trade adviser, in 2011.


As luck would have it,

Nucor and United States Steel have unilaterally blocked the exemptions that many American companies like automakers and farm equipment manufacturers have sought.

To date, Nucor and United States Steel together have objected to 1,600 exemption requests and, of those that have been decided,

the two steel manufacturing behemoths have won every time.

Overall, American companies that use imported steel have filed for some 20,000 tariff exemptions and, by the end of July, the Commerce Department had rejected 639 of those.

Half of those denials came in cases where

United States Steel, Nucor or a third large steel maker, AK Steel Holding Corporation,

filed an objection, a New York Times analysis shows.




“This process was not designed to be successfully navigated” by manufacturers seeking exclusions, said Richard Chriss,

the president of the American Institute for International Steel,

which has sued to block the tariffs on constitutional grounds (http://www.aiis.org/wp-content/uploads/2018/07/2018.07.19-Plaintiffs-Motion-Proposed-Order-Memo-for-Summary-Judgment-MMM-from-docket.pdf).



https://www.dailykos.com/stories/2018/8/6/1786299/-Trump-aligned-steel-giants-block-hundreds-of-other-American-firms-from-tariff-relief

[boutons_deux]

'Tariffs Feed the Swamp': Wall Street Journal Issues Scathing Editorial Against Trump's Latest Recipe for 'Crony Capitalism and Corruption'

Trump has somehow given the Wall Street Journal editorial board and Paul Krugman something to agree about.

"Tariffs are taxes, which distort investment and limit growth," the editorial said in the piece.

"And like taxes, when tariffs are high they create a political incentive for exemptions and favoritism.

Behold the Commerce Department’s new and tortuous process for reviewing exemptions to steel and aluminum tariffs.

This is everything Republicans typically claim to hate."

"This is the worst thing about Trump trade policy I've read yet,"

tweeted (https://twitter.com/paulkrugman/status/1026341491411701760) liberal economist Paul Krugman, in rare agreement with the Journal's editorial board.

"Tariffs are one thing;

tariffs that are enforced selectively,

at the discretion of political appointees,

are much worse --

an open invitation to corruption."

the result is that tens of thousands of applications have been filed with the Commerce Department, to be reviewed by non-experts in the relevant fields.

And while the applications are supposed to be settled within three months, companies have already seen that deadline come and go with no response.

"This Commerce mess

illustrates that in addition to the harm tariffs do economically,

they also create new opportunities for crony capitalism and corruption.

Far from draining the swamp, tariffs feed the swamp," the board writes.

https://www.alternet.org/news-amp-politics/tariffs-feed-swamp-wall-street-journal-issues-scathing-editorial-against-trumps

[spurraider21]

Unrelated to tariffs I am seeing serious wage acceleration in skilled trades. You guys will need to get used to $100+ an hour for a average skilled plumber or AC guy to come to your house.
i wouldnt mind paying that for services if i lived in a market where good houses can be had for 250k

[sickdsm]

if there no facts are given tying the two things together, the relevance vanishes.

you're not as smart as you look.
No facts. This is relevant how?

[hater]

Xi JinPimp going HAM ON US folks :wow

1027177885038075908

I ddidnt know china bought so kuch shit from us :lol

We screwed :lol

[boutons_deux]

Zte was caught trading with Iran earlier

Will Trash allow ZTE to be exempt from Iran sanctions now? Chinese $500M money talks to Trash's golf course

[RandomGuy]

https://www.nytimes.com/2018/08/08/business/trump-trade-china.html
Trump’s Tariffs Are Changing Trade With China. Here Are 2 Emerging Endgames.



---

My guess is that Mexico will end up being a winner here. Shifting industrial production from China at the edges to Mexico. Its proximity and low cost will become a bit more attractive relative to China.

[SnakeBoy]

https://www.nytimes.com/2018/08/08/business/trump-trade-china.html
Trump’s Tariffs Are Changing Trade With China. Here Are 2 Emerging Endgames.



---

My guess is that Mexico will end up being a winner here. Shifting industrial production from China at the edges to Mexico. Its proximity and low cost will become a bit more attractive relative to China.

So "your" guess is what the article said. Cool.

[boutons_deux]

https://www.nytimes.com/2018/08/08/business/trump-trade-china.html
Trump’s Tariffs Are Changing Trade With China. Here Are 2 Emerging Endgames.

My guess is that Mexico will end up being a winner here. Shifting industrial production from China at the edges to Mexico. Its proximity and low cost will become a bit more attractive relative to China.

China will be even more aggressive developing new markets to replace sales lost to Trash, and the USA will have accomplished nothing worth all the pain Trash is inflicting on US companies and workers.

There's no stopping China, Taiwan, SK and the developed Asian nations.

Trash simpleton has not realized that the USA must learn to coexist with China, etc rather than dominate world markets.

The USA dominant commercial hegemony since WWII is gone. USA's military hegemony continues, and is hated by the planet, with USA polling as the biggest threat to world peace.

[RandomGuy]

[vacuous personal attack]

[apathy tinged with pity for poster]

[boutons_deux]

Making America Unemployed Again: South Carolina plant announces closure, cites Trump tariffs (https://www.dailykos.com/stories/2018/8/7/1786607/-Making-America-Unemployed-Again-South-Carolinia-plant-announces-closure-cites-Trump-tariffs)

From WLTX: (https://www.wltx.com/article/news/local/fairfield-county-tv-plant-closing-laying-off-126-employees-due-to-tariffs/101-581306681)

Element TV Company (https://www.elementelectronics.com/) in Winnsboro has served notice to the S.C. Department of Workforce and Employment (SCDEW) that

it will close in October, which will result in the layoff of 126 of its 134 full-time
employees.


The high tech television company said the tariffs are entirely to blame for their closure:

Officials with Element say the layoff and closure are the

"result of the new tariffs that were recently and unexpectedly imposed on many goods imported from China, including the key television components used in our assembly operations in Winnsboro."

Element has long paired its commitment to building state-of-the-art TVs with its belief in building the community it employs.


In 2014, they partnered with Walmart to tout their “assembled in the USA” approach, something that the workers and owners clearly took pride in during this video.

One worker described the company coming to Winnsboro, South Carolina, as a “blessing.”

https://www.dailykos.com/stories/2018/8/7/1786607/-Making-America-Unemployed-Again-South-Carolinia-plant-announces-closure-cites-Trump-tariffs

Are sick yet of so much winning?

[boutons_deux]

American Boatbuilders Are the Latest Casualty in Trump's Trade War

The aluminum tariffs are causing boat prices to jump.

A retaliatory European Union tariff of 25 percent is drying up sales overseas, and

Trump's aluminum tariffs just happen to hit the thing that small recreational boats need a lot of: aluminum (https://www.latimes.com/business/la-fi-tariffs-boats-20180807-story.html).

A typical pontoon might sell for about $30,000, but that could soon rise to as much as $37,000, according to CEO Doug Smoker.

That’s largely because of the rising cost of aluminum, “the No. 1 commodity” that goes into his boats.

(Five years ago, Smoker moved to all-American purchasing wherever feasible, but the company is still getting squeezed, because demand for U.S.-made aluminum surged with the tariffs, pushing prices up.)

Nonetheless, Smoker figured the company was in decent shape — until retaliatory tariffs were imposed by Canada, where more than a quarter of his fishing boats are sold.

He rushed as much inventory as he could north of the border.

But since the levies went into effect July 1, sales there have “dried up.”


Potential boat purchasers may be inured to the notion of chucking money into their new watery hobby, but still:

a sudden $7,000 increase in the price of a $30,000 boat is something most purchasers are going to notice, and it's very likely that anyone who does need a recreational boat right-the-heck-now will be waiting until someone, somewhere talks some sense into Rich Orange Trade War Guy.

https://www.alternet.org/news-amp-politics/american-boatbuilders-are-latest-casualty-trumps-trade-war

[boutons_deux]

China paper rebuts trade war criticism, says 'an elephant can't hide'

China’s top newspaper rebutted growing criticism in government circles that Beijing should have taken a lower profile to head off its trade war with the United States, saying on Friday that,

like an elephant, China cannot hide its size and strength.

it was absolutely not the case that China brought this upon itself, the commentary said.

History showed that the United States had always gone after countries,

such as the former Soviet Union, Britain or Japan,

that were perceived as threatening its global dominance.

That had brought China into the firing line with its enormous and growing economy, the People’s Daily said.
“After more than a century of hard work, China has returned to the center of the world stage,

and this is the basic fact we must observe in the China-U.S. trade friction,” the paper wrote.

“Such a large size, such a heavy thing, can’t be hidden by ‘being low key’, just like

an elephant can’t hide behind a sapling,” it said.

The People’s Daily said

Beijing was emerging as an “unprecedented opponent” for the United States.

“No matter what China does, in the eyes of the United States,

China’s development has already ‘damaged the supremacy of the United States’,”

“Against this kind of ‘opponent’, the United States must adopt two methods -

first, use the opponent to encourage itself and exhort mass political support for ‘making America great again’, and

second, curb the opponent’s supremacy at every level,”

https://www.reuters.com/article/us-usa-trade-china/chinese-state-media-accuse-u-s-of-mobster-mentality-vow-to-fight-tariffs-idUSKBN1KT2VB?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

[boutons_deux]

Chinese state media accuse U.S. of 'mobster mentality', vow to fight tariffs

Chinese state media on Thursday accused the United States of a “mobster mentality” in its move to implement additional tariffs on Chinese goods, and

warned Beijing had all the necessary means to fight back.

https://www.reuters.com/article/us-china-trade-usa/china-paper-rebuts-trade-war-criticism-says-an-elephant-cant-hide-idUSKBN1KV01X?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

[boutons_deux]

Soybeans are stranded at sea in the US-China trade war

the ship arrived 30 minutes too late to the port of Dalian (https://www.axios.com/soybean-ship-china-tariffs-trade-war-2414c2f5-ccf3-4e6f-b3fa-a5dab39767e4.html), and has been sailing in circles ever since.

The 299-metre bulk carrier is carrying 70,000 tons of soybeans, worth about $20 million (https://www.businessinsider.com/peak-pegasis-drifting-cargo-ship-is-a-victim-of-us-china-trade-war-2018-8).

Michael Magdovitz, an analyst at Rabobank, told The Guardian (https://www.theguardian.com/business/2018/aug/08/giant-shipload-of-soybeans-drifts-off-china-victim-of-trade-war-with-us?CMP=twt_gu) that

Pegasus’ soybeans aren’t the only ones adrift;

another carrier named Star Jennifer has also been waiting for a fortnight.

https://qz.com/1352797/soybeans-are-stuck-at-sea-in-the-us-china-trade-war/

[sickdsm]

Soybean exports are 97% of what they were last year so far.

[RandomGuy]

Soybean exports are 97% of what they were last year so far.

About what one would expect from any frontloading meant to get in before the tariffs.

Big test will be YOY next year.

[KenMcCoy]

China going to break?

China's communist leaders reportedly starting to buckle under pressure of Trump's trade war

"The cracks within the party come as China's stock markets and currency have slumped and the government has struggled to shore up the economy to cushion the impact of the trade war."

https://www.businessinsider.com/chinese-leaders-overconfidence-nationalism-in-trumps-trade-war-2018-8

[boutons_deux]

China going to break?

China's communist leaders reportedly starting to buckle under pressure of Trump's trade war

"The cracks within the party come as China's stock markets and currency have slumped and the government has struggled to shore up the economy to cushion the impact of the trade war."

https://www.businessinsider.com/chinese-leaders-overconfidence-nationalism-in-trumps-trade-war-2018-8

China wont fold, wont be bullied, would destroy their credibility and independence

their currency down means their exports are even more competitive

[Winehole23]

China going to break?

China's communist leaders reportedly starting to buckle under pressure of Trump's trade war

"The cracks within the party come as China's stock markets and currency have slumped and the government has struggled to shore up the economy to cushion the impact of the trade war."

https://www.businessinsider.com/chinese-leaders-overconfidence-nationalism-in-trumps-trade-war-2018-8China's impending economic doom has been a continual rumor in this forum for ten years I've been in it.

A stopped watch at least is correct twice a day. But you could be right.

[sickdsm]

About what one would expect from any frontloading meant to get in before the tariffs.

Big test will be YOY next year.

China at 79%. Almost every other country significantly well over last year's.

[sickdsm]

https://www.express.co.uk/news/world/1001656/China-US-latest-WW3-fears-South-China-Sea-US-Navy

[RandomGuy]

China going to break?

China's communist leaders reportedly starting to buckle under pressure of Trump's trade war

"The cracks within the party come as China's stock markets and currency have slumped and the government has struggled to shore up the economy to cushion the impact of the trade war."

https://www.businessinsider.com/chinese-leaders-overconfidence-nationalism-in-trumps-trade-war-2018-8

Doubt it.

China will absolutely not want to lose face over this. Looking weak when they have been stirring nationalism is not their M.O. There is more than a little history at play, in which China has felt itself bullied or taken advantage of by "colonial powers".
.

[boutons_deux]

Trump backs boycott of Harley Davidson in steel tariff dispute

President Donald Trump backed boycotting American motorcycle manufacturer Harley Davidson Inc (HOG.N (https://www.reuters.com/finance/stocks/overview?symbol=HOG.N)) on Sunday,

Trump has criticized Harley Davidson, calling for higher, targeted taxes and threatening to lure foreign producers to the United States to increase competition.




“Many @harleydavidson owners plan to boycott the company if manufacturing moves overseas. Great! Most other companies are coming in our direction, including Harley competitors. A really bad move! U.S. will soon have a level playing field, or better,”

Harley has forecast that the EU tariffs would cost the company about $30 million to $45 million for the remainder of 2018 and $90 million to $100 million on a full-year basis.

https://www.rawstory.com/2018/08/trump-backs-boycott-harley-davidson-steel-tariff-dispute/

Trash has split Bikers-for-Trash over his fucking over H-D.

[sickdsm]

First load of beans with tariffs paid. Oops.


https://af.reuters.com/article/commoditiesNews/idAFL4N1V43DH

[Winehole23]

Oops.

Apparently Cooler Girl didn't read past the lede.


This is unlikely to be the start of a trend while China, the world’s top importer, can source alternative supplies from exporters such as Brazil, analysts said. Domestic stockpiles are 8.21 million tonnes, close to their highest on records.

“Peak Pegasus is just an extreme case since it failed to make the deadline. Sinograin had to pay for the lesson,” said Tian Hao, analyst from First Futures. “But for other buyers, they have turned to other sources such as Brazil.”

[sickdsm]

Oops.

Apparently Cooler Girl didn't read past the lede.
Not sure where I stated it's the start of something big. Clearly someone was so blinded by politics that they never understood the Oops. Can you explain where the hurt got you?

[Winehole23]

I see you kicking up dust

[Winehole23]

backtracking will do that

[boutons_deux]

Trash thinks he rules the planet. The planet, and screwed American companies and workers, say "Fuck you, asshole"

[sickdsm]

backtracking will do that

ST in a nutshell. Thinks he's so witty when he's actually doubling down on being a fucking moron. No back tracking needed.

Loling at ship fucking up and having to pay a tariff on one load of beans= oops.

There is nothing in my history that would point to anything otherwise. I don't spam post threads like most on here. I actually read them. I own up to when I'm wrong, just last week I apologized to Pavlov for misunderstanding him. I don't paint one side continuously like EVERY OTHER PERSON HERE.


LOL @ morons like you here.

[Winehole23]

I can accept that instead of being merely stupid, the misfortune of others delights you

[boutons_deux]

The average American family will get $4,000 from tax cuts, Trump team claims

https://www.washingtonpost.com/news/wonk/wp/2017/10/16/the-average-american-family-will-get-4000-from-tax-cuts-trump-team-claims/?utm_term=.1d7b587f3a79


https://pbs.twimg.com/media/DkRH0LuU0AAPGr9.jpg

[boutons_deux]

https://images.dailykos.com/images/214993/large/lucy-football.jpg?1456424911

[boutons_deux]

https://images.dailykos.com/images/577232/large/Screen_Shot_2018-08-13_at_3.20.18_PM.png?1534198895

[sickdsm]

I can accept that instead of being merely stupid, the misfortune of others delights you

Following up with being a bitch after being a fucking moron, how Winehole of you. Bad enough you had to get called out on it twice. Shithole23 fits right into the liberal cesspool of ST. Way to own up to it.

[Winehole23]

nice meltdown, Cooler Girl.

need a hanky?

[sickdsm]

nice meltdown, Cooler Girl.

need a hanky?

Cool comeback. Bitch mode almost complete. Need grammar/spelling reference to mask your level of retardation.

[KenMcCoy]

Trade War Update: China May Have Shot Self In FootChina made a “dumb move” in targeting America’s heartland with tariffs. Soybeans are a case in point.


“I understood politically why they chose soybeans, but they made a dumb move,” says John Baize, a market analyst with the U.S. Soybean Export Council. The U.S. is the number one exporter of soybeans. Brazil is number two. No one comes close after that except for Argentina, which is the largest exporter of soymeal and soybean oil.

Soy futures are expected to fall a little further if the U.S. harvest this fall is as good as the market forecasts. Soy prices are around $8.38 a bushel in the U.S. and over $10.50 per bushel in Brazil. (https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fke nrapoza%2F2018%2F08%2F15%2Ftrade-war-update-china-soy-tariffs-brazil-trump%2F&text=Soy%20prices%20are%20around%20%248.38%20a%20b ushel%20in%20the%20U.S.%20and%20over%20%2410.50%20 per%20bushel%20in%20Brazil.) China effectively gave itself a global soybean tariff.https://www.forbes.com/sites/kenrapoza/2018/08/15/trade-war-update-china-soy-tariffs-brazil-trump/



Soy prices are around $8.38 a bushel in the U.S. and over $10.50 per bushel in (https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fke nrapoza%2F2018%2F08%2F15%2Ftrade-war-update-china-soy-tariffs-brazil-trump%2F&text=Soy%20prices%20are%20around%20%248.38%20a%20b ushel%20in%20the%20U.S.%20and%20over%20%2410.50%20 per%20bushel%20in%20Brazil.)

[RandomGuy]

Following up with being a bitch after being a fucking moron, how Winehole of you. Bad enough you had to get called out on it twice. Shithole23 fits right into the liberal cesspool of ST. Way to own up to it.

(makes cat noises) MEOWER.


Gotta read back a page or two, this should be interesting.

[RandomGuy]

Big test [of the effects of tariffs on demand for US soy beans] will be YOY next year.


China at 79%. Almost every other country significantly well over last year's.

Talking about futures here?

[RandomGuy]

Didn't get the contract. Rats. I was really looking forward to the inside perspective on the tarriff tiff.

Sorry to hear. Keep at it, old (soy)bean.

[RandomGuy]

First load of beans with tariffs paid. Oops.


https://af.reuters.com/article/commoditiesNews/idAFL4N1V43DH

I do get it. "oops" they missed the deadline.

Respectfully:
Should have been a bit more clear here, if that was your intent. This could be mis-interpreted in the way that WH took it.

[sickdsm]

I do get it. "oops" they missed the deadline.

Respectfully:
Should have been a bit more clear here, if that was your intent. This could be mis-interpreted in the way that WH took it.
It was miss interpreted because he wanted me to be wrong. The views that everyone else is an idiot because they don't think similar is too prevalent here. This is my occupation, I don't read headlines bou or Chris style and spam them.


Still too lowlife to just man up about it though.

[StinkyWeezleteats]

It was miss interpreted because he wanted me to be wrong. The views that everyone else is an idiot because they don't think similar is too prevalent here. This is my occupation, I don't read headlines bou or Chris style and spam them.


Still too lowlife to just man up about it though.

Pot meet kettle :lol

[sickdsm]

Pot meet kettle :lol

Man up about being wrong? I did just that last week........

[StinkyWeezleteats]

Man up about being wrong? I did just that last week........

The views that everyone else is an idiot because they don't think similar is too prevalent here - Them

Still too lowlife - You

Complaining about insulting someone then proceed to insult someone. "Do as I say not as I do" is so typical for you fine people.

[SnakeBoy]

I don't paint one side continuously like EVERY OTHER PERSON HERE.


WH is being a dick but no need to attack us all. I'm fair and balanced.

[sickdsm]

WH is being a dick but no need to attack us all. I'm fair and balanced.

Yes, yes. A generalisation was not needed but it is the more vocal ones that fit this mold. Not the first time I've posted something neutral and got blasted for a view I did not have. Getting routinely disappointed in the banter in this place.

[sickdsm]

The views that everyone else is an idiot because they don't think similar is too prevalent here - Them

Still too lowlife - You

Complaining about insulting someone then proceed to insult someone. "Do as I say not as I do" is so typical for you fine people.

I've never acted high and mighty at insulting someone who twisted my view 180. If he doesn't appreciate me laughing at the Chinese having to pay tariffs on a fuck up ( two more ships in the same situation I believe) then that's a different story. Insulting me over a situation or a view I don't have is quite another thing. I come here for the liberal viewpoints but it appears that the ones that are educated enough to have a discussion are fewer than I thought. One liners and barbs.

[StinkyWeezleteats]

I've never acted high and mighty at insulting someone who twisted my view 180. If he doesn't appreciate me laughing at the Chinese having to pay tariffs on a fuck up ( two more ships in the same situation I believe) then that's a different story. Insulting me over a situation or a view I don't have is quite another thing. I come here for the liberal viewpoints but it appears that the ones that are educated enough to have a discussion are fewer than I thought. One liners and barbs.

Coming to spurstalk, even though this is a political forum, to seek well, thought out, educated opinions about politics was your first mistake. 90% of spurstalk are trolls or alt trolls. As you fine people say when someone bashes your Cheeto in Chief, if you don't like it leave!

[RandomGuy]

I'm fair and balanced.

(snorts)

That is some weapons grade delusion... be careful or governor good hair will send his jack boots after you.

[RandomGuy]

Trade War Update: China May Have Shot Self In FootChina made a “dumb move” in targeting America’s heartland with tariffs. Soybeans are a case in point.


“I understood politically why they chose soybeans, but they made a dumb move,” says John Baize, a market analyst with the U.S. Soybean Export Council. The U.S. is the number one exporter of soybeans. Brazil is number two. No one comes close after that except for Argentina, which is the largest exporter of soymeal and soybean oil.

Soy futures are expected to fall a little further if the U.S. harvest this fall is as good as the market forecasts. Soy prices are around $8.38 a bushel in the U.S. and over $10.50 per bushel in Brazil. (https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fke nrapoza%2F2018%2F08%2F15%2Ftrade-war-update-china-soy-tariffs-brazil-trump%2F&text=Soy%20prices%20are%20around%20%248.38%20a%20b ushel%20in%20the%20U.S.%20and%20over%20%2410.50%20 per%20bushel%20in%20Brazil.) China effectively gave itself a global soybean tariff.https://www.forbes.com/sites/kenrapoza/2018/08/15/trade-war-update-china-soy-tariffs-brazil-trump/



Soy prices are around $8.38 a bushel in the U.S. and over $10.50 per bushel in (https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fke nrapoza%2F2018%2F08%2F15%2Ftrade-war-update-china-soy-tariffs-brazil-trump%2F&text=Soy%20prices%20are%20around%20%248.38%20a%20b ushel%20in%20the%20U.S.%20and%20over%20%2410.50%20 per%20bushel%20in%20Brazil.)

A [Canadian] patriot’s guide to shopping during a Canada-U.S. trade war

Upset about Trump’s tariffs and Uncle Sam dragging its trusted allies into a trade war? Here’s how you can hit back at the U.S. with your wallet.
by Tom Yun Jun 12, 2018

https://www.macleans.ca/news/canada/a-patriots-guide-to-shopping-during-a-canada-u-s-trade-war/

[RandomGuy]

I would note the above boycott is specifically targeted to Paul Ryans state, and Mitch McConnel's state. They are not dummies, and the rest of the world will keep targeting red states.

The rest of the world is generally doing the same, as noted. The longer this drags on, the more lasting the damage will be to the US "brand image".

[KenMcCoy]

China might not be able to sustain this fight...

BEIJING—As China girds for an escalating trade fight with the U.S., it is facing increasing trouble on the home front from a slowing economy.


Spending on so-called fixed assets such as factory machinery and public works projects cooled to the lowest point in nearly two decades, the government reported Tuesday.

Other data also pointed to economic challenges. Retail sales grew, but not as sharply as analysts had expected. And unemployment ticked up to 5.1% last month, from 4.8% in June, the National Bureau of Statistics said.

Taken together, the data suggest that China can’t go toe-to-toe in retaliating against U.S. trade levies, said Shuang Ding, an economist with Standard Chartered (http://quotes.wsj.com/UK/XLON/STAN) Bank in Hong Kong.

https://www.wsj.com/articles/chinas-economy-cooled-further-in-july-1534214209

[RandomGuy]

China might not be able to sustain this fight...

BEIJING—As China girds for an escalating trade fight with the U.S., it is facing increasing trouble on the home front from a slowing economy.


Spending on so-called fixed assets such as factory machinery and public works projects cooled to the lowest point in nearly two decades, the government reported Tuesday.

Other data also pointed to economic challenges. Retail sales grew, but not as sharply as analysts had expected. And unemployment ticked up to 5.1% last month, from 4.8% in June, the National Bureau of Statistics said.

Taken together, the data suggest that China can’t go toe-to-toe in retaliating against U.S. trade levies, said Shuang Ding, an economist with Standard Chartered (http://quotes.wsj.com/UK/XLON/STAN) Bank in Hong Kong.

https://www.wsj.com/articles/chinas-economy-cooled-further-in-july-1534214209

"unable to sustain this fight" is wishful, and dangerous, thinking.

They will get to blame the US for any problems they face. We then become a convenient scapegoat, as always happens.

The rest of the world, meanwhile, is more than happy to sign trade agreements and commitments to trade more with each other. The US as a percentage of global GDP has declined, and will continue to do so.

This will mitigate the damage, and efforts have ben undertaken already to negotiate just that among allies and adversaries.

Dunno. I do not see a government concerned with saving face backing down.
.

[boutons_deux]

Illinois manufacturer says it will close its doors and move to Mexico because of Trump tariffs (https://www.dailykos.com/stories/2018/8/15/1788434/-Illinois-manufacturer-says-it-will-close-its-doors-and-move-to-Mexico-because-of-Trump-tariffs)

manufacturers like Stack-On Products, a storage safe manufacturer, begin to close up shop and head on down to Mexico (http://www.chicagotribune.com/business/ct-biz-illinois-layoffs-stack-on-tariffs-0815-biz-20180814-story.html).

“The operation is really not profitable,” Fletcher said.

He said the decision to relocate operations to Juarez, Mexico, was made about two months ago when President Donald Trump announced tariffs on numerous goods and materials from China as well as other countries,

to reduce what the president has called an unfair trade deficit.

“Mr. Trump is part of this,” Fletcher said.

So far, the United States has imposed tariffs on $34 billion of Chinese technology goods and $3 billion of Chinese steel and aluminum, and has proposed another $16 billion.


The Chicago Tribune says that about 153 people will be laid off in the Chicago area as a result of Stack-On’s closures.

But wait, there’s more!

There are at least “885 coming job cuts that Illinois employers reported last month to the state’s Department of Commerce and Economic Opportunity.”

Those numbers come from an act that forces businesses planning on laying off more than 75 workers to give 60 days notice.

https://www.dailykos.com/stories/2018/8/15/1788434/-Illinois-manufacturer-says-it-will-close-its-doors-and-move-to-Mexico-because-of-Trump-tariffs?detail=emaildkre

[boutons_deux]

In soybean country, Trump's trade war with China tests patience and nerves

thanks to President Trump’s trade war with China (http://www.latimes.com/world/la-fg-us-china-trade-20180706-story.html), which has pummeled soybean exports and prices.

Increasingly anxious about his family’s livelihood, the 44-year-old has taken small steps to save money,

such as canceling satellite television and buying a used combine harvester rather than a new one.

One thing hasn’t changed:

his support for Trump, whom Saathoff credits for taking China to task for its unfair trading behavior.

He and some of his fellow farmers are willing to give the president more time to win concessions,

betting that Trump won’t let things get really bad for American soybean farmers, :lol

who export about one-fourth of their crops to the Chinese market. But

he also warned that their patience won’t last forever.
“He’s probably the only president who knew soybean farmers exist,” said the soft-spoken Saathoff.

“I don’t know if we’re ready to rebel or not. But let’s just get the trade policy done.”

http://www.latimes.com/business/la-fi-soybean-farmers-tariffs-20180816-story.html#

[boutons_deux]

It’s becoming impossible to import US lobster in China

https://cms.qz.com/wp-content/uploads/2018/08/RTX12VO91-e1534188127623.jpg?quality=75&strip=all&w=1600

Island Seafood, a $40 million in annual sales lobster wholesaler that’s been operating on the Maine coast for over 20 years,

got a distressing message from a long-time Chinese customer at the end of July.

“I don’t think there is way to import US lobster,” he wrote.

Chinese customs officials have begun to strictly inspect US lobster, requiring “all kinds” of new documents, wrote the importer, who represents hotels in major Chinese cities.

Making matters worse, Chinese importers are now being forced to pay tariffs for the lobsters based on a price set by Beijing, not the price agreed with US distributors.

These measures are the Chinese government’s way of fighting back “against the Trump tariff policy,” he explained, “and

we fully support our country since all human being are face challenge [sic] for free trade from Trump government.”

I hope you can understand, he wrote in closing, adding

“I hope the world trade will resume soon, which seems impossible with reign of Trump.”
https://qz.com/1354619/lobster-is-the-perfect-example-of-trumps-trade-war-backfiring/

[boutons_deux]

Trashs fellators of the tiny orange dick (dick is alleged)

We await your rebuttal:

https://www.youtube.com/watch?v=etkd57lPfPU&feature=push-u-sub&attr_tag=N7_yB5Vz-bmzwYCz%3A6

[KenMcCoy]

It’s becoming impossible to import US lobster in China


Island Seafood, a $40 million in annual sales lobster wholesaler that’s been operating on the Maine coast for over 20 years,

got a distressing message from a long-time Chinese customer at the end of July.

“I don’t think there is way to import US lobster,” he wrote.

Chinese customs officials have begun to strictly inspect US lobster, requiring “all kinds” of new documents, wrote the importer, who represents hotels in major Chinese cities.

Making matters worse, Chinese importers are now being forced to pay tariffs for the lobsters based on a price set by Beijing, not the price agreed with US distributors.

These measures are the Chinese government’s way of fighting back “against the Trump tariff policy,” he explained, “and

we fully support our country since all human being are face challenge [sic] for free trade from Trump government.”

I hope you can understand, he wrote in closing, adding

“I hope the world trade will resume soon, which seems impossible with reign of Trump.”
https://qz.com/1354619/lobster-is-the-perfect-example-of-trumps-trade-war-backfiring/




Increased supply in the US will lower prices here. I'm all for cheaper tasty lobster!

[boutons_deux]

Companies SICK of SO MUCH WINNING!

Companies Warn More China Tariffs Will Cripple Them and Hurt Consumers

executives from American companies flocked to Washington on Monday to warn the Trump administration that imposing tariffs on an additional $200 billion worth of Chinese goods

would cripple their businesses and raise prices on everything from bicycles to car seats to refrigerators.

Dozens of companies voiced concerns to trade officials during the first of six days of hearings (https://ustr.gov/sites/default/files/enforcement/301Investigations/Section%20301%20Tariffs%20Hearing%20Panel%20Schedu le.pdf) on the administration’s plan to impose tariffs of as much as 25 percent on a wide array of Chinese imports. (https://www.nytimes.com/2018/07/10/us/politics/trump-china-trade-war.html)

The length of the hearing by the United States Trade Representative,

initially scheduled for just three days, was doubled to accommodate the leaders of nearly 400 companies and trade groups who will testify in hopes that they can influence the final list of products (https://www.regulations.gov/document?D=USTR-2018-0026-0001) subject to tariffs. :lol

their concerns struck a similar theme:

The United States is no longer equipped to produce many materials that they depend on for their products.

The rise of global supply chains has shifted

the bulk of manufacturing and production outside the United States,

leaving companies no choice but to rely on foreign materials, including those from China.

companies that rely heavily on Chinese imports say that approach will destroy many of the American businesses the president has said he is trying to help.

“China remains a vital and not easily replaceable link in our industry’s supply chain,” Mr. Cove said.

“Shifting manufacturing to other countries is simply not feasible in real time or to scale.”

The White House is “unwavering in their view that the U.S. will ‘win’ this trade war and that the Chinese government will have to capitulate,” :lol

“We can’t make wedding gowns and prom dresses in the United States,”

“Nobody wants to do this work.”

“I shouldn’t be put out of business because of an ill-placed attempt to balance the books between these two countries,”

https://www.nytimes.com/2018/08/20/us/politics/china-tariffs-businesses.html?partner=rss&emc=rss

[boutons_deux]

Head of largest shipping company says Trump tariffs will hurt United
States the most (https://www.dailykos.com/stories/2018/8/20/1789572/-Head-of-largest-shipping-company-says-Trump-tariffs-will-hurt-the-United-States-the-most)

Soren Skou runs the world’s largest shipping company, AP Moller-Maersk.

Donald Trump’s insistence on applying tariffs could greatly hamper global trade growth by .1 to .3 percent annually,

but that the results for the U.S. economy would be the worst, “perhaps 3 or 4 percent.” (https://www.thenational.ae/business/economy/world-s-biggest-shipper-maersk-says-tariffs-will-hurt-us-most-1.761725)

https://www.dailykos.com/stories/1789572

[boutons_deux]

U.S.-China trade talks end with no breakthrough as tariffs kick in

https://www.reuters.com/article/us-usa-trade-china/u-s-china-trade-talks-end-with-no-breakthrough-as-tariffs-kick-in-idUSKCN1L809K?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

Trash is such a fuckup.

[boutons_deux]

:lol

North Dakota Farmers Condemn GOP Senate Candidate For Telling Them to Suck It Up on Trump's Tariffs

That comment has angered many farmers in the state.

Rep. Kevin Cramer, the Republican candidate for Senate in North Dakota, is less than sympathetic.

"The problem is,

when you have a long game plan and there's short term,

potential :lol short term pain,

we don't have a very high pain threshold in the United States of America,"

Cramer said (https://www.whsv.com/content/news/484911171.html) of the Trump tariffs in June.

Cramer is challenging incumbent Democratic Sen. Heidi Heitkamp,

who has warned (https://www.heitkamp.senate.gov/public/index.cfm/2018/7/kxmb-heitkamp-n-d-can-lose-61-million-due-to-tariffs) that one study from the conservative Chamber of Commerce estimates

Trump's tariffs could cost North Dakota

$61 million in exports and

threaten up to 111,000 jobs in the state.

https://www.alternet.org/north-dakota-farmers-condemn-kevin-cramer-over-trade-war

[boutons_deux]

How One Firm Got Tariffs Imposed To Hurt US Newspapers, Bolster Own Business

A private-equity firm called One Rock Capital

got the Commerce Department to

levy tariffs on imported newsprint over the objections of the U.S. press, Canadian government and bipartisan lawmakers,

The company reportedly approached Commerce Secretary Wilbur Ross about how Canadian newsprint imports were hurting its business, resulting in tariffs that lifted newsprint prices by 30 percent.

For U.S. newspapers, the cost of newsprint is usually the second-greatest expense after personnel, making

this increase a significant burden that could lead to layoffs and closures.
“This whole play by Norpac basically disrupted an entire industry,”

Paul Boyle, senior vice president at the News Media Alliance, told the Wall Street Journal.

“My cynical side says you’ve got

an administration that happens to be not a big fan of the print publications generally,”

https://talkingpointsmemo.com/news/how-one-firm-got-tariffs-imposed-to-hurt-us-newspapers-bolster-own-business?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+tpm-news+%28TPMNews%29

The corruption is unPresidented.

[RandomGuy]

Increased supply in the US will lower prices here. I'm all for cheaper tasty lobster!

... and fewer jobs, as producers with marginal profit margins are squeezed out of business.

You really don't know how economics works, do you?

[boutons_deux]

WALL STREET BRACES ITSELF FOR TRADE WAR WITH CHINA

there is a growing expectation that collateral damage could spill onto Wall Street, disrupting U.S. banks’ plans to expand in mainland China.

Since the Chinese authorities lifted the cap on foreign ownership of securities trading and fund management companies from 49 percent to 51 percent in April,

many of the world’s biggest banks have been scrambling to take full control of their operations in China.

Bankers view the ability to own more than 50 percent of their Chinese ventures as important because it gives them full management control, including hiring staff, IT systems and compliance checks.

However, several bank executives say they fear U.S. banks may find themselves at a disadvantage because the

trade war between Washington and Beijing could delay or prevent them obtaining approval to increase their Chinese stakes.

“If the trade war and tariffs (https://www.ozy.com/fast-forward/millennials-favorite-gadgets-become-victims-of-trade-war/87859) escalate, it will be interesting to see how regulators allow liberalization to tie in with the trade rhetoric,”

says Carsten Stoehr, CEO of Greater China at Credit Suisse.

“Getting management control and a 51 percent stake is a very appealing opportunity from a strategy perspective,

especially if it ultimately leads to an opportunity to raise to 100 percent.”

https://www.ozy.com/fast-forward/wall-street-braces-itself-for-trade-war-with-china/88906?utm_source=dd&utm_medium=email&utm_campaign=08282018&variable=992d608214b505003aa04bf10a595031

[CosmicCowboy]

WALL STREET BRACES ITSELF FOR TRADE WAR WITH CHINA

there is a growing expectation that collateral damage could spill onto Wall Street, disrupting U.S. banks’ plans to expand in mainland China.

Since the Chinese authorities lifted the cap on foreign ownership of securities trading and fund management companies from 49 percent to 51 percent in April,

many of the world’s biggest banks have been scrambling to take full control of their operations in China.

Bankers view the ability to own more than 50 percent of their Chinese ventures as important because it gives them full management control, including hiring staff, IT systems and compliance checks.

However, several bank executives say they fear U.S. banks may find themselves at a disadvantage because the

trade war between Washington and Beijing could delay or prevent them obtaining approval to increase their Chinese stakes.

“If the trade war and tariffs (https://www.ozy.com/fast-forward/millennials-favorite-gadgets-become-victims-of-trade-war/87859) escalate, it will be interesting to see how regulators allow liberalization to tie in with the trade rhetoric,”

says Carsten Stoehr, CEO of Greater China at Credit Suisse.

“Getting management control and a 51 percent stake is a very appealing opportunity from a strategy perspective,

especially if it ultimately leads to an opportunity to raise to 100 percent.”

https://www.ozy.com/fast-forward/wall-street-braces-itself-for-trade-war-with-china/88906?utm_source=dd&utm_medium=email&utm_campaign=08282018&variable=992d608214b505003aa04bf10a595031




LOL

Boo loves big banks

[boutons_deux]

China Won't Share Its Samples of a Deadly Flu Virus. Here's Why That's a Problem.

the Chinese government appears to be withholding samples of the dangerous bird flu virus H7N9 (https://www.livescience.com/37945-h7n9-bird-flu-adapted.html) from the United States,

For more than a year, China has not provided samples of H7N9 to the United States, despite persistent requests from officials and research institutions, according to The New York Times (https://www.nytimes.com/2018/08/27/health/china-flu-virus-samples.html).

Experts say samples of H7N9 are needed to develop vaccines against the virus and treatments for it.

"Jeopardizing U.S. access to foreign pathogens and therapies to counter them undermines our nation's ability to protect against infections which can spread globally within days,"

Although Chinese officials originally provided timely information about H7N9 when the virus first appeared in 2013,

communication on the topic has gradually worsened,

with the country also refusing to share data from human patients infected with the virus,

https://www.livescience.com/63448-china-h7n9-flu-samples-pandemic-prevention.html

[boutons_deux]

U.S. energy companies fume over rejected steel tariff exemptions

The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.

But the department rejected a similar request from Borusan Mannesmann Pipe to exclude 4.5-inch steel pipes imported from Turkey for casing used to line new oil wells.

The reason:

multiple U.S. steelmakers objected to Borusan’s application, arguing they could supply the product,

according to the department.

Chevron drew no such objections.

the process for seeking relief is proving slow and controversial as

a deluge of applications has buried the small staff :lol of course! :lol MISgovernance rules, ok!

initially assigned to the task, prompting the department to hire dozens of extra contract workers.

The limited number of decisions made so far are drawing protests from rejected applicants and

sparking disputes between U.S. steel mills and importers of products from their foreign competitors.
Commerce has received more than 37,000 exemption requests,
far more than it planned to handle. Plan? :lol

Although 130 employees and contractors are now evaluating the applications, the agency had only ruled on 2,871 of those requests as of August 20.

The department has so far approved 1,780 of the applications and denied 1,091.

Separately, the department turned back more than 6,000 requests for what it called “filing errors” by applicants, who can fix and resubmit their requests.

Rejected applicants have criticized the department for taking sometimes misleading objections by domestic suppliers at face value and

for not allowing importers a chance to rebut their arguments.

https://www.politicususa.com/2018/08/28/u-s-energy-companies-fume-over-rejected-steel-tariff-exemptions.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+politicususa%2FfJAl+%28Politi cus+USA+%29

granting exemptions is OBVIOUSLY ripe for politically rewarding Big(gest)Donors

[boutons_deux]

China's solar subsidy cuts erode the impact of Trump tariffs

A move by China to slash subsidies for domestic solar installations has unleashed a flood of low-cost Chinese-made panels onto the global market -

pushing down prices and eroding the impact of U.S. President Donald Trump’s tariff on solar equipment imports

https://www.reuters.com/article/us-usa-solar/chinas-solar-subsidy-cuts-erode-the-impact-of-trump-tariffs-idUSKCN1LF18K?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

[TDMVPDPOY]

China's solar subsidy cuts erode the impact of Trump tariffs

A move by China to slash subsidies for domestic solar installations has unleashed a flood of low-cost Chinese-made panels onto the global market -

pushing down prices and eroding the impact of U.S. President Donald Trump’s tariff on solar equipment imports

https://www.reuters.com/article/us-usa-solar/chinas-solar-subsidy-cuts-erode-the-impact-of-trump-tariffs-idUSKCN1LF18K?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

these mofos undercut the competitor at losses they can absorb just for market share, till theres no competition thats when they become the only person in the market...then they start to increase prices

those competitors either pulled out and stop or u can still buy them knowing they produce their shit in china...so i dunno how products made in china stack up even with todays standards...

but im looking for a 6kw system

[boutons_deux]

International Trade Commission decision reverses Trump tariffs on newsprint

The U.S. International Trade Commission ruled Wednesday that imports of Canadian newsprint do not threaten or materially harm the U.S. newsprint industry, a decision that reverses tariffs put in place by the Trump administration this year.


The commission’s 5-0 ruling comes after the Commerce Department had put in place two sets of duties levied on producers and exporters of uncoated groundwood paper — the material on which most newspapers are printed — from Canada.

http://www.latimes.com/business/la-fi-newsprint-tariffs-20180829-story.html#nws=mcnewsletter

[johnsmith]

Just thought I’d drop in and give you guys an update on what the steel industry is going through because of these tariffs.....so the big companies like CMC, Nucor, Etc, are just killing it in their mills. They’re making money hand over fist. Smaller downstream companies on the other hand are dying (way more people employed at these smaller places in total than the big guys) quickly. No money is being made because they can’t compete with domestic steel prices and they’re going to start filling the unemployment line very soon. We’ve already laid off two people (only 75 in the company).

But yeah, we should definitely keep it up because .....ummmm....China!?

[boutons_deux]

I posted an article here where BigSteel got Trash to deny tariff exemptions to the little guys.

BigSteel will certainly be contributing heavily to Trash in yet another corrupt quid pro quo "transaction"

tariffs are excellent opportunities to corruptly play favorites

[johnsmith]

I posted an article here where BigSteel was got Trash to deny tariff exemptions to the little guys.

BigSteel will certainly be contributing heavily to Trash in yet another corrupt quid pro quo "transaction"

“Bigsteel” is literally leading the tariff charge from inside the whitehouse and will bankrupt many many fine small business owners by the time this is done.

[RandomGuy]

“Bigsteel” is literally leading the tariff charge from inside the whitehouse and will bankrupt many many fine small business owners by the time this is done.

Little doubt.

You have glommed onto something basic taught in economics classes.

Tariffs and protectionism narrowly help ONE group greatly, but overall are a loss for wider society because everybody else outside that industry has to pay more. The country is worse off.

To put some arbitrary numbers on the board to flesh out an abstract concept: it's like one person gets a $50,000 year job, while 300,000,000 people have to pay an extra penny for something, costing everybody $3,000,000.

Not a good trade off.