Steel and aluminum tariffs...

[boutons_deux]

‘It’s Been Insane’: Farmer Tells Fox News That Trump Trade War is Driving Bankruptcies, Suicides

https://www.mediaite.com/tv/its-been-insane-farmer-tells-fox-news-that-trump-trade-war-is-driving-bankruptcies-suicides/

[RandomGuy]

The US will export more soybeans this year than they did last year.

https://www.usda.gov/oce/commodity/wasde/wasde0519.pdf

export share is expected to rise to 35 percent from the 2018/19 record
low of 32 percent on higher supplies and compe ive prices

Shocking. It will revert to the mean.

"compe ive prices" = lower prices.

So we are going to export more because we have had to lower selling prices because of "high inventories".

The 2019/20 U.S. season-average
soybean price is projected at $8.10 per bushel, down 45 cents from the 2018/19 forecast

China’s soybean imports are
projected at 87.0 million tons, up only 1.0 million from the revised 2018/19 projection and significantly lower
than growth seen in prior years. With stagnant trade and a 2 percent increase for crush offsetting the higher
global supply, ending stocks at 113.1 million tons are forecast to decline slightly from 2018/1

China has planted more of its own, and taken steps to teach farmers how to use less soy, while pretty much not buying from the US.

This stuff is to a degree fungible, but US growers are not getting the demand they might have otherwise, absent business as usual with China, and every buyer of US soy knows they have pricing power.

Pretty plain. More Chinese imports = more demand = more money.

[pgardn]

Metal Tariffs lifted as Canada and Mexico agree to lift their retaliatory tariffs.
The dazed Orange idiot gets poked in the eye and claims victory.

China is on his mind. The idiot had to back down on the stupidity with other countries.
We got a fckn idiot as a president.






Chris again with the biting wit...
V

[Chris]

ORANGE MAN BAD!

[Nbadan]

[boutons_deux]

Toyota Upset Trump Wants to Undermine Its US Sales


Instead of very aggressively challenging the order, Toyota responded:

Toyota has been deeply engrained in the U.S. for over 60 years.

Between our R&D centers,

10 manufacturing plants,

1,500-strong dealer network,

extensive supply chain and other operations,

we directly and indirectly employ over 475,000 in the U.S.,

and have invested over $60 billion in this country,

including over $1 billion in philanthropic and community-outreach efforts.

Today’s proclamation sends a message to Toyota that our investments are not welcomed, and

the contributions from each of our employees across America are not valued.

https://247wallst.com/autos/2019/05/...F7+Wall+St.%29

[boutons_deux]

HOW MUCH WILL THE US-CHINA TRADE WAR COST YOU?

the “full incidence” of the tariffs has fallen on domestic consumers so far.

This had imposed a so-called deadweight loss to the U.S. —

a drain on the economy beyond the direct cost of the levies —

of $1.4 billion a month by the end of last year.

And that’s likely to worsen. According to one estimate,

the latest tariffs could increase that deadweight to $6.6 billion per month.

adding that once payments of tariffs to the federal government were included

the total cost of said tariffs would double, from $4.4 billion a month at the end of last year to $8.8 billion a month once the new tariffs were implemented.

if Trump targets the rest of China’s exports to the U.S. Consumer goods account for only 25 percent of the items targeted by the increased tariffs, according to Goldman Sachs, but as much as 60 percent of the remaining imports from China.

U.S. retailers would push up prices on Chinese consumer products subject to tariffs by between 3 and 8 percent in response to the latest wave of levies.

the highly compe ive nature of the retail sector would constrain the industry’s ability to pass higher import costs on to shoppers.

Rising commodity, labor and transport costs have encouraged consumer product manufacturers and retailers to push up prices.

the potential drain on confidence among businesses, financial markets and consumers from a worsening trade war could damage growth,

The key question now is the repercussions from trade tensions for the stock market, corporate confidence and household sentiment,

“The tariffs are a stealth tax on American businesses and consumers,”

“American consumers will be on the front line of the trade war.”

https://www.ozy.com/a en/how-much-will-the-us-china-trade-war-cost-you/94461?utm_term=OZY&utm_source=Sailthru&utm_medium= email&utm_campaign=DailyDose_05192019&utm_content= A

[Pavlov]

Trump bragging about raising taxes on people and US companies....

[RandomGuy]

Metal Tariffs lifted as Canada and Mexico agree to lift their retaliatory tariffs.
The dazed Orange idiot gets poked in the eye and claims victory.

China is on his mind. The idiot had to back down on the stupidity with other countries.
We got a fckn idiot as a president.






Chris again with the biting wit...
V

That is the thing, we got a trade deal, and pretty much the same one we would have gotten without the sanctions.

[boutons_deux]

Trump's Huawei Ban Could End Android As We Know It and Damage Apple

Google is complying with Trump’s administration banning of Huawei, the world’s second biggest smartphone manufacturer.

If this isn’t remedied in the short term, it may open a divide that

may prove fatal to the platform and also have a lasting effect on other companies, like Apple.

the move will most surely have repercussions in the form of Chinese government retaliation — perhaps targeting Apple — and a potential division of the Android operating system.

effectively puts Huawei out of business outside of China.

“Huawei cannot sell smartphones outside China without Google’s Android operating system, Google’s PLAY store, and regular software and security updates. Inside China, Huawei can use the portions of Android that are open source and its own app store.”

Huawei cannot sell laptops without Microsoft’s Windows operating system and Intel chips.

, Huawei’s Consumer Device Business unit brought over $50 billion in revenues in 2018. “It sold 208 million phones only last year, approximately 80 million of them outside China,” according to Greengart, “and it’s the fastest growing company in Europe, with over 20% market share.”

“Technology companies that count Huawei as a large customer will lose out on revenue and growth,” says Greengart, “Huawei’s device sales have been rising rapidly, which ripples throughout its supply chain.”

https://www.tomsguide.com/us/huawei-ban-impact-android-apple-google,news-30116.html

[boutons_deux]

Nike, Adidas Join Footwear Brands Urging Trump to Drop ‘Catastrophic’ Tariffs on Shoes Made in China

173 companies signed an open letter to the president, dated Monday and posted on the industry trade association’s website.

the U.S. Trade Representative’s office released a list of about $300 billion worth of products that could see higher import duties,

including all types of footwear, from sneakers to sandals.

http://time.com/5592467/nike-adidas-tariffs-open-letter/?utm_term=OZY&utm_source=Sailthru&utm_medium=email &utm_campaign=PDB_05212019

[boutons_deux]

China's gonna win, proving that Trash is a perennial Biggest Loser and Liar

[boutons_deux]

Intel, AMD, Other US Suppliers Expecting Losses From Huawei Ban


https://www.tomshardware.com/news/intel-amd-us-suppliers-huawei-ban-impact,39397.html

[boutons_deux]

ARM Cuts Off Huawei in Devastating Move

There’s a difference between setbacks and catastrophes. Huawei losing Google, Intel, and Qualcomm as suppliers is a setback. ARM reportedly cutting ties with the company, on the other hand, could be a bona fide catastrophe.

The BBC today reported that ARM told employees to suspend "all active contracts, support en lements, and any pending engagements” with Huawei because of the company’s addition to a blacklist by the U.S. Department of Commerce.

It might seem

weird for a Japanese-owned company based in the UK to cut ties with a Chinese firm because of U.S. trade restrictions.

But ARM said its products rely on tech from the U.S., so it has to abide by its regulations.

But losing ARM (no word on LEG) effectively scuttles Huawei’s plans to design its own chips,

because those processors would almost certainly rely on ARM designs, just like pretty much every smartphone and tablet on the market.

China’s semiconductor industry simply isn’t prepared to design and manufacture chips that aren’t based on American tech.

Huawei would have to work a miracle to be unaffected by losing the ability to build on top of ARM’s foundation.

https://www.tomshardware.com/news/arm-huawei-chips-ban-us,39404.html

[boutons_deux]

The Global Slowdown Has Divided Corporate America’s Fortunes

At companies in the S&P 500 that draw more than half their revenue from abroad, first-quarter profits fell about 12 percent

By contrast, earnings at firms that generate most of their sales within the United States grew about 6 percent.

https://www.nytimes.com/2019/05/28/b...ss&partner=rss

[boutons_deux]

Putin says Russia will supply soy beans, poultry meat to China

President Vladimir Putin said on Wednesday that Russia would supply soy beans and poultry meat to China and

that the United States had effectively given up on that market.

https://www.reuters.com/article/us-russia-meat-china-putin-idUSKCN1NX1C4?fbclid=IwAR0tUAzL6v3dfh9zSo9pv4vwJY_ tNNGCL8PAfuDHjSMBOHZaP2kOgU5ZjWs

Trash sucking Pootin's manly at every opportunity

[boutons_deux]

Rich farmers, not mom-and-pop farms, will collect most of Trump’s tariff bailout

The lone valiant farmer struggling to eke an existence from his hardscrabble farm —

that’s the image President Trump wants you to think about

when contemplating the $28 billion in bailouts he’s spending to cover farm losses from his trade war.

Think again.

The vast majority of the dollars flowing to the agriculture industry via the bailouts is likely to go to farms with annual revenues of several million dollars.

Most of them are major beneficiaries of federal crop support programs that steer billions in subsidies and low-priced crop insurance — including insurance that already covers some of their losses in the trade war.

https://www.latimes.com/business/hiltzik/la-fi-hiltzik-trump-farm-bailout-20190528-story.html

[RandomGuy]

Here's a post that didn't age well.

Dow closing Apr 9 2018: 23,979

Dow current Dec 19 2018 23,380

Federal Reserve runs this son, and Trump has been fighting them since his inception.

Feb 1, 2018 dow closes at 25,029

May 31, 2019 dow at 24,815

So the stock market has done pretty much zero since Trump took office, with an inverted yield curve looming.

[spurraider21]

Feb 1, 2018 dow closes at 25,029

May 31, 2019 dow at 24,815

So the stock market has done pretty much zero since Trump took office, with an inverted yield curve looming.

when do you think trump took office?

unless the metric you're going for is the tax cut

[boutons_deux]

5 Ways Trump’s New Plan to Seal the Border by Putting Tariffs on Mexico Could Backfire

1. They could prevent Trump from winning approval of his new version of NAFTA before the 2020 election.

2. The tariffs could actually hurt American exporters.

3. Trump could end up squandering his top political asset.

4. The United States just demonstrated that its allies cannot trust it to honor the terms of trade deals — so why would China?

5. AMLO may now be less inclined to help the U.S. with its asylum “problem.”

http://nymag.com/intelligencer/2019/05/trump-mexico-tariffs-asylum-migrants-usmca-backfire-trade-war-explained.html

[boutons_deux]

President Lopez Obrador of Mexico responds to Trump's tariff threat & it’s a beautiful thing

Mexico City, May 30, 2019

President Donald Trump,

...

I express to you that I don’t want confrontation. The peoples and nations that we represent deserve that we resort to dialogue and act with prudence and responsibility, in the face of any conflict in our relations, serious as it may be.

...

, we frame our policy on immigration. Human beings do not leave their villages for pleasure but out of necessity. That’s why, from the beginning of my government, I proposed opting for cooperation in development and aid for the Central American countries with productive investments to create jobs and resolve this painful situation.

...

social problems are not resolved by tariffs or coercive measures like turning a neighboring country overnight into a ghetto, an enclosed place for the migrants of the world, where they’re stigmatized, abused, persecuted, and excluded and the right to justice is denied to those who seek to work and to live free from want. The Statue of Liberty is not an empty symbol.

...

the slogan "United States First" is a fallacy because universal justice and fraternity will prevail until the end of time, even over national borders.

...

I propose to deepen our dialogue, and seek alternatives to the immigration problem. And, please remember that I do not lack courage, that I am not cowardly or timorous, but that I act on principles.


...

Nothing by force. Everything by reason and human rights.
Your friend,
Andrés Manuel López Obrador

President of México
https://lopezobrador.org.mx/wp-conte...ente-Trump.pdf

https://www.dailykos.com/stories/201...tail=emaildkre

AMLO sounds like a stateman, Trash IS a ing ignorant paranoid illegit mentally ill President, supported by mentally ill Americans.

[boutons_deux]

Trump’s Crazy Mexico Tariff Is Stoking a Meltdown on Wall Street

On Thursday evening, Senator Chuck Grassley, the chairman of the Senate Finance Committee, called Trump’s threat a “misuse” of his Presidential powers, pointing out that trade policy and border security are separate issues.

Senator Joni Ernst, Grassley's Iowa colleague, warned that Trump’s move could derail congressional approval of a new trade deal with Canada and Mexico.

He has grown used to Republicans and corporate trade groups carping about his various trade wars, and he knows that there won’t be any meaningful follow-through, as long as his base of supporters and his right-wing-media allies back him up.

The only real constraints on Trump’s actions are the courts, the opinion polls, and the financial markets.

On Friday, the U.S. Chamber of Commerce, which represents Fortune 500 companies, like General Motors and Ford, whose businesses are dependent on imports from Mexico, said that

it was considering legal action. “We have no choice but to pursue every option available to push back,”

Trump was relying on the International Emergency Economic Powers Act, of 1977,

which gives the President broad authority to respond to an “unusual and extraordinary threat” to the national security, foreign policy, or economy of the United States. the legislation has never been invoked to impose tariffs, and

Mexico is an ally, not an adversary.

If the new tariffs do go into effect, they will raise the prices for consumers on a wide range of goods, which could produce a popular backlash.

fifty-three per cent of respondents said that they disapproved of Trump’s handling of trade,

forty-seven per cent of respondents disapproved of Trump’s immigration policies, and

forty-four per cent approved.

eighty-two per cent of self-identified Republicans approve of Trump’s trade policies.

eighty-five per cent of Republicans expressed support for his immigration policies.

seems unlikely that it will prompt Trump’s backers to desert him en masse.

That leaves the stock market, which Trump watches closely, and which could yet prove to be the most effective constraint on his actions.

Based on his experience of the last two years,

Trump seems to believe that he can target anybody for his bullying, acting as arbitrarily as he wants, and

he still won’t suffer any consequences,

because the economy and the stock market will continue to power ahead.

the economy has already slowed in the second quarter of the year, which leaves it more vulnerable to negative shocks,

this latest Trump power play is so extreme and potentially self-destructive that, according to the Wall Street Journal,

even his own hard-line trade adviser, Robert Lighthizer, opposed it.

“I keep reading [that] Trump views the stock market as a real-time indicator of how he's doing,”

“Either that’s wrong, or

he’s going to have to blink on tariffs, because

the market can’t live with this level of crazy.”

https://www.newyorker.com/news/our-columnists/trumps-crazy-mexico-tariff-is-stoking-a-meltdown-on-wall-street?utm_campaign=aud-dev&utm_source=nl&utm_brand=tny&utm_mailing=TNY_Da ily_060119&utm_medium=email&bxid=5bd6795524c17c104 8022fcc&cndid=43758549&esrc=&utm_term=TNY_Daily

[boutons_deux]

DONALD TRUMP’S WAR ON CARS IS PUSHING THE US CLOSER TO A RECESSION

New taxes on Mexican goods would be the latest blow to automakers, and would come at a precarious time




When President Donald Trump announced new tariffs on Mexican goods this week, he delivered the latest blow in a war he’s waged on automakers since before he was elected.

as he continues to escalate his fight against foreign-made cars, some experts think the US will move closer to another recession.

The tariffs are on “all goods” coming to the US from Mexico, but they’d likely hit the auto industry hard.

If they escalate to the 25 percent cap Trump proposed, and the automakers absorb the entire cost so as not to pass it onto consumers,

it could cost General Motors (GM) $6.3 billion,

Fiat Chrysler Automobiles (FCA) $4.8 billion, and

Ford $3.3 billion,

By the end of Friday, the threat of the tariffs alone had already wiped out about $17 billion of market value from the world’s biggest automakers.

https://www.theverge.com/2019/6/1/18...recession-jobshen

[boutons_deux]

Trump’s stunning decision to escalate trade wars with China and Mexico signals a turning point for U.S. policy

President Trump’s plan to slap new tariffs on Mexican imports, weeks after escalating his trade war with China, leaves the United States fighting a multi-front campaign that threatens more instability for manufacturers, consumers and the global economy.

“In our view, if the U.S. is willing to impose tariff and non-tariff barriers on China and Mexico,

then the bar for tariffs on other important U.S. trading partners, including Europe, may be lower than we previously thought,”

“We think trade tensions could escalate further before they de-escalate,”

Trump’s move against Mexico a turning point for financial markets and the U.S. economy.

investors spooked by new tariff threats sought safety in German government bonds and the Euro rather than their customary dollar-denominated havens.

This “seems to me an indicator that the concerns about the U.S. are rising,”

“A lot of companies feeling pressure to get out of China are looking at Mexico if they want to serve the US market, Vietnam if they’re more focused on Asia,”

“Trump’s action yesterday scrambles all those plans.”

few have reported returning production to the United States, despite the president’s stated aim of using trade policy to help bring jobs back home.

Many are still seeking alternative locations overseas, where labor is cheaper.

If no solution is found, Mexico is certain to impose retaliatory tariffs on U.S. goods, with likely targets including U.S. pork, beef, wheat and dairy products,

the about-face treatment of Mexico would damage Trump’s ability to negotiate trade deals it is pursuing with other partners, including China and Europe.

“You can’t negotiate a trade agreement with someone and then turn around and whack them,”

“The drag to the US economy could be meaningful, especially if the tariffs reach 25%,”

Even if the tariff remains at 5 percent, the effective cost could be higher because many parts cross the border several times as products are assembled, and the tariff must be paid upon each crossing into the United States.

U.S. automakers will be among the principal casualties.

Last year, the United States imported roughly $350 billion in merchandise from Mexico, including about $85 billion in vehicles and parts,

“The auto sector – and the 10 million jobs it supports – relies upon the North American supply chain and cross border commerce to remain globally compe ive,”

Consumers could pay up to $1,300 more per vehicle if the tariffs are implemented,

https://www.washingtonpost.com/business/economy/trumps-stunning-decision-to-escalate-trade-wars-with-china-and-mexico-signals-a-turning-point-for-us-policy/2019/05/31/d1e28270-83da-11e9-95a9-e2c830afe24f_story.html?utm_term=.255406911491&wpi src=nl_most&wpmm=1

[boutons_deux]

Chinese playing hard ball, not yielding anything to, not intimidated or bullied by Trash, throwing his own words back at him

Chinese brutally taunt Trump over his failing trade war: He has ‘not made America great again’

the Chinese government claims it has made its last offer on a trade agreement with the U.S.,

while at the same time ridiculing President Donald Trump for being on the losing end of the trade war he began.

a senior Chinese official made a series of statements outlining the Chinese government’s terms for negotiation and pushed back on the United States’ use of pressure to force concessions,”

“During the consultations, China has overcome many difficulties and put forward pragmatic solutions. However, the U.S. has backtracked, and when you give them an inch, they want a yard.”

https://www.rawstory.com/2019/06/chinese-brutally-taunt-trump-over-his-failing-trade-war-he-has-not-made-america-great-again/?utm_source=push_notifications&utm_source=&utm_med ium=email&utm_campaign=278

China knows the 21st Century is the Chinese century, not the American century