The grey bar, US revenue from the tariffs, is paid by US businesses and consumers; the red bar is cash subsidies to farmers who lost Chinese contracts because of the the tariffs. Revenue from the tariffs doesn't cover the subsidies. let alone lost opportunities and relationships.
Trump's trade war looks like a loser any way you slice it.
Trash looking around for other allies to piss on or piss off
Trump Administration Considered Tariffs on Australia
officials at the Defense and State Departments told Mr. Trump the move would alienate a top ally and could come at significant cost to the United States.
https://www.nytimes.com/2019/06/02/b...ss&partner=rss
US recession odds jump as Trump’s trade wars take a bite out of the economy
The odds of a US recession by next year have increased sharply,
with mounting protectionism continuing to pose the greatest economic threat, according to a business economic survey Monday.
Nearly all the respondents to the quarterly survey from the National Association for Business Economics predicted growth would slow in 2019 but were moderately less gloomy about the risks to their outlook.
“Increased trade protectionism is considered the primary downside risk to growth by a majority of respondents,
followed by financial market strains and a global growth slowdown,”
“Recession risks are perceived to be low in the near term but to rise rapidly in 2020.”
The panelists put the odds at 60 percent for a US recession before the end of 2020 — nearly double the 35 percent forecast in the survey three months ago.
Nearly 90 percent of respondents said they had cut their growth forecasts in recent months due to US trade policy,
which has involved battles with all major US trading partners,
https://www.rawstory.com/2019/06/us-recession-odds-jump-as-trumps-trade-wars-take-a-bite-out-of-the-economy/?utm_source=&utm_medium=email&utm_campaign=281
Last edited by boutons_deux; 06-03-2019 at 03:19 PM.
Not one thing about begging in that article.
Chris brings the pure propaganda, as usual.
ask = beg in rightwingnutjob vocab
Mexico draws red line on asylum as Trump tariff risk rises
Mexico said on Monday it would reject a U.S. idea to take in all Central American asylum seekers
if it is raised at talks this week with the Trump administration,
which has threatened to impose tariffs if Mexico does not crack down on illegal immigration.
https://www.reuters.com/article/us-u...litics+News%29
Trump Makes America Irresponsible Again
Why “tariff” isn’t a “beautiful word.”
Donald Trump’s plan to impose tariffs on Mexican exports ... almost surely illegal: U.S. trade law gives presidents discretion to impose tariffs for a number of reasons, but curbing immigration isn’t one of them.
It’s also a clear violation of U.S. international agreements.
And it will reduce the living standards of most Americans,
destroy many jobs in U.S. manufacturing,
and hurt farmers.
let’s put all of that to one side and talk about the really bad stuff.
the actual history of U.S. tariffs isn’t pretty
Trump’s tariffs will more than wipe out whatever breaks middle-class Americans got from the 2017 tax cut.
until the 1930s, tariff policy was a cesspool of corruption and special-interest politics.
Trump’s erratic trade actions, unconstrained by what we used to think were the legal rules, have brought the capriciousness back, and good old-fashioned corruption #— if it isn’t happening already — won’t be far behind.
tariff policy is inextricably linked with America’s role as a global superpower.
Central to that role is the expectation that the U.S. will be both reliable and responsible
— that it will honor whatever agreements it makes, and
more broadly that it will make policy with an eye to the effects of its actions on the rest of the world.
Trump is throwing all that away.
His Mexican tariffs violate both Nafta,
and our obligations under the World Trade Organization, which, like U.S. law, permits new tariffs only under certain specified conditions.
So America has become a lawless actor in world markets, a tariff-policy rogue state.
Trump is returning America to the kind of irresponsibility it displayed after World War I
America also took a sharply protectionist turn long before the infamous 1930 Smoot Hawley Act.
In early 1921, Congress enacted the Emergency Tariff Act, soon followed by the Fordney-Mc ber Tariff of 1922.
These actions more than doubled average tariffs on dutiable imports.
Like Trump, the advocates of these tariffs claimed that they would bring prosperity to all Americans.
They didn’t.
Farmers, however, spent the 1920s suffering from low prices for their products and high prices for farm equipment, leading to a surge in foreclosures.
Part of the problem was that U.S. tariffs were met with retaliation; even before the Depression struck, the world was engaged in a gradually escalating trade war.
the trade war/debt nexus created a climate of international distrust and bitterness that contributed to the economic and political crises of the 1930s.
am I saying that Trump is repeating the policy errors America made a century ago? No.
This time it’s much worse.
while Warren Harding wasn’t a very good president, he didn’t routinely abrogate international agreements in a fit of pique.
While America in the 1920s failed to help build international ins utions, it didn’t do a Trump and actively try to undermine them.
And while U.S. leaders between the wars may have turned a blind eye to the rise of racist dictatorships,
they generally didn’t praise those dictatorships and compare them favorably to democratic regimes.
There are, however, enough parallels between U.S. tariff policy in the 1920s and Trumpism today for us
to have a pretty good picture of what happens when politicians think that tariffs are “beautiful.”
And it’s ugly.
https://www.nytimes.com/2019/06/03/opinion/trump-tariffs.html?action=click&module=Opinion&pgtype=Ho mepage
btw, Repugs are pushing back hard against Trash's MX tariff, while Trash tells Schumer that he's not bluffing.
Schumer may be baiting Trash into implementing the MX tariffs to beat him with it in the campaign.
And America of the 1920s didn't have a economic powerhouse as Trash does with China.
Last edited by boutons_deux; 06-04-2019 at 08:22 PM.
For the U.S. and China, it’s not a trade war anymore — it’s something worse
now threatens to become a far wider and more ominous confrontation.
the conflict with China has widened beyond the original trade-based issues.
Officials on both sides of the Pacific have begun to portray
the U.S.-China relationship in nationalistic and emotion-charged terms that suggest a much deeper conflict.
a member of the Chinese Politburo harangued them for almost an hour, describing the
U.S.-China relationship as a “clash of civilizations” and
boasting that China’s government-controlled system was far superior to the “Mediterranean culture” of the West,
a senior State Department official, during a forum last month in Washington, warned of a deepening confrontation with China that she cast in something close to racial terms.
whether either leader is interested in a stand-down is unclear.
At udes have hardened in recent days after the Trump administration blacklisted the telecom firm Huawei, essentially blocking one of China’s most successful global companies from buying crucial components and software from U.S. firms.
The White House is preparing similar actions against other Chinese high-tech firms,
https://www.latimes.com/politics/la-na-pol-us-china-trade-stalemate-20190531-story.html#nws=mcnewsletter
Last edited by boutons_deux; 06-05-2019 at 07:08 AM.
China Warns Tourists Against U.S. Travel Amid ‘Shootings, Robberies and Thefts’
China is cautioning its citizens against traveling to the U.S., citing safety concerns and telling tourists to look out for harassment by American law enforcement as tensions between the two countries continue to build.
In a public notice issued Tuesday, the Chinese Ministry of Culture and Tourism stated that “shootings, robberies and thefts have occurred frequently in the United States.”
https://www.huffpost.com/entry/china-us-tourism-safety-warning_n_5cf6a9d8e4b0a1997b724e60?ncid=newsltushp mgnews__TheMorningEmail__060619
Trash/Miller have also killed ALL tourism by requiring visa applicants to turnover 5 years of social media postings and 5 years of emails.
Manufacturing falls to lowest level of Trump presidency;
tariffs take the blame
Factory output hits three-year low,
thanks to erratic tariff policy and
"president who understands very little"
Manufacturing in the United States fell to its lowest level since President Donald Trump took office, according to two industry analyses.
The U.S. Manufacturing Purchasing Managers Index fell to its lowest level in April since October 2016, according to the Ins ute for Supply Management.
The ISM survey also found that its factory employment index had fallen by 11 percent since October 2016 and factory output fell to its lowest point since August 2016
Business owners were quick to point to Trump’s trade wars with China and other countries as
the leading cause for the slump in American manufacturing
https://www.salon.com/2019/06/05/manufacturing-falls-to-lowest-level-of-trump-presidency-tariffs-take-the-blame/
China imposes $23.6 million fine on Ford amid Trump’s trade war
https://www.rawstory.com/2019/06/chi...mps-trade-war/
Yes, Republicans can stand up to Trump — when their big donors insist on it
Senate Republicans are willing to defy Trump, and even override a veto —
because big business hates his tariffs
https://www.salon.com/2019/06/05/yes-republicans-can-stand-up-to-trump-when-their-big-donors-insist-on-it/
the oligarchy always gets its preferences, the citizens almost never
U.S. trade adviser Navarro: Mexico tariffs may not have to take effect
White House trade adviser Peter Navarro said on Wednesday that U.S. tariffs on Mexican goods may not have to take effect because Washington now has Mexico's attention on the issue.
https://www.reuters.com/article/us-u...2F+Top+News%29
Yes, Republicans can stand up to Trump — when their big donors insist on it
Senate Republicans are willing to defy Trump, and even override a veto —
because big business hates his tariffs
https://www.salon.com/2019/06/05/yes-republicans-can-stand-up-to-trump-when-their-big-donors-insist-on-it/
the oligarchy always gets its preferences, the citizens almost never
Are you for or against the tariffs on Mexico, boutons_deux?
Why or why not?
boutons angrily sits on the fence.
More Than 117,000 Texans Will Lose Their Jobs If Trump Imposes Mexico Tariffs, Economist Warns
https://www.sacurrent.com/the-daily/archives/2019/06/05/more-than-117000-texans-will-lose-their-jobs-if-trump-imposes-mexico-tariffs-economist-warns
Huawei and ZTE 5G ban would cost telecom industry $62 billion
Excluding China’s Huawei Technologies Co. and ZTE Corp. from the next generation of mobile networks would lumber European phone companies with 55 billion euros ($62 billion) in extra costs, the wireless industry’s main lobby group said.
A global ban advocated by U.S. President Donald Trump would also delay the rollout of the high-speed 5G networks by at least 18 months and deprive the European Union of around 45 billion euros in productivity growth,
https://mybroadband.co.za/news/telec...2-billion.html
Trump blasted for placing foreign manufacturers on government ban list reserved for terrorist nations
In an examination into how Donald Trump is waging multi-front trade wars that are roiling the world’s economy,
an intelligence analyst pointed out that the president is placing foreign manufacturers on an official government list reserved for terrorist-supporting nations.
According to the New York Times,
the Trump administration has “added the telecom gear maker Huawei to what is known as an En y List,
which effectively cuts the company off from buying American technology,”
adding that Trump “had previously placed two other big Chinese companies — the telecom giant ZTE and a memory chip maker, Fujian Jinhua Integrated Circuit — on the list and is now considering adding HikVision, a Chinese video surveillance giant.”
“The En y List is reserved for our most dangerous opponents,” Lewis explained.
“It used to be you had to be a terrorist supporting nation or a proliferator, so this is a new chapter.”
https://www.rawstory.com/2019/06/trump-blasted-for-placing-foreign-manufacturers-on-government-ban-list-reserved-for-terrorist-nations/?utm_source=feedburner&utm_medium=feed&utm_campaig n=Feed%3A+TheRawStory+%28The+Raw+Story%29
https://www.nytimes.com/2019/06/08/b...gtype=Homepage
Does Trash and his team of -sucking sycophants have any idea of what they are doing, why are they doing it, what the consequences are and will be?
China Summons Tech Giants to Warn Against Cooperating With Trump Ban
The Chinese government this past week summoned major tech companies
including Microsoft and Dell from the United States and Samsung of South Korea,
to warn that they could face dire consequences
if they cooperate with the Trump administration’s ban on sales of key American technology to Chinese companies,
Beijing’s announcement that it was assembling a list of “unreliable” companies and individuals.
That list was widely seen as a way of hitting back at the Trump administration for its decision to cut off Huawei,
The breakneck unraveling of the world’s most important trade relationship has left companies and governments around the world scrambling.
While the dispute had already been nettlesome for Chinese-U.S. relations,
the sudden ban on Huawei last month caught many by surprise,
raising the stakes by striking at the heart of China’s long-term technological ambitions.
https://www.nytimes.com/2019/06/08/business/economy/china-huawei-trump.html?emc=rss&partner=rss
Trash and his sycophants have no ing idea of the damage they are doing TO THE USA
WSJ slaps Trump over ghastly jobs report — and blames his disastrous tariffs
saying his interference in markets and trade policy is damaging the economy and he needs to butt out.
Noting a meager 75,000 jobs created, the editorial gets right to the point:
“President Trump understandably talks up the job creation on his watch,
so he should heed Friday’s Labor report that showed a sharp pullback in hiring.
The labor-market warning reinforces other evidence that the
uncertainty caused by scattershot tariffs is now hurting employment as well as investment.”
https://www.rawstory.com/2019/06/wsj-slaps-trump-in-the-face-over-ghastly-jobs-report-and-blames-his-disastrous-tariffs/?utm_source=feedburner&utm_medium=feed&utm_campaig n=Feed%3A+TheRawStory+%28The+Raw+Story%29
You don’t know how negotiations work. You’ve probably never even read The Art of The Deal.
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