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(2 days ago) Trump Warns China to Act on U.S. Trade Deal or Face Worse Terms

HumblePi

HumblePi

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Trump Warns China to Act on U.S. Trade Deal or Face Worse Terms

Bloomberg - Are you a robot?

President Donald Trump said it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.

“I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election,” Trump said Saturday in a pair of early-evening tweets. “The only problem is that they know I am going to win.”

I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year....
— Donald J. Trump (@realDonaldTrump) May 11, 2019

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(mine)

Talks with China were supposed to resume last night and now it's been postponed until next month. In the meantime markets are set to open in a few minutes. The Dow futures are set to open- 514

Will the markets be able to hold up or will they fall apart?
 
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... Art of the Deal.
 
HumblePi said:
Trump Warns China to Act on U.S. Trade Deal or Face Worse Terms

Bloomberg - Are you a robot?

President Donald Trump said it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.

“I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election,” Trump said Saturday in a pair of early-evening tweets. “The only problem is that they know I am going to win.”

I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year....
— Donald J. Trump (@realDonaldTrump) May 11, 2019

------------------------------------------------------------------------------------------------------

(mine)

Talks with China were supposed to resume last night and now it's been postponed until next week. In the meantime markets are set to open in a few minutes. The Dow futures are set to open- 514

Will the markets be able to hold up or will they fall apart?
Click to expand...

Being that the markets are global, China better hope they hold up.
 
HumblePi said:
“I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election,” Trump said Saturday in a pair of early-evening tweets. “The only problem is that they know I am going to win.”
Click to expand...

Give Trump credit, he is going to win, I have zero doubt about that.

Trump will personally save up to $15m under tax bill, analysis finds
Jared Kushner will save up to $12m, while five other members of Trump’s inner circle will also see benefits worth millions of dollars

Saudi-funded lobbyist paid for 500 rooms at Trump's hotel after 2016


The rest of the country?

Goldman: Trump tariff costs fall entirely on US businesses, households

Not so much.
 
WCH said:
Being that the markets are global, China better hope they hold up.
Click to expand...

Trade talks have been suspended until next month. In the meantime, China is retaliating with tariffs on US good. Those tariffs will take effect June 1st. and US goods will be taxed at rates of 25%, 20%, or 10%

Trump has called himself a "tariff man" and "loves collecting BIG TARIFFS!" But that was before China basicaly said 'screw you', we're in this to win and will just raise tariffs on US goods.
 
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If China continues the business will not have an economic advantage to stay in China and they will move to other countries where there are no tariffs. China will have to make a deal or they will lose manufacturing.
 
HumblePi said:
Trump Warns China to Act on U.S. Trade Deal or Face Worse Terms

Bloomberg - Are you a robot?

President Donald Trump said it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.

“I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election,” Trump said Saturday in a pair of early-evening tweets. “The only problem is that they know I am going to win.”

I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year....
— Donald J. Trump (@realDonaldTrump) May 11, 2019

------------------------------------------------------------------------------------------------------

(mine)

Talks with China were supposed to resume last night and now it's been postponed until next month. In the meantime markets are set to open in a few minutes. The Dow futures are set to open- 514

Will the markets be able to hold up or will they fall apart?
Click to expand...

Set auto tariffs on Europe this week. Stock Market can only strengthen because of this.
 
HumblePi said:
Trade talks have been suspended until next month. In the meantime, China is retaliating with tariffs on US good. Those tariffs will take effect June 1st. and US goods will be taxed at rates of 25%, 20%, or 10%
Click to expand...
China has already stopped importing soybeans and they don't import a lot from the US we import a ton of things from China.
 
HumblePi said:
Trump Warns China to Act on U.S. Trade Deal or Face Worse Terms

Bloomberg - Are you a robot?

President Donald Trump said it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.

“I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election,” Trump said Saturday in a pair of early-evening tweets. “The only problem is that they know I am going to win.”

I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year....
— Donald J. Trump (@realDonaldTrump) May 11, 2019

------------------------------------------------------------------------------------------------------

(mine)

Talks with China were supposed to resume last night and now it's been postponed until next month. In the meantime markets are set to open in a few minutes. The Dow futures are set to open- 514

Will the markets be able to hold up or will they fall apart?
Click to expand...

There were no "talks" scheduled to resume last night on a Sunday. The United States doesn't call China, they call us, that's how it works. The U.S is coming from a position of power.
 
Bucky said:
Set auto tariffs on Europe this week. Stock Market can only strengthen because of this.
Click to expand...

That's not true, not even slightly true. Auto tariffs on cars imported to the US is only going to make the buyer's sticker price higher.
 
SLC said:
China has already stopped importing soybeans and they don't import a lot from the US we import a ton of things from China.
Click to expand...

We don't export much to China. They cannot retaliate much.
 
SLC said:
If China continues the business will not have an economic advantage to stay in China and they will move to other countries where there are no tariffs. China will have to make a deal or they will lose manufacturing.
Click to expand...

China owns us, people just don't understand how much they do. The U.S. debt to China is $1.13 trillion as of January 2019. That's 28% of the $3.97 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself.

Buy gold.
 
Bucky said:
We don't export much to China. They cannot retaliate much.
Click to expand...

It appears that China is hiking the tariffs on over 4,000 products. They’re part of $60bn worth of US goods which were first targeted last year (when Donald Trump imposed 10% tariffs on $200bn of Chinese imports).

Some products will be hit with a new tariff of 25%, other will rise to 20% or 10%, while several hundred will be spared, and still only face a 5% tariff.

Here’s the details:

25% tariffs on 2,493 items
20% tariffs on 1,078 items
10% tariffs on 974 items
5% tariffs to continue on 595 items

15 minutes ago, Beijing issued a statement in Mandarin. The statement explains that Beijing is responding to last Friday’s moves by the US, saying:

"On May 9, 2019, the US government announced that since May 10, 2019, the tariff rate imposed on the $200 billion list of goods imported from China has increased from 10% to 25%.

The above measures by the United States have led to an escalation of Sino-US economic and trade frictions, contrary to the consensus between China and the United States on resolving trade differences through consultations, jeopardising the interests of both sides and not meeting the general expectations of the international community."
 
HumblePi said:
China owns us, people just don't understand how much they do. The U.S. debt to China is $1.13 trillion as of January 2019. That's 28% of the $3.97 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself.

Buy gold.
Click to expand...

Ever hear of QE? If China tries to swamp our market, the Fed will step in and buy IMO.
 
washunut said:
Ever hear of QE? If China tries to swamp our market, the Fed will step in and buy IMO.
Click to expand...

Do you understand what quantitative easing really means? The Federal reserve buys predetermined amounts of government bonds or other financial assets in order to inject money directly into the economy. The Central bank acts as a lender of last resort to the banking sector during times of financial crisis. The Feds used this during the financial crisis of 2008 to boost the economy. They only used it as a last resource because by December 2008, interest rates had reached to 0%. It became impossible to cut interest rates further and hence quantitative easing was used to inject some stimulus into the economy. Basically the central bank is buying US government bonds from the banks. This enables banks to have more money kept as reserves than it is required. It can lend this money to consumers and businesses. Hence, money supply in the economy increases.

In 2008 the big banks failed and the US was in a financial meltdown, that's why quantitative easing was used. Also, when the fed decides to sell back the bonds it accumulated, it might create panic again in the markets.
 
HumblePi said:
Do you understand what quantitative easing really means? The Federal reserve buys predetermined amounts of government bonds or other financial assets in order to inject money directly into the economy. The Central bank acts as a lender of last resort to the banking sector during times of financial crisis. The Feds used this during the financial crisis of 2008 to boost the economy. They only used it as a last resource because by December 2008, interest rates had reached to 0%. It became impossible to cut interest rates further and hence quantitative easing was used to inject some stimulus into the economy. Basically the central bank is buying US government bonds from the banks. This enables banks to have more money kept as reserves than it is required. It can lend this money to consumers and businesses. Hence, money supply in the economy increases.

In 2008 the big banks failed and the US was in a financial meltdown, that's why quantitative easing was used. Also, when the fed decides to sell back the bonds it accumulated, it might create panic again in the markets.
Click to expand...

Perhaps you need to educate yourself as to when and how many times the Fed used QE. While at it take the time to understand that the central bank of the EU is still doing it as is the BOJ.
 
washunut said:
Perhaps you need to educate yourself as to when and how many times the Fed used QE. While at it take the time to understand that the central bank of the EU is still doing it as is the BOJ.
Click to expand...

Perhaps it's YOU that needs some additional education on QE.

Japan was the first to use QE from 2001 to 2006. It restarted in 2012, with the election of Shinzo Abe as Prime Minister. He promised reforms for Japan's economy with his three-arrow program, “Abenomics.”

The U.S. Federal Reserve undertook the most successful QE effort. It added almost $2 trillion to the money supply. That’s the largest expansion from any economic stimulus program in history. As a result, the debt on the Fed’s balance sheet doubled from $2.106 trillion in November 2008 to $4.486 trillion in October 2014.

The European Central Bank adopted QE in January 2015, after seven years of austerity measures. It agreed to purchase 60 billion in euro-denominated bonds, lowering the value of the euro and increasing exports. It increased those purchases to 80 billion euros a month.
 
HumblePi said:
Perhaps it's YOU that needs some additional education on QE.

Japan was the first to use QE from 2001 to 2006. It restarted in 2012, with the election of Shinzo Abe as Prime Minister. He promised reforms for Japan's economy with his three-arrow program, “Abenomics.”

The U.S. Federal Reserve undertook the most successful QE effort. It added almost $2 trillion to the money supply. That’s the largest expansion from any economic stimulus program in history. As a result, the debt on the Fed’s balance sheet doubled from $2.106 trillion in November 2008 to $4.486 trillion in October 2014.

The European Central Bank adopted QE in January 2015, after seven years of austerity measures. It agreed to purchase 60 billion in euro-denominated bonds, lowering the value of the euro and increasing exports. It increased those purchases to 80 billion euros a month.
Click to expand...

So it seems your response that the Fed only used it in 2008 at the depths of the recession was something you knew to be untrue. Not sure many would like that in a debate opponent. I certainly don't.
 
washunut said:
So it seems your response that the Fed only used it in 2008 at the depths of the recession was something you knew to be untrue. Not sure many would like that in a debate opponent. I certainly don't.
Click to expand...

No, I happen to know that the Fed hadn't used it prior to 2008 when Hank Paulson convinced G.W. to bail out his Wall Street buddies. The four BRIC countries were highly critical of QE carried out by central banks, and rightfully so. Their contention is that it amounts to protectionism and competitive devaluation. The currencies of BRIC countries are in large part pegged to the dollar, they protest that QE causes inflation to rise in their countries and penalizes their industries.
 
SLC said:
If China continues the business will not have an economic advantage to stay in China and they will move to other countries where there are no tariffs. China will have to make a deal or they will lose manufacturing.
Click to expand...

They're not going to lose manufacturing.

It will just be that at some point it's going to be viable for the Chinese manufacturers to set up plants in other countries not subjected to the tariffs. They can still manufacture the majority of the parts in China, ship them to their off-shore plant, assemble them there, and then that product was made in someplace other than China because it was not assembled in China.

It's a bit more costly than just making everything in the same plant, but it's doable and we'd still engage in this practice because even moving about assembly plants would be cheaper than making it here.
 
SLC said:
China has already stopped importing soybeans and they don't import a lot from the US we import a ton of things from China.
Click to expand...

One of the reasons we've needed those 10's of billions in Farm bailouts.
 
HumblePi said:
Trade talks have been suspended until next month. In the meantime, China is retaliating with tariffs on US good. Those tariffs will take effect June 1st. and US goods will be taxed at rates of 25%, 20%, or 10%
Click to expand...

Who cares?

After all, the Chinese consumers will be paying those taxes, right?
 
Mycroft said:
Who cares?

After all, the Chinese consumers will be paying those taxes, right?
Click to expand...

Kudlow acknowledges US will pay for China tariffs, contradicting Trump

White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump’s claims that China will pay for tariffs imposed by the U.S
.
Kudlow said that “both sides will suffer on this,” but argued that China will suffer significant GDP losses as export markets are hit. The blow to U.S. GDP, on the other hand, won’t be substantial since the economy is “in terrific shape,” he said.

“It’s not China that pays tariffs,” Wallace said. “It’s the American importers, the American companies that pay what, in effect, is a tax increase and oftentimes passes it on to U.S. consumers.”

“Fair enough,” Kudlow replied. “In fact, both sides will pay. Both sides will pay in these things.”

Kudlow added, however, that China doesn’t actually pay the tariffs, but that their GDP will suffer “with respect to a diminishing export market.”
 
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