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Dow drops 350 points after Trump orders US companies to look for ‘alternative to China’

NeverTrump

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"Trade wars are easy to win."-- Stupid Clown President.

China struck back with retaliatory tariffs on $75 billion in American goods and reinstated levies on auto products Friday, delivering a strategically timed blow as recession warning signs cast doubt on the strength of the U.S. economy.

China hits U.S. with tariffs on $75 billion worth of goods, including autos


Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far........better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing......your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,........all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

Dow drops 350 points after Trump orders US companies to look for ‘alternative to China’
 
This is more disjointed policy. The gripe that Trump has with China is that it runs a trade surplus with the U.S. If imports are shifted from China to Vietnam, there is no difference to trade deficits.

China just decided to retailiate with another $75 billion in tariffs against the U.S.

For the record, trade wars are neither good nor easy to win.

Thanks Putin.
 
"Hereby ordered..." Trump has 'hereby ordered' American companies. And people say he doesn't want to be a dictater.

The king is mad. In Game of Thrones, he would have been beheaded last season. Perhaps on the first episode...
 
I’m wondering how much longer this can go on before Xi starts dumping bonds.
 
That's quite the rant he went on this morning. Apparently trade wars are easy to win until they're not. I'll reserve judgement until there's a final outcome, but I don't see some massive shift in manufacturing happening (i.e. moving manufacturing to other nations) happening at the drop of a hat.
 
Cost of labor is dirt cheap in India.

Yeah, China is no longer a particularly low labor country anymore and most of the major corporations have moved to other places like Vietnam and the Phillipines. I saw a documentary where Chinese middle class workers were complaining that their jobs were being sent overseas. As long as there's cheap labor somewhere there will always be alternatives to actually paying Americans a decent wage.

The whole purpose of Obama's Trans Pacific Partnership was to find alternatives to China. How is this different?

The difference is that the TPP was an international deal negotiated between countries, and this is just an asshole tweeting things as they pop into his head.
 
The whole purpose of Obama's Trans Pacific Partnership was to find alternatives to China. How is this different?

Open up alternatives tk companies as compared to closing down choices and forcing companies to alternatives.

You are really maki g this too easy. If you intend to take the playing obtuse angle... You need to look a bit further ahead before you post.
 
The whole purpose of Obama's Trans Pacific Partnership was to find alternatives to China. How is this different?

It's different because partnering with other Pacific nations to find alternatives to Chinese trade is a lot different than unilaterally declaring a trade war on them without allied support.
 
Only a very small amount. China still owns over $1 trillion in bonds that could be weaponized.

On the scale of our economy, that is not much. It's less than 5% of the outstanding debt.

It's also not easily weaponized. If they tried to dump it all in one day it would barely move interest rates because of the problems in Europe.
 
The whole purpose of Obama's Trans Pacific Partnership was to find alternatives to China. How is this different?
I suppose they said that. It does not make it true.
 
On the scale of our economy, that is not much. It's less than 5% of the outstanding debt.

It's also not easily weaponized. If they tried to dump it all in one day it would barely move interest rates because of the problems in Europe.

Someone needs to explain to me how dumping U.S. debt on the secondary market -- selling it at a discount, which drives down U.S. government borrowing costs, hurts the U.S.
 
Hey, you fat orange dumb ****. You’re not a king. You can’t write executive orders via tweet, and you can’t order private companies to do ****ing squat.
 
It's different because partnering with other Pacific nations to find alternatives to Chinese trade is a lot different than unilaterally declaring a trade war on them without allied support.
and the TPP had lots of other actions that had members act as a allied force, instead of go it alone.
 
Trump Tariff Order.jpg

I just like the "American companies are hereby ordered to..." line. Is there any doubt this guy thinks he's King? Jesus.
 
Just seems as if #45 is getting even crazier -- even by his standards. I don't think he knows that he can't order companies to do what he says.






Donald J. Trump


@realDonaldTrump



Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing...your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,........all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

Down 402 as of now.
 
It's different because partnering with other Pacific nations to find alternatives to Chinese trade is a lot different than unilaterally declaring a trade war on them without allied support.

Just details. The criticism of TPP was that it bound corporations to trade with small producers in small countries that joined first until their available supply was exhausted as opposed to allowing corporations to contract globally for the goods its needs with the suppliers they deemed best for their needs.
 
Made-in-China-e1558023752764.jpg
 
Just seems as if #45 is getting even crazier -- even by his standards. I don't think he knows that he can't order companies to do what he says.

Down 402 as of now.

Trump's gone full socialist. More so than Obama or any Dem in recent memory. Let's see if his base reacts, because we all know how much they hate socialism.
 
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