U.S. blinks in trade fight with China, delaying tariffs on some imports

[iguanaman]

You think China will change when there is someone else in office?
Why didn’t China change during the Obama years?
How are Trump’s tariffs making steel too expense to sell overseas?
Our steel is more expensive because Chinese government subsidies their steel manufacturing, because they pay their workers S*** and because they ignore environmental concerns.

We don't export raw steel. The 25% tariffs allowed US steel makers to raise prices to their American customers who export their products made with that steel. What I do know is as long as we are all alone China will not give in. It's pride and a desire to discredit Trump. Far from being a "deal maker" he has been a "deal breaker" instead.

Reduced competition from imported steel has allowed domestic producers such as US Steel to raise the prices of their American-made products. But much of its product is sold based on longer term contracts that lock in prices. So there are still price increases ahead for US Steel (X) as those contracts come to an end.

US Steel a big winner after tariffs boost prices

 

[Lovebug]

The rest of the article can be found here.

He's doing this for Christmas! And it creates the type of financial volatility that market makers just lap up.

The CCP will view this as a sign of weakness.

Deals, like a passionate dance, is something most know nothing about

 

[Kushinator]

Excess spending is a bipartisan problem that has existed for decades.

A trade deficit isn't the same thing as a fiscal deficit. :lol:

 

[Kushinator]

Or, a chance to make a face-saving move to resolve the problems. Given China's Hong Kong problem and a weakening economy giving China some wiggle room might be a smart move.

We'll see... won't we?

 

[MTAtech]

As Trump said
I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don’t play by the rules. It’s not right when another country let’s our movies, music and software be pirated. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized.
He is right.

What are Trump’s demands? It sure seems that trade wars are not good and easy to win. Just ask American farmers. Trump’s trade war may be starting to take a toll. In particular, the uncertainty may be deterring business spending. Whether new tariffs would hurt or help your business, it now makes sense to hold off on plans to expand, until you see what he actually does. That’s not expansionary policy.

 

[MTAtech]

Talk is cheap and Trump's big talking has given us poor results. He's a buffoon and China will never change while he is in office. You have been conned and that is really what you are afraid of. BTW Trump's tariffs on steel have made our goods too expensive to sell overseas. Americans are paying the highest steel prices in the world and that effects anything made with steel. Trump says bend over and you beg for more.

Each American family is paying about $1,000 more in higher prices because of the tariffs. That’s a hidden tax. MAGA!

 

[Kushinator]

What are Trump’s demands? It sure seems that trade wars are not good and easy to win. Just ask American farmers. Trump’s trade war may be starting to take a toll. In particular, the uncertainty may be deterring business spending. Whether new tariffs would hurt or help your business, it now makes sense to hold off on plans to expand, until you see what he actually does. That’s not expansionary policy.

That's Trump's uncertainty policy. Trump has created more uncertainty in markets than any other President since.... Andrew Jackson?

 

[MTAtech]

That's Trump's uncertainty policy. Trump has created more uncertainty in markets than any other President since.... Andrew Jackson?

Jackson is Trump’s hero. Markets now down over 600.

 

[Kushinator]

Markets now down over 600.

700.....

 

[prometeus]

Mexico will pay for it...

 

[Outlook]

What are Trump’s demands? It sure seems that trade wars are not good and easy to win. Just ask American farmers. Trump’s trade war may be starting to take a toll. In particular, the uncertainty may be deterring business spending. Whether new tariffs would hurt or help your business, it now makes sense to hold off on plans to expand, until you see what he actually does. That’s not expansionary policy.

It doesn't matter to me. I try not to buy the Chinese products.
When the next democrat comes into office, they can go back to how it was three years ago with China continuing to rape our manufacturing and steal our technology and keeping their markets closed to our goods and services.
Who will buy China crap when the manufacturing jobs are gone?
The farmers will survive. In fact an overwhelming majority support Trump.

 

[MTAtech]

It doesn't matter to me. I try not to buy the Chinese products.
When the next democrat comes into office, they can go back to how it was three years ago with China continuing to rape our manufacturing and steal our technology and keeping their markets closed to our goods and services.
Who will buy China crap when the manufacturing jobs are gone?
The farmers will survive. In fact an overwhelming majority support Trump.

Nothing that you are complaining about is cured by Trump’s tariffs. It’s as if a brain surgeon performed a delicate operation with a sledge hammer. It does more harm than good.

The U.S. has plenty of manufacturing. Jobs aren’t threatened by China as much as they are threatened by automation.

Oh, and if you think you don’t buy Chinese products, you’re fooling yourself.

 

[Bullseye]

A trade deficit isn't the same thing as a fiscal deficit. :lol:

True but we've had trade deficits for a long time too.

 

[Kushinator]

True but we've had trade deficits for a long time too.

Trade deficits are not a problem. They reflect savings imbalances (excess foreign savings), and allow the U.S. to consume above it's productive capacity.

 

[Outlook]

Oh, and if you think you don’t buy Chinese products, you’re fooling yourself.

Oops, you didn't read my post. I think I said "I try not to buy".

 

[Outlook]

Nothing that you are complaining about is cured by Trump’s tariffs. It’s as if a brain surgeon performed a delicate operation with a sledge hammer. It does more harm than good.

The U.S. has plenty of manufacturing. Jobs aren’t threatened by China as much as they are threatened by automation.

Oh, and if you think you don’t buy Chinese products, you’re fooling yourself.

Economic Snapshot • March 31, 2010

China’s entry into the World Trade Organization in 2001 was touted as a win-win development that would benefit both the U.S. and Chinese economies. Almost a decade later, it is clear that American workers have suffered significant losses. In a new paper, EPI International Economist Robert Scott calculates that 2.4 million American jobs were lost between 2001 and 2008 as a result of increased trade with China, and that those job losses have occurred in every U.S. state, Congressional district, and most industries.

US News and World Report
By Danielle Kurtzleben, Staff Writer Aug. 24, 2012, at 5:10 p.m.
THERE ARE ROUGHLY 5.1 million fewer American manufacturing jobs now than at the start of 2001. And China is to blame for more than one-third of that loss, says a new report.

I'm glad to hear China is not a threat to our jobs.

 

[MTAtech]

Economic Snapshot • March 31, 2010

China’s entry into the World Trade Organization in 2001 was touted as a win-win development that would benefit both the U.S. and Chinese economies. Almost a decade later, it is clear that American workers have suffered significant losses. In a new paper, EPI International Economist Robert Scott calculates that 2.4 million American jobs were lost between 2001 and 2008 as a result of increased trade with China, and that those job losses have occurred in every U.S. state, Congressional district, and most industries.

US News and World Report
By Danielle Kurtzleben, Staff Writer Aug. 24, 2012, at 5:10 p.m.
THERE ARE ROUGHLY 5.1 million fewer American manufacturing jobs now than at the start of 2001. And China is to blame for more than one-third of that loss, says a new report.

I'm glad to hear China is not a threat to our jobs.

As I wrote, we make lots of stuff, just with fewer workers.

 

[Outlook]

As I wrote, we make lots of stuff, just with fewer workers.

Typical liberal, obviously don’t care about the millions of jobs lost as long as they can get their cheap stuff from China.

 

[Torus34]

As the days pass and as the US economic outlook for the next year or so begins to deteriorate, China may well be just doing whatever's necessary to wait out the term of President of the Unites States of America Donald Trump. We'll just have to wait and see how things go from here. It appears that President Trump, having tasted the rich stew of political power, is unwilling to accept a thinner gruel.

 

[notquiteright]

Typical liberal, obviously don’t care about the millions of jobs lost as long as they can get their cheap stuff from China.

Typical rabid right propaganda spew.... :roll:

Plenty of MAGA hats coming out of Walmart with a trailer trash girlfriend dressed in cheap Chinese clothes- best one is the Bald Eagle T-shirt with the American flag in the back round- made in Vietnam.... :doh

Liberals don't send orders overseas for cheap stuff from China- the 'job creators' did right after they got their latest tax cut.... :shock:

Cummins, Caterpillar, John Deere, Walmart, black and decker, Ivanka- just a few who reap major windfalls in tax cuts AND don't care about millions of lost jobs... eace

 

[MTAtech]

Typical liberal, obviously don’t care about the millions of jobs lost as long as they can get their cheap stuff from China.

What I was showing you, which went over your head, was that we’re not losing jobs to China as we are losing them to automation.

 

[Outlook]

What I was showing you, which went over your head, was that we’re not losing jobs to China as we are losing them to automation.

American companies benefit from outsourcing manufacturing to China (Baysourceglobal. com)

The most common reason for outsource manufacturing is the reduction of cost. American companies outsource manufacturing to China to have their goods assembled, or completely built overseas, at incredibly low costs.

China accounts for one-fifth of the global manufacturing, making it the largest manufacturing nation in the world. Shanghai will remain the manufacturing center of quality electronic devices because they have the skilled labor, as well as the excellent engineers required to produce high-quality products, while many other regions specialize in other types of manufacturing, such as plastics, automotive, textiles, etc.


Moneywatch
China really is to blame for millions of lost U.S. manufacturing jobs, new study finds

Published: May 14, 2018 1:30 p.m.

The latest research to poke holes in the theory of automation-is-to-blame is from Susan Houseman of the Upjohn Institute.

Houseman’s findings boil down to this: The government for decades has vastly overestimated the growth of productivity in the American manufacturing sector. It’s been growing no faster than the rest of the economy.

What that means is, the adoption of technology is not the chief reason why millions of working-class Americans lost their jobs in a vast region stretching from the mouth of the Mississippi river to the shores of the Great Lakes. Nor was it inevitable.

Houseman contend the introduction of China into the global trading system is root cause of the job losses.

Put another way, President Bill Clinton and political leaders who succeeded him accepted the risk that the U.S. would suffer short-term economic harm from opening the U.S. to Chinese exports in hopes of long-run gains of a more stable China.

No longer needing to worry about U.S. tariffs, the Chinese took full advantage. Low Chinese wages and a cheap Chinese currency CNYUSD, -0.0767% — at a time when the dollar DXY, +0.07% was strong — gave China several huge advantages. Companies shuttered operations in the U.S., moved to China and eventually set up research hubs overseas in another blow to the America’s economic leadership.

Who's head were you talking about?

 

[Lord Tammerlain]

American companies benefit from outsourcing manufacturing to China (Baysourceglobal. com)

The most common reason for outsource manufacturing is the reduction of cost. American companies outsource manufacturing to China to have their goods assembled, or completely built overseas, at incredibly low costs.

China accounts for one-fifth of the global manufacturing, making it the largest manufacturing nation in the world. Shanghai will remain the manufacturing center of quality electronic devices because they have the skilled labor, as well as the excellent engineers required to produce high-quality products, while many other regions specialize in other types of manufacturing, such as plastics, automotive, textiles, etc.


Moneywatch
China really is to blame for millions of lost U.S. manufacturing jobs, new study finds

Published: May 14, 2018 1:30 p.m.

The latest research to poke holes in the theory of automation-is-to-blame is from Susan Houseman of the Upjohn Institute.

Houseman’s findings boil down to this: The government for decades has vastly overestimated the growth of productivity in the American manufacturing sector. It’s been growing no faster than the rest of the economy.

What that means is, the adoption of technology is not the chief reason why millions of working-class Americans lost their jobs in a vast region stretching from the mouth of the Mississippi river to the shores of the Great Lakes. Nor was it inevitable.

Houseman contend the introduction of China into the global trading system is root cause of the job losses.

Put another way, President Bill Clinton and political leaders who succeeded him accepted the risk that the U.S. would suffer short-term economic harm from opening the U.S. to Chinese exports in hopes of long-run gains of a more stable China.

No longer needing to worry about U.S. tariffs, the Chinese took full advantage. Low Chinese wages and a cheap Chinese currency CNYUSD, -0.0767% — at a time when the dollar DXY, +0.07% was strong — gave China several huge advantages. Companies shuttered operations in the U.S., moved to China and eventually set up research hubs overseas in another blow to the America’s economic leadership.

Who's head were you talking about?

Why did China get to where it is when India, which had just as cheap labour has not?

 

[Outlook]

Why did China get to where it is when India, which had just as cheap labour has not?

India has a fast growing economy but their growth is driven by domestic consumption. Also they have political and social problems.

 

[Lord Tammerlain]

India has a fast growing economy but their growth is driven by domestic consumption. Also they have political and social problems.

That ignores the investment in infrastructure that China has made. Investments that make it efficient and cost effective far beyond just having cheap labor. That other countries have not made