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Thread: China retaliates with tariffs on $75 billion of US goods

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    Default China retaliates with tariffs on $75 billion of US goods

    The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about $75 billion worth of US goods.

    China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.
    The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th.


    https://www.cnn.com/2019/08/23/busin...war/index.html
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    Quote Originally Posted by guno View Post
    The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about $75 billion worth of US goods.

    China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.
    The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th.

    https://www.cnn.com/2019/08/23/busin...war/index.html
    AWESOME!!! Are you cheering for the Communists or America in this fight?
    Page 173 V I: Ultimately, the investigation did not establish that the Campaign coordinated or conspired with the Russian government in its election-interference activities.


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    That'll cut the balls off the Chinese consumer, eh?
    I condemn the National Socialist German Workers Party, the Socialist Democrat Hate Whitey Party,... and Socialist Workers party heroes, Mao, Chavez, Mussolini, Pol Pot, Stalin, Castro and Kim Jung Un.

    Liberal Racist code: Orange is the New White

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    Quote Originally Posted by guno View Post
    The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about $75 billion worth of US goods.

    China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.
    The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th.


    https://www.cnn.com/2019/08/23/busin...war/index.html
    OK. War is hell. Who cares if China wants to pay up to 25% more for US products? It not like it will make the cheap knockoffs of these products they produce in their nation be of any more quality. Question? Just why and how much of these products do you suspect China actually imports...when they are the cheap knockoff capital of the world? I'd say just enough to make a reproducible template. If they are importing 75 billion in goods they are stealing the intellectual property of those who import....and selling an exponentially amount of the same product back on the world market.

    What? In exchange for having a place to sell AUTO PARTS to fix automobiles that must be of inferior quality to require such a market place in the first place.....the US should turn its head with a wink and nod and allow CHINA to sell their cheap knockoffs back to the US at a 500 BILLION dollar exchange of trade rate? Is that not the problem? China sells the US so much crap there is a trade imbalance in the amount of China collecting 500 Billion more dollars than they purchase?

    Follow that 25% tariff......I bet you find a Biden or his son setting on the board of some company that has an exclusive trade deal with China. Simply follow the money to find out how such a trade imbalance exists. You will find US politicians lining their pockets with CHINESE money. Next go look at the Big Tech Corporate Books from Silicone Valley.....you will find a pipeline directly to China.
    Last edited by Ralph; 08-23-2019 at 09:40 AM.

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    Trump has 'squandered' a good economy on tax cuts for billionaires, now he needs someone to blame


    For almost three years, Donald Trump has coasted along on the crest of the economic wave set in motion by President Barack Obama. But he’s definitely been coasting. Even with the pure sugar water blast provided to corporations by the Republican tax bonanza, economic performance has been weaker on almost every point since Trump took control—and that’s before this week’s re-calibration showed that half a million of the new jobs Trump has been bragging about were imaginary. Manufacturing … is not coming back. Steel … is not expanding. Coal … is absolutely dying. And farmers are experiencing the worst rate of failures in history as they wallow under the burden of Trump’s “trade wars are good, and easy to win” policy.

    Now the wave that began with the 2009 stimulus package is all but played out, worn down by actions that channeled even more money into the pockets of those who don’t spend it, and by the simple passage of time. The recent inversion of the yield curve on bonds is just one of several signals that the long period of growth is over. The economy has not escaped the boom-bust cycle which has existed at least since the Industrial Revolution. It’s not clear that it ever will.
    And having finally been convinced that all is not well, and likely to be so not-well that people will genuinely notice no matter what’s being said on Fox & Friends, Donald Trump is finally taking action concerning the threat of recession—he’s laying in a really, really good whine.

    As Reuters reports, Trump has counted on “the best economy ever” to be his biggest selling point in 2020. Just as Republicans immediately pretended that the 2008 recession started on Barack Obama’s watch when he was elected, Trump and his followers immediately took credit for the economic conditions that Trump inherited in January of 2017 and have pretended ever since that he was the one who somehow brought on prosperity by doing … something, something, something.

    Now Trump is after what has always been his most handy commodity—a convenient scapegoat. He’s going after the media for “trying to create a recession.” He’s going after the Federal Reserve chair for not ignoring his job and pouring free money into the economy. He’s going after Democrats who dare to point out the warning signs. He’s doing everything but trying to address the problem.

    ~ M. Sumner

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    Quote Originally Posted by reagansghost View Post
    Trump has 'squandered' a good economy on tax cuts for billionaires, now he needs someone to blame


    For almost three years, Donald Trump has coasted along on the crest of the economic wave set in motion by President Barack Obama. But he’s definitely been coasting. Even with the pure sugar water blast provided to corporations by the Republican tax bonanza, economic performance has been weaker on almost every point since Trump took control—and that’s before this week’s re-calibration showed that half a million of the new jobs Trump has been bragging about were imaginary. Manufacturing … is not coming back. Steel … is not expanding. Coal … is absolutely dying. And farmers are experiencing the worst rate of failures in history as they wallow under the burden of Trump’s “trade wars are good, and easy to win” policy.

    Now the wave that began with the 2009 stimulus package is all but played out, worn down by actions that channeled even more money into the pockets of those who don’t spend it, and by the simple passage of time. The recent inversion of the yield curve on bonds is just one of several signals that the long period of growth is over. The economy has not escaped the boom-bust cycle which has existed at least since the Industrial Revolution. It’s not clear that it ever will.
    And having finally been convinced that all is not well, and likely to be so not-well that people will genuinely notice no matter what’s being said on Fox & Friends, Donald Trump is finally taking action concerning the threat of recession—he’s laying in a really, really good whine.

    As Reuters reports, Trump has counted on “the best economy ever” to be his biggest selling point in 2020. Just as Republicans immediately pretended that the 2008 recession started on Barack Obama’s watch when he was elected, Trump and his followers immediately took credit for the economic conditions that Trump inherited in January of 2017 and have pretended ever since that he was the one who somehow brought on prosperity by doing … something, something, something.

    Now Trump is after what has always been his most handy commodity—a convenient scapegoat. He’s going after the media for “trying to create a recession.” He’s going after the Federal Reserve chair for not ignoring his job and pouring free money into the economy. He’s going after Democrats who dare to point out the warning signs. He’s doing everything but trying to address the problem.

    ~ M. Sumner
    Yeah...squandered...that's why you are PROJECTING the need of a recession...no? Who was it that just started a thread that declared the IRS had taken in more TAX DOLLARS after the TRUMP tax cut and blamed TRUMP for higher tax collections? Which is it?

    Yeah. A BHO wave caused this economy. That's why Trump cut taxes, rescinded all of BHO executive edicts that was killing the slowest economic recovery in US history. Truth: None of the OBMA tactics are in use today. Trump removed all of Obama's ass up the nose of US business red tape requirements. Revamped the regulations that was killing jobs that was put in place not by Congress but by the EPA...etc., revamped all the international trade deals that were in place under Obama......but THE PEOPLE are stupid....that was BHO's plan all along.

    Obama planned on doing a 180 at just the right....err...left time.
    Last edited by Ralph; 08-23-2019 at 10:03 AM.

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    My take: Chinese sense that Trump is an impotent and childish little man, for whom they neither respect nor fear.

    I think the same can be said of other world leaders, particularly G-20 countries.

    Trump has proven over and over that his threats are empty, his bluster is without substance, and if his subservience to Putin and Kim are any indication, Trump will grovel on his knees if he thinks there is any possible benefit to his ego, for example being nominated for the Nobel Peace prize.

    "Great news, folks! North Korea is no longer a nuclear threat!"

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    Quote Originally Posted by Cypress View Post
    My take: Chinese sense that Trump is an impotent and childish little man, for whom they neither respect nor fear.

    I think the same can be said of other world leaders, particularly G-20 countries.

    Trump has proven over and over that his threats are empty, his bluster is without substance, and if his subservience to Putin and Kim are any indication, Trump will grovel on his knees if he thinks there is any possible benefit to his ego, for example being nominated for the Nobel Peace prize.
    China is hoping Trump loses re-election is what this is all about.
    subservience to Putin
    ^silliness

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    Quote Originally Posted by Cypress View Post
    My take: Chinese sense that Trump is an impotent and childish little man, for whom they neither respect nor fear.

    I think the same can be said of other world leaders, particularly G-20 countries.

    Trump has proven over and over that his threats are empty, his bluster is without substance, and if his subservience to Putin and Kim are any indication, Trump will grovel on his knees if he thinks there is any possible benefit to his ego, for example being nominated for the Nobel Peace prize.
    Yeah.....that must be why there are riots in the streets of Hong Kong......why China has lost millions of jobs while the US is adding jobs to the labor force. Empty threats. Why do all leftists talk out their asses instead of their mouths?

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    Trade war 101: There are no winners.

    You cut each other and whomever bleeds the least is proclaimed the 'winner.'

    Really, the 'winner' is the party that loses the least.

    Everybody loses in a trade war.

    Why do you think they call it 'war?'

    War is not good.

    This war has already hurt us.

    Part of the reason the debt is so high is because we have been paying our farmers billions since China stopped buying our soybeans and began getting them from Brazil. That is not a permanent situation, not a good solution. It's a temporary stopgap measure. It's not sustainable policy. You can't keep doing that. So what's the plan?

    There IS no plan! It's all up to the whimsy of Trump.

    We're screwed.

    We gotta get rid of him.
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    hey farmer rubes, winning?

    Soybeans, coffee and oil among the products hit by a new round of Chinese tariffs on US goods

    Part 1: 270 items will be imposed with a 10% tariff, including seafood, fish, crab, shrimp, fruit, nuts
    Part 2: 646 items will be imposed with a 10% tariff, including: beef, chicken, potato, wheat, soybean, TCM, steel
    Part 3: 64 items will be imposed with a 5% tariff, including: cream
    Part 4: 737 items will be imposed with a 5% tariff, including: turkey, chemicals

    https://www.cnn.com/2019/08/23/busin...oil/index.html
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    Trump Orders American Companies to ‘Start Looking for an Alternative to China’

    https://www.wral.com/china-to-raise-...a1eccef3088892
    Nationalism is an infantile disease. It is the measles of mankind. Albert Einstein

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    Quote Originally Posted by anatta View Post
    China is hoping Trump loses re-election is what this is all about.

    ^silliness
    Do you think they can do some things do make it harder on him?? & do you think they will??

    It is really sad that some in our country have more trust & respect for foreign adversarial leaders than our own loyal opposition.

    “But I suppose the most revolutionary act one can engage in is... to tell the truth.”
    ― Howard Zinn

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