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'THEY BROKE THE DEAL' Donald Trump wiped nearly $1.5 TRIL Rate Topic: -----

#1 User is offline   Moderator T 

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  Posted 09 May 2019 - 03:15 PM

'THEY BROKE THE DEAL' Donald Trump wiped nearly $1.5 TRILLION off global markets in a single tweet after threatening to double China trade tariffs

Jon Lockett
The Sun
5/9/19

EXCERPT:

DONALD Trump wiped nearly $1.5 TRILLION off global markets with a single Twitter blast vowing to double tariffs on Chinese goods after they "broke" a crucial trade deal.

The US president renewed hostilities between the two economic giants by threatening to once more ramp up the cost of Beijing trading in the US.

He pledged to hike tariffs on $200 billion of Chinese goods from Friday - rocking equity markets across the world.

US negotiators also want China to clamp down on the alleged theft of US technology.

“For 10 months, China has been paying tariffs to the USA of 25% on 50 billion dollars of high tech, and 10% on 200 billion dollars of other goods,” Mr Trump said in his tweet.

“These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 billions dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%.

“The tariffs paid to the USA have had little impact on product cost, mostly borne by China. The trade deal with China continues, but too slowly, as they attempt to renegotiate. No!”

(Full Story)
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#2 User is offline   Severian 

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Posted 09 May 2019 - 04:10 PM

The people whining about this tough approach are idiots. The longer the uneven playing field between the US and China exists, the worse it gets for the US. These people are like someone who has an operable tumor that if allowed to grow will eventually kill them but are not willing to have surgery because the recovery will be painful and it hurts, wah. We've let this crap slide for far too long, and it will cause pain to force a change but be better in the long run. No one seems to be able to think beyond tomorrow anymore.
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#3 User is offline   gravelrash 

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Posted 09 May 2019 - 05:15 PM

What Severian said. Trump is using tariffs and trade deals to repatriate jobs. America needs manufacturing and production not an idle class of idol worshippers.
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#4 User is offline   GhostOfAndrewJackson 

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Posted 09 May 2019 - 09:14 PM

The people whining either do not understand or care that this is our last chance against China. China needs us far more than we need them. However in 10 more years they may grow their own domestic economy enough on our backs that they will be large enough to drive innate consumption.

I'll try and keep this brief. But what we commonly know as free trade is only part of an economic treatise popularized, though not originated by David Ricardo. There are two major tenet, trade under comparative advantage and trade under absolute advantage. For nearly 50 years B schools only taught the cliff notes version of free trade under comparative advantage and essentially ignored trade under absolute advantage, the latter simply because no one in the modern was supposed to be stupid enough to engage in trade with a partner with an absolute advantage. Hence the universities stopped teaching the entire theory and long ago stopped requiring students to actually read the entire treatise. So you have all these business, econ, and B school graduates touring a system the truly do not understand.

In short in many areas China has an absolute advantage. Hence tariffs are appropriate measures to take.

It is not fun to see my portfolio take a 300K hit in a few days, but we need to play the long game here. China is the enemy, they are not our friends or benefactors, they are the enemy.

Trump is right.
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#5 User is offline   Kilmerfan 

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Posted 09 May 2019 - 09:51 PM

"The clever combatant imposes his will on the enemy, but does not allow the enemy’s will to be imposed on him."
– Sun Tzu
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#6 User is online   zurg 

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Posted 09 May 2019 - 10:53 PM

View PostSeverian, on 09 May 2019 - 04:10 PM, said:

The people whining about this tough approach are idiots. The longer the uneven playing field between the US and China exists, the worse it gets for the US. These people are like someone who has an operable tumor that if allowed to grow will eventually kill them but are not willing to have surgery because the recovery will be painful and it hurts, wah. We've let this crap slide for far too long, and it will cause pain to force a change but be better in the long run. No one seems to be able to think beyond tomorrow anymore.

And, by the way, Trump is helping the rest of the world not called China as well.
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#7 User is online   Taggart Transcontinental 

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Posted 10 May 2019 - 06:36 AM

View PostSeverian, on 09 May 2019 - 04:10 PM, said:

The people whining about this tough approach are idiots. The longer the uneven playing field between the US and China exists, the worse it gets for the US. These people are like someone who has an operable tumor that if allowed to grow will eventually kill them but are not willing to have surgery because the recovery will be painful and it hurts, wah. We've let this crap slide for far too long, and it will cause pain to force a change but be better in the long run. No one seems to be able to think beyond tomorrow anymore.


The people whining the loudest are the globalist that have things to lose from the arrangement. This was nothing more than another way to slowly bleed the US dry. Both of money and jobs. Around where I live I see young black men working on building new homes. That's a great thing, it used to be hispanics working on one or two houses, now its young black men making that money and they are working on 6 or 7 houses right now expanding my neighborhood. That means those men are earning money instead of hustling for it. We need to keep this up until they can become independent strong men with homes of their own.
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#8 User is offline   RedSoloCup 

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Posted 10 May 2019 - 09:08 AM

View PostSeverian, on 09 May 2019 - 04:10 PM, said:

The people whining about this tough approach are idiots. The longer the uneven playing field between the US and China exists, the worse it gets for the US. These people are like someone who has an operable tumor that if allowed to grow will eventually kill them but are not willing to have surgery because the recovery will be painful and it hurts, wah. We've let this crap slide for far too long, and it will cause pain to force a change but be better in the long run. No one seems to be able to think beyond tomorrow anymore.


:exactly:
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#9 User is offline   Joe the Pagan 

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Posted 10 May 2019 - 11:50 AM

View PostTaggart Transcontinental, on 10 May 2019 - 06:36 AM, said:

The people whining the loudest are the globalist that have things to lose from the arrangement. This was nothing more than another way to slowly bleed the US dry. Both of money and jobs. Around where I live I see young black men working on building new homes. That's a great thing, it used to be hispanics working on one or two houses, now its young black men making that money and they are working on 6 or 7 houses right now expanding my neighborhood. That means those men are earning money instead of hustling for it. We need to keep this up until they can become independent strong men with homes of their own.


The method you are suggesting takes too long. The left believes they should go from an unskilled high school dropouts to president and CEO of a multinational corporation in one step.
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#10 User is online   zurg 

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Posted 11 May 2019 - 02:25 PM

Obviously the left have nothing here so the msm isn’t talking much about tariffs. Neither is anyone else, because it seems Trump is more right than wrong here.
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#11 User is offline   firecoco 

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Posted 11 May 2019 - 02:58 PM

View Postzurg, on 11 May 2019 - 02:25 PM, said:

Obviously the left have nothing here so the msm isn’t talking much about tariffs. Neither is anyone else, because it seems Trump is more right than wrong here.

It never stopped them before zurg...Just like no one is going to stop the Boston Bruins

:whistle:
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#12 User is offline   RedSoloCup 

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Posted 11 May 2019 - 04:40 PM

View Postzurg, on 11 May 2019 - 02:25 PM, said:

Obviously the left have nothing here so the msm isn’t talking much about tariffs. Neither is anyone else, because it seems Trump is more right than wrong here.


Why some_one is absent.
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#13 User is online   Taggart Transcontinental 

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Posted 11 May 2019 - 05:03 PM

View PostJoe the Pagan, on 10 May 2019 - 11:50 AM, said:

The method you are suggesting takes too long. The left believes they should go from an unskilled high school dropouts to president and CEO of a multinational corporation in one step.


You mean AOC?

https://iotwreport.com/wp-content/uploads/2019/01/Ocasio-Cortez-Crazy-Eyes-e1548443374540.jpg

This post has been edited by Taggart Transcontinental: 11 May 2019 - 05:06 PM

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#14 User is offline   GhostOfAndrewJackson 

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Posted 11 May 2019 - 07:03 PM

View PostTaggart Transcontinental, on 11 May 2019 - 05:03 PM, said:

You mean AOC?

https://iotwreport.com/wp-content/uploads/2019/01/Ocasio-Cortez-Crazy-Eyes-e1548443374540.jpg


That is one scary looking chick. I am amazed she is not a lesbian.

This post has been edited by GhostOfAndrewJackson: 11 May 2019 - 07:04 PM

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#15 User is offline   Severian 

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Posted 11 May 2019 - 07:29 PM

View PostTaggart Transcontinental, on 11 May 2019 - 05:03 PM, said:

You mean AOC?

https://iotwreport.com/wp-content/uploads/2019/01/Ocasio-Cortez-Crazy-Eyes-e1548443374540.jpg

Waaaay too much meth...
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#16 User is online   zurg 

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Posted 11 May 2019 - 10:48 PM

View Postfirecoco, on 11 May 2019 - 02:58 PM, said:

It never stopped them before zurg...Just like no one is going to stop the Boston Bruins

:whistle:

Just wait, just wait. The closer you get the harder you fall....
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#17 User is offline   RedSoloCup 

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Posted 12 May 2019 - 08:16 AM

View PostTaggart Transcontinental, on 11 May 2019 - 05:03 PM, said:

You mean AOC?

https://iotwreport.com/wp-content/uploads/2019/01/Ocasio-Cortez-Crazy-Eyes-e1548443374540.jpg


Could she be related to this other goofy broad?

http://peopledotcom.files.wordpress.com/2017/09/jennifer-wilbanks-1.jpg

This post has been edited by RedSoloCup: 12 May 2019 - 08:17 AM

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