Trump's Trade War

[Parliament 14593]

https://www.cnbc.com/2019/05/08/china-backtracked-on-nearly-all-aspects-of-us-trade-deal-sources.html

The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

[Longhornfan1024 1707]

40 minutes ago, Parliament said:

https://www.cnbc.com/2019/05/08/china-backtracked-on-nearly-all-aspects-of-us-trade-deal-sources.html

The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

How Trumpian of China to renege on their promises.

[happyfunball 481]

[Hugo Stiglitz 23367]

Years from now, I’m looking forward to learning about Trump using his tariffs to get foreign companies to give him kickbacks in exchange for tariff exemptions.  

It’s one of those, “I can’t really prove it, but I know it’s probably true.”

 

 

[Biff Tannen 46153]

6 hours ago, Parliament said:

https://www.cnbc.com/2019/05/08/china-backtracked-on-nearly-all-aspects-of-us-trade-deal-sources.html

The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

Could it perhaps be that the Chinese know he's a bloated piece of shit who doesn't back up anything he threatens and they are calling his fucking bluff?

[F250 29199]

26 minutes ago, Hugo Stiglitz said:

Years from now, I’m looking forward to learning about Trump using his tariffs to get foreign companies to give him kickbacks in exchange for tariff exemptions.  

It’s one of those, “I can’t really prove it, but I know it’s probably true.”

 

 

Tarrifs are a breeding ground for rent-seeking behavior, I would be shocked if Trump wasn't getting his beak wet.

[happyfunball 481]

[Hugo Stiglitz 23367]

1 minute ago, happyfunball said:

 

Translation:  “We are going to cut you off Trump from whatever we are doing for you.”

[6th Street 6687]

"Last quarter we said that barring any negative development on the trade front, we expected the March 2019 quarter to mark the bottom of this cycle for Microchip. Secondly, we said last quarter that we did not know the shape of the recovery and it would depend somewhat on the outcome of the trade talks. Towards that end, the U.S. did not get a settlement on the trade front. In fact, in recent days, the rhetoric has turned more negative with 25% duties on $200 billion of Chinese goods expected to go into effect this Friday. Therefore, the uncertainty related to U.S. China trade relations continues." Mr. Sanghi concluded, "Given the continued uncertainty, we expect weaker than seasonal business conditions for Microchip."

https://www.microchip.com/investor/Pressrelease/MCHP Announces Financial Results for Q4 and FY19.050719.pdf

[happyfunball 481]

No trade deal today
Economic warfare
Markets shit the bed

[retread 2951]

Just think of all the billion$ that China is going to be paying us. - Cheeto

[happyfunball 481]

Just think of all the billion$ that China is going to be paying us. - Cheeto

No fan of trump but people need to remove their Cheeto colored glasses and realize this is the right action

[Tailgate 3059]

I need two mint Mantle rookies for it

[BLKNSTY 289]

No fan of trump but people need to remove their Cheeto colored glasses and realize this is the right action

Curious to hear your opinion, what are your thoughts on Trump withdrawing from the TPP?


Sent from my iPhone using Tapatalk

[happyfunball 481]

Curious to hear your opinion, what are your thoughts on Trump withdrawing from the TPP?


Sent from my iPhone using Tapatalk

My focus past few years has been cross border M&A so I have a strong view.

The TPP was shit but what Trump negotiated unilaterally was less than what the TPP was promising so he achieved less.

With that said, I don’t disagree with blowing up TPP et al as these weren’t making changes that were needed but what Trump achieved was actually worse what was already agreed upon.

Agree with this strategy but his results were shit.

[Tyler Durden 132]

54 minutes ago, happyfunball said:

 

No fan of trump but people need to remove their Cheeto colored glasses and realize this is the right action

 

I assume he's making fun of Trump for not understanding how tariffs work as opposed to providing a substantive view on the issue.  

[Hugo Stiglitz 23367]

As far as Trump having a measurable impact on the majority of Americans’ pocketbooks, I’m not sure which screwed us over more, the tariffs or the tax cuts that weren’t tax cuts at all. 

Unless you’re wealthy enough to not care about the price of food, gas, or the other daily consumer goods, you are going to feel the squeeze Trump is putting on the American people. 

[happyfunball 481]

As far as Trump having a measurable impact on the majority of Americans’ pocketbooks, I’m not sure which screwed us over more, the tariffs or the tax cuts that weren’t tax cuts at all. 
Unless you’re wealthy enough to not care about the price of food, gas, or the other daily consumer goods, you are going to feel the squeeze Trump is putting on the American people. 

Stick to your Russian gate - you aren’t helpful in these threads.

[Hugo Stiglitz 23367]

23 minutes ago, happyfunball said:

Stick to your Russian gate - you aren’t helpful in these threads.

 

Brah, I’m all for turning the screws on China but this administration is going about it all wrong.  Going at it alone and all the uncertainty Trump has created surrounding the tariffs has inflated the prices of so much shit. Moreover, a lot of it has to do with the uncertainty and people trying to hedge their bets.  It sucks.

Edited May 10, 2019 by Hugo Stiglitz

[Revolution512 1517]

Meant to post this the other day

https://www.aei.org/publication/another-4-pinocchios-for-tariff-man-an-f-for-trade-101/

[happyfunball 481]

Brah, I’m all for turning the screws on China but this administration is going about it all wrong.  Going at it alone and all the uncertainty Trump has created surrounding the tariffs has inflated the prices of so much shit. Moreover, a lot of it has to do with the uncertainty and people trying to hedge their bets.  It sucks.

[Hugo Stiglitz 23367]

7 minutes ago, happyfunball said:

 

 

 

 

So you think this Trump trade war is winnable?  You think we’re going to come out ahead?  We are getting screwed six ways to Sunday and Trump is probably skimming off the top because you know he wouldn’t do any of this unless there was some $$$ in it for him. 

There are other ways to pressure China without starting a trade war.  

[happyfunball 481]

So you think this Trump trade war is winnable?  You think we’re going to come out ahead?  We are getting screwed six ways to Sunday and Trump is probably skimming off the top because you know he wouldn’t do any of this unless there was some $$$ in it for him. 
There are other ways to pressure China without starting a trade war.  

Direct confrontation is the only way the relationship will change. I don’t believe trump will “win” the trade war.

I’d expect this is a multi-year negotiations that could easily span multiple administrations.

Working through multi-lateralism wasn’t working. This will force companies to move operations out of China.

[4th&Five 41986]

 

[TornACL 7792]

I remain convinced that the single reason Trump is interested in the issue of trade with China is that it allows him to talk about BIG NUMBERS! which is one of his favorite pet things. 

500 BILLION DOLLARS

[Doc Sam Beckett 5902]

6 minutes ago, 4th&Five said:

 

 

Hide yo kids, hide yo wife, this smells like socialism!! 

[4th&Five 41986]

 

[DefinitelyNotHollywoodColt 12301]

11 minutes ago, 4th&Five said:

 

wut.

[retread 2951]

Seems like a problem if the negotiator in chief still thinks that China is paying us billions in tariff money. MAGA!

[High Plains Drifter 11186]

16 minutes ago, 4th&Five said:

 

 

Can somebody who speaks fluent moron translate this for me?

[Longhornfan1024 1707]

1 minute ago, High Plains Drifter said:

 

Can somebody who speaks fluent moron translate this for me?

He's trying to justify the fact that he's using taxpayer money to subsidize farming because he doesn't understand tariffs and his trade policies would bankrupt our farmers if not for a federal bailout.  

[TwiceHorn 32073]

2 hours ago, happyfunball said:

 

Direct confrontation is the only way the relationship will change. I don’t believe trump will “win” the trade war.

I’d expect this is a multi-year negotiations that could easily span multiple administrations.

Working through multi-lateralism wasn’t working. This will force companies to move operations out of China.

I think I agree with this.  It's extremely complex, but my sense is that the prior pussyfooting around China has let them get away with far too much. The only thing our trade policy with China in the last 20 years seems to have accomplished is to introduce a facially plausible patent and trademark system there.  But, ultimately, that was in China's self interest to do to attract business.

[Hugo Stiglitz 23367]

If you want to get China’s attention just give Taiwan a few nukes and see how long it takes them to come to the table.  

FTR, I’m only half serious.  I blame China for our North Korea problem. They could have easily prevented a nuclear peninsula but chose to do nothing.  Yes, butthurt. 

[Aqua Buddha 14804]

4 hours ago, 4th&Five said:

 

So, Trump started a trade war with China which hurts farmers so he puts them on welfare with money we're borrowing from China. 

Instead of profiting from ag trade with China, Trump has us paying interest to China while US farmers become dependent on the government because they're not selling product to China. In the meantime, China is finding new suppliers for their food.

Do I have that right....?

Edited May 10, 2019 by Aqua Buddha

[Hugo Stiglitz 23367]

19 minutes ago, Aqua Buddha said:

So, Trump started a trade war with China which hurts farmers so he puts them on welfare with money we're borrowing from China. 

Instead of profiting from ag trade with China, Trump has us paying interest to China while US farmers become dependent on the government because they're not selling product to China. In the meantime, China is finding new suppliers for their food.

Do I have that right....?

This is what happens Larry...

[elfenix 34746]

Quote

waiting for China to help out and start buying from our FARMERS

uh, china was.  problem was china was ripping everything else off. 

i assume even trump was aware of that for a while.  maybe not long.  maybe just two shakes of a lamb's tail. but aware. 

[happyfunball 481]

[Born to Run 6601]

So, Trump started a trade war with China which hurts farmers so he puts them on welfare with money we're borrowing from China. 

Instead of profiting from ag trade with China, Trump has us paying interest to China while US farmers become dependent on the government because they're not selling product to China. In the meantime, China is finding new suppliers for their food.

Do I have that right....?

And China is buying up are farmland as farmers go bankrupt.

[Pig Bellmont 8884]

2 hours ago, TwiceHorn said:

I think I agree with this.  It's extremely complex, but my sense is that the prior pussyfooting around China has let them get away with far too much. The only thing our trade policy with China in the last 20 years seems to have accomplished is to introduce a facially plausible patent and trademark system there.  But, ultimately, that was in China's self interest to do to attract business.

American business suffers and American consumers suffer due to tariffs. We’ve started to shoot the hostages and China is only going to escalate in retaliation. There is a reason this was shit policy abandoned for a century. If people think China will be seen bending in the face of pure aggression on the world stage, I have tuition in an online university to sell you

[4th&Five 41986]

 

[Longhornfan1024 1707]

lol.  Like that fool wrote that.  

[hayden_horn 11402]

trump really does not get it. he's trying to play hardball with Xi, when Xi doesn't care. he doesn't have to worry about any kind of reelection.

[tantric superman 4668]

5 hours ago, High Plains Drifter said:

 

Can somebody who speaks fluent moron translate this for me?

He's trying to get the Chinese to buy directly from the Fightin' Famers of Texum Aggies!

[Biff Tannen 46153]

3 hours ago, Pig Bellmont said:

American business suffers and American consumers suffer due to tariffs. We’ve started to shoot the hostages and China is only going to escalate in retaliation. There is a reason this was shit policy abandoned for a century. If people think China will be seen bending in the face of pure aggression on the world stage, I have tuition in an online university to sell you

So much this.  He's going to drive us into the ground.  Fucking.  Moron.  

[Hugo Stiglitz 23367]

We can only hope to offer a great cautionary tale for many many future generations. 

[Dbeasy 15575]

China needed to be confronted hard. Anyone who disagrees with that hasn’t spent time in China and doesn’t understand what they are systematically doing.

With that said, Trump’s execution on the issue is abysmal, just like North Korea. He should have gotten other world partners to take them on with us, while at the same time providing special incentives for U.S. companies to start building products in countries besides China. Hard ball is all the Chinese understand. Period.

[Bama Chick 28596]

I don’t pretend to be a world trade expert but I also know that the Chinese are also very, very sensitive about saving face.

They will not allow anything to happen that looks like bowing down to Trump and America.

[Dbeasy 15575]

I don’t pretend to be a world trade expert but I also know that the Chinese are also very, very sensitive about saving face.

They will not allow anything to happen that looks like bowing down to Trump and America.

Yup, he’s handling it in the worst way possible. All the hard ball must occur in the background.

[happyfunball 481]

I don’t pretend to be a world trade expert but I also know that the Chinese are also very, very sensitive about saving face.

They will not allow anything to happen that looks like bowing down to Trump and America.

This isn’t an issue as trump’s tweets regarding tariffs are being censored in China.

[Bama Chick 28596]

lol The Chinese government doesn’t worry about saving face in front of its citizens - as you said, the citizens know what the government wants them to know.

The Chinese government wants to save face in front of the rest of the world and other governments.