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Trump's Trade Wars - another disaster

POSTED BY: CAPTAINCRUNCH
UPDATED: Tuesday, January 14, 2020 13:43
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Monday, December 16, 2019 7:57 PM

SECOND

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly


How Trump lost his Trade War by speaking loudly and carrying a small stick.

Trade wars rarely have victors. They do, however, sometimes have losers.

Of course, that’s not the way Trump and his team are portraying the tentative deal they’ve struck with China, which they’re claiming as a triumph. The reality is that the Trump administration achieved almost none of its goals; it has basically declared victory while going into headlong retreat.

And the Chinese know it. As The Times reports, Chinese officials are “jubilant and even incredulous” at the success of their hard-line negotiating strategy.

To understand what just went down, you need to ask what Trump and company were trying to accomplish with their tariffs, and how that compares with what really happened.

1) First and foremost, Trump wanted to slash the U.S. trade deficit. In Trump’s mind countries win when they sell more than they buy, and nobody is going to convince him otherwise. So it’s remarkable to note that the trade deficit has risen, not fallen, on Trump’s watch, from $544 billion in 2016 to $691 billion in the 12 months ending in October.

2) Trump’s team also wanted to put the brakes on China’s drive to establish itself as the world’s economic superpower. “China is basically trying to steal the future,” declared Peter Navarro, a top trade adviser, a year ago. But the new deal, while it includes some promises to protect intellectual property, leaves the core of China’s industrial strategy — what’s been called the “vast web of subsidies that has fueled the global rise of many Chinese companies” — untouched.

3) Although Trump has repeatedly insisted that China is paying his tariffs, the facts say otherwise: Chinese export prices haven’t gone down, which means that the tariffs are falling on U.S. consumers and companies. And the bite on consumers would have gone up substantially if Trump hadn’t called off the round of further tariff increases that had been scheduled for this past Sunday.

4) Finally, uncertainty over tariff policy was clearly hurting manufacturing and business investment, even as overall economic growth remained solid. www.investors.com/news/economy/ism-manufacturing-index-10-year-low-chi
na-trade-war-takes-toll
/

Trump basically declared victory and retreated.

Will Trump’s trade defeat hurt him politically? Probably not. Many Americans will surely buy the spin, and the trade war was never popular anyway.

More at www.nytimes.com/2019/12/16/opinion/trump-china-trade.html

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly

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Monday, December 16, 2019 8:40 PM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.


As if NAFTA, CAFTA, SHAFTA were so great.

You don't care that people are getting the shaft, as long as democrats are doing it.


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Thursday, December 19, 2019 11:50 AM

THG


T

Deep state describes dedicated, educated professionals.


`Band-Aid' China Deal Makes Trump Vulnerable to Democrats


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Thursday, December 19, 2019 4:46 PM

THG


T

Deep state describes dedicated, educated professionals.



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Thursday, December 19, 2019 5:12 PM

6IXSTRINGJACK

[/i]


You goofballs are funny.

Can't even take a single day to celebrate a victory, no matter how empty and worthless it was.


I guess we're right back where we started, just like I said we would be.

Enjoy 5 more years of Trump. I know I'll enjoy 5 more years of calling your bullshit.



Do Right, Be Right. :)

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Saturday, December 28, 2019 10:32 AM

THG


Fed study: Trump tariffs backfired, caused job losses and higher prices

President Donald Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices, according to a Federal Reserve study released this week.

“We find that the 2018 tariffs are associated with relative reductions in manufacturing employment and relative increases in producer prices,” concluded Fed economists Aaron Flaaen and Justin Pierce, in an academic paper.

While the tariffs did reduce competition for some industries in the domestic U.S. market, this was more than offset by the effects of rising input costs and retaliatory tariffs, the study found.

“While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector,” the study said.

https://www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfi
red-2019-12-27


Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary A?airs Federal Reserve Board, Washington, D.C.

https://www.federalreserve.gov/econres/feds/files/2019086pap.pdf

Here you go Jack. Of course none of this will matter to the Trumpets. To them this will be more fake news.



T

Deep state describes dedicated, educated professionals.

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Saturday, December 28, 2019 10:37 AM

THG


Trump's Trade Wars - another disaster

Wednesday, July 25, 2018 2:35 PM

CAPTAINCRUNCH

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary A?airs Federal Reserve Board, Washington, D.C.

https://www.federalreserve.gov/econres/feds/files/2019086pap.pdf

Here you go G. You called this in real time.

T


Deep state describes dedicated, educated professionals.

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Saturday, January 4, 2020 9:48 AM

THG


T

Deep state describes dedicated, educated professionals.

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Saturday, January 4, 2020 10:07 AM

6IXSTRINGJACK

[/i]


Quote:

Originally posted by THG:
T

Deep state describes dedicated, educated professionals.



Racist.

Do Right, Be Right. :)

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Tuesday, January 14, 2020 1:01 PM

SECOND

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly


Quote:

Originally posted by 1KIKI:
As if NAFTA, CAFTA, SHAFTA were so great.

You don't care that people are getting the shaft, as long as democrats are doing it.

Based on data from China, the US trade deficit with China continued on the same trendline it has followed the eight years since the end of the Great Recession.

The thing to notice here is that 2018 was much worse than normal. In 2019, all that happened is that our trade deficit with China returned to normal, which means ever increasing. The data here suggests that Trump’s trade war has accomplished nothing in terms of lowering the trade deficit with China.

The chart showing Trump's total failure is at
www.motherjones.com/kevin-drum/2020/01/the-us-trade-deficit-with-china
-returned-to-normal-in-2019
/

Don't worry if you can't understand it, 1kiki, because Trump will be bragging very soon about the total success he had negotiating with China, while the actual policy is a total fiasco: Trump’s Supporters See U.S. Victory in China Trade Deal. The president says his “big, beautiful” trade deal is a win for America. His supporters agree.

President Trump’s supporters nodded approvingly last week as Mr. Trump extolled the “big, beautiful monster” of a trade deal that he will sign with China on Wednesday.

The enthusiastic group, gathered at Toledo’s Huntington Center, nodded again as Mr. Trump insisted that America’s farmers, who have been hurt by the trade war with China, were winners and as he asserted, incorrectly, that American importers were not paying for the tariffs.

“And now the deal is done,” Mr. Trump said.

The packed arena roared triumphantly. (What a herd of morons.)
www.nytimes.com/2020/01/14/us/politics/trump-china-trade-deal.html

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly

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Tuesday, January 14, 2020 1:43 PM

THG


Quote:

Originally posted by 6IXSTRINGJACK:
Quote:

Originally posted by THG:
T

Deep state describes dedicated, educated professionals.
]

Racist



You really don't know much about anything do you Jack?

Chinese dragons are powerful and benevolent symbols in Chinese culture,
with supposed control over watery phenomenon, e.g.
summoning rain during a drought. Dragons are everywhere in China —
in legends, festivals, astrology, art, names, and idioms.

https://www.chinahighlights.com/travelguide/article-chinese-dragons.ht
m


T


Deep state describes dedicated, educated professionals.

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