“China and the United States were moving towards an agreement to end a months-long trade war when, suddenly, it all fell apart this week,” James Griffiths writes for CNN. “Over the weekend, US President Donald Trump promised to raise tariffs on $200 billion of Chinese goods, sending markets plummeting and wrong-footing Beijing, which did not issue an immediate response and muzzled state media from reporting on the threat.”
“On Twitter, Trump accused Beijing of attempting to run out the clock on his administration in the assumption it will be dealing with a Democratic administration after 2020. Speaking at a rally in Florida later Wednesday, Trump said the new tariffs were because China ‘broke the deal,'” Griffiths writes. “‘The vice premier is flying in tomorrow, good man, but they broke the deal. They can’t do that,’ he added. ‘If we don’t make the deal, nothing wrong with taking in over 100 billion a year. We never did that before.'”
“In launching his trade war, Trump hoped to force China to further open its market to US exports, stop the forced sharing of intellectual property with China, and rewrite trade deals he said have unfairly benefited Beijing. To do so, he has launched an all out assault against the Chinese economy, massively ramping up tariffs on a large variety of goods and industries,” Griffiths writes. “Trump’s strategy is based on the fact that, as the US is the net buyer and China is the net seller in their trade relationship, Beijing will blink before Washington. The Chinese economy is also fundamentally more vulnerable than that of the US, and Chinese President Xi Jinping faces a host of political pressures that make a prolonged trade war difficult.”
“Trump has a habit of making policy on Twitter, but his pronouncements on Sunday did not come from nowhere. US officials told CNN that at the most recent round of trade talks in Beijing, their Chinese counterparts sought to renegotiate significant aspects of a prospective deal that the Americans felt were already wrapped up,” Griffiths writes. “It appears to be based on a misreading of statements and actions by Trump that he was concerned about the state of the US economy and would be willing to make concessions.”
“The assumption that this position of renewed strength would be enough to make Trump blink seems wildly miscalculated, however. Not only is the US economy not nearly as weak as some in Beijing appear to believe, this type of last minute renegotiation seems almost specifically designed to infuriate Trump,” Griffiths writes. “The US President has already shown himself willing to walk away from deals when they don’t go his direction…”
Read more in the full article here.
MacDailyNews Take: No pain, no gain.
The darkest hour of the night comes just before the dawn. — Thomas Fuller
Hopefully, this is the impetus that drives both sides to a comprehensive U.S.-China trade deal that works for both countries.
I’m cognizant that in both the U.S. and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced. My belief is that one plus one equals three. The pie gets larger, working together. — Apple CEO Tim Cook, March 24, 2018
The United States is insisting that all countries that have placed artificial Trade Barriers and Tariffs on goods going into their country, remove those Barriers & Tariffs or be met with more than Reciprocity by the U.S.A. Trade must be fair and no longer a one way street!
— Donald J. Trump (@realDonaldTrump) June 24, 2018
At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment. — Thomas Sowell, June 14, 2006
SEE ALSO:
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
“in the assumption it will be dealing with a Democratic administration after 2020”
Given the stupidity of the Dem candidates, this is highly unlikely. Although, the stupidity of the voters trumps all.
Agreed that some candidates are less than impressive, however one wonders why the Red Team can’t come up with a more capable negotiator in chief. For someone who MDN touts as a dealmaker, you can’t point to a single international deal that is holding. NOT ONE.
As for China folding — good luck. The USA may be a megaconsumer, but with only about 5% of the world’s population, China will easily find other buyers for their junk. You know it too.
Indeed the damage has been done years ago when the West thought they could get cheap products AND bring China into the capitalist fold no matter the longer term damage to their own economies and competitiveness that would potentially cause. And it has. The Genie has been let out of the bottle well and truly and China will play the longer game where they will have all the advantages and eventually a stranglehold on large areas of the world’s economy, 5g is but the first hint of this. Fact is Asia is becoming the major market place and this plays to China’s tactics, they may even give some way in the short term to let Trump to save face, even claim a supposed victory for his own audience’s consumption but by the time he’s gone it will be back on track as the importance of the west declines relative to their growth. As with other world conflicts he has taken on, history will judge if the bluster and self congratulation has any positive effect than encouraging his own electors.
As a man who has only actually made money as a businessman when partaking in a TV ‘game show’ where style over substance prevails then I guess he is treading a well worn trail. It’s the guy that follows that suffers the downturn of course whatever his/her abilities.
Rather than trying to score political cheap shots, what would you do Mike to solve the trade imbalance that favors China and has not been dealt with by presidents of both parties for decades?
Please read my post below on why the “trade imbalance” does not favor China as much as economic isolationists imagine.
The LeftTurd’s policy is nothing but socialism and gun grabbing. Real Americans are tired of their shit and stupidity. Trump will win in a landslide. Thanks Libturds!!
I am nowhere near the left, but as the rabid right moves further and further off the map, I have to point out the error of your thinking.
1) Socialism: despite your misconceptions, not all collective funding is bad or inefficient. No private enterprise could ever replace the US Military for example. Thousands of other examples exist. Instead of pasting labels, how about offering pragmatic solutions for your Big Bad Evil government to become more efficient?
2) Guns. As a hunter, I know very well the responsibility that comes with gun ownership and the many legitimate purposes they have. But let’s face it, the world today has many psychologically wacked people who cannot shoulder the responsibility. Moreover, as technology marches forward, the mass destruction that one bad apple can inflict has dramatically increased since the single-shot muzzleloader days of the Constitution’s writing. You and I should agree that some reasonable restrictions are needed, just as we need limits on most everything in order to restrain the extremists who wreck the world for the other 95%.
You could be reasonable — or you could just foment more partisan extremism like the board owner here loves.
Mike,
“… Moreover, as technology marches forward, the mass destruction that one bad apple can inflict has dramatically increased since the single-shot muzzleloader days of the Constitution’s writing.”
Given your argument, the first amendment only covers oral speech, quill pen and single sheet printing press. It does not cover technology including mass produced publications, radio, television, internet and ball point pen.
Only an idiot would think that increasing gun control will reduce violence. This country already has 21000 gun control laws.
The previous ban on so-called assault weapons failed because: 1 criminals don’t fallow laws. 2: there is no such thing as an assault weapon. 3: your hunting weapon is far more deadly than the ammo from so-called assault weapons.
Gun control only effects law abiding citizens. The locations the country with the most gun control have the highest violence. The locations in the country with the least gun control have the lowest violence.
Given your lack of comprehension on the gun issue, you have lost all credibility and there is no point continuing a conversation with you.
No Dan, Mike did not say that. You’re making up stupid arguments.
The Constitution set up a legal system that is not static. Laws resolve conflict in all the gaps the Constitution intentionally provided.
You can stamp your feet and declare infinite freedom is granted by each amendment of Constitution, but you would be wrong.
You will be prosecuted for falsely yelling Fire in a theater or carrying a bazooka in public. But you knew that.
whatever,
Its easy to see that reading comprehension and constitutional issues are not your strong points.
Problem is than extremists like Dan think that the rule of law is too inconvenient and are too drunk on their kool aid to understand the need for rules to be properly established, enforced, and judged.
Dan wants a big gun so he can be enforcer, judge, and jury with zero oversight. If all arms were allowed in anyone’s hands, when would the escalation stop????As soon as one gang gets significant automatic weapons, no gun in Dan’s arsenal is going to save him ans Seagal is too fat to take them down. Dan will have the choice to bankrupt himself building a bigger arsenal or go crying to government to ban the other guy’s scary weapons. The latter solution is the only logical one. But then, NRA extremists are not logical.
I am happy that Dan is not legally allowed to carry heavy weapons. Not because I am afraid of defending myself, but because Dan would simply be encouraging gun overproduction and desensitization of them. Look at the slippery slope of even greater senseless gun violence than the US already experiences. You’d think junk like bump stocks would be an easy thing to agree to eliminate, but Trump reneged on that promise too. I doubt bump stocks are what authors of the Constitution had in mind when they wrote their guide on how to prevent a president from acting like a king. Too bad Trump supporters don’t understand that either.
You missed a zero – 210,000. 😉
You are absolutely correct citing all your gun points. The only people that day after day don’t get it live on the left side…
“Given your argument, the first amendment only covers oral speech, quill pen and single sheet printing press. It does not cover technology including mass produced publications, radio, television, internet and ball point pen.”
Thank you for exposing your vivid imagination. Let’s review that First Amendment:
“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”
As you can see, it is a limitation on the power of Congress. It does not prohibit the individual states or communities from creating laws that manage these things — you know, so that I am not free to establish my Religion of the Burning Spear and express my free religion by burning down your church as a sacrifice to my superior SuperGod. Without your pesky laws, my pyromaniac religion could be a very hot trend.
On to Amendment Numero 2:
“A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”
As you can see, this amendment limits all levels of government and it lets people keep their firearms in their own homes, which was not always common at that time. Back in the day, only highly trained Minutemen carried guns with them 24/7. The common militias of the colonial period kept all weapons secured in blockhouses. If you read history, you would understand this important distinction of what is meant by “keep” and “bear”. Note that it does not say “manufacture” or “own” — subsequent interpretation and law actually established that. In the modern day: as the reasonable person would admit, there is nothing in the Constitution that decrees that government cannot restrict the manufacture and sale of firearms, require training with each firearm purchase, or a whole host of common sense measures that actually do reduce crime and gun violence.
It is completely illogical that the addition of greater numbers of increasingly sophisticated firearms will magically result in the best and most effective of those weapons migrating into the hands of well trained White Knights who never make mistakes and always hit their targets and are never taken by surprise. It is logical that increased gun owner psych evaluation and gun control training WOULD allow good gun owners to gain the upper hand to help reduce violence. But you don’t want to talk about that do you?
Could this be because gun violence reduction is not your primary goal? You have no answer to the Las Vegas mass shooter, you just accept that is okay. If your primary goal is to own guns without any personal responsibility or limitations of any kind, no matter how many innocent people die or how many trillions of dollars taxpayers spend on security theater inside every public building now. How you use them outside your home however is everyone’s business, and therefore the business of the people’s representatives. Until you recognize that, we cannot have an intelligent conversation can we?
Be sure to return all your Made in China weapons and ammo, or you will not pass the party acid test. I certainly hope the rifle rack in your truck isn’t made overseas, that would be disgusting.
“I am nowhere near the left.”
Right, same as TxUSER…
🤣🤣🤣🤣🤣🤣🤣🤣
To someone who regularly demonstrates his world view is right of Russia, everyone appears to be a flaming liberal.
I would expect no less from emoji man GoeBer.
Unfortunately, the headline also could be “U.S.overplayed its hand with China with president Trump on trade, and it could cost them dearly”.
It’s far from clear whose long term hand is stronger.
Actually, to anyone who can do simple math, the advantage is massively tilted to the U.S., but thanks for playing.
The tariffs are not the end game. They are bargaining chips and, due to the trade imbalance, the U.S. has 376 billion more chips with which to play than China ($506B – $130B)… China’s running out of chips already. This initial negotiation phase too shall pass. The end result will be better than the starting point.
MDN (08/07/18)
… and you haven’t even done simple math, First Idiot. You choose, as always, to regurgitate isolated references for your partisan propaganda campaign. Instead of referencing official trade statistics in context, you focus on how much Americans outlay in cash while ignoring the goods and services they receive.
Relative size of the economy is irrelevant — in fact, if you wanted to be honest about America’s financial health, you would take into account the massive debt load building at unprecedented peacetime rates. You never want to deal with that, do you?
If you want “balanced trade” for some unspeficied reason, in the ridiculous goal that the sum total of one country’s cash outlay can never differ from the other’s — and why is this important ???? — then the only easy non-draconian way to actually accomplish this is to ban the use of cash and demand that all international trade be conducted on a barter system. Then the flow of goods would meet your desires without massive government intervention in the markets. It would also accomplish another unstated goal of yours: elimination of financial markets to return to the feudal era when cash wasn’t a tool that the common peasant could use. Bartering is better to the simpleton who can’t understand higher math — that would be you.
Remember when you used to believe in government staying out of private enterprise? Now you are proud of taxation on Americans to penalize them for paying money to buy products like Apple stuff . You call it patriotism. Well if you are so patriotic, how about balancing the budget and paying off decades of debt that is sinking the prosperity of the US by degrees?
Polite applause.
As usual, ignorance comes spewing forth from a Trump supporter. As ignorant as the people Trump has running his economic policies.
There are many reasons the trade deficit exists, but the primary one is that the US gov’t runs persistent fiscal deficits (massively larger under Trump), which need to be financed somehow. In the absence of American savers buying that trillion dollars a year of treasury notes (and Americans can’t save thanks to other stupid govt policy that makes basic things like staying healthy and alive unaffordable), that financing comes via currency adjustments and trade, with the dollars paid by American consumers reinvested by foreign central banks into American debt. If you actually achieved an elimination of the trade deficit, the US treasury would become insolvent in a week without massive tax increases or budget cuts.
As for China, the fact that they don’t have to finance debt with foreign money makes them very free to hold out. Their debts are internal and mostly priced in local currency, so the Chinese get much more impact from adjusting monetary policy to support their economy.
Ok, let’s go through this again. There are a lot of problems in China-US relations, but this so-called imbalance is at most a minor issue. Using your figures, we paid $506B in cash for $506B in goods and services. They paid us $130B and received $130B in American goods and services. Both sides in each of these transactions signed the deal because they thought it was to their own economic advantage. When it was through, US parties had $506B in goods and services that they didn’t have before and that they thought were worth the price. The one-sided flow of cash did not reflect an imbalance in value received.
.If you choke off the bilateral trade entirely by imposing tariffs or import restrictions, China will suffer to the tune of up to $506B in lost cash revenues, but the US trading parties will suffer an equal loss in lost goods and services. They will also lose all the value that they expected to generate by reselling the Chinese items at a profit or by incorporating Chinese components into their products. That being the case, the advantage is not at all “massively tilted in favor of the US.” If Americans did not value the Chinese goods and services more than they valued their cash, they wouldn’t have entered into the deals in the first place.
Tariffs are a tax on the American people. Estimates are that steel tariffs cost $900,000 for every job created and further tariffs will decimate the retail industry. Good job Trump.
Temporary negotiating tactics are, by definition, not permanent situations.
Too many are concerned with ‘how is it going to hit my pocketbook today’ rather than how it will affect the nation for 20-40 years.
This is the shortsightedness the Democrats prey upon.
If the former presidents and administrations didn’t allow this situation happened over many decades ago, we are not in this current situation today, We didn’t study how great Chinese business minds and and enterprises are. The China is stronger and stronger and has the upper-hands. as time passes. We underestimated the commie China, The Chinese is very good at businesses and enterprises. A lesson to learn for us.
“This is the shortsightedness the Democrats prey upon.”
Just stop with this sort of drivel. Both Democrats and Reppublicans think that way. And believe it or not, there are some Democrats, or leftists, or fags, or commies that are hard on crime.
Trump cannot negotiate his way out of a paper bag (please re-read articles about his negotiating skills with North Korea, or his billion dollar losses in business deals) therefore it is realistic to think that many people from all walks of life are worried about their pensions and life savings. Especially when Comrade Trump is leading the charge.
You and that flaming haemorrhoid (First 2014, Then 2016) should cool it with being sycophants at all costs.
Polite applause.
T-Tone; I think it’d be advisable to add the “R” to the group that “prey upon.”
As a conservative, I can’t see the Repubs doing anything materially different re: fiscal matters. There was a time when it was a “R” distinction, but sadly, it’s only residue that remains.
Great negotiating tactic……
Knock knock.
(Man answers door). Hello.
(Traveling Salesman) Good day sir! I am here to introduce you to my knockoff Acme Widgets, now a special promotion for $5 each!
Man: I’ve seem those before. They aren’t as good as the $8 US-Bilt heavy duty widgets.
Wifey, stepping next to her hubby: Oh I like the colors though. Can’t we get some Honey?
Salesman: We have 4 colors and the US company only produces one. How about $4.50 each if you buy all 4?
Wifey: Oh we have to buy it! I can’t wait to post this on my social media timewaster ego feed!
Man: Well gosh that is wasteful, but I know we can’t pass up a cheap gadget.
Salesman: Excellent! How many would you like?
Man: I’ll take as many as you have, but Wifey, you have to pay me a 25% markup because I am penalizing the salesman for undercutting the price and quality of the company I want to succeed.
Wifey: Oh lovely you are so smart, Honey! Let me get my credit card!
Are those “estimates” from the same types who “estimated” that by now we’d be seeing our 15th Time Magazine cover story puff piece on the first woman president and her first husband?
But hillary. Desperation writ large.
Hey. Buffetts top financial guy says trump really hasn’t done anything to create this strong economy. he is just along for the ride.
https://finance.yahoo.com/news/charlie-munger-trump-120000112.html
Liberals are so smart. They know everything.
LOL. So that’s your final answer.
Of course.
Obama couldn’t have been a bigger fool in that video. What a feckless waste of 8 years!
Not quite. He did spend 6 years in a divided government (a stable situation normally) but had to contend with Obstructionist Turtle McConnell, whose open goal was to ensure Obama would be a 1 term president and sign no meaningful legislation. For 6 years the Republican led congress offered no reforms, no spending cuts, and no efficiency improvements or pragmatic bills of any kind for Obama to sign. It’s awfully rich to blame Obama for all things when the purse strings were held by the GOP.
Trump was handed one-party rule in DC and his big accomplishment was to give his billionaire campaign funders a massive tax break — while offering citizens a much smaller temporary tax cut. Then Trump went golfing and hasn’t done a damn thing for anyone else since.
The sabre rattling from the revolving door Trump White House has accomplished nothing. China is unfazed. North Korea openly continues its missile program. Iran is finding new buyers for its oil. Saudi Arabia continues its murderous and corrupt ways. Russia continues its cyber warfare with impunity — actually, with tacit approval from Trump. Your stock market savings is hanging in the balance while blind Trump staggers around shadow boxing with a sharp sword. Can you not see the ineptitude he displays with every speech and tweet? Really?
@Mike: You’re forgetting that Trump did accomplish something: flooding the federal courts with incompetent extremists who now have lifetime appointments to ruin American freedoms. He and his idiot followers have put in place a system that will hurt people for decades, long after he is dead and gone.
Mike,
Which part of three co-equal branches of government do you not understand?
Obama spent 6 of his 8 years in a divided government because the voters wanted it that way (see: Obamacare fallout). The voters wanted to feel good about electing the “first black president,” but they didn’t want to give him the keys because he was a screwball freshman senator community organizer who didn’t and still doesn’t understand even basic economics.
Obama’s votes aren’t worth more than the votes that elected a Republican majority congress for 6 of his 8 years. If the voters didn’t not want the checks on Obama, they could’ve given him more Pelosi/Reid stupidity. That they did not tells thinking people all they need to know about Obama and his policies.
More fairytales from stuck in 2014.
So America elected a president as a clown car joke. just because it would be fun. Twice. Vote and Electoral College.
Overwhelmingly.
Have you heard how pathetic and desperate your hate is?
Seriously. Have you even heard yourself and how low you will go to justify the incompetent clown occupying the white house.
Polite suppository up my clacker
“Which part of three co-equal branches of government do you not understand?”
Well I don’t understand why everything that you like is Trump’s personal accomplishment (at least according to lie-a-second Twitter), and everything that goes badly is the result of someone from the Blue Team that hasn’t been relevant in years.
I don’t understand why Trump can’t nominate department officials and the Republican-controlled Senate can’t confirm them.
I don’t understand why a president so concerned about murders and rapists can’t appoint a head of Homeland Security.
I don’t understand why current Republicans ignore former party principles to embrace corrupt practices and yes, obstruction of justice.
I don’t understand why deficit and debt and spending, which are massive fear issues for Republicans when they are campaigning, are suddenly ignored when they enter office.
I don’t understand why common decency and honesty is not important to the Trump base.
I don’t understand why you can pretend that co-equal branches of government was the only intent of the Constitution while pressing incessantly for a single party rule of them all.
I don’t understand why you are happy to have an executive that can willfully ignore the representatives of the people in Congress, one that directly attacks principles of the Constitution (Freedom of Press for one), who has multiple foreign entanglements and if recent reports are any indication, a long history of massive tax fraud.
I don’t understand how you can trust a guy with no military experience and no penchant for learning to keep the nation safe from foreign enemies when he can’t even old down a Secretary of Defense for more than a few months at a time. Trump publicly claimed he listens to no security briefings from his own government – now going through the motions to keep up appearances though. He allows Russia to drive refugees out of Syria, destabilising Europe and the Middle East. Trump allows Saudi Arabia to flaunt international law and conduct illegal war. Trump sends US military assets to sabre rattle with Iran when there is no direct threat there while N. Korea is actively shooting missile tests. China and Russia conduct electronic espionage with impunity, Trump actively questioning the FBI about their competence and preventing congressional security councils from seeing complete details of key reports — all while doing nothing to stop future interference. One cannot imaging a more obvious stooge to foreign money.
Go ahead and harp on everything you don’t like about Obama, the fact remains that the current administration has accomplished nothing that puts the US on a long term path to peace or prosperity.
I have said before and I will repeat again: I have never defending the dumbocrats. As an independent, I look with pity on idiots like First Whatever who have nothing to do that to sling mud for a political party. It is much more important that independents like myself point out corruption, miscarriage of duty, and obvious mismanagement when we see it. Whatever prompts you to blindly praise all things Trump and dump scorn on all things Not Trump is truly pathetic. You don’t care about America. You care only for your party, no matter how inept and corrupt it becomes.
America more than ever needs a leader like Teddy Roosevelt or Ike Eisenhower: honest, steady, long term view, and willing to make wise reforms using ideas from all parts of the political spectrum. Those guys used to be considered moderately conservative in their day. Today you’d label them flaming liberals. You partisan Trumpanzees, even worse than the many dumbocrats with good intentions but zero practical ideas, lead life with blinders on.
First Idiot whips out the “what about” argument! Well that is precious, considering you cheer incessantly for the most obvious media whore who ever occupied the White House. Trump would never grace a magazine cover, would he? Or marry anyone whose profession was literally to bare her flesh to sell magazines — overstaying her work visa to keep doing so in NY?
Pot, meet kettle. At least the politicians you vehemently hate actually write their own books which, yes, make them rich — something you apparently resent despite claiming to love free enterprise.
What other evils does the Blue Team do similar to the Red Team that you want to hypocritically criticize? Should we compare days on the golf course? Time usage of Air Force One? Total days vacation? Size of budget deficit? At some point you are going to have to wake up and realize that your hero is a con man, and he doesn’t stack up with minimal acceptable performance on a huge number of issues and objective measures.
Remove your partisan blinders, you fool. The founders wanted checks and balances, not one-party rule with a wannabe-monarch flouting the Constitution at every turn. The current POTUS talks and acts like he’s a Chinese Premier of a one-party state rather than a temporary (by Constitution!) limited power (by Constitution!) executive whose primary mission (by Constitution!) is not to promote his party and hold rallies, but to uphold the laws enacted by the People’s Representatives. This POTUS can’t even work with the congressmen of his own party to get spending under control, let alone execute efficient use of resources. But he has plenty of time to golf at his private resorts several times a week.
who do you believe, the Chinese, or the guy who is ALWAYS lying?
You probably shouldn’t trust either one
Thank God Trump is in office!
God is crying. That’s why the American midwest is under water.
Who pays that $100 billion?
Not the Chinese. It’s US businesses and consumers.
It is a little surprising to see someone who calls himself Republican celebrating $100B in additional US taxes on American companies and individuals.
Sheesh, kommie pinko China leadership. I’d trust old panda xi as far as I could throw a panda. Hey, kommie pinko panda xi, take that, you socialist communist jerk.
Oh, and any of you kommie loving mainland, or even Hong Kong, Chinese, just try writing what you really feel about old panda boy. See what happens.
Grow up.
Trump/US should move to eject China from the WTO. China has been an unscrupulous trader for quite a long time. They steal IP from everyone. Have not been a good trading party with anyone. They do not respect nor move their tariffs to near reciprocity as mandated by the WTO. Time for them to get kicked out.
EXACTLY!
I blame Tricky Dick Nixon and Didn’t Inhale Slick Willy Clinton for enabling normalized trade with Communist China.
Sorry if that is too partisan for you, First Idiot and MiniMe Goebbels..
Apple down 16 dollars since Friday, largely because of his dumbness in the W.H. can’t wait for those Tax returns to be made public.
Like you couldn’t wait for “Mueller Time.” (sound of nothingburger going “poof!))
First Idiot didn’t read the report and apparently doesn’t want his representatives in Congress to see exactly what Russian meddling occurred.
Over 30 Witches indicted, including several direct staff to His Excrememcy Trump. Obstruction of Justice documented on at least 10 occasions.
Trump is as corrupt as Nixon only less informed. You’d have to be blind as a bat to not see that.
Mike,
You exhibit extraordinary strong Dunning-Kruger Effects. Look it up and get some help. Also, sue your school.
Dan,
Your pathetic ad-hominem is noted.
Nixon was many things but he wasn’t dumb.
Drunk then?
What possible purpose did it serve for the USA to legitimize and empower another dictatorial communist regime while sending tens of thousands of US soldiers into battle under the pretext to stop the expansion of communism?
It’s obvious why every president since the 1970’s turned a blund eye to Chinese trade violations—because their corporate handlers profited mightily from the cheap labor. Multinational corporations have no national pride.
In ‘72 Nixon got nothing but a parade and a photo op. He “opened China” for business without bothering to establish fair trade rules. Right wing hypocrites have been profiteering while decrying US downfall ever since.
The gentry (corporate) class and the anti union people want cheap labor.
It is interesting to see MDN and its alt-right trolls cheer Apple’s every short term corporatist move — including exploitation of overseas tax havens (Apple is the biggest company in Ireland despite having zero retail stores there and zero manufacturing there), cheap Asian labor, and so forth.
Now the same bobbleheads that cheered for US corporate tax breaks are also cheering for the working classes of the US to pay import duties (25% tax increases) with no recourse except to petition Trump for special exemption, tin pot dictator style.
These bobbleheads accept the lies and hypocrisy because to them facts don’t matter. Just as they don’t have the balls to ask their president to simply prove he isn’t a tax cheat and massively indebted to foreign entities with a simple release of tax returns, they also haven’t bothered to reinforce the wisdom of their Orange Hero’s uncoordinated policy by offering a list of large US companies that have suddenly seen the light and relocated significant production back to the US. Nope, the tax cuts went straight to corporate stock buybacks. Nobody in their cushy corporate headquarters is shuttering their Chinese factories. US automakers on the other hand, are closing US plants.
No matter, they say. You can always become an uber contractor with zero benefits and a net $5/hour income if you need more money to feed your family. Ain’t it great?
You make a lot of statements that are totally incorrect/flat out false.
For example: “Apple is the biggest company in Ireland despite having zero retail stores there and zero manufacturing there.”
Apple operates a 4,000+-person factory in Cork, Ireland, that builds iMacs.
As for Apple-owned stores, Ireland is sufficiently served through premium resellers without Apple having to do the very-expensive exercise of setting up here, plus there’s also little incentive in installing a flagship store for the Republic as a brand-building exercise as figures show Irish people are already among the most-eager consumers of Apple products.
https://www.thejournal.ie/apple-store-ireland-1999423-Mar2015/
For those Trumpanzees who have bought into the rhetoric that everything should be treated as a “deal” and people affected by that should just accept their roles as negotiating pawns, a little more perspective is in order:
1) The Chinese believe, like the Americans did in 1900, that world preeminence is their destiny. They are playing a much longer game than the short-sighted Wall Street led US does.
2) China has over 4 times the population of the US and is growing twice as fast, especially now that the USA has chosen to severely restrict immigration.
3) Xi Jinping announced a Made in China:2025 initiative. It is essentially a recognition of economic war with the West. China will use every tool possible – ethical or not — to achieve technical equivalence or superiority with the West. It will have an unparalleled manufacturing base and will cease to be reliant on US consumer purchasing.
4) China is quietly establishing itself as a military superpower that will soon challenge the abilities of the relatively isolated oil-addicted US.
5) China believes that the US engineered the Japanese economic implosion and therefore has been taking steps to ensure it is economically insulated from any US influence, including tariffs.
6) China has spent years blanketing the West with anti-WTO and anti-diplomacy propaganda so that it can make natural resource grabs around the world with impunity as the West bickers amongst itself.
7) The US has continually piled up debt since the postwar years, and it is compounding. This lack of fiscal restraint is a large contributor to the downfall of every strong nation before it.
8) China knows that internal bickering inside the US is key to ensuring that infrastructure falls apart. China will leapfrog the US by becoming the dominant force in new tech — and of course US electronics firms like Apple were willing participants in handing China all the tech they need to do so, in exchange for cheap labor. Tomorrow China will ratchet up prices and the US will have neither the trained people nor the factories to replace the industrial capability that was given away by US corporations.
… and now Trump thinks the answer is to start a one-on-one trade war? No US company of any size is prepared for this. If China slapped a large tariff on Apple, it would take years for Apple to relocate its manufacturing closer to its worldwide customers. “Liberals” and “socialists have been saying that it’s a good investment to diversify manufacturing locations all over the world, but the retweets from the Trumpanzee crown just want Apple to magically set up a factory only in the USA, overnight. Also, hire and train America’s youth to do something besides “gig economy” services. News flash: that takes years if not decades, not a half hour of Apprentice rerun time.
I’d have much more confidence in the president’s trade policies if just once he said something about tariffs that led me to believe he understands how they work. As recently as last week, the president said China is paying the tariffs, when in reality, tariffs are paid by American consumers. When the president brags about our government’s coffers filling up with tariff payments, he seems to think that’s a good thing. However, if the tariffs were doing what they’re supposed to do, the coffers would be emptying out, not filling up. Tariffs only work if American consumers choose to buy American goods rather than pay extra to cover the cost of the tariffs on imported goods. The more tariffs we collect, the bigger the failure of the tariffs.
I agree, Obama was a clown, elected TWICE! Sad.