The trade and economy mega-thread (1 Viewer)

[superchuck500]

Is there a trade deal with China? Is it really a deal or just a pull-back to status quo ante? Is Trump advancing US interests in this well-executed trade battle plan or was this poorly conceived from the start . . . and harmful?

I think the jury's still out, but I haven't seen that the Chinese are offering much in compromise - and it's not even clear if there's going to be an agreement. But it's clear they are working on something and I'm sure Trump will sell it as the greatest trade deal ever. The proof will be in the details.

 

[longtime lurker]

so he spoke for 40 min and no one is really clear on who getting what other than effective midnight 25% on automobiles.

That was a tough listen….whew.

 

[UriUT]

That was a tough listen….whew.

 

[efil4]

That was a tough listen….whew.

i had to get back in office so i stopped at like 30 min- Yeah he is brutal to listen too. "Strongly" " the likes of which have never been seen" and he worse than my wife when it comes to numbers. Just makes up numbers that have no correlation to what he talking about.

The part on "1778 thru 1913 - when we were the richest nation on Earth" had me gigglin. Such a dope.

 

[efil4]

 

[DJ1BigTymer]

The part on "1778 thru 1913 - when we were the richest nation on Earth" had me gigglin. Such a dope.

Those were some great times! Genocide, slavery and Robber Barons ruled all!

 

[efil4]

 

[MT15]

The list is a joke. Just a complete clown show.

 

[MT15]

 

[RobF]

To be fair, the Heard Island and McDonald Islands are inhabited I believe... by penguins.

Not sure they were exporting much to the US though.

 

[UriUT]

Farmers are different from other Americans, however, in three ways.

First, farmers voted for Trump by huge margins. In America’s 444 most farm-dependent counties, Trump won an average of 77.7 percent of the vote—nearly two points more than Trump scored in those same counties in 2020.

Second, farmers have already pocketed windfall profits from Trump’s previous round of tariffs.
...

The leading study of these effects suggests that soybean farmers may have received twice as much from the Trump farm bailout as they lost from the 2018 round of tariffs, because the Trump administration failed to consider that U.S. soybeans not exported to China were eventually sold elsewhere, albeit at lower prices.

Third, farmers can better afford to pay the price of Trump’s tariffs than many other tariff victims.
...

Farmers can already obtain federal insurance against depressed prices for their products. Most farmers report low incomes from farming, but they have a high net worth. The median American farm shows net assets of about $1.5 million.

That’s not how it should work. What you serve to others you should eat yourself. And if rural America cannot choke down its portion, why must other Americans stomach theirs?

 

[Optimus Prime]

Former US president Ronald Reagan warned of a Donald Trump-style trade war tactic in a radio address nearly 40 years ago.

A video from Mr Reagan’s 1988 speech, focusing on Canadian elections and free trade, has resurfaced in light of Trump’s presidency and tariffs.

Mr Reagan used his radio broadcast to warn against “trade wars“ and beware of “demogogues who are ready to declare a trade war against our friends”.

The 1988 speech is in sharp contrast to Donald Trump’s stance with the use of tariffs. His administration has imposed 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China.…..

Ronald Reagan warns of Donald Trump trade war tactic in speech from 1988

Former US president Ronald Reagan warned of a Donald Trump-style trade war tactic in a radio address nearly 40 years ago. A video from Mr Reagan’s 1988 speech, focusing on Canadian elections and free trade, has resurfaced in light of Trump’s presidency and tariffs. Mr Reagan used his radio...

www.independent.co.uk

 

[nolaspe]

The list is a joke. Just a complete clown show.

'maga maths' for ya...

 

[nolaspe]

To be fair, the Heard Island and McDonald Islands are inhabited I believe... by penguins.

Not sure they were exporting much to the US though.

If those uppity elitist penguins can afford to wear tuxedos everyday, they can surely afford to pay tariffs, amirite?

Complete And Total Incompetence As Trump Slaps Tariffs On Penguins

The Trump White House announced tariffs on the Heard and McDonald Islands. The problem is that no people live there.

www.thedailypoliticususa.com

 

[longtime lurker]

Tomorrow will be a blood bath on the stock exchange. Trumps multiple bankruptcy’s should have been a sign he doesn’t know squat.

Dow futures tumble 1,000 points on fear Trump's tariffs will spark trade war: Live updates

Wednesday saw further volatility roil markets as tensions ran high ahead of Trump’s announcement, but stocks ultimately ended the session in the green.

www.nbclosangeles.com

 

[Maxp]

Please call your representative and senators tomorrow and scream your lungs off. This is the stupidest decision ever made by a president.

 

[nolaspe]

'Let's tariff the suckers and losers!'

 

[longtime lurker]

How can so many people watch this for “news” and not laugh themselves silly over insane takes like this:

Harris Faulkner torched over ‘ridiculous’ demand to treat tariffs like ‘war effort’

‘There is no reason to carry water for Trump on this nonsense,’ former Fox News contributor Jonah Goldberg reacted to Faulkner’s remarks

www.the-independent.com

 

[Poison]

It's times like this I wish my investment portfolio didn't have such heavy exposure to US stocks. Also, I don't understand what our brethren in the Norfolk Island (population: 2,188) did to warrant the imposition of 29% tariffs.

I suppose the one benefit from an Australian perspective is that it will accelerate our free-trade negotiations with the EU.