The trade and economy mega-thread (6 Viewers)

[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.

 

[MT15]

The markets are betting Trump won’t go through with his tariffs. I think that’s a good bet, but not a lock. He could get a wild hair and burn everything down because he’s mad about TACO just as easily as he could back out. I guess we will see.

 

[Optimus Prime]

The cost of toys and games is rising at a record rate as the industry begins to feel the impact of President Donald Trump’s tariffs on China.

While inflation held steady last month at 0.1 percent, the price of toys, games and playground equipment saw a rise of 2.2 percent between April and May, according to figuresfrom the Bureau of Labor Statistics.

The latest figures capture the period after Trump unveiled his global reciprocal tariffs in April, and while the full impact is yet to appear in the data, experts say it’s a gloomy indication of what’s to come for the toy industry.

After months of back and forth, tariffs on Chinese imports – which at one point rocketed to 145 percent – are currently at 30 percent until mid-August.…….

Toy prices rise at record rate as Trump’s tariffs on China hit industry hard

Experts say the figures give a gloomy indication of what’s to come for the toy industry

www.independent.co.uk

 

[efil4]

According to Trump this afternoon, while speaking at some WH event, he said " we signed a deal with China yesterday"

LOLOLOL




That would have been PLASTERED ALL OVER THE TV/Social Media soon as it was done.

‘They are going to stabilise this’: US-China trade deal is near, expert says

Former US official Graham Allison says memorandum of understanding between two sides could come as early as next week.

www.scmp.com

Its a Memorandum of Understanding -

Memorandum of Understanding (MOU): Definition, Contents, Pros/Cons, vs. MOA

A memorandum of understanding (MOU) is a document describing the broad outlines of an agreement that two or more parties have reached.

www.investopedia.com

 

[efil4]

According to Trump this afternoon, while speaking at some WH event, he said " we signed a deal with China yesterday"

LOLOLOL




That would have been PLASTERED ALL OVER THE TV/Social Media soon as it was done.

‘They are going to stabilise this’: US-China trade deal is near, expert says

Former US official Graham Allison says memorandum of understanding between two sides could come as early as next week.

www.scmp.com

Its a Memorandum of Understanding -

Memorandum of Understanding (MOU): Definition, Contents, Pros/Cons, vs. MOA

A memorandum of understanding (MOU) is a document describing the broad outlines of an agreement that two or more parties have reached.

www.investopedia.com

 

[Optimus Prime]

Nike has said it expects costs to increase by about $1bn (£728m) as a result of Donald Trump’s tariff war as the sportswear company looks to reduce its manufacturing in China.

The market value of the company has dropped by a third over the past year and it is taking action to reduce the hit, including increasing prices in the US and sourcing from other countries.

“These tariffs represent a new and meaningful cost headwind,” said Matthew Friend, Nike’s chief financial officer. “With the new tariff rates in place today, we estimate a gross incremental cost increase to Nike of approximately $1bn. We intend to fully mitigate the impact of these headwinds over time.”


Last year almost 60% of all Nike-branded apparelwas made in Vietnam, China and Cambodia. Vietnam, Indonesia and China manufactured 95% of all Nike footwear last year.

“We have strong relationships with our factory partners, and our leadership team is experienced in managing through disruption,” Friend said. “Nike has consistently been a top payer of US duties. We will optimise our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the United States.”

He said manufacturing capacity and capability still remains important to the company, despite the 60% tariff rate imposed by the US, accounting for about 16% of footwear imports to America.

Friend said the business was working to minimise the impact on consumers.

However, he added that the company would implement a “surgical price increase” in the US from this autumn, and will aim to reduce overheads through “corporate cost reduction”.……

Nike expects Trump tariffs to cost it $1bn

Sportswear company to reduce manufacturing in China to soften the impact of US trade policies

www.theguardian.com

 

[DJ1BigTymer]

Never ending. The Republican Party assault on this Nation continues:

 

[bird]

Never ending. The Republican Party assault on this Nation continues:

Um, Donnie? YOU negotiated the trade deal with Canada, you buffoon.

 

[LA 2 L.A.]

Um, Donnie? YOU negotiated the trade deal with Canada, you buffoon.

He's such a great deal maker that even his great deals aren't great enough for the great deal maker that he is.

 

[MT15]

I think the markets have just largely decided to ignore Trump and his “tariffs” and “deals”.

Also, Canadians are my new favorite posters.