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.

 

[LA 2 L.A.]

Trump and US commerce secretary say tariffs are delayed until 1 August, sparking confusion

President says team will start sending trade partners letters with new tariff rates ahead of this week’s original 90-day deadline to make deal

www.theguardian.com

What a shirtshow run by a dipshirt.

 

[MT15]

Yeah, they all just say whatever the hell lie suits them at the moment.

 

[efil4]

 

[efil4]

 

[Dragon]

The gap is likely to widen — and I see clear signs of it already.

Many U.S. products are being sold at heavily discounted prices, if they’re being sold at all. A significant number of consumers are actively boycotting American goods, and importers are responding by switching to European or Asian alternatives.

This shift is expected to continue for as long as the current U.S. administration remains in power — and potentially well beyond that, as consumers develop new preferences for non-U.S. brands.

 

[MT15]

Usual competence on display.

 

[LA 2 L.A.]

The gap is likely to widen — and I see clear signs of it already.

Many U.S. products are being sold at heavily discounted prices, if they’re being sold at all. A significant number of consumers are actively boycotting American goods, and importers are responding by switching to European or Asian alternatives.

This shift is expected to continue for as long as the current U.S. administration remains in power — and potentially well beyond that, as consumers develop new preferences for non-U.S. brands.

Would you be open to adopting a nearly sixty year old male from a soon to be shirt hole country who'll need a good home soon? Asking for a friend.

 

[LA 2 L.A.]

Usual competence on display.

The dog and pony presidency.

 

[Optimus Prime]

The looming threat of much higher tariffs amid Donald Trump’s trade war could lead to a fresh wave of companies going bust and cause financial losses for banks, the Bank of England has warned.

The Bank’s financial policy committee said a rise in trade levies would compound existing vulnerabilities, with the risks to global growth and inflation having grownas a result of the president’s ever-changing border tax rates and an escalating conflict in the Middle East.

In its financial stability report, the committee said the situation puts a range of companies at risk globally, particularly those with large debt piles.

“The potential for much higher trade tariffs increases the likelihood of corporate default in the most exposed sectors, and losses for their lenders.”

The Bank said UK businesses as a whole appeared largely resilient amid the uncertainty, given relatively stable net debt levels, and that most British companies were able to withstand sharply higher tariffs even if their earnings fell by 10% and their borrowing costs surged.

However, it said that the overall picture could “mask vulnerabilities within particular firms and sectors”, including manufacturing and retail.

“Notwithstanding the trade deal between the UK and US, if the shock were to worsen, with greater than expected tariffs globally and larger than expected spillovers to world demand, it could impact UK corporates,” the committee said, including through weaker global demand, higher supply costs and fewer borrowing options, with banks and other lenders less willing to provide loans.

It added that further shocks could affect the UK manufacturers that rely on exports to the US, and retailers that depend on strong consumer demand and would struggle to offset losses by raising prices.……..

Threat of Trump tariffs ‘puts businesses at risk of going bust’

Rise in trade taxes could weaken demand, increase costs and make banks less willing to provide loans

www.theguardian.com

 

[Dragon]

The looming threat of much higher tariffs amid Donald Trump’s trade war could lead to a fresh wave of companies going bust and cause financial losses for banks, the Bank of England has warned.

The Bank’s financial policy committee said a rise in trade levies would compound existing vulnerabilities, with the risks to global growth and inflation having grownas a result of the president’s ever-changing border tax rates and an escalating conflict in the Middle East.

In its financial stability report, the committee said the situation puts a range of companies at risk globally, particularly those with large debt piles.

“The potential for much higher trade tariffs increases the likelihood of corporate default in the most exposed sectors, and losses for their lenders.”

The Bank said UK businesses as a whole appeared largely resilient amid the uncertainty, given relatively stable net debt levels, and that most British companies were able to withstand sharply higher tariffs even if their earnings fell by 10% and their borrowing costs surged.

However, it said that the overall picture could “mask vulnerabilities within particular firms and sectors”, including manufacturing and retail.

“Notwithstanding the trade deal between the UK and US, if the shock were to worsen, with greater than expected tariffs globally and larger than expected spillovers to world demand, it could impact UK corporates,” the committee said, including through weaker global demand, higher supply costs and fewer borrowing options, with banks and other lenders less willing to provide loans.

It added that further shocks could affect the UK manufacturers that rely on exports to the US, and retailers that depend on strong consumer demand and would struggle to offset losses by raising prices.……..

Threat of Trump tariffs ‘puts businesses at risk of going bust’

Rise in trade taxes could weaken demand, increase costs and make banks less willing to provide loans

www.theguardian.com

UK is in a bind.. They are not a member of EU and while they do have trade agreements with both EU and US, they don't have the same economic power that the EU has.

 

[superchuck500]

What a huge forking clown this guy is

 

[Booker]

What a huge forking clown this guy is

Bolsonaro, who has bragged about his closeness with Trump, is facing trial for allegedly attempting to stage a coup against the current president, Luiz Inácio Lula da Silva.
...
Bolsonaro, often dubbed the “Trump of the Tropics,” is on trial in Brazil for charges related to an alleged plot to overturn the 2022 election results. He and dozens of associates have been charged with attempting a coup d’état, which prosecutors allege involved a plan to potentially assassinate elected President Luiz Inácio Lula da Silva.

Birds of a feather and all that.

 

[Dragon]

Trump struts like he’s king of the world, but most of the world sees him as a raving lunatic who’s easily manipulated with flattery. They’re not following him — they’re laughing behind his back.

 

[MT15]

What a huge forking clown this guy is

Wannabe gangster. He thinks he’s in the Mafia, basically.

 

[MT15]

This is just another in a long list of Trump making policy decisions for his own political benefit over the country’s best interests. He should be impeached.

 

[MT15]

Also, I didn’t realize the US runs a trade surplus with Brazil. There’s no legitimate policy reason for these tariffs.

 

[fooferdoggie]

He kinda is. everyone has to pledge loyalty to him, and they have to be willing to lie and break the law for him. But unlike the mob, he has no loyalty or obligation to protect them.

 

[Maxp]

Brazil has very high tarrifs on American goods. Orange juice is about to get really expensive.