Trump's Trade Wars - another disaster
POSTED BY: captaincrunch
UPDATED: Tuesday, July 7, 2020 08:51
VIEWED: 14929
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Entrepreneurship was down 40% in 2018.
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The Trump administration’s trade war with China has turned out to be a windfall for Mexico.
Mexico has seen gains in shipments to the U.S. in categories in which competing Chinese goods were hit with tariffs. In all, U.S. imports of goods from Mexico surged to almost $350 billion last year, the fastest growth in seven years. That helped widen the U.S. trade deficit with Mexico by 15% to more than $80 billion, while our trade deficit with China increased by only 12%.
Mexico’s gain is evident across a diverse span of sectors. After the U.S. levied tariffs on metal ores and their byproducts, Mexico’s exports to the U.S. more than doubled, while China’s sank by a quarter.
The trade war also made the U.S. more reliant on produce from Mexico, already the biggest source of vegetables such as cauliflower, carrots and onions. In one stark example, imports of peeled garlic cloves from China sank by almost a quarter after receiving tariffs, while Mexican exports rose 54%.
I’m sure that soon Trump will sign a fabulous new deal with China that will make this all seem like peanuts. After all, trade wars are so easy to win—or so I’ve heard.
www.motherjones.com/kevin-drum/2019/03/our-trade-war-with-china-has-be
nefited-mexico/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Trump’s China trade war is (mostly) pro-business
The China trade debate today is different from the one of 10 or 20 years ago, when labor unions were asking for protection against competition with low-wage Chinese labor. The point of getting tough on China, in those days, was to save American jobs from outsourcing by applying tariffs that would raise the cost of Chinese-made goods and thus discourage American companies from relying on Chinese factories for production.
Over the past five years, however, the China argument has shifted subtly.
Today, under Trump, the United States is primarily asking the Chinese government to enact policy changes that will make it easier for American companies to outsource jobs to China. That includes cracking down on Chinese theft of American intellectual property, paring back regulations that force Americans to form joint ventures with Chinese companies in order to do business there, and ending “forced technology transfer” policies that make American companies hand over valuable knowhow in order to gain access to the Chinese market.
It’s true that the tool Trump is using to try to get these concessions — tariffs — is the same as what labor was asking for in the mid-aughts. But the Trump administration’s policy goal isn’t to keep these tariffs in place to protect American jobs. It’s to remove the tariffs in exchange for the Chinese agreeing to make China a friendlier place for American companies to do business.
This agenda has sparked some backlash from the business community — especially from the farm lobby — because it’s bad for Americans who are heavily involved in exporting to China. But big business writ large is comfortable with this form of confronting China because it mostly serves to advance their interests. The fact that this trade war is easily confused for the kind of old-style populist protectionism that they oppose is, to big business, a feature rather than a bug. Trump is mobilizing anti-trade sentiments that corporate America worries about on behalf of an agenda that corporate America mostly supports.
www.vox.com/2019/6/5/18652791/trump-mexico-tariff-congressional-republ
icans
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Quote:And the last few days the markets are climbing like crazy. So another post here. Nitwits.
Originally posted by JEWELSTAITEFAN:Quote:And yet again today Dow climbed above 26,000 - and here we have another bump of the thread.
Originally posted by JEWELSTAITEFAN:
Why does this thread seem to get bumped when the Markets are climbing? This time to the highest point in almost 4 months.
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Quote:House Republicans will likely remain as House Republican-y as ever, doing whatever Trump tells them to do and forcing a smile while they do it, but Senate Republicans, just about to a person, are apoplectic over the tariff proposal, which would start at 5 percent on all goods and increase each month until Mexico solves America’s immigration issues. The White House, in an effort that senators definitely interpreted as a slight, sent a couple of hapless lawyers to Senate Republicans’ Tuesday luncheon to field their questions about the policy. (The actual meaningful people in the administration were busy traipsing around England in silly little jackets.)
Originally posted by JEWELSTAITEFAN:
Nitwits.
The lawyers were given a proper scorching. Oklahoma Sen. James Lankford said that the administration “is trying to use tariffs to solve every problem but HIV and climate change.” Wisconsin Sen. Ron Johnson told them that they would have trouble voting to sustain the president’s veto of a measure blocking the tariff. And Texas Sen. Ted Cruz, whose state would be particularly hard hit by the broad tariff on its neighbor, told the lawyers that he wanted them to take a message back to the White House: that they “didn’t hear a single yes” from the conference in support of the tariff.
https://slate.com/news-and-politics/2019/06/republicans-tariffs-trump-
mexico.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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I keep wondering when the trade war disaster is going to happen.
I'm not an ostrich. The US and global economies have been set up for a repeat meltdown because none of the problems of 2008 were fixed. And the current economic system is unsustainable at many levels.
But from the current state of affairs, Trump has been proved right about needing a wall, and not proved wrong in is approach to unsustainable trade practices.
Anyone care to guess a DATE where Trump's trade war becomes a real (as opposed to imaginary - ie 'fake news') disaster? I'll be happy to put it in the predictions thread for you.
And if democrats don't do anything different, how are they any better?
tic tac
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Quote:1kiki, Trump is claiming victory when there is no victory in the War he started.
Originally posted by 1kiki:
I keep wondering when the trade war disaster is going to happen.
Anyone care to guess a DATE where Trump's trade war becomes a real (as opposed to imaginary - ie 'fake news') disaster? I'll be happy to put it in the predictions thread for you.
The differences between Clinton’s NAFTA — which Trump called the worst trade deal ever — and the Trump’s USMCA — of which Trump is very, very, very proud indeed: GREATEST TRADE DEAL EVER!! MAKES AMERICA GREAT!!!! — are either:
(a) trivial,
(b) parts of the Trump-nuked Trans-Pacific Partnership, or
(c) changes in auto parts rules of origin that are not on the manufacturers’ wish list and are not really on the United Auto Workers’ wish-list either.
How did this happen? Nobody can figure why Trump claims victory.
This has been Trump’s best strategy from the start: do something trivial and then market the hell out of it. Sure, there’s not much difference between NAFTA and New NAFTA, but there’s not much difference between Tide and New Tide, either. So what? It’s almost an axiom of marketing that success has no correlation with the actual quality of the product being sold.
Even Trump is probably smart enough to know that he can’t actually solve any of the problems he campaigned on. But he doesn’t care. He just needs something, anything, that allows him to claim victory.
www.bradford-delong.com/2019/06/eg-from-nafta-to-usmca-whats-new-and-w
hats-next-center-for-strategic-and-international-studies.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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The thread is about "Trump's Trade Wars - another disaster". A disaster which doesn't exist.
But, to avoid the topic and its very obvious problem, sloppyseconds farts - AGAIN!
And if democrats don't do anything different, how are they any better?
tic tac
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Quote:It is 1941, shortly after Pearl Harbor, and President Trump has declared the War is won. To prove it, he points to Washington D.C., where not a single building is in ruins. President Trump celebrates V-J Day in D.C. with a parade to honor his Mightiness as a Trade-Warrior! But overseas, Hitler, Mussolini and the Emperor are wondering What The Hell are the Republicans and their President celebrating? Then the Axis Powers continue their business of conquering the World, while the deluded Trump voters won't know for years that President Trump didn't win the Trade War.
Originally posted by 1kiki:
The thread is about "Trump's Trade Wars - another disaster". A disaster which doesn't exist.
But, to avoid the topic and its very obvious problem, sloppyseconds farts - AGAIN!
www.history.com/topics/world-war-ii/v-j-day
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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