Trump signs tariffs

[Clocker]

Originally Posted by elysiantraveller

It's all optics. The Chinese are hitting back against the Steel tariff today.

Oops.

Everyone Loses as China Escalates Trade War With Tariffs on American Pork, Fruit, and More

China announced new tariffs on 128 American imports yesterday, primarily targeting agricultural products such as pork, nuts, fruit, and wine. In a statement, the Chinese government said it was imposing the new tariffs "in order to safeguard China's interests and balance the losses caused by the United States' additional tariffs."

Regardless of whether it's Trump or Chinese President Xi Jinping ordering the tariffs, Americans stand to lose.

The trade barriers Trump issued to prop up the steel and aluminum industries will end up increasing costs for thousands of downstream businesses—by one count, there are 46 American jobs in steel-consuming industries for every steel-producing job in the country.

Now retaliatory tariffs may cut off overseas markets for American farms and wineries. If American pork, wine, and other products become more expensive in China, Chinese importers might start getting their supplies elsewhere. Spanish pork, Chilean wine, and Australian nuts could replace American products in one of the world's largest and fastest-growing economies.

http://reason.com/blog/2018/04/02/ev...scalates-trade

[schweitz]

It's a joke. China owns the largest pork producer in the US (Smithfield). I doubt that they will either not import their own pork or pay a tariff if they do.

[woodtoo]

Chinese tariffs on American goods $3 billion
American tariffs on Chinese goods $50 billion

This is not a trade war America will lose. China paid $5 billion for Smithfield in 2013
30% more than it was worth. China cant feed itself. Game set match.

[PaceAdvantage]

Tariff crash is definitely back on...

[classhandicapper]

Originally Posted by schweitz

It's a joke. China owns the largest pork producer in the US (Smithfield). I doubt that they will either not import their own pork or pay a tariff if they do.

lmao

We have trading partners that have been eating our lunch for decades at the table renegotiating deals and North Korea running to the Chinese to figure out how they can disarm, remove the embargo, and begin international trade without being overthrown, and everyone is in a tizzy.

Me thinks even republicans are watching too much Rachel MadCow.

[fast4522]

I see posts about tariff's & Trump being on the wrong side of history, I am pleased someone is trying something different. Oh he is so wrong and going to cost the consumer etc, in a larger picture it is just a consumption tax that would never pass under its own light. The regular family would not pay more only consuming the normal amounts, on the other hand someone who pays 70k for a car is not your average family guy. As for China who has NO play and can only lose on tariff's I want to see President cut deeper into them. Am I going to cry for the Walton's of Walmart, please I really could give a shit less. Reciprocal tariff everyone, if Europe implodes oh well.

[elysiantraveller]

This whole thread at this point is hilarious.

China's tariff response today was in regards to the Steel tariff not the $50 billion tariff that hasn't happened yet.

Not one person thinks this is a good move.

We will NOT win a trade war with China if it comes to that.

But I digress Trump and all you guys who have demonstrated a serious lack of knowledge about economics are correct.

[Clocker]

Originally Posted by elysiantraveller

Not one person thinks this is a good move.

Trump, his nationalist trade advisers, and his cronies in the steel industry all think it's better than two scoops of ice cream.

[elysiantraveller]

Originally Posted by Clocker

Trump, his nationalist trade advisers, and his cronies in the steel industry all think it's better than two scoops of ice cream.

For those arguing the stock market angle:

DJIA after a year of establishment Republican agenda... 24,719.

DJIA after first quarter of Trump-base campaign idiocy... 23,644.

[PaceAdvantage]

Establishment Republican agenda...

Like anybody wanted THAT four years ago...

[elysiantraveller]

Originally Posted by PaceAdvantage

Establishment Republican agenda...

Like anybody wanted THAT four years ago...

Good quip.

Explain how my point is wrong...?

We aren't arguing about votes we are arguing about sound economic policy.

Deregulation and Tax cuts = sound economic policy.

Tariffs, regulations, and trade wars =/= not sound economic policy.

Is the market not reflecting that?

[incoming]

5 day change in the DOW....UP 2.31%
52 week change in the DOW....UP 14.43%
20 day average DOW....UP 3.33%

https://www.barchart.com/stocks/indi...Name=technical

ankle bitters are everywhere

[Clocker]

I don't follow the markets closely, but I am seeing a lot that indicates increasing volatility and worry.

The S&P 500 gained or lost 1 percent in a single day 23 times this quarter; in most of 2016 and 2017, it went for months without a single such move.

The 81 percent jump in the Cboe Volatility Index tells the story of a quarter when stocks went from euphoria to correction in a matter of weeks. Optimism over Donald Trump’s tax cuts triggered unprecedented inflows into U.S equity funds in January as the S&P 500 jumped the most in 22 months. Then, a popular short volatility trade blew up, triggering a 10 percent correction that wiped $2 trillion from U.S. stocks.

March failed to calm nerves amid White House reshuffles, a trade spat with China and a slump in tech megacaps on concern over tighter regulatory scrutiny. The scorecard by the end of the quarter: the S&P 500 fell 1.2 percent, the Nasdaq 100 Index rose 2.9 percent, small caps slid 0.4 percent. It was the worst stretch in at least a year for all of them.

https://www.msn.com/en-us/finance/ma...ter/ar-AAvgqAI

[elysiantraveller]

Originally Posted by incoming

5 day change in the DOW....UP 2.31%
52 week change in the DOW....UP 14.43%
20 day average DOW....UP 3.33%

https://www.barchart.com/stocks/indi...Name=technical

ankle bitters are everywhere

No ankle biting simply pointing towards a departure in policy strategy and the market reaction.

Since no one here has actually provided anything stating the soundness of this economic policy I'm just having fun in here at this point.

If we were to just count sourced links other than rhetoric clocker and I have a vastly larger tally at the moment. For those actually keeping track of thr event's so far and the hilarity of this forum here is what's happened.

Trump announces steel tariffs.
Major importers, mostly our allies, threaten retaliation.
PA/OT reaction: to hell with Europe we'll kick their ass.
Those countries granted exemption.

Thats literally the play by play for this... now because they've already been caught either A) being played by Trump and that can't possibly be true it's B) that wasn't the real goal it's the Chinese and "we're gonna kick their ass..."

Until the goal posts move again.

[incoming]

Dear Mr. elysiantraveller,

I will give you this ....you are a master at walking sideways and nitpicking. Please spare me your personal attack speech...out

https://elysiantraveller.wordpress.com/