Thursday, July 5, 2018

David Lawder, Elias Glenn — Trump says U.S. tariffs on Chinese goods could exceed $500 billion

President Donald Trump said on Thursday the United States may ultimately impose tariffs on more than a half-trillion dollars’ worth of Chinese goods as the world’s two largest economies hurtled toward the start of a trade war....
Does China need Western markets more than the West needs Chinese market? Looks like we are going to find out as equities markets make their bets.

Trump says U.S. tariffs on Chinese goods could exceed $500 billion
Tyler Durden


Konrad said...

[1] U.S. businesses eliminate U.S. jobs by moving their manufacturing to China to exploit cheap labor. This makes the USA dependent on Chinese labor.

[2] Trump uses tariffs to punish the Chinese labor that the USA depends on, and also to punish American workers who were already punished by being laid off. (Tariffs increase the price of imported goods that average Americans must pay.) The Chinese say they will retaliate with an equal amount of tariffs against U.S. products. This will punish American workers who still have jobs with companies that export to China.

[3] The way to offset a trade deficit is to foster and support American manufacturing. Instead, Trump imposes tariffs denominated in US dollars, which the US government creates out thin air. All monies collected from tariffs will be effectively destroyed upon receipt (just like federal tax revenues are destroyed).

[4] The more that Trump reveals himself to be an utter moron who despises American workers, the more Trump is worshipped by utter morons like Natt Phranko.

Matt Franko said...

Citi calling for full-on global bear:

Matt Franko said...

Yo, 213k jobs added :

Matt Franko said...

Firms making munnie:

“S&P 500 Likely to Report Earnings Growth Above 20% for Second Straight Quarter”