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Message
Status Update on Trump’s Trade War w/China
Posted on 2/12/20 at 11:49 am
Posted on 2/12/20 at 11:49 am
In just 3 years:
- China is suffering a mass exodus of heavy industry and manufacturing due to Trump's tariffs (article from 2019).*
- Exports from China have fallen off a cliff since the trade war began in July of 2018 (down 26% from a high of $46B in that month).**
- China has relinquished its top spot as America’s largest trading partner and now sits in third place, behind Mexico and Canada.
- Trump has indirectly (or directly?) exposed a lending crisis that threatens to upend China's entire financial system.***
- The Chinese have been forced to publicly walk back their oath to not buy American agricultural products, a deeply humiliating defeat on the world stage that would have been an unthinkable concession under Obama or Bush.****
- Our negative trade deficit is shrinking.
- The president's choke-hold on the Chinese government has forced them to sign a trade deal that levels the uneven trade relationship and compels the Chinese to purchase even more American products. And China is cutting their own tariffs on U.S. goods, signaling their surrender. More unimaginable concessions that have nevertheless become a reality.
Three. Years.
* https://www.cnbc.com/2019/07/18/more-than-50-companies-reportedly-pull-production-out-of-china-due-to-trade-war.html
** https://www.scmp.com/economy/china-economy/article/3045141/chinas-manufacturing-exodus-set-continue-2020-despite
*** https://www.scmp.com/comment/opinion/article/3044148/chinas-banking-debt-crisis-ticking-time-bomb-must-be-defused-urgent
**** https://www.reuters.com/article/us-usa-trade-agriculture/china-buys-u-s-soybeans-pork-amid-uncertainty-about-trade-war-settlement-idUSKBN1XP2AF
- China is suffering a mass exodus of heavy industry and manufacturing due to Trump's tariffs (article from 2019).*
- Exports from China have fallen off a cliff since the trade war began in July of 2018 (down 26% from a high of $46B in that month).**
- China has relinquished its top spot as America’s largest trading partner and now sits in third place, behind Mexico and Canada.
- Trump has indirectly (or directly?) exposed a lending crisis that threatens to upend China's entire financial system.***
- The Chinese have been forced to publicly walk back their oath to not buy American agricultural products, a deeply humiliating defeat on the world stage that would have been an unthinkable concession under Obama or Bush.****
- Our negative trade deficit is shrinking.
- The president's choke-hold on the Chinese government has forced them to sign a trade deal that levels the uneven trade relationship and compels the Chinese to purchase even more American products. And China is cutting their own tariffs on U.S. goods, signaling their surrender. More unimaginable concessions that have nevertheless become a reality.
Three. Years.
* https://www.cnbc.com/2019/07/18/more-than-50-companies-reportedly-pull-production-out-of-china-due-to-trade-war.html
** https://www.scmp.com/economy/china-economy/article/3045141/chinas-manufacturing-exodus-set-continue-2020-despite
*** https://www.scmp.com/comment/opinion/article/3044148/chinas-banking-debt-crisis-ticking-time-bomb-must-be-defused-urgent
**** https://www.reuters.com/article/us-usa-trade-agriculture/china-buys-u-s-soybeans-pork-amid-uncertainty-about-trade-war-settlement-idUSKBN1XP2AF
This post was edited on 2/12/20 at 11:51 am
5
Posted on 2/12/20 at 11:50 am to PickupAutist
quote:
Our negative trade deficit is shrinking.
IBaChiCOM will be along any minute to tell you why a deficit is a good thing and OMB...
Posted on 2/12/20 at 12:10 pm to The Maj
Hopefully he is stocking up on 3m masks to protect him from the pangolin/batsoup-AIDS going around in the nation he holds his allegiance to.
Posted on 2/12/20 at 12:17 pm to PickupAutist
quote:
trade deficit is shrinking
not compared to pre-trade war. not even close!
quote:
China is cutting their own tariffs on U.S. goods, signaling their surrender. More unimaginable concessions
they had been cutting tariffs on us and others for years before the trade war
quote:
president's choke-hold on the Chinese government has forced them to sign a trade deal that levels the uneven trade relationship
Posted on 2/12/20 at 12:50 pm to 90proofprofessional
Any evidence to corroborate your opinions?
Posted on 2/12/20 at 12:56 pm to 90proofprofessional
quote:
not compared to pre-trade war. not even close!
Link?
Posted on 2/12/20 at 1:09 pm to PickupAutist
quote:
China has relinquished its top spot as America’s largest trading partner and now sits in third place, behind Mexico and Canada.
And China uses Mexico and Canada as a backdoor partner into our market. Especially when it comes to car parts in cars made in those countries. USMCA was seaking to fix that. Think it made the source component percentage from up from 40% under nafta to 60% in USMCA.
Anxious to see how that plays out.
Posted on 2/12/20 at 3:12 pm to PickupAutist
Well... I'll tell you this... when it comes to negotiating trade deals on behalf of US citizens:
I trust Trump and a businessman that is independently wealthy
WAAAAAYYYYYYY more
than I do career politicians that are punching a card for 4-8 years and hoping to get rich afterwards.
I trust Trump and a businessman that is independently wealthy
WAAAAAYYYYYYY more
than I do career politicians that are punching a card for 4-8 years and hoping to get rich afterwards.
Posted on 2/12/20 at 3:23 pm to PickupAutist
Here in the OP we see the attitude of the Trumpkins here.
Not a single thing listed means new jobs in America.
From the first link:
So the link does not prove less imports. It proves less imports from 50 companies from China---companies that decided to import it from somewhere else.
As China's domestic economy grows they are having some of same issues all wealthier countries have.
Not a single thing listed means new jobs in America.
From the first link:
quote:(wouldn't it be great to have 6% growth here again??)
American personal computer makers HP and Dell could move up to 30% of their notebook production in China to Southeast Asia, Nikkei reported. Apple has asked its major suppliers to assess the cost implications of moving 15% to 30% of their production capacity from China to India, according to an earlier report from the Nikkei.
Japan’s Nintendo is also going to pull a portion of its video game console production from China to Vietnam, according to Nikkei.
Not only are foreign companies rethinking its production location, a handful of Chinese companies are also leaving China. Chinese multinational electronics company TCL is moving its TV production to Vietnam, while Chinese tire maker Sailun Tire is transitioning its manufacturing line to Thailand, Nikkei reported.
The prolonged trade battle seems to be taking a toll on the Chinese economy. Data on Monday showed its economic growth slowed to 6.2% in the second quarter — the weakest rate in at least 27 years.
So the link does not prove less imports. It proves less imports from 50 companies from China---companies that decided to import it from somewhere else.
quote:
Rising labour and environmental costs, a head-spinning regulatory environment, the ever-looming threat of more and higher tariffs, along with a sharp increase in the perception of risk associated with living and working in China mean that the manufacturing exodus that began at the tail end of the last decade will continue well into this one.
As China's domestic economy grows they are having some of same issues all wealthier countries have.
Posted on 2/12/20 at 7:09 pm to 4quartaBamaball
quote:
Any evidence to corroborate your opinions?
They're not opinions. They're statements of fact, objectively true or objectively false. Regarding our rapidly-expanding trade deficits, and China's steady and pre-announced tariff reductions, I've posted explicit confirmation of same on this board on several occasions. No one cares, because we're impervious to data we don't like.
Posted on 2/12/20 at 7:13 pm to Homesick Tiger
the two years with the largest trade deficits we've had in the last decade were 2018 and 2019, by a wide margin.
of the quarters with the 10 largest trade deficits in the last decade, all but 2 have been since our protectionist efforts started
you'll find a similar pattern holds for monthly deficits
even whatever imports are getting diverted from china, are just getting diverted to some other country near there or Mexico, nearly one-for-one
of the quarters with the 10 largest trade deficits in the last decade, all but 2 have been since our protectionist efforts started
you'll find a similar pattern holds for monthly deficits
even whatever imports are getting diverted from china, are just getting diverted to some other country near there or Mexico, nearly one-for-one
This post was edited on 2/12/20 at 7:22 pm
Posted on 2/12/20 at 7:57 pm to 90proofprofessional
wide margin my arse, I am looking at the fricking graph.
and what is this last decade horse shite?
Cut that mother fricking graph off to suit your argument.
WHen the economy is shite the trade deficit goes down
It was the lowest of the last 20 years in 2009, I wonder why the frick that was?
and what is this last decade horse shite?
Cut that mother fricking graph off to suit your argument.
WHen the economy is shite the trade deficit goes down
It was the lowest of the last 20 years in 2009, I wonder why the frick that was?
Posted on 2/13/20 at 9:00 am to gthog61
quote:
and what is this last decade horse shite?
it's an order of magnitude broader than the window you'd have to use to say the trade deficit is "falling", or did you not notice that?
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