Angered by China's Retaliation, Trump Orders Another $100 Billion in Tariffs

[Orgasmo]

So China slapped on $3 billion tariffs of their own last month in response to Trump's steel and aluminum import tariff. Yesterday Beijing impose an additional 25% tariffs on goods from states that heavily voted for Trump since Trump announced another $60 billion tariffs last week. Trump got heavily rustled by the news, and wants to up the ante for another $100 billion today.

Prepare for a massive tumbling of US stock market tomorrow. Any chance of a negotiated deal to avoid major market turbulence has been flushed down the toilet. If you own any Boeing stock, might be time for a new pair of pants. Did this idiot expect China to just take the hits without responding?

U.S. President Donald Trump has instructed the U.S. trade representative to consider slapping $100 billion US in additional tariffs on Chinese goods.

The move comes a day after China issued a $50 billion list of U.S. goods including soybeans and small aircraft for possible tariff hikes in an escalating and potentially damaging dispute.

Trump said in a statement on Thursday that the further tariffs were being considered “in light of China’s unfair retaliation” against earlier US trade actions. He added that the US trade representative had determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property”.

http://www.cbc.ca/news/business/trump-tariffs-china-trade-1.4607420
https://www.theguardian.com/us-news...ina-trade-war-new-tariff-proposal-100-billion

 

[JosephDredd]

Trump angry they retaliated. Smh.

 

[Quequeg]

Is this going to effect the Trumps entire product line(made in China)

 

[AGGAMEMNON66]

This is it guys. It's finally happening.

 

[JonnyRingo84]

This is it guys. It's finally happening.

this was funny for a while.

now its just a common deflection.

tariffs are good if you can push a country's buttons just far enough to not start a trade war. it looks like trump doesnt know that. its a pissing contest to him or what?

 

[original doom]

i think theres more to this than meets the eye. trump has backers, who are they ?

 

[Stoic1]

LOL this is awesome.

BTW, China will lose this in the long run if it keeps up.

 

[Orgasmo]

This is it guys. It's finally happening.

I don't know about Trump, but this is it for US stock market. All of this year's gain had been wiped out and the S&P/DOW fell below its 200 day moving average. We're effectively in correction territory heading for bear market.

All thanks to the Orange Orangutan.

LOL this is awesome.

BTW, China will lose this in the long run if it keeps up.

Nobody wins in a trade war. Everybody loses. That's why the Great Depression lasted so long, since economic growth was blocked by trade barriers. The US stock market gains of last year had been demolished in a matter of weeks because Trump thinks he can win a trade war. Winning a trade war is like fucking for virginity. Only those ignorant in economics will believe that shit.

 

[Liquid Smoke]

Sounds like DJT45 ain't fucking around.

 

[Quequeg]

Tillersons words are being proven true every day.

 

[Liquid Smoke]

All thanks to the Orange Orangutan.

I believe he identifies as a "cheeto". Get it straight.

 

[HomerThompson]

Is this going to effect the Trumps entire product line(made in China)

*affect

 

[HomerThompson]

He just went full Dr. Evil.

 

[Ruprecht]

LOL this is awesome.

BTW, China will lose this in the long run if it keeps up.

Seems unlikely. Consumer pressure is a powerful political force in the US.
In China... not so much.
The US has the potential to inflict more economic pain, but China has the political potential to absorb way more than the US ever would.

 

[JudoThrowFiasco]

Im genuinely perplexed by Trump on this one -- himself and all his buddies, not to mention his donor base all profit immensely by US/Chinese trade -- as well investment market health, i always thought he didnt want the job, but in the position, would tilt the board to favor his and his friends bottom line, so im not sure what the play is here

 

[luckyshot]

Trade wars are easy to win...

 

[FacePunch]

*affect

 

[Big Nasty Edison]

BTW, China will lose this in the long run if it keeps up.

How so?

 

[Quequeg]

*affect

You sure about that? edit you are correct

 

[HomerThompson]