Economy Trump caves. 90 day pause on tarrifs

[Iron Mang]

news of american bond sales made them fold i think.

Yep, essentially confirming the incoming recession.

 

[CantCucktheTuck]

the market seems to find these terms acceptable for now. China may be in trouble though.

 

[Islam Imamate]

Saner heads finally got to Trump and he announced a 90 day pause on tarrif rollouts with no “deals” from other countries. What a massive foot shooting moment this was for nothing

Trump raises China tariffs to 125% but announces 90-day pause for others: Live updates

President Donald Trump's tariffs are drawing swift retaliation from China, Canada and the European Union, deepening the global trade crisis.

www.cnbc.com

Looks like China ones remain. But at least way it’s not trying to tariff the whole world at once like the moron tried. Industry specific or single country targeted tariffs can work as there’s still options then for importers.

Trump with tariffs is like a child with a fork who desperately wants to stick it in an outlet. If all the adults in the room look at him and scream "Nooo stop!" he'll slowly back off but as soon as they turn around he'll try again.

I hope I'm wrong but I don't think this is the last we'll be hearing about these tariffs.

 

[Islam Imamate]

"Weak cuck for pausing tariffs or idiot for thinking this was a good idea to begin with"

Both can be true. He's an idiot for thinking they were a good idea to begin with and he's shown weakness in pulling them after a few days of poor market performance. Of course I'm glad he did pause the tariffs but if you think he should get credit for partially putting out the fire he just started then idk what to tell you.

 

[Rod1]

They wouldn't negotiate at all, if they found it pointless.

Its not pointless in the sense that Trump wants to pretend to negotiate a trade deal.

Its pointless from the point of Mexico and Canada getting an ironclad agreement against Trump's tariffs

You're just trying to have it both ways, where you get to claim that no country would seriously negotiate with the US, but if they do, it's meaningless and they aren't serious. A fine escape route you've dug for yourself, for when you're proven wrong.

The fuck are you on about.

The US is the one that doesn't wants to seriously negotiate with the rest of the world, Trump trashing his own deals is proof enough that no deal is going to protect you, so why it matters what the content is of the "deal"? what matters is what Trump wants.

 

[Rod1]

Yes, the world is happy that America decided to shoot itself on the foot not the head.

I don't see how it is "good news" for anyone involved.

 

[Takes Two To Tango]

Bernie Sanders says it best.

 

[Scheme]

If I understand this correctly.

American industries who import from China will pay a 125% flat tarriff on ALL imported goods from China?

Pretty much EVERY consumer good we own is in manufactured in China.


On a rudimentary level, wont that vastly impact the cost of ALL consumer goods for Americans (and countries she trades with) and cause further supply chain issues?


Who is this supposed to benefit?

Only ~13% of imports come from China. China is becoming very expensive to manufacture in as their standard of living goes up. They became a manufacturing powerhouse because of low wages. Since their workers are now starting to demand higher wages, a lot of manufacturing is going to cheaper, smaller economies. Also with high tariffs, Chinese companies have tried to avoid them while still retaining some of the profits by offshoring their manufacturing to places to skirt the tariffs, which would help smaller economies as well as their labour force are the ones who get the jobs and wages.

Also China has been in an economic downturn recently, with lots of reports of lack of jobs, lowered wages, entertainment and nightlife areas being relatively empty, etc., all before these tariff announcements. These tariffs will really hurt them. Along with that, the de minimis exemption for China is being revoked on top, where goods under $800 are no longer exempted from tariffs or import taxes.

What I would like to see even further is the UN and other organizations no longer classify China as a developing country and giving them the relevant benefits. They have the second biggest GDP of all countries, have military and technological might that is greater than most "developed" countries (and often times, the best). The fact that organizations like the Universal Postal Union considers China a "developing" country and allows them to pay less in terminal dues to ship their products across the world is idiotic. They have 4x more skyscrapers than the #2 country (USA), and 10x more than #3 (UAE). How exactly is that a "developing" country?

In my opinion it's good that we can bolster smaller economies that aren't as openly hostile to the US as China. I still have an issue with the lack of ability for American workers to compete with third world wages, but the 10% overall tariff helps alleviate that. I would like the US to make their manufacturing focused on high quality, durable goods rather than a price race to the bottom as well, because then we wont have to compete with third world (or slave) labour.

 

[KAZSoliloquy]

the market seems to find these terms acceptable for now. China may be in trouble though.

the last 5 months have been the best 5 months china could have ever imagined.

 

[CantCucktheTuck]

 

[oldshadow]

Both can be true. He's an idiot for thinking they were a good idea to begin with and he's shown weakness in pulling them after a few days of poor market performance. Of course I'm glad he did pause the tariffs but if you think he should get credit for partially putting out the fire he just started then idk what to tell you.

Have you ever dealt with say car sales before. Other countries have been asking for more time to work thigs out.

Sounds like his people are saying "Well let me see what i can do but I don't think the boss is going to buy that." Then they go have coffee or get a drink with the boss and they come back and say " well he didn't want to but I talked him into it" "What kind of offer can I go back to him with."

I have no idea if this is going to work in this situation. I think it depends on where he puts the line on the deal and how bad they want it
I'm not sure if this is a strong tactic with trade negotiation but we will see if guess

 

[MeatheadMike]

Looks like he is giving them a chance to make him a better offer. We will see if it works.

What would a better offer look like though? He already had zero for zero on the table and said no.

 

[CubicleGangster]

Have you ever dealt with say car sales before. Other countries have been asking for more time to work thigs out.

Sounds like his people are saying "Well let me see what i can do but I don't think the boss is going to buy that." Then they go have coffee or get a drink with the boss and they come back and say " well he didn't want to but I talked him into it" "What kind of offer can I go back to him with."

I have no idea if this is going to work in this situation. I think it depends on where he puts the line on the deal and how bad they want it
I'm not sure if this is a strong tactic with trade negotiation but we will see if guess

I'd prefer our president didn't use car salesmen tactics with our trading partners and allies

 

[Islam Imamate]

Have you ever dealt with say car sales before. Other countries have been asking for more time to work thigs out.

Sounds like his people are saying "Well let me see what i can do but I don't think the boss is going to buy that." Then they go have coffee or get a drink with the boss and they come back and say " well he didn't want to but I talked him into it" "What kind of offer can I go back to him with."

I have no idea if this is going to work in this situation. I think it depends on where he puts the line on the deal and how bad they want it
I'm not sure if this is a strong tactic with trade negotiation but we will see if guess

Comparing the Trump admin to sleazy car salesmen is probably a good analogy but I don't think it works as a defense of the trade war approach, quite the opposite if anything.

 

[oldshadow]

What would a better offer look like though? He already had zero for zero on the table and said no.

Hell I'm not sure what he wants and what he will take. I hope he doesn't blow it by trying to get too much.

Like with anything say a car either side can over play what they think is a strong hand.

I know they need access to the US market more then we need them. How much more is the thin line he has to walk and not screw it up.

We will see if he really can make the deal or he doesn't .

 

[AWilder]

you'll fall for it every time

 

[Takes Two To Tango]

People here who support Trump, do you honestly think he's looking for your best interest?

The guy been doing these scams for a long time, this is just a larger scale scam that only benefits him and his rich friends.

Trump doesn't care about you small folks, who are the vast majority of Americans. I know it's hard to believe, but it's true.

 

[Islam Imamate]

Yes, the world is happy that America decided to shoot itself on the foot not the head.

I don't see how it is "good news" for anyone involved.

His supporters praise Trump for bringing these countries to the negotiating table but to use your analogy its like praising the negotiating skills of a suicidal man with a gun to his head because he got the police to "negotiate" with him about whether or not to blow his brains out.

 

[AWilder]

 

[Prologue]

There's 10% on Canada and Mexico now. Will somebody give this baby his daily apple sauce and put him to bed please?

Fucking christ...