Trade wars - shooting yourself in the foot.

[Tero]

Trump messing with two biggest economies:
http://money.cnn.com/2018/06/25/news/ec ... index.html

[Tero]

The..er...guy on the prairie...had a blog on the topic.
http://esapolitics.blogspot.com/2018/06 ... trade.html

[Tero]

Trump you lose!

”The auto industry is also raising concerns about the intricacy and global nature of how cars and trucks are made, with parts crossing borders many times to build one automobile. Domestic and foreign brands alike are concerned that penalties would disrupt sales and hurt their bottom lines.

Unlike the steel and aluminum tariffs — where some companies, unions and lawmakers offered measured support for the president’s attention and protection — there is near-unanimous opposition among those same groups against the push to impose tariffs on cars.”

https://www.politico.com/story/2018/06/ ... ffs-653654

[Tero]

Trade wars:
Yet Mr Trump’s medicine will not cure the patient, and may well cause further damage. He is a snake oil salesman, not a physician.
https://www.theguardian.com/commentisfr ... s-who-wins

First billionaire president has no clue about economics outside of hotel business.

[Svartalf]

but even if he is able to file for bankruptcy for a casino business in Frigging Atlantic City, he does seem to have the hotel biz down pat, maybe he should turn the US to a gigantic hotel?

[Tero]

A large fenced tent city in Orlando more likely. For Mexican rapists.

[Svartalf]

yeah, Mexican rapists are a threat to the jobs of American rapists, then again, the Weinstein case means that raping is gonna be outsourced anyway...

[Tero]

One senator dares to stand up to Trump. The rest will go 100% Trump in November, this one is not running. Trade is the main beef farm states are starting to have with Trump
https://www.politico.com/story/2018/07/ ... ver-702071

[Tero]

Trump even said...for 30 years...that this should be done, trade war with China. We sell food and airplanes to China:

Nearly two-thirds of the jobs in industries targeted by China’s tariffs — a total of more than 1 million jobs — are in more than 2,100 counties that voted for Trump. By contrast, barely more than one-third of the jobs in China-targeted industries — just over half a million — are in the counties that voted for Clinton. (This is based on 2017 county/employment data.) This doesn’t mean those jobs will definitely be lost; it means that they are in industries that are getting caught up in Trump’s trade war, making them vulnerable, depending on what happens.
https://www.washingtonpost.com/blogs/pl ... edirect=on

[Svartalf]

LOL, Frump threatening punitive taxes on ALL Chinese imports... soon Merkins will have to live without cell phones, tablets and the like, not to mention a lot of cheap plastic trinkets that make daily life easier... because all those products come from China, and soon will be priced into unavailability.

[Seabass]

Looking forward to seeing how the Republicans blame the wrecked economy on the Democrats.

[L'Emmerdeur]

Looking forward to seeing how the Republicans blame the wrecked economy on the Democrats.

It's worked consistently in the past. They've dined off their mythical status as the 'fiscally responsible' party for decades. Just shout 'TAX AND SPEND!!' enough times and a significant percentage of Americans believe it.

[PsychoSerenity]

As bad as Trump's trade war may be, he's being outdone if you take seriously the no-deal Brexit group's proposals, which our PM seems to be giving in to.They are saying we should have no border checks in the Irish Sea and none on the Northern Ireland border but still have our own customs tariffs and regulations, and if the EU want to put border checks on the Northern Ireland border that's their problem. But it's not the EU's rules, it's World Trade Order rules. And as I understand it, if we refuse to do customs checks on trade in from the EU we'd be completely breaking the WTO rules, effectively making us a rogue state and putting ourselves in trade wars with almost every other nation in the world as they can argue that if the EU trades into the UK with no customs checks and no specified exemption through a free trade agreement, then everyone else should be able to as well. Yet still they claim it will be sunshine and roses.

[cronus]

As bad as Trump's trade war may be, he's being outdone if you take seriously the no-deal Brexit group's proposals, which our PM seems to be giving in to.They are saying we should have no border checks in the Irish Sea and none on the Northern Ireland border but still have our own customs tariffs and regulations, and if the EU want to put border checks on the Northern Ireland border that's their problem. But it's not the EU's rules, it's World Trade Order rules. And as I understand it, if we refuse to do customs checks on trade in from the EU we'd be completely breaking the WTO rules, effectively making us a rogue state and putting ourselves in trade wars with almost every other nation in the world as they can argue that if the EU trades into the UK with no customs checks and no specified exemption through a free trade agreement, then everyone else should be able to as well. Yet still they claim it will be sunshine and roses.

UK can only sustain a third of the population on no imports. At some point it's all going to get rather interesting, here.

[Jason]

They'll go after the pensioners first.