The Trump administration raised tariffs on China

FloridaYankee · 2019-05-14T00:43:29.741Z

The president of the United States, after two plus years in office thinks the countries whose goods we place tariffs on pay the tariffs.

Just let that sink in………

Jezcoe · 2019-05-14T10:20:37.133Z

FloridaYankee:

conan:

TPP was what you really thought it was.

So I’m going to say it again. TPP was of those countries to sell America cheap goods while America sell them Boeing Planes that’s made mostly in China.

That was TPP.

Removing tariffs on all U.S. manufactured goods and almost all U.S. farm products (in the countries that signed on to the deal) would have benefitted U.S. producers, no way around it.

There are key concessions in the new trade deal with Canada that was already hashed out in the TPP. Yet… they had to go back to the table to renegotiate NAFTA with no guarantee that Congress would accept it.

JayJay · 2019-05-14T14:22:32.005Z

conan:

Bottom line is those business had been warned about putting all there eggs in one basket…and now they’re holding our foreign policy hostage…well to ■■■■■■■ bad.

The problem is there’s more than one way to address the China issue and Trump chose the worst way imaginable to do it.

But when you’re fed lies as to how “ineffective” the other ways were and when such lies resonate with what you already believe (“I KNEW there were dark globalist forces that were making my life miserable!”) then I can see why you would double down.

And if the stock market is punishing you for it and businesses and farmers are rebelling…you can either learn from that reaction or else too ■■■■■■■ bad when your foreign policy goes to ■■■■■

(Well except when Trump’s FP predictably goes to ■■■■■ we all suffer).

enki · 2019-05-14T14:41:15.203Z

Has anyone checked their 401k lately?

wonderingrover · 2019-05-14T14:47:11.917Z

enki:

Has anyone checked their 401k lately?

I actually rebalanced my portfolio a couple of weeks ago when it looked like this was going to happen. It’s currently weighted more towards bonds than equity for the time being so that I could reduce my exposure to the equity risk in the current environment.

conan · 2019-05-14T15:03:29.006Z

JayJay:

The problem is there’s more than one way to address the China issue and Trump chose the worst way imaginable to do it.

Why didn’t Obama do it his way?..or Bush? We all seen how they did it.

CanadianJudo · 2019-05-14T15:04:30.009Z

Obama tried to make a massive Asia group to combat China.

JayJay · 2019-05-14T15:05:40.384Z

WE have seen how they did it.

You’ve seen the CEC caricature of how they did it.

CanadianJudo · 2019-05-14T15:06:47.374Z

Globalism trying to destroy American sovereignty is what CEC called Obama plan.

JayJay · 2019-05-14T15:11:02.697Z

CanadianJudo:

Globalism trying to destroy American sovereignty is what CEC called Obama plan.

And what we’re seeing the beginnings of now is exactly what I warned would happen…“America First” morphing into “America Alone”.

And if you thought globalism was a rotten deal…you ain’t seen nothing yet.

Unfortunately it was inevitable. The post-World War II system has been breaking down for some time, and just like the post-Bismarck world, we have totally inadequate statesmen in place trying to navigate the transition.

conan · 2019-05-14T15:40:08.428Z

So what’s happening? Looks like stock recouped about half of yesterdays lost.

LucyLou · 2019-05-14T19:46:26.902Z

What has Trump been saying about US Steel?

https://twitter.com/FrankLuntz/status/1128342394947002368?s=20

FloridaYankee · 2019-05-14T20:06:57.095Z

Jezcoe:

FloridaYankee:

conan:

TPP was what you really thought it was.

So I’m going to say it again. TPP was of those countries to sell America cheap goods while America sell them Boeing Planes that’s made mostly in China.

That was TPP.

Removing tariffs on all U.S. manufactured goods and almost all U.S. farm products (in the countries that signed on to the deal) would have benefitted U.S. producers, no way around it.

There are key concessions in the new trade deal with Canada that was already hashed out in the TPP. Yet… they had to go back to the table to renegotiate NAFTA with no guarantee that Congress would accept it.

Governing by spite.

conan · 2019-05-14T21:11:31.318Z

Cool, means steel mills have fired up there engines/doundries and pumping out guilty cheap American steel once again.

LucyLou · 2019-05-14T21:20:53.704Z

How does it mean that?

DOLOOP · 2019-05-14T21:21:04.866Z

LucyLou:

What has Trump been saying about US Steel?

https://twitter.com/FrankLuntz/status/1128342394947002368?s=20

Huh. So US Steel has lost over 50% of its market cap in a year.

Call it a smooth 3 billion dollars.

No worries, someone will come along shortly and let us know how this is a good thing.

conan · 2019-05-14T21:48:43.387Z

From its peak little over a year ago when after Trump impose 10 percent tariffs on China steel?

ycharts.com

United States Steel Price

In depth view into United States Steel Price including historical data from 1991, charts and stats.

OK. Then explain away steel prices under Obama in 2016?

And now that American steel production has reach to 2007 level of the first time.

And libs think this is a bad thing? What happen to those tariffs where going to cost consumer hundreds of dollars for new washing machines etc?

westaussie · 2019-05-15T06:22:01.027Z

What happened to the other half? Still lost?

SottoVoce · 2019-05-15T10:31:58.936Z

It didn’t recovery by a half anyway. 200 is one third of the 600 it lost.

westaussie · 2019-05-15T11:05:02.492Z

In my defence, I was taking Conan’s figure on face value.