China imposes tariffs on more than 125 US imports including fruit and pork as fears of trade war grow - https://www.mirror.co.uk/news/world-...ports-12288162
If this spreads to Europe and the UK then watch inflation rip higher.
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China imposes tariffs on more than 125 US imports including fruit and pork as fears of trade war grow - https://www.mirror.co.uk/news/world-...ports-12288162
If this spreads to Europe and the UK then watch inflation rip higher.
Why would this happen? I thought all this protectionist make (insert country of choice) return to its former greatness had only an upside. I suppose the great economic powers, US, China, EU can fight it out and prosper when the weaker economic blocs have withered though.Quote:
Originally Posted by Organ Morgan.
It's fairer, as previously the US were getting screwed.Quote:
Originally Posted by cyril evans awaydays
Amazon next on the list?
I't will make America poorer and China will probably end up buying even more of the debt that Trump and the Republicans have created by reducing tax revenues and massively increasing spending. Then again if there is a real trade war rather than the posturing we are seeing here then China's biggest leverage is to stop buying that debt. He seems to be running the country like his businesses, massive gearing and leave others to pick up any failures.Quote:
Originally Posted by Wales-Bales
Perhaps Trump's four dimensional chess is thinking that China will own so much of the USA by the end of his tenure that they will have a vested economic interest in making America great again!
What is he going to do to Amazon? Try to get back the $150k the Trump campaign spent with them?
Are you saying Trump is a Dumbo when it comes to Economics?Quote:
Originally Posted by cyril evans awaydays
He's filed for bankruptcy six times (but he counts three of them as just the one).Quote:
Originally Posted by Wales-Bales
In that case I won't be buying my next penthouse from him!Quote:
Originally Posted by lardy
I didn't realise that it was still on the shelves.Quote:
Originally Posted by Wales-Bales
hes paying high risk poker
This tit-for-tat tariff imposition has escalated hugely in the past four days.
Trump pushes back on fears of a trade war with China - https://www.washingtonpost.com/world...=.dab9f672c247
US imposed tariffs on some Chinese imports a week ago to the value of $3 billion, China responded in kind. Then the Yanks upped the ante by slapping $50 billion worth of tariffs on a wide raft of Chinese imports, China once again responded in kind. Now it seems Trump is seeking to find another $100 billion of Chinese stuff to place tariffs on. China wouldn't be able to reciprocate that same amount because the total value of all their US imports amount to $130 billion.
Donald Trump considering new $100bn tariff on Chinese goods as trade feud escalates: https://www.theguardian.com/us-news/...al-100-billion
China may not need be able to reciprocate in monetary trade terms though as it may have other levers. It will be interesting to see whether the US Republican Party gearing up for 2018 mid-term elections or the Communist Party of the People's Republic of China, which has just allowed Xi Jinping to potentially become divine leader for life, blinks first I guess. Still as Donny says trade wars are easy so it must be China yeh?Quote:
Originally Posted by Organ Morgan.
China launched a petroyuan oil futures exchange late last month. It's seen by many as a big challenge to the petrodollar and with it the USD reserve currency status. Whether punishment for doing so is what's really behind the tariffs or a coincidence we can only speculate. China could retaliate any number of ways to another $100 billion of tariffs by Donny Dotard (or, more accurately, his handlers). They could reduce the US debt they hold, or devalue the yuan. (Trump as presidential candidate said he would denounce China as a currency manipulator on his first day in office - he lied.) China controls virtually all of the world's rare earth metals production. Denying the US access to them would be a big club to wield. An even bigger one would be to hint at plans to back their currency with precious metals and with it become the only non-fiat currency worldwide.