Trump's Trade Follicy

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Re: Trump's Trade Follicy

#676

Post by Volkonski »

Six allies condemn Trump tariffs

http://money.cnn.com/2018/06/02/news/ec ... index.html
Top officials from the Group of Seven -- Canada, France, Germany, Italy, Japan and the United Kingdom -- asked US Treasury Secretary Steven Mnuchin to convey their "unanimous concern and disappointment" to the US president, suggesting his recent trade actions could incite uncertainty, dampening the goal of economic growth.

"There was an important difference of opinion," Canadian Finance Minister Bill Morneau told reporters at the closing press conference of the G7 summit in the resort ski town of Whistler, Canada, on Saturday. "The Americans have decided -- in our mind -- to take an action that is not at all constructive. It's actually destructive in our ability to get something done around tariffs on steel and aluminum."

In a joint statement, the six finance ministers, without the support of the United States, called for "decisive action" following the Trump administration's decision to impose tariffs on Canada, the European Union and Mexico this week. Each country has announced its own plans to retaliate against the United States.
Queen Elizabeth should withdraw her invitation to Trump for this summer's visit.


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Re: Trump's Trade Follicy

#677

Post by Mikedunford »

RTH10260 wrote: Sat Jun 02, 2018 2:25 pm What dotus does not know is that pure US cars are not suited for the European and many other markets. Especially in Europe cars must be going "green", the US gas guzlers have no place. While one can import such a unit, usage taxes tend to be high for cars wich are highpowered. Also too dimensions of the larger sized US cars will have difficulty circulating on more narrower Eureopan roads. Parking such a monster becomes a problem. European standard size matches best with US compact models. Most motors in Europe match up with the California rules. US makers would need separate production lines for European targeted production and have shipping costs too. There are reasons why US multis have been producing in Europe with the local knowhow. To note that it was a European conglomerate (Fiat) that rescued the US Chrysler group.
:yeah:

We had a Vauxhall (GM) Astra Estate when we were in the UK. Mid-size wagon, and about as large a car as I'd like to drive on country roads.


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Re: Trump's Trade Follicy

#678

Post by RTH10260 »

back from April 2
Fortune wrote:Car prices across America are about to go up, says the North American CEO of Toyota—perhaps by as much as $400.

New tariffs on steel and aluminum could add anywhere from $130 to $400 to manufacturing costs on cars, says Jim Lentz. And those prices will be passed along to consumers by automakers.

Even though Toyota uses mostly U.S. steel and is likely to get exemptions from the tariffs on the steel it does import, Lentz says the price of domestic steel is likely going to increase.

“We’re already seeing pressure on domestic steel—in some cases up to 20%,” Lentz said.
picked from http://fortune.com/2018/04/02/toyota-ta ... -aluminum/


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Re: Trump's Trade Follicy

#679

Post by Volkonski »

China should rescind Ivana's trademarks. ;)
China: Trade deals in jeopardy if US tariffs are implemented
http://thehill.com/policy/finance/inter ... ariffs-are
China said Sunday that any trade deals currently being discussed with the U.S. will not go into effect if the Trump administration implements proposed tariffs on Chinese goods, according to multiple media reports.

The warning came after the White House said it is moving forward with a plan to implement steep tariffs on Chinese technology, and as officials from both countries held high-level trade talks.

“If the United States introduces trade sanctions including a tariff increase, all the economic and trade achievements negotiated by the two parties will not take effect,” the Chinese government said in a statement to Xinhua state news agency Sunday, The Associated Press reported.


“The achievements reached by China and the United States should be based on the premise that the two sides should meet each other halfway and not fight a trade war,” the statement read.


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Re: Trump's Trade Follicy

#680

Post by Chilidog »

Volkonski wrote: Sun Jun 03, 2018 11:26 am China should rescind Ivana's trademarks. ;)
they already have factories producing cheap knock offs.


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Re: Trump's Trade Follicy

#681

Post by Volkonski »


The New York Times

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Beijing officials refused to pledge any additional purchases from the United States without an American agreement to resolve broader trade issues

10:45 AM - 3 Jun 2018
So, the inexperienced (and internally squabbling) trade negotiators of the Trump administration are at once and at the same time negotiating about trade with China, the NAFTA countries, the EU, the UK and the TPP. Meanwhile the State Department is understaffed and Trump keeps changing direction on trade every few days. No, doesn't seem like a winning approach to the problem.


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Re: Trump's Trade Follicy

#682

Post by Hektor »

I am by no means an expert on negotiating international trade agreements but isn't it just a tad counterproductive to have trade disputes with pretty much every key ally and rival at once?


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Re: Trump's Trade Follicy

#683

Post by tek »

Divide and conquer!

:blink:


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Re: Trump's Trade Follicy

#684

Post by pipistrelle »

Does someone have the Cliff's Notes version of how Obama was so very, very bad with trade?


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Re: Trump's Trade Follicy

#685

Post by Hektor »

Obama was the worst at trade. But everyone else was pretty bad, just not quite so terrible as Obama. Obviously nobody was as good a negotiator as someone who allegedly wrote Art of the Deal, but even someone who was constantly drunk throughout the negotiations would have ended up with a better deal. All previous negotiators were completely incompetent and also hated America. If President Trump becomes President for Life Trump the Chinese will be buying American knockoffs of local brands.


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Re: Trump's Trade Follicy

#686

Post by Turtle »



The Canadians are taking it as an insult that they are being called a threat to US national security.


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Re: Trump's Trade Follicy

#687

Post by Suranis »


Matthew Chapman
‏Verified account @fawfulfan

Believe it or not, Trump's insane proclamation that he will keep tariffs in place until there are no more Mercedes on Fifth Avenue gave me a moment of clarity.

I think I finally understand Trump's economic philosophy now. And we are absolutely screwed.
3:48 AM - 1 Jun 2018

The one thing that you need to understand about Trump is that he is, at his core, a con man with no empathy.

Therefore, he assumes that all other people are also con men with no empathy, and every exchange of goods and services that exists in the world is, on some level, a con.

Trump assumes every transaction in the world — between people, businesses, nation-states, even between two different agencies of the same government — has a winner and a loser, a scammer and a sucker. He believes if you're not ripping someone off, you're getting ripped off.

From an economist's perspective, this is complete nonsense. Unless there are major information asymmetries or distortions of market power, and often even then, most transactions are generally to the mutual benefit of both parties.

Otherwise no deals would ever get made.

But Trump — the man who created a fake university, made stiffed contractors, hired the mob, and filed for bankruptcy six times — cannot believe his.

So he goes out of his way to cherrypick how he sees the world, so that everything we do looks like either a ripoff or a steal.

It's not simply that Trump *doesn't* think the Paris Climate Agreement, Iran nuclear deal, TPP, NAFTA, or luxury cars from Germany are a good deal for America. It's that he *can't* think that.

It's an alien concept to him that a deal other people want with us could also help us.

To Trump's mind, the mere fact other countries sought out these deals with us, and that their own economies benefit, is unassailable proof we got ripped off.

He can't see the evidence they helped us too. His mind will only cherry-pick potential ways it could be bad for us.

This is why Trump will never, ever, be able to negotiate with the rest of the world. He doesn't believe in mutual benefit.

The second anyone tells him "this is your end of the deal" he'll rip it up. He believes only one party can have an end of the deal, and it shouldn't be him.

So folks, I hate to tell you this, but he's only getting started.

He will forego billions, maybe trillions, of dollars in world trade. He will forego bilateral security agreements. And if he ever gets something from another nation it will be by force.

As I said: we're screwed.

And we're not just screwed on foreign policy, but domestic. This explains his behavior over DACA, spiking two bipartisan deals even though they were what he asked for.

He assumed if Democrats were willing to talk, his deal wasn't ripping them off, ergo it would rip him off.

That implies if Democrats win Congress, we are going to enter an all-out legislative standstill like we've never before seen.

Our system is entirely reliant on compromise and compromise isn't compatible with Trump's beliefs. We will struggle to pass even basic reauthorizations.

So yeah: our nightmare is not going to end until we get this pathological con man out of office.

He is not just bad at being president, he has a defective way of seeing the world that is not compatible with being president.

And we will pay for it.


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Re: Trump's Trade Follicy

#688

Post by Foggy »

That is brilliant and accurate analysis, Mouse Dude. That was my instinctive feeling on November 9 and it has only been reinforced since then.


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Re: Trump's Trade Follicy

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Post by Sam the Centipede »

So the hypothesis is that Trump believes every deal must have a winner and a loser (never two winners), and if the other side is satisfied, they clearly believe they're winning, which means his side is losing, which makes it a bad deal.

That certainly fits some of his behavior patterns. But his lust for revenge on his enemies (even if they were his friends a few weeks before but have failed to show obsequious, unquestioning loyalty to his whims and interests) is also a factor.

To think that sixty million plus Americans thought preferred him as their President. Oh dear.


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Re: Trump's Trade Follicy

#690

Post by TollandRCR »

Turtle wrote: Sun Jun 03, 2018 6:42 pm The Canadians are taking it as an insult that they are being called a threat to US national security.
As they should.


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Re: Trump's Trade Follicy

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Post by RTH10260 »

Sam the Centipede wrote: Mon Jun 04, 2018 6:43 am So the hypothesis is that Trump believes every deal must have a winner and a loser (never two winners), and if the other side is satisfied, they clearly believe they're winning, which means his side is losing, which makes it a bad deal.

That certainly fits some of his behavior patterns. But his lust for revenge on his enemies (even if they were his friends a few weeks before but have failed to show obsequious, unquestioning loyalty to his whims and interests) is also a factor.

To think that sixty million plus Americans thought preferred him as their President. Oh dear.
Implicitely he has to admit that he was not the bigliest yuugest deal maker of all times :blackeye:


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Re: Trump's Trade Follicy

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Post by Addie »

CNN
Mexico imposes tariffs on $3 billion worth of US exports

In retaliation for the Trump administration announcing tariffs on steel and aluminum imports from Mexico and much of the rest of the world, Mexico Tuesday imposed a series of tariffs against US exports to its market valued at $3 billion. They'll hike the price of products including pork, apples, potatoes, bourbon as well as different types of cheese.

The tariffs range between 15% and 25%, and could raise the price of US goods by that amount, cutting deeply into US exports to its neighbor.

"It is necessary and urgent to impose measures equivalent to the measures implemented by" the US, said the statement issued by the Mexican government. Mexico had signaled last week that it intended to retaliate against the US steel and aluminum tariffs. ...

In addition to the agricultural products and bourbon, Mexico imposed tariffs on a variety of US steel products exports.

While Mexico exports more goods and services to the US than it buys, it is also the second largest market for US exports, buying $277 billion worth of US goods and services last year, according to the Commerce Department. ...

For example Mexico is the largest market for US pork exports according to the National Pork Producers Council, an industry trade group. It says that 25% of US pork exports last year went to Mexico.


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Re: Trump's Trade Follicy

#693

Post by Notorial Dissent »

OMBG!!! Like this is any kind surprise when you think about it. SIGH!!!


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Re: Trump's Trade Follicy

#694

Post by jemcanada »

Trump thinks Canada is a national security threat because he’s accusing us of burning down the White House during the War of 1812. :doh: :brickwallsmall:



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Re: Trump's Trade Follicy

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Post by kate520 »

Notorial Dissent wrote: Wed Jun 06, 2018 3:59 pm OMBG!!! Like this is any kind surprise when you think about it. SIGH!!!
What did he think those countries were gonna do, roll over? Moron.


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Re: Trump's Trade Follicy

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Post by tek »

at the local non-big-box lumberyard today, most of the chatter was about lumber going even higher.. and homebuilding coming to a screeching halt.. it hasn't so far because inventory is low, but the people directly affected by it were saying there isn't any gas left in the market argument.. prices have risen about as much as they can..


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Re: Trump's Trade Follicy

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Post by TollandRCR »

kate520 wrote: Wed Jun 06, 2018 4:54 pm
Notorial Dissent wrote: Wed Jun 06, 2018 3:59 pm OMBG!!! Like this is any kind surprise when you think about it. SIGH!!!
What did he think those countries were gonna do, roll over? Moron.
China has already described its retaliatory tariff plans. Other countries may also have done so. Maybe Fox News did not cover that.

I liked China's rationale. Taxing Bourbon because of Mitch McConnell!


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Re: Trump's Trade Follicy

#698

Post by ZekeB »

Cheese will affect California and Wisconsin. Probably more California than Wisconsin. That one I don’t quite understand.


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Re: Trump's Trade Follicy

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Post by Estiveo »

ZekeB wrote: Wed Jun 06, 2018 5:38 pm Cheese will affect California and Wisconsin. Probably more California than Wisconsin. That one I don’t quite understand.
Hits California's republican farming counties, not the democrat coastal elites.


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Re: Trump's Trade Follicy

#700

Post by ZekeB »

Ahhh.... gotcha!


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