Trump's Trade Follicy

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Dan1100
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Re: Trump's Trade Follicy

#1026

Post by Dan1100 » Tue Jul 10, 2018 5:31 pm

Mikedunford wrote:
Tue Jul 10, 2018 2:46 pm
RoadScholar wrote:
Tue Jul 10, 2018 2:40 pm
:shock:
Centralized economies have resources in trade wars that market economies lack.
Culturally the Chinese are better suited. They will be willing to buckle down and suffer a little hardship if their government tell them it is for the greater good. Americans are too selfish for that.


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Re: Trump's Trade Follicy

#1027

Post by Suranis » Tue Jul 10, 2018 5:36 pm

And prop up what industries? He does not control where there will be retaliatory tariffs placed, and he has several different trading partners that are all slamming tariffs on the USA which means dozens of industries are getting affected. China only has one trading partner that's acting like an idiot. The Treasury is broke, so all he can do is tell farmers etc to have a stiff upper lip and endure FO HAMERICA!!! while he takes 2 scoops of ice cream.


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Re: Trump's Trade Follicy

#1028

Post by RTH10260 » Tue Jul 10, 2018 6:28 pm

A mouse against the elephant (sorry Suranis ;) ):
Switzerland challenges 'unjustified' US tariffs at WTO
AFP
news@thelocal.ch
10 July 2018 12:12 CEST+02:00

Switzerland has joined a string of countries launching challenges to Washington's new steel and aluminium tariffs at the World Trade Organization, Bern said on Tuesday.

The Swiss economic affairs ministry said it had formally asked the US for "consultations" over tariffs of 25 percent on steel and 10 percent on aluminium.

Consultations constitute the first step in a full-blown legal challenge before the global trade body.

Read also: The seriously funny side of getting US expats in Switzerland to vote in the midterms

Switzerland, where the organisation is based, had on Monday "submitted a request for consultations with the US as part of WTO dispute settlement proceedings," the ministry said in a statement.


https://www.thelocal.ch/20180710/switze ... ffs-at-wto



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Re: Trump's Trade Follicy

#1029

Post by TollandRCR » Tue Jul 10, 2018 6:45 pm

Good for Switzerland!

Trump told us “trade wars are easy to win.”
I am ready for some victories. Any day now.


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Re: Trump's Trade Follicy

#1030

Post by RoadScholar » Tue Jul 10, 2018 9:56 pm

Don’t hold your breath. We’d miss you!


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Re: Trump's Trade Follicy

#1031

Post by AndyinPA » Wed Jul 11, 2018 11:11 am

Once these markets are gone, they are gone. At what point are these farmers going to realize that? Many of them seem willing to wait for twitler's promise to help, but sooner or later reality is going to hit home. Way too late, I'm guessing.

https://www.dailykos.com/stories/2018/7 ... view-story
Just like Donald Trump has taken away the No. 1 export market for U.S. soybean farmers, he has now done the same U.S. dairy products. In a Tuesday twitter thread, a U.S. Chamber of Commerce senior vice president labeled Trump's tariffs a "DAIRY DISASTER" after Mexico imposed a 25 percent tariff on U.S. dairy products in retaliation for Trump's aluminum and steel tariffs.

"Mexico is the top export market for US dairy products," John G. Murphy wrote. "The US is the largest dairy supplier to Mexico, and Mexico accounts for about one-quarter of US dairy exports."



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Re: Trump's Trade Follicy

#1032

Post by Foggy » Wed Jul 11, 2018 12:33 pm

Murphy needs to use the past tense of his verbs. :|


Hopefully, this will blossom into a snowball.
WWG1WGA

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Dan1100
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Re: Trump's Trade Follicy

#1033

Post by Dan1100 » Wed Jul 11, 2018 2:04 pm

AndyinPA wrote:
Wed Jul 11, 2018 11:11 am
Once these markets are gone, they are gone. At what point are these farmers going to realize that? Many of them seem willing to wait for twitler's promise to help, but sooner or later reality is going to hit home. Way too late, I'm guessing.

https://www.dailykos.com/stories/2018/7 ... view-story
Just like Donald Trump has taken away the No. 1 export market for U.S. soybean farmers, he has now done the same U.S. dairy products. In a Tuesday twitter thread, a U.S. Chamber of Commerce senior vice president labeled Trump's tariffs a "DAIRY DISASTER" after Mexico imposed a 25 percent tariff on U.S. dairy products in retaliation for Trump's aluminum and steel tariffs.

"Mexico is the top export market for US dairy products," John G. Murphy wrote. "The US is the largest dairy supplier to Mexico, and Mexico accounts for about one-quarter of US dairy exports."
My guess is, that at least with dairy farms, the loss of capacity will be more or less permanent. Once those cows are sent to the slaughterhouse to become dog food and hot dogs and the milking equipment gets sold (probably for scrap), those farmers will be out of the dairy business for good. If they are lucky and keep their land, they'll get into the cow-calf beef business, row crops if they are lucky enough to have land suitable for that, and maybe cutting hay. They'll never have the money it takes to restart in the dairy business.


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Re: Trump's Trade Follicy

#1034

Post by bob » Wed Jul 11, 2018 3:47 pm

Politico: Pence launches Midwest damage control mission:
With anxiety rising over Trump’s trade policies, the vice president is stumping for endangered incumbents and reassuring big GOP donors.

Vice President Mike Pence begins a campaign swing through the Midwest on Wednesday designed to fire up the base in three battleground House districts. But there’s also a secondary mission: damage control.

In the face of a trade war that intensified just four days ago, Pence is quietly setting up one-on-one meetings with major Midwestern donors where he is prepared to blunt concerns over an escalating situation that’s beginning to wreak havoc on markets, farmers and employers across the region.

“The cost and impact is being felt by farmers for several weeks now. It’s real. It’s a fact. It’s happening,” said Kirk Leeds, Iowa Soybean Association CEO. “Even if we find a way, between China and the United States, to find a political face-saving compromise, it’s the long-term consequences of the disruption in these trade patterns that we worry about.”

* * *

The timing of the visits, paired with the donor meetings, is the first sign of an administration effort to manage political blowback from a trade war the president started — a confrontation that could prove costly to the GOP’s efforts to hold its majorities in the House and the Senate.

Pence is expected to make his pitch from a position of strength, highlighting President Donald Trump’s choice of Brett Kavanaugh for the next Supreme Court justice and the tax cuts that have benefited top-tier brackets and large-scale employers, a Republican operative with knowledge of the meetings told POLITICO.

In his meetings, the vice president is also expected to make a straight-up appeal to GOP donors to imagine how drastically policies would shift if Democrats won control of Congress.
Hopefully the opposing congressional contenders are taking note, and will say, "Yeah, we'll lower the tariffs so you can stay in business."


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Re: Trump's Trade Follicy

#1035

Post by RVInit » Wed Jul 11, 2018 4:00 pm

So basically Pence is admitting that the tax cuts were, in fact, designed to benefit the wealthy. I want lots of video leaks to come out from these meetings.


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Re: Trump's Trade Follicy

#1036

Post by RTH10260 » Wed Jul 11, 2018 5:24 pm

AndyinPA wrote:
Wed Jul 11, 2018 11:11 am
Once these markets are gone, they are gone. At what point are these farmers going to realize that? Many of them seem willing to wait for twitler's promise to help, but sooner or later reality is going to hit home. Way too late, I'm guessing.

https://www.dailykos.com/stories/2018/7 ... view-story
Just like Donald Trump has taken away the No. 1 export market for U.S. soybean farmers, he has now done the same U.S. dairy products. In a Tuesday twitter thread, a U.S. Chamber of Commerce senior vice president labeled Trump's tariffs a "DAIRY DISASTER" after Mexico imposed a 25 percent tariff on U.S. dairy products in retaliation for Trump's aluminum and steel tariffs.

"Mexico is the top export market for US dairy products," John G. Murphy wrote. "The US is the largest dairy supplier to Mexico, and Mexico accounts for about one-quarter of US dairy exports."
That's the problem, the farmers will be too late to realize their real issue. They sell to wholesalors and are separated one step from the front lines. The international wholesalors themselves will just stop taking from US origins and substitute from outside the US and will have little loss as long as they can offer to their international customer base at acceptable prices.



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Re: Trump's Trade Follicy

#1037

Post by Suranis » Wed Jul 11, 2018 7:02 pm

Boy, when the best idea you have to shore up the base is "UNLEASH MIKE PENSE!!!"


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Re: Trump's Trade Follicy

#1038

Post by Janny in Texas » Wed Jul 11, 2018 7:09 pm

Foggy wrote:
Wed Jul 11, 2018 12:33 pm
Murphy needs to use the past tense of his verbs. :|
Too bad. So sad. :-D



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Re: Trump's Trade Follicy

#1039

Post by GreatGrey » Wed Jul 11, 2018 10:50 pm

So... the price of a baseline Tesla in China just went up $20,000 last weekend.


I am not "someone upthread".
Trump needs to be smashed into some kind of inedible orange pâté.

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Re: Trump's Trade Follicy

#1040

Post by Azastan » Thu Jul 12, 2018 12:28 am

I had to go and buy 20 T-posts today. Rural kind of stuff, ya know?

Last year they were $3.49 each. Today they were $5.49.

Trade wars are easy to win. Just ask the farmers!



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Re: Trump's Trade Follicy

#1041

Post by ZekeB » Thu Jul 12, 2018 6:43 am

Azastan wrote:
Thu Jul 12, 2018 12:28 am
I had to go and buy 20 T-posts today. Rural kind of stuff, ya know?

Last year they were $3.49 each. Today they were $5.49.

Trade wars are easy to win. Just ask the farmers!
But a can of your favorite beverage would only go up a tenth of a cent or so. Just ask Thump. How much does that relate to in regard to a car that uses 750 pounds of steel and aluminum?


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Re: Trump's Trade Follicy

#1042

Post by RTH10260 » Thu Jul 12, 2018 7:47 am

Azastan wrote:
Thu Jul 12, 2018 12:28 am
I had to go and buy 20 T-posts today. Rural kind of stuff, ya know?

Last year they were $3.49 each. Today they were $5.49.

Trade wars are easy to win. Just ask the farmers!
Buy American - **NOT** Canadian !!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Re: Trump's Trade Follicy

#1043

Post by RTH10260 » Thu Jul 12, 2018 7:49 am

ZekeB wrote:
Thu Jul 12, 2018 6:43 am
Azastan wrote:
Thu Jul 12, 2018 12:28 am
I had to go and buy 20 T-posts today. Rural kind of stuff, ya know?

Last year they were $3.49 each. Today they were $5.49.

Trade wars are easy to win. Just ask the farmers!
But a can of your favorite beverage would only go up a tenth of a cent or so. Just ask Thump. How much does that relate to in regard to a car that uses 750 pounds of steel and aluminum?
You are obvious not a heavy drinker of beer or soft drinks, are you ;)



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Re: Trump's Trade Follicy

#1044

Post by Volkonski » Thu Jul 12, 2018 8:32 am

'The US is on track to lose this trade war,' economist Stephen Roach says

https://www.cnbc.com/2018/07/12/the-us- ... -roac.html
"The U.S. is hugely dependent on China as a source for low-cost goods to make ends meet for American consumers. We’re hugely dependent on China to buy our Treasurys to fund our budget deficits, which as you know, are getting larger," Roach explained.

"The idea that China has a math problem misses the fact that America has a few problems of our own."

Roach's take that the U.S. will come away on the losing side was in stark contrast to the president's views on the matter.
Hadn't thought of that. China can stop lending money the US.


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Re: Trump's Trade Follicy

#1045

Post by Volkonski » Thu Jul 12, 2018 8:34 am

After Trump backs it into corner, 'inevitable' China hits US supply chains next, UBS economists say

https://www.cnbc.com/2018/07/11/economi ... lainternal
UBS economists said Wednesday their prior assumption was wrong and they now believe the U.S. trade war with China is escalating and could hurt the economy. Their note followed the Trump administration's announcement Tuesday that it plans tariffs on a further $200 billion in Chinese goods.

The economists said they now see the potential for a trade war that could cause supply-chain disruptions, create inflation and bite into GDP.

They said they had expected just a list of new tariffs, but the U.S. Trade Representative is seeking an expedited process to impose the tariffs as part of its existing case. That means the supplemental action will have its own hearing Aug. 20-23 and could be implemented by the end of September.

"Once the administration implements the additional $200 billion in tariffs, the Chinese government will almost surely retaliate. On this path, the US government would then almost surely retaliate in response, raising the stakes immediately to $450 billion in imports of Chinese goods under tariff," they said in a note.


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Re: Trump's Trade Follicy

#1046

Post by Volkonski » Thu Jul 12, 2018 8:36 am

North Dakota soybean processors hit hard by tariffs as China cancels orders

https://www.cnbc.com/2018/07/11/north-d ... lainternal
The head of the North Dakota Trade Office says Chinese buyers have killed all of their firm orders for food-grade soybeans, valued at $1.2 to $1.5 million. The cancellations happened just prior to and immediately after tariffs went into effect in July.

North Dakota processors usually sell $30 million to $35 million in food-grade beans to China annually - with most of those contracts finalized in the summer months. They get those beans from farmers who they contract with before seeds are planted.

“Our food grade processors are normally working between July and August to lock in contracts with foreign customers,” says Simon Wilson, Executive Director of the North Dakota Trade office. “With China now on the sidelines they are working other Asian countries to see where they can sell the product."

He adds that even if they find new buyers, sales would be less profitable, "as moving to new customers drives lower margins than established ones.”


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Re: Trump's Trade Follicy

#1047

Post by Volkonski » Thu Jul 12, 2018 8:40 am

Whiskey wars: Trade tariffs hit hard in Trump country

https://www.cnbc.com/2018/07/06/whiskey ... lainternal
The Chinese tariffs — retaliation for the Trump administration’s tariffs on $34 billion in Chinese goods — come on top those levied by Europe, Mexico and Canada. The new whiskey tariffs are hitting states like Tennessee and Kentucky, solid red states, the hardest. Trump carried Kentucky by 62.5 percent and Tennessee by 60.7 percent in 2016. Almost all, 95 percent, of the world's bourbon is made in Kentucky. Jack Daniels, however, is made in Tennessee and is the most popular American whiskey in the world.

Bourbon is the last true signature industry for this state, Fred Minnick, the author of ‘Bourbon: The Rise, Fall and Rebirth of American Whiskey,' told CNBC.

“When someone comes to Kentucky, they’re not thinking about fried chicken anymore, they’re thinking about bourbon,” said Minnick.

“And when you start tariffing it, when you start taking away jobs and hurting it from being exported to Spain’s, UK, Mexico, Canada, to wherever, you’re essentially gut-punching the state of Kentucky," he added.


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Re: Trump's Trade Follicy

#1048

Post by Gregg » Thu Jul 12, 2018 12:47 pm

Volkonski wrote:
Thu Jul 12, 2018 8:32 am
'The US is on track to lose this trade war,' economist Stephen Roach says

https://www.cnbc.com/2018/07/12/the-us- ... -roac.html
"The U.S. is hugely dependent on China as a source for low-cost goods to make ends meet for American consumers. We’re hugely dependent on China to buy our Treasurys to fund our budget deficits, which as you know, are getting larger," Roach explained.

"The idea that China has a math problem misses the fact that America has a few problems of our own."

Roach's take that the U.S. will come away on the losing side was in stark contrast to the president's views on the matter.
Hadn't thought of that. China can stop lending money the US.
That's not REALLY an issue, they could pull out of the Treasury markets and that would lower demand which would increase the yield/rates and cause everyone's adjustable mortgages and credit cards to go up....eventually interest rates would rise and that hurts construction, which hurts auto sales which....phucks us all.

I'm thinking the doomsday scenario for the loony right is China cuts off all sales of coal and soybeans. Both are things that hurt them hard and both are things they can get easily from other sources.


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Re: Trump's Trade Follicy

#1049

Post by Gregg » Thu Jul 12, 2018 12:57 pm

Oh no, they didn't say that....we have a major issue here.
Almost all, 95 percent, of the world's bourbon is made in Kentucky.
As a proud native of the Commonwealth, I have to point out that ALL Bourbon is from Kentucky, the thing that makes it Bourbon is the water along a single river and its tributaries originally in Bourbon County, Kentucky. (Other stuff calls itself Bourbon but its not, kind of like Champagne has to be from France...)

Me and Chili Dog just wanted to point that out. :fingerwag:


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Re: Trump's Trade Follicy

#1050

Post by Suranis » Thu Jul 12, 2018 1:51 pm

Off Topic
https://en.wikipedia.org/wiki/Scotch_whisky
Legal definition

As of 23 November 2009, the Scotch Whisky Regulations 2009 (SWR) define and regulate the production, labelling, packaging as well as the advertising of Scotch whisky in the United Kingdom. They replace previous regulations that focused solely on production. International trade agreements have the effect of making some provisions of the SWR apply in various other countries as well as in the UK. The SWR define "Scotch whisky" as whisky that is:[1][3]

Produced at a distillery in Scotland from water and malted barley (to which only whole grains of other cereals may be added) all of which have been:
Processed at that distillery into a mash
Converted at that distillery to a fermentable substrate only by endogenous enzyme systems
Fermented at that distillery only by adding yeast
Distilled at an alcoholic strength by volume of less than 94.8% (190 US proof)
Wholly matured in an excise warehouse in Scotland in oak casks of a capacity not exceeding 700 litres (185 US gal; 154 imp gal) for at least three years
Retaining the colour, aroma, and taste of the raw materials used in, and the method of, its production and maturation
Containing no added substances, other than water and plain (E150A) caramel colouring
Comprising a minimum alcoholic strength by volume of 40% (80 US proof)
https://en.wikipedia.org/wiki/Irish_whiskey
Legal definition

Irish whiskey is a protected European Geographical Indication (GI) under Regulation (EC) No 110/2008.[23] As of 29 January 2016, production, labelling and marketing of Irish whiskey must be verified by the Irish revenue authorities as conforming with the Department of Agriculture's 2014 technical file for Irish whiskey.[24] Key requirements include specifications that:[25]

Irish whiskey must be distilled on the island of Ireland (comprising the Republic of Ireland and Northern Ireland) from a mash of malted cereals with or without whole grains of other cereals and which has been:
saccharified by the diastase of malt contained therein, with or without other natural enzymes;
fermented by the action of yeast;
distilled at an alcoholic strength of less than 94.8% alcohol by volume in such a way that the distillate has an aroma and taste derived from the materials used;
subject to the maturation of the final distillate for at least three years in wooden casks, such as oak, not exceeding 700 litres (185 US gal; 154 imp gal) capacity
The distillate, to which only water and plain caramel colouring may be added (E150a), retains its colour, aroma and taste derived from the production process referred to above
Irish whiskey is to have a minimum alcoholic by volume content of 40%
Individual technical specifications for the three varieties of Irish whiskey, "single pot still", "single malt", "single grain", and "blended" whiskey (a mix of these two or more of these varieties) are also outlined in the technical file.[25] The use of the term "single" in the aforementioned varieties being permissible only if the whiskey is totally distilled on the site of a single distillery.[25]
Maturation only takes place on the island of Ireland

Labelling

There are several regulations governing the labelling of Irish whiskeys. In particular:[25]

Spirit drinks must not be labelled, packaged, sold, advertised or promoted in such a way to suggest they are Irish whiskey or any of the sub -varieties unless they meet the relevant requirements
Any age statement must refer to the age of the youngest whiskey used
Although traditionally spelled with an 'e', Irish whiskey may be marketed as "Irish whisky
People are serious when it comes to Alcohol.


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