Trump's Trade Follicy

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Volkonski
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Re: Trump's Trade Follicy

#1901

Post by Volkonski » Thu May 23, 2019 1:38 pm

ABC News

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The Trump administration unveils a $16 billion aid package for farmers hurt by the ongoing trade war with China, the second such deal intended to help limit the losses from Chinese tariffs on American goods.
https://t.co/nTPsuePxcY
Similar to the aid package announced last year, farmers can apply for direct payments for crops impacted by the tariffs and USDA will buy surplus products like milk and meat to distribute to food banks around the country. USDA says it will provide $14.5 billion in direct payments calculated based on the estimated impact to each country, as well as spend $1.4 billion to purchase goods and $100 million to develop other markets for U.S. goods.

Agriculture Secretary Sonny Perdue said the money will come from tariffs against Chinese goods that go into the Treasury and then back into programs to distribute the money to farmers.

"China is going to pay for these this 16 billion dollars through tariffs coming in a transfer coming in, and we are doing again through the (Civilian Conservation Corps) program which was authorized as we used last year," Perdue said on Fox Business on Thursday morning. "But actually the tariff money that we are receiving the revenue we are receiving is what the president has intended to fund, the farmers who are being hurt by retaliatory tariffs."

Perdue said the leadership in China is trying to make the trade dispute hurt Trump's base the most and that they're trying to outlast the Trump administration to get a better deal.
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Re: Trump's Trade Follicy

#1902

Post by Slim Cognito » Thu May 23, 2019 1:43 pm

Skipping past the BS that China is paying the tariffs, I thought trump said his tariff money was paying down the debt.
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Re: Trump's Trade Follicy

#1903

Post by fierceredpanda » Thu May 23, 2019 1:49 pm

Slim Cognito wrote:
Thu May 23, 2019 1:43 pm
Skipping past the BS that China is paying the tariffs, I thought trump said his tariff money was paying down the debt.
The tariffs are paying whatever Trump needs them to be paying from one day to the next.
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Re: Trump's Trade Follicy

#1904

Post by Gregg » Thu May 23, 2019 3:13 pm

They ain't paying the 25% price increase at Wal-Mart, Target the the Trump Online Store Oops, I don't think the tariffs apply to anything sold there.
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Re: Trump's Trade Follicy

#1905

Post by Turtle » Thu May 23, 2019 3:50 pm

Money going (pouring in!) directly into the Treasury, how does that work?

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Re: Trump's Trade Follicy

#1906

Post by bob » Thu May 23, 2019 4:21 pm

Turtle wrote:
Thu May 23, 2019 3:50 pm
Money going (pouring in!) directly into the Treasury, how does that work?
E.g., Walmart buys $100M in Chinese goods, writes a $25M check to the U.S. Treasury ("directly"). That's $25M that Chinese companies aren't getting; an indirect payment. QED.

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Re: Trump's Trade Follicy

#1907

Post by DejaMoo » Tue May 28, 2019 3:54 pm

Kentucky farmers hurt by Trump's trade wars won't speak up — they fear GOP backlash
The Republican administration has once again increased tariffs on China. Meanwhile, farmers across the commonwealth continue to struggle from trade deficits inspired by the first round of disputes. Caught in the Republican party’s political crosshairs, farmers are stuck in an environment that has cultivated fear for anyone who dares to speak against the mighty GOP.

Grocery stores and corporate accounts are full of the fruits of our labor while farmers are frightened that at any moment a flood or political dispute could take everything. This $16 billion bailout that the president has promised comes from the chaos of his own making.

Adding insult to injury, the Republican 2020 budget calls for a 15% funding drop for the Department of Agriculture. The USDA budget cuts lower subsidies for crop insurance premiums to 48% from 62% and limits subsidies for growers who make less than $500,000 annually. The 2018 Farm Bill that Senate Majority Leader Mitch McConnell and Agriculture Commissioner Ryan Quarles rant and rave about with their hemp headlines hide their continued pro-corporate policy promises.

Why aren’t we hearing more concern? Because the current administration has made it impossible for farmers to criticize without retaliation from Republican landowners.

A farmer who wrote an opinion piece early last year in response to farmers’ incomes dropping more than 50% since 2013 and highlighted the increase in farmer suicides due to status-quo policies, lost 300 acres of sharecropped land because word got out that he was a Democrat.

Republicans have divided neighbors, and our farmers who dare to go against the grain are siloed for speaking up; that’s why so many remain silent. Come Election Day, I hope our farmers find the confines of the ballot box a place for their own retaliation.
I've heard this bull before.

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Re: Trump's Trade Follicy

#1908

Post by Gregg » Tue May 28, 2019 4:22 pm

For what its worth, $500K gross revenue isn't much for a working farm, and the lower floor for subsides is there to prevent a family from splitting the income of 1 farm into 6 parts to get around maximum amounts per farm (there are still plenty of ways to get around that, of course, just ask Chuck Grassley, Devin Nunnes, et al).

If you're not harvesting $500,000 worth of something, you're probably farming on the side.
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Re: Trump's Trade Follicy

#1909

Post by RTH10260 » Wed May 29, 2019 4:03 pm

Huawei calls on Washington to 'halt illegal action' against the company

By Sherisse Pham, CNN Business
Updated 0901 GMT (1701 HKT) May 29, 2019

Shenzhen (CNN Business)Huawei is pressing on with its lawsuit against the United States, challenging the constitutionality of a US law banning federal agencies from buying its products.

The embattled Chinese tech firm said Wednesday that it wants Washington to "halt illegal action" against it, calling US restrictions on Huawei an attempt to put it out of business.

American politicians are "using the strength of an entire nation to come after a private company," Song Liuping, Huawei's chief legal officer, said in a press conference in Shenzhen.

The Trump administration has waged a global campaign against Huawei, banning US government agencies from doing business with it and urging countries around the world to remove its telecom equipment from their mobile networks. The White House cites national security concerns, saying Beijing could use Huawei equipment to spy on other countries. The company has repeatedly denied any of its products pose a national security risk.

Huawei filed a motion for summary judgment at a US district court in Texas on Tuesday, asking the court to overturn part of the National Defense Authorization Act. The tech company alleges that a portion of the law — which specifically forbids government agencies from using technology from Huawei and its smaller Chinese rival, ZTE (ZTCOF) — violates the US Constitution by singling out an individual or group for punishment without trial.

"The US government has provided no evidence to show that Huawei is a security threat. There is no gun, no smoke. Only speculation," Song said.


https://edition.cnn.com/2019/05/28/tech ... index.html

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Re: Trump's Trade Follicy

#1910

Post by RTH10260 » Thu May 30, 2019 12:26 am

China may restrict rare-earth exports to U.S., Global Times editor says
by Reuters
Tuesday, 28 May 2019 14:25 GMT

HONG KONG, May 28 (Reuters) - China is "seriously considering" restricting rare-earth exports to the United States, the editor in chief of the Chinese tabloid Global Times said on Tuesday.

Rising tensions have led to concern that Beijing will use its dominant position as a supplier of rare earths for leverage in the trade war between the United States and China.

"Based on what I know, China is seriously considering restricting rare earth exports to the U.S. China may also take other countermeasures in the future," Hu Xijin wrote on his Twitter account.

A senior official from China's state planner, the National Development and Reform Commission, said China will give priority to domestic demand but is also willing to meet reasonable demand from other countries for rare-earth resources.

Chinese President Xi Jinping visited a rare-earth company in southern China last week, according to state media reports. The price of shares in rare-earth producers gained amid speculation Xi's visit indicated China was considering using rare earths as a weapon in the trade war.


http://news.trust.org//item/20190528140832-3a6p6/

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Re: Trump's Trade Follicy

#1911

Post by Addie » Thu May 30, 2019 8:54 pm

The Hill
Dow futures plummet after Trump announces new Mexico tariffs

The Dow Jones futures dropped more than 100 points on Thursday after President Trump announced plans to impose tariffs on Mexico until the flow of immigrants to the southern U.S. border is cut off.

The index saw losses of almost 200 points by 8:15 p.m., less than an hour after Trump tweeted to announce a 5 percent tariff on all imports from Mexico that would "gradually increase" until the flow of migrants stopped.

Trump announced Thursday that the duties would go into effect on June 10 and that they would get steeper until the "Illegal Immigration problem is remedied," suggesting a high goal for Mexico's officials to meet before the tariffs would lift.

The tariffs are expected to raise to 25 percent by Oct. 1 if Mexico does not substantially reduce the number of immigrants illegally crossing the U.S.-Mexico border.

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Re: Trump's Trade Follicy

#1912

Post by Orlylicious » Thu May 30, 2019 9:49 pm

Hate to see the economy take a hit, but if it wakes people up to this lying conman vs 4 more years of it, let Donald tariff his little heart out (since we can't stop him anyway).
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Re: Trump's Trade Follicy

#1913

Post by RTH10260 » Thu May 30, 2019 9:51 pm

PS. I wonder how this will prepare the grounds for a successful closing fo the NAFTA2.0 treaty?

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Re: Trump's Trade Follicy

#1914

Post by Orlylicious » Thu May 30, 2019 9:53 pm

Unlikely 8-)

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Re: Trump's Trade Follicy

#1915

Post by HST's Ghost » Fri May 31, 2019 2:42 am

Bit of an update...Grassley is already against it...Sure, why not let the Imp run your trade policy...
11:15 p.m.

Mexican President Andrés Manuel López Obrador says his foreign relations secretary will lead a delegation to seek a peaceful and negotiated solution to U.S. President Donald Trump's threat to impose stiff tariffs on goods from Mexico if the country doesn't do more to slow irregular migration.

López Obrador said late Thursday in a public letter addressed to Trump that "social problems are not solved with duties or coercive measures," and alluded to the United States' history as a nation of immigrants: "The Statue of Liberty is not an empty symbol."

López Obrador wrote that Mexico is doing its part to avoid migration through its territory as much as possible, without violating human rights.

The Mexican leader also urged Trump to "please, remember that I do not lack valor, that I am not a coward nor timorous but rather act according to principles."

https://finance.yahoo.com/news/latest-m ... nance.html
If you read Spanish, Obrador bloviated at length on this in a letter to Drumpf...ending with (some of it quoted above):
López Obrador le le recuerda a Trump, igualmente que el presidente mexicano ] Benito Juárez mantuvo excelentes relaciones con el héroe estadounidense Abraham Lincoln, y Franklin D. Roosvelt "entendió las razones profundas" que llevaron al presidente Lázaro Cárdenas a decidir la expropiación de petróleo en 1938. López Obradir lanza a Trump la pregunta de cómo el país de la fraternidad con los migrantes puede convertirse en un ghetto espacio donde se estigmatiza maltratado, perseguido, expulsado y se anula el derecho a la justicia. "La Estatua de la Libertad no es un símbolo vacío" concluye.
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Re: Trump's Trade Follicy

#1916

Post by tek » Fri May 31, 2019 7:05 am

gonna be dog food in retirement for me if this keeps up..
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Re: Trump's Trade Follicy

#1917

Post by Addie » Fri May 31, 2019 8:54 am

CNBC: John Negroponte: Trump’s new tariff on Mexico is ‘bad politically and bad economically’
TIME: Ready for More Expensive Guac, Beer and Cars? How Trump's Mexico Tariffs Could Affect You
Axios: Trump's Mexico tariffs could decimate the auto industry
Reuters: U.S. suspension of trade program with India 'a done deal': U.S. official

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Re: Trump's Trade Follicy

#1918

Post by Volkonski » Fri May 31, 2019 9:14 am

Will Mexico retaliate?
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Re: Trump's Trade Follicy

#1919

Post by Orlylicious » Fri May 31, 2019 9:48 am

Where are you JPC? What do you think of all this?

:lol:

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Re: Trump's Trade Follicy

#1920

Post by Fiona » Fri May 31, 2019 11:01 am

So in a desperate move to change the narrative from impeachment and Barr lying his ass off he is going to tank the economy? Absolutely brilliant. :yankyank:

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Re: Trump's Trade Follicy

#1921

Post by Volkonski » Fri May 31, 2019 11:37 am

The New York Times

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The Chinese government said on Friday that it was putting together an “unreliable entities list” of foreign companies and people, an apparent first step toward retaliating against the U.S. for denying vital American technology to Chinese companies
https://t.co/fSchOrbzY5
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Re: Trump's Trade Follicy

#1922

Post by Addie » Fri May 31, 2019 12:39 pm

CNBC
Business groups are considering legal action against the White House over Mexico tariffs

U.S. business groups are considering suing the White House over the Trump administration’s new tariffs on Mexican imports.

The powerful U.S. Chamber of Commerce is mulling its legal options in response to the duties, the group’s senior vice president of international affairs, John Murphy, told reporters Friday. Murphy said the group has no choice but to look into every option to push back against the tariff policy.

Business groups more broadly are discussing the possibility of suing the White House, a source told CNBC. A decision on how to proceed is expected by Monday.

While top business organizations have repeatedly slammed tariffs Trump levied on trading partners such as Mexico, Canada and China, a lawsuit would mark a major escalation in their opposition to White House trade policy. ...

The duties could damage key U.S. industries such as auto manufacturing, and crucial 2020 electoral states such as Arizona, Michigan and Texas could feel particularly sharp pain from the tariffs.

The Chamber of Commerce’s Murphy said the tariffs are a new obstacle for ratification of the USMCA.

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Re: Trump's Trade Follicy

#1923

Post by Addie » Fri May 31, 2019 12:48 pm

Bloomberg
Carmakers See $18 Billion Wiped Out by Trump's Mexico Threat

The automotive industry is bearing the brunt of trade-war crossfire again as U.S. President Donald Trump threatens to slap tariffs of as much as 25% on goods from Mexico, a key production hub for carmakers from Mazda Motor Corp. to General Motors Co.

Mexico is the largest source of U.S. vehicle and auto-parts imports, meaning tariffs would increase costs for virtually every major manufacturer. In late night tweets Thursday, Trump warned tariffs would start at 5% on June 10 and increase to 25% on Oct. 1 unless Mexico stops immigrants from entering the U.S. illegally.

A dozen of the world’s largest automakers -- including Ford Motor Co., Toyota Motor Corp. and Volkswagen AG -- lost about $18 billion in market value by the start of regular U.S. trading Friday. The Bloomberg World Auto Manufacturers Index slumped as much as 2.2% to the lowest intraday since July 2016.

“Tariffs will mean higher price tags on cars for sales in U.S. and that will hit sales,” said Seiichi Miura, an analyst at Mitsubishi UFJ Morgan Stanley. A 25% tariff would be worth $86.6 billion annually, which “could cripple the industry and cause major uncertainty,” Emmanuel Rosner, an auto analyst for Deutsche Bank, wrote in a report Friday.

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Re: Trump's Trade Follicy

#1924

Post by Hurtzi » Fri May 31, 2019 1:08 pm

This is what you get when you elect a debile, hateful moron to POTUS. And U.S. Navy sailors openly support him with their MAGA patches. Fear the worst.

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Re: Trump's Trade Follicy

#1925

Post by Volkonski » Fri May 31, 2019 1:10 pm

Well, Trump's Mexico tariffs will slow trade and help shorten the long lines at the ports of entry. :?

Bully boy tactics won't work. Trump is damaging our trade, tourism and our ability to attract top STEM talent. :madguy:
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