China is considering canceling this week’s trade talks after Trump’s tariffs threat

[DeluxAuto]

https://www.cnbc.com/2019/05/06/chi...s-after-trump-tariffs-threat-sources-say.html

China may back out of trade talks scheduled for this week with U.S. officials after President Donald Trump threatened Beijing with increased tariffs. Trump said in a Sunday afternoon Twitter post that the current 10% tariffs on $200 billion worth of Chinese goods will rise to 25% on Friday. He also threatened to impose 25% levies on an additional $325 billion of Chinese goods “shortly.” Chinese Vice Premier Liu He had planned to bring a large delegation to Washington on Wednesday to hash out a trade deal — and there’d been talk in recent days that something resembling a deal could result. Instead, two sources briefed on the talks said the Chinese side may back out of this week’s negotiations. That was pegged to Trump’s new threats, they said, which abandon a six-month truce after Beijing waffled on some previously discussed commitments. One source said the Chinese vice premier will likely cancel the trip he’d planned for himself and a 100-person delegation for the final round of talks that U.S. officials had previously said could yield a deal by Friday. Chinese officials canceled a trip in late September 2018 in similar circumstances.

 

[Mello_SixtyNine]

My hope is that they finally work out a deal so my Apple stock will spike up.

 

[RobDownSouth]

This tariff will most severely impact the frequent Wal-Mart shopper, essentially Trump's core constituency, the hardest.

Good.

 

[bellisarius]

Their economy is tanking and they want to play 'tough guy?'

 

[RobDownSouth]

Let's just understand one thing here- Trump is threatening tariffs on ALL Chinese goods, this is his final threat - he has nowhere to go from 100% - so let's review the concessions that we have received from China from all the previous Trump threats and subsequent implementation of punitive tariffs: Nothing. Less than nothing actually, the US has been hit by reciprocal tariffs and gained nothing.

It'll be average US consumers that will be left paying 5-10% more on purchases for literally no gain.

but...but...Trade Wars Are Easy!

 

[phrodeau]

Yup, this is why Trump should be re-elected; so he can finally get around to making a trade deal with China, a peace deal in the Middle East, and nuclear deals with North Korea and Iran. And replace Obamacare. And build a wall.

 

[phrodeau]

And rebuild our infrastructure. And reduce prescription drug costs. And figure out what’s going on with Muslims.

 

[Hal9000_]

Maga!!!

 

[IrezumiKiss]

Yup, this is why Trump should be re-elected; so he can finally get around to making a trade deal with China, a peace deal in the Middle East, and nuclear deals with North Korea and Iran. And replace Obamacare. And build a wall.

And rebuild our infrastructure. And reduce prescription drug costs. And figure out what’s going on with Muslims.

Maga!!!

 

[SpeareChucker]

Betty, did you go off your meds?


I'd love to 'negotiate' with you, or better yet, play some poker since you seem to be utterly clueless.

 

[SpeareChucker]

And rebuild our infrastructure. And reduce prescription drug costs. And figure out what’s going on with Muslims.

Why did you bring up President Obama' failures?

Did you take Betty's meds?

 

[BotanyBoy]

Good, fuck China.

 

[zipman]

Trump says that China is paying the tariffs to the US.

But we all know that isn't true, it is US consumers who are paying it.

Which act as an additional tax.

Unless you're a republican.

 

[Sean]

Their economy is tanking and they want to play 'tough guy?'

6% growth is "tanking"? Jesus, the US must be in a depression then.

 

[Dribble]

6% growth is "tanking"? Jesus, the US must be in a depression then.

If you consider $15 an hr good pay...then yea lots of jobs. If you want to support a family...lol...good luck finding work. Especially in Republican right to work states.

 

[cowslinger64]

Similar to the wall...


The koolaid drinkers rejoice!! Makin Amurica great!

https://www.yahoo.com/news/larry-kudlow-trump-china-tariffs-174415868.html

White House chief economic adviser Larry Kudlow undercut President Donald Trump’s claim that China will pay for tariffs imposed by the administration on goods entering the U.S., admitting that Americans will end up footing the bill.

In an interview with Fox News’ Chris Wallace, Kudlow, who serves as the head of the National Economic Council, was pressed on the validity of the president’s assertion.

“It’s not China that pays tariffs,” Wallace said. “It’s the American importers, the American companies that pay what in effect is a tax increase and oftentimes passes it on to U.S. consumers.”

“Fair enough,” Kudlow conceded. “In fact, both sides will pay.”

Doubling down on his fact check, Wallace again stressed that a tariff on goods entering the country wouldn’t be paid by the Chinese.

“No, but the Chinese will suffer GDP losses and so forth with respect to a diminishing export market,” Kudlow acknowledged. He added that “to some extent,” American businesses and consumers would end up paying.

“Again, both sides will suffer on this.

 

[doowdniw]

"I alone can fix this."
"What have you got to lose?"

 

[someoneyouknow]

China has already stopped buying soybeans and pork from us, which is devastating farmers. That paltry $12 billion in corporate welfare the con artist doled out amounted to a few cents per bushel of soybeans or hog.

February

“For U.S. soy producers, if the trade war ends tomorrow, we will likely not get back to where we were before the trade war started,” Mark Albertson, director of strategic market development at the Illinois Soybean Association, told the South China Morning Post (SCMP). “It’s not just alarming, it’s terrifying.”

Albertson explained that after a recent trade mission to China, he became convinced that the Asian superpower didn’t really need U.S. producers. He pointed out that Beijing had quickly managed to replace the soybeans it bought from American farmers as trade tensions escalated last year, turning to Brazilian and synthetic alternatives.

John Wesley Boyd, a mid-scale farmer from southern Virginia, shared similar concerns. “I don’t see the pendulum swinging back towards me as a producer in the field,” he warned, although he voiced hope that China’s pledge would be positive. “We’re just not in a position to play those types of political games,” he added.​

https://www.newsweek.com/american-soybean-farmers-trump-trade-war-china-1317323

May

Well, basically, the situation has not improved for myself and other American farmers. The price is still around $8 a bushel. And President Trump said that all of this stuff would be over in a few months. And this week, he came out with something else with China. And right now, it's difficult for farmers to actually borrow money for farm operating loans. If you try to tell a banker that the going rate is $8 dollars a bushel and you really don't see any relief in sight, it makes it difficult for farmers like myself to borrow farm operating money, to make plans.

And, you know, the president says to just wait it out. But I'm not in the position to wait it out. You know, we have to plan a season ahead. I just got off my tractor and hopped in here on this interview so I can talk about this because right now, I'm actually still planting soybeans. And I thought as a farmer that the price would break through by now. But right now, we're at a stalemate with the president. And the price has not improved for myself and other American farmers.
. . .
I haven't seen a dime of that money. And I've been calling and calling USDA. And they continue to say that the funds are in process, and the funds are going to be sent to me. I have yet to receive these funds. And I've reached out to the agriculture secretary, Sonny Perdue, to ask him for a meeting to see why the payments are late to farmers like myself and other small-scale farmers around the country. And that meeting has fell upon deaf ears and blind eyes.​

https://www.npr.org/2019/05/11/722476220/soybean-farmer-loses-from-retaliatory-tariffs-with-no-bailout-funds-in-sight

 

[doowdniw]

I wonder if anyone has bothered to try to explain to the liar in chief the relationship of tariffs to inflation. I doubt he could wrap his tiny little brain around that one.

 

[OldJourno]

Let's just understand one thing here- Trump is threatening tariffs on ALL Chinese goods, this is his final threat - he has nowhere to go from 100% - so let's review the concessions that we have received from China from all the previous Trump threats and subsequent implementation of punitive tariffs: Nothing. Less than nothing actually, the US has been hit by reciprocal tariffs and gained nothing.

It'll be average US consumers that will be left paying 5-10% more on purchases for literally no gain.

but...but...Trade Wars Are Easy!

Yeah, I can hear our economy grinding to a halt right now.