Ryan Pickrell on April 4, 2018
President Donald Trump said Tuesday that the trade war with China was lost many years ago, stressing that the current trade spat with Beijing is not a trade war but an apparent attempt to reduce the serious damage to the American economy.
“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” Trump tweeted Wednesday morning. “Now, we have a Trade Deficit of $500 billion a year, with Intellectual Property Theft of another $300 billion, We cannot let this continue!”
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
The president announced tariffs on foreign-made steel and aluminum early last month, leading China to impose tariffs on roughly $3 billion in annual U.S. exports to China.
Towards the end of March, Trump revealed plans to impose punitive trade penalties on Chinese exports in response to alleged Chinese theft of U.S. intellectual property and forced technology transfers. The Office of the U.S. Trade Representative published Tuesday a list of about 1,300 Chinese products, the annual exports for which total around $50 billion.
China responded Wednesday by announcing tariffs on about $50 billion in annual U.S. exports to China. Beijing has warned that while it does not want a trade war, it does not intend to lose one.
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Looking at the trajectory of the stock market from March of 2009 through Dec. of 2018 it was increasingly positive. The momentum and economic factors were in place when Trump took over and it continued through 2018. Now that the economic factors are squarely on Trump and his policies, there is great uncertainty which is causing great volatility within the market. The lack of clear direction from Washington had lead the market in a negative direction for a whole quarter for the first time in that 9 year span.
You fail to mention the recovery of the DOW within a couple of days after each drop. You may want to look at where the DOW was on Obama’s last day in office, then compare it to where it is today, it’s still at a record high, and President Trump is the reason for the economic boom. Seriously poppDavid are you really that ignorant, or just that bitter?
Trump gives a speech at the World Economic Forum and the Dow drops 500 points in 2 days.
He gives the State of the Union and the Dow drops 1700 points in 5 days.
He congratulates Putin, fires McMaster and hires Bolton and the Dow drops 1100 points over 3 days.
Trump announces a tariff on China and between March 9 and March 23 the Dow drops 1800 points.
Trump slams Amazon on March 29 and the DOW drops 500 points.
When he opens his mouth, America takes it in the gut.
Is that what “winning” looks like?
The Nike shoe AND the knock-off are likely made in the same factory. duh
Please explain how the trade deficit effect you? I expect you did not buy any product directly from a Chinese manufacture. But rather bought it from a retail outlet here in the US, which was delivered to the retailer by an American trucking company, etc. So for every dollar of product imported in to the US added several dollars to the US economy.
But all the tariffs that China has on the goods we send over there is OK. And when Nike comes out with a new shoe within about 2 weeks you will be able to buy a Chinese made copy on the streets of
Beiging. Is that OK?
Then, how do we eliminate a yearly 500 billion trade deficit ? That can not continue.
I am glad that the people here are willing to allow our economy to slow and our standard of living be lowered to fight a fictional battle. As much as Trump wants to think this is an US verses THEM scenario, we are all in the global economy together. No one is untouched by the global nature of the world. The rare exception may be the Amish community. Everyone else either works in an industry that either sells product the ultimately leaves this country or uses a resource or product that was made outside of our borders.
Trade is not a 1 for 1 proposition. You spend money at the grocer and they do not spend money on you, but both parties are pleased with the exchange.
If the average person really cared about the local economy, they would stay away from Walmart and shop the local merchants instead. The reality and basic economic principle is that all economies are personal. We will ultimately make the decision that is must beneficial to our household.
Trump’s doing the right thing. Things could get nasty, so hang on!
The Chinese are happy as long as they’re robbing us blind but let us try to even the field and they’re crying foul. Do we really need the cheap knockoffs or the poisoned foods?
Let them eat their cheap TVs and other appliances!
Trump gives a speech at the World Economic Forum and the Dow drops 500 points in 2 days.
He gives the State of the Union and the Dow drops 1700 points in 5 days.
He congratulates Putin, fires McMaster and hires Bolton and the Dow drops 1100 points over 3 days.
Trump announces a tariff on China and between March 9 and March 23 the Dow drops 1800 points.
Trump slams Amazon on March 29 and the DOW drops 500 points.
When he opens his mouth, America takes it in the gut.
Is that what “winning” looks like?
You fail to mention the recovery of the DOW within a couple of days after each drop. You may want to look at where the DOW was on Obama’s last day in office, then compare it to where it is today, it’s still at a record high, and President Trump is the reason for the economic boom. Seriously poppDavid are you really that ignorant, or just that bitter?
Looking at the trajectory of the stock market from March of 2009 through Dec. of 2018 it was increasingly positive. The momentum and economic factors were in place when Trump took over and it continued through 2018. Now that the economic factors are squarely on Trump and his policies, there is great uncertainty which is causing great volatility within the market. The lack of clear direction from Washington had lead the market in a negative direction for a whole quarter for the first time in that 9 year span.
I am glad that the people here are willing to allow our economy to slow and our standard of living be lowered to fight a fictional battle. As much as Trump wants to think this is an US verses THEM scenario, we are all in the global economy together. No one is untouched by the global nature of the world. The rare exception may be the Amish community. Everyone else either works in an industry that either sells product the ultimately leaves this country or uses a resource or product that was made outside of our borders.
Trade is not a 1 for 1 proposition. You spend money at the grocer and they do not spend money on you, but both parties are pleased with the exchange.
If the average person really cared about the local economy, they would stay away from Walmart and shop the local merchants instead. The reality and basic economic principle is that all economies are personal. We will ultimately make the decision that is must beneficial to our household.
Then, how do we eliminate a yearly 500 billion trade deficit ? That can not continue.
Please explain how the trade deficit effect you? I expect you did not buy any product directly from a Chinese manufacture. But rather bought it from a retail outlet here in the US, which was delivered to the retailer by an American trucking company, etc. So for every dollar of product imported in to the US added several dollars to the US economy.
But all the tariffs that China has on the goods we send over there is OK. And when Nike comes out with a new shoe within about 2 weeks you will be able to buy a Chinese made copy on the streets of
Beiging. Is that OK?
The Nike shoe AND the knock-off are likely made in the same factory. duh
Trump’s doing the right thing. Things could get nasty, so hang on!
The Chinese are happy as long as they’re robbing us blind but let us try to even the field and they’re crying foul. Do we really need the cheap knockoffs or the poisoned foods?
Let them eat their cheap TVs and other appliances!