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DonViejo

(60,536 posts) Fri Jun 22, 2018, 12:56 PM Jun 2018

Trump Hit World With Tariffs, And Now World Strikes Back In Trade Fight

By PAUL WISEMAN | June 22, 2018 8:39 am

WASHINGTON (AP) — The United States attacked first, imposing tariffs on steel and aluminum from around the globe and threatening to hit tens of billions of dollars in Chinese products. Now, the world is punching back.

The European Union is set Friday to slap tariffs on $3.4 billion in American products, from whiskey and motorcycles to peanuts and cranberries. India and Turkey have already targeted U.S. products, ranging from rice to autos to sunscreen.

And the highest-stakes fight still looms: In two weeks, the United States is to start taxing $34 billion in Chinese goods. Beijing has vowed to immediately retaliate with its own tariffs on U.S. soybeans and other farm products in a direct shot at President Donald Trump’s supporters in America’s heartland.

The tit-for-tat conflict between the United States and China — the world’s two largest economies — is poised to escalate from there. The rhetoric is already intensifying.

“We oppose the act of extreme pressure and blackmail by swinging the big stick of trade protectionism,” a spokesman for China’s Commerce Ministry said Thursday. “The U.S. is abusing the tariff methods and starting trade wars all around the world.”

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https://talkingpointsmemo.com/news/trump-trade-fight-international-tariffs

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Trump Hit World With Tariffs, And Now World Strikes Back In Trade Fight (Original Post) DonViejo Jun 2018 OP

I read a month ago that China had stopped buying US soybeans. Have not heard of any resumption. Bernardo de La Paz Jun 2018 #1

I heard I think it yesterday duforsure Jun 2018 #4

Round 1 starts...and guess who the loser is going to be here? SWBTATTReg Jun 2018 #2

Has anyone noticed price increases for everyday items? bearsfootball516 Jun 2018 #3

Bernardo de La Paz

(49,005 posts)

1. I read a month ago that China had stopped buying US soybeans. Have not heard of any resumption.

Reply to DonViejo (Original post)

Fri Jun 22, 2018, 01:03 PM

Jun 2018

They are alternate sourcing from Brazil and Canada. Usually China purchases about $13 billion in soybeans. It will devastate some parts of Trumplandia, but Democrats will be hurt too, as will the economy.

China is right. Trump's regime has started a six-front trade war around the globe.

duforsure

(11,885 posts)

4. I heard I think it yesterday

Reply to Bernardo de La Paz (Reply #1)

Fri Jun 22, 2018, 02:05 PM

Jun 2018

China has ordered their people to plant a lot more soybeans to replace what they were buying here.

SWBTATTReg

(22,133 posts)

2. Round 1 starts...and guess who the loser is going to be here?

Reply to DonViejo (Original post)

Fri Jun 22, 2018, 01:08 PM

Jun 2018

The consumer and the worker(s) who produce these products. And what gets me here is that for the most part, the free markets determine the winners and losers, not governmental edicts...markets are way to big for a single country to really have a big impact, which rump should realize.

He's hurting his own voters, since a lot of retail outlets such as Walmart's etc. have a large majority of their products made in China, India, and the like (where rump voters shop). So in essence, billionaires attacking billionaires, which results in lots of little people on both sides of the isle losing jobs, etc.

Thanks rump!

bearsfootball516

(6,377 posts)

3. Has anyone noticed price increases for everyday items?

Reply to DonViejo (Original post)

Fri Jun 22, 2018, 01:10 PM

Jun 2018

The Coke and Pepsi in the vending machines where I work had a slight increase, which I assume is due to the aluminum tariffs, but I haven't noticed any other increases yet.

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