Trump threatens China with $200 billion in additional tariffs if Beijing doesn't bend to U.S. demand
Source: WAPO
President Trump said Monday that he has asked advisers to identify $200 billion worth of Chinese goods that would face tariffs if China does not bend to U.S. trade demands.
Last week, the White House announced it would go forward with $50 billion in tariffs, prompting China to retaliate with a similar levy on U.S. goods. Trump reacted with fury to the response and indicated he will go beyond Mondays $200 billion threat if China retaliates again.
This latest action by China clearly indicates its determination to keep the United States at a permanent and unfair disadvantage, Trump said Monday.
Read more: https://www.washingtonpost.com/news/business/wp/2018/06/18/trump-threatens-china-with-200-billion-in-additional-tariffs-if-beijing-doesnt-bend-to-u-s-demands/?utm_term=.978a63db5e0b
dhol82
(9,353 posts)htuttle
(23,738 posts)We're into them for over a trillion dollars.
I suppose Trump thinks he can just walk away from this debt like every other debt he's ever had, but the rest of us are stuck with it.
Let's hope that Trump's game of oneupmanship doesn't lead to them calling it in.
kimbutgar
(21,162 posts)Power to raise funds in the future.
SergeStorms
(19,201 posts)Trump is playing a very dangerous and fool-hearty game with the Chinese. He can threaten China with more tariffs, but the Chinese hold more cards than Trump, and they're much higher ranking cards than Trump holds.
Stupid, stupid, stupid. The fake "tough guy" is going to end up destroying "his" amazing economy. Of course everything will be blamed on the Democrats, Obama in particular. Little Donnie only takes responsibility when things go right. Blame? Well, that's everyone else's problem, because Little Donnie never makes mistakes.
keithbvadu2
(36,828 posts)Donald recommended defaulting on the national debt.
Negotiating with the creditors to take less money.
Dont forget that much of Americas debt is owned by Americans, not just the Chinese and other foreigners .
Donald Trump's Glorious Threat To Default On The National Debt Is Just The Conventional Wisdom
https://www.forbes.com/sites/timworstall/2016/05/07/donald-trumps-glorious-threat-to-default-on-the-national-debt-is-just-the-conventional-wisdom/#59ab980ca367
Voltaire2
(13,061 posts)We are constitutionally obliged to meet our debt obligations.
keithbvadu2
(36,828 posts)As if Dotard cares about the Constitution.
Trump started his Presidency by lying before God with his hand on the Bible.
"I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect, and defend the Constitution of the United States."
Emoluments
roamer65
(36,745 posts)Inflation will go through the roof.
kimbutgar
(21,162 posts)They cant blame President Obama. And when the economy starts tanking its all on their lying idiot boy.
Pluvious
(4,313 posts)Just to upset the "Libs."
Yes, they are really that batshit insane with their hatred.
kimbutgar
(21,162 posts)He said America would be great then.
Shrike47
(6,913 posts)In his bullying he is not used to dealing with an opponent with resources.
PSPS
(13,601 posts)Bernardo de La Paz
(49,005 posts)canetoad
(17,168 posts)Two years for a bright, savvy president to reverse a failing economy. Two years for a dullard (and dotard) to trash a healthy economy. Five months to go.
Yavin4
(35,441 posts)Make Ivanka's crappy clothes and other shit for free.
no_hypocrisy
(46,122 posts)Suck it up Bentonville.
beachbum bob
(10,437 posts)Economy into a spiral..trump still doesn't get it
louis c
(8,652 posts)All your items have just increased by 80%. Oh, and by the way, all you Trump voters, you just got fucked.
beachbum bob
(10,437 posts)Btw, we aren't going to buy US treasuries....bam, interest rates zoom, markets crash...trump will blame democrats and Americans will kick out even more republicans in November
sinkingfeeling
(51,457 posts)TexasBushwhacker
(20,202 posts)they'll raise prices 30% and blame it all on the tariffs.
RDANGELO
(3,433 posts)If nobody backs down, were heading for global war.
Some time ago,...
Insane and stupid Domestic policy and stupidity will result in the party in control being thrown out.
Insane and stupid International policy will get us in a war.
And if China decides that they want to get rid of the American bonds - inflation will be one problem, but I suspect that there will be a host more including huge job loses. It potential could also lead to the US Dollar no long being considered the world currency... and that will have an impact.
Just thinking...
bucolic_frolic
(43,182 posts)We import more. Tariffs hurt our people more than our tariffs hurt theirs.
With Trump we lose. We don't get the goods we want, we pay more, the trade deficit rises, and we sell less overseas.
Cutting your income when you're in the red never works out well.
The way out of a trade deficit is just like Lester Thurow said in the 1980s: invest in R&D to develop and produce cutting-edge proprietary products that other countries want. That way we sell more. Trump's way is to buy less, pay more for it, and sell less too.
roamer65
(36,745 posts)Here comes the Chinese empire.
Achilleaze
(15,543 posts)this mightily pleases the freaking kremlin
safeinOhio
(32,688 posts)Sign outside will be Two Dollar General..
SeattleVet
(5,477 posts)There is also a supplemental list that is still under review. Both lists are linked from this press release.
https://ustr.gov/about-us/policy-offices/press-office/press-releases/2018/june/ustr-issues-tariffs-chinese-products
This is going to be devastating to small businesses that rely in Chinese-manufactured parts for their products. Expect consumer product prices to spike as the companies have to pay 25% more for the components. In addition to finished products, there are a LOT of various component parts listed - if you are an electronics hobbyist, there is going to be a big spike in these prices!
Here is the overall, combined list:
https://www.federalregister.gov/documents/2018/04/06/2018-07119/notice-of-determination-and-request-for-public-comment-concerning-proposed-determination-of-action
These are some very weirdly specific lists. For example, under a subcategory of motors:
Electric motors of an output of under 18.65 W, other than synchronous valued not over $4 each
Universal AC/DC motors of an output exceeding 37.5 W but not exceeding 74.6 W Universal AC/DC motors of an output exceeding 735 W but under 746 W
Universal AC/DC motors of an output of 746 W or more
DC motors nesoi, of an output exceeding 37.5 W but not exceeding 74.6 W
DC motors, nesoi, of an output exceeding 735 W but under 746 W
DC motors nesoi, of an output of 746 W but not exceeding 750 W
DC motors nesoi, of an output exceeding 14.92 kW but not exceeding 75 kW, used as primary source of mechanical power for electric vehicles
DC motors nesoi, of an output exceeding 14.92 kW but not exceeding 75 kW, nesoi
DC motors nesoi, of an output exceeding 150 kW but not exceeding 375 kW
DC generators of an output exceeding 75 kW but not exceeding 375 kW
DC motors nesoi, of an output exceeding 375 kW
DC generators of an output exceeding 375 kW
AC motors nesoi, multi-phase, of an output exceeding 37.5 W but not exceeding 74.6 W
AC motors, nesoi, multi-phase, of an output exceeding 74.6 W but not exceeding 735 W
AC motors, nesoi, multi-phase, of an output exceeding 735 W but under 746 W
AC motors nesoi, multi-phase of an output of 746 W but not exceeding 750 W
AC motors nesoi, multi-phase, of an output exceeding 14.92 kW but not exceeding 75 kW
AC motors nesoi, multi-phase, of an output exceeding 75 kW but under 149.2 kW
AC motors nesoi, multi-phase, of an output exceeding 150 kW
AC generators (alternators) of an output exceeding 75 kVA but not exceeding 375 kVA AC generators (alternators) of an output exceeding 375 kVA but not exceeding 750 kVA
AC generators (alternators) of an output exceeding 750 kVA
NSOI is Not Elsewhere Specified Or Included)
notdarkyet
(2,226 posts)keithbvadu2
(36,828 posts)jayschool2013
(2,312 posts)So he can translate 操你。
(Answer: "Fuck you."