Trump Announces New Tariffs On Chinese Imports

[BFritz21]

Trump will impose tariffs of at least 50 BILLION DOLLARS on Chinese goods.

Trump is fighting back for the American people and taking steps to make sure that we're not taken advantage of anymore because we're losing the trade battle with China.

A lot of people will ***** and complain, especially if prices jump in retaliation, but what they don't realize is that it could persuade companies to start producing more in the United States, which would mean more money stays in the country and more jobs for the American people. Price wars in the country are a good thing when it's only coming because there's more quality products.

I'm hoping that this turns out like it theoretically should and the United States becomes more in control of the economy and more in control of our money.

Here's the text:

Quote:President Donald Trump will impose tariffs on at least $50 billion in Chinese goods imports to retaliate against the alleged theft of American intellectual property, White House officials said Thursday.

Saying it would be the "first of many" trade actions, Trump signed the order that also will look at restrictions on Chinese investment in the US.

"We have a tremendous intellectual property theft situation going on," Trump said.

The new import duties will target industrial sectors where "China has sought to acquire an advantage through the unfair acquisition or forced technology transfer from US companies," senior White House economic advisor Everett Eissenstat told reporters.

The products subject to the new tariffs have not yet been identified.

But the move sent stocks diving on Wall Street, where the Dow Jones Industrial Average was down about two percent ahead of the announcement, and ratcheted up Trump's confrontational stance with trading partners.

Trump will direct US Trade Representative Robert Lighthizer to identify publish a proposed list of products that could be subject to tariffs.

He will also direct Lighthizer to take action against China at the World Trade Organization, charging Beijing with preventing US companies from licensing their technology in China.

The measure also directs the US Treasury to develop new proposals to increase safeguards on investments that could compromise US national security.

White House officials said Thursday the actions capped years of efforts to encourage China to end the alleged unfair practices through negotiations.

"Those dialogues failed under the Bush and Obama administrations," White House Trade Advisor Peter Navarro told reporters.

Navarro said Trump had been at pains to encourage Beijing to cooperate with American entreaties to open Chinese markets and end unfair practices.

"The problem is that with the Chinese in this case talk is not cheap, it's been very, very expensive and finally the president decided we needed to move forward."

As Trump has taken progressive steps toward confrontation, Beijing has repeatedly warned that trade wars benefited no one and that China would not stand idly by as Washington imposed punitive new measures.

American industry, and US agriculture in particular, have voiced exceptional concerns that Trump's moves could spark retaliatory measures and hurt US exporters.

But Navarro told reporters that China benefitted far more from trade relations with the United States than the reverse, meaning retaliation could be difficult for Beijing.

The new moves on China come weeks after the White House suddenly announced punishing new import tariffs on steel and aluminum, which have outraged trading partners and Republican lawmakers alike.

European officials this week have made high-level visits to press their case that they be excluded from the tariffs -- which are due to take effect on Friday.

I don't know much about whether or not the Europeans screw us as much as the Chinese, but I actually hope that they're excluded if they don't just so we can say to the Chinese "we're here to play hardball."

[Griever]

we need to stop worrying about other countries taking advantage of us, especially when our own president is taking advantage of american citizens on a daily basis

but looks like his "forgotten" people are gonna be paying more for his MAGA hats and ivankas clothing line, since they are all made in China

[hollodero]

(03-22-2018, 03:32 PM)BFritz21 Wrote: A lot of people will ***** and complain, especially if prices jump in retaliation, but what they don't realize is that it could persuade companies to start producing more in the United States, which would mean more money stays in the country and more jobs for the American people.  Price wars in the country are a good thing when it's only coming because there's more quality products.

This is a topic full of complexities though, and full of possible outcomes. Since I have some doubt about Donald Trump's genius, I guess this is more or less a wild card for everyone.
I'd call it Russian roulette, but that sounds too tainted these times.

(03-22-2018, 03:32 PM)BFritz21 Wrote: I don't know much about whether or not the Europeans screw us as much as the Chinese

Not quite as much. But longer and with real loving passion.

[Au165]

Yea this is far more complex than laid out here.

[ballsofsteel]

Stock Market dropping 800 points. Will Drumph take credit for this like he did when it was going up?

[BFritz21]

(03-22-2018, 05:04 PM)ballsofsteel Wrote: Stock Market dropping 800 points. Will Drumph take credit for this like he did when it was going up?

People get scared, or it could be a coincidence, but, regardless, it's good for the US in the long run.

[BmorePat87]

Damn it, now all of the Trump brand products will cost more

[BmorePat87]

(03-22-2018, 06:39 PM)BFritz21 Wrote: People get scared, or it could be a coincidence, but, regardless, it's good for the US in the long run.

No, it's 100% the tariffs. 

In the long run it will hurt the US and the market is reflecting that. We're a nation of consumers not manufacturers. Not to mention China can use Trump's legal strategy of outlasting people who sue him when he scams them. Xi Jinping will be President for life, Trump will not be. He doesn't have to worry about the ramifications of this trade war in 2 years. 

[BFritz21]

(03-22-2018, 08:42 PM)BmorePat87 Wrote: No, it's 100% the tariffs. 

In the long run it will hurt the US and the market is reflecting that. We're a nation of consumers not manufacturers. Not to mention China can use Trump's legal strategy of outlasting people who sue him when he scams them. Xi Jinping will be President for life, Trump will not be. He doesn't have to worry about the ramifications of this trade war in 2 years. 

The point of these tariffs is that he's trying to change that and put American workers back to work to produce goods that are also bought here because more people will have money to do so.

[Griever]

(03-23-2018, 01:51 AM)BFritz21 Wrote: The point of these tariffs is that he's trying to change that and put American workers back to work to produce goods that are also bought here because more people will have money to do so.

dude doesnt give to shits about the american worker

hes businesses are seeking permission to hire more foreign workers, so there goes the whole "buy american, hire american"

[BmorePat87]

(03-23-2018, 01:51 AM)BFritz21 Wrote: The point of these tariffs is that he's trying to change that and put American workers back to work to produce goods that are also bought here because more people will have money to do so.

He wants us to regress as an economy? We're a post industrial economy. American workers are at work in the service and information sectors. 

Manufacturing jobs were great for many areas, but the solution isn't to regress, it's to help those areas by training a new generation of workers to be skilled for our new economy.

This becomes a school issue too. Our schools need to train students to either be successful in college or successful in the current job landscape. Unfortunately, they're not doing the latter. 

[Au165]

(03-23-2018, 01:51 AM)BFritz21 Wrote: The point of these tariffs is that he's trying to change that and put American workers back to work to produce goods that are also bought here because more people will have money to do so.

Doesn't work that way. We aren't a country who wants to do menial jobs like the production jobs of the things we import, especially at the wage you have to pay people to do those jobs to sell the products at the prices we demand all while being profitable. The more likely thing that will happen is there will be more investment in robots and automation to simply eliminate the positions as a whole. People need to get over this idea that we are going to return to this heavily manufacturing driven economy with people in factories making solid wages and living the American dream. That era gave everyone a standard of living that outpaced the wages to do those jobs and in order to pay those jobs today what it would take the repercussions is inflation to balance it out getting us very little if any net gain. 

[CKwi88]

I'm 100% certain that this will go completely differently from the time that Obama put tariffs on China. Or the time that Bush II put tariffs on China.

Hopes and prayers for a different outcome seems to be a trend.

[BmorePat87]

(03-23-2018, 10:29 AM)CKwi88 Wrote: I'm 100% certain that this will go completely differently from the time that Obama put tariffs on China. Or the time that Bush II put tariffs on China.

Hopes and prayers for a different outcome seems to be a trend.

Yep
http://money.cnn.com/2017/01/03/news/economy/obama-china-tire-tariff/index.html

Quote:Americans paid more for tires. Some Chinese-made tires cost as much as 26% more -- rising on average to $39 per tire, from about $31. And U.S. tire makers, facing less competition from China, also raised prices on American-made tires 3.2%.

According to Peterson's model, higher prices from the tire tariff cost Americans an extra $1.1 billion, which translated to an estimated 3,731 retail jobs lost.
Plus, China fought back by imposing penalties on U.S. shipments of chicken parts. The Peterson study estimates that China's retaliation cost American chicken producers $1 billion in sales.

We saved 1,200 jobs at the cost of nearly 3,700 jobs and $2.1b in losses. 

[CKwi88]

(03-23-2018, 10:42 AM)BmorePat87 Wrote: Yep
http://money.cnn.com/2017/01/03/news/economy/obama-china-tire-tariff/index.html

We saved 1,200 jobs at the cost of nearly 3,700 jobs and $2.1b in losses. 

But it will be different this time. Trump is a strong leader who cares about the working man!

Stop hating Pat. I don't care if it smells and tastes like shit. That's totally chocolate soft serve that Trump is serving.

[Brownshoe]

(03-23-2018, 12:36 PM)CKwi88 Wrote: But it will be different this time. Trump is a strong leader who cares about the working man!

Stop hating Pat. I don't care if it smells and tastes like shit. That's totally chocolate soft serve that Trump is serving.

[Millhouse]

Seems like these kind of tariffs are about 30-40 years a little too late. So many blue collar jobs went overseas decades ago because politicians didnt have the balls back then to do anything about it, or were simply paid off.

But since those jobs are gone, I dont know if a trade war with China today is a good thing. Definitely a wait n see thing for me, but I am hedging it isnt a good thing.

[ballsofsteel]

Do you actually think these tariffs were Drumph's ideas? Someone is pulling his chain.

[BFritz21]

(03-23-2018, 06:02 PM)ballsofsteel Wrote: Do you actually think these tariffs were Drumph's ideas? Someone is pulling his chain.

Who cares if they were his ideas or not?!  As long as he's making it happen, that's all that matters!

[fredtoast]

We live in a world of international commerce.  International commerce creates jobs for everyone.

China has some unfair trade practices, but we need to address them in ways other than tariffs.

Tariffs might help jobs in one small industry, but it raises prices on those products for everyone else and then the retaliation tariffs raise other prices for everyone else.

So in the end everyone pays a lot more money to help just a very few people make more money.  It ends up costing more than it is worth.