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Author Topic: Chinese Tariffs on US goods will backfire sooner rather than later.  (Read 807 times)

Scout26

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Chinese Tariffs on US goods will backfire sooner rather than later.
« on: October 13, 2018, 11:15:56 PM »
There just simply aren't enough other sources to make up for the shortfall in US Soybean imports.  And when (not if) the Chinese do have to start importing large volumes of US soybeans again, then it will drive up food prices and inflation, something the PRC can ill afford in their economy right now, with all the other problems they are facing in their economy.   So now, it's simply waiting for them to blink.  (And yes, even CNN sees this. )

https://www.cnn.com/2018/10/01/economy/china-soybeans-trade-war/
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makattak

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #1 on: October 13, 2018, 11:24:30 PM »
Trump is showing every day how stupid our political class is and has been.

ESPECIALLY the "diplomats."
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just Warren

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #2 on: October 13, 2018, 11:30:07 PM »
It's almost like Trump knows what he is doing.
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230RN

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #3 on: October 14, 2018, 12:47:09 AM »
Quote from: Warren on October 13, 2018, 11:30:07 PM
It's almost like Trump knows what he is doing.

Signature-line-worthy.
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Hawkmoon

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #4 on: October 14, 2018, 12:56:49 AM »
Quote from: Warren on October 13, 2018, 11:30:07 PM
It's almost like Trump knows what he is doing.

You might almost think he went to a school where they teach business and economics.
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just Warren

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #5 on: October 14, 2018, 02:39:41 PM »
It's a good thing for the left that he's such an idiot, can you imagine how much more of his agenda he'd have accomplished if he was smart?
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Perd Hapley

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #6 on: October 15, 2018, 10:12:24 AM »
Quote from: Warren on October 14, 2018, 02:39:41 PM
It's a good thing for the left that he's such an idiot, can you imagine how much more of his agenda he'd have accomplished if he was smart?

 :lol:
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charby

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #7 on: October 15, 2018, 12:00:11 PM »
I heard something very similar on NPR about a month ago.
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Scout26

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #8 on: October 15, 2018, 12:26:18 PM »
Quote from: Hawkmoon on October 14, 2018, 12:56:49 AM
You might almost think he went to a school where they teach business and economics.

Yep, and now it's just a waiting game, to see when the blink.  Trump haz the nuts and everyone knows it.  In fact, there was a story in the WSJ about how the Chinese were very confused after Trump imposed the Steel and Aluminum tariffs that not only did he didn't send anyone to negotiate, he didn't even make any overtures to open negotiations.  Which they expected.  They were surprised that Trump said "Open your markets to US goods" and then left it at that.  Like his opening position was his final offer.  Which is why they retaliated with tariffs of their own. 

The problem is they hold a very weak hand.  In 2017 they exported $506billion to the US, while only importing $130billion from the US.  (including soybeans)  Trump slapped tariffs on $200billion of Chinese imports.  They retaliated.  Trump threatened to slap tariffs on another $267billion in Chinese imports.   They are already refunding VAT to exporters that have been hit with US tariffs, but the can't do that for $467billion in exports.  They know their economy is built on exports and growth.   They only way they can keep the population in line is to make sure everyone has a job and food.  If their economy fails to grow (rapidly), it will begin to tank and they have seriously overextended themselves (which is why they manipulate their currency). 

They will have to concede, otherwise the pain will become very, very, real...
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Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
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Perd Hapley

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #9 on: October 15, 2018, 12:57:05 PM »
Didn't he say that winning a trade war would be easy?
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Scout26

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Re: Chinese Tariffs on US goods will backfire sooner rather than later.
« Reply #10 on: October 15, 2018, 01:16:11 PM »
I believe he did.  They need us more then we need them.

Like my Dad always said.  "Borrow a dollar from the bank, and bank owns you.  Borrow a million dollars from the bank and you own the bank."   This is kinda like that.
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Some days even my lucky rocketship underpants won't help.


Bring me my Broadsword and a clear understanding.
Get up to the roundhouse on the cliff-top standing.
Take women and children and bed them down.
Bless with a hard heart those that stand with me.
Bless the women and children who firm our hands.
Put our backs to the north wind.
Hold fast by the river.
Sweet memories to drive us on,
for the motherland.
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