Slim runs the place.Make no mistake about it.He ain’t gonna hurt his biz nor any of his buddies biz.
Tariffs
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Nobody cares when you have a $19,000,000,000 safety net.Donny says “shut-up”.
https://www.cnbc.com/video/2018/08/29/pea-lentil-farmers-fallout-tariffs.html
https://www.cnbc.com/video/2018/08/29/pea-lentil-farmers-fallout-tariffs.html
Donny’s latest trade deal will hurt car buyers
https://www.yahoo.com/finance/news/trumps-latest-trade-deal-will-hurt-car-buyers-185429094.html
https://www.yahoo.com/finance/news/trumps-latest-trade-deal-will-hurt-car-buyers-185429094.html
Navarro + Donny = Double Genius
Things Are Not Going to Plan in Donny’s U.S. Trade Deficit Wars
Shawn Donnan, Jeff Kearns • Wed, Sep 5 7:45 PM EDT
The numbers are not looking good for a president who has made reducing the U.S. trade deficit one of his main economic goals.
Worse still, signs are emerging that President Donald Trump’s trade wars are starting to hit economic growth, not just at home but around the world.
New data out Wednesday showed the U.S. trade deficit in July widening at its fastest rate since 2015 as monthly deficits with China and the European Union both hit new records . In the year so far, the U.S.’s overall goods and services deficit is up by $22 billion, or 7 percent, versus the same period last year.
The data coincides with Trump’s moves to escalate his battles with China and efforts to badger Canada into signing on to a new Nafta, highlighting what economists have argued is the incongruity of his trade policies. Even as he launches his battles in the name of reducing the U.S.’s imbalances, he has been causing the overall deficit to grow by increasing public spending and encouraging domestic investment.
More from Bloomberg.com: Trump Tweets Nike Getting ‘Killed,’ But So Far Stock Is Up Today
“The policies of this administration are policies that may not have been designed to increase the trade deficit, but that is their effect,” said Philip Levy, who served on President George W. Bush’s council of economic advisers.
Policy Distortions
Also apparent in the trade data are some of the distortions that Trump’s policies have been fueling and how they may be helping mask the long-term impact of his trade wars.
While soybean farmers are widely seen as one of the likely victims of a trade war with China, for example, a surge in exports of soybeans to get ahead of new tariffs helped boost U.S. GDP growth in the second quarter. In the first seven months of this year, the value of U.S. soybean exports actually increased by more than 40 percent, or $5.7 billion, versus the same period last year, according to the data released on Wednesday.
More from Bloomberg.com: Germany and U.K. Drop Key Brexit Ask, Easing Path to Deal
Those distortions are likely to be temporary. And that is why many economists believe U.S. GDP growth may have peaked at 4.2 percent in second quarter, with trade likely to be a drag on growth in the months to come.
Modest Drag
Andrew Hunter of Capital Economics said the trade data released on Wednesday indicated that after boosting GDP figures in the second quarter, net exports would subtract from it in the second half. In the third quarter, he predicted, net trade would subtract more than a percentage point from GDP growth while the recent surge in the dollar suggested that trade could be a “modest drag” in the fourth quarter too, even before the impact of tariffs starts to take hold.
Most economists argue against Trump’s characterization of the U.S. trade deficit as a reflection of the country’s profits and losses from trade. They also tend to cringe when people invoke reducing the deficit as a policy goal. The last time the U.S. trade deficit shrank significantly was in the aftermath of the 2008 crisis, which saw a collapse in global trade.
“Trade policy has very little direct impact on the overall trade deficit in the longer run," said Mary Lovely, a Syracuse University economist. A new Nafta, for example, is unlikely to do much to change the trade deficit, despite the administration’s claims, she said.
On the other hand, if Trump’s trade wars eventually hit business confidence it would certainly affect the trade deficit. “Then we would see a reduction in the U.S. trade deficit, but of course with harmful effects on economic activity and employment,” she said.
Read More: American Shoppers to Be Hit Harder Than Chinese by Tariff War
The impacts of Trump’s growing trade wars aren’t limited to the U.S. They also have only just started to bite.
At the World Trade Organization, Robert Koopman, the chief economist, fears that we are beginning to see signs of a slowdown in global trade growth linked to the trade wars. That matters because just a few months ago trade growth was being cited as one of the main causes for a robust streak in the global economy.
Around the world, manufacturing surveys are beginning to show a dip in export orders. Air and ocean freight data are pointing to a slowdown. So too is a dip in auto production around the world, Koopman said in an interview.
More worryingly, he said, the world is already seeing a slowdown in foreign direct investment that’s likely to lead to a longer term impact on trade. It also is significant because, if anything, the Trump trade wars are only just getting started.
More significant damage looms ahead, Koopman said, with the Trump administration expected to proceed with a new wave of tariffs on $200 billion of China goods as early as this week and amid its threats to put national-security tariffs on imported cars and parts.
The real damage from those measures -- and any retaliation from China and other U.S. trading partners -- may not hit the global economy until the first quarter of next year, Koopman said.
“There’s been a lot more talk than action so far," Koopman said. "The worry is when the action starts happening.”
Things Are Not Going to Plan in Donny’s U.S. Trade Deficit Wars
Shawn Donnan, Jeff Kearns • Wed, Sep 5 7:45 PM EDT
The numbers are not looking good for a president who has made reducing the U.S. trade deficit one of his main economic goals.
Worse still, signs are emerging that President Donald Trump’s trade wars are starting to hit economic growth, not just at home but around the world.
New data out Wednesday showed the U.S. trade deficit in July widening at its fastest rate since 2015 as monthly deficits with China and the European Union both hit new records . In the year so far, the U.S.’s overall goods and services deficit is up by $22 billion, or 7 percent, versus the same period last year.
The data coincides with Trump’s moves to escalate his battles with China and efforts to badger Canada into signing on to a new Nafta, highlighting what economists have argued is the incongruity of his trade policies. Even as he launches his battles in the name of reducing the U.S.’s imbalances, he has been causing the overall deficit to grow by increasing public spending and encouraging domestic investment.
More from Bloomberg.com: Trump Tweets Nike Getting ‘Killed,’ But So Far Stock Is Up Today
“The policies of this administration are policies that may not have been designed to increase the trade deficit, but that is their effect,” said Philip Levy, who served on President George W. Bush’s council of economic advisers.
Policy Distortions
Also apparent in the trade data are some of the distortions that Trump’s policies have been fueling and how they may be helping mask the long-term impact of his trade wars.
While soybean farmers are widely seen as one of the likely victims of a trade war with China, for example, a surge in exports of soybeans to get ahead of new tariffs helped boost U.S. GDP growth in the second quarter. In the first seven months of this year, the value of U.S. soybean exports actually increased by more than 40 percent, or $5.7 billion, versus the same period last year, according to the data released on Wednesday.
More from Bloomberg.com: Germany and U.K. Drop Key Brexit Ask, Easing Path to Deal
Those distortions are likely to be temporary. And that is why many economists believe U.S. GDP growth may have peaked at 4.2 percent in second quarter, with trade likely to be a drag on growth in the months to come.
Modest Drag
Andrew Hunter of Capital Economics said the trade data released on Wednesday indicated that after boosting GDP figures in the second quarter, net exports would subtract from it in the second half. In the third quarter, he predicted, net trade would subtract more than a percentage point from GDP growth while the recent surge in the dollar suggested that trade could be a “modest drag” in the fourth quarter too, even before the impact of tariffs starts to take hold.
Most economists argue against Trump’s characterization of the U.S. trade deficit as a reflection of the country’s profits and losses from trade. They also tend to cringe when people invoke reducing the deficit as a policy goal. The last time the U.S. trade deficit shrank significantly was in the aftermath of the 2008 crisis, which saw a collapse in global trade.
“Trade policy has very little direct impact on the overall trade deficit in the longer run," said Mary Lovely, a Syracuse University economist. A new Nafta, for example, is unlikely to do much to change the trade deficit, despite the administration’s claims, she said.
On the other hand, if Trump’s trade wars eventually hit business confidence it would certainly affect the trade deficit. “Then we would see a reduction in the U.S. trade deficit, but of course with harmful effects on economic activity and employment,” she said.
Read More: American Shoppers to Be Hit Harder Than Chinese by Tariff War
The impacts of Trump’s growing trade wars aren’t limited to the U.S. They also have only just started to bite.
At the World Trade Organization, Robert Koopman, the chief economist, fears that we are beginning to see signs of a slowdown in global trade growth linked to the trade wars. That matters because just a few months ago trade growth was being cited as one of the main causes for a robust streak in the global economy.
Around the world, manufacturing surveys are beginning to show a dip in export orders. Air and ocean freight data are pointing to a slowdown. So too is a dip in auto production around the world, Koopman said in an interview.
More worryingly, he said, the world is already seeing a slowdown in foreign direct investment that’s likely to lead to a longer term impact on trade. It also is significant because, if anything, the Trump trade wars are only just getting started.
More significant damage looms ahead, Koopman said, with the Trump administration expected to proceed with a new wave of tariffs on $200 billion of China goods as early as this week and amid its threats to put national-security tariffs on imported cars and parts.
The real damage from those measures -- and any retaliation from China and other U.S. trading partners -- may not hit the global economy until the first quarter of next year, Koopman said.
“There’s been a lot more talk than action so far," Koopman said. "The worry is when the action starts happening.”
let's see what happens with this and just like the tax cut, bet it works ourt very well for our country and its citizens. why attack and snipe at every little thing about trump, been in office less than two years and already we are doing great but a lot more things to come. just keep your powder dry, only attack in your own mind so you can be happy while leaving the remainder of the world to figure out things separate from bloomberg and socialist economists.
You do realize the trade war is the means, not the end? Of course there is going to be short term sacrifice. But the trade deal that comes out of this war will yield dividends for decades to come.
even if they hit his economy, it is worlds above the past administration and don't see trump running up as much deficit as obama, he was in a class all by himself, more than all other presidents combined. again, don't be so quick to judge, let things play out, then come here and have your say. to try and nuke it while it is going on is not too bright, have to wait for the conclusion and then we can attack or realize it worked for us.
Apparently, you are not reading the paper or watching the news.
"Federal debt held by the public has risen from $14.404 trillion on Inauguration Day to $14.813 trillion today, an increase of $409 billion."
Link: Committee for a Responsible Fiscal Budget
Tariffs cost Ford $1 billion in profit and hurt sales in China
Ford CEO Jim Hackett said Ford needs the U.S., China and other countries to make quick decisions about trade or there 'will be more damage.'
https://www.cnbc.com/2018/09/26/tariffs-cost-ford-1-billion-in-profit-and-hurt-sales-in-china.html
Farmers Say Aid Won’t Cover Tariff Damage
The Wall Street Journal
The Trump administration has started compensating U.S. farmers for damage tariffs are doing to their business. Many farmers say the payments won’t make up for lost sales to China and other foreign markets they were counting on to buy their products. Read the full story
Trump is borrowing money from China to 'pay our farmers to not sell their crops to China'
Sen. Read the full story
Ford CEO Jim Hackett said Ford needs the U.S., China and other countries to make quick decisions about trade or there 'will be more damage.'
https://www.cnbc.com/2018/09/26/tariffs-cost-ford-1-billion-in-profit-and-hurt-sales-in-china.html
Farmers Say Aid Won’t Cover Tariff Damage
The Wall Street Journal
The Trump administration has started compensating U.S. farmers for damage tariffs are doing to their business. Many farmers say the payments won’t make up for lost sales to China and other foreign markets they were counting on to buy their products. Read the full story
Trump is borrowing money from China to 'pay our farmers to not sell their crops to China'
Sen. Read the full story
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Trump claims he rejected a meeting with Trudeau over NAFTA — but Canada says it never asked to meet
Trump also threatened to put tariffs on cars from Canada as the countries struggle to reach a new trade deal.
Read more: https://www.cnbc.com/2018/09/26/trump-i-rejected-a-meeting-with-canadas-trudeau.html
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Trump also threatened to put tariffs on cars from Canada as the countries struggle to reach a new trade deal.
Read more: https://www.cnbc.com/2018/09/26/trump-i-rejected-a-meeting-with-canadas-trudeau.html
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A whole lot of nothing.Imagery and flashing lights.
Donny’s big fight with Canada over dairy gets the US only $70 million more than TPP trade deal
Bank of America Merrill Lynch tells its clients some of the concessions in the new trade deal with Canada are "mainly symbolic."
Read more: https://www.cnbc.com/2018/10/02/tru...anada-gets-only-70-million-more-than-tpp.html
Donny’s big fight with Canada over dairy gets the US only $70 million more than TPP trade deal
Bank of America Merrill Lynch tells its clients some of the concessions in the new trade deal with Canada are "mainly symbolic."
Read more: https://www.cnbc.com/2018/10/02/tru...anada-gets-only-70-million-more-than-tpp.html
you and other trump haters in the media are attempting to call the results of a baseball game in the first or second inning or a football game in the first quarter. why don't you wait until the game ends to see the results? all of the hatred is so small and ugly plus does not have any impact on what he is doing. he ran on a number of issues and he continues to make those issues happen and they all will be good, maybe great, for our country and the citizens and that is the bottom line
little i, where were you with this when obama was in office? do you recall that the congress sent trump a huge, huge, spending bill and then departed for vacation? he had no choice but to sign it but warned he would shut the government down next time, would not sign a bill given to him in this manner. he says what he means and means what he says so don't doubt him. have to realize that many republicans hate trump and are swampers, not a dem or republican deal, just how DC works. you cannot show one little snapshot and think you know what is truly going on, could be that revenues are increasing, think they are but that spending continues to out pace it. we have a spending problem in DC seems like forever and nobody wants to get a handle on it or if they do, they are shouted down.
Glad you asked.
I was addressing the posts of other dotards who, like you, are clueless about what it takes to have a government which takes care of all of its citizens.
Trade War Is Making the Grain Glut Worse
https://www.bloomberg.com/view/articles/2018-10-04/trade-war-is-making-the-grain-glut-worse
https://www.bloomberg.com/view/articles/2018-10-04/trade-war-is-making-the-grain-glut-worse
the government is not designed or supposed to "take care" of its citizens but it is supposed to give its citizens the best opportunities of "taking care" of themselves and making our country safe and secure as well as putting its citizens first over non-citizens and other countries.
what trade war? trump is negotiating so we have fair trade and cannot understand why that is a bad thing.
what trade war? trump is negotiating so we have fair trade and cannot understand why that is a bad thing.
Lindsey Graham welcomed Trump's China tariffs, then helped companies avoid them
Senator Lindsey Graham urged the administration to exclude imports used by companies from his state of South Carolina from a list of products subject to tariffs, The New York Times reports.
Read more: https://www.cnbc.com/2018/10/05/lin...-china-tariffs-then-help-companies-avoid.html
Senator Lindsey Graham urged the administration to exclude imports used by companies from his state of South Carolina from a list of products subject to tariffs, The New York Times reports.
Read more: https://www.cnbc.com/2018/10/05/lin...-china-tariffs-then-help-companies-avoid.html
the framers used the word "welfare" and did not mean what you think and gave congress specific enumerated powers and none of them work the way you and other leftists, socialists, communists, ie, the democrats would like to think. nice try though.
Uh, in 1780 welfare did not include wiping every butt with toilet paper when without unlike your interpretation in CA.
Read the Federalist Papers. Your definition of "general welfare" is not what the Founders were expressing.
It seems to me, that there is no possible way that tariffs can be supported 100%. In this case you are talking about 7 companies out of the 100’s of companies in SC, and only 4 got relief from the tarrifs.
As the Democratic party is always saying- someone has to look out for the employee/little man who could be
hurt. How many employees would be without jobs if the tariffs were 100% universal and no exceptions were made?
trump is only utilizing the tariffs on those countries placing tariffs on our products so that they will get rid of them. the only tariff he really wants is on the dumping of steel and other metals on our shores and driving our companies out of business because he knows we need those companies should a shooting war break out. again, don't look at this in a micro way, look at it in a macro way and wait until this is over, pretty soon, to see what happens. this is one thing he promised during the campaign and he is following through just like with all his other promises. he knows he may not get all he wants but he is trying and don't understand why people want him to keep pacts, treaties, etc. in place which are detrimental to our citizens and our country.
I tell u wat. dem dam dems r so horrible.
dey so horrible tat dey caint even spell out decency...sumthin i learned yrs ago...
so glad im a repuglicant (rellly im not).
plus dis: they r worser dan horrible. dey downright terriblist i eva seen...
...but...wat du u 'pect...disgustin dems...i hated em all my life...but mo lately since i got 2 b a retiree....aint all dat bad...thank gawd 4 dis board...
thinnk bout it. tha dems...dey so horrible...wf said i wus being dotty...maybe she have sum dem blood in her genes...not rellly sure...
but gitting back on topic...
i thinnk we shud ban dem dems from postin’ such aweful n horrible thinngs on dis spectable board...
pleeezzzeee, mr moderator. how kin u let this go on.
i b serious, mr. moderator. I mien wat r u thinnkin. reeelly, mr. moderator...wat tha hell r u thinnkjing...
watever...
‘specially little i whu, wat a slug...he a dumb sheet 2.
i spect he is....well, u nose wat i be thinnnkin...he probably is...
thank tha lawd, everybodi cees dat he is totally stupid n everybody nose it...he so stupid...
TOTALLY.
SO PLEEEZZZEEE.
i mien u nose I hadta git help figurin out how 2 use caps.
so wat does dat tell u mr moderator.
u shud nose how much I mien this, mr moderator.
so help me gawd.
2 quote prssdent Trumpf...
kil dat sumbitch...
dey so horrible tat dey caint even spell out decency...sumthin i learned yrs ago...
so glad im a repuglicant (rellly im not).
plus dis: they r worser dan horrible. dey downright terriblist i eva seen...
...but...wat du u 'pect...disgustin dems...i hated em all my life...but mo lately since i got 2 b a retiree....aint all dat bad...thank gawd 4 dis board...
thinnk bout it. tha dems...dey so horrible...wf said i wus being dotty...maybe she have sum dem blood in her genes...not rellly sure...
but gitting back on topic...
i thinnk we shud ban dem dems from postin’ such aweful n horrible thinngs on dis spectable board...
pleeezzzeee, mr moderator. how kin u let this go on.
i b serious, mr. moderator. I mien wat r u thinnkin. reeelly, mr. moderator...wat tha hell r u thinnkjing...
watever...
‘specially little i whu, wat a slug...he a dumb sheet 2.
i spect he is....well, u nose wat i be thinnnkin...he probably is...
thank tha lawd, everybodi cees dat he is totally stupid n everybody nose it...he so stupid...
TOTALLY.
SO PLEEEZZZEEE.
i mien u nose I hadta git help figurin out how 2 use caps.
so wat does dat tell u mr moderator.
u shud nose how much I mien this, mr moderator.
so help me gawd.
2 quote prssdent Trumpf...
kil dat sumbitch...
Very clever, but what was your point in going to the effort to post this reply
that actually came across as humor, and missed your point almost entirely ?
when you have no argument, absolutely no argument, you do what you just did little i. am not a republican, my family was huge democrat but what the party has morphed into, certainly am not a democrat and cannot see me voting for a democrat ever and that is not me changing, it is what they are now, who they are now
Not a good time to be an American manufacturer making something out of metal. Lots of businesses are struggling, but this is the poster child for the tariff situation:
https://www.wsj.com/articles/nailed-by-steel-tariffs-1536531985
Which of course is leading to this:
https://www.cnbc.com/housing/
The companies producing the products in China just move their production to another country and go from there. Mid-Continent Nail's parent company is a Mexican steel company. They will either shut Mid Continent down or move the business to another country. Either way, those workers are losing their jobs. Same for the other incidental companies in the town. I think the last paragraph in the WSJ article sums it up best.
https://www.wsj.com/articles/nailed-by-steel-tariffs-1536531985
Which of course is leading to this:
https://www.cnbc.com/housing/
The companies producing the products in China just move their production to another country and go from there. Mid-Continent Nail's parent company is a Mexican steel company. They will either shut Mid Continent down or move the business to another country. Either way, those workers are losing their jobs. Same for the other incidental companies in the town. I think the last paragraph in the WSJ article sums it up best.
Many Founding Fathers, Alexander Hamilton for instance, disgreed 180 percent with Madison. Subsequent Supreme Court rulings, ie Butler vs. United States, have consistently repudiated Madison's narrow-minded interpretation of the General Welfare Clause.
I agree that steel companies are doing better. Unfortunately though, the same can't be said for companies using that metal to manufacture products. For every single steel worker that is working again, there are about 20 workers in steel consumer industries that are losing their jobs.
https://money.cnn.com/2018/08/02/news/companies/us-steel-earnings-tariffs/index.html
https://www.newyorker.com/news/news...ng-prices-in-the-wake-of-trumps-steel-tariffs
https://www.cnbc.com/2018/07/16/businesses-pay-the-price-of-tariff-waiting-game.html
https://www.makechange.aspiration.com/articles/how-trumps-tariffs-are-affecting-business
The competing finished products coming from outside of the USA have no tariffs on them unless they are coming from China. The tariffs on finished products coming from China are not as high as the raw material tariffs.That puts the American manufacturers at a huge disadvantage compared to their competition from other countries. That is very hard for the American manufacturers to overcome.
https://money.cnn.com/2018/08/02/news/companies/us-steel-earnings-tariffs/index.html
https://www.newyorker.com/news/news...ng-prices-in-the-wake-of-trumps-steel-tariffs
https://www.cnbc.com/2018/07/16/businesses-pay-the-price-of-tariff-waiting-game.html
https://www.makechange.aspiration.com/articles/how-trumps-tariffs-are-affecting-business
The competing finished products coming from outside of the USA have no tariffs on them unless they are coming from China. The tariffs on finished products coming from China are not as high as the raw material tariffs.That puts the American manufacturers at a huge disadvantage compared to their competition from other countries. That is very hard for the American manufacturers to overcome.
China Slams Brakes on U.S. Crude Oil Imports
https://finance.yahoo.com/news/china-slams-brakes-u-crude-161222108.html
https://finance.yahoo.com/news/china-slams-brakes-u-crude-161222108.html
again, we are still playing the game, probably the second inning, a long way to go with changes galore and ups and downs but with an excellent goal to reach. why not just let all the things happening in the game take place without doom and let's see who wins the game after the completion o nine innings.
There are too many small/medium businesses out there without deep pockets or government help that can weather a drawn out storm. The "game" has been going on for a while now. The monetary coffers are starting to run out already. Those rainy day accounts are gone. If the tariffs go to 25% at the end of the year as stated, those businesses will be quickly eliminated all together. They will not be able to buy product and turn it fast enough to pay for it. Even if they secure lines of credit, they can't turn it over/pay for it because costs are rapidly outpacing revenues.
as trump stated, some people will be hurt in the short run as we attempt to make trade fair, fair for the US. maybe if these other countries had not started placing tariffs on our products to begin with, this would not have to take place but they did and it will take a while, things do not happen overnight or maybe in months or years, to get right, fair. businesses, whether something like this is going on or not, have to adjust, make changes, be ahead of the curve, in order to survive, always been that way and always will be that way.
More winning! I can see the light at the end of the tunnel!
https://www.nbcnews.com/business/au...st-ford-1b-now-it-n917756?cid=sm_npd_ms_tw_ma
https://www.nbcnews.com/business/au...st-ford-1b-now-it-n917756?cid=sm_npd_ms_tw_ma
Ford Prepares for Mass Layoffs After Losing $1 Billion to Donny’s Trade Tariffs
http://fortune.com/2018/10/09/ford-stock-today-layoffs-trump-trade-tariffs/
http://fortune.com/2018/10/09/ford-stock-today-layoffs-trump-trade-tariffs/
industries can see what is going on and make adjustments and in the long run will be better off than just having our government say, we are getting scewed, but that is OK.....DUH. trump has taken off the handcuffs stifling business and that is a great positive, given them a tax break, a great positive and now is attempting to level the playing ground on trade which will be a great positive as well. again guys, only the second inning not the ninth. you guys have no patience, well, that is not it, you guys are haters and no matter what trump does, you will attack it, just like nbc business or any other entity or person full of hate.
Comprehension of Reality escapes you.You wouldn’t know the difference from the 2nd inning from a stolen base from a passed ball to a no hit game.Clueless Expert Generalizations mean NOTHING.This is a rugby match not baseball game.Wrong sport.Why did the market fall over 800 points today?The 2nd inning stretch.
Give us FACTS.No BS responses.You have an obvious zippo understanding about anything having to do with economics,finance,tariffs or how the FED works.Read some books or take some high school equivalency courses in order to acquire minimal knowledge on those subjects.
Until then,you will continually get pounded by yours truly among others.
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