Bad policies have created a very risky relationship with China by granting it the manufacturing and export monopoly for the USA economy . In treaty violation after violation, China has effectively steam rolled several Administrations. While the expectation was that China would move away fro Communism and into democratic capitalism, the reality has been different. The miscalculation has been monumental. And even as of right now, we see that President Xi is about to order the army to land hard on Hong Kong protestors.
The US has to mitigate risk by diversifying its imports away from China, safeguarding its technology and negotiating better terms for US exports.
Presidential candidates should start talking about how the economy can start diversifying and offsetting the risk that China, clearly carries.
7
@Ted
The Chinese are a very serious threat under existing conditions. Trump deserves praise not ridicule for identifying the issue and starting to explore diversification. Unfortunately, I don't think Americans are there yet. They are complaining already and don't seem up to the task of playing hardball with China. Or maybe it's just their animus speaking.
2
Trump in his ever-present incompetence was forced to dial back these tariffs heading into holiday season because WE all know who pays for his incompetency: US. US citizens are the ones who pay for increases in tariffs and the higher prices on goods was not going to play well with consumers come Christmas and other holidays. Not that his base has any comprehension of this.
1
...and thus admitting that WE are paying the tariffs.
4
Usually these comment sections are polluted with Trump-supporting trolls, making for exasperating reading due to the overflow of inanity and idiocy. Not today. Think there’s a subject here that’s way over their heads? They’re conspicuous by their absence.
3
This is just one more example of the Steve Bannon play book titled CHAOS. From the very beginning of Trump's presidency, we have had our society shredding; everything from EPA to Individual Rights.
One chaotic event after another.
This was the veiled promise of Making America Great and they are delivering!
4
As several commentators have stated..... Tariffs are a tax WE pay and IQ45 just admitted it.. of course unbeknownst to him... cannot wait for the tweets he will be pouring out today
2
Once again, double-dealing casino-bankrupting Trump rigs the system so that the illusion of normality will carry through the holidays and then come tumbling down after. By then, he'll find someone else to blame in its aftermath (probably one or more Democrats, maybe even Hillary!) and claim that he alone can fix it.
We've been down this road before....
2
In looking at the exclusions on list 4B, Trump is not imposing tariffs on golf shoes, punch bowls, silk suits, hotel silverware, natural pearls, hair dryers - necessities in Palm Beach.
3
Good news for Santa. He will not have to pay those tariffs for the gifts or the material he needs to make them that he will have to buy from China for the good American kids.
2
The Socialist-REpublican Trump administration is running the American economy like the Soviet Union's Gosplan ran the Russian economy in times past.
Secretary Wilbur Ross can issue waivers to favored businessmen and contributors related to his existing tariff's the President has in place.
Alas, Socialism does not work.
5
Trump blinked! Not so easy when the other guy is also a bully!!
Quotates for the day:
It's true: "There IS one born every minute."
Also true: "We have met the enemy and they IS us."
Question for the day:
Why do we keep falling for this guy? How beyond stupid are some people?
6
China will pay for the tariffs the way Mexico will pay for the wall.
And Trump’s base lap these up.
Meanwhile, the one percent — who can’t be bothered to join MAGA rallies, hold placards, and shout chants — are quietly sipping a Möet.
Keep ‘Merica Great!
9
I hope that someone is watching people close to Trump and any purchases and sales they are making on the stock markets. Trump's chaotic "policies" make no sense for the greater economy, but he has had great success in manipulating the markets. Is he giving warning to anyone before he tweets "I'm imposing new tariffs", or "we're close to an agreement with China"?
8
Trump lies all the time why bother reading or listening to him.
6
The Art of War > The Art of the Deal
2
Did someone finally wake up? It is no longer how much money we are collecting from the the Chinese but finally a realization that the tariffs are taking a bite out of Americans’ incomes. Hopefully reasonable voices will soon be heard recognizing that the tariff war the Administration has started - and which is starting to go viral across the globe - threatens to aggravate the slow down in the US and world economies just as Smoot-Hawley did 1930.
1
I say let's not shop for the holidays. Instead have a get together with family, eat, drink and play games like Monopoly, Crazy 8's etc. Let the companies feel what happens when consumers stay home. Why do we need so much stuff anyway.
12
More Trumpspeak from Ms. Swanson, repeating what he says about discussions we do not hear and somewhat void from the reality we live in. Finally you mention we have none of the organizations carefully put in place to help us address trade issues with China. Trump focuses our attention on himself and this article maintains that channel without any of the outside information normally available from the Times. China was a consistent purchaser of farm goods and oil. Tariffs have hurt us and made China buy elsewhere. Trump is not a deal maker. He tries to make his way by threat and force when both cost us as well as his adversary. We need scope in these articles, not propaganda.
“Just in case they might have an impact on people,” the president told reporters, “what we’ve done is we’ve delayed it so that they won’t be relevant for the Christmas shopping season.”
The "people" to whom Trump is referring are his billionaire friends, not the American consumers who are already feeling the hit of these tariffs.
5
One does not need a degree in economics to know that the tariffs will have a negative effect on the American consumer. Most likely they will put a drag on the economy. That's fine with the Chinese as they're more likely at this point to punish Trump for all the vitriol he spews about China on a daily basis. And would heartily welcome his eviction from the White House next year.
1
If the reason for delaying the tariffs is to let stores stock-up for Christmas sales, it shows even less justification for the tariffs. The Trump administration is playing games with the world economy just to win the hearts of naive voters. They have no clue what they are really doing.
2
It's also more examples of his "create a crisis, delay a crisis" approach to PR.
6
So much for free market orthodoxy. It's up, a tariff tweet sends it down. Then there's some jawboning "we didn't mean it" and the market is up. Or the Fed's arm is arm-twisted to the point of snapping off. Then comes another tweet and, it's down.
Up, down, up, down, up, down. This has been going on for just about a year now, and they're still doing it!??! Billions if not Trillions of dollars in market action sloshing the market ship from side to side. You don't think the minions of the WH, all of whom are Wall Street types, are taking advantage of their insider position do you? Nah...they'd never abuse their position, would they? Heh!
John~
American Net'Zen
4
China is bad and we must stop it by tariffs, except when they are producing cheap Bibles. Bibles and other religious (read Christian) items are exempt. This sums up the sense of how Trump’s tariffs are absurd. Sad.
1
The stable genius strikes again apropos of nothing and his tweet-averse GOP minions stand by simpering and silent.
2
It's not so easy to win a trade war, is it Don? Failing, however, has always been easy for you.
1
Wasn’t there a book along this theme - “How the Grinch Stole Christmas “?
1
Billionaire corporations and rich farmers get Trump Welfare, while we torture immigrants and denigrate children receiving food stamps. This is Trump social and economic policy. Be ashamed, America!
4
We lost all credibility with this yo-yo leadership style.
4
Trump is a prisoner of his narcissistic rages. I have not seen any evidence that he anticipates the consequences of his actions beyond his own immediate egoistic needs. It’s the nature of a narcissist to sow chaos but reap only a moment’s satisfaction for his insatiable ego.
However, anyone around Trump who has five minutes’ warning can foresee the effects of his furious tweets on the markets. And I have no doubt they have their broker on speed dial.
Imagine short selling the equities market immediately before Trump’s expanded-tariffs tweet just over a week ago. Now imagine reversing that position just before he (partially) retracts that policy today. Insider trading by politicians isn’t a crazy theory (see Rep. Chris Collins (R-NY), White House lawn).
Trump thinks he is in charge, but he is by far the most easily riled and manipulated president in my lifetime. And I’m no spring chicken. So who is playing whom? Is Trump playing us, or is someone playing Trump?
Follow the money. And stand by for more market chaos.
The losers? All the rest of us.
3
What a way to govern!
2
If I were a cynic, I would SUGGEST that this move of Mr. Trump's is being made in order to shield him from the political consequences of his own foolish tariff decisions.
But I am not a cynic. I am a realist. Therefore, I am SAYING that this move of Mr. Trump's is being made in order to shield him from the political consequences of his own foolish tariff decisions.
Ho-ho-ho. Merry Christmas, everyone.
3
Just another failure by Trump - this time on the economy. It becomes clear how many of his other businesses went belly-up, including his three casinos, Trump university, and Trump everything else. This will give him more time to attack Americans with racist remarks and spread ridiculous conspiracy theories taken from anywhere he can find them. Let's just hope that America can quickly recover after January 2021 from this disastrous presidency aided and abetted by the Republican Party.
3
" “We’re doing this for the Christmas season,” he told reporters around noon. “Just in case some of the tariffs would have an impact on U.S. customers.”
You mean that Trump has lied about U.S. consumers not paying the tafiffs on goods purchased? Shocking.
2
“Trade wars are so easy too win”, tired of all these wins yet?
2
If you announce tariffs you don't do it halfway. You do it full on. And making it hard for items to be procured during the holidays shows how dependent we are on China for these products. So what is he trying to hide? As with everything else he does, it is all about him winning...and seeming to be great to every segment or persuasion. And by doing this he makes the Chinese I am sure snicker behind America's back. Just like the new aluminium rolling plant in Kentucky. Allowed though the aluminium is from Deripaska of Russia, with sanctions also curtailed for Mitch McConnell and his Southern Republican cronies. Nothing in these policies is sincere. Then we come to Epstein...Barr is so upset! Yet it was Trump's cutbacks on prison spending and the IRS, specifically he cut funding to these two, that has allowed this to occur. So now let's see if this is why Barr is involved, to hide this lapse or shall we say deliberate behavior on the part of this administration from coming to light. Sadly the 1 Issue voter doesn't have the will to follow the trail to the end result...phony, failed policies to get Trump elected, nothing more.
2
Thirty years after Tiananmen Square and 120 days after the Hong Kong protests, the issue for the self-interested mega-wealthy of America is still business and the bottom-line for profit. From Mitch McConnell and his conflict of interest through his wife's Chinese shipping interests to Trump's manipulation of the stock market to Apple's profit margins - everything is in service to god money.
2
I always thought Christmas was a hoax, so I’m not buying it.
2
trump still does not understand what tariffs do. Add that to the huge list of what this horror of a human being does not understand.
2
@Plennie Wingo
It is impossible to know what he actually knows or believes. That's not the point. The point is that he believes that the Deplorables believe that he is showing strength by making China pay tariffs, whereby millions of dollars flow directly into the U.S. Treasury. At least that's what the University of Pennsylvania teaches its undergraduates.
1
Well done, Mr. President. Now you yourself in effect told your own voters that they actually will be footing the tariff bill imposed on Chinese goods by your administration. And definitely yet another sign you are "easily" winning the trade war. Very well done, indeed, Mr. President !!
2
I'm confused. What about Trump's claim that Chins would be paying for tariffs big, time. like you've never seen before while millions are pouring into the government . By this act he is tacitly contradicting himself. No fear, he'll go back to his old talking points when he does slap more tariffs on and his supporters won't recognize or more importantly acknowledge his hypocrisy and inconsistency. He is their man.
1
Now I know how Drivers Ed teachers feel when teaching a new driver---No matter what the issue we always have new driver Trump at the wheel---and not driving one of those typical downsized drivers ed cars--but he is driving a high end sports car.
2
I hate to break it to you but the tariffs for this Christmas were already paid on the goods by US companies when they were ordered in January and shipped in June to prepare for arrival in warehouses in August and in stores in October.
4
I will not be surprised if we learn in the future that Trump himself, or his minions, profited handsomely from insider knowledge of when he decided to suddenly impose or lift tariffs.
If one knew, even minutes before such an announcement, one could profit by shorting certain companies, or buying after a market swoon, as happened yesterday. Or an insider (Jared) could profit from market swings in both directions.
Criminal manipulation of the stock market is certainly not beneath this guy and his greedy billionaire buddies.
4
As with all else, Trump's policies are more just photo ops. He announced tariffs, his believers are convinced that now the US is winning, and then Trump quietly backs aways.
It is sensible to be able to change ones mind. But Trump has insufficient knowledge to hold any intelligent views on anything. The result is this current mess, which may very well end with a resumption of the status quo, but in the meantime, farmers will have lost international markets.
5
Trump needs a schooling on how manufacturing works. If China was anticipating new ten % tariffs on electronics, toys etc, it more then likely cut back on production of those targeted items months ago. They after all, knew that tariff increases would curtail US consumer spending because frankly they know who pays for those tariffs; and it ain’t them.
So by announcing two weeks before the tariffs were suppose to go into effect, the damage has been done. Retailers, in anticipation of the tariffs cut back their purchases of Christmas inventory and in turn, China cut back its production. This means that retail inventories will be lower; stores will have less incentive to offer big discounts on products in high demand, shoppers will be paying higher prices for “high demand products”.
Our “very stable genius” President has shown once again how ignorant he is; this time on the topic is retail.
Oh, and to think this cannot get worse for retailers, it can...
China’s factories shut down for a month long celebration, after the first of the year. Factory works leave the manufacturing hubs and return home to their families in outlying villages. If plant owners see tariffs looming in December, they will not ask the workers to return once the celebrations end; again slowing the manufacturing of goods that US companies rely on. The apparel industry will probably take the hardest hit.
Trump’s tariff announcement came a month too late to save Christmas and the new year.
11
So Trump's blather that the Chinese would pay for the tariffs :
(1) wasn't 'serious'
(2) was forgotten
(3) changed, but nobody noticed
(4) means 'different things to different people'
(5) didn't matter to his base
Yes, all or none of the above, and perhaps 100 more interpretations. But it DOES NOT matter - change the subject - get the coverage - distract from real issues ...
He doesn't care,. Trump's sole objective in being re elected is not for some grand 'master plan' for America ... It is only to avoid the fed, state, local charges which will bury him when he is a private 'citizen' in January 2021 - I saw a moment of his speech tonight when he said it costs him billions to be president --- ha ha ... He's testing the limits; if his base believes that, they will believe anything ...
Beware; he is figuring out how to start a war a few months before election ... Not sooner, as the folly of it would be obvious -- few months is good timing, we'll be in the thick of it with no real outcome ... yet.
FACT:
No incumbent president has lost re election during a war.
War or no war, we need to make sure he is not re elected, break the pattern, and make him face the very REAL very SERIOUS charges he is trying to avoid.
6
Amazing how short sighted the stock markets are.
Soaring on what news?
The delay of an erratic , Ill conceived policy.
7
What does the tariff delay tell us? That Trump's master plan to save us money isn't working. Making a policy and then delaying its implementation demonstrates that it's a bad idea. Trump can tell us until he's blue in the face that tariffs don't hurt American consumers but if this tariff were implemented now, we would have had to absorb the cost by paying more at the cash register. All leading economists are screaming that Trump's tariff plan will be disastrous but he's deaf to it all. After all, Trump believes that he's the leading economist.
Is this not tacit acknowledgement by the Trump Administration that it is US consumers who ultimately pay the tariffs, not China?
Trump is trying to pressure China by first putting the squeeze on Walmart shoppers, many of whom wear gaudy red baseball caps. Santa Claus hires a K Street lobbyist and wins a delay until his books are closed for December. (It only cost him two bags of clean coal.)
The Chinese shake their heads and cut a deal for a few shiploads of Brazilian soy beans.
There is a crescendo building.
5
Trump team has this idea that trade deficits are a sign that US is being cheated. The truth is US is benefitting from trade deficits which finance the insane level of defense spending. The US is now dependent on foreign production and if it tries to jaw-bone the world by using sanctions they will find little sympathy or support. That’s part of the price of being a hegemony.
4
Trump no longer believes in Christmas. He had to divest all his business interests so there is no profit in the holiday for him. It's just another day for golf.
He hasn’t proven that he’s divested in his so called companies. We has a nation doesn’t know what he’s invested in because the powers that be will not demand his tax returns.
1
@EC
Previous Presidents have voluntarily made their tax returns public. There must be issues inherent in the POTUS' tax returns that he does not want the public to know. My guess he exaggerates his wealth.
@Dave Steffe
Trump didn’t divest his businesses. He continues to funnel American taxpayer money into his own pockets every time the government has to pay to house his huge entourage when he goes to Bedminster or Mar-a-Lago. Why do you think he goes to them so much?
The protestors need to hand out small pieces of paper that would go unnoticed in the militaries and police pockets, to the Chinese police, with free phone numbers they can phone to get refugee status in the western world for them and their families. And other self empowerment information that the Chinese State police have been re-programmed to not access, such as websites they can go to for information about defecting to the West and the freedoms you get in the Western world compared to China. Welfare State - pensions in old age, etc etc.
Educate the police by comparing lack of freedoms in communist China to human rights and freedoms in the Western world. Educate, Educate, and more education of the advantages of defecting to a Democratic country for Chinese police and their families. Grab the opportunity to get the military and police on your side. Slap lots and lots of stickers on their Tanks, and military vehicles, even when they are in them.
1
OK, Trump blinks and not for the first time. At least this is a tacit admission of his lie that tariffs are paid by China not US companies and consumers. And the US trade deficit with China has risen, not declined, since Trump initiated the trade war. He has no strategy other than keeping himself in the spotlight. Empty vessel, with no clue how to address legitimate issues with China re: trade and their regional aggression. Maybe he'll get a 'beautiful letter' from Xi, also.
10
This tariffs law is showing strong symptoms of hiccups.
5
China should thank Trump for the heads-up regarding his “strategy” to delay tariffs until American warehouses can stock up for the holiday season. The announcement of his delay gives China plenty of time to come up with a preemptive response that will still put American companies at a disadvantage.
9
But if tarifs are good for the U.S., why delay? Tariffs for everyone!
13
Care should be taken to distinguish actions of the erratic, soon to be relieved Captain Queeg now occupying the bridge of our ship of state and actions by the United States. Mutiny can not come soon enough.
6
Take away his strawberries. That will finally unhinge him.
2
Given the level of consumer debt in the US purchasing less imported items for Xmas would have made sense. But now Trumps u-turn. Thus also debt financed tax reductions continue to be burned instead of being saved. The US is like Trump: living beyond its means.
6
If it's true that a Chinese government backed company is in business with the Trumps in Malaysia then we all have to ask ourselves whose interests are really being protected?
5
Well Donald, Donnie, Ivanka and Jared’s interest of course.
You don’t think Donald ran to serve, do you? He ran to enrich himself, his family and his friends by taking advantage of the trappings and access provided by the office of the presidency.
It’s all pretty transparent and no really a secret to anyone watching this play out from neutral ground.
9
The only reason Trump did this was to try to save the votes of the small business owners, traditional Republicans all.
If the Farmers of America and the Small Businesses of America think for a moment they should place their continued trust and fealty with Trump, they're not firing on all cylinders and they need to fire on all cylinders all the time.
6
How is this NOT market manipulation?
20
Thoughts and prayers do not satisfy US retailers?
7
I’m glad I’m not the first to presume insider trading.
14
So now the average American’s purchasing power will plummet on Dec 15. Followed by the stock market and our economy.
10
Probably insider trading, not that it matters. Fellow multimillionaire elite Nancy Pelosi will never impeach a fellow rich elite like Trump (or Bush, whom she also refused to impeach despite glaring warcrimes).
5
So, finally then, China isn’t paying the tariffs. Why the change of mind? Will Trump revert to his iconoclastic view of tariffs as imposed on the exporter and not the importer after Christmas? So many questions when a stable genius is disrupting things like his voters hoped. Are we all heading for the insane asylum once this over?
7
Does Trump really believe that the American consumer, will be grateful for a reprieve from tariffs, which have been creating a very unstable and uncertain market, for things as basic as food? Since he began this madness, farmers and consumers alike, have neared the brunt of this nonsense.
It seems like many in the executive branch and the Senate are supporting this half-baked policy, which goes against the grain of every Republican political and economic policy for the past forty years.
Such instability may be Trump’s comfort zone, but many are becoming wearing of his impulsive, half-baked ideas, trying to pass themselves off as good fiscal policy.
If the Democrats want to advance their presence in the Senate, and oust Trump from the White House, perhaps Bernie Sanders, Kamala Harris, Joe Biden,
and the rest of the caravan of democratic candidates, should hold their own town halls instead of debates.
Like em or not, “rallies” gran the attention of the people, so why not give Trump a big dose of this own medicine and beat him at his own game? Sure beats lengthy debates, where candidates were limited in time a scope.
More importantly, it will bring their message in a meaningful way, directly to the people, by challenging Trump’s rhetoric and include Americans more directly.
If anyone wants to beat Trump in 2020, they need to put all of their notions about Trump’s approach, and use it against him, in ways that will leave him reeling and guessing, before it’s too late.
7
I'll throw in $10 USD, you can throw in a doughnut hole of any denomination, that this tariff war and all the "choices" being made have been fully leveraged by Don Jr. and Eric and Jared and Ivanka--before all the "surprise" tweets from Dad, of course.
With Trump, et al, it's all about money. And the money can be followed.
14
Tariffs were lifted on Bibles and other religious literature? Was that because Bibles are essential for health, safety, or national security? Better check the new translation of Matthew 22:21: “Render to Xi the things that are Xi’s; and to Trump the things that are Trump’s.”
11
Trump reminds me of my cat! And the way cats amuse themselves with their prey. lol!
4
A really bad feeling forms in the pit of your stomach, when you sincerely feel that your President is not trustworthy. Betrayal is a hard pill to swallow.
11
Threaten tariffs... buy stocks low. Take it back...sell stocks high. Who’s the manipulator?
15
What is the merit You saw so far what Trump did about economy?
Did he take over two war and one great economic recession and turn around in 2.5 years?
That is what happened , truly, honestly and seriously.
then
What is the discussion about Tariffs?
Seriously!!!!!!!
care to explain what economic recession he took over? The economy was booming when he took over. Or do you mean Obama who actually had to deal with a really bad recession when he took over.
Why should one man (or fool, in this case) have the power to make such decisions? Where is Congress? trump is completely out of his depth and is resorting to outright lies (nothing new, in his case) to try to cover his ineptitude. When will this madness end?!?
9
Macy's will be selling soy bean bags, in lieu of charcocal, as stocking stuffers for naughty children during the holiday season.
Why buy presents?. Last year we had a government shut down, the holidays were ruined, no one received a paycheck till the holidays had come and gone. Trump knew what he was doing and just didn't care. Trump hates the farmers if they loose everything no big deal. Nothing but lip service as if he has a fight in this game. china is paying for the tariffs, the wall is being built by the American people. Recession is coming and Ms. Warren has predicted this Wall Street insanity. Economics is the class that Trump failed probably along with many other classes since we have never seen his grades.
So what's the point? Insanity rules and every day is another day at the fun house. Trump is a cancer on our society and if people dont believe it, then they are not part of this democratic society.
9
I hearken back to other messages left that I cannot utter in the same sentence the title of “president” and the name of the current occupant of the White House.
His office is illegitimate as decided, decisively, by the popular vote in 2016, in spite of the Electoral College, whatever that is.
I suggest that all vetted, mainstream media, refer to this tenant of the White House as Donald Trump. And no more. He is NOT our country’s president and never will be.
13
"...until stores stock up for holidays?" Is THIS how world trade policies are decided by superpowers in 2019?? Amazing times we're living in, ladies and gentlemen. Go get your plastic toys and gadgets and $2 stocking stuffers while you can.
12
Forestalling the absurd tariffs causes stock market to cheer? Bring on the recession. The race to the bottom is on!
2
Shame on me. I took Trump at his word and ordered some shoes from REI thinking the price might go up next month. But then he changed his mind. I can't imagine how those managing supply chains work around this slot machine every day.
11
Maybe China just raise price 10% on 300 billions exports September 1st.
1
Hmmm, I wonder if anyone in the Trump organization is playing games in the futures market.
7
Ah, a tariff of convenience...
So, according to Trump, tariffs don’t impact and aren’t paid for by the public. Yet he has to postpone imposing new ones on China until stores can stock up on merchandise for Christmas.
9
A question if I may: If Trump delays his tariffs until December, why would China ship the Christmas supplies? Wouldn't it be more effective to hold them as a negotiating chip?
BTW shipments should be starting right about now, if they are going to be in stores for Christmas shopping season.
2
I am asking all the stores (Macy's, Apple, H&M, etc, etc) to show on their receipts what the price will be WHEN the tariffs are in effect. Show consumers the Trump Tax on your purchases, see how they react. And if the tariffs hit, then add a line showing it as a tax.
6
Talk about uncertainty. I recently talked to sometime I have known for a long time who operates a toy manufacturing business in China. He told me business is down 30%, but his margins are such that he cannot lower prices for his customers (Walmart, Costco etc.) except a token 2 - 3 % thanks to the weakening Yuan. He said some of his competitors have moved to Vietnam, but they are having a lot of trouble producing the products at an acceptable quality and efficiency. In fact, his company is helping fulfil orders for these companies because they have trouble delivering.
Cost savings to manufacturing in China is no longer coming from labour, as wages, social security, medical insurance and all the other benefits have increased a lot in the recent decade. The cost advantage is in the scale of the supply chain and the efficiency. Moving to places like Vietnam is easier said then done, because the workers do not have the same level of skill, and the supply chain will take decades to build up. In any case, with the huge trade imbalance between Vietnam and the US, it is only a matter of time that Trump will put tariffs on this country. As for India, they have an even higher trade barrier than China, which no doubt Trump would want to address soon. At the end, US consumers would just have to get used to paying more for everything.
6
Or, get rid of Trump and Republicans who have enabled and abetted his feckless administration.
9
If China is paying for the tariffs and not the American public, then why hold off on the tariffs until December?
8
@J Jones What a tangled web Trump is weaving in his deception about who is paying the tariffs.
2
While Mr. Trump continues to gaslight Americans by insisting that China pays the tariffs (which he contradicts by delaying the imposition of new tariffs until December 15th - if China pays why does higher tariffs at Christmas matter?), he clearly sees how tariffs affect the stock market and hence the delay.
7
But I thought China was paying for the tariffs.
4
Yep---pretty much a tacit acknowledgement that these grandstanding tariffs will impact we working schlubs the most.
Thanks Mr. Dennison.
2
Obviously, it has become clear to Trump that the American consumer pays the tariff---that the tariff is actually a tax and not money the Chinese are giving to us: otherwise he would not have delayed their onset. But will he admit his mistake? Will he apologize and admit that wise people learn from mistakes? The answer is clear. Trump never admits errors.
He claims he is perfect and perfection never errs.
1
NYT: Please investigate who is profiting from insider knowledge of Trump's tariff waffling. It surely seems that the market is being manipulated.
20
Does anyone there know what they are doing?
6
Don’t worry, Trump can always file for Chapter 11.
2
Trump’s manipulating of the stock market, the Fed and elections - this thug must go. Every time he has a temper tantrum with a world leader he acts punitively. And then when the market tanks, he takes it back. Why? He must get re-elected to stay out of jail.
We must serve justice and ensure he is not only not re-elected, but incarcerated.
14
I sure was relieved to hear that the assembly line at Wenzhou, Zhejiang Province that turns out those partridges in pear trees just went into double overtime. What a dismal holiday it would be without them.
6
@Wolf People who look forward to celebrating Black Friday and Cyber Monday have no clue what you just wrote! Of course those who own five golden rings do.
This is all typical Trump whom plays three card monte in everything he does. Clearly he is getting his hat handed to him by the Chinese who are on track to tank our economy by letting their currency float to the bottom. In addition, he knows the cliff under which he will lose re-election will be reached with any type of extended bad news for the economy.
Therefore Trump has to make up another lie (of thousands) about Christmas to deflect from his incompetence in starting this ridiculous tariff war in the first place. Like the phantom people who might die if he launched a retaliatory strike in Iran, he has to justify recalling the planes ( in this case tariffs) back once again. Trump is all about one person, himself,
4
Might it also have something to do with the Trump organization’s condo/hotel/ theme park mega project in Indonesia funded by a government sanctioned Chinese bank?
There is literally no bottom to the damage this despicable family and their Republican enablers will do to gut America of any moral standing it once had in the world.
10
President Donald is now able to say that we will be able to wish people a Merry Christmas again as he has priory. His antics are all about Optics. The 15 th of December? Really
Vote Trump Out. He will be gone. But wait again. Maybe Putin will not allow it.
4
So, do 45’s supporters now understand that we pay the taxes, not the Chinese? What do they think of 45’s policy and lies now?
8
People, we have to vote him out. He does not know what he is doing.
10
this might have been good news were it not about already-overpriced little plastic badly made things nobody really needs.
2
“‘I have no idea,’ Mr. Trump said...”
An absolute, crystalline and irrefutable statement to sum up the entire trump experience.
13
Are there any experts on economics other than our know-it-all president who believe that tariff wars are beneficial for our country's economy? The fact that there is a delay on tariffs in order for stores to stock up on Chinese goods is damning evidence that a protracted tariff war with China will be disastrous.
1
And we follow the news of this trade war on inexpensive computers and wall screens made ....... in China!
I wonder when the Walton family will join Trump's crusade against China. Oh wait, they became incredibly rich selling stuff from China to very willing American buyers.
4
Trump’s threats, like his word, are worth less than the contents of his chamber pot...and, by now, the entire globe is quite aware of that fact.
China will continue to play the long game.
7
Seems like an admission that tariffs are a tax on consumers.
10
Seriously, who is aware of these actions before they are made public? What donors benefit from the market volatility?
9
A new Apple iPhone will be released in September. If Apple were to absorb the tariff rather than pass it on to the consumer, that would take a big chunk of their markup with significant reduction of earnings and hence share price. Many other companies would be in the same boat. The impact on markets and political fallout would be considerable.
1
Every morning when I wake up, I never know if we are waking up to a recession, a world war, a civil war or if Trump has been finally stopped and Pence is in charge. How long are they going to allow him to go? Have we not learned anything from history? We are at a crossroad and our leaders must take a stand. Trump knows nothing. Nothing.
15
Russia Russia Russia. Haha.
Trade war has had minimal effect on the majority of everyday Americans. I work in agriculture & 79% of farmers support Trump. As far as myself I’m not a big spender, more of a big saver. But when I purchase I buy quality and certainly not Chinese goods
1
@Joseph
Question for you: Why do the farmers continue to support Trump? I guess they are liking that welfare after all, huh? I thought they learned while Reagan was in charge that the Republicans were no friend to the family farmer. Oh, well, I do not want to hear another word from the right about socialism while a faction of their base is receiving it. I hope they enjoy those bailouts. Well, gotta get up and go to work in the morning. Gotta help pay for those bailouts.
13
@JOSEPH
Affect
I thought retailers committed to holiday-season purchases many, many months in advance, not in mid-summer. I suspect trump’s feckless decision-making has little effect on what US retailers do or don’t do, at least for 2019.
5
Why should Trump need to delay the tariffs because of increased Christmas prices? I thought China paid these tariffs, not US consumers.
15
Easing the Tariffs that only hurt China? Right, that makes sense.
11
Haven't we seen this movie before? Trump announces tariffs, China retaliates, the Stock Market goes down, Trump announces talks with China on trade, the Market goes up. Repeat for months. While there are those making money in this up and down, the American farmer, American businesses, and consumers are paying for it. Trump has no idea what he is doing and China is going to have the last laugh.
9
"The stock market soared after the announcement . . ."
I wonder whether the Securities and Exchange Commission is going to investigate President Trump's market manipulation or those who are benefiting from the associated insider trading.
26
No.
They should though.
But this is a Banana Republic.
2
I don't suppose it has dawned on Trump yet that he really does not understand tariffs.
17
Well, it turns out that this article didn't have all the facts.
It turns out that today Junior was over in Indonesia, celebrating the work that began today over there on the newest TRUMP HOTEL..... and 'theme park'.
The construction will be done by Chinese contractors on the next-door theme park.
You know, someone once pointed out that there had never been a war that pitted one nation that had a McDonald's and another country that also had a McDonald's against each other.
I don't suspect that that little maxim still holds..... but someone should do a well-check and see if all of the TRUMP HOTELS are doing okay.
And the tariff war?
I think that TRUMP showed us today that that's not the primary force that moves him.
Evangelicals: Beware. You're not Number One in his heart.
Merry Christmas.
21
Our bipolar leaders need treatment and voters awareness of psychological desease. One day the President threats China with tariffs and the next offers candies. Bipolarity that makes some traders rich and soft-hand investors poor.
4
The delay benefits Chinese companies relocating to Thailand. Let’s face the facts as they appear from White House actions. We hear that Trump overriding his advisers last week and now some backtracking. Trump/USA caving on a decision in less than 7 days. Don’t get me wrong. I think it’s great that Trump has had time for his advisers to think through the policies and for Ivanka and Jared to get the policy adjusted. Nothing is settled until Jared says it is!
1
Let us consider what Christmas is really about shall we? A baby, born to a virgin, who had to travel across many country's borders to keep her baby safe. A baby that, by all counts was a free loving hippy, who preached love, acceptance, and forgiveness. He taught us to take care of those who need help. He stood for everything that Trump, Pence and their White House full of a corporate swamp hiding behind a cross is not capable of feeling. Christmas to Trump is about shopping. It's about money. Let us show him what it is really about, let us show him that it's about love, not money. #BoycottChristmas
22
Good King Donald has snapped his fingers and decreed that the little people shall be allowed a good Christmas.
All in the Republican Party praise Good King Donald.
Who needs Congress when we have such a wise and beneficent King?
If we impeach this man and remove him from office, Hillary will become president and she will take away our Christmas.
11
Worst negotiator ever. I was waiting to see how long it would take before he capitulated.
17
Wake up. Trump is manipulating the markets and likely he and his friends are benefitting from it. i hope the NYT is already doing an investigation of this.
32
Trade wars are easy to win...for China.
7
Interesting; Trump threatens tariffs on Chinese goods (for which the American consumer will pay but that's another rant) and the market goes down. Then 45 suspends these tariffs and the market goes up. Hmmm, anyone check to see what his stock portfolio did prior to both announcements? Any insider trading happening during this time period? I'm sure the Clinton's had something to do with it! Or maybe Obama. Or....
21
“Manufacture as cheap as possible, sell as expensive as possible”. Now Trump has allowed some to continue “manufacturing” as cheap as possible, the value of those shares has gone up. If you think the price of a few shares going up is good for your country you’re definitely not thinking “outside the box”
So two weeks ago Trump announces via twitter new tariffs and the stock market has a large drop. Then today he twitters no taffifs for now and the market rises. Just a thought but wouldn't it be nice to know before the tweets both times that this was about to happen. One could do very well by selling at the appropriate time and buying at the appropriate time. But of course Trump (or a confidant of his) would not be so devious to profit (in an indirect way) from this knowledge. Right??? Also for sale a bridge in Brooklyn......
8
I think it is getting clearer every day in whose interest Trump is acting with his Trumped up tariff wars. Keep an eye on Trump's investments and tax returns.
Oh wait, guess stock manipulation for personal presidential gain is just another day in Trump's White House office and what Trump's thinks is meant by "executive privilege."
The swamp just gets bigger and deeper every day that man occupies and uses the presidency to pad his personal wealth and puff up his ego.
And, the Republicans see nothing wrong with this?
Make Trump and the GOP unemployed in 2020.
15
Trump had promised that China pays the tariffs, not Americans. Now, Trump is saying that he is delaying his tariffs to save Americans from paying higher prices for the holidays. That’s double speak/fork tongue/lies or whatever else you want to call it. Telling big lies to the American people is what Trump does best.
17
@simon simon Remember how Trump promised us a million times about the Mexico paid wall? Fork tongue Trump!
2
@simon simon Remember Trump’s promise that climate change doesn’t exist & that he knows better than the Nobel laureate scientists? Yet another big lie to the American people to suit his politicalization of everything while cities, farms, and rural communities get wiped out by climate change.
1
@simon simon Hey Trump- You swore that Obama was the president illegally because Obama wasn’t born in America. Now that you’re President & you control the justice dept, why aren’t you prosecuting Obama and showing the world your evidence? Or were you telling big lies to the American people again?
1
Many comments have focused on the Trump & Friends possible insider trading aspect of this move. What about the political implications? If DJT can keep manipulating the markets long enough to keep a few farmers & independents on board and add that to his base he figures he may be able to squeeze out an electoral college win again. All the more reason we have to get a Democrat in the White House & hopefully control of the Senate.
It would be nice though if, just once, a newly elected Dem administration got to work on policy instead of first having to clean up yet another Republican mess.
8
This is the last gasp of American Imperialism. The Roman Emperor is using his power so that yesterday’s barbarians will deliver the toys for the plebe children on time knowing there will not be to many other such opportunities.
Durrenmatt and Frisch, you wonderful Swiss dramatists who were denied well deserved Nobel Prizes, where are you to capture the irony that will escape the average reader!
The Chinese will not forget it when their time comes. The time that is being shortened unexpectedly by the worst ruler since Nero.
4
Trump has no idea what he is doing. So long as he can keep things interesting and dramatic he believes he will have the votes to get re-elected. So far he’s implemented the best tariffs. Then he decided, as a stable genius does, that the tariffs should be avoided during the best holiday.
He doesn’t want the media to focus on his old party time buddy Epstein. They will lie. He told the best Attorney General to keep him locked up in the finest prison with the best guards. Oops. Time for a fantastic story about all that. His true American followers will believe anything. Hannity can help. The Hong Kong riots? They have the best protesters. And the Chinese have the best police.
6
With Trump, it will be, what is the policy on Chinese tariffs tomorrow.
How can a President be allowed to decide policy on a whim, only to go back on his policy with an excuse about Christmas 2019?
This is just another example of the dysfunction and chaos, which are the main results, of having Trump in the White House.
10
Is this market manipulation by tweet? Is someone making a lot of money on these swings by having inside knowledge about what tomorrow's tweet will be?
16
Nothin new here, folks.
Again, Trump decreased 2/3 of tariffs and got nothing in return.
5
STOP the Trump tweets that move the markets.
Make him STOP.
This is outrageous manipulation. When the market really drops, it will not be funny with machines controlling the trading.
17
@The_Last_Lioness
Wouldn’t be shocking to find out that Kushner put 50 millions in stocks before opening and collected 2-4 millions by noon. No sweat.
8
It is a mistake to use tariffs to achieve trade balance objectives.
Tariffs are regressive and negatively impact the quality of living for both the exporting country and the importing country.
Nowhere in the annals of the media reports of the Administration's policy initiatives have I read that the Administration was pursuing the complaints of trade policies with the World Trade Organization, which was organized to deal with violations of trade relations.
The evidence supports that the Trump Administrations tariff policy has seriously harmed one of our leading comparative advantages: agriculture and destroyed a market that took decades to develop.
3
Irrespective of Trump politics, anyone concerned about long term viability of US economy and global power standing should applaud Trump’s efforts to China perfidy in coercing US companies to share IP or steal outright through cyber hacking.
Clinton gave away the store when he allowed China into WTO without firm commitment from China to mend its behavior or Bush or Obama being naive enough to believe China will somehow become more democratic and rectify its trade policies.
It’s about time the US stood up to safeguard long term interests and confront China for its predatory trade and military policies. Glad Trump gets it, at least on this issue and more power to Robert Lightheizer!
3
Right, but tarrifs are NOT the answer. So, no, I don't applaud his actions. In fact, he hasn't a clue to what he's doing.
8
@Observer
You have no clue how our system works. trade issues are written by corporate think-tanks, related to Congress for approval, where corporate lobbyists made sure China will grant them access to its market.
Any time Obama insisted on pro-labour additions in TPP he was criticized for “interfering” with economy. Corporations always know better, right?
So you didn’t know who has been running this country since Reagan???
6
Prediction of the day:
Once the Chinese march troops into Hong Kong and establish martial law in the next few days, everyone who is criticizing Trump's tariffs will suddenly criticize Trump for being too easy on China and demanding massive new tariffs, if not a block on all imports.
2
One would think Trump and his cronies are manipulating the stock market with his on again off again trade war. But the guy doesn't think, he has no plan or strategy, he just acts tough with everybody he thinks he can bully and plays to the american nationalists. At the first sign his personal wealth could come into play he will chicken out. He's a basically a coward and China and the rest of the world is going to prove it. Nobody likes a bully except those with red hats.
6
Do your holiday shopping early.
4
awwww how financially precious - concern for the holiday haul. commander and chief of economic car bombing
bring on the vote
3
Has anyone ever thought about correlating the investing habits of oligarchs and Kushners with Donald's statements that intentionally move the markets?
Just wondering.
18
I am bemused by the vast number of commentators who theorize why President Trump is adding this tariff one day and taking it away the next. Let’s be honest. Trump is not strategizing. He is a maniacal puppet master who thrives on creating chaos and destroying democratic norms. When boredom sets in or he needs us to chase bright shiny objects, he merely generates more pandemonium. This would all be fairly benign if not for the cowardice and blind allegiance of the GOP and its cult followers. The cure for this plague—the ballot box. They all have to be fired. Every last elephant in the room.
11
@luluchill Many here in Australia think he is a genius and that the US is not affected by the tariff's as you have a great manufacturing area that is making all the items you need and therefore making huge profits. Everything is just perfect and Trump is showing the world how it is done. However there are some of us who don't think this is the truth.
5
To All Trump Supporters:
If China were really paying these tariffs, why would Trump delay these tariffs? Think about it. Actually, the American consumer would be paying these tariffs (taxes). What he has done is raised taxes under the guise of tariffs.
11
The tax cut stimulus was, as expected, for short term gain and bragging rights. US Agriculture is being socialised and subsidised partially by the tariffs US companies are paying into the Treasury, although the payouts to farmers are far greater than what is coming in. The budget deficit is running at $1 trillion a year. So now we have to rely on interest rate cuts to keep GDP at 2% plus. Economic and social volatility is a daily drama show. Ugghh!!
5
Ooooh wait a minute. Is this an acknowledgement that tarrifs will be paid by US consumers ? Really ? I thought the Chinese were paying them ? Duh.
16
Someone in the know is profiting from whipping tariff news, you think?. Is anyone looking for people in the room who might be playing the market on this "news"/"policy"?
I think not.
There ought to be a law...
5
So - as we see again - the tariffs were just another instance of Trump the puppeteer. The minute this massive economic manipulation affects his cheerleader Red Hats he stops tariffs for ... Christmas presents??
2
Interesting; Trump threatens tariffs on Chinese goods (for which the American consumer will pay but that's another rant) and the market goes down. Then 45 suspends these tariffs and the market goes up. Hmmm, anyone check to see what his stock portfolio did prior to both announcements? Any insider trading happening during this time period? I'm sure the Clinton's had something to do with it! Or maybe Obama. Or....
6
Whatever happens, no matter how bad the deal, you can be sure Trump will throw Afghanistan to the Taliban, give away the store to China, settle for less with North Korea, pander and sell anything he can right before the 2020 election, hoping for a voter approval bump. The real question will be how much of Trump's shenanigans the electorate will put up with before they toss him out of office. Personally, I don't think 2020 can get here fast enough.
8
Our business men are finally telling Trump what a failure his tariffs are having on their electronics and many other goods. In 1932 the GOP had a failed tariffs policy on the world and the two Republicans who came up with the idea were voted out the next year. Lets hope prices for apple lap tops and I phones go so high they stop selling. I owned an Apple Mac book pro. In a year in was a battery recall and key pad . Then by 2018 during an update which took 5 hours when it was done it said 2 days remaining to be upgraded. Apple needs to start making them in America Chineses are getting sloppy.
1
When has DJT stood toe to toe with a powerful foe and won.
Ever?
Anything?
Unless he has putin assistance has has never done anything that has worked long term.
Nothing!
9
I bet Trump cronies went long just before this announcement. And our SEC is on vacation at some Trump gulf resort probably.
6
Trump blinked firs. China knew he would. It doesn't take a psych degree to read Trump. Putin and others use it to their advantage
7
"The tariff announcement followed what Mr. Trump described as a “very productive” call..."
For once he tells the truth. No doubt it was "very productive" for his and his family's portfolios. As others have pointed out, nothing like a little stock market manipulation to move markets at will for one's own benefit.
7
I hope that someone is looking into insider trading on this. What are the chances that Trump DIDN'T tell some of his buddies at Mar-A-Lago in advance that 1) more tariffs were coming 2) tariffs were going to be delayed. If we can't put him in jail, let's at least put some of them in jail.
14
One paragraph struck me as interesting:
"So far, Apple has not raised prices because of the initial tariffs. And the company would probably try to absorb a 10 percent levy on iPhones at first, too, Daniel Ives, a technology analyst for Wedbush Securities, said in a research note Tuesday."
If Apple can "absorb a 10 percent levy on iPhones," even for a while, what kind of profit margin are they working with?
9
Does the American government have plans about how to respond (other than verbal condemnation), if China militarily "secures" Hong Kong? There is no way of knowing nor, if there are plans, should we know what they are, unless publicity is part of a coherent diplomatic strategy.
I cannot help but think back to 1968 and the Soviet Union's invasion of Czechoslovakia, which the former considered part of its political territory. The U.S. made no response, nor is it obvious what a response should or even could have been at the time. The reality is that when push comes to shove, semi-abstractions such as freedom, democracy, and sovereignty get shunted aside by "facts on the ground."
The strongest reality in Hong Kong's corner is that an invasion by China would likely irreparably damage the ability of Hong Kong to serve as the huge financial center from which China gains so much. However, rational material effects might not prevail over the Chinese Communist Party's interest in preserving Party-defined stability at all costs, as well as wanting to suppress any inspiration Tibetans, Uighurs, and other non-Han peoples might get from Hong Kong successfully saying "No!" to Beijing.
The dynamic was similar in 1968, as the Soviet Union was afraid that the Prague Spring, actually lead by the Czechoslovak Communist Party leadership (Dubček, Smrkovsky, Svoboda, et al), would serve as inspiration to various effectively colonized Soviet "republics", as well as East European vassal states.
3
I expect there are career people in (at least) the middle ranks of State, the C.I.A., the D.I.A., and probably other agencies, who are acquiring and analyzing intelligence, as well as developing multiple contingency plans. As to what Trump does or does not do with any of that is another story.
As with most things, Trump is in over his head, though he does seem to have a moderately well-developed "strategy" of saying anything and everything, leaving himself the room to always claim he was right. In his first year, I expect few foreign leaders (or even Americans) knew what to make of it, taking every 5 a.m. tweet with a seriousness and assumed level of Presidential commitment it did not deserve. By now it is likely most have caught on to his modus operandi.
My own involvement may bias my view, but I do think the Soviet invasion of Czechoslovakia is relevant, especially the fear that allowing a modicum of independence in one subject "principality" will serve as an example and spread like wildfire to other subjected peoples. I doubt that Xi and the oligarchy enabling him care very much about what goes on in Hong Kong itself. However, the thought that others, especially those out in the western conquered territories, would be inspired by Hong Kong, scares the you-know-what out of them.
2
I remember the Hungarian Revolution in 1953 and the Soviet's brutal response as teenagers no older than me broadcast to the West for help. China is a different kettle of fish but fears dissension within there sphere of influence just as much as the Soviets did. Dangerous times.
2
“Just in case they have an impact on people”? Exactly who does Trump think is paying for his tariffs?
3
Where's the investigation into market manipulation?
13
Just another day in grifter land
13
Got it.
Ttump wants to give preference to Christians.
He doesn't want to wreck their Christmas.
Everyone else?
Naw, who cares about oipoid addicts, he says. His solution to the coal miners is to have a lump of coal in your Yule sock.
Got it.
Can't be a Grinch to Christians.
Suppose the kids will be out of the cages by then...?
5
I can't help but wonder whether this is the execution of an ultimatum from the Koch brothers. They are virulently opposed to tariffs and with the kind of cash they can fork over in the election process (and other ways), it could be their demand. Or it could be Trump didn't like the way his hair looked this morning. Hard to tell.
5
Donald Trump: The blinker-in-chief.
10
Setting aside the pathetic realization by the mentally deficient train-wreck-in-chief that he managed to go to war on Christmas by no fault but his own... the real tragedy is we’re allowing billionaires to tank the economy before Democrats take office... at the expense of the American people... again.
4
Globalism is accelerating the death of capitalism as we know it. We threw our trump card against china by letting the TPP fall through. We wasted precious time . It came back to haunt us. I can not believe that the bind are leading the blind on a global scale. Dark clouds are gathering on the horizon the deluge is building up. I hope to never witness it.
3
So, Trump blinked. I'm guessing that his mouthpiece will report that he had something in his eye...
5
What??! Have Republicans come to hate free markets too?
4
The farmers of America have already received their Christmas gift from Trump.
7
Is it possible he is just manipulating markets for personal gain? Announcing new tariffs to make markets temporarily dip, then recanting...
7
Trump hasn't hurt China. China has proven to be even more dangerous, thanks to Trump. China doesn't need the USA any longer. China is for REAL.
3
"Trade wars are easy to win and fast". or something very close. Incompetence is the handmaiden if ignorance. Both are evident in the current administration. Hope they notice this is from Cincinnati - purple Cincinnati.
3
Trump blinked and he just lost. Now the Chinese know that they can wait him out because he will back track to save himself when the business community calls "Uncle". There will be no trade deal with China with Trump. He and his base have lost big-ly.
7
Why is this president intentionally blocking US market and companies from flourishing. He’s making America weak again.
5
I suspect some of Trump’s buddies are making a killing on foreknowledge of these tweets/announcements. I’m sure many people have thought of that but I haven’t seen in news/opinion pieces on it. Anybody know of such reporting?
12
I hope the SEC is taking a close look at who is profiting from all these market gyrations, I have a feeling Trump and his cronies are somehow gaming the system.
16
@JS
SEC? Is that the Department that the Agriculture Secretary is moving to outback Kansas to save money? No? Might as well be as they are scardy cats just like the entire Republican Party. If the SEC even thought about holding Trump and his cronies feet to the fire, they would likely find themselves on the way to Kansas too.
4
This is a deferment designed for Apple, as otherwise the primary beneficiary of tarrifs would've been Samsung, which does not make phones in China. This deferment will enable Apple to stock up on new iPhones that will be released in September with an inventory to last for three or four months past Dec. 15, by which time the two iPhone plants already operational in India can ramp up to a volume to meet US needs.
Yes, the Trump administration should've thought through this before announcing the additional tariffs, but glad that saner heads prevailed. While this will still do nothing to balance US' overall trade deficit, the tariffs are leading to moving to production out of China to countries like Vietnam and India that are more aligned with US regional goals and policies.
1
Some great American presidents have governed largely from the center, after allowing the inevitable pros and cons of ANY conceivable policy issues play out fairly and squarely on a dispassionate scale or bellwether of America's national interest, after, together with their studious aides, distilling the essence of voluminous briefing papers and experts' missives. They, largely, had no private or personal axes to grind at the expense of policy predilections: to serve America's national interest was after all the over-arching objective. They were presidents of all America. George Washington, Abraham Lincoln, Theodore Roosevelt, F. D. Roosevelt, Dwight Eisenhower, Bill Clinton, Barack Obama come to mind. Their records were not uniformly those of perfection: but the organizing principle in every one of those presidencies was the paramountcy of America's national interest. In contrast, the center of gravity in policy-making since January 2017 has been scandalously skewed towards the chart-bursting egotism, narcissism, nihilism and allergy to serious attention paid to expertise and truth-finding and -telling. The making of policy has been reminiscent of the wildest careening, dizzying zig-zags---alternating between application of maximal pressures, an inevitable triggering of adversarial push-backs, and a resultant relative spinelessness, all the while lacerating America's long-standing alliance with the mature and on the whole functioning democracies of the West.
10
A few players make the market fluctuate and keep individuals and governments hostage. Corporations need to be reigned in.
3
Gee, I wish that Trump would warn us ahead of time when he's going to change his mind on this stuff, so that we could protect our retirement funds by buying/selling our stocks accordingly.
(Oh wait, that's illegal?)
At least we know to plan ahead for after Christmas....
9
@Paul-A
I don't doubt that Trump and people close to him know when he is going to change course on policies, tariffs, etc. I'm sure that they are profiting from the ups and downs in the markets. Trump has pressured the Federal Reserve, cut taxes and regulations on Corporations, all of which have contributed to fueling the stock market. Of course, the vast majority of stocks (even accounting for people's 401ks) are owned by the wealthy. Is somebody investigating the manipulation of the markets by the President? I have not heard or read a word in the News about this. When this house of cards comes tumbling down, the wealthy will avoid most of the pain, but working people will be laid off, lose their homes, and will pay dearly for the party Trump and his cronies have been having at our expense.
7
Why delay tariffs on electronics, including video game consoles and video games? Weren't we just told by this administration that video games were the primary source of gun violence?
11
We have empowered a totalitarian regime by opening up our markets to it. This is the biggest mistake ever made. Instead of using our most powerful asset, our free markets, to promote democracy, citizen liberty, and all that goes with it, including a free press, fair elections, political and economic stability, right of self determination of its neighbour states and on and on, we have prostituted our ideals for basically Chinese slave labor in exchange for massive profits which benefit the globalists.
We have created a monster. It uses our technology to oppress its citizens, it uses it's new found wealth to project its totalitarian power to its neighbouring countries, it's working to form ties with other totalitarian and corrupt governments across the globe. And they think of us as their primary rival. In the long run, trading with China unconditionally will wreck us and the liberties we have come to take for granted in our country.
The globalist have betrayed our country's highest ideals of liberty, for they live beyond our country in their own ethereal plane ungoverned by any country and ruled only by their massive wealth spread across the globe.
8
Here here!
@Steve
I get everything you wrote until the second word of the last paragraph. Correct me if I am wrong, but Trump is not now and has never been a "globalist" but he has certainly betrayed anything and everything he gets his hands on and he lives right here, in our White House.
1
@Linda W Campbell
Hi Linda, Trump owns properties and license his name brand all over the world. He even tried to launch a building project in Moscow. He is a globalist, by the very definition. (Well, I supposed by my definition. In my view, a globalist is someone or a business entity which operates in countries around the world and takes in profits from abroad. And they or the entity has amassed wealth in the billions at a minimum. Apple, Alphabet, Exxon, Pharmaceuticals, the Walton family, and yes the Trumps.) Donald Trump is a globalist wearing isolationist clothing. See the movie "Get me Roger Stone." His propaganda is all Roger Stone populism tailored for one and only one goal, to get Trump elected an any cost using all diseptional means at Stone's disposal.
I’m an agnostic, BUT I was struck on the exemption from tariffs on bibles coming from China.
Bibles...?
What religions get their holy writ printed in China?
And why exempt them?
11
So Trump is finally admitting that his tariffs will hit the American consumers and not the Chinese, otherwise, why delay it until after the holiday season?
5
So Trump says he backed off the tariffs to reduce the impact on consumers during the holidays. So, the Chinese don't pay for the tariffs? Someday the word 'trump' will come to mean incompetent, in addition to corrupt, cruel, ignorant, racist, etc., etc.
10
re MJ Johnson. I think that is what Trump already means to anyone that hasn't lost their perspective in the World.
3
Nothing new here. Trump backs down again. So what's new?
4
No back down. He is playing the market like a fiddle.
4
@Gordon Goiudo
With one string?
1
Aug. 8, 2018, New York congressman Chris Collins, one of trump's most ardent supporters, is arrested for insider trading.
The cell phone call was made from the white house lawn.
Just a coincidence.
11
He leads. Like a dandelion seed.
You can follow it, but be prepared to go where the wind blows you.
7
Human beings are not very good at substituting short term pain for long term gain. That's what this redirection of trade is really all about. China has no intention of giving outsiders equal competition to Chinese consumers, which will ultimately be the largest consumer market in the world. The U.S. should never have put so many eggs in one basket. Now all the whiners, both conservative and liberal, are out whining away, as are the Wall Street losers who are only interested in earnings over the next 12 months. Then there are the Trump politicos, who need the appearance of some kind of victory in the next year. My guess is that they have as much backbone as a worm.
5
It is a game of who blinks first. Is this the first sign?
3
Is there a tariff on red cloth caps sold at cult gatherings?
13
Looks to me like the "Lever-Puller-In-Chief" planned this all out (with financial advisement from Wall Street cronies of course) well in advance beginning with his swaggering rhetoric of his tough tariffs against China (who knows what midnight phone calls to Beijing took place to give a heads up to the government there that they really have nothing to worry over), and ending with yet another upward swing of the profits given to hungry sellers on the floor and their enriched clients.
"Mr. President's" got his own game going on folks that seems to benefit the few most handsomely, and all we do is bear witness to it day after day after day.
Merry Christmas in August.
3
Market manipulation with trade policy announcements. Insider trading issues. The constitution (Article 1, Section 8) gives Congress the power to lay and collect duties .. Why have they ceded tariff decisions to the Executive branch?
4
Congress is a concept. It does not now exist.
8
Sounds like another Trump miracle in the works. Just like the instructions on the shampoo bottle. Create a crisis, make idle threats, watch it unfold, then cave and claim a victory.
14
Trump has become 'The boy who cried wolf'. No one is going to believe anything he says, let alone does...
9
Well, in Trump's own terminology, this is apparently another
"war" we have lost, Trump's War. I wonder if we'll have a surge, or something like that? Trump drew a line in the sand and apparently the Chinese thumbed their noses at him.
7
Hmm... I wonder if the same ‘strategy’ will be applied before the elections
6
@Gvaltat
You betcha'!
I wonder if this is just a random mid-term pump and dump scheme. Tell us who the profit takers of the week are this Friday....
7
That's what I keep saying. How much are Trump and his rich buddies making?
1
How many times has the Trump administration gone back and forth on tariffs? The policy seems to change every other day. One day electronics are exempt but toys are not, the next day toys are exempt but electronics are not. One day the tariff 10%, but the next day it's 15%. The administration is just making it up as it goes along.
It's obvious there is no plan, and none of the policy is informed by any actual facts. That's why the policy changes day by day. Trump has surrounded himself with hacks and frauds who can't agree among themselves, and Trump himself of course has no idea what he is doing.
10
He knows exactly what he is doing, but pretends to be out of it.
Fooled by Clinton, Bush , Obama, and Trump.
The people are. woefully ignorant and are easy pickings for various grifters.
At the negotiating table, nothing says resolve like worrying about what Black Friday shoppers will think. I'm sure the Chinese negotiators are shaking in their boots now.
Acting insane, making a completely insane demand, and then backing off to a slightly insane demand is a "great" bargaining technique until the other side realize you're bluffing all the time.
9
Trump is the type of politician who dumps out half a glass of water then crows about being the only guy who can fill it again,
7
The arsonist in chief has doused the fire once again.
When is the Republican party going to say enough's enough?
My guess is that it'll happen if Trump keeps playing chicken with the economy.This tariff nonsense must be driving the greedy GOP sycophants and their wealthy donors crazy.
7
The markets fall for it every time: Trump chaos theory.
1. Threaten chaos
2. Blame Obama, democrats, or minorities for the chaos
3. Walk back the threat and declare victory
12
I’ve said it before, and I will say it again. And I’ll repeat it until it stops being necessary to say:
If you are not one of the top 20% of wealth holders in the USA, then what the market does or doesn’t do means exactly squat to you, because your stake in the stock market is so minuscule, your retirement account can’t even be measured.
For perspective: its easier to detect gravitational waves from a supermassive black hole millions of light years away than it is to pick out one middle class American’s stake in the stock market.
7
@Austin Ouellette
I measured my 20,000 loss this month
Once again, Trump folded like a cheap suit. He is so utterly transparent. Three days of a down stock market and he's crying uncle.
9
Trump is a genius! Now we won't run out of the bulletproof backpacks for Christmas! And boy, do we need fully stocked shelves on that item.
20
Well, isn't it obvious now that the fix was IN?
Tarriffs, tarriffs, tarriffs, the "market" sinks, well, not so fast for those tarriffs, and the market soars.
Can ANYONE in the know in the extended world of Trump's tentacles blow the whistle??????
9
been saying this for 2 years already. this is where the big bucks are made.
5
This is as predictable as the sun coming up in the morning. The president throws out a hand grenade to show his cronies and rally boys how tough he is. Then people who actually read and have expertise (a concept foreign to this president) complain... and he flip flops (but his cronies think he's a savvy disruption and the rally boys are on to the next angry president greatest hits)
11
Tariff ups and downs, manipulated by the Whitehouse, are just diversions from the facts: Russia meddled in the 2016 election in favor of Donald Trump, and they plan on doing so again.
Robert Mueller report highlights:
http://video.newyorker.com/watch/robert-mueller-on-whether-trump-could-be-indicted
Don't like it? Get out the vote - swingleft.org
6
Looks like the big guy blinked!
4
War of convenience? Give me a break!
4
Will Trump actually risk endangering our economy by imposing new tariffs in an election year? I suspect he’ll back down from his threats in 2020, get a few meaningless concessions from China, and declare victory. Like when he rebranded NAFTA as USMCA.
6
I thought trade wars were easy to win?
7
1. Manufacture crisis
2. Back down from threats made.
3. Think it makes you seem decisive and should receive attaboys.
This Administration is nothing but one manufactured crisis after another manufactured crisis. Lather, rinse, repeat.
6
The Chinese will never back down in this trade war which Trump has initiated-for them being proud and saving face is everything.For Trump this spat with China is part of his campaign gimmicks and he has no trouble losing and being made to look weak and foolish.That is the way he looks all of the time! He will do anything and say anything to keep,a good economy -he thinks that is the path to re-election.He is manipulating the economy for his own personal interests-it will not end well for him or for us!
4
The scary thing,, a billionaire President who governs on whims. He threatens tariffs, markets go down. He indicates relief from tariffs, markets go up.
Don’t he or his cronies have the opportunity to make beneficial trades just before his almost playful announcements re tariffs up tariffs down?
How much do we know about his finances?
4
Stock Markets go up and Stock Markets go down of Trump musings. Someone could profit nicely from this.
More responsible president would be more careful with their words, Not the giant baby Trump, just babbles away.
Add Inside trading and short selling to the list of things to investigate.
6
Apart from the financial profits to himself, his family and buddies, I think the biggest thrill- to him- is the enormous boost of satisfaction his fragile ego gets from the power of his tweets, causing the markets' plunges and rebounds, following his demented orders.
3
Obviously for Trump, the stock market is a toy.
Imagine if Obama had not come in at the start of the Global Financial Crisis and it had been his royal highness, the capricious emperor. Actually an empire would be too much for such an incompetent. The United States has become a kakistocracy.
A kakistocracy is a system of government that is run by the worst, least qualified, and/or most unscrupulous citizens. The word was coined as early as the seventeenth century.
13
"Trade wars are good, and easy to win."
3
The World's Greatest negotiator is conducting trade talks with himself.
8
@Glenn And losing!
3
Does anybody genuinely believe that Trump & Co. are *not* playing the markets with all this manufactured volatility?
13
Makes sense that Trump will postpone the tariffs; especially when you consider those "Trump-Make America Great Again" (or whatever) are made....in China.
Just in time for election season.
4
If Trump can seemingly do whatever he wants, how about an executive order banning high capacity weapons of war?
5
Does the American government have plans about how to respond (other than verbal condemnation), if China militarily "secures" Hong Kong? There is no way of knowing nor, if there are plans, should we know what they are, unless publicity is part of a coherent diplomatic strategy.
I cannot help but think back to 1968 and the Soviet Union's invasion of Czechoslovakia, which the former considered part of its political territory. The U.S. made no response, nor is it obvious what a response should or even could have been at the time. The reality is that when push comes to shove, semi-abstractions such as freedom, democracy, and sovereignty get shunted aside by "facts on the ground."
The strongest reality in Hong Kong's corner is that an invasion by China would likely irreparably damage the ability of Hong Kong to serve as the huge financial center from which China gains so much. However, rational material effects might not prevail over the Chinese Communist Party's interest in preserving Party-defined stability at all costs, as well as wanting to suppress any inspiration Tibetans, Uighurs, and other non-Han peoples might get from Hong Kong successfully saying "No!" to Beijing.
The dynamic was similar in 1968, as the Soviet Union was afraid that the Prague Spring, actually lead by the Czechoslovak Communist Party leadership (Dubček, Smrkovsky, Svoboda, et al), would serve as inspiration to various effectively colonized Soviet "republics", as well as East European vassal states.
1
@Steve Fankuchen
I appreciate that you are concerned, maybe even worried, about what is happening in Hong Kong and the Chinese mainland at the moment. Your question was whether the US government has plans about how to respond if China "secures" Hong Kong militarily.
I do wish someone in our government were thinking ahead to this very real possibility, but since Trump has all but gutted the State Department, there are precious few career diplomats left.
Still ringing in my ears are the joyful chants of my friends and acquaintances when their man Trump was elected: "I like him because he tells it like it is."
"He told it like it was" can go on our nation's tombstone.
3
TBD, thanks for engaging, I like your handle. I know a little something about being an outsider.
I expect there are career people in (at least) the middle ranks of State, the C.I.A., the D.I.A., and probably other agencies, who are acquiring and analyzing intelligence, as well as developing multiple contingency plans. As to what Trump does or does not do with any of that is another story.
As with most things, Trump is in over his head, though he does seem to have a moderately well-developed "strategy" of saying anything and everything, leaving himself the room to always claim he was right. In his first year, I expect few foreign leaders (or even Americans) knew what to make of it, taking every 5 a.m. tweet with a seriousness and assumed level of Presidential commitment it did not deserve. By now it is likely most have caught on to his modus operandi.
My own involvement may bias my view, but I do think the Soviet invasion of Czechoslovakia is relevant, especially the fear that allowing a modicum of independence in one subject "principality" will serve as an example and spread like wildfire to other subjected peoples. I doubt that the Xi and the oligarchy enabling him care very much about what goes on in Hong Kong itself. However, the thought that others, especially those out in the western conquered territories, would be inspired by Hong Kong, scares the you-know-what out of them.
The scariest thing about Alabama is that Werner von Braun is considered a hero. Good luck!
4
"The stumbling blocks include (...) whether Beijing would enshrine in law the reforms it has pledged to make."
Does anyone realize this means very little in China? They are an autocratic system with a rubber-stamp parliament, they can turn on a dime, when they want to, existing laws not withstanding. They'd just pass another law by lunchtime.
3
DT’s pattern of making a market-rattling statement and then reversing or watering down the rhetoric looks like market manipulation, feels like market manipulation, smells like market manipulation.
11
Is the SEC investigating who is making money off of insider trading from Trump's tweets. How many times in the past year has the market hit new highs only to be brought down losing 2019 gains and then skyrocket again?
11
Thank you.
2
Stock traders are like little puppets on Donald Trump's string. He must love to watch them dance to his every twist and turn. What a feeling of power it must give him to see what complete control he has over those whose love of money makes them so utterly subservient to his whims. The genius of Donald Trump is that he recognizes how craven in their greed so many people are—and he realizes that this compromises them and makes them easy to manipulate. A man of principle could resist him, but he knows most men will sacrifice principle gladly for 30 pieces of sliver.
2
The scariest thing about "The Market" these days is that between 85% and 90% of stocks are electronically traded so a domino effect is possible. It's like in Terminator 2 when Skynet takes over.
2
I can't shake the feeling that the Trump cabal manipulates the market.
How convenient to kill a short rally over lower interest rates with the announcement of a new tax, via twitter of course, on almost everything China sends here. Then magically after several days of market declines, the adults in the room roll that back.
We get a bit of a bounce for a few hours and then Bolton announces that he's all for the "no deal" Brexit and the market dials back bit.
Taxpayers deserve to know if Trump is benefiting from this economic chaos. Let's see those tax forms.
12
What's to stop retailers from raising the prices of consumer goods affected by the delayed tariffs?
It's possible with consumer demand spiking for holiday merchandise, the retailers could raise the prices to hedge against the tariffs that will (or might) go into place by shoring up a buffer through increased pricing. Not enough to turn off the consumer, just enough for Trump's next "rainy day"
This is like a sick version of "Simon says"
Trump says tariff
Trump says no tariff
Trump say delayed tariff
TARIFF!
This reminds me of back in the 1980s when clothing companies I worked for would play the embargo game with tariffs and quotas, trying to bet their shipments and orders against the possible sudden embargo announced, and praying they wouldn't get stuck with merchandise still in transit or even stuck at the airport having landed but not cleared customs.
5
If China is paying the tariffs.which today he said 6 billion is now in the treasury from China . How would some of the tariffs impact U.S. customers, if China is footing the bill Mr. President?
4
Please, dear god someone look into Trump/Kushner’s trading activity right before these economic decisions are announced/scrapped.
They could potentially be making multiple millions of dollars from every tweet.
14
I've been saying this forever and I'm no financial expert. But we never hear if anyone really is looking into it.
2
Trade wars are easy to win...but market manipulation is even easier!
15
But -no- tariffs ever on bibles and American flags?
Guess he's talking to his base again.
4
Trump is manipulating the market for his own gain and that of his wealthy friends.
21
Of course Trump profits from these cataclysms he injects into the market. Of course he does. Whether he trades on then every time, or every third or fifth time, he is profiting.
That’s not what worries me. What worries me is that he won’t be held accountable.
I hope I’m wrong.
14
Maybe Trump is playing cat and mouse with tariffs; or is it more of junk policies from a junk mind.
3
The tech sector is already in a recession. It will spread to the rest of the economy as Trump dismantles our economy. Companies are withdrawing job openings and there is no growth in the job market and no growth in industry. It is retracting. The tax payer bailouts of corporate farms did nothing to stem the tide of bankruptcies for small farmers. It merely paved the way for farm conglomerates to buy up more land to plant useless corn for processed packaged garbage food and soda. More Americans waddling around in malls buying Chinese-made landfill. All these tariffs will be absorbed by the American consumer eventually. Raising personal debt, decreasing spending, decreasing savings. The employment rates aren't even accurate. Many people have more than one job just to make ends meet.
6
You really can't make this up! As Reagan (who looks more statesmanlike every day) famously said, starting a trade war is shooting yourself in the foot. Trump is certainly no Reagan - he's a slow learner because he doesn't know how to use people who know what they're doing and doesn't listen. Since no one has a monopoly on knowledge or genius, especially those who claim to, the true mark of leadership is to obtain and use solid advice.
4
Nice, that this announcement coincides with the escalation of protests in Hong Kong. If anything, now would be the time to speak out against PRC’s aggression and threaten sanctions.
Of course, that would require Trump to have a desire to promote democracy globally, which he does not, and would involve delaying the planned announcement that his billionaire buddies almost surely profited from today.
If we thought the election interference was bad in 2016, we’re in for a whole different animal; not only does Russia have a vested interest in the rise of this sociopathic autocrat, but now we have true oligarchs that are profiting from power in a way that would make Cheney and his Halliburton cronies jealous.
11
He's walking a tight rope. Promote tariffs for his base; mitigate for the market.
2
Just have to wonder how DJT's stock portfolio is faring during this market volatility....
7
Trade wars are easy to win...
3
Tough tariff policy turns to Chicken policy now, who is surprised. Ha we will wait another few months and the Chicken will come back to roost. Its a dept we will al pay back, its only a matter of time. The deficit has gone haywire and all the hawks are mute. What a bunch of lune policy strategist if there is even any in this insane filled administration.
2
Who's making money off this?! Are 45 & his buddies playing the ultimate insider trading game? He lets them know he'll be flipping around the tariffs & they wait for the drop & buy low, knowing he'll pull it back & the market will bounce. Somebody's profiting from this (planned) chaos.
6
When Trump wins America loses.
3
Has it occurred to anyone but me that Trump is jockeying the stock market up and down with threats about tariffs and then backing off? If one could predict when he's going to do that, one could make a lot of money. But of course he's the only one who knows.
Not that he's one to use his position as president to benefit himself. I'm just wondering if anyone else is as cynical as I.
21
So Ttump is holding off on tariffs so as not to cause the price of consumer goods to go up for Christmas.
But at the same time, he insists that tariffs don’t raise the price of consumer goods.
That’s even deeper than electrons that can be in two places at once.
Good thing he’s so good at molecular physics. What a relief.
14
This is not a modern government’s economic policy or management, it’s reality-show hijinks, Trump drama and mismanagement we’ll all pay the price for—especially his poor (rural and economically poor) supporters.
9
But they will continue to support him as he will save their guns and continue to appoint judges who will erode women’s rights to control their own bodies.
3
This is not how any country, much less the US, should be run. The words “chaos”, “uncertainty”, and “volatility” are now cliches but in fact we resemble a 3rd world tin pot dictatorship. Do Trump’s supporters not understand this? How can they be content with it?
8
I thought video games were the cause of mass shootings. Now we can't risk buying more?
5
Buy your Christmas junk early!
Or don't buy it at all. Make handmade presents, cards, tree ornaments. Shop second hand stores.
We don't have to buy Chinese junk to celebrate the birth of Jesus, do we?
14
Apparently you do or otherwise risk your re-election chances. Trump, darling of evangelicals, should know.
1
If I were the Chinese, I'd raise the prices 10% anyway, grab the profit, thumb your nose at The Donald and send a re-election message to the Americans. After all, where would the buyers go to supply you with your Christmas junk and The Donald will increase the tariff on 10% December 26th.
4
The conversation is always about the poor American consumer, me, me, me. It’s about time we revisited a really great American who was smart enough to know that he had to insure there were customers, fellow Americans, who could afford his products so he paid them well and we entered an era that saw the middle class surge. The last forty years have been all down hill for America’s Middle Class as first Milton Friedman then legions of vultures and vulture capitalists followed. The movement to reward shareholders not labor, closely followed by management in all fields who either off shored jobs or used financial voodoo to increase shareholder value, or just destroy companies and strip mined the carcass, the heck with fellow Americans and ignore the long term. Then we have had an era where every MBA was trying to figure out how to steal the other guys cheese rather than creating something like Mr. Ford, plus one after the other in a ponzi scheme like move to buy worthless unicorns, destroying venerable companies balance sheets along the way,”:” tumbler” in the news today another very bad buy by Melissa Meyer I believe who nevertheless got what 50 million for her turn at the helm, these internet folks make the old insider deals look like pikers: they don’t just make bad deals they make billion $ bad deals. Walmart, Home Depot, Amazon, Uber, Airbnb all designed to canbabalize another industry and destroy small businesses. The whole system eats its young, this will not end well.
13
The SEC should be investigating who is benefiting from these mad swings precipitated by a mad man.
12
Re: Stock Up for Holiday Shoppers.
Wait! So, despite the misinformation, i.e., lies, as shoppers, i.e., WE do pay the cost of the tariffs.
I means otherwise there would be no need, right?
16
Putting aside the possibility that this is all about stock market manipulation by Trump to benefit himself, his family and his rich friends -- and I believe that is a distinct possibility that should be investigated -- Trump was eyeball-to-eyeball with the Chinese and he just blinked. He announced as clearly as he could that the U.S. is not prepared to suffer the economic pain necessary to win a tariff war. Trump just waved the white flag. All that is left is to work out the terms of surrender.
20
Is Trump purposefully manipulating the stock market? I don't know, but I do know that he's manipulating the stock market. He says one thing one day and the stocks, of course, go down. He says the opposite thing the next day and the stocks, of course, go up. Aside from the fact that a president ought to say what he means and mean what he says -- which Trump doesn't -- all this seesawing and flip-flopping is wreaking havoc, and everyone knows there's money to be made in havoc if you are well positioned to do so.
12
“Markets soar”?
“Markets” have been running in place +/- 2% for many months.
10
@Steve Singer The S&P500 is back where it was in May.
1
We are just another bankruptcy to Donald Trump - I am sure his family has traded to hedge and profit off his irresponsible decisions. I can’t wait for this nightmare to end.
11
Up , Down even sideways the end result is
trump tyranny.
15
If China is paying for the tariffs, as Trump has said many, many times, then why is he relaxing the tariiffs for U.S. holiday shoppers?
17
I am so sick of this administration. There are apparently no principles or real commitment to anything they do, except perhaps destroying the environment and denying science at every turn, and no lie they will not tell to justify their incompetence.
8
What a negotiating strategy! Part of me says Trump has no clue about what he’s doing. The other part thinks he is manipulating the market and making money for his cronies. Either way, Americans are losing.
9
These times are dangerous to the entire planet and read like a “grimm” fairy tale... we just had an instalment of The Boy Who Cried Tariffs. Hopefully someone in the GOP will soon holler The Emperor Has No (pick one) Smarts / Sense / Heart / Moral Authority / Clue / Chance of re-election.
7
What's good for the S&P 500 is good for America.
Wonder if Trump is profiting by going long before an announcement like this and short when announcing new tariffs. Don't tell me he can't. Also, as with many things Trump, he's doing the wrong thing to achieve his stated goals. Rather than tariffs he should be working with Congress on capping imports from China. This would shrink their market share and force them to negotiate...if he really wanted to change their behavior, that is.
6
Capping imports from China? They would retaliate. This is not a zero sum game.
2
@Mary Sampson Of course they’d retaliate but who cares? They buy much less from us than we buy from them and tariffs still preserve their market share in our country. Caps, cut into market share which is more threatening and liable to achieve the purported goals of opening markets, reducing IP theft and forcing tech transfers. Caps are better than tariffs in this case.
Excuse me, but I thought China was going to pay all the tariffs. So we wouldn't feel a thing.
Or was that Mexico. They all look alike.
17
Didn't trump say that the tariffs on China was not hurting American consumers. If this is the case, we is he eliminating certain tariffs making the cost to consumers on the holiday season less?
8
So tariffs on toys and electronics spare consumers just in time for the holidays. That's certainly a good thing.
But after that, might this delay only hand China extra leverage over our famers, given the spring planting season? Would love to hear from someone who knows farming (I[m just a city guy).
5
Does the American government have plans about how to respond (other than verbal condemnation), if China militarily "secures" Hong Kong? There is no way of knowing nor, if there are plans, should we know what they are, unless publicity is part of a coherent diplomatic strategy.
I cannot help but think back to 1968 and the Soviet Union's invasion of Czechoslovakia, which the former considered part of its political territory. The U.S. made no response, nor is it obvious what a response should or even could have been at the time. The reality is that when push comes to shove, semi-abstractions such as freedom, democracy, and sovereignty get shunted aside by "facts on the ground."
The strongest reality in Hong Kong's corner is that an invasion by China would likely irreparably damage the ability of Hong Kong to serve as the huge financial center from which China gains so much. However, rational material effects might not prevail over the Chinese Communist Party's interest in preserving Party-defined stability at all costs, as well as wanting to suppress any inspiration Tibetans, Uighurs, and other non-Han peoples might get from Hong Kong successfully saying "No!" to Beijing.
The dynamic was similar in 1968, as the Soviet Union was afraid that the Prague Spring, actually lead by the Czechoslovak Communist Party leadership (Dubček, Smrkovsky, Svoboda, et al), would serve as inspiration to various effectively colonized Soviet "republics", as well as East European vassal states.
2
This is Market manipulation not trade negotiation. Frankly people are benefiting from the fluctuations in this market and it isn't the American family whose 401k is tied up in the market.
12
@Travis `
I agree. Trump knows his tweets will influence the markets and I will bet he and his family are directly benefitting from this. Remember, he did not put his assets in a blind trust and he hides his tax returns.
10
It's essentially a tax cut for the middle class in time for the Holidays.
1
The damage is already done. I work retail. The new Fall product that we put out next week is either a lesser quality or a higher price point than the version we had last year.
16
@JCAZ
I've already had to explain to my customers why our quotes had to jump.
Even with American suppliers, costs go up... I mean, if your competitor suddenly goes up 25%, you'll go up 24%, reap a mean profit, and still look like a hero compared to the other guys. That's just business.
So essentially the President can, on his own, make decisions that affect the stock exchange, international markets and the welfare of millions. I never thought the POTUS was so powerful because of the check and balances. So what makes us different from any dictatorship?
13
@CollegeMom
Non, we are a dictatorship.
1
An investigative reporter should really be looking into Trump's market manipulation vis-a-vis tarrifs and other comments he makes related the Federal Reserve, etc. Trump can and does say things about specific companies, threaten tariffs, and more finance-driven comments that clearly cause the stock market to fluctuate dramatically. How many of his billionaire / mega-millionaire friends--domestic and foreign--are getting richer when he makes these market-moving pronouncements? How many on Wall Street are being "consulted" in private conversations with Trump before he generates another tariff tweet, allowing these elites to make stock purchases or sell short or trade currency or whatever the next tweet will indicate and make huge gains?
I'm not a conspiracy theorist by any means, but the fluctuations in the stock market that are Trump induced have a bottom line: someone always profits. Who are they?
10
I wonder why we are not hearing more about stock market manipulation regarding these "trade talks." It is a slam dunk If Trump says the negotiations are not going well, or threatens a new tariffs the markets tank. A few days or a week later the seemingly magnanimous Trump delays or holds back and the markets soar. I know I'd like to have advance notice of the market moving tweets - who within the administration does and what do they do with that knowledge? This would be a great NYT graphic Trump statements and market moves vis a vis the trade wars.
10
Trump's manipulating the stock market. First-the announcement of the new tariffs and the market drops 500 points. Then, tariffs delayed till December and the market jumps back 400 points. This is a clever trick so Trump and his friends can make easy money. Watch this crook do this again and again.
10
The market reactions to these tariff threats are now so predictable that one must suspect the possibility that some folks are making money off these huge price swings—if not Trump himself than those who may be able to know just prior to announcement. All his inner circle and phone buddies should have their trade accounts scrutinized for patterns of buying and selling advantageously around these tariff disclosures.
8
@Luthercole And this will go on and on until WE, the *regular* American people all go bankrupt. Who is not sure that this market manipulation is not so, just a ruse to let tRump and his buddies make millions. And, who doesn’t think, in one or another, tRump is making money, on the side as well, whenever he pulls this. Surely his bud Putin is also a beneficiary.
Help me understand this...
The tariffs will be paid by the Chinese, says Trump.
But postponing them will be a Christmas gift to American consumers.
How does that work, exactly?
Who knew keeping up with a stable genius would be so complicated?
9
Why would tariff be a concern of the Xmas shoppers, China is paying! Oh, Trump is concerned about the Chinese shoppers, not the American shoppers
6
“We’re doing this for the Christmas season,” he told reporters around noon. “Just in case some of the tariffs would have an impact on U.S. customers.”
Trump's economic theory is mind-boggling. He wonder if tariffs impact U.S. consumers. Well, duh. Of course, he has claimed in the past that tariffs bring money INTO the U.S., as if they were some sort of revenue stream.
I am sick to death of this moronic "leadership."
10
@Mary Frances Schjonberg
He's trying to play it both ways, and then wondering why it's not working.
The whole point of the Chinese tariffs was to drive business to American companies. But you can't both bring in massive amounts of money via the tariffs AND buy American. It's one or the other.
Not to mention, if you artificially rise prices from one source (in this case China) then everyone else is going to raise their prices to just under what they cost (as long as they're staying lower, they still get the bid). Then EVERYTHING becomes more expensive, not just the stuff from China.
Does anyone doubt this was a calculated jolt/pullback designed to make a few folks a ton of money in the stock market?
12
A steady stream of big jumps in the stock market, both up and down, all precipitated by a Trump tweet. It's a safe bet there are folks in Trump's inner circle that are getting advance notice each time, so they can make quick, easy money based on this insider information provided by Trump.
And, it's also a safe bet the SEC will never investigate. We're at the point now where it's clear that federal authorities, under Trump's direction, will not investigate or pursue any potential crimes committed by Trump or his inner circle.
Let's not kid ourselves any longer; our democracy is dead. Killed by Trump. Enabled by McConnell and every Republican in the Senate.
12
Good call! resolve the trade differences before recession hits us
Nothing like picking winners and losers in your own economy by applying taxes (tariffs) arbitrarily and unequally, bending the rules for favored industries (donors). This is the GOP in 2019.
5
SEC, if you're listening, I hope you are monitoring trump and his associates trading.
10
Sure looks like those trade wars are easy to win. Anyone else tired of all this winning yet?
3
Hey, trade wars are easy to win! At least that's what the stable genius says. But it certainly looks like we're in for another dose of trump style socialism with yet another (this will be #3 and counting) $16 billion bailout for farmers!!! Alas the Blue States are having to put out for Red States for the decisions of a president elected by the Red States. Meanwhile the deficit is going through the roof setting new records with no end in sight.
3
Another example of Trumponomics aka Republican corporate socialism. First, picking winners and losers, namely which importers and their customers should suffer to prop up which inefficient domestic producers. Second, diverting all the tariff (tax) revenue, and more, to favored constituencies such as giant corporate farms in rural states. To rephrase Karl Marx: "From each according to his needs, to each according to his ability ... to lobby."
6
I appreciate the heads-up about replacing my iphone by December 25th. Doing my part to make America Great Again.
Why does the US delay the tariff? Someone in the WH has said multiple times that China is gonna pay for it. No?
5
Oh, if I could only place bets on how much donald's bunch is skimming off the trades made before donald makes these insane "180" turns with no notice. Notice the public is aware of anyway.
Just one more "cess" in the pool we call the trump administration.
11
Uh, I thought China was supposed to be the big loser in this trade war.
Yeah, wait until Christmas so people can buy more things they don't need.
4
So much for trade wars being easy to win and tariffs paying for themselves. SMH.
3
This is so absurd and so blatantly political .
Trump is worried about his base-
3
I just want to note there is not one article about guns or the recent murders in today’s paper, thus letting the issue slip away again and controlling to narrative against gun control and all the dead Americans.
6
@Justice4America
I agree 100%.
Starting with the devastating news yesterday (relaxing of Endangered Species rules); and the tightening of legal immigration statutes and today - this so-called 'tariff relief'. Red State grandparents are much more concerned about being able to buy the grand-youngin's iPads and video games at Walmart without the threatened tax hike (i.e. tariffs).
This sociopathic monster has successfully moved El Paso and Dayton to 'below the fold' status.
Way to go, Dotard.
NOT my president
1
@Justice4America
Unfortunately this is just how things are in Trumps America.
There are so many plates spinning, between the tariff wars and the rollback of environmental protections and the Epstein situation and Hong Kong and the wrongdoings of the many associates of Trump... there is only so much "front page" space.
1
How about a moratorium on electronics and everyone buys a book?
8
Donald Trump is manipulating the stock market, through his improvised trade disputes, his erratic statements about tariffs, taxes, postponements, delays, etc. This is most disruptive and uncalled for. It is like the entire US government is his playing toy!
How long can this be tolerated?
7
I believe that Donald Trump gets his kicks out of "manipulating" the markets with his daily rants and proclamations about the trade wars and all the other stuff he constantly tweets about. He seems to delight in the power of his twitter "pen." Unfortunately, he is damaging our country's reputation and ability to negotiate trade deals. Please vote for anyone but Trump in 2020.
4
@Morningstar, more than kicks. Profits.
2
So this going to help farmers, factory workers and coal miners?
trump’s playing "tough guy" trading games with the US’s largest debtor nation with considerable global financial clout is perilous stuff. He is playing with fire when he naively and recklessly blacklists and imposes tariffs willy nilly. He also has a visceral reaction to anything linked to Obama and so pulled out of the TPP isolating the US and giving China an open field to play in. Instead he's taxing the US consumer and businesses in a failing effort to get China to agree to a fraction of the demands TPP would have obliged them to accept anyway. Already Chinese investment in the US has plummeted by nearly 90 percent since trump took office (notice how FOX news ignores these things). As these developments mount a consequential disastrous effect on the economy at some point is imminent and will be well beyond the grasp of the stable genius to manage let alone control.
3
I meant if you already have stocks. If you want to get in equities, if there's a downturn that might be an opportunity. But You're not supposed to time the market. So you might want to talk to and adviser.
Sooooo, anyone want to venture a guess on how big the eventual retailer bailout/welfare will be?
3
But I thought the Chinese pay for the tariffs. Wouldn't we want them to be in place for Christmas?
5
Although Trump is delaying imposing tariffs on some imports from China until 15 December in order not to hurt “holiday shoppers,” Beijing is hardly impressed, and is strongly protesting against the other tariffs set to come into effect on September 1. Lists of the specific product types affected are due to be published later.
The current reprieve is likely to be temporary and does not mean the end of the trade war.
Given the deterioration in bilateral relations in recent weeks, it remains to be seen whether the two sides are going to hold another round of talks in Washington next month at all.
As predicted, Trump is expecting something in return: China must now follow through on its promises to buy more from American farmers, and to stem the export of opioid fentanyl to the US.
Would that happen?
2
Let us see what are retailers thinking in view of the latest announcement from Trump: 1.Tariffs are suspended only temporarily. 2. The suspension is subject to the whim of Trump who may decide to revoke it based on what he saw on Fox News, or which side of the bed he got out in the morning. 3. Who knows what Trump will do after Christmas this year?
All these suggest that retailers see a lot of uncertainty in the economy. Will they stockpile? If they do then it will increase trade deficit which will further increase Trump's ire, which will further increase the chances of his reckless announcements about tariffs. Retailers may also jack up the prices in anticipation of higher costs in the future. Nobody can be sure, least of all, an ignoramus like Trump.
We can get some insight from fundamental tenets in economics and finance that uncertainty adversely affects investment and increases the cost of capital. Bottom line is that consumers will pay a higher price.
10
I don't understand.
tRump said that the Chinese pay the tariffs.
Why is he giving them a break by not having them pay these fees because of the Christmas holidays when.....uhhhh....they don't celebrate Christmas.
I forgot.
Trade wars are easy to win.
10
Giving all his friends and supporters time to allow their Portfolios to recover?
9
Farm bankruptcies are up 45% in the Midwest. Trump's ignorance continues to harm everyone from farmers to rural communities. Farmers in Minnesota are angry after Agriculture Secretary Sonny Perdue made a joke suggesting they're whiners during a listening session at which some had expressed their concerns about trade. Let's hope farmers change their vote in 2020.
24
Does anyone know how much money the resident of 1600 Pennsylvania Avenue takes in every time his actions and his tweets cause wild stock market gyrations?
Does anyone (that's you - Congress and the FTC) care?
27
@Ben
Tax returns.
4
I hear a lot of people saying that they are manipulating the stock market and cleaning-up as a result. "They" being those in-the-know on the "inside."
11
It's the last holiday season before the election. That's all you need to know. But if you want to know more, read the list of items involved and see how dependent we are on China. We shouldn't be, but that Maglev train left the station long before Trump.
6
Sounds like a solid battlefield strategy. Trump learn it in West Point?
2
This makes sense because Americans need more Chinese toys and non-biodegradable plastic stuff. And more US debt to China. Sad that no other countries make stuff that we would want or need.
We don't make much anymore either. So let's not try to 'Buy American' as some shout.
Central and South America could benefit from US purchases that are not drugs. They make some beautiful things. Oh but then we would lose the profitable gun business that we export south. Such a conundrum.
6
"But tariffs on consumer electronics, video game consoles, certain toys, computer monitors and some footwear and clothing items is being delayed until Dec. 15, giving retailers time to import the rush of products they need for the back-to-school and holiday shopping seasons."
Last time I checked, back-to-school and Christmas happen every year. So does Trump now plan to rescind these tariffs again next August to accommodate next year's shopping seasons? I wonder if Xi is having a good laugh over all this?
11
Does the American government have plans about how to respond (other than verbal condemnation), if China militarily "secures" Hong Kong.? There is no way of knowing nor, if there are plans, should we know what they are, unless publicity is part of a coherent diplomatic strategy.
I cannot help but think back to 1968 and the Soviet Union's invasion of Czechoslovakia, which the former considered part of its political territory. The U.S. made no response, nor is it obvious what a response should or even could have been at the time. The reality is that when push comes to shove, semi-abstractions such as freedom, democracy, and sovereignty get shunted aside by "facts on the ground."
The strongest reality in Hong Kong's corner is that an invasion by China would likely irreparably damage the ability of Hong Kong to serve as the huge financial center from which China gains so much. However, rational material effects might not prevail over the Chinese Communist Party's interest in preserving Party-defined stability at all costs, as well as wanting to suppress any inspiration Tibetans, Uighurs, and other non-Han peoples might get from Hong Kong successfully saying "No!" to Beijing.
The dynamic was similar in 1968, as the Soviet Union was afraid that the Prague Spring, actually lead by the Czechoslovak Communist Party leadership (Dubček, Smrkovsky, Svoboda, et al), would serve as inspiration to various effectively colonized Soviet "republics", as well as East European vassal states.
3
@Steve Fankuchen Beijing will roll into Hong Kong. The U.S. will tut-tut and do nothing about it. Nice revisit of the invasion of Prague. Czech pop singer and Charta '77 signatory Marta Kubisova said that everyone thought at the time that the thugs who took over after Dubcek was deposed wouldn't last over two years. They never imagined it would take twenty years.
1
@Flaminia
Flaminia, thanks for engaging. As militarily neat as the invasion was, it was as politically inept. The Soviets pretended they invaded at the request of the Czechoslovak Communist Party to put down a counterrevolution. However, when they got there, they couldn't find any high-ranking puppets to play ball with them. Among other things, they dragged Svoboda to Moscow, but when he threatened to kill himself, they backed off, because they had previously made him a Hero Of The Soviet Union. (I'm only 90% certain of this anecdote, and would welcome any correction or confirmation -- though not from the usual Leningrad/St. Petersburg trolls.)
1
Did the President suddenly have an epiphany that tariffs are taxes on US consumers?
8
Sure would be interesting to see the stock purchases of members of Team Trump in the last few days.
12
American retailers are going to need to stock up on Chinese inventory to avoid December tariffs. Trump has just given Chinese manufacturers a huge gift. Another example of Trump's chaotic and irresponsible leadership.
4
Happy Kwanza, Christmas and Hanukah to you to President Trump. What I am wondering is what will happen when the holidays are over? Will the stores be empty? Remember there our other holidays: Easter, Passover, Bar Mitzvah and Bat Mitzvah, First Communions, and many more. What will we do then? Or how about graduation parties in the spring, weddings and anniversaries? Will the shelves be bare? Will Amazon have many "not availables" ? How far will this go? It was corporations that started to make everything abroad, and now that these corporations have moved to China, what will we be short of? This would have never happened if industry had invested in this country and our workers.
1
The Trump administration is delaying the tariffs until after the consumer shopping season. What happened to his "Trade wars are good, and so easy to win" strategy? So he's finally admitted American consumers will pay higher prices for his poor judgment? MAGA yawn.
7
This action is an acknowledgement that tariffs are a tax on American consumers. So someone needs to remind the dotard, the next time he brags that his trade policy is bringing in "billions", that he is really only picking the pocket of his supporters, as well as those of us who think he is unfit for the office.
6
This is probably stock market manipulation from the White House to profit Trump insiders. But Trump owns Attorney Barr, so nothing will be done, and Republicans in Congress will block any investigation.
on the other hand, it could be that Trump blundered until someone whispered in his ear "You forgot about Christmas.'
Either case is plausible.
8
After 99 years under British rule, Hong Kong reverted back to Communist China on July 1, 1997. After living with much more Freedom than mainland China, Hong Kong has lit a fuse as the Chinese economy falters. It's a great time to negotiate a better US trade deal with China, something that Presidents Obama, Bush and Clinton could not achieve. America will benefit for decades to come from having one the worlds best negotiators in the White House.
@P McGrath
I am assuming this is sarcasm.....
1
Well, check your local Wal Mart and they have all ready done their stock up. They usually start discreetly putting stuff out the last week of September. I would also imagine Ivanka's stuff needs help.
2
Is the plan to impose tariffs but just not when they're likely to have a measurable impact? If so, that sounds similar to the pattern of having forceful words for leaders abroad but just not when speaking with them. Actually, though, we always hoped we'd get through this with minimal damage so "all blather" would in fact be the most desirable course for this presidency (the forked tongue of the bloviator notwithstanding). Unfortunately, Mr. Trump does manage to inflict meaningful pain at home while he stabs blindly and ineffectually at trade and foreign policy.
If your business is favorable to the Trump administration, then you will get favors in return. If your business is unfavorable to the Trump administration then watch out. This is Russia. Next time a Republican says something about laissez faire capitalism or not picking winners and losers, I’m going to laugh and laugh and laugh.
5
@Eric
Then try to avoid any press releases from Joni Ernst, the queen of ethanol subsidies, on the evils of socialism. You will hurt yourself laughing.
1
Thanks TJ. Beware of socialism! What a hoot! That was so funny I fell out of my chair. Ouch that hurt.
Trump begins backing down. Of course he just lost some big leverage; if tariffs on holiday products were going to hurt U.S. consumers they were going to hurt China more.
Consider Trump's failed tariff trade war over. China has won or rather everyone has lost - with Trump the biggest loser as he has accomplished nothing and produced economic distress.
China will wait the Trump administration out until the elections are over and negotiate terms that both sides can agree to afterwards.
Who needs insider trading when you're just a tweet away. The shorting of America in your face.
10
And we accuse China of manipulating the markets. LOL
9
Trump: “As usual, China said they were going to be buying ‘big’ from our great American Farmers,” he wrote. “So far they have not done what they said. Maybe this will be different!”
Yeah, somehow I doubt that China said those words.
5
Current U.S foreign and economic policy: “Look at me, mommy! I’m playing a game.”
3
OMG, so stores can stock up for Christmas?! The economy is being managed by the political aspirations of a card carrying conspiracy theory, race baiting, no nothing narcissist. When the economy tanks this time there won’t be anyone to save us. But store shelves will be packed with tacky Christmas junk, so there’s that.
6
Do you think the rest of the world hasn't noticed that you cannot make a deal with Trump? His actions are totally capricious and he cannot be trusted. These people are not fools.
The fools are on Fox News where I am sure they are loudly proclaiming that Trump has saved the day again by not implementing the tariffs they were praising yesterday.
4
Many have suggested and SEC investigation. A good place to start is with Russian Sovereign Fund(s) and Russian oligarchs. Probably a good proxy for what's going on.
6
Tariffs for December, huh. This must be that War on Christmas they have been talking about.
532
@Susan R
So the first thing a financial commentator said this morning was’
‘sounds like market manipulation to me”
50
@Susan R. No. No, Susan. If you put the Tariffs in place on Dec. 15 your holiday gifts won’t be affected. Maybe for Easter.
1
@B. Rothman Need to look farther than tariffs. The US has had a modified Marshall plan for China thinking about cheap tighty whities at Wally World. Look at whole picture . With Chinese past history and present history. Trump is about 20% correct.
We know who loses in the USA China trade wars, but I'd like to know who wins, in particular if it is to the benefit of Russia. There are articles that point to greater ties between China and Russia because of the break in China US relations, but what else is going on as the two largest economies falter. And while we're at it, how about the tariffs on other countries? Who does this chaos help?
I wonder if Trump thought this up all by himself.
142
@ubcome
Russia is rich in natural resources, which dominate Russian exports. Oil and gas exports are the main source of hard currency. Russia has the largest reserves & is the world's largest exporter of natural gas. It has the 2nd largest coal reserves, the 8th largest oil reserves & is the largest exporter, or 2nd largest exporter of oil in the world in absolute numbers.
Russia is a leading producer & exporter of minerals and gold. Russia is the largest diamond-producing nation in the world, used primarily as industrial diamonds.
Russia imports large amounts of food, ground transports, pharmaceuticals, textiles and footwear.
Russian manufacturing is inefficient and lags First World countries. There is a Russian adage that "They pretend to pay Us and We pretend to work." which rings true in almost all industries.
11
@ubcome Don't have a full answer but Brazil and other will win as they fill the agricultural void and that will never return to normal as at a minimum prices will be lower. This is a good article.
https://www.scmp.com/news/china/diplomacy-defence/article/2140310/who-will-be-winners-and-losers-china-us-war
10
@ubcome
It helps Trump because all his supporters will believe this is a win. His supporters think they won when their farms lost sales. His supporters think they won when the automobile plants closed. His supporters think they won when the rich got a huge tax break and their kids will pay for it. His supporters think they won when more coal plants were made to operate longer. His supporters think they won when they are paying more for Chinese goods and get back nothing. All this is winning to Trump supporters. This is why they are so happy. Liberals just don't get winning like Conservatives do.
48
Trump likes fits & starts to make his Presidency as episodic as the Apprentice. Builds suspense, What is he really going to do?
With gyrations in the stock market, every time Trump issues a new lie, (not that I'm accusing any Republicans of insider trading), but if its not going on, somebody's missing a golden opportunity.
Lastly, Trump reportedly decided the Chinese Trade War was a good idea all on his own.
Somebody is whispering in his ear about the biggest budget deficit in US history, stock market fluctuations, and what the next Republican recession could do to 2020 elections.
Trump is also aware that he is liable for indictment & trial by the Feds, & NY State after them.
Gives him some urgency to fix this China thing blunder.
1
I believe there is more cynicism in the cWHr's actions than we give It credit for. The old tenet "buy low, sell high" applies. The cWHr kicks the feet out from under businesses and the stock market, Its corporations and friends with advance notice buy stocks and futures at a reduced cost apparently reducing the shock to the system by a bit, amass larger portfolios, then sell off some at a higher price when, again with advance notice, the cWHr "capitulates" and rolls back or delays Its actions. What a financial hero It is. The reduced effectiveness of the FTC cannot detect or prevent the scheme because what's sold off does not always match what was just bought. Not enough walnuts and too many peas.
150
@Angelsea I have googled "cWHr" and read the article, and I still can't figure out what you mean. I assume "corrupt white house", but no idea what the "r" stands for.
12
@Wut I googled it as well. It stands for California Wildlife Habitation Rehabilitation.
4
@Angelsea
or, "current White House resident". Seems to fit the context, but I was guessing while I read, as well.
12
So basically a sales bump to Chinese manufacturing to fill everyone's Christmas stockings with electronic trinkets before you implement the tariffs for the retail lull post Christmas? Sounds well thought out.
239
@Brightersuns Yes, and when the economy naturally slows in the 2nd quarter he will ramp the threat again when it matters very little, then he will back off coming back up to elections again. I feel like I can energize the brain cells in my arm pit and keep up with his thinking. Meanwhile Corporate America can ride the ups and downs and just increase their share of the market while retirees and others enjoy minimal returns. And amazingly, given our purposeful social engineering he will get away with it.
51
@Brightersuns So Trump finally realized that tariffs end up on the consumers?
20
@Brightersuns
It's just another excuse to delay tariffs. He knows that full implementation will rock the markets, because they sink whenever there's even the slightest speculation. So this way, he gets to play it both ways: No tariffs are implemented (and he avoids the economy receding while he's gearing up for his re-election bid) but his base (and other low-information voters) still think he's "tough on China".
17
Interesting that with pressure from his business buddies, Trump backs off tariffs. Even with the pressure of the majority of the country, Trump and his buddies won’t do anything about assault weapons.
340
@SLD
Sad to say, Trump's buddies are about making money, not interested in saving life.
36
@SLD I agree the buddies get upset if they're losing money. Many people here seem to think there is stock manipulation. But I suspect mainly hubris and stupidity. China has a $2 trillion economy, with about 10% accounted by exports, and about 20% of those exports accounted by US. Sure, the tariffs hurt them too, but the more the US tries to force them to do something, the less likely they are to do it if only because Xi also cannot look weak to his "buddies." Can you imagine how stupid this looks to them?
7
@SK
I think Trump's buddies indeed all about making money and they know his mentality. Every time he makes a tariff announcement, I'll bet they buy stock. Then talk to him to get him to back off of some of them - and I'll bet they sell.
--Also, someone needs to tell Trump that Christmas is Dec 25th, not the 15th. There are a whole lot of people (including me) still shopping those last 10 days. How is that going to help retailers.
5
I guess this indicates that corporate America, especially in the retail
sector, knows the truth: tariffs on imports are costs paid by Americans. The agricultural exporters figured out a while ago how damaging retaliatory tariffs are, so Trump has been using our tax dollars to buy them off. I wonder when Trump voters will figure it out. Not this Christmas, apparently.
But not to worry. We all know that trade wars are easy to win.
264
@Mike Iker Now that China is laughing at us, it would be a great opportunity for Trump, once in his life, to admit he made a big mistake jumping into a tariff war. But what are the odds of that ever happening?
4
It’s a sign of the times when this administration will do something in response to pressure from businesses re: tariffs, but does nothing in response to pressure from its citizens re: gun violence and mass shootings.
563
@e Coli
The motivation behind Trump's delay of tariffs until after Christmas is a combination of self-preservation... he's being presented with evidence of a likely recession next year as a result of his idiotic trade policies... and avarice... he or individuals close to him are trading with advance knowledge of his remarks; remarks that drive the Dow up or down hundreds of points.
8
@e Coli Trump really doesn't care about the little people being shot. After all, he has his Secret Service protecting him. He had a jolly good time visiting El Paso.
4
Do I dare suggest that maybe it is time to revisit the TPP? Realistically, that will never happen under the Trump administration. But I am driving home the point that this White House does not know what it is doing re its reckless self-inflicted trade war with China. No man is an island, particularly when dealing with that Asian land mass which has had centuries of mastering the art of the deal. Trump is playing checkers when chess should be the game of choice. Meanwhile, we consumers suffer until Trump Inc can undo the web that they have spun capturing themselves...and us.
105
@Kathy Lollock
They make money when it falls and will profit when they make a surprise deal. Remember Mexico and Canada they reached deals , no one remembers the trades.
8
@Ralph Petrillo Because the new deals with Canada and Mexico were hardly new and actually benefited the Canadians and Mexicans,
Ooops,
5
@Ralph Petrillo, neither Canada nor the US Congress has ratified what Canadians rightly call NAFTA 2.0. It remains a paper deal.
8
A blustery announcement of tariffs on $300B of Chinese goods, followed by several days of market drops, followed by backpedaling on the timeline but not the substance of the action, does not an economic strategy make.
Trump is out of his depth. He levied this last round of tariffs against the advice of his (albeit somewhat sketchy) economic advisors. The system has to change -- one man with Trump's (euphemism alert) limited understanding of cause-and-effect should not have unilateral power to undertake such ill-considered measures.
538
@D Price Congress was at fault for giving this power away to the president. A new congress without McConnell et al would likely reenstate the power of tariffs back to them,
34
@D Price
"Trump is out of his depth."
This is not about any intellectual ability to govern, whether the issues be economic or otherwise.
This is about insider trading from the best position an investor can have -- the presidency of the USofA.
41
@LynnBob
It's been reported that Trump's portfolio is mostly real estate, and he doesn't invest in the market. Nonetheless, point taken. He's put none of his assets in a blind trust and is a walking, breathing conflict of interest.
It's also possible that if he himself isn't buying/selling/shorting stocks, others in his orbit are. Wilbur Ross made a killing early on in his role as Secretary of Commerce when, if memory serves, the steel and aluminum tariffs went into effect.
33
It's clear the Trump administration's economic policies are driven by an ideologue whose knowledge of international trade is simplistic and irrational. Exiting the pacific trade agreement [which could have placed far more pressure on China], alienating many important trading partners through counterproductive tariffs, and wiping out tax cuts for millions of Americans by increasing the costs of imported goods is wrong headed. The Presidents economic advisors are disconnected from global realities..to our detriment.
121
@Lew Sears Trump has said publicly that he makes decisions from his gut, which he claims knows more than the experts do. We see the results.
2
@Lew Sears, you're assuming that he listens to his advisors, wrongheaded as many of them are. No, he goes to far greater extremes. Credit where due: he is crafty, slippery, possibly marginally smart, but in no way is he wise. And wisdom is what we desperately need right now.
"But tariffs on consumer electronics, video game consoles, certain toys, computer monitors and some footwear and clothing items is being delayed until Dec. 15, giving retailers time to import the rush of products they need for the back-to-school and holiday shopping seasons."
That's all well and good for today's consumers. But what about next year? Just how cost prohibitive will those items be then?
All this delay in the 10% tariff does is delay the inevitable.
This entire strategy continues to hurt the American consumer.
118
@Marge Keller What about next year, you ask? It's all fine and dandy with the GOP as long as the pain happens after election season is over.
23
@John Neumann
Exceptional point Mr. Neumann.
7
@Marge Keller Plump up Chinese industry like a bear preparing to hibernate. Meanwhile grasshopper trump will be out there fiddling in the snow
A better strategy would be to end the tariff tiff with our allies and then form a United coalition to focus on the China unfair trade challenges. Smoot-Hawley already proved the folly of protectionist trade. in the longer term, it's counter productive and self defeating.
99
@Ron
That was called the TPP.
Trump took you out of it, much to the glee of the Chinese.
26
It may also be a good idea to include the countries neighboring China in such an agreement. maybe we could convince the majority of the countries on the Pacific coasts, but not China to join this agreent, and since it spans the Pacific Ocean maybe we could call it the Trans Pacific Partnership, or TPP for short.
Whatever you think the merits of the TPP were, as a tool to get China to increase their IP protections and open up their markets it would have been extremely powerful. And it would have come to the US at no cost. In fact, it would have reduced tariffs on US agricultural goods throughout east Asia, increasing US exports (Watch how Trump might be able to get Japan to do only that and trumpet it as a huge win...something Obama was getting across a spectrum of countries). In return, the US basically gave those countries the opportunity to replace China in manufacturing the stuff China currently does and sells to the US.
It would have strengthened Chinas neighbors, weakened China, increased American strength in the region, increased American exports, all at no cost.
But Trump appears to have a visceral reaction to anything that may be good, so he dumped it and instead taxed the US consumer and businesses in a failed effort to get China to agree to a fraction of the demands TPP would have forced them to.
220
"A better strategy would be to end the tariff tiff with our allies and then form a United coalition to focus on the China unfair trade challenges."
Ron, you've forgotten that Trump & Co declared Canada a threat to national security in order to impose steel and aluminum tariffs and glibly quit the TPP which was designed to counter China. Why would we or any other ally burned by Trump trust him again?
18
Teddy Roosevelt: "Speak softly and carry a big stick."
Donald Trump: "Speak bigly and carry a soft stick."
8
This is NOT for the poor Christmas shoppers - it is for the big retailers whose profits will be harmed by higher prices/ lower sales. If we have US-produced goods say 5-10% higher than China-produced products i would GLADLY pay when i shop.
4
@Tamza Exactly! You can't even find stuff made in America, especially shopping on-line. Maybe that's by design; maybe Amazon favors Chinese products and gets kick-backs. It's even hard to tell in the stores - the (mandatory?) "made in China" 'stamp' is microscopic and really difficult to find, in most cases; especially with food products, I find. It's certainly NOT about what's good for the people; never has been, never will be.
2
The fabulous government and the press is unaware that most items that have had a tariff slapped on them ALREADY have a duty on them. We pay 17% duty when we import our goods from China with an additional 25% now imposed on us. That is 42% friends. I have not seen a single mention in the press or from any politician regarding this fact. How would you feel if you had to pay 42% tax on your goods? We are a small company and just can't summarily raise our prices 25%. Who is hurt? The small business people in this god forsaken country. Mind boggling stupidity.
9
So, I’m going to boycott Christmas. Kind of sick of it anyway. Little or nothing to do with the Baby Jesus in the manger.
I’ll maybe put a few bucks in the kid’s piggy banks. They already have enough junk. This gives me a good opportunity not to contribute to a bigger pile.
Thanks, DJT.
8
He is a stock market manipulator...
8
I am soooo tired of all this winning!!!!
3
“We’re doing this for the Christmas season,” he told reporters around noon. “Just in case some of the tariffs would have an impact on U.S. customers.”
But what about all those billions flowing back into the US Treasury from China because of the tariffs? Don't tell me that was "fake news"?
3
Trump is losing the consistency he needs on China tariffs. He hasn't gained anything by throwing a carrot to these boys and given them impetus that they can keep dropping salvo's on the yuan/dollar exchange rate . We will see as equal back and forth b/c global events he can't tweet control. Time to re-load and re-adjust to some puzzling algorithm action.
https://worldabcnews.com/u-s-delays-10-chinese-tariff-on-toys-electronics-games-and-clothes/
cynically enterprising of them. Still, I'm sure if The Base" couldn't by toy assault rifles for the kiddies, they'd be greatly unhappy, so it's a politically astute move.
Someone explained "holiday gift shopping" to Trump.
3
Nothing shows a lack of principle as much as this move does. If Trump honestly felt that tariffs on China were necessary, he would speak to the American people about why they were necessary, about the economic consequences we might expect, why they would be worth it in the long run...
But of course the President is not principled. He started bandying about the word "tariffs" to look strong, assured the American people there would be no consequences (except for money pouring in from China)... and now he's limiting the tariffs so that consumers feel no pain. A coward is what he is. A fabulist coward.
7
Another BIG BEAUTIFUL campaign promise for the Trump dump.
Big beautiful tarriffs.
Big beautiful Mexico paid wall.
Big beautiful healthcare.
Big beautiful bold immigration plan.
Big beautiful tax cut.
2
Perhaps a member of Trump’s evangelical base will point out that Christmas is actually a holy day to celebrate the birth of Jesus Christ and has nothing to do with shopping for presents.
5
Are we tired of winning yet?
I guess Trump “saw the handwriting on the “Chinese Wall..”
His economic advisers probably told him that if he doesn’t alter his course on the Chinese tariffs, he could forget about the Market ... which has already list Billions in value ...and we would be heading for a Great Recession...
Make America Great Again !”
...Make America “Rich” again !
“Just in case some of the tariffs would have an impact on U.S. customers.”
Yet again this delusional fool skirts the issue that it's U.S. consumers who are paying for *all* of his tariffs.
2
Apparently trumps friends, gop - aka: trumplicans - have made their money, now the next market trump-dump will be right before the holidays. Ok. We’re getting the pattern now - so pathetic
3
Like any other big business deal its on and off until final.
Look for Chinese collusion with the Democrats or Socialist in 2020 because they don't like being stood up to.
The Demz and Socialists are ok with jobs going away... after all it creates more people dependent on government to live.
That they love.
@Joe Paper, "The Demz and Socialists are ok with jobs going away"?
Huh. That's interesting. I've never heard anyone say that.
I thought Trump threatened the tariffs in order to bring back low-skilled jobs. Is that incorrect?
1
Just another embarrassing day in America. At least Trump’s profound policy naivety isn’t harming migrant children for a change.
1
Well, well. Good of you to show your hand, mr. trump. I will be forgoing the consumer response to the holidays this year, instead sending my money to immigrant support groups and environmental organizations. We are under attack by this lunatic! Vote with your wallet and vote in 2020!
7
Enough is enough. Stop buying stuff made in China.
4
@JDK, you’ll have to put down your phone and turn off your computer. And stop driving. And buying groceries. And turn off the lights. And throw out you’re clothes. You can’t stop buying stuff from China unless you’re prepared to live in a cave.
I thought that trade wars were easy to win? Only losers take a time out to stock up for Christmas.
6
So, I guess this means trade wars are NOT good, and HARD to win?
Please, oh great oracle of chaos, instruct us all!
(huge laugh emoji here)
5
Bread and circuses.
5
The "Art of the Deal", indeed. His overlords must be exhausted!
1
When Trump threatens tariff’s one day, then takes them off the table the next, or delays imposition, it makes me think that he has as much credibility as the character, “Lucy” in the comic strip “Peanuts.” Lucy promises not to pull the football away. We, the public, are like Charlie Brown. Despite all the promises, we are left flat on our back because Lucy-Trump has once again broken a promise.
The voters need to know Lucy-Trump will never keep his promise.
4
It would be fascinating to take a look at the Trump organization's stock moves alongside the President's on-again, off-again tariff terrorism.
I find it very likely that Trump has become the Stock Manipulator In Chief.
7
Trump is smart to challenge China while it has its hands full with Hong Kong.
1
@AACNY Some nations have governments which are capable of multi-tasking.
I doubt a Trumpet would appreciate the difference.
2
@AACNY
???
Don't you realize Trump just lost the trade war? He blinked - now China has little reason to come to the table.
His ill considered tariffs have only caused economic distress on both sides - and they have achieved nothing so far.
3
@AACNY
That would imply he had some kind of organized plan & was not acting out of Breitbart inspired philosophy.
2
Over the past 2 weeks I've been noticing that certain stores are looking a little "thin". Just came back from Staples and it's not it's usual chock-a-block self.
Has anyone told Trump that basically and economy requires there to be something to sell in order to work? Maybe someone could send him an email.
S
Santa lives in China/just in case you didn't know/his reindeer eating fried rice/and his elves not missing snow/Those stocking stuffers oh so cheap/that parents always buy/do not come from the North Pole/ but instead from near Shanghai/If tariffs make old Santa move/I'm sure he will insist/on writing Trump down with black ink/upon his naughty list!
6
If the Chinese are paying the tariff why the delay? Oops!!! Can’t wait for his explanation.
5
China won, they will do no deals with Trump.
6
525 DAYS
That's how long until this embarrassment leaves office.
The more I see of him, the more confident I become that he will be one and done.
Yeah his base loves him. Yeah, that base is tiny tiny compared to most of the rest.
Remember to vote for anyone but the orange blob.
5
Amateurs at work. I'm sure the Chinese leadership is having a good laugh, along with most of the rest of the world.
5
Wait, Donald Trump said it was the Chinese who were paying these taxes. If they're paying, why should we wait till after Christmas to collect? I'm so confused.
12
Trump's threats get less and less effective if he fold every time. I mean every single time.
4
Yet, DJT will stand in front of a crowd today and claim that China is paying for the tariffs and the crowd will cheer...this is beyond Cognitive Dissonance...anyone buying the snake oil at this point is delusional.
5
I try really hard to avoid conspiracy theories, but between the very convenient apparent suicide of Jeffrey Epstein and the wild Wall Street fluctuations inspired by the tariff-mad tweet machine, it’s getting ever harder to fight them off.
5
This is the closest this guy will come to admitting that this whole Tariff thing has been a waste of time and stress. Americans have already paid dearly ( taxpayer revenue taken from other agency sources to cover his own miscalculation of costs to our farmers). Trying to appear tough and grab more headlines (read: bullying), simply show him to be an expensive, incompetent and embarrasing leader ( and I use the term loosely!)
2
Wait a minute. If Chinese tariffs are good for America and for Americans, why wait on implementing the tax hikes? C'mon, Trump. Don't be a wuss. Raise the tariffs (consumer tax) and MAGA!
4
What forward thinking! The planning for this long term solution must have taken minutes or even an hour to conceive. btw, if you think this is a reason to buy stocks you may not be cut out for investment.
1
As bad as Trump is, it's worse to see his morally bankrupt behavior aided and abetted by the Republicans in Congress. We have to clean house before it's too late for the country.
4
What trump's backtracking really tells me is that he has no clue what he is doing. This is not a single event; he has repeatedly changing his story, or finds it necessary to have WH staff interpret or diminish his tweet nonsense. He needs to go before he does further serious harm to the country, its people and its reputation.
4
Here's a way for the Trumpsters to make a quick buck: pick the winners in advance. Decide secretly which Chinese manufacturers of consumer junk for American markets will get hit with big tariffs and which will not. Then load up with shares of stock in the latter.
Doing sleazy stuff like that used to be illegal. But not in our Brave New Trump World. What a relief.
4
Yet more proof that Donald Trump is a stable genius who evaluates all options, sets a rational course, and sticks by it.
Nah.
2
Mao is credited with describing The United States of America as a "Paper Tiger" According to Wikipedia, the phrase "Paper Tiger" is a literal translation of the Chinese word "zhilaohu which means "something or someone that claims or appears to be powerful and/or threatening, but is actually ineffectual and unable to withstand challenge. " https://en.wikipedia.org/wiki/Paper_tiger
Mao's "ineffectual and unable to withstand challenge" leaders of the US included Harry Truman, Dwight Eisenhower, John Kennedy, Lyndon Johnson and Richard Nixon. Even doubling the time of the Long March and searching all 100 plus dialects of Chinese Mao would still have failed to come up with a phrase capable of describing Donald Trump!
"Loud-Mouthed Schnook", which Henry Hawk once called Foghorn Leghorn would come out as a compliment applied to Donald Trump. Given his track record of SIX Chapter 11 bankruptcy filings, multiple losses in the hundreds of millions , the man has less than"no clue" about International Trade.
And what of our Senate and House political masters? Where is the outrage, where are the elegant and accurate speeches in both chambers demonstrating the utter contempt and disdain with which this loser is viewed?
Tribalism, political correctness and greed, among other considerations continue to make it very easy for Republicans and Democrats to "do nothing" while claiming the opposite.
1
@Bill Baldwin, Jr. I can respect someone that has lost more money than I will make in my lifetime and is still rich beyond my wildest dreams. When I hear someone rant like this about Trump, I sit and think, OK at least he was elected President of the United States, leader of the free world, and that was just in 2016. Lets address the paper tiger business. Which paper tiger has been leader of the world, brought technology and information and prosperity to the world since 1945?
@Mark
Mark, concerning what the United States stood for, accomplished and performed as the free world's leader from the end of WWII until very recently, I couldn't agree with you more.
My point is, Donald Trump by deed, action and word is the kind of evil our country prevented from enslaving Western Europe, Japan, South Korea et al post 1945.
Mao's "Paper Tiger" description was wrong whether standing up to oppression took the form of The Berlin Airlift, the blood spilled to secure South Korea, or eventually forcing the Soviets to
"tear down that wall".
Donald Trump is a total betrayal of American ideals and quiet strength while being kind and generous. He is an abomination.
1
The Chinese should out maneuver trump and raise prices, what will Americans do, buy anyway.
3
I can’t help but wonder if this on-again off-again trade war is nothing but an elaborate market manipulation scheme.
6
Delayed tariffs because of Christmas? Who’s talking out of both sides of their mouth?
9
For those who still believe in him, Trump has always been a bipolar narcissist, whose "art of the deal" is nothing more than deceit and trickery and constantly being unreliable. His failed businesses and trail of lawsuits with associates and contractors are testament to his "successful" deals. While I do believe our trade deficits do need to be addressed, why would any country choose to negotiate with Trump since he behaves in such bad faith? I don't understand how any business can properly plan for the future with this mercurial president. Trump belongs on a reality TV show where he can change his mind constantly to little consequence--not running our great nation.
4
American soybean and corn farmers get hammered by Trump’s tariffs. But importers of Chinese made toys catch a break.
Yeah, sounds right.
4
I guess the invisible hand just lost its cloak.
1
With the Trump tax plan the middle class is hit upon once again to shoulder the responsibility of the 1%. To make up for the deficit, and expanding national debt, someone has to pay. Surprise, it's the middle class again. The tariffs are designed to backfill the hole Orange Man dug and tossed the economy into, nothing more.
Orange Man, just because the Justice Dept won't prosecute a sitting president doesn't mean they can't come after you in February 2021. Better buy that dacha next door to your buddy Putin now and get the movers lined up.
4
So how is this supposed to work? Trump doesn't want these tariffs now because these particular goods are heavily imported right before Christmas, but he's going to enact the tariffs after the Christmas season when imports on these same goods drops significantly, and this is supposed to put pressure on the Chinese because....reasons????
6
Trump threatens and he then backs down. The reason? He's being paid off. Its the story of his life. Your money is his money. He's just not gotten around to taking it from you yet. But he will. One way or another in one form or another, he'll take your money.
3
Sounds like a guy saying "I'll start my diet after Christmas." Just the kind of adversary China wants in a long grinding trade war.
2
Sounds like there are some cracks (the size of a casino) in the strategy of the stable business genius.
3
Trump's LIE about China paying the tariffs was not holding up with his Base...
1
Looks like Trump just exposed a soft spot. Now Xi can order a 50% tax on exports of these very same products to the US, effective until Jan 2.
3
News reports say that Chinese troops are amassing at the Hong Kong border. The US/Chinese Christmas tariff deal may be off the table if China invades Hong Kong and kills civilians.
1
So 45 finally admits that Americans, not the Chinese pay the tariffs.
Clothes and shoes, hum, including Ivanka's brands? Or are those companies now bankrupt, like 45's morals?
8
What news source says that Trump admits that Americans are paying the tariffs? Or is it secret information like the information that Congressman Schiff says he has, but won’t reveal, that proves Trump was in collusion with the Russians?
@4Katydid. I think cheaply-made, high-end were always excluded; same for reed ties and m.a.g.a. hats.
1
@Richard Winchester;
It was inferred because of Trump's admission that raising tariffs in Sept would affect Americans' back to school/holiday shopping. Or perhaps you were just pretending to be a Trump supporter and that was sarcasm? And you threw Schiff in there just to confuse us? Oh, you clever Trumpsters!
1
President Xi should just smile into the camera and declare, "No more products shipped to the US until January 1st. Christmas is hereby canceled until further notice".
I would pay good money to watch the Trump supporters line up in front of their local WalMart on Black Friday to fight over products and find empty shelves.
13
" . . . the products being excluded from the tariffs included Bibles and other religious literature."
So this administration is afraid of God and/or the consequences of messing with the guy upstairs?
Sure sounds like material for "The Onion".
5
Tacit confirmation that the tariffs are hurting consumers contrary to Trump's assertions.
Congress needs to rescind the authority to impose tariffs from the President. Trump has proved that he is incapable of the good judgment that justifies the delegation of authority.
11
The damage has been done to the economy nationally and internationally, Trump tries to salvage what is left " Aftermath " of his cult making leading to the election 2020.
8
Imagine the money you could make, and the friends you could influence, if you could control the stock market with a tweet.
26
@Chickpea I'm starting to think the same thing. This has nothing to do with making better trade deals. It has to do with making the President and his friends richer by manipulating the stock market. And he gets away with it.
5
@Chickpea
Don't think he and his friends are not doing just that.
1
Just wait to see what happens to the economy (that Obama built after) after the election - it will tank. It’s being held afloat by Wall Street.
4
@Barbara ‘What economy’? Only the 1-5%s are benefitting. The rest are in a bad place.
3
Concerned this is going to kill the housing market. Cost to build anything with steel or drywall is already way more expensive... affecting both new construction and renovation work. More broad based tariffs are going to act as a tax on any of these items.
And just wait until oil starts to climb. This is a perfect storm in the making, circa 1979.
7
@Citizen
I agree with you re the housing market, but oil prices are low and will remain low for the foreseeable future. There's an oversupply.
3
@Citizen You may not have noticed, but the American workers' buying power is what is killing the housing market - not tariffs. Almost all housing being built is for the upper class, barely any new housing starts are for the working and middle class. Maybe if the steel and drywall was made here workers could afford a new home. Just a thought.
2
@D Until the Saudis decide they have punished Venezuela enough.
trump says he leaves the 'vetting' of his appointment prospects to the media!
Apparently, he also leaves the 'vetting' of some of his 'economic' or trade-policy 'notions' to the business media and the 'chambers' of commerce.
Unfortunately, in neither case does he always 'take heed' of reports of his 'related' stupidities.
7
Looks like donnie boy doesn't want to be "The Grinch Who Stole Christmas". Too late for the farmers.
10
@CA John True, but you forget the multibillion dollar taxpayer-funded bailout to keep farmers from revolting against his Orangeness.
1
@Martin, I stand corrected. Too late for the small farm farmers.
How a real leader thinks and acts: President Dwight D Eisenhower, said the following; "As we peer into society's future, we -- you and I, and our government -- must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow."
This quote comes from the famous speech President Eisenhower voiced about The Military Industrial Complex in 1961. For the full text please use the following weblink:
https://avalon.law.yale.edu/20th_century/eisenhower001.asp
11
Lol, the mad general strikes again.
5
"China is a currency manipulator," says who??
Another Manipulator!!
The pot calling the kettle black!!
9
Trump is clearly afraid of how voters react to his latest acts of economic stupidity. Raising prices for Christmas shoppers will not win the GOP any votes, and staying in power is the only thing that they really care about.
4
@Grover19, "Raising prices for Christmas shoppers will not win the GOP any votes"? Sure it would. They'd just blame it on Hillary Clinton and the so-called socialist Democrats.
How lame is this?! And what a coward DT is--no principles or values whatsoever. It's all about "stirring the pot" for his own profit.
8
What a hypocrite is Trump. After his unhinged and irresponsible call to raise tariffs unilaterally (on China, but payable by us), a convenient delay so not to upset his very 'base'.
6
Trump=Chaos
9
Trump is playing with us because he can. I cannot believe it......."so do your Christmas shopping early then I will set the tariffs. I am so nice, aren't I? So considerate."
Why Trump has so much absolute authority is not what the founders intended!!! Trump is so misguided he needs strict oversight to do anything above a 2nd grade level of "thought."
Trump thinks he is king, or God. But, he is a fool and an idiot instead. We know better.
8
@richard conner, how odd that he would delay tariffs that would -- supposedly -- bring back jobs to unemployed people.
Frankly, I'd prefer a better job over a big screen tv bought on credit.
The Art of Fake Threats and Market Manipulation....a new Presidential paperpack by Donald Trump.
Get your worthless copy today !
And don't forget to vote out this carnival barker in 2020.
20
oh 2020 POTUS election, thou cannot arrive soon enough !!!
6
Trump blinked.
9
mr. flip flop, who do you think you are?
5
Mr. Trump is finally realizing what a stupid idea his tariffs are. It's about time!
4
Donald Trump plays them all for his presidential candidacy in 2020 and kneels in front of Xi Jinping, delaying tariffs on Chinese profucts, we will see if Xi Jinping believes and bets on Trump for another four more years, as leader and president of the United States .🇱🇷🇨🇳
1
Sickening incompetence.
7
Typical Trump. Do something stupid, brag about it, sound like a tough guy. Then, reality hits, and he folds like a wet newspaper.
Not only the Chinese, but the rest of the world has seen this moview many times before.God help this country if he actually has to act like a real president, not just a reality tv version of one.
6
In the meantime, boycott products made in China.
The Walton family gets $100 million richer every single day
https://www.marketwatch.com/story/the-walton-family-gets-100-million-richer-every-single-day-2019-08-12
4
I don't know much about the stock market but in reading the comments Trump is either a master manipulator or a complete moron. To which I say BOTH!!
6
Trump and his sycophants are so far out of their league when it comes to China and foreign trade, it's pathetic. Everyone -- including the media and the business community -- should just ignore his silly "grand pronouncements" and "decrees" until he gets booted from office. He's just not worth the time of day. Why would anyone listen to this clown?
4
If the Chinese follow through their retaliatory tariff, this will exert influence in de-selecting Trump in 2020. How ironic Russian interfered in 2016 and Chinese interfere in 2020.
In essence Russians are supporting Republicans and Democrats are supported by Chinese ....how interesting.
"it is easier to imagine an end to the world than an end to capitalism."
1
It's the unreliability, the random pot shots and the lies that must be worrying the Business Community. No one trade tariff is responsible for this. No one in business or service can live with instability. Not knowing whether a tweet or a rally response will cause a ripple in the markets is the threat. And then a revision to try to reduce the instability that he caused is yet more frustration.
3
Trump is telling us that our Christmas will be less merry if his tariffs go into effect now by raising the cost of Chinese made consumer goods by the amount of the tax. Should we thank him for the delay that will make our Christmas better or condemn him for putting these damaging taxes into effect at a later date?
3
Until Trump enacted tariff on steel I was payiing $79.99 to $119.00 for stainless steel shelving. Recently, I was planning on buying the same shelving and the price listed is $180.99. Consumers are also voters and will remember this when voting in 2020 tales place.
12
Having a need to buy new laundry appliances recently, we certainly noticed the price increases. Even for appliances made outside China, manufacturers have used the rationale of increased costs for such components as steel to hike prices substantially.
6
And Beijing would just sit back and do nothing?
Look at how the market reacted this morning, up 400 points when it was announced that Washington would remove a whole slew of products from the 10% new duty list, due to "health, safety, national security, and other factors". Also deferred for 90 days is the 10% duty on hot consumer items, so as not to affect Christmas shopping.
To end this silliness, and to let Americans determine for themselves how important MIC (Made in China) is to them, Beijing could try one or both:
(1) 90 day moratorium on all shipments to America, starting September 15th; and/or
(2) Impose for a period of 90 days, a 25% export duty on all products removed from the American 10% list; if that does not terminate the "trade war", increase the export duty to 50%, etc.
Termination of the trade war returns the world to normalcy and gives back prosperity to the 7.5 billion folks.
And China has Soros too.
1
I figure since trade wars are easy to win, we should just go ahead and get to victory by Halloween which would give us plenty of time to stock the stores by Christmas.
Why would Trump retreat and act so weak?
11
As I now understand it, there would be no tariffs when demand is high and once demand subsides, tariffs would go into effect.
This is typical Mr. Trump, buy high sell low.
7
Who blinked first in this poker game of tariffs? One guesses Trump. Did Trump just lose the round, or did China win the game?
8
Tariffs now, tariffs later - will not have much of an effect on me. Very few people I know "holiday shop" - we count our blessings that we have good jobs but fear losing them at any time. My adult Millennial children prefer experiences to "things" - so its gift certificates to dinner or other activities/events - these cannot be Made in China, but they can help the local business owner~
8
In other words we will threaten you but then open up windows of purchasing so neither feels much pain. Expect more tough talk in February or so then capitulation in the summer leading up to elections. This is thoroughly enjoyable like watching a child play with fire for the first time!
10
Haven't we been told repeatedly that US citizens are not paying the tariffs and that China is paying them and enduring all the pain? Now suddenly tariffs are suspended to keep from hurting US citizens. Only one of these conditions can hold. Which one is he lying about this time? Or, as a master of the art, is he able to simultaneously lie about both? It gets really Zen if you think about it.
18
“Just in case some of the tariffs would have an impact on U.S. customers.”
Obviously Trump still doesn't understand how tariffs really work.
17
China is desperate for a deal, China is hurting badly said Trump. But he just blinked and Xi can now wait him out.
10
@Will Baloney. Its Trump who is getting desperate. Election season is right around the corner and China is just starting to fight back. Trump loses the economy, he loses the election and off to prison he goes. No one knows this better than Trump.
3
The great negotiator Trump? My prediction is that the Chinese will wait out 2020 or strike a better deal than you ever imagined, which he we then try to spin.
The big question is how much longer you'll put up this administration!
20
The main problem with "get tough" negotiation strategy is, when you compromise, it looks like weakness.
15
Trump blinked. He'll blink as many times as he needs to get reelected.
15
@Dan. And his flock will see every blink as a benediction.
2
While he was on the campaign trail, Trump took great pride in telling us that, as a wily negotiator, he never wanted to inform us of what his next moves were going to be. I've now figured that out.
Its because he has no clue as to what his next move is going to be either.
35
Hey China!!! If you're listening. Have you considered a "hoax-like" Facebook and Twitter propaganda effort in favor of the Democratic nominee in next year's presidential election? Just sayin' . . . .
16
@SR
Why? Thanks to Trump, they have more power worlwide, and the U.S. has lost the global leadership. Like a coward pet, he barks a lot but shies away from conflict. 4 more years of Trump can only be good news for China.
He is delaying the tariffs because he didn't really think it through when he decided to try to bluff the Chinese. They (and almost everyone else) know that he is a cowardly bully who always backs down when challenged.
41
Seems like a Putin-esque plot to divide the US
6
"Just in case some of the tariffs would have an impact on U.S. consumers."
Can this man and his trade representatives possibly be any dumber? Probably, but still not as dumb as his base.
And, farmers? How's it going so far with your chosen president? Still feeling patriotic or just dumb?
33
Who is the White house? When policy is announced by Trump he takes his bull horn to the White House Driveway, broadcasts on his TV channel, and tweets like a crow. When he changes his mind, usually sooner rather than later, “his people” announce ‘they’ renege on the policy and call themselves the “White House”, but infrequently use their bosses name. Trump monitors their performance. And so go the newest of the new Chinese sanctions. And with no plausible explanations of having announced a wonky policy to begin with, the news networks take to trying to analyze the policy of the hour. It is no wonder that even the most involved of us feel trampled over and are “Trumped Out”. Policy by “tweet and error” is for the birds!
9
Wait…
I thought tariffs didn't affect the price of consumer goods?
That they fill the US coffers and make the country money?
That they are good!
Now, which idiot asked me to believe that nonsense?
And thought I was dumb enough to believe it.
The market manipulator in chief.
Whose family and friends are probably tipped off while you and I get ripped off.
Don't ever forget this is a man who started, promoted, profited from his own phony University!
A made up, criminal, fraudulent University.
Designed to deceive people.
Steal their money.
That he was stupid and vain enough to name after himself.
Phony Trump University.
Can you imagine!!
39
@Paul King in
So how did he escape jail?
If you hold up a bank but give back the money when caught I guess you go free.
gotta get those chinese made christmas gifts.
12
@Wendy M that's what is REALLY important. Piles of plastic junk destined for the oceans.
1
Trump reminds me of the cowardly lion in the Wizard of Oz. All bluster and a phony
13
This economic policy by tweet is really helping insiders of the dump administration profit on the control of stock market fluctuations. These criminals clearly have no scruples whatsoever! Can't wait for the next round of welfare billions that taxpayers are going to have to pay out to big, foreign-controlled agribusinesses for the losses they are incurring due to dump's tariffs. Good grief, Americans are a gaggle of suckers.
13
"giving retailers time to stockpile the products they need for the back-to-school and holiday shopping seasons"??. What kind of tariff is this? This administration is going from the merely inept to the ludicrous. Trump is a bully with no muscle.
22
Ah yes there are elections coming up so the Emperor throws moldy bread to the swine, er voters.
16
Thanks to the GOP cowards in the Senate, Trump gets to use the US economy as his play toy. What wretched cowards all those smooth-talking men are.
20
flip flop flip flop.
6
He is the least decisive, capricious, and king of the flip flop. He must be doing this for nefarious reasons. Even a serial bankruptee doesn’t change his mind this much. To quote former SECSTATE “moron”.
7
China if you're listening.... Isn't it time you utterly crushed this family of grifters and con-men?
5
Too much analysis. Trump just likes to see his tweets move markets. Oh, how powerful he is! He knows his claim that "...trade wars are good and easy to win..." is a lie. If he doesn't he is just another mouthy moron. Again, he's just playing with market. You think he really cares about Christmas.
8
These corrupt clowns haven't got a clue what they are doing. You can be sure that we are headed for some very rough times ahead and with leaders like this it's going to be very ugly and we'll be in a deep hole for many, many years.
8
That is a clear admission that the tariff is a tax on the US consumer.
16
@Areader
So what if it is? Would you prefer that Trump back down and not challenge China? Do you believe that China would not retaliate to whatever measure the US takes? What, specifically, are you suggesting?
2
@AACNY
So what if it is?
Areader was just pointing out that Trump has been repeatedly lying to the American public that the tariffs are not a tax on US consumers
But, why should the average American pay higher prices and see their retirement accounts upended so the 1 percent can make billions in China?
7
@Chrisinauburn
You are fixated on Trump's words while the rest of us are fixated on making sure China doesn't steal our intellectual property. Can you not see the problem here?
Why should Americans pay more for Chinese goods? In the short term to demonstrate that Americans are serious about challenging China. Unfortunately, too many Americans are quick to demand that we stop these actions against the Chinese. This plays exactly into their hands.
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This "holiday shopping" justification is insane. Trump is telling Americans to stock up on Chinese goods for the next four months before a new price increase takes effect. President Xi Jinping and his economic advisors must be roaring with laughter as they anticipate a fourth quarter boost in China's exports to the US.
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China is currently massing troops to threaten HK's budding democracy movement. Trump's response, to reward them with bumps for Chinese stock prices and exports. He may wrap himself in the flag but he is no freedom fighter, except for polluting industries.
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And so, Hillary was just as bad if not worse in 2016 as a choice for the presidency. By a show of hands, how many citizens of the US still feel that way?
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@bea durand
I voted for Hillary - do I still need to raise my hand?
@bea durand
On the contrary, I am so glad that it's Trump trying to get our economy moving. I shudder to think what another big government democrat would do to our economy.
@AACNY yes, raising our debt to the highest level this country has ever experienced is the way to go. I guess fiscal responsibility is no longer important to conservatives. Trump was chosen in part because he was an outsider, a "smart" businessman. His recent decisions on tariffs is threatening the economic stability of the US and international markets. We are not alone on an island in this even if Trump says we are. This smart business man was responsible for how many bankruptcies? Hard to keep track. Believe me he is not above doing the same to our nation, then blame someone else, and walk away unscathed with currency to spare in his family business coffers. Be careful of what you ask for.
Did he get scared that inflation already has pushed up from 2 to 3% per year? With those new tariffs we would be lucky to stay below 4% by X-mas. Then it's choose your poison time and the Fed either tighten or cause a panic by not tightening.
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I wonder if Trump's diehard army of supporters will realize that Trump just admitted that it is they and not China who are paying the tariffs?
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@Canadian Roy
Let me tell you a secret. Trump's supporters don't see China's response as an indication that Trump's actions are wrong. If anything, they indicate that Trump's strategy is working.
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The guy hasn't got a clue...about anything!
I thought these tariffs only hurt China, and we weren't paying them! If that is the case, why are we "giving retailers time to stockpile the products they need for the back-to-school and holiday shopping seasons." ...ah, it must be going to hurt US businesses. Just like anyone with an ounce of intelligence already knew.
Totally amazed how he conned all the stupid people into voting for him. I guess he has one skill!
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So Toxic Trump blinked.
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Hair by Donald, policy by Impulse.
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Big Business says jump, Trump jumps.
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t-rump and his tariff policy is akin to those floppy inflatable balloon men in front of used car dealerships. Air inflates flip, air deflates flop all over the place with no spine. This is all about the 2020 election. If Xmas sales are a bust then consumers have to pay more for goods they will take it out on him at the voting booth. If t-rump were a true burly he-man, he would stick to his word and full steam ahead with all his beautiful easy to win tariffs. He would set a date and stick to it. But sad, instead he and his tariffs flip and flop in the wind. t-rump the hot air bully trying to look tough. Fake tariffs and Fake t-rump!
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The China/US trade war is a smoke screen for trump.
On PURPOSE, trump has punctured the American Economy's heart and the heart is gushing the federal government's financial blood that we pay as taxes.
trump has manipulated trade hurting American business and farmers, and we are funding that result with our tax payer bailouts - only $28-billion, so far.
trump has manipulated immigration: "Approximately 16,233 aliens in USMS custody required housing in state, local, and private facilities, which cost $1,458,372.72/day." Tent cities - aka "Guantanamo USA" are private businesses, cost $719/day and are funded with our tax payer dollars.
All of this is scheduled to explode on the next president's watch, in January 2021.
If it's a Democrat, it will swamp a Democratic president much like Obama's having picking up the national economy after the 2008 sub-prime melt-down that everyone knew and complained about for years.
If trump is reelected, it will give trump the political 'capital' to reduce taxes on the rich, reduce public services on the needy while increase military budgets and banish more government agencies to parts hither and yon or Kansas City.
This man must be stopped.
This is not a drill.
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@LivingWithInterest: Putin's plan to pay back the US for breaking up the USSR is right on track.
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If America is a stock market, Trump is buying high, selling low
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What kind of “hit em, where hurts” war is this? I guess Hannity wanted some toys for Christmas.
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Bah Humbug......the Chinese don't do Christmas...why wouldn't we drive the 'holiday business bump' to all of those companies who benefited from the TRUMP tax breaks, re-invested and have moved their production back to the good 'ol USA....You know...both of them...
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GOP; "Money; Power;Hate". Rinse; Repeat
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How much is the Mango Mussolini making with this market manipulation?
"The Grifters" should be the official film of this "administration."
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OK Great. Quick, let me go buy back those shares Donald told me to sell short the other day. Best crooked president ever :-(.
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I request a Fed insider trading investigation immediately.
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LVS, Las Vegas Sands Corp, controlled by Sheldon Adelson is doing very well today.
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