Well, that's nice. I guess we'll have to see how devoted Trump voters are when they lose their jobs and homes due to his policies.
4
I am hoping that this brinksmanship with China is based on some long term strategy, and we are seeing what is the beginning of a well planned set of actions (i.e., beginning with punitive tariffs). With an end-game envisioned, with options explored, a sensitivity analysis done (if we do x, they will do y, then we could do a, b, or c; then they could . . . ).
I am hoping that our own people are well aware that China now has an emperor, and that doing things that will make him lose face, will lead them to escalate error, and not work toward a compromise (which they must; they really need to stop stealing our technology, and dumping shoddy goods, and let in American businesses in all sectors so we can be truly interdependent).
I guess a guy can hope.
Being "deeply concerned" is the new code phrase for "I'm not going to do jack squat about this, but I want some moral cover in case things go south."
4
Trump did such a great hob negotiating a health care policy that covers everyone and costs less, a tax cut that doesn't balloon the deficit, denuclearization of North Korea, and an immigration compromise, China ought to be easy. After all, South Korea, which is dependent on the US military for survival, apparently agreed to Mr. Trump's trade demands.
1
Eventually, if reason ever reigns, there will be no problem of distortions in trade balances between nations. When there is an internationoal trading currrency, based on a basket of major trading nation currencies, national currencies ,including the US dollar and the Chinese yuan,
will rise or fall against the international unit, depending on their trade balance. Countries with a surplus of imports vs. exports will see their currencies drop in exchange value, making their imports more expensive and their exports less expensive until trade comes into balance. The reverse would happen where exports significantly outwieghed imports.
At some point this will happen, and the US dollar will no longer be the interntional unit of exhange, collected by others to use in trade between themselves. That is what supports our current import imbalance.
1
"Talks With Beijing Have ‘Broken Down,’ Mnuchin Says"
"Concern is growing among businesses and lawmakers in both parties as Steven Mnuchin, the U.S. Treasury secretary, said there was no clear path to resolve the dispute."
Surely a competent journalist would have mentioned — in the headline or in the teaser — which talks, or which dispute, this is about.
3
Since there is no clear voice in the talks(?) with China. It is not surprising that the negotiations would stall or break down.
No one seems to know what Trump wants, neither the Chinese or his own people.
The only thing we can look forward to in this trade war is further escalation.
4
It is clear that this administration may have a major, significant miscalculation in its trade war with China.
The administration believes that because China exports significantly more goods to the US than the US exports to China, that at some point, the US has many more Chinese products which it can impose tariffs on than the Chinese can impose on US products. That may be true, except China is one of the top two holders of US Treasuries.
With the GOP tax plan adding roughly $1B a year to our deficits which need to finance, China as a first step can just boycott several Treasury auctions which should cause rates to modestly rise. Should the administration either not get the point or be oblivious to what China is doing, the next step would be for China to start selling some or all of the $1.1 TRILLION of US Treasuries that they own. In which case the Administration would likely find out that they have brought a knife to a gun fight.
6
The US has, one the whole, a trade surplus with Canada. Still the two Countries are in a trade war.
If Trump manages to scuttle trade negotiations with Canada....It doesn’t look promising.
Donald the Menace!
6
I think it's great. And it's the only hope we have to win in the mid-terms and then to knock Trump out of the White House in 2020. Let those states that elected him suffer--had they been paying attention they would have known he was a liar and cheat and they shouldn't have voted for him. They get what the deserve.
5
Poor Steve Mnuchin, a trade war with China spinning out of control and being faced with hostile questions from Congress- this is definitely not what he (and wife Louise Linton) signed up for. What happened to those carefree days in 2017 of taxpayer paid jaunts to watch the eclipse, or receiving love from billionaires and corporations for the Trump tax giveaway? So unfair! But don’t worry Trump will be back soon to reveal his “master plan” and all will be well. LOL.
4
The trade war is an obscenity that Ryan, that wimpy weak ignoramus, could have stopped by introducing a Congressional bill against it. But like his feeble Congressional Republicans, he seems ready to destroy America’s economy and the Wisconsin farmers he represents with it.
7
The path to a resolution is in Mueller's hands.
3
And the stock market goes up.
How could this be...trade wars are easy to win. Trump said so.
5
Perhaps a more qualified person might have been able to do this job rather than a hollywood banker.
5
"...no clear path..." Yup. What say, Mr. President? The ball is in your court.
3
Donald Trump created these "tensions." Like most Americans, i'm waiting for him to realize the stupidity of his ways, back down from this tariff fiasco, and even call it a "win" if he needs to save his ego the sad reality of his ways.
2
Ain't gonna happen.
3
More Proof that a Hedge Fund Guy cannot run a real organization and manages real goods. Guess Mnuchin calls-up his old roommate Eddie Lampert, who is slowly sinking Sears for direction. Tariffs are good but not on anything that Sears ships in from China.
4
The Chinese are correct in that this administration "insisted" on a trade war. Trump had dumbed down the trade issues with China to a matter of sticking it to those sinister of foreigners. The Trump supporters are less invested in actual solutions than a war for its own sale.
3
Our President has said that winning trade wars is easy. This is what "easy" looks like. His strategy is simple — like his mind. Make China suffer so much that a capitulate and give us everything he wants.
1
Hon. Mnuchin ..... tell me please, what is so honorable about him or anyone else associated with this administration ?
3
From the comments, I do not see even a tiny bit of support for Trump.
I am as anti Trump as anybody out there, but I am also able to recognize that the Chinese have been cheating and stealing our technology for many years now, as documented by multiple administrations.
Trump, as usual is going about it the wrong way, but for too long now no administration has really tried to tackle this problem.
China is trying really hard to become the top nation on the world, they are doing this with the help of all the technology they have stolen from us.
I give credit to the people that at least are trying to do something about the problem.
As economic measures show, nothing really serious has happened so far with these skirmishes.
4
Mr. Fighter
I know, right? How great is that, no support at all for Trump's trade war and campaign of alienation directed at every ally and trading partner we have ever had?
We are not in the habit of giving our Presidents a lot of credit for trying real hard. Especially when they already succeeded at making every aspect of American life worse.
I don't know what "economic measures" you are referring to, but there are plenty of solid indications existing and increasing of damage done by Trump's, shall we say...policies?
The biggest issue with China "stealing" our technology? American companies are so greedy, so eager to get into the Chinese market that they readily agree to those terms, and then run home and whine to their Republican representatives.
A little discipline from the American business sector would go a long way toward fixing the problem without relying on the creep in the White House.
5
GoPee-tRump’s view of ideal trading partnerships is where he can slap, scold and insult the countries that buy from us and then encourage them to buy MORE from us. Not necessarily a winning formula as trade is voluntary. Our former trade partners may not want to do us any favors by feeding the USA more of economic growth or profits the economy hopes to count on in the future and would now rather turn to our competitors instead...!
I guess the Chinese aren’t that good at accepting insult. Also they are better at real numbers than Donald Trump. Better to stick with threatening smaller weaker countries that have to thank you when you threaten and lie to them. That’s just Bullying 101.
12
How can rational educated people work for the loose cannon that is the current POTUS? Do they enjoy the wild ride or is the pay that good?
14
The Chinese, European, and neighboring nation's tariffs are an attempt to offset the cost of the December Tax cuts. All these trade wars are a diversion from that fact. The Republicans are levying a consumer tax on most Americans to pay the shortfall created by the Republican giveaway to the wealthy individuals and Corporations that financed their successful takeover of our nation's government, which will now be a super-monopoly Republican government by the rich and for the rich. The trade wars are a diversion. The American consumers will bear the burden of paying ultimately.
9
You're right that American consumers will bear the burden, but I don't think it's a Republican strategy. It's just another expression of Trump's profound ignorance and pathological need to be different from his predecessors.
6
Mnuchin says that "he was going to help work with companies to get exemptions from tariffs and that he would try to persuade businesses such as Harley-Davidson not to move manufacturing abroad." It's too bad Republicans like Mnuchen didn't take this tact with trade 20 years ago. The US, under Republican leadership had a policy that allowed American multinational corporations to manufacture products overseas and then bring them back to America for sale. This policy was disingenuous considering that multinational corporations could outsource manufacturing to generate great profits for themselves because of cheap labor and sell these products to middle class workers whose jobs were eradicated. Mnuchen's solution would allow a continuance of the problem with multinational trade. Instead of giving these companies exemptions, Republicans gave them clear pathways to economically decimate the middle class worker and put the profits in the corporate treasuries and shareholders' pockets.
This policy was the cause of income inequality in this country which still pervades US trade policies today.
13
There is a solution but it would take a person of great courage to do it:
Trump needs to go on national TV and admit he is wrong to do this trade war.
But alas, this won't happen. Trump is not a person with courage.
11
OK, so they've broken down with China, Mexico, Canada, the former TPP partners, the entire EU.
That must be the plan, no?
He seems determined to destroy Obama's economic recovery legacy from the 08 disaster.
10
It's the power of racism.
1
With his trade war, Trump is jeopardizing the Obama economic expansion.
12
It appears Trump's strategy is to always double down on a threat. He doesn't know or understand the numbers of a trade war, especially when an extended time factor is added in.
Trump possibly knows this year's numbers and previous years. However, his understanding of forward projections seems to not include the here and now, but only the past.
Trump feels other countries will always be submissive to the USA demands, but I imagine he is shortly to find the here and now isn't the past.
7
As Gomer Pyle would say, Surprise, Surprise, Surprise! BTW Mnuchin and Ross, I can't imagine anyone save the now dearly departed Pruitt who is as corrupt as the day is long.
16
By now we should all know there is no plan. Just as there is no plan to replace the Affordable Care Act - which Trump is stomping on until it disappears altogether - and NO PLAN to keep track of children separated from their parents at the border, there is no plan for tariffs, trade wars,etc. The plan is
for America to win at all costs and it's winner take all.
Allowing Trump to proceed with no checks and balances is like permitting the family drunk with the addled brain to run every aspect of a huge business. This is what we are doing with our great country, which Trump is degrading by the second.
25
"as Steven Mnuchin, the Treasury secretary, told lawmakers there was no clear path to resolution "
Of course there is a clear path to resolution. Congress needs to pass legislation to limit the president's actions to cripple of economy. It's a garden path. However, the GOP lacks the resolution to do the right thing.
15
Trump is clueless in the area of global financial negotiations and covers it by stating that his indecisiveness and flip-flops are negotiating tactics. He may have gotten away with this in his real estate transactions but in reality he's way over his head and won't turn over the negotiations with China to more competent people. This leaves the US with holding the financial burden on our economy and yes, I am tired of winning.
10
Why the left wants to keep the 500 Billion trade deficit with China, (and all the other nations, EU, etc.) is something they will have to reconcile in the 2018 and 2020 elections.
2
The left does not want to keep the $500 billion trade deficit with China. But the left and others want a strategy that has a chance to reduce it. This strategy does not do that so why should we continue down this path which is just costing us jobs and creating unnecessary inflation. Is that OK with you, Charles in service?
6
Dear Congress,
Maybe soon you will wake up, pull your heads out of the sand and Donald Trump for what he is. An autocrat working for foreign interests that is doing everything in his power to destroy our democratic institutions and economy to draw us into a world war. Am I wrong? You better hope so if you want to end up on the right side of history. Right now, your going down as villains that destroyed the free world.
21
Mnuchin should have said China talks have been sabotaged by the Trump Administration.
Trump imposed $34 B in tariffs on Chinese goods that are mostly intermediate goods in the U.S. _ stupid! China matched the $34 B but put their tariffs mostly on final goods - smarter! Trump lashed back with another list of mostly intermediate goods, which will only cost Americans more, imposing an additional $200 B in tariffs. China indicated it will match that.
No one wins here, but Americans will lose more than Chinese.
Trump and his advisers started this trade war without any realistic plan to advantage the U.S. They must have thought that China, the UE, Canada and Mexico would accept tariffs on their goods and not retaliate. How naive. Those countries have all been matching Trump's tariffs and indicating they will continue to do so.
Trump lies with ease. He needs to come up with a doozy now to claim that he won the trade war when he withdraws his tariffs.
15
As my husband, a naturalized U.S. citizen has often said:
" You get what you vote for"
" Be very careful whom you vote for."
" The majority rules whether we like it or not."
" Th way to ensure change is to vote."
and
" You have no right to complain unless you've voted."
Wise words,indeed,from an immigrant and someone who takes his responsibility to vote in every election very seriously.
14
Technically it is the minority rules. The minority is just very good at playing the game.
7
Let's not call this problem a dispute. Let's call it what it is - deliberate malfeasance by our President and his administrative team, including Treasury Secretary Mnuchin. It wasn't really broke until they broke it.
27
It's a tragic comedy.
Why does anyone expect rational thought from Trump "policy."
Mnuchin knows there is no plan, no cohesive approach to the tariffs. It's all Trump bluster and red meat for his rallies and his. The same base that will be hit, arguably, the hardest by the retaliations. Hence, the tragic comedy.
Sadly, the GOP in congress are fully complicit in this -- all out of fear of appearing getting on the wrong side of their adopted lord, Trump. And I too appreciate the words of the GOP reps and senators questioning, but ACTION is all the really matters.
The Chinese are not nearly as uninformed (ignorant) as Trump; in fact, they know, KNOW, how to play this, and how to play it well, and over time.
The question is how much damage will Trump's ego allow to the USA to suffer, before he makes up some story that has him 'winning' this trade war?
11
Well, there is ONE way that I can think of to get out of this trade war mess, solve the rift between ourselves and our allies, keep dictators in check, and bring our nation together as a whole.
...but that's up to us in November 2018...
14
Can the NYT dispense with the nonsense about the USA being in the midst of a booming economy already? The stock market has been flat for a year. This despite the Trump tax cut for corporations, already figured into stock prices and mostly used for stock buybacks. Meaning without the tax cut stock prices are probably lower than flat. A bear market.
That's without mentioning the mirage of low unemployment figures. Millions simply stopped looking, so they're not factored into the numbers. Millions, nay tens of millions, are in low wage dead end jobs sans benefits. Half the country is one missed paycheck from financial disaster.
Just stop with the nonsense already.
22
Dear Congress:
There is no path. There is no plan. There is only however Donald Trump feels when he wakes up in the morning.
If you want clarity on trade, you will have to either override Mr. Trump or impeach him.
Best regards
32
The con man was conned. The Chinese are in the long game - they have extended their spheres of influence into Africa for raw materials - it isn't that the African countries like the Chinese, it is because the Americas are out to lunch. Of course, the Chinese would retaliate now Mnuchin doesn't have a plan? Why are we surprised.
14
Go back to Hollywood and make inane movies and bring in a real economist, not another third rate Fox News political personality. And bring in a real president too. China should join the EU and boycott and divest from the US.
11
Engaging in a trade war with China might be a good approach to their trade practices, if the current president hadn't also begun trade wars with every other major economy in the world. We've got an eastern front, a western front, a northern front, and a southern front. Obviously Trump never played Risk when he was a kid, or has any knowledge of history.
14
But I thought trade wars were easy to win? Who knew negotiating with China could be difficult? Where are we going to dump all the waste we used to sell to China? smh...
23
China is ripping us off and we will have to endure short term pain to get a better long term deal.
4
How much pain and for how long? Neither you or anyone in Trump's orbit seems to have the answer.
Of course it’s broken down.
The Chinese are tough and in it for the long haul.
Trump is ignorant, weak minded, with no clear policy or agenda beyond himself—and—- feeding a small group of equally ignorant people the lies they want to believe.
Sorry folks you’ve been conned, and if your middle class, working or on a farm in the Midwest or South - the bill for you electing this conman is coming due shortly.
50
if the United States and China fight for trade, North Korea's leverage will rise accordingly. Mr. Kim will be more likely to cash in on these confrontations between the two powers. I'm not saying it is to be blamed ; it is natural as a leader of country which is small enough to struggle to find a way to earn a living using the great powers' self-desire to win the war. what I'd like to point out is if the United States choose to confront against China in the name of fair trade, it will be more difficult to gain support from the Communist party to push North Koreans to abandon nuclear activities, albeit North Koreans don't listen to Chinese as opposed to Americans' prediction since they want to solve it 'subjectively' without any pressure from foreigners.
it is a goal of all of us to induce/persuade the North to be able to disarm honourably with no humiliation. but as the trade war is likely to persist for the long time, trust between the two nations is possible to be wounded, deepening a chasm over solving the denuclearisation process. I hope it does not harm South Korea's lead to champion the reconciliation.
5
I hope you are sharing your views with hometown news in Nebraska. A lot of your neighbors seem to be still wearing their MAGA hats while standing in line at the food banks.
44
“Trade wars are good, and easy to win” - D Trump
18
Trump and the Republicans’ arrogant incompetence constitutes treachery never seen before, much less imagined, by America. Every one of them should be removed from office for handing over the West on a gilded platter to Putin.
21
Peter Navarro, Trump’s trade adviser, predicted back in March that no country would dare retaliate for Trump’s tariffs. How’s that working out Pete?
“Mr. Mnuchin said on Thursday that Mr. Trump would not do anything to jeopardize economic growth. He insisted that he was going to help work with companies to get exemptions from tariffs and that he would try to persuade businesses such as Harley-Davidson, the motorcycle maker, not to move manufacturing abroad to mitigate the pain of retaliatory tariffs.”
So Mnuchin is going to run around playing “whack a mole” at businesses shouting, “If you don’t stop MY tarriff, we may go bankrupt or shed jobs.” Where’s the fairness in selective exemptions? I just watched news about the pain lobstermen will feel from retaliatory Chinese tariffs. Some of these guys might lose their boats. If you lose your job, or your boat, or your farm, or your business, or your house, before a tariff agreement is reached, how will all those “mini destructions and dislocations”, added together, affect the country overall?
32
"Republicans have been claiming that Democrats secretly want the economy to tank despite the widespread pain it would inflict"
Funny, because that is exactly what the repubs did to Obama - sabotaged all efforts at recovery to try to get him out of office. They succeeded in sabotage and the economy limped on for years - mainly hurting their own constituents. Lucky for us Obama ultimately succeeded in building up the economy to the point it is now. Trump is again determined to destroy it again.
22
The trump administration doesn't have conversations just broadsides.
8
Reducing our trade with China is a good idea, we are enriching an enemy. The way Trump is going about it is crude and amateurish. We should simply and quietly begin shifting our business away from China to other countries. In 5 years our business with China should be 50% of its previous high.
The way Trump is going about it is going to hurt US businesses at least as badly as Chinese. There are many countries that would want our business, providing that Trump does not insult their leaders and then claim that direct quotes from an interview he gave are "Fake News."
It is hard to work with a country when it has a schizophrenic leader (People with schizophrenia may seem like they have lost touch with reality. - NIMH)
6
As any good parent or grandparent knows, small children do better when their grownups set clear rules and enforce them with love and patience.
Unfortunately the small child in the oval office is free to run amok. There are no grownups in the White House and the Republican majority seems to think governance by ignorance and prejudice is A-Ok.
The result--if we're lucky--will be a mess that will take years if not decades to clean up once Baby T. is gone.
If we're not lucky? Irreversible damage.
6
I am betting that all the really big guys, the ones who make a lot of noise, will win exemptions from tariffs. The little guys will have to deal with it. That way, China will be able to export much of its raw materials to our big manufacturers without tariffs and our big exporters of soybeans, pork, etc. will benefit from Chinese exemptions. What a farce.
4
Were they actually ever going on? For real? doubtful.
3
trump told the world out loud and Xi personally that he had two goals, deal with NK and “improve” trade with China and again publically told the world and personally told Xi that if he would help on NK trump would make accomadations on trade.
China helped with NK and then trump reneged on his agreement with Xi.
Most of the world outside the US clearly understod that Xi was fooled and Xi lost face in the world and increasingly the world sees trump as someone who lies and can never be trusted.
But for trump and his supporters trump lying is not a negative thing, it is a positive tool for trump to use to take control of the United States like putin took control of Russia and to attain that end they support trump lying and they see trump behaviour, which for most people is negative, as a positive and this is reinfocred because the people trump supporters see as their enemy, “liberals” whatever that term means to them, negatively and to them this is a positive sign.
7
Here's an idea: The person who started the idiotic "trade war" can stop it right now. End of problem.
5
Trade wars are good right Steven? Now what do you and the rest of Trump's clueless sycophants suggest we do?
12
Maybe if the Administration stayed in TPP they'd find that being part of a large, Pacific-focused trading group would have greatly increased their leverage?
Maybe focusing on intellectual property issues and opening the Chinese market to outside companies, instead of somebody yelling about the balance of trade?
Maybe the negotiators being allowed to do what they were sent to do without micro-mismanagement from the Top Guy?
Of course, our leader did save all those jobs at that Chinese company that was selling US technology to North Korea and Iran. That's winning, right? Oh, and didn't Ivanka get a bunch of valuable copyrights around the same time?
16
The Chinese obviously want to negotiate and are willing to move the needle to some extent. The problem the Chinese have which is the same problem all of our trading partners have is while the Trump administration wants a better deal they haven't been able to articulate what they really want.
It appears they are throwing bombs in the hope that our trading partners simply surrender.
What is the goal and is there any mutual benefit to be derived? If there isn't there really isn't anything to negotiate.
8
Is there any reporter at the Times or anywhere that can tell this reader if the Trump administration made ANY attempts to join up with the EU in facing China and its myriad WTO violations?
After all, the EU shares many of our frustrations vis a vis China and has launched its own investigations into various aspects of China's behavior.
If not, it would add credence to the hypothesis that Trump doesn't really have any interest in "fixing" the global trade system (or "unfair" NATO member contributions for that matter) and merely wants to sow chaos for Putin.
5
Sure. There is no need for talks from a Chinese point of view. They can lean back and enjoy the show, since not only Chinese tariffs, but as well those of Canada, Mexico and the EU are showing effect. The pressure is increasing. The positive side effect for the rest of the world is that the "America first" policy facilitates bi- and multilateral deals no-one would have thought possible.
5
When the Federal Reserve chairman, Jerome Powell, speaks everyone should be concerned. The head of the Federal Reserve seldom speaks except at designated times because he or she does not want to move markets.When Mr.Powell says that a trade war could harm the recovery pay very close attention to his words.The administration has already ignored the maxim- no one wins a trade war -if they ignore words from Mr.Powell there will be terrible trouble- a recession!
17
China says: “For the purpose of meeting domestic political needs and suppressing China’s development, the U.S. has fabricated a set of policy arguments that distort the truth about Sino-U.S. economic and trade relations.” which is exactly accurate and correct. I'm no fan of China trade practices and I support a strong push back on China, but it's a pretty sad commentary on where this country has gotten to when the official statements coming out of Beijing are more truthful and accurate than the ones coming out of Washington.
13
Well, he said he was a fighter. I don't remember that he specified whom he was going to fight. I don't remember that his supporters ever really asked.
8
Republicans have been claiming that Democrats secretly want the economy to tank despite the widespread pain it would inflict. I am one of those Democrats and I confess that I want a crash, (preferably before the election, but it looks like Dec-March is the most likely time frame). The reason I want to see a huge crash is that the current policies (tax cut as economy improves, trade wars with no exit strategy, Fed commitment - since Carter - to prevent helpful inflation, support of coal and dead industries, elimination of financial regulations) are either insane or I am. If it doesn't crash I should be on anti-psychotic medication. I saw Ohio governor John Kasich on the news last night and thought he sounded reasonable. Haldol, I guess.
7
Piece of cake! The stable genius will straighten it all out once he's re-elected.
2
It takes some real "Art of the Deal" negotiating skills to make the Chinese look like the good guys in international trade.
17
I see a pattern. Trump has intercepted trade at the border, separated importers of said trade from their money by tarrif taxes and sent the latter to Washington where no one will ever see it again. Because, zero tolerance. He practised this in the campaign by separating his followers from their senses.
8
Republican Jeb Hensarling - “I appreciate the words; I am concerned about the deeds,” he said.
Has Mr. Hensarling been paying attention? At all? Because saying one thing and doing another is the only plan Trump has.
11
Talks have broken down. It doesn't take a genius to know that the world will tell the U.S. to take a hike. If we want to sabotage ourselves, they should let us do it. There's nothing to drive home the point more than seeing that new pickup being reposssesed.
13
Who would have thought a plan would be needed for tariffs? While Congress sits back and allows trump to do whatever he wants, the only ones suffering are the citizens who are subject to all of the damage trumps bluster and bullying are going to affect. Trump loves to see how he can rule the world with his tweets.
9
Do we distinguish between the theft of American intellectual property, and the gift of American intellectual property, willingly given by American corporations in their eagerness to do business in or with China?
14
"Acting erratically"--the quote from the Chinese pretty much describes the general approach of this administration in all areas of endeavor. Though I would call it "acting dishonestly." When will legislators stop tiptoeing around Trump's narcissism?
12
Give this administration one more year to tear things up. The Republicans will impeach him themselves.
7
“The administration needs to explain to Congress where this is all headed,”
Righttttt, stable genius.
Seems to me that SG said “Trade Wars are Easy”.??
Okkkkaaayyyy.
Honestly , see absolutely no coherent plan. Ie knock em off balance and shut up while the pros work on it.
Donnie, we can NOT win 5 plus battles at once,
No longer
1 massively dominate world trade.
2. Are able to disentangle manufacturing and trade, the Chinese buy parts from thailand, ship the part to US manufacturer who assembles, then shipped to Mexico for final assembly export to user in..... ? Wherever.
All these steps are part of long term plans and contracts.
Could see ( past tense) a plan and rationale to call out China, allied with Europe, Canada, South Korea, Mexico.
Meanwhile work on repairs, updates to Nafta, Tarp, European trade.
If Donnie could just shut up and say. “Look I have called you out, lets project a path yo fix the issues, and call out the Chinese master minds. But no, he would not be page 1 twice a day if he did that.
Congress unwilling to take back their delegated powers under the Constitution.
7
"Mr. Mnuchin said on Thursday that Mr. Trump would not do anything to jeopardize economic growth." What a line of poppycock from another grifter in the Trump administration.
33
Good news. Anything that hurts Red State Americans who voted for Trump will hasten the death of today’s totally corrupt Republican Party.
21
It would all be easier to understand if Trump was a Russian spy. But he's not smart enough; the Russians wouldn't have him as an actual spy. He's just a toy, and that's how they use him.
7
Civilized Man, Here's the problem with that: Red State Americans who voted for Trump will never, EVER attribute their misfortune to him. Fox won't let them.
8
"Broken down" = "winning" in the Trump lexicon.
11
Why shouldn't the talks break down? Its what will happen with N.Korea, too. You can't have talks with Trump, because Trump is always and only in his playpen.
12
Who knew a trade war could be so hard to win?
67
Everyone with internet access and functioning synapses.
6
You mean screaming, whining and throwing temper tantrums don't work? Who knew negotiating with China would be so difficult?
19
Why would a Russian agent, tasked with the destruction of the American economy and its isolation from its allies, care a whit about soy bean farmers in Iowa? Clearly, everyone knew Trump was a Russian spy when they elected him. Sorry if the complaints ring hollow.
77
The Trump approach seems to be to create a disaster then claim to have resolved it. The inept, conflict-ridden trio--Mnuchin, Ross, and Trump--is sure to do damage. The only question is, how much?
14
Are we winning yet? So easy. HA!
10
Trump and company are circling the wagons and shooting inward.
30
You know things are bad when Mia Love is criticizing a Republican president. This isn't going to end well. Trying to figure out what Trump wants in a trade war though isn't the answer. He wants a media campaign, not an economic result. He wants to go to rallies and shout he's sticking it to China on trade. The actual financial outcomes are irrelevant. The crowd's reaction is the main objective. Hopefully they'll learn to boo when the consequences start rolling in. Better yet, don't attend the rally at all. We can start making fun of Trump about crowd sizes again.
49
Unfortunately, Trump either speaks or acts without thinking of the consequences... and if this matter is not resolved soon, there might be Dire Consequences to the American and World economies ...
As the Tariffs go into effect, goods will cost more... resulting in an “inflationary spiral” ... less goods sold will mean layoffs ... which in turn will dampen demand ... which will result in the hike of interest rates... which will lead to negative growth and the value of Stocks will sharply decline ..,
In short, we will all become poorer...
But ... “I Don’t Care - Do You ?”...
22
Why do Republicans bother? They nominated and elected a dictator. He's not going to listen to staff. Censuring him means nothing. They need to stop him the hard way or prepare for a hard landing.
58
there is no plan.
the plan is petulance.
the plan is Trump throwing his weight around, expecting his base will cheer and his counterparties fold. either would be yuge.
it is a waste of time asking others about Trump's posturing because they are out of the loop of his loopy thinking.
Trump knows all, he plans all, he does all. the rest merely bring him Cokes and run legal interference.
boy, are we in trouble!
42
Trade wars are easy to win. trump said so.
10
Trump should remember the story about the boy who cried wolf. He has so undermined his own credibility and so damaged the credibility of the country that we will soon find ourselves eaten by a Russian wolf.
21
The Trump administration's incompetence will crash this economy.
36
This is what happens when Government is run by incompetent amateurs with no governing experience. I expect the economy to collapse under the weight of this - as it has done during previous Republican administrations. This time will be much worse than 2007-2008. I am also sure that the Republicans will blame it on Obama, rather than their own incompetence.
54
The President we are stuck with is a blatant liar. That is an accurate conclusion based on his record of lies, innuendos about conspiracies, exaggerations, misrepresentations AND even after his inaccuracies are pointed out, he repeats them. And yet, foreign world leaders, as well as our courts, our political institutions, legal institutions, and social institutions act with deference and respect, as if Trump has any credibility left. It is high time leaders abroad and at home marginalize, isolate and contain him, as well as confront him directly about his lies and his deflections from taking responsibility for his destructive actions; especially now as his trade wars drag the world economies with our own down into his swamp.
62
Yes, the statement that Trump is a blatant liar is a documented fact. Not even Trump denies it. Currently, responsible Americans are in the process of documenting that he is a Russian agent. All current evidence supports that conclusion, most particularly Trump's advocacy for Putin at the expense of the U.S. and its allies. All that remains to be proven is the blackmail and bribery that precipitated his agency. That could come from one of his fellow Russian spies who goes rogue in exchange for protection from the murderous Putin.
10
I feel sorry for the soybean farmers who not only still trust in Trump but are enduring a huge financial sacrifice for him as prices drop, and China finds other suppliers, in the hopes that their loss helps win this trade war.
6
I actually don't feel sorry for them, or any other voter who still supports this president. Steve Mnuchin smugly lies to us all, magnified by FOX bugling this administration's absolute genius. When the house of cards begins to fall, he and his mob boss in the white house just blame China, collect their millions and look forward to their own wealthy future. And the heartland MAGA folk will blame Obama and the Democrats, maybe Eliz Warren, and for sure Nancy Pelosi, because these cult members can't resist the siren song of tribal resentment. Unless those voters wake up and smell the Russians, I do not feel much sympathy, especially when they continue to shriek that people like me are the real enemy.....
11
Why do you feel sorry for them when 90% of them probably voted for Trump? Or, to quote that wise bard, Homer Simpson: "Oh, why do my actions have consequences?"
1
China is too smart, plays things long term and needs little popular consensus to put a punishment on the US and it’s failing president for initiating a trade war and tariffs.
10
I can see a clear path to solving the problem of trade with China (it's real): get rid of Trump, his whole cabinet, and vote the Republicans out of office. Then we can try to repair our friendship with our Democratic allies and present a united front to China about their trade abuses, beginning with removing their WTO designation as a "developing" country.
33
"Talks With Beijing Have ‘Broken Down'"
One could substitute North Korea,NATO or any one of a number of other entities.
Clearly, "negotiating" is not Trump's strong suit.
73
DJT said: "Trade wars are easy to win." This would be funny...it if were not dangerously naive.
11
Something good may very well come from all this. If so, it will be purely accidental.
Trump is the proverbial stopped-clock, which may be right on occasion, but never on purpose and always lacking any forethought.
6
The Chinese, meanwhile, accused the United States of “acting erratically” and said the administration had “blatantly abandoned the consensuses that two sides have reached and insisted on fighting a trade war with China.”
Sounds right.
18
How could international talks between the Trump administration and other countries "break down" when virtually so few on any subject have seriously started in the first place?
14
Trump and his administration have no strategy, no understanding of how to work with foreign countries, and no regard for working Americans. My familiarity is with the damage farmers and farm families, like mine in the Midwest, now confront. Decades have been spent developing foreign markets. And now, these are being destroyed, that work lost. The impact will be felt throughout rural communities, from businesses on Main Street to the envisioned pursuits of entrepreneurs who would like to remain in their home states. Bankruptcies and a continued brain drain from farm states soon will follow. This is what alleged Trump leadership means in places like my home state of Nebraska and far beyond. Shame.
33
Can't be true. Trump says he has the best deals ever.
Or maybe not, we'll see.
But hey, he'll do better with Russia about Crimea than President Obama did. Or maybe not, we'll see.
North Korea is denuclearizing. Or maybe not, we'll see.
Do many of his voters EVER hear that second part?
20
Sure, there's no clear path toward resolving the dispute, because Trump's administration is hellbent on starting a massive trade war with China. China can't do anything to dissuade the destructive impulses of Trump, which is too bad for the world really.
All I can do is hope that most of the suffering caused by this trade war is felt by Trump supporters. They deserve to suffer, of course, but also it's the only way to get them to change their minds. If all goes well, they'll lose their jobs, be unable to afford most goods, and be plunged into misery that they'll realize was brought about by Trump.
No surprise that Mnuchin can't do anything about this either, he's just another corrupt, self-serving Trump appointee, probably a month or two from being forced to resign.
29
"He insisted that he was going to help work with companies to get exemptions from tariffs..."
So, the government, instead of the free market, is going to choose winners and losers. I thought conservatives hated that?
30
This must resemble the trajectories that preceded
the five bankruptcies of the esteemed businessman
in his prior career...no real plan, lots of bluffing, lots of huffing and puffing exhibiting a show of mr. tough guy at the table, but most importantly, not a clue about using relative strengths and
weaknesses to devise an optimal strategy. It would be
interesting to learn how comparable the current clueless
(in public at least) psychodrama resembles prior financial
disasters for which he was responsible.
The main issue we all need to worry about is whether
he will ever realize his hand is not as strong as he makes it out
to be (i.e. what trumpistan voters in November do) and that he will resist a face saving compromise to show
just how tough he can be....in order to gamble irrationally,
based upon his hubris and distorted sense of an ability to
handle tough negotiations, that he can "win" in the end.
How he intends to climb down from the upped ante in
which 34 billion became 200 billion without appearing to
have capitulated will be fascinating to watch. He is presumably
counting upon some agreement in the middle and that China
will be willing to play along sooner than later...public cluelessness of mnuchin is consistent with this "wait and see what they'll come
back with" notion so as to not tip one's hand what this country's final number would be.
But suppose China thinks it's better to wait until
after November elections?? Take that Trumpistan voters!!
12
Why in the world are Republican Congressional leaders whining that Donald Trump shouldn't be recklessly waging a tariff war. For God's sake, they're the governing representative body of the United States and can pass legislation to prevent him from doing so.
He vetoes the legislation? OVERRIDE the veto.
What a pack of self-serving wimps Republicans are!
142
Perhaps it's because Republicans are secretly Comrades.
1
The Art Of Incoherence®
TRUMP 2018
A $20 trillion economy has no business being managed by a spoiled rotten child, real estate gambler, money launderer, celebrity TV actor, bankruptcy filer and pathological liar.
November 6 2018.
America's economy, democracy and future are at grave risk.
Register and vote.
106
Why would the Chinese (or anyone else for that matter) come to the table with anything in negotiations with the US? As the Chinese themselves have said, they don't even know what it is that we want. How do you "negotiate" with someone who has neither a coherent negotiating position nor the basic knowledge to formulate a coherent negotiating position? On top of that, even if by some miracle we manage to strike an agreement with China, there is absolutely no evidence that Trump will actually follow through on his commitments.
We've seen this exact story repeated over and over again. NATO negotiators from Mexico and Canada have given up on negotiations with America. Our NATO allies are pulling their hair out right now trying to figure out what we want from them and why. Kim Jung Un would rather visit a potato farm than negotiate with America. The Iranians are openly preparing for war, since our position is that we will only make a deal with them after their unconditional surrender.
This is the farce of "Trump the negotiator." He hasn't made a single substantial deal with anyone in the entire time he has been in office. This includes Congress, where his only "achievements" happened on a straight party-line vote. There are no deals and there won't be any deals. Only needless chaos that weakens our nation at home and abroad, perhaps irreversibly.
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