In 2017 China was granted more patents than any other nation. Its plan to be THE tech leader in the world by 2025 is moving along nicely eg Huawei's 5G architecture/transmission is based on a more efficient wavelength than the USA`s program which is less developed. Think of the Beta vs VHS contest in the 1980`s.
Penalizing China by whatever means will not prevent it from winning. Recall that ALL empires fail (the Roman , the British , the Hittite , the Persian , the Maurya Empire of India , the Aztec , the Inca , various Chinese empires , et).. The USA`s 800 foreign bases will shrink as the unsustainable US deficit crushes its economy as the 21st century proceeds. Trump , in lining his own pockets, is greasing the skids on the decline & fall of the USA.
3
No tariffs are best.
NZ doesn't have tariffs; tariffs are the old way of doing business. The future is free trade deals but I suspect that Trump doesn't want free trade deals because of all the heavily subsidised farming and rural sectors that are propped up by USA government subsidy money and because that sector are where the majority of Trumps voters live.
USA had a good deal under the TPP free trade agreement; a lot of the negotiations were not in NZs interests under our last government & were rather weak on standing up to the USA, especially on drug buying. We were really pleased when the USA, under Trump, pulled out of the TPP because we were going to lose some of our sovereignty to the USA because of Obama governments tough stance. Most kiwis couldn't believe our luck when Trump pulled out of the TPP and if you want back in you'll have to negotiate different terms and you won't have the advantage you had under the previous USA government.
Trump is living in the past with all this tariff stuff and the future is free trade agreements. NZ does trade agreements with some nations and pays tariffs to nations like the USA. You have to be versatile, also trade is different to open borders where govt is law making legislature. You can't have tariffs on stuff so other nations can't compete with your farmers then not expect them to join a free trade agreement global collective where they can buy and sell elsewhere cheaper. Sovereign nations can decide where they want to trade.
4
A bully has only one weapon that he uses at every opportunity, since he is incapable of nuanced behavior. Such is Trump.
The great dealmaker hasn't made a good deal in all his time in the presidency. Why? Because he was never a good dealmaker, only a bully.
5
How stupid Trump and his followers are, to think that the brutish intimidation tactics and crude demands he's used for so long to cheat furniture makers, homemakers, and other honest private citizens are going to work on the geopolitical might of China and its 1.4 billion people.
China has already won. They hold undisputed supremacy in Asia, are the largest developer in Africa, and American influence in Europe is quickly crumbling in favor of the Chinese. The US is bleeding white from continuous wars across the Middle East, achieving nothing but hatred across the entire region. America's allies Saudi Arabia and Israel are virtual factories of human rights abuses.
The negotiations are largely about how much China will demand in exchange for granting Trump a "deal" he can then hawk to his base. After the collapse of talks in North Korea, they already know that Trump cannot afford to leave empty-handed. They can smell the desperation on his tweets.
4
If the WTO, Paris and Iran nuclear deals can be torn up when we feel like tearing them up what does a deal really mean? Using our economic strength today to force a bad deal for China simply means that China should do the same thing when they are economically strong and we are in recession.
By 2022 China will have roughly 550 million middle class citizens living in mostly modern urban environment. What happens when they decide to close their market to the USA because they no longer need to export to a country that has a shrinking middle class? They don't need tariffs to shut us out of their markets.
1
"On Monday, Mr. Trump repeated his insistence that China rebalance its economic relationship with the United States and end its role as a net exporter of goods."
The quickest way for China to get Trump off its back and ours is to step up its efforts to export more goods to the U.S. and then sit back and watch the stock market fall.
Go China.
2
I retail furniture that I import from China, I have 2 people that their jobs are in jeopardy if the 25% hits Friday, I will have to lay off one person immediately and keep one on till I clear back orders out. I hopefully can keep one person, it would be hard to do everything here myself. My wife works with me also and she can help. I have to go into survival mode as this will hurt my business and put the business in jeopardy. The 10% duties hurt but we managed, we down 20% in sales but we could survive that and make a little money and keep staff. I predict if 25% duties hit we will be down 50% ins sales, in seems like sales down double the tariff percentage. We have no back up supply chain, not one mfg would hit the price point we need to sell at retail in usa, I have been talking to Mexico suppliers but they about same as china with tariffs. Many small businesses will go out of business if the 25% hit especially independent furniture businesses.
4
The past administrations have deliberately misled Americans for decades to believe that the embracing of China under WTO and opening up our market to them would eventually lead them to accept liberal democracy as their system, further making them to be in line with the US against other totalitarian governments like North Korea, Russia and Iran.
Yet what they have done to USA in return of our blessings of free trade to them are totally adversarial.
1. Helped North Korea to build up nuclear ICBMs and encouraged them to make nuclear threats at US by sustaining their economy with the border trade.
2. Stealing not only military but also across the board industrial intellectual properties in all levels through all means including its overseas students and researchers studying and working in our labs.
3. Selling their IT equipment deliberately installed with backdoor app and program such as Huawei cell phones and its wireless networking systems.
4. making trillions of dollars of trade surplus from us, then using the money to build up its military capacity to invade and occupy the islands of the South China Sea and declaring the whole Sea as their territory, often publicly announcing to attack the US navy in the South China sea if necessary.
I cannot agree more with Trump on imposing new tariff on China even though I don't like his personality. surely honest than Joe Biden who said China is not an enemy to US and one more sign of Trump being elected again in 2020.
5
Tariffs are a tax on Americans to make them consume less. They are a windfall for the government in tax revenues. Of course the Chinese do not like it but in fact they do not pay the tariffs. But propaganda being what it is, Americans feel they are being patriotic by spending more for the same goods and paying money to the government which was previously given to the super wealthy in tax cuts. China cannot do much about it, other than make the adjustment. And Americans are happy because they are "sticking it" to China, but in reality they are paying for this privilege.
3
The tariffs may reduce the import from China. The trade deficit will not be supplanted by import from even lower cost countries and the overall US trade deficit will remain because we simply cannot make goods cheaper than the imports unless we close the door and stop lose import altogether.
2
Could these negotiations be completed without the daily tweets causing the wild market gyrations? Without Trump patting himself on the back each day? For the good of the nation?
Why is the chaos necessary?
3
Does anyone else think that trump is scare-tweeting to cause market bounces for his own financial benefit? That would be an unusual Congressional investigation.
2
It is not surprising that China will not honor any "commitments". To be honest, I would not either. First, Trump does not honor any commitments and will walk away from any deal when the going gets tough. Second, the Chinese can just wait for the Dow to drop a few hundred or thousand points and expect Trump to offer backroom concessions when nobody is looking. This is all a smoke and mirrors act on both sides, just like North Korea. The US has zero leverage and Trump is handing even more of it away every day.
1
When the classic GOP response to poverty, health care, drug addiction, crime etc. has been a churlish reference to poor choices and personal responsibility, the alacrity with which they spring to the aid of big business bespeaks the craven slef interest of their world view.
The notion of "forced technology transfers" has always been a towering example of Republican hypocrisy.
In the 80's American business leaders were confronted with the choice of handing over their technology secrets in exchange for access to the Chinese market.
For many, it was a classic short term benefit decision that informs so much of American business. Agree to the terms and take the avalanche of profits that ensued from access to bargain priced manufacturing and a growing consumer and government customer base.
Fast forward to the current situation where China has emerged as massive technological and economic powerhouse and American managers now go begging to the government to save them from their own short sighted decisions.
The time for a simpler solution has long passed. China is an economic superpower of our own creation. As the conservatives love to say "choices have consequences".
1
No need to worry about inflation, because this is the cause.
If you believe that Trump is going to bankrupt the country in order to justify terminating social security and Medicare then his actions make sense.
1
Political leaders should never give in to extortion, whether by terrorists or other governments. If you give in, they just come back for more.
1
Regardless of the outcome of the trade talks (deal or no deal) it seems to me that China's economy will continue to grow apace. This means that in five years, the Chinese economy will be the same size as the US economy and will be double the US economy by 2050, This has has been predicted by various experts. Thus, the US will have a hard time maintaining its position as the most powerful nation on the planet. So I see these trade talks as at best a waste of time. The best way to deal with this impending juggernaut is to build a balancing coalition of nations in East Asia like the TPP. But Trump stupidly scrapped this because this was Obama's idea. Tariffs could be imposed, however, to encourage them to reduce their CO2 emissions. After all, balance of power issues mean nothing if the planet is rendered uninhabitable.
Elites should always be willing to pay a few bucks more for something made in America vs made in China.
1
@Dr. John That's precisely the problem, they can afford to pay more the middle/lower classes cannot.
1
@Margo Channing
The middle class benefits from buying American.
Plenty of cheap China stuff at Walmart, etc..
Lots of elites here complaining.
If you want to invest in America, why buy Trump? The Trumps make nothing in America. Your analysis comes across hypocritical to the poor. Everything starts with you.
So Mr Trump is angry that China reneged on trade / tariff commitments. Can you imagine someone reneging on a commitment? Next thing you know China will pull out of the Paris Climate Accords! Or maybe even pull out of the Iran nuclear deal! Guess you can't trust a commitment these days.
7
Can someone please explain again to him how tariffs work?
2
Trump is no where close to be tough enough. The nation is behind him. If he can’t get tough enough to make China feel it is to their advantage to make a deal, then Trump potentially being blackmailed by Russia. This is the reason why Congress demanding his tax returns. He rambles a lot and then fizzles out. It seems the first is for American public and the later is buckling to Russian threat. Congress must execute its oversight authority.
Donald Trump never encountered a difficult situation that he couldn't make worse.
6
There is a good chance he will crash the economy before the election and,it appears he's working hard to do just that.
1
Here's what probably happened;
The gang of raggedy clowns that are Trump's negotiating syndicate have not been making any progress whatsoever over the weeks and months previously, but they would tell Trump sweet little lies about 'progress' here and a 'concession' there all with the purpose of appeasing Trump while hoping they could fix it all in the last minute.
Then, once the inevitible failure is nigh, they resort to telling more lies to Trump about China ruining the perfect agreement they had hammered out for Trump.
JMO.
This is however based on every other negotiation, pledge, and lie ever told by Trump and his team.
Coming up next;
Nancy and Chuck are so precious. They think Trump is negotiating with them on a big infrastructure deal!!
(Huge laughing cat with tears emoji here!!)
2
Enough of bringing hugs and kale salad to a gun fight with the GOP. It's time to use ever means necessary.
So China, if you're listening, get this crook's tax returns please.
2
Two questions for business experts:
If U.S. importers pay the tariffs on Chinese products, don't they pass that extra cost along to U.S. consumers?
What would stop China from putting their own tariffs on U.S. imports....which seems like a big loser for American farmers?
They would put tariffs on our pork and soybeans if they could feed themselves. Huge amount of their pork production is dead and dying.
2
Trump is determined to drive the U.S. economy and the U.S. consumer into the ground.
1
Maybe, just maybe, Trump should have thought of this before he tore up the last trade agreement with China? But, nah, that'd require actual planning, and he couldn't "go with his gut," which is difficult when your gut consistently says to destroy and corrupt everything you touch. So, here we go, another step towards chaos and the popping of the economic bubble. Everyone enjoy it while it lasts!
1
Mean while Trump jokes with Putin about Mueller but refused to talk to Mueller about Putin.
3
Soybeans have already spoken.
1
China always insisted that the tariff be lifted immediately. So where does this 'renege' come from? It's yet another fiction and misinformation warfare, Trump's favorite tactic. Just look at Barr hiding the Mueller report and then Trump claiming it "exonerated" him. Or Trump claiming that North Korea demanded "all of sanctions" to be lifted and then Pompeo backpedaling to "essentially all". NYT and other media should be more diligent and dig deeper into what Trump and his minions claim. They are a professional tag team.
1
The president manufactured this crisis to divert attention from Mueller appearing before Congress.
2
Trump Administration's negotiations
involve win for it and loss for the other.
It is asking China to take certain actions
but refuses to remove tariff. why would
China agree to tariffs on its exports
and buying more American products
and ease the business operations of
American companies. Same with Nkorea, it insisted on dismantling of
nuclear program but not lifting the sanctions.Also, with Taliban, it is non committal on troops withdrawal but want Taliban to stop their violent activities. At this point it looks like all these negotiationswill fail. So much for the art of the deal!
As Big Brother speaks, the markets respond.
Fake news about Chinese reneging by Trump's & team. His team was no where near any deal. The Chinese are on a different page. Its about shorting the market by the Trump Team Inc.
2
Dear Mr. President, Sir.
Don’t fool around with mutual assured economic destruction.
Play to win.
Stop all imports from China for 60 days.
Turn the South China Sea into a parking lot of ships loaded with containers with nowhere to unload.
Chinese factories will overflow like a stopped up toilet.
In 45 days the Chinese economy will grind to a halt.
In 60 days the Chinese will crawl to you, begging for a deal.
Just do it.
You do know we are not the only country they import goods to, right?
Interesting debated opinions here: should be aired publically
on PBS....with a moderated Oxford Debate Forum...like
the DOHA debate (ref...DOHA debates moderated by Tim Sebastian)
This idiot of a president thinks that the tariffs go directly into the treasury. Would someone educate this moron that we as consumers pay more for good as a result and that the treasury isn't replenished by raising tariffs. As we speak the market is down 329 point and pretty much everything across the board is in the red. The man knows nothing about so many things it's mind numbing.
2
Know what I think?
Trump called XI ( and Hannity, and Rush, and Bannon, and all his other criminal cronies) and said:
"Let's announce this tariff nonsense on Sunday....stocks will plummet, people will panic, and then on Friday we'll announce a "deal" that is so brilliant, the best deal anyone ever made, everyone is telling me this....
Markets in US and China will skyrocket and we will look like heros to both our countries!!! Heck, Europe will go way up too!
Don't worry XI....trade agreements are WAAAAAAAY too long and bow-ring to read for Americans today....they will buy anything that FOX Entertainment tells them to believe!!!
Why, we don't even have to make any changes...just tell the people we did!!! Just like the "new" USMCA, Isis is dead, N.Korea has no nukes and Kim wuvs me,Mexico will pay for the wall, and there was no Russain collusion!!!
Americans are dumber than dirt, especially my "base"! ( But I like uneducated people)"
In no time, they will be back to playing on thier phones, talking about who won on the Voice last night, and worrying about Hillary's e-mails!!!
We'll go down in history as the smartest leaders ever!!!"
XI nods in agreement. Hannity, Rush, Bannon et al hang up from the call and immediately ring their brokers to capitalize on the market losses.
Sarah Sanders gets ready to figuratively give Trump an oral s*x act on national TV, while the smirking " TeeVee Economists" clap behind her.
That's what I think.
3
Pretty spot on to me.
I can just imagine what's involved in this swindler's negotiations. Thus far, he has personally profited off Chine when it comes to several trademarks he's obtained which were denied before he became president, along with several rooms reserved in his hotel in the DC area, and Lord only knows what else.
What is this disgusting bum still doing in the White House when he should never have even been endorsed after the Trump "University" scandal.
Hasn't any of his sycophants caught on yet as to why NY didn't vote for him?
Answer: They know who he is, and they know what he is.
Hey, Lindsey Graham. We can see you. As in we the people. Stop acting as if your job is an audition for the remake of Gone with the Wind, you clown,
2
Very disappointing to see so many comments here that argue for appeasement of China to prop up artificially high stock values and artificially low consumer goods prices, at the ongoing cost of American jobs, American economic security, and American freedom.
Hope you all are sending your kids and grandkids to a Confucius Insitute "language school" near you for indoctrination in Xi Jinping Thought.
And on June 4, you can celebrate the 30th anniversary of the Tiananmen Square Massacre, the ongoing brutalization of Tibet, and the One Million Uighurs locked up in Chinese concentration camps.
2
Isn’t the basic premise of a tariff a restriction in capital? A good costs more so fewer are purchased and fewer are made, then capital waits to find a more profitable product or customer? Restricting capital slows growth, which slows job & wage growth.... so we recover from Trumps government shutdown, the Fed promises another year of historically, exceptionally easy money ... and Trump goes out and sucks out all the capital again while his minions cheer his economic brilliance & demand interest rate cuts from the Fed.
As a consumer I'm alright with paying the tariffs. The thing is one can control that, which could not be said about medical care, education, rent, property taxes, transportation costs etc.
From Huffpost:
"Trump has repeatedly claimed — despite multiple criticisms and corrections — that China pays tariffs directly to the U.S. But the tariffs are placed on goods imported from China. Importers. such as Costco, pay the fees to the U.S. and typically pass on some or all of the extra costs to American consumers in the form of higher prices.
A University of Chicago study found that consumers paid an extra $1.5 billion for washing machines last year because of a Trump tariff imposed at the behest of Whirpool Corp. that only added $82 million to U.S. coffers. That was because manufacturers got away with charging more for dryers along with washing machines, even though no tariffs were added to the cost of dryers."
6
In other words.
Tariffs raise prices on goods so you can pay more. The people who support this believe by charging first world costs for goods that it will employ first world jobs and made in America.
It’s a closed border idea that if we just exist outside the world and not part of it we would be better off instead of trying to transition with social policy to blunt the current effects of globalization.
3
Every time I hear Trump say we lose 600 billion dollars through our trade deficit, I cringe. One would hope that the president of the United States, especially one who claims to be a businessman, would know that we don't lose 600 billion dollars. Trade is not a zero-sum game. The money flowing in and out through export-import goes into private coffers, it does not belong to the government and it does not belong to the United States of America. It belongs to companies which do business in the United States and import goods to fill a niche in our markets. The money paid by consumers for imported goods then goes back to those companies which maybe American companies and they are then free to invest the money however they decide. That may be in wages, it may be improvements, inventory, it may be reinvested back in United States. For instance, a foreign car manufacturer, Imports automobiles in the United States, but in order to make those sales effective, they have to buy buildings, employ salesman, mechanics, etc, etc. That means the money we spent in importing that automobile also comes back in the form of wages and other things that improve our economy as well.
3
Will someone please explain to Trump and Mnuchin that we are bargaining from an extreme point of weakness. China has already won the long-term game globally. China also realizes that Trump is simply using the trade talks to" spin a win" for his 2020 campaign.
Finally, China and the world know that an agreement with the U.S. is not worth the paper it is written on. The U.S. will simply walk out of any trade agreement when anticipated results don't work out.
7
@Paul Robillard
Hopefully voters will pay attention that the tariffs are hurting the US consumer, the money doesn't go into the treasury (apparently Bone Spurs thinks they do). As soon as they realize that they will be paying more not less based on these tariffs they will show him and all of the repubs the door in 2020.
3
You have to convince the closed border folks that it somehow won’t bring high paying jobs back by forcing companies to produce items in the US.
1
I just bought a new washer/dryer because my 21-year old set gave it up.
I just found out about $150 was added to the cost of the new washer/dryer to cover the tariffs. Tried to buy American but couldn't find something to fit my small space.
China isn't paying extra- WE are.
8
This shows that Trump et al doesn't understand a thing about economics. The upside surprise in first quarter growth as stated is due to a large drop in import and this is due to the fact that importers have front load imports from China to beat the tariffs. The reality is if Trump goes ahead with the new tariffs, not only will China response in kind and in greater ferocity, most of the costs are going to be passed onto US consumers because China's factories or US importers can no longer absorb another 15% hike in tariffs as there are simply no other alternatives to China. It's also going to hurt employment and force more farmers into bankruptcies as they are cut off from the Chinese market.
7
In a variety of ways, China tests foreign leaders. They tested Obama and found him wanting, to the predictable detriment of the US. They understand that Trump is different and that difference will benefit the US. They can’t prosper without us; all that remains is to define the relationship.
6
Who pays our debts so we can spend like we do?
1
@Larry
Dream on. China is already filling all of the roles Trump has withdrawn the US from. They don't need the US, nor does Europe nor anyone else. The US will be begging for terms once Trump's misrule is over.
1
Please President Trump, stop playing jojo with my 401K---do you have a long-term trade strategy in mind or are you treating China as just a errant contractor who needs a little Roy Cohn treatment. Hammering a culture that views such behaviors as impolite, to say the least, will not advance the kinds of patient and gradualists talks that will move the leaders of China into a more equitable relationship with us.
7
@Amanda Jones
How has he damaged your 401K?
Aside from trump's weird fantasies about his 'deal making' acumen, his actual record leaving behind a series of costly business bankruptcies has been a miserable failure. Recklessly and flamboyantly playing the tough guy in trade negotiations is hardly an appropriate strategy, particularly with a powerful world economic adversary and major US creditor.
47
@John Townsend
The past administrations have deliberately misled Americans for decades to believe that the embracing of China under WTO and opening up our market to them would eventually lead them to accept liberal democracy as their system, further making them to be in line with the US against other totalitarian governments like North Korea, Russia and Iran.
Yet what they have done to USA in return of our blessings of free trade to them are totally adversarial.
1. Helped North Korea to build up nuclear ICBMs and encouraged them to make nuclear threats at US by sustaining their economy with the border trade.
2. Stealing not only military but also across the board industrial intellectual properties in all levels through all means including its overseas students and researchers studying and working in our labs.
3. Selling their IT equipment deliberately installed with backdoor app and program such as Huawei cell phones and its wireless networking systems.
4. making trillions of dollars of trade surplus from us, then using the money to build up its military capacity to invade and occupy the islands of the South China Sea and declaring the whole Sea as their territory, often publicly announcing to attack the US navy in the South China sea if necessary.
These reasons should be enough to justify Trump's trade war and that US dollar is the sole global currency to make the international trade possible may trump the concern of China being major US creditor.
1
It’s not a case where playing nice has worked.
I think it as fatal error to assume that it is possible to have a win-win outcome with China.
@Geo
Exactly. That's why the TPP was created.
You are spot on. Can't play nice with China - but we can play nice with their competition, forcing China to level the playing field.
Too bad Trump can't play nice with anyone.
Is it me, or does it seem like Trump is manipulating the markets? I'd love to see the SEC take a look at activity in his brokerage account, and those of his family and any friends, to see how activity lines up with some of his seemingly random policy announcements.
17
I would rather pay the 25% tariff on Chinese goods than ever buy a product from a Red State. Prior to trump I bought goods at any price that were made in the USA instead of made in China. But, since trump I do not want to enable/reward Red States for their stupidity of voting in trump and endangering our democracy. Now I buy first from Blue States, and if not made in Blue States, then I buy from anywhere in the world but Red States. If only made in Red States, then I do without. Can't wait for end of the worse king ever trump to be over and democracy to return. I may however never buy from Red States again.
11
@Rebecca
Name one thing you do without because it is only a product of a red state.
@Rebecca China thanks you.
The homepage headline for this article "Trump Is Prepared to Hit China With More Tariffs" is only partially accurate and at least partially biased and therefore misleading. Should it be "Trump hits American consumers with tariffs on products from China"? Same issues with that alternative. Please do better NY Times.
17
It just occurred to me that these folks are in "it" for the short term gratification of low taxes, popularism, international aggression politics and other neat ego boosting tricks. The thing is, none of this is sustainable. The debt is not sustainable. The shift in import tariffs is not sustainable. The consequences could be 5-10 years down the road. Any contraction has and always will land on the backs of those least able to finance it.
For now the stock markets soar, and Wall Street and Trump administrators want to keep you confident enough to throw in every dime you earn. In the end the people like Trump, risky financiers and shady corporate sharks, who easily shed their debts will always come out on top. If you think about it, it IS genius to finesse people out of every last dime and then leave them holding the Bill. Trump and republicans have kept enough loop holes to insure that they do. Sadly, this is a historical heist.
8
@Dr. Girl
Should we just allow China to financially abuse us?
7
Trump operates his businesses as you describe. Most business people are not like Trump but there are a lot of people like him in business around the world. As business people they basically suck. They don’t pay their debts because they don’t operate reasonably and refuse to prepare for likely outcomes. They are always looking for people to trick into financing them but usually end up doing business with other dishonest people. Despite his money, the big banks in this world know that Trump is a bad bet so they don’t lend him money.
1
Abuse us how?
It's not that I'm convinced the guy is a crook, but I can't help but wonder - after the tariff-tweets and the markets tanking - that somebody in the White House is making a boatload of money short selling stocks.
14
My thoughts exactly. The SEC needs to investigate any unusual shorting of stocks or indexes in the days preceding the weekend tweets. Looking at Trump inner circle first
7
Let me correct your headline: "Trump Ready to Hit US Consumers With More Import Tariffs". There, fixed.
19
I'm surprised by this but I congratulate Pres. Trump for being the one President who is doing something regarding trade with China. China is sitting up and taking notice.
5
@Julia You do realize of course (or not) that YOU will be paying more for goods. This is not a help to US consumers.
@Julia
They sure are. In two years, they have pushed the US out of the leading role in Davos, and are now set to become the main partner of Europe.
The US is set to become the world's premier nation for coal miners, though.
1
So American businesses set up production in China to take advantage of a system which pays employees $50 per week and when domestic unemployment and inequality rises, China gets blamed for welcoming employment for their people? If the issue is intellectual theft then deal with that issue. But claiming that it's China taking advantage of America is a big joke from a president whose business manufactures it's products in China!
9
Truth!
1
China?
Just another mess created by 35 years of Establishment Status Quo politicians.
9
One cannot believe a single word from Trump or anyone in his administration and the Chinese know that.
8
Somehow our "fake news"President forgets that China amongst other countries floats our treasury by buying T notes of which we pay them great interest w/o China the dollar collapses.
6
Yes - China has T-bills.
Time for America to accept her role as a vassal state. (Sarcasm)
@Carlyle T.
If the dollar collapses, China's investment also collapses.
@Fourteen14
That is true does not make me feel any better regarding our great foreign country debts as a country, would Saudi Arabia collapse as well?
Strange bedfellows we have ,that we can be assured of.
Nothing he does will undue the damage to USA from him killing the TPP.
6
The Republican way. When your ideas are shown to be an abject miserable failure because they are based on ridiculous lies and fantasies, do it more!
WSJ did an analysis of the cost to American consumers - tariffs are taxes on American consumers - just for washing machines Americans got socked with taxes totaling $1,500,000,000.
What a very stable genius. Raised working people's taxes, then raised them some more. Now wants to raise them again, all while working tirelessly to take away our health insurance.
13
President Trump is doing the right thing for America.
4
He has been playing this game for awhile. He threatens and stocks fall, he buys, he then walks back the threats, the stocks recover, he then sells. Nice racket.
14
Before worrying about China, Trump should pay some tax, himself.
10
Those Ivanka Trump clothes just got more expensive.
3
Our "financial genius" of a POTUS thinks that when he raises tariffs on good imported from China, the Chinese government pays the tab.
Maybe somebody should ask him whether the US Government sends money to China (or to Europe, or Canada, or Japan) when any of those jurisdictions raises tariffs on good imported from the US.
If he says "yes", he should be asked to show us the check.
What a financial ignoramus we have in the White House.
3
Along with a whole herd of economic morons in the Trump “administration”...better call it the mob that couldn’t shoot straight
It’s nifty to see that like Trump, Trumpists have nothing on offer but bluster, yawp, slogans and a soupcon threats.
There’re no numbers. There’re no facts. There’s no knowledge to speak of, and what there is—like the claim that TPP didn’t address intellectual property—is wrong.
Then there’s a buncha hooey about genius, chess and MAGA and that feckless black guy.
By the way?
Trump threw intellectual property and human rights out of his little deal, and as far as I can tell, the Republican Senate hasn’t so much as started hearings in his last Suoer Big Magnificent Greato Trade Deal.
Cripes, last time I saw anything like this, it was guys swearing that Bernie Madoff was the greatest even if that devil government was picking on him.
6
@Robert
TPP didn’t address intellectual property.
The main problems with the original TPP were:
(1) Digital Policies that Benefit Big Corporations at the Expense of the Public: The IP chapter would have had extensive negative ramifications for users’ freedom of expression, right to privacy and due process, as well as hindering peoples' abilities to innovate. Other chapters of the agreement encouraged your personal data to be sent across borders with limited protection for your privacy, and allowed foreign corporations to sue countries for laws or regulations that promote the public interest.
(2) Lack of Transparency: The entire process shut out multi-stakeholder participation and was shrouded in secrecy.
https://www.eff.org/issues/tpp
In 2012, when part of the draft document was leaked, Lori Wallach (7/16/12), director of Public Citizen’s Global Trade Watch, described TPP as a “stealthy delivery mechanism for policies that could not survive public scrutiny.” Wallach noted that “only two of the 26 chapters of this corporate Trojan horse cover traditional trade matters”:
The rest embody the most florid dreams of the 1 percent—grandiose new rights and privileges for corporations and permanent constraints on government regulation. They include new investor safeguards to ease job offshoring and assert control over natural resources, and severely limit the regulation of financial services, land use, food safety, natural resources, energy, tobacco, healthcare and more.
The King of Renege is about to punish the Chinese for the same sins he repeatedly committed. Where are Trump's tax returns again?
The Republicans' hypocrisy stinks to high heavens.
4
Called this one two weeks ago when the MSM was breathlessly reporting 'Trump Admin. says deal with China is near', and then went on earnestly reporting about it.
Huge G&T spit take all over the monitor that night.
Never forget; Trump and his band of ragtag fools and malevolent mimes have not the ability to negotiate a successful conclusion of this matter, or any other matter.
Aside from knowledge, wisdom, experience, intelligence, one thing both sides in any negotiation must have is assurance the other side is acting in good faith.
No one who negotiates with the Trump mob will detect even one of these virtues.
8
This is nonsense. American business (the financial sector, finally) has chosen the cheap route by way of China. Now tariffs will correct these monetary squeezings and foist them finally upon the larger public. Winner takes all! What a racket.
5
Has Trump convinced a single American business to close even one Chinese factory and reopen at home? Don't think so.
1
Trump says he’s closing in on a “big trade deal” with China. Hmmm ... just like he is closing in on: - a health care plan - infrastructure - North Korea - oeace in the ME - Space force (whatever that is) - lowering the budget deficit - the wall. Boy, all this winning!
8
I wish I understood the real underlying conditions that lead to this trade dispute with China. I don't know whether President Trump is right or wrong about how he plans to deal with these trade negotiations. Because he has been wrong about almost everything else I fear that this may another one of his sophomoric mistakes. But, maybe he is right about how it is necessary to deal with what will be the world's largest economy. I for one will give him the benefit of the doubt until even here his instincts have led us into an economic morass.
3
We need leaders whom we can depend on and trust;
We cannot depend on the current GOP in the US Congress:
or our Justice Dept. ; and certainly not a unstable US President.
never mind saying: oh well Good Luck...let's just hope for the
best; or blame what is currently out of control on past administrations...let's get the facts; be enlightened by facts;
listen to those whom we know we can trust; and vote the
incompetent administration out of office...think this way..
we are the voters....the government works for the voters and
we can control our destiny....We can overcome gross opportunists like Trump and those in his orbit; and a incompetent GOP controlled Senate....We can in great numbers overcome those now trying to create an autocracy
in our nation..
2
Trump is correct that China has to be confronted. Obama was trying to do his passive aggressive thing that would have taken too long. Truth is, the US should not have allowed China to develop its massive export & manufacturing economy without following rules of trade & IP protections first. But past politicians were owned by corporations desperate to get cheap labor and sell goods cheaper. Americans did not lose 100%, at least Americans had access to cheaper goods in more volume, but at the expense of American jobs and perhaps as America's global economic leader. Bigger economies can fuel bigger armies as well so there is a lot at stake.
3
What precisely were these commitments? I notice there is no link in the article to previous press releases from the administration detailing them or independent factual reporting of agreements in terms - unlike the links to previous articles on the facts available outside the administration. Did China give DT its word on something, as he likes to phrase it? I was relegated to going through the comments to see if any learned readers were sharing updated insight, but no. The last word from Forbes (February) was "it's unclear precisely (other than D.T's blanket statement that talks are going well".) This fact free environment is dizzying.
4
@Leigh
China provides commitments to give commitments. Trump does exactly the same. Eventually everyone gets tired and just goes home.
I am sick and tired of hearing about new (as well as unending) tariffs. A tariff is no more than another tax on American people. The Chinese (or anyone else, for that matter) do not pay the tariff bill -- the people of the US who want those goods pay the tariff. It is a TAX -- nothing more, nothing less. Yes, the Chinese may experience fewer sales because of it, but the money comes from the American people, and goes to the U. S. government.
Why can't anyone see or understand this? It is a TAX.
4
As the wise man Vizzini once said, "Never get involved in a [trade] war in Asia."
2
Secretary Munchkin is typically unqualified for his job: three years ago he was producing cheesy action movies. Now, he's negotiating international trade? And passing judgement on Congressional demands for Trump's taxes, because they don't serve a "legislative purpose"? Sad.
6
To add to the chorus of the more than a few commenters who don't like Trump, yet distrust Chinese have your communist cake and eat it too capitalism even more:
maybe we'll all be finally be motivated to look for alternatives to the 'made in China' label, and seek alternatives to the break just after the warranty expires plastic junk that they sell.
1
We’ve been hearing this for 2 years and nothing has changed. This is not China’s fault. I blame our greedy American companies for investing and empowering a communist nation.
2
And we pay the price.
1
Well, if there is anyone who knows about reneging, it's Trump. Marriages, contracts, taxes. . . and on and on.
4
I am not a partisan of any party. I do not hate Trump for his personal behavior like most Democrat partisans do. But I have always been adamantly opposed to most of Trump's economic policies and economic actions.
Tariffs are a tax on Americans, paid by Americans, not a tax on the nation from which the products come and not a tax paid by the nation from which the products come. Tariffs create inefficiencies in the economy which means that the total wealth and production of the nation is less than it would be without the tariff.
Worse, tariffs unfairly benefit the makers and sellers of the tariff protected products. That benefit comes 100% at the expense of all other Americans.
Trump has enthusiastically embraced this economically stupid and unfair policy of tariffs. He even has publicly and proudly called himself "tariff man".
However, I do agree that the special trade benefits which the US has accorded to China should be immediately eliminated (for example, special low postage rates for China from the US Postal Service). I also think that US companies should be discouraged from investing in China (they will probably lose their investments anyway in the future from Chinese confiscatory taxes and regulations).
But Trump's tariffs are a fraud on the American public, unfairly benefiting a few Americans while harmful to most Americans.
2
China makes 57% of the world's footwear, typically the lower end part of the market. Will the Wal-Mart and Target consumers who are typically the low end earners in this country be willing to absorb these tariffs until production can be moved? Is there capacity elsewhere to absorb China's share of the market at their low wholesale prices? That includes skilled labor and machinery. Probably not. China owns nearly 30% of the home textile market, the United States is their biggest consumer. Will the Wal-Mart and Target customers be willing to absorb Trump's tariffs? We used to own that market nearly completely. It went to China, India and Pakistan because they could produce it far more inexpensively than we could and consumers wanted that. Former major U.S. mill powerhouses have been relegated to importers and at a tiny fraction of their former value. There is no additional capacity at this point to absorb 30% of the market. Point is, this entire exercise in tariffs hurts the consumer at the cash register. The Chinese will move more goods to Europe and Asia to defray the loss of business. Keep in mind many of these voters voted for Trump hoping they would win the lottery and they haven't.
6
@greg
Trump’s technique is direct confrontation, beating the adversary into submission, with tools that tend to maximize collateral damage. It feels good, unless you’re the one taking the hit. There is no proof of success in the long run for a smoothly functioning world economy. Obama’s approach is subtle with collective action to bring bad players in line over time (e.g., TPP), limiting disruption and collateral damage and creating lasting world economic hegemonies. People will differ over best and lasting approach.
3
@Sourcerer
How did Obama’s approach work with China and Russia?
1
Tariffs are a tax on U.S. consumers. And that’s okay.
When U.S. jobs are outsourced, society has to help pay for the food, shelter, healthcare, and education of the long-term unemployed. This is also a tax.
It’s better to pay the “tariff-tax” than the “social tax” and keep American workers gainfully employed at livable wages.
There is no free lunch.
3
Liberals said a year ago that President Trump’s tariffs would collapse the market and cause a recession.
The market and employment are up how much since then?
3
Both are about where they were. Still less than Obama’s jobs numbers, too.
5
Those from a military background tend to see an objective and charge to take it. That is not diplomacy it is an act of war. This is exactly how Trump is moving forward, instead of working inside agreements he is unilaterally breaking them in the name of speed to take the objective.
Diplomacy is patience and tact which Donald has none. His actions inch closer and closer to military options all over the world. War is no way to move forward but that is exactly the direction Trump's philosophies are taking us, creating barriers to peaceful negotiations.
Trump and the Alt/Far Right may well get a deal through with China, but that deal will be broken by China when it suits them, taking Donald's lead on how to re-negotiate.
Short-term gain for long-term pain, ginning up the hate in his base, is what our bankruptcy king is all about.
6
Nobody wins in a trade war. Tariffs are not paid by the exporter of goods; they are paid by the purchasers of those goods. The trade imbalance with China is growing wider. Trump claimed it is "easy" to win a trade war, obviously, it is not. American exporters to China are suffering, particularly American farmers. While, the Republicans wail against "socialism" they vote to subsidize American farmers which is a "socialistic" policy. In the mean time, China is expanding it's markets and finding alternative sources for the ones they used to purchase from the U.S. While the "NOT so great negotiator", continues to isolate the U.S. from the Global economy. American manufactures continue to build more plants overseas. His short term thinking is leading to more long term problems.
4
How will trumps trade war be worth it for the farmers and small business owners that have already gone bankrupt? Or for those that are just barely hanging on at this point but will not be able to survive if he ramps up this war?
Also, consider this..Repubs like to rip NAFTA for the job losses in America but they don't ever wants to talk about the fact that those jobs created outside of the country created exactly what American businesses wanted..emerging markets. Who benefited? American corporations.
4
I wonder how long the American government expects we Canadians to keep doing their dirty work for them vis-a-vis the Meng extradition. We certainly don't owe the Trump admin any favours (ongoing illegal steel and aluminum tariffs) and the American case against Meng is very weak -- its' hard to see any violation of any Canadian law. Meanwhile, Canadian farmers (mostly canola and pork) are suffering from Chinese retaliation and there's not much patience up here for being "collateral damage" in an American cause. That said, Canadian soybean and corn farmers have still managed to grab some of the Chinese market share lost by Americans. Hopefully, once Meng is released, other commodities will stop being caught in the crossfire.
1
So all it takes is for Trump to "think" China is backtracking on an agreement and he gets to wobble the world economy.
Such an opportunity is a short seller's dream. At any whim, Trump blasts China and causes the S&P 500 options market to drop by 50% in 6 hours. If Trump was a short seller, he made a fortune.
Given his propensity to lie and his demonstrated skills at enriching himself at the expense of everything else, does anyone think this opportunity has eluded Donald?
Will someone add another investigation to the current list of 17?
4
Trump's calculates that the currently strong US economy will continue into the 2020 election period when he can claim that strong-arming China was essential to the economic success. This is a political calculation, not one based on knowledge of economics. Chances seem good that his calculation will be politically fruitful; it's already gathering bipartisan support. However, Chinese media report increasing confidence that China can withstand Trump's tactics with an improving Chinese economy. The decision is to be resolute and not to cower to Trump's threats. American voters, while gradually paying more for Chinese goods as a result of tariffs, will need to decide whether to reward Trump chiefly for his bellicose tactics, as he believes they will.
1
Even if his tough tariff stance could help win Trump the current round of trade negotiations, it can never correct the US- China trade asymmetry that has made the US heavily dependent on the Chinese goods and markets.
2
@Prof. Jai Prakash Sharma Professor you are absolutely right. The US is not the only country though, but many other countries in the world.
2
In reading these comments there is one stark point that has been left out as to who is partially to blame for the Chinese taking advantage of trade-we the consumer in this country and the corporations that satisfy the consumers needs.
We flock to the nearest discount department store seeking the lowest price, always. So, in order to give us that lowest price the manufacturers move manufacturing to low-cost countries and still make a tidy profit.
And this cycle continues over and over.
Yes, blame China, but, also look in the mirror.
23
This is true, and I’ve often made this point to people who complain about all our outsourced labor and products. However, we need to remember that the wealth inequality in this country plays a huge role in this, bigger than an individual’s consumer responsibility. We have people shopping at Walmart because it’s all they can afford. Meanwhile, wealthy and well-off individuals are awarded the opportunity to decide where they do their shopping based on things like the quality and the ethics involved in their manufacture. This is much more than everyone just needs to start buying American products.
5
This is one of the rare issues in which I tend to side with Trump, regardless of how poorly carried out. It is undeniable that China's trade practices have affected American and European workers, fueled by the greed at the top Western companies that moved their manufacturing to a place where environmental and labor regulations are incredibly low.
Trump is absolutely lying if he thinks this won't impact American consumers, and he definitely doesn't understand that trade is not a zero-sum issue, but I hope his actions push Democrats and Republicans to search for trade that is fair, not free.
4
Trump's using a political approach to an economic issue is like taking a steamroller to an Indy race.
He can get on the track, he can drive around, but there will be nothing left if he wins.
4
this time something hit me that I hadn't thought before - I hope that someone is watching the president's family and associates for insider trading. he knows now that his tweaks move markets. I really hope this isn't the case.
6
@Doug ks I read a report attributed to Pro Publica that stated the Trump family is profiting handsomely from we the taxpayer when Trump travels to his palace in Mar A Lago to house the staff, the government employees and to feed them.
So, I would not discount any report the family of grifters is participating in insider trading.
1
You hope. No hope
As a former importer of general merchandise I can assure you that Chinese manufacturers will just shift their production to other countries as they have done so in the past in order to avoid the loss of United States customers.
Unfortunately many Trump supporters think that China is just shipping goods here. They do not understand that importers like myself and retailers are sourcing the products they sell and will go where the prices they pay will prop up their bottom line. If a country has "Most Favored Nation" status, you can rest assure that products are being sent here with little or no import duty.
Retailers that are on the edge now will be pushed over that edge if 25% import duties are enacted on current low duty items. Consumers will stop spending. Just look at the drop in sales in "white goods" (washers & dryers) since the higher duty rates went into effect.
Trump and his band of sycophants have no idea about economic policy, international trade and the global economy.
9
@Alan Well stated, but, the screeching concerning China has taken root and your thoughtful comment will be disregarded as it does not fit in Trump's narrative.
3
I want to remind those who say that Trump is “finally doing something” instead of supposedly “appeasing China like Obama” that the TPP, which Obama shepherded through detailed negotiations with many of our trading partners, would have given us far more leverage with China, and would have made it more possible to hold China to account for trade violations and IP theft.
But Trump, with his usual pernicious admixture of hubris, egotism, ignorance, hatred of all things Obama, and utter disdain for friends (remember when we had friends?) and multilateral agreements, threw away the TPP while securing absolutely nothing in return.
I also want to remind people that “doing something” is not the same as “doing something right.” Again, as usual, Trump is causing maximum damage for minimal putative gains — and those gains have not yet or may not ever be realized.
14
On international trade, if your main advisors are Navarro and Lighthizer, you're negotiating your ideology, not what's best for the country. The goal for Trump is to make himself look great, not help America.
4
America's problems with China (like Canada's) are the fault of successive generations of politicians and corporate leaders who allowed cheap Chinese-made products (junk) to flood our consumer markets. Sure, we got cheap consumer goods, but at a terrible price -- the loss of our manufacturing base and the jobs that go with it. The Chinese economy is akin to a shark . . . if a shark stops swimming, it dies. If the Chinese economy stops growing, China will very soon be in crisis because there will be millions of unemployed, hungry people who have come to expect (and demand) a rising standard of living. History teaches us that when despots and despotic regimes are in trouble, they lash out against "foreign enemies" and internal dissidents alike. And conflicts and wars happen.
5
@Distant Observer
Factories are already closing in parts of China. The unemployed are now running to urban places to look for jobs, for which many of them are not qualified. I do not wish harm to hard working Chinese; and, it is hard to see any government power being challenged. Those who left before a restriction was placed on travel visas are fortunate. The loss of factory jobs will have a long term effect. We don't get much in depth reporting from China, unless the old China hands return home and write about changes. China is in a transition period; we might want to pay attention.
So Trump's people are complaining that the Chinese are following standard Trump negotiating tactics?
9
Even if you think the US should do something about IP theft and predatory pricing on solar panels, everyone knows Trump has zero idea how tariffs work. Not even a junior high level knowledge.
Remember how Bostonians were upset that England had to pay high tariffs on tea so they threw tea bales into the harbor to protest? Me either.
3
For the first time in two generations someone is fighting for blue collar, non government union workers against the unfair trade practices of China. Democrats need to get their heads around the fact that their base, blue collar workers, haven't seen a Democrat fight for them since LBJ. Clinton tried but NAFTA failed them. If raising the cost of washing machine 50 bucks or a $35,000 truck by 250.00 they are willing to pay for the jobs an opportunity. Biden, lunch box joe, actually said yesterday that China is not our competitor - because he needed a sound bite against Trump. Biden created an entire ad campaign for Trump 2020 with that comment. $200grand to a porn star, so what. Pull your heads up Democrats you can't even see the fight your in.
4
@Mkm
The leading presidential contender for the Democratic Party just said China is not a "competitor". Had he used any other word instead of competitor, he might have been right. But "competitor"? What a blunder.
2
@Mkm Well, Biden only gains from the Chinese surveillance state that is aimed at ethnic cleansing:
https://theintercept.com/2019/05/03/biden-son-china-business/
Wouldn't surprise me if the family branches out into concentration camp business. Shameless opportunists and appeasers.
It is foolish to take business decisions like tariffs on the basis of opinion polls.
2
Trump and, apparently, a lot of commenters here don't seem to understand that it's not the Chinese paying his tariffs, it's us. U.S. importers pay what amounts to a tax on tariffed goods and pass the added cost on to we who buy them. The Fed estimates that Trump's tariffs have already raised consumer prices by $1.4 billion a month. And we're paying a premium for whatever jobs are created here at home. One example: Trump's tariff on imported washing machines has created some manufacturing jobs in that U.S. industry, but at a cost of $820,000 per job. Another example: Trump's tariffs on steel and aluminum have raised car prices to the point where fewer people are buying cars. And if Apple stops manufacturing its $1,200 iPhones in China and starts assembling them in the United States, the price will rise to $2,400 and no one will buy them.
6
@Christy I am no economist but isn't that the point? Consumers in the US are paying more, and technically that should drive down demand and thus eventually make it more feasible and cost effective to move manufacturing out of China. Sure if things are manufactured here they will be more expensive but those jobs created will eventually raise people's buying power here.
1
@Joe O'Malley
Trouble is, if U.S.-manufactured goods become so expensive no one wants to buy them -- not only American consumers but export markets we compete for abroad in what is now a global trading system -- U.S. manufacturers will go broke and the jobs they provided will vanish.
2
@Christy
I recommend Math 101.
Apple's mark-up on iPhones is over 150% since the cost of manufacture is less than $400. 25% tariff on $400 would be $100.
Assembling them in the US would cost around $100 more, paid to American workers. Any one in favor of that? Let China continue to make the boxes. Let's not share our latest technologies with them.
1
I don't know enough about trade deals with China or any other country that may have been not in our best interests, and maybe we should seek a better deal. in the mean time gas has gone up at the pump, and now it appears prices will go up for American consumers on imported Chinese products, if individual one follows thru on Friday with higher tariffs. one would think that since the economy is the only thing individual one can brag about (started booming under Obama), he wouldn't want risk loosing that talking point. for those individual one supporters, you might want a new tax bill(money in your pocket) that supports the higher gas prices, along with the new higher prices on imported products from China, because of individual one's tariffs.
1
@Ricky
The big permanent tax cuts Trump gave to corporations and the very rich will affect the deficit in tax revenues. Who will pay for the revenue deficit? The working people whose paychecks can be accessed. Corporations and very rich people have tax experts and attorneys to figure out how to avoid high tax bills. Most people do not have that kind of advice.
Methinks Trump got this from Putin last week in their phone call.
7
My question is - will all 100 delegates be staying at his hotel? further lining his pockets with money he shouldn't be getting?
10
Here in Pike County, a woman in our Rite-Aid expressed that she was afraid that if her clothes washer broke down that she wouldn’t be able to afford a new one—“because of the tariffs.” Trump should worry—the “uneducated” are educating themselves.
13
@bonhomie
She probably also believes that Barr committed perjury and most individual taxpayers didn't actually receive a tax cut.
You have people like Speaker Pelosi to thank for their ignorance. They are being fed a pack of "untruths" by the Democratic Party. They lie and partisans swear to it.
As a progressive, I'd like to see China lift their postal subsidy. It has been cheaper for Chinese merchants to ship to the U S. than for American businesses.
5
Sorry, but all these commenters saying "I don't like Trump, but in this he is right", make me think of the Mussolini apologists saying that they didn't like him but that at least he made the trains run on time. It's irrelevant whether or not Trump occasionally and/or inadvertently does or says something that benefits you. He is and remains unfit for the presidency for all the other reasons not mentioned in the comments and this article.
19
It’s not irrelevant at all. There’s absolutely nothing wrong with liking some policies of trumps and not liking others. That’s completely normal and positive step toward thinking critically.
If you are unable to enjoy some things about people and not others, you are entrenched in tribalism. Your comparison with trump and Mussolini is very tribal and dangerous.
These policies on trade have clearly had some effect on positive job numbers and wage gains reported by this very news organization. All Americans are benefitting at least somewhat.
2
@Moe: I did not compare Trump to Mussolini, I was comparing the apologists for two authoritarians. Trump, if not (somewhat) reigned in by the courts and congress, would be more like Duterte, whom he admires, along with Putin, Kim Jong Un, and possibly Hitler, whose speeches belong to the few things he actually read.
“Excellent decision by @realDonaldTrump!” Laura Ingraham, a Fox News host, tweeted, which the president retweeted onto his feed. “No other president has had the guts to take on the China challenge.”
That says it all. We finally have a President, not a pastor. Isn't that what we voted for?
3
@Vivian: I guess there are no tariffs on the MAGA hats made in China...
16
@Anna
Not yet, but the tariffs would be on CIF value (cost, insurance and freight) which is generally around 10% of final retail price. If it sells for $10 and CIF value is $1 the tariff would be 25 cents. Republicans would pay that willingly.
@Vivian: I think you missed something in my comment...
Already the trains full of Chinese steel are rolling through town.
This "speculation buying?" might even give the economy a temporary boost at the expense of future quarters.
2
Trump wants a tariff on everything out of China except for China's export of red and pale blue ties.
4
Meanwhile farmers in the mid west are still receiving billions of dollars to make up for what they're losing to the trade war with China. How long can this be sustained?
23
That is exactly the point, China cannot sustain the trillions in industrial subsidies they pay. Nor will the 500,000,000 who have entered the Chinese equivalent of the middle class continue to suffer slave wages. We on the other hand have a much more mature and significantly more capital based economy than China. We have been funding billions in farm subsidies for 70 years, it's already built into our economy.
2
@Mkm I don't know about that. What I do know is that the department of agriculture funds farmers to prevent an oversupply of crops and price depreciation. I remember years ago the government would give away free blocks of cheese stamped with USDA. They would buy up a lot of cheese and store away in warehouses so they won't go on the market then lower the price of cheese. Someone mentioned in a few comments earlier about the milk farmers in Wisconsin how they have been affected. The NYT also did an article on that where some milk farmers are selling their cows to the beef market. Milk prices have dropped too low to maintain their farms. But I have never heard of the government subsidizing farmers due to trade wars. That's news to me. It's capitalism where the strong is allowed to survive instead of being propped up.
1
It is often said about business dealings with Chinese firms that the signed contract is only the beginning of the negotiation. They have their perfect partner, or perhaps adversary, in Donald Trump, the man who famously doesn’t pay his bills even when he is not stiffing people by declaring bankruptcy.
Unfortunately, the same Donald Trump also represents the USA, that is to say you and me, in dealings with the rest of the world.
Wasn’t it quaint when it could be said of a man “His word is his bond”?
2
Here comes the rally around the flag effect. Trump really know what he’s doing. We’re just part of this show. Well played, sir.
2
Between now and 2020 Trump will announce a ground breaking deal with China (like he did with Mexico and Canada) and get a few bones from them and declare he is the greatest president since Lincoln.
Trump was, is and always will be a free trader, ie ship American blue collar jobs off to slave labor countries.
His base will fall for it.
11
Meanwhile Canada is experiencing ever major trade obstructions from China as part of a whole suite of reprisals by the Chinese government against Canada because of Canada respecting its treaty with the US by arresting Huawei's CFO in Vancouver, with Mr Trump unhelpfully suggesting that CFO could be a bargaining chip in US negotiations with China. Meanwhile no word of any support for Canada in US negotiations with China. US friends? Just like being on Tramps staff - you are guaranteed peripheral damage, if not direct hits. In Canada's case it is both bigtime: we are still under the ridiculous tariffs against our aluminum and steel on the pretext we are a security risk. The message is to find distance and trading partners who can be trusted.
15
If Schumer and the US public think this is all about China, think again. It's clear that commitments of any kind don't mean anything to the current US administration. By consequence the US is seen as a self serving, double dealing liar that now has no word and has lost all its once considerable soft power everywhere in the world. Except of course, in places like Saudi Arabia where US presidents pick up their retirement gigs.
Best of luck. You're gonna need it, all alone.
11
@Andy
Would be nice to know what commitments you're referring to.
2
@vivian
I'm sure you would but facts alone can't cure willful ignorance. I have no ambition to convince a Trumpster, that's just not a reasonable goal in the real world. So I'll let you break a sweat and find out for yourself, I won't holding my breath.
5
Ask Mr. Lighthizer whether he adopts the practice in trade negotiations of saying (actually, agreeing, because all parties do this) that “there is no deal until there is a whole deal”? He will say yes. Ask him whether the US has ever adjusted proposed commitment A to take into account new commitment B, or in reaction to another party’s new position C. He will say yes. Ask any trading partner whether the US can honestly complain about anyone re-examining past commitments in light of the US’ commitment-shattering tariffs.
5
One aspect of this that bothers me is how Trump relishes in inflicting pain on others. This isn't just a consequence of China choosing to do unfair things and paying the price for it. It also feeds Trump's sadistic personality. Step back here and look at Trump: when he is subject to pain for bad decisions He has made, he goes ballistic. And when he inflicts pain on others, it's like an addiction for him. He gets a high off it. Nothing more sick than that. Of course when your opponent defeats you fair and square, that's one thing. When you look over and you watch your opponent overly gleeful, you forget about the loss you have suffered and want revenge. One day it will come around for Mr. Trump. And his followers better be ready for it. Because the world will stand by and say: "He had it coming". Imagine if Tiger Woods, after the Masters win, went around and gave the finger to every other golfer who played. Yea he would have won, but the hatred for him would be palpable. The fact the base does not understand that will result in grave disappointment for them one day. On that day, Trump will see how the rest of the world will relish in HIS loss. Even if a price has to be paid to achieve that.
15
Perhaps the Times should consider an alternative explanation or motivation for getting tough on Chinese efforts to take back earlier agreed to concessions on their part.
Perhaps it has nothing to do with the 2020 election. Perhaps he demands that once issues are agreed to and put to bed, good faith requires that they remain put to bed.
I don't think the President has a lot to worry about in 2020. The 20 dwarfs he is running against should have given it their best shot in 2016 when they were not running against an incumbent.
6
@RM
Go read up about something called the Iran deal. It seems like a stretch, but you might just learn something.
5
@Meg
I learned that sometimes you need to walk away from a bad deal.
1
@Vivian
Read more carefully, and you will learn that people who lie, cheat, and dishonor commitments which have already been made will have their words regarded as worthless. And no one will take seriously or honor any commitments to them.
5
Trump would rather have no deal than a bad deal. This distinguishes him from every other negotiator before him. I have never picked our opponents over Trump and won't start now.
6
@AACNY
Wrong.
Trump would rather have no deal than a great deal made by someone who is not him. It's always about him. He has to be the star of the show. The hero, in his own diseased imagination and those of his followers.
22
He is angry China reneged on their promises? How often has he done this in his business life and political life? How ofen has he let the U.S. do this? What about his promise to release his tax returns if he was elected? Such a hypocrite of the 1st order.
19
A broken clock is right twice a day.
8
Talk about one eyed! USA has heavily subsidised farm and other product so foreign nations can't compete with USA product. It's like the pot calling the kettle black and very hypocritical.
12
@CK
"Talk about one eyed! USA has heavily subsidised farm and other product so foreign nations can't compete with USA product. "
Well the NYT`s just reported that in the last 2 yrs 1200 dairy farms in Wisconsin alone gave up/switched/sold out due to the oversupply of dairy/low prices. The Wisconsin dairy farmers wish they had a supply control system like Canada so they could keep their family farms going. The value of a dairy cow fell by 60% during this period.
Yet Trump made a big deal (during the NAFTA negotiations) about selling more dairy to Canada even though the USA already sells 3X for dairy to Canada than Canada sells to the USA.
America is better than the Trump-Kushner crime family & their abettors .........…. I hope.
1
Good luck with those tariffs. The Chinese will sell their goods elsewhere, America will be detaching more from the global economic network, the poor and middle class will end up forking over more money to the treasury, and the dotard in the White House will face his reckoning. Soon.
14
@Meg
Right. All that cheapo junk now sold at Harbor Freight will instead be sold in central Africa or somewhere else.
The fact is, a lot of that junk is designed for USA consumers. Nobody else wants it.
7
@Meg
America actually did very well before the global economy ruined it for us. We could afford a better standard of living and we didn't have 47% depending on government handouts. Anyone remember the 50s and 60s?
1
@Vivian, those days are long gone and will never come back. Trump supporters have to accept that, but they won’t.
2
Your headline could be better. It should be "Trump Diverts Attention from Criminality to Incompetence." There I fixed it.
18
Putin calls and Trump manipulates the stock market. Each time is an opportunity to invest while its low and benefit when it swings back up again. How much money is the Trump family making each time he fiddles w the market?
12
This is like all his other grand schemes. Inflicting what he feels is punishment.
However, "the pain will be worth it" to Trump because neither he nor China will be paying the tariffs, the American people will be paying in terms of higher prices. But your paying more for the tariffs is a sacrifice he is willing to make.
It is clear that Trumps policies are costing Americans more everywhere you look.
10
Any sustainable trade agreement with China is doubtful. The Chinese will keep stringing US along, agree to things, put something in writing, finally sign something, but then it'll be open to interpretation, and they'll be back to their old games once there is any political weakness in the US.
That is why the US worked hard to negotiate the TPP that Trump scuttled. I would not consider Trump to have failed if he does not secure an agreement with China, but getting out of TPP was massively dumb.
11
While the Chinese stole our valuable technology Trump insulted and demoralized U.S. intelligence agencies. The president is delusional. Tariffs don’t catch spies.
9
Good politically until the bottom falls out.
4
Ironically, Trump’s volatility coupled with his economic illiteracy and narcissistic ego make him a dangerous negotiating partner.
9
This guy knows money, even if he doesn't bother with ettiquette. He strikes China when they are especially weak after blowing billions pumping up their military - the one that has basically functioned only to kill innocent, unarmed Chinese families.
China has cheated in every possible way in stealing secrets on production of products and anything the world has come up with in the military area.
Is the premier of North Korea rattling his saber now as a show of distrust in China?
3
@The Observer - Trump knows how to lose money. Check out his bankruptcy record.
11
@The Observer
If they didn't hate Trump so much, they would be cheering this move. It's long overdue. His predecessor just accepted things, believing we couldn't really do anything. On the contrary.
4
Despite my disdain for Trump, I support his efforts in this regard 100%.
5
Get out your checkbook because supporting this is going to cost you dearly.
2
Trump is prepared to hit the American consumer with higher prices and disrupt the world markets to distract from his many front page scandals. I hope we don’t go to war with Venezuela or Iran before Mueller testifies. Trump is getting panicky so who knows what’s going to happen.
13
I was going to vote for Biden until I heard him saying in Iowa “Folks, China is not in competition with us”.
8
@Ivan
He also wondered what Margaret Thatcher thought of Trump' s moves. She's been dead for years.
4
This notion that Trump is the first President to stand up in China is utterly false.
Obama put together the TPP to box China in and gain leverage.
Trump foolishly scotched that deal in his first week in office simply because it had Obama’s imprint.
He would clearly benefit from such leverage now.
13
This is a fantasy that liberals like to hold onto that the TPP would’ve accomplished the same thing. The TPP had nothing to do with stealing technology, spying, or technology transfers. You’ve obviously never negotiated in China, this is their age old tactic; agree, agree, agree, and at the last minute when you are invested, reneg. You need to be tough and firm neither of which Obama was.
The other liberal trope was Trump would negotiate a weak deal and declare victory and now he is criticized for being too tough. C’mon we see what your doing.
PS Hillary and Bernie said they would have withdrawn from TPP.
2
Great, now Schumer is supporting Trump's bullying tactics on trade negotiations. [“Hang tough on China, President @realDonaldTrump,” Senator Chuck Schumer of New York, the Democratic leader, said on Twitter.]
Chuck, don't you know that this is the same sort of bullying that Trump uses to obstruct the investigations into his presidency? These techniques will be used against YOU. I suggest that you read Philip Roth's prescient 'The Plot Against America' before you go around praising the President's methods.
China is an easy target. Both Republicans and Democrats enjoy the sport of China-bashing. Truly puzzles me why China continues to buy T-bills, propping up the American economy.
6
@ShenBowen
T-bills are a safe place to park their money. The Chinese are an ancient mercantile country; they understand trade and banking. They got taken by the French colonials; then they got sucked into the Opium Wars. One thing they are good at is education and staying afloat.
China is an inveterate plagiarizer and will continue to do so until it is checked by someone.
Furthermore, it intends to destroy the economies of the developed world by flooding it with its plagiarized goods at cheap prices. It is destroying the housing market here in Australia and elsewhere by having its "millionaires" go and keep on buying properties to secure residencies here and in Canada / USA, etc. whilst causing irreparable harm to the local residents... lowering their living standards as the home prices are simply out of reach for the local residents.
President Trump needs to check these Chinese and must not forget Indians as well. Both these countries are copying stuff and not creating anything original. These folks need to be reigned in and President Trump is doing the correct thing. I wish Australia did a bit more but what I am seeing is that we have some politicians who have been bought by the Chinese - this is quite clear in New Zealand.
We must always remember that a Chinese is ALWAYS loyal to China and no one else. This is their basic tenet in life. A Chinese person's only allegiance is to China, and the same can be said of the Indians to some degree: I have seen that where you see one Indian holding a managerial authority, he or she will fill that entire place with Indians. Look at companies outsourcing carte-blanch to India, usually their heads are Indians.
1
Are we sure it is not Mueller report, 6 years of tax return, Kim's meeting with Putin and firing off projectiles, Trump Organization partnering with some Chinese state sponsor outfit in some outsource development, Federal Reserve's refusal to accede to his demand to lower the still low interest rate and restart QE again or all of the above that he decided to tweet the dog, a Chinese convenient scapegoat again?
People said "I don't like Trump but I am not choosing China over him" as if the outcome is bipolar. This is the Hugo Chavez's playbook and see what is happening to Venezuela now!
6
It's terrible to think Trump decided (at the last minute) to talk tough with China to help his 2020 campaign and distract the public from the 17 investigations looking into every aspect of his criminal life but that's exactly what's happening.
Reading the S. China Morning Post, this latest Trump tantrum won't change a thing. Many Chinese manufacturers have already relocated their plants to Vietnam to avoid tariffs, but none of these jobs are moving back to America.
In reaction, China will probably increase tariffs on US imports so the pain will be felt by American consumers. Already, US consumers are spending an additional $1.5 billion a year on washers and dryers as a result of Trump's tariff war. In farm country USA, we are utterly devastated due to the loss of soy exports. Farm country USA has been replaced by Brazil.
After Trump's first set of tariffs, Chinese exports increased thru clever handling of "bills of lading" and so will this one.
China is playing chess whereas Trump is not even capable of playing checkers. The Big Loser is the American consumer.
11
The fact that so many Americans, even ones who hate Trump, will support him in his attacks and attempted cons on the Chinese is all the proof the people of China will ever need that American is bent on reducing them to feudal poverty and servitude.
It's a good thing that America is powerless to make this happen, though.
1
The fact that so many Americans, even ones who hate Trump, will support him in his attacks and attempted cons on the Chinese is all the proof the people of China will ever need that American is bent on reducing them to feudal poverty and servitude.
It's a good thing that America is powerless to make this happen, though.
4
When trade negotiation is under the bright sun light, there is really no wiggle room for maneuver. Everything you do is documented and thoroughly interpreted. When Trump walked away from an agreement reached for the first time between US & China in April of last year, it sent a shivering tremble to China that Trump can change without warning and no deal is a done deal unless it is signed and dotted by all the involved parties. Trump treats trade negotiation as a real estate transaction - really no big deal and we can do it again. China treats trade negotiation as government talking to another government in serious terms - it has consequences and be serious. Since Trump played fool on China once, I doubt China will be surprised. Additional tariffs are just bluff to their ears at best.
3
Interaction with the Chinese always needs to be predicated on giving them a means to save face. Even if it's just a show, you have to give them something so their leadership can claim victory in front of its people. The Chinese are not especially braggerts but they would rather decline a compliment than have to face an insult.
Trump should be offering them a 'comprehensive deal' with concessions in order to get a bigger ask, like respect for international copyrights. Instead, he is making the Chinese negotiators look ineffective and lose face. It may work a bit but it's not a long term tactic.
4
The idea of tariffs is that it makes goods made in China expensive so folks would look for alternatives. Now, hopefully there would be other entrants in the market to offset the Chinese monopoly on manufactured consumable goods.
If there are none then that is an ominous sign of what China's intentions are... the ultimate ownership of all manufacturing assets and enslavement of consumers because they would ultimately be able to charge whatever they like as there is NO COMPETITION.
We need President Trump's style of reigning in of China and its practices. We need to look at what China is doing in third world countries by making them its slaves and client states by use of its economic power. China is not interested in developing the rest of the world. It has only one interest: to control everything by indebting countries.
The article reads: "Chinese negotiators had insisted that any concessions would need to be achieved through regulatory and administrative actions, not changes to Chinese law passed through its legislature. The provisions included the forced transfer of technology from American companies to Chinese firms, the people familiar with the negotiations said."
President Trump and the United States Congress should "hang tough" on this one. In fact, I would suggest that the United States demand reparations from the Chinese government for past "indiscretions."
2
Tariffs will make American exports cost more (they need parts from China). So the rest of the world will cut out the middleman America and go directly to the source and buy from China.
China of course will be happy to step in and fill in the production role previously assumed by the US. At much lower prices.
4
@Meg
American manufacturers buy parts from different countries. Supply chains must remain intact. If Trump's policies interrupt supply chains, there will be a big trickle down effect on vendors and consumers. A multi-bankruptcy operator is not widely trusted. He messed with soybeans, now that mid-West product is under threat.
Just two years ago, I purchased an automotive battery for about 80 dollars. Now I need another and I'm in no hurry to pay the going rate of 135 dollars for the same battery. Thanks Don Trump. I don't think you're great. You're still just a street gambler form New York, and you lost the Casino. What does that say to you or is there no feedback in your neural paths?
4
The US does need a policy of balanced trade, but tariff war is not the way to do it. The only sensible way is through currency exchange control. Grant US exporters $ credits that US importers must buy on a regulated exchange must buy before releasing equivalent $ to pay for imports. Inflow and outlflow of investment capital must also be factored into the equation. The books would then balance with no other nation singled out as an adversary.
1
International trade is complicated. It's like 4 dimensional chess. Trump is one dimensional. That's why he'll never be able to understand the intricacies behind the trade deficit, nor will he be able to bully the Chinese into submission as he does on The Apprentice.
All he has achieved is to encourage friend and foe alike to accelerate their programmes towards self reliance. Trump has actually accelerated his nation's downfall. A true patriot.
11
There is a constant refrain in some of the comments that American consumer will end up paying more if trade war goes into effect. There may be beneficial to environment if there is less of consumerism America may benefit if the money it uses the to buy Chinese goods is invested in infrastructure
3
@Azad
Congress controls the budget; so far they have not funded infrastructure. President Obama tried to get funding and failed. Trump has no interest in infrastructure unless he can make a buck. Maybe we have to wait for a major bridge or dam to fail. It will have to be big, because Trump has numbed the public to small, continuing fails.
How will the American companies who have used China as low labor cost manufacturing base fare in trade war.? American companies have benefited by using low paid workers who were stripped of rights and protections in workplace in a totalitarian state .The labor shifting practices of American companies have hurt the American blue collar workers who form the core of President Trump constituency. Will the American polity support the interest of corporate interests or American worker interests? It will be interesting to watch .
1
How will the American companies who have used China as low labor cost manufacturing base fare in trade war.? American companies have benefited by using low paid workers who were stripped of rights and protections in workplace in a totalitarian state .The labor shifting practices of American companies have hurt the American blue collar workers who form the core of President Trump constituency. Will the American polity support the interest of corporate interests or American worker interests? It will be interesting to watch .
If by interesting you mean horrific, then yes.
1
I may be naive, but let's assume more tariffs on Chinese imports. This means America will pay more for products from China including raw materials. So, the rest of the world will know it's cheaper to just go directly to the Chinese than to an American broker? Also, if it costs a lot more to produce products in American because of tariffs on raw materials like steel, doesn't that mean products from elsewhere will be less expensive by comparison? America might be big and powerful, but is there anything made in American which can't be bought elsewhere?
6
@Darren Starr
American steel is a very good product. Cheap Chinese steel is a very poor product. Our steel workers are in China training workers to make good steel.
Trade wars lead to shooting wars.
Those who ignore history are doomed to repeat it.
May we all live in interesting times.
4
The American economy is stronger than China's. We try to play by the rules, they don't. We could not have a better President showing China that the USA will not be played anymore. This is not Obama, Bush nor Clinton. The Chinese have met their match and more. Put as many tariffs as necessary , President Trump. The majority of us are backing you.
6
@samuel, the majority of us do not support Trump, and do you have any idea what tarrifs are? They barely harm the Chinese economy at all, while wreaking havoc on American consumers. It’s an awful “policy” decision that has failed over and over again throughout our history.
7
@samuel Well, actually, under this president, the United States play by the rules if they like 'em. Why would any government trust Trump?
3
Play by the rules and Trump in the same sentence? Trump's whole shtick is that he didn't play by the rules and was disruptive. That's why they loved him. That's why they voted for him. Precisely not to follow the rules. And for America to follow his lead.
Simply more having it both ways when it suits them for the right wing that changes its spots as expedience requires.
Trump's new rules are to say it is OK to have no rules so long as people are profiting from it.
4
The present and threatened Tariffs are NOT on China. They are taxes on Chinese imports that we Americans pay and our money goes to the U.S. Treasury in a corrupt move to offset the big deficit Trump and his Congressional cohorts created with the 2017 Tax reform legislation that went mostly to wealthy individuals and Corporations.
We The People are being threatened by Trump and his Tariffs.
6
This concept is too difficult for the minions to grasp . They will gleefully follow
The orange one over the cliff.
2
Reality Check china not forcing usa to purchase imports .USA freely gave away millions jobs payed living wage. All began with NAFTA first went texile industry to china. Then manufactoring went to china. Then went computor industry al which where created in usa. Get the drift tariffs just smoke screen to distract people from reality . We are own worse enemy an now we dont even have know how to build are own waste. There is hope all we have to do as nation is turn off computors. Stop purchasing imports unless absolutly nessary so save persons life. Only then will jobs return pay living wage an china will be alot better off with out are waste.
2
This has as much to do with trade as Trumps threats towards Iran has to do with security.
He is being cornered by the Muller, Barr and obstruction scandals and will now do anything to have us take our eyes off the ball.
7
The U.S. should be tough with China, but Trump's ignorance of diplomatic norms is breathtaking. Not sure if it's some brilliant strategy from "The Art of the Deal," but hard to imagine openly threatening China via Twitter will somehow force concessions.
Among the minions of incompetent aides that Trump surrounds himself with there must be somebody who can tell him that face is key for the Chinese, and that it's impossible that a deal would be signed at the cost of a loss of face on the part of China.
But then again, at the end of the day it wouldn't matter if someone did tell Trump, because he'd do what he wanted anyway, given that he knows more than everyone else. Don't forget, he's got his "gut" to tell him the right thing to do.
4
I forget: how much does trump owe China now? Wasn’t it $600 mil?
5
Guess his “advisors” haven’t told him yet that it’s businesses and individuals in this Country that end up paying the tariffs. All that money he brags about going into the Treasury is coming from us .. not China. The only way they hurt China is that the tariffs make Chinese products more expensive and less competitive.....while we pay up the ying yang. (hint: those aren’t Chinese words)
6
Big talk, huge promises, and NO RESULTS from the Donald Trump administration, as usual.
The latest news is that Donnie has doubled down on raising tariffs on Friday.
Are we winning yet?
4
Has anyone bothered to explain to Trump (and his acolytes and enablers) that "tariffs" are taxes paid by Americans? Not the Chinese!! Reagan must be spinning right now.
7
My experience with Chinese goods, recently:
One quilted vest with armholes gaping at the back; I had to take out my sewing machine and "fix it" so I could wear it, at least to work in the garden. ("Chinese tailoring" at its best.)
Two dozens of women's handkerchieves, from three different Amazon suppliers, all made in China: hems not straight, corners unfinished, threads sticking out. (If you want well-made women's handkerchieves, buy them from Europe.)
I do not like President Trump, but I do not really care if the price of Chinese goods rises by 25 percent or more. I am not buying anyhow.
4
Just remember, those tariffs are taxes that have to be paid... by us!
5
He was angered.
That’s how we do stuff now: a petulant child gets angry.
9
Is this supposed to be a negotiation tactic? Normally one wants a negotiation partner and not an adversary especially one that could stop supplying the US with much needed basic parts, rare earth elements, and Treasury Debt purchases. If China cuts us off or no longer is willing to invest in the US do we have a backup plan which doesn't include bankruptcy.
3
How do we know that Trump and clan aren't benefitting from his market shaking announcements by short sales of affected stocks? He personally causes market swings with his tweets.
3
The tariffs are paid by Americans, not the Chinese. This is a tax increase. It should be reported as such.
7
I would be very happy to consume less and buy products made in America, even if they were more expensive.
5
Is there a day that goes by without Trump causing some sort of chaos or malicious maneuver in government or against a group/class of people? He has to be the most most-spirited public figure in American history. And the most criminal ever to reside in the oval office.
3
Trump is finding out that when it comes to making deals, China has had the upper hand for years, ever since the West was hypnotized by the promise of billions of new consumers, snd the now proven false notion that capitalism will inevitably lead to more democracy.
It’s rather late now that the horse has left the barn, and most of all, Trump is so transparently the one most eager to make a deal, just as he did with North Korea.
When your cards aren’t that strong, and you don’t know how to bluff, it’s hard to win against the masters of the Art of War - who know precisely how to turn your weakness into their strength. Consider how rich and powerful they’ve become without so much as making financial commitments or military threats towards the West.
3
Anybody who has visited virtually anywhere in Asia in the last twenty years knows that the future is there, not the US. The US is a waning empire, and Trumpublican actions just serve to accelerate and further diminish whatever role it may play in the future.
5
The Chinese can afford to take the long view, because price increases and shortages of parts and materials are sooner or later going to hurt US industries located in the areas that voted most heavily for Trump. 4 years is a lifetime as a US president, but it is nothing to the CCCP.
8
It is interesting that we never hear what China thinks of us and whether or not we are a fair trading partner.
2
The self-proclaimed master of the deal is proving once again he knows little about how to deal. He had been unable to reach agreements with China, Korean, and Iran - the big deals.
I guess no one told him that deals are about finding common ground for win/win solutions not trying to bully others into submission.
Now he mistakenly believes that his trade and economic policies are making our country strong, when just the opposite is happening.
GDP growth is up - no surprise when you have low interest rates driving expansionary monetary policy and a huge tax cut for the rich contributing to strong fiscal stimulus. But how long can it last?
We have structural problems that otherwise retard growth. We can only keep demand growing by maxing out monetary and fiscal policy. We have no tools left to use if some disruption upsets the apple cart.
The FED just issued its twice a year Report on Financial Stability and it identified several risk areas - most notably high asset prices and risky corporate debt. It did not mention the structural problems affecting demand or how we are maxed out on monetary and fiscal policy.
It did not mention the huge Federal deficit, now over $21 trillion, and now growing at over $1 trillion per year. A simple 3% increase in interest rates - certainly a possibility since current rates are near historical lows - would further increase Federal spending and annual deficits by more than $600 billion per year.
4
Why doesn't Trump just come out and admit the truth??
He capitulated on Healthcare and had to admit that, "He didn't realize healthcare could be that complicated."
What makes anyone think he has a clue on how to secure a fair Trade Agreement that doesn't send the global economy spiraling?
3
The President smells blood.
Cramer called China a paper tiger today.
I never underestimate Trump. He has a knack for landing on his feet.
Sic ‘em Donny. !
More like his head.
Six bankruptcies.
Gee, what’s that like, applied to a nation?
By the way...you get that in the event this seems to work temporarily, you won’t be invited into the limo, yes? And that your kids certainly won’t be, right?
2
@New World
Cramer, the T.V. loudmouth whose opinions are worth as much as Moore's, exactly zip.
Again, TPP (Trans-Pacific Partnership) would have resolved a host of these issues had the US not withdrew from the agreement. TPP would have imposed a de facto new set of commercial and trade rules all across the Asia Pacific region. TPP included specific language in regards to some of the central concerns of the current trade feud such as intellectual property.
Join TPP, or rather its current iteration CPTPP, and a host of these trade grievances with the PRC will be resolved. Because as long as China becomes less market competitive due to its lower standards of trade it will suffer.
Or rather, what about the WTO? The World Trade Organization was originally created to resolve trade disputes. It is an internationally recognized third party negotiator that both two countries are signatory to.
These shuttle diplomacy/negotiations conducted in the designated 90 day halt has evidently not produced a finalized deal that both sides can agree upon. Whether this is because the Chinese government has been more duplicitous, or the gross incompetence on the part of the American government, or a combination of both, it is clear that this trade dispute has not come remotely closer to an end than it was when it started over a year ago.
Multilateral trade agreements is the future, or more accurately the present. It is time for the American public to wake up and smell the Canadian bacon being sold at lower prices across the Asia Pacific. It is time to re-enter TPP.
7
Yeah, but that was something a black guy worked on.
And that St. bernie rejected because his views resemble Trump’s.
And that Hillary rejected, to her shame, because she knew better but thought it’d help elect her.
1
This is completely ridiculous. All this does is hurt American consumers. It’s another tax on the lower and middle class. This “president” has got to go.
8
Trump won't go through with it. He'll pull back at the last minute, just like before. And the time before that. Let's stop falling for the antics of this sick drama queen.
14
It's all about if the merchandise has an alternative supplying country. Unfortunately, for most imports to the US, China is the only manufacturing country especially in sectors like components, electronics, rare-earth, and machinery, etc. More importantly these sectors are critical parts of the supply chain in almost every industry. For cheap merchandise, Chinese government already wanted to get rid of them to upgrade its manufacturing level from low-end to upper stream. In other word, this trade war is helping the Chinese government to upgrade its manufacturing industry to a more matured, high-end level. China may feel pain for the short term, but will have tremendous benefits in the long-run.
6
The big concern is about the secondary effect of a declared Tariff War. Big Banks and Corporations have enough cash to counteract the growing costs that, furthermore will be tamed and recovered at the expenses of consumers. Workers will suffer later the unfailingly labor cuts due to robots taking their place, not necessarily the fault of Chinese low paid workers. Ultimately it remains to be seen who'll be the hardiest and swiftest to adapt to the new global conditions, either climatic or just the unstoppable rising new intertwined industrial era. Tariffs are waning elsewhere under new treaties and common markets rules (TPP, Canada - Japan - India/Europe agreements, New Silk Road, etc).
2
The balance of power has shifted and it's not going to shift back to the previous arrangement anytime soon. China, unlike the US, isn't interested (at least at this point) in world domination, but it absolutely *does* want regional superiority and has no intention of letting the US continue to challenge it in the Asia-Pacific theater. It is more than powerful enough, now, to get what it wants there and the US is not capable of stopping it.
Americans have grown used to the notion that we have an inalienable right to dictate terms to the rest of the planet. That only worked when the US was an unchallengeable power. That's no longer the case.
We should learn to share and play well with others. The alternatives are sure to be very unpleasant.
4
Perhaps we should conduct an informal survey.
Higher tariffs mean higher costs for consumers. How many taxpayers are ready to pay more for products? I know they are paying more for gasoline, not seeing much benefit from the Trump tax cut and the nation's debt is exploding but still....
Middle and low income families should be excited to sacrifice for Dear Leader, right? If they aren't, then perhaps they aren't real Americans.
6
I certainly don't understand how there is no price to pay for incurring a trade deficit of half-a-trillion dollars with China year after year, even after reading Paul Krugman's columns assiduously. The only way I can see bringing the trade deficit down is to raise the tariff on Chinese goods so we don't order as much from Amazon or Walmart. Whatever else, I hope Mr. Trump does not just claim victory while giving the shop away.
8
Good for him. This was an enormous omission by previous leaders.
7
More Trump Theatre. And likely we’re falling for the bait. He has no foreign or trade policy structure (that would take thought, commitment and experience), so he’s winging this like everything else, for maximum air time and clicks. He’ll agree to whatever at end of this summit and declare global peace accord, the biggest in history — saving us from the prolonged trade war (that he created).
The best thing the Times and other media folks could do at this point is take away Trump’s non stop endless stage. We’re just fueling the theatrics.
9
Flaunting one's ignorance on Twitter (e.g., China has been paying Tariffs to the USA ...) must be a new surrealism art of the deal.
6
Contrary to some of the posts here, the problem with Trump's approach on trade is not so much his goals, but his scatterbrained, random methods. Confronting China is a good idea - but first, we needed to complete agreements with other trading powers so that we would have allies and any slack in exports would be picked up by them, e.g. with Japan, the EU, and Mexico.
Obama created the Trans Pacific Partnership so that the U.S. could, one day, strategically confront China as part of a gigantic trading bloc. Trump pulled out of the TPP and claimed that he would do bilateral deals instead. He hasn't. What has happened is that Japan has joined the TPP, and now has lower tariffs for Australian, Canadian and New Zealand farm products than U.S. farm products. Japan and the EU made a trade deal, and substantially lowered tariffs on each others goods, while they maintain their tariffs on our goods. Many other countries have retaliatory tariffs on U.S. goods because of Trump's punitive tariffs. Excess U.S. products could have been sold to these countries, but, instead, exporters are losing markets in many places at once. And now we have no allies willing to join us in squeezing China.
19
@NYC299
"but first, we needed to complete agreements with other trading powers so that we would have allies and any slack in exports would be picked up by them, e.g. with Japan, the EU, and Mexico."
I'm not sure you've spotted your error, there.
Do we want their cheap knockoffs or don't we?
3
Americans are the ones paying Trump's Tariffs. Americans are paying higher prices, and American farmers are losing sales, and American workers are losing jobs as companies can't afford higher-priced China-sourced parts and raw materials.
Only Trump thinks his tariffs are helping Americans... in reality, Trump's Tariffs are -costing- Americans - costing money, costing sales, costing jobs. Trump's Tariffs are the move of a loser who doesn't understand who pays when he plays tariff bully. How much pain will Trump cause Americans, just to look tough to China? And how much longer before China calls in some of our debt... or stops buying more? Rising interest rates are where that goes, and the recession will be close behind.
Trump and his tariffs is like giving a small child gasoline and a lighter and telling them "go play"... are there any adults in the room?
8
I like it. I am telling you, if this guy arm twists the fed into getting monetary policy right, and then arm twists the Chinese into not taking advantage of the US, the democratic pack will begin to look more and more like jokers, with all their talk of free this and free that and nothing else.
I'd like to pick my country as the leader of the world, thank you. I liked that idea when I was a (non-American) kid, and I like it today as an American. Yeah we want a more egalitarian world. Let's get to that after global warming.
3
China has modernized at our expense; now turnabout is fair play. Despite media bias Trump knows exactly what he is doing for the good of the country. We seem to be living in a country of media blinded by Trumps faults and unappreciative if his strengths. Media has strengths as well but is blinded by elitism.
5
I live in a high rise in Brooklyn, overlooking the harbor. I can see the container ships of COSCO and other Asian shipping lines arriving daily with containers piled high, heading for Target, Walmart and other mass market stores. All the Chinese have to do is to turn them around and order them to go home, and the shelves will be empty here. Perhaps they should try that. China will survive somehow, but the American consumer will be brought to their knees.
2
I don't know that there is an alternative to China. One reason that setting up shop in China was so successful is because of the ease of pulling together resources to do manufacturing there, land, labor, capital, and entrepreneurship. Also, the government encouraged the localities to participate in the sourcing of production there.
Think about other countries that could do the job. In Asia, Japan, Korea and Taiwan are more expensive than China, and the other countries just don't have all the elements. Bangladesh, India? No thanks. The Middle East, no thanks. Turkey maybe. Certainly no one in Western Europe. Maybe in the old communist block and Russia. But those areas a fraught with problems, too. Scandinavia, never.
Quite frankly, I don't see many manufacturers moving out China if they have already made a substantial capital investment.
And now the Chinese economy is so sophisticated it can run on demand for goods & services produced locally, even in the high tech areas of aerospace, medicine, and electronics. And now that Boeing has stumbled, the Chinese can begin on a better midsize commercial jet beginning right from scratch, which is where Boeing is, square one.
8
" reneging on previous commitments" you mean like signing an agreement to pay North Korea $2 million and then not doing it?
5
Trump who is wrong about everything might be right about China.
Now is the time to settle this problem. It's probably the last opportunity.
3
he talks tough but never follows through and the fact that the market recovered after futures indicated market would be down 500 points tells me all I need to know.
2
@Greg Jones
I think you are confusing Trump with former President Line in the Sand.
I’m going to have to do some research because I don’t see how a reduction in imports increases GDP. Balance of trade I get, we’re netting imports and exports. But I didn’t realize that with GROSS in the name that GDP contained any netted data. That’s just MY ignorance.
Without regard to that, who besides Trump doesn’t understand that tariffs just increase the landed cost of the goods and flow directly to the consumer? All they’ve done is make things cost more and wreck the Chinese export market for US farmers.
10
@Steve B Imports don't impact GDP because every import ends up as part of consumer spending, business investment or inventories. Higher exports do increase GDP.
Trump's tariffs are simply taxes on consumers and businesses. And Republicans used to dislike higher taxes.
2
@Steve B - Who besides Trump? His base who believe his lies, that's who. No matter they pay more at WalMart - he tells them we're getting all this tariff revenue and they're good. Family farms going broke? Farmers have publicly stated they're good with this if in the long run there is "benefit" to the us. So, kick me once and kick me again. It's all MAGA.
2
I work with china a lot. It's been a boon for us Canadians and the Europeans to be able to fill the void left in China by American companies (even if our prime minister is not helping right now with the Huawei mess). We used to compete with American companies all the time for Chinese market share and lucrative contracts. No more! Americans have vanished, I even have seen a resurgence of Russians, that were completely absent just a few month ago. Thanks Trump! What is sad is that Americans will never get that market back, the Chinese are very angry and hurt by what they perceive as treachery and backstabbing and I don't think, given their long memory, it will be easy at all to win them back. The population sentiment against America is very strong right now and if those tariffs are enacted it will become insurmountable. Trump is playing with fire, yes, China will be hurt but the US will get hurt way more, just think if the Chinese government will stop giving exit visas for students to study in the US, among other things....the only hope America has is if Beijing will decide to wait till 2020 instead of going full bore against the US.
18
Don’t confuse your small short term gain for sustainable long term agreement.
I think the US has it right on this issue.
As a Canadian, do you like the way China is throwing their weight around? I don’t.
There are a lot of things better than money. One of them is freedom.
4
@ale biglio - I honestly believe China is hoping to outwait Trump. That's why the backtracking to "regs" on what our negotiators had believed was to be implemented by changing their laws. If, as you state, others are taking our place, the longer this continues, the more long-lasting damage to the US.
3
@Angelo C. Talking about throwing your weight around. How about declaring Canada a national security threat to give trump an excuse to impose tariffs on Canadian aluminum and steel? And all the freedoms I enjoy today are not dependent on what Trump does with China.
4
I do not hear to much complaining by big business as they move production to Vietnam and Mexico. Do you?
12
.. It's clear that Trump's 'negotiating' style is ineffective.. it's failed with Congress, failed with N. Korea, & it's failing with China..
.. it's seems Trump handles American national policy without any clear plan or objective..bouncing erratically from one outburst to the next..
--.. Meanwhile he wastes his time sending out insults on Twitter like a blind man swinging at a piñata..
13
The Trump strategy for bringing China to heel: Hit 'em where we hurt.
10
China's trade deficit with the US breached $100 billion since 1992 and stood at $419 billion in 2018 according to https://www.census.gov/foreign-trade/balance/c5700.html.
So 27 years of trade reality isn't going to change because of a few tweets.
Also history weighs heavily on China's psyche in approaching trade. The 2007 mortgage meltdown and the 1997 Asian financial crisis are only fresh reminders that the US is not a trustworthy financial actor. It one generalizes that to the entire West, then this sordid history stretches back to the opium trade and wars with the UK.
6
why just China? How about Vietnam where a lot of manufacturing has moved
1
Good idea to get tough with China. Our tech transfer regime is terrified of how China operates and we do so little to defend ourselves. What's stupid is thinking that tariffs are paid by China. Tariffs are paid by our consumers, or we don't purchase those goods. Fine and dandy, except for industries where it would take 20 years to build them back in the US, and even then, it would be with significant automation in place of jobs.
2
Does Trump understand that consumers are the ones paying these tariffs, not the Chinese? I don't think so, the man isn't playing with a full deck.
13
He understands. He also understands that his base are not able to make the connection.
19
I hate - despise - the charlatan-in chief and I'm an admirer of China BUT I've seen China grow from a country that could barely feed it's citizens in the early 90s to one modernizing dynamically in the early 2000s to a global powerhouse that enriches it's citizens, modernizes it's infrastructure beyond belief and overtaken America on practically every level that defines a superpower. Much credit goes to the Chinese themselves as they've showed the world their tenacity and dynamism BUT I DO think we've allowed China (and other countries) far too much easy access to our markets at great cost to our industrial base. There's no reason that products made by American companies should be allowed to move their manufacturing to China and import them back here in many cases with laughably low tariffs. Clearly America isn't a country at the beginning of industrialization, so the fact that we're not competitive in textiles and garment manufacturing or even food products is one thing. Quite another is importing what we SHOULD make at home such as iPhones, heavy machinery, computers, microprocessors and other hi-tech items that we've lost to China and others. I'm not going to say that Trump is rectifying the imbalance in the right way or even for the right motives but I do think that we have allowed an imbalance to go unchecked with China and Europe for far too long, which has fueled much of the anger we see in today's electorate as demonstrated by our protectionist voting patterns.
7
@ManhattanWilliam
"There's no reason that products made by American companies should be allowed to move their manufacturing to China and import them back here in many cases with laughably low tariffs."
Do you think President Trump would be able to reverse the concept of globalisation?
Serious question...
2
I'm assuming the market manipulator executed some short sales on stocks that would be affected by this latest tirade and will buy back into them before the week is out. Then, he will announce that the U.S. and China are "very close to a deal," at which time his shares will soar in value and he can cash out. Meanwhile, nothing substative will have changed in the talks, no tariffs will have been imposed, but he and his insiders will have added to their ill-gotten wealth through this absurdly transparent market manipulation.
16
Tariffs are nothing better than a regressive tax on lower and middle income Americans. Do Trump's supporters think the Chinese will pay these tariffs?
13
One of the (very) few things I support in the Trump administration. China has been stealing US tech for decades. It is about time we do something about it.
Also, for all the people that say tariffs are bad are so bad for the US economy, then why have the Chinese been putting tariffs on american cars for the last few decades?
2
Ask the soybean farmers that question. I’m sure they have lots of answers about the effect of tariffs. Warning...there may be a few swear words in their answers.
3
If these tariffs represent direct payments from "China" to the US Treasury, as Trump claims, and are contributing to GDP, as Mnuchin claims, why are we in negotiations that would result in their removal? If this is so good for the economy, why not double or treble them?
10
A couple of things:
1) A tariff is only effective if the US produces the item affected or can quickly source the item from another source. What good does it do to add a price increase of 25% to, say, solar cells, when the Chinese are the only producers? The Chinese are looking to Brazil and other Latin America countries for soy beans - when the tariffs are reduced, the American farmers may be out of luck with the Chinese market. Forever. (Good bye rain forest...)
2) With potentially $750B under a tariff of 25% - the potential tax revenue is almost $200B - paid for by American consumers. Let's see - the most recent tax cut is approximately - hmmm - $200B. And, under the original Paul Ryan (etc...) tax plan, the R's wanted to add a general purpose tariff on all imports, while somehow rewarding those companies which exported. Coincidence? (The R's only support sales (ie - consumption) taxes, since the rich aren't effected by them - it's always someone else.
9
Every day, the US is proving itself to be the most dangerous and untrustworthy country in the world. Trump's decision to weaponize the US economy in this way and exploit the vulnerabilities of other states that bought into the US promotion of free trade will have consequences far beyond this. The US decline is inevitable and China will not forget what the US is trying to do to it. If the new Cold War starts here because the US has decided to try to cripple China with an all-out attack on its economy, the Americans have only themselves to blame. For myself, I remember that this American thuggery extends far beyond China. The attack on all of the US' trading partners is ongoing and a dire warning to the rest of the world on how dangerous and unreliable the US actually is.
22
@Shaun Narine
A phrase oft heard over here is that the USA is now a 'rogue state'.
As someone born in the 1950s, it's really shocking to hear that said of America.
But, even more shocking to find that you believe it.
3
His ill-considered actions actually hurt US consumers more than they do Chinese manufacturers.
8
This guy is too unpredictable, a loose cannon on deck of a ship tossed at sea. I'm thinking that he alienated negotiators last week, with insults or strange demands, bumping his trade "deal" overboard. He's now covering his great deal-making errors by making a truly idle threat so that he can claim, on Friday, that China backed out of a great deal he had made for them. Then he can continue to raise taxes on those who can't afford them, by claiming that we're collecting tariff money from China. It's as simple and magical as trickle-down economics.
4
The pro's and con's of tariffs
1. High wage islands , like the US, in world wide sea of
cheap labour, can not endure in a free trade global
economy
2. This has been accepted and practiced for nearly a
century in agricultural goods. US tariff and quotas on
imports of agricultural products cover 3 000 + items
3. Yes, it does make the corn base ethanol that
goes into your SUV more expensive. Cheaper to
get it from Brazil
On the other hand tariffs allows thousands of farms in
the US to grow corn
4. I.e. there is NO free trade in agricultural goods. Rather
there is a net work of bi-lateral treaties that by and large
minimizes friction, occasional flare ups over 200% +
dairy taxes by Canada not withstanding
5. Since 1964 1964, the US has protected domestic
production of pick ups and large SUV with a 25% import
tariff. Most Americans are unaware of it.
6. Want cheaper trucks ?
Eliminate the 25% tariffs and GM and Ford
(who already moved passenger car production to China)
will move pick up production to China
On the plus side you might get cheaper pickups made
in China.
(Might 'cause the prize of the Cruze or the Focus did not
fall when GM and Ford moved production to China).
On the negative side, domestic Automotive industry with
its jobs will be gone.
5
The headline should read "Trump ready to punish American consumers on Friday".
Chinese companies and merchants are not paying the tariff. American companies and consumers are.
23
@Tom
Then why are the Chinese negotiators insisting that the tariffs be removed? It's no skin off their nose.
1
@Ian Maitland
...because they push up prices and thereby make imported goods less competitive. That's why they're called import tariffs.
2
Looked into buying a washer dryer or air conditioner lately? Prices have skyrocketed. Tariff man is taxing.... us.
A better route toward constraining China might just have been participating in the TPP in concert with China's neighbors and trading partners. Instead, he chooses to bluster, using us as cannon fodder.
He thinks he can bully a superpower like he did his tenants. Make deals by asking for the moon and settling for a little less. Bluff his way through, minus any preparation or strategy, as usual. He is sorely mistaken, and it costs all of us.
29
@Ben K
I supported TPP, Paul Krugman, Trump and most Democrats opposed it, but TPP was never going to change China's behavior, and you offer no explanation of how it would have. Enough said.
@Ian Maitland
Even the Japanese govt was on board w/TPP, something that no one would have thought possible. Then Trump undermined what he didn't understand, and things here stayed much the same as always - economically moribund.
1
We need to be clear that what Trump is doing violates the Constitution which grants Congress to power to “to lay and collect taxes, duties, Imposts and Excises..." Why the Democratically controlled House has let this go on is shameful given that it only strengthens the "imperial presidency" of Donald Trump. For a man who has scoffed at the "emoluments clause," been named as an unindicted co-conspirator in a felony to commit election fraud, and has been credibly accused of obstruction of justice and continues to thwart Congress in ignoring its sub poenas, it is an outrage. Will anyone rein this autocrat in?
8
@Paul Wortman
Not if they are smart enough to figure that "reining him in" will just make him stronger.
You know what happens when well-meaning people try to stage a coup d'etat (for the best reasons of course)? Well, I'll tell you in one word: Erdogan.
As Machiavelli warned the prince, "If an injury has to be done to a man it should be so severe that his vengeance need not be feared.” Neither the Senate nor the public favors impeachment.
When the Chinese delegation gets to Washington, they’ll show Trump his tax returns.
Miraculously, an agreement will be reached.
4
Well, the stock market certainly did not trust the "great bloviator" today. It was akin to a dumpster fire with an accelerant. We can go 'round and 'round with China and Lord knows we have helped to build their upgraded military forces and infrastructure, but the American public wants cheap goods and China makes them. On the other hand we don't have much to offer them but technology and we certainly don't want to sell that to them. Forcing them to buy high cost American products in exchange for the imports of the cheap good America craves is just not working out very well. If it isn't China, it's India, or Pakistan or any of a number of other cheap labor countries which have the manpower and facilities to make those inexpensive products America craves. In the end, Trump is hurting low income Wal-Mart and Target folks more than he's hurting the Chinese and many of those folks voted for him......meanwhile with a dropping stock market, he's hurting the rich folks who voted for him.
6
@Bill
The stock market yawned.
2
To Mari
Left Coast3h ago who writes
What Trump’s supporters don’t realize or refuse to believe, is that those tariffs imposed on China, will be PAID by Americans!
Mari:
You are not paying attention to what the NY Times wrote: Chinese suppliers are already offering to offset all or part of the tariffs with lower prices.
They have to. Vietnam will be very, very happy to take over in supplying goods to America.
4
I'd feel a lot better about this if I had any confidence that Trump actually knows what a tariff is.
13
All I know is that "tariff" is another word for "tax". The people of China will not pay this tariff. American corporations will not pay this tax. The Americans who buy the imported products will pay the tax. That's you and mm and every other consumer in this country. In addition, as imported goods get more expensive to buy, American manufacturers will begin to charge more because they can. They already are. Getting tough with China may be a good thing, but Trump and his rich buddies aren't going to pay for it. You are. I am. It is a tax.
11
@Patrick Stevens
I would buy a similar imported product from Vietnam with no tariff then the one from China with a tariff.
The ideas here is to punish China for IP theft.
Companies are smart enough to find other low wage countries.
Has Trump ever made money in any other way than money laundering?
10
@Agnate
..shortchanging and exploiting his employees, underpaying "illegal" foreign labor, tax fraud, chiseling subcontractors, violating the emoluments clause, defaulting on loans, claiming tax credits illegally, selling real estate to russian mobsters...
2
I have no way of proving this but you can't tell me Trump and/or his family didn't short the market prior to announcing this. Otherwise, no matter how you look at it, this is not in his interest.
8
@ubius
Exactly
The problem is we can't believe anything this administration says. I honestly wonder if they aren't fiddling with the unemployment rate as well. When the news is too good to be true, it is too good to be true.
17
I don't know too many people in the western world who don't think China is a major problem. Trade is just one facet of this problem. So we might as well start here. Enough said.
4
What will Ivanka do? Isn't her horrible clothing line made in China?
13
@Say what
We buy store returns and dead inventory by the pound.
We don’t get to choose this or that. It’s all mixed together.
Men’s, ladie’s, children’s clothing and shoes come in.
We grade it out and sell it overseas.
We’ve got 120,000 pounds of Ivanka’s line in storage containers which we can’t sell.
Just sayin’.
China is still an export dependent economy and doesn’t possess leading technologies. It is now the last chance to force China to change its mercantilist ways and play by the rules before it’s too late.
6
There is going to be a lot to fix in this country when we get rid of this guy, that's for sure.
14
Thank you to Warren Buffet for his public, thoughtful statements about all this in today's online national news. We are economic partners with China for the benefit of both countries in creating wealth and a higher quality of lives for people in both countries.
For Trump the world's stage is like the pro wrestling's main event. Someone always has to be the bad guy to his good guy. Even the Chinese have likely never seen this level of cult of personality. For Trump it's a personal thing of his. It's an internal flaw.
China, Cuba, Canada, Mexico, Puerto Rico and all of the Americas represent opportunities. An American President from either party who puts the world in reverse gear is bad business, and the longer this charade is played out the less patience others abroad are going to have. Down the road that will create unforeseen, bad outcomes for the United States. You only have a strong military because you have a strong economy from trade and friendships in the world. Everyone knows Trump's game and others are being patient and resilient, but really it's been going on long enough now hasn't it.
If you want to lay blame on wages and jobs then put the blame where it belongs. Progress, tech and automation. The Chinese face those same challenges too with a lot more people to feed.
Trump's family has been farming Chinese labor to make ties and women's shoes and fashion going back a few years. For them to take this position with China is bad form.
16
I’m sorry, I don’t believe it. It’s all bluster... what the Texans call “all hat and no cattle”. I’m sure the Chinese have something even more appropriate
11
One of the very few areas where I tend to agree with the idiot in the WH. We have been way too soft on China for way too long. They love to cheat and to create an uneven playing field as long as other countries allow it. Previous administrations have been way too soft in dealing with this major economic and fairness issue...but no more. While I don't know if tactically I would have put tariffs back up so soon, if reports are correct that China was trying to 'retrade' some elements that had already been negotiated, then slapping tariffs back on would seem to be an appropriate response to try to bring China back to trying to getting a deal done. I hope one does get done, it would be a major economic victory for our country. But if we are soft, clearly the Chinese are only too happy to continue to walk all over us.
4
'Course he will. China doesn't own him-Russia does.
5
Although I don't like big swings like what we have today, I do agree with Trump, for a change. You can't deal with China in a "rational" way, and you can't effectively negotiate without a sufficiently big enough stick in your hand and be willing to wield it in order to stand your ground. China has bet on the fact that US will retreat when US voters "suffer" enough. Well, guess what, US voters (even those who dislike Trump in so many ways, like myself) do agree with Trump. Inflation in US is still low, and US economy is strong. Trump still has much ammunition to stand its ground. Let's see how much pain China can endure before it bends.
8
I would be surprised if China backs down. The "art of the deal" apparently did not work well in Trump's past business transactions judging from his many bankruptcies, debts, and shady practices; and it is certainly not going to be accepted by Xi Jinping whose predecessors were masterful in deceit. Look around us. Almost everything we own has a label reading, "Made in China." I would venture to say that the same holds true in other world democracies. Trump supporters probably believe that this present gesture of sorts, i.e., a trade deal, is for the the every day American. Let us not fool ourselves. It is all for this "president's" fellow wealthy industrialists. Wall Street's mercurial reactions tell that story all too well. Maybe something good will come of this, but recent history tells me not to hold my breath.
5
I don't agree with Trump on other issues but I do agree with him on problems we have with China on trade. In fact, I don't think he goes far enough. I want to see him take even tougher stand than he does now. Other presidents have regrettably failed to act and that has to stop. Now is the time to do it.
9
.. angered by China’s attempts to renege on previous commitments
The US should NOT help China's growth any furthers. China's neighbors had it with China throwing its weight.
All, from Vietnam, to the Philippines to Japan, to Australia had it with the PRC Navy building up armed islands in the South China See
Even Macron in France is irritated.
"China says navy warned off French warship in Taiwan Strait"
https://www.france24.com/en/20190425-china-says-navy-warned-off-french-warship-taiwan-strait
Enough is enough. NO more economic help to China
8
The US negotiators had a deal in principle and then China reneged on it. Tech transfer is a big part of what is being negotiated. taking that off teht abel is a bg deal not a small deal. It is a deal-breaker. Trump is right to get angry and to threaten to take action. There are no take-backs in negotiating. Of course, until you have a full deal and sign it, you have no deal. But once an issue has been bargained and put behind them it does not make sense for China to take if off that table and say 'no can do' unless they mean to cause mischief.
I think this is fine - China exports we import. If China does not get to sell us stuff and export. It's people get less production and less employment and less income. The Chinese economy gets weaker. Americans can choose to pay higher prices because of tariffs or shift and buy something else. If Americans buy something else, China will feel the pain. No doubt that being the exporter puts China at greater risk. They will realize that soon enough.
7
China will still sell us stuff, well just play more for it. look around your house everything is made in China. do you think that's going to stop this Friday? no, you'll just pay more.
5
"China takes Trump's stance seriously, because he will make good on his words, if necessary."
What do you mean, "if necessary"?
And where do you get the idea that China takes Trump seriously. Why should they? Trump seems to think that just because he shows up, nations will cave to his random demands.
8
We've needed improvements in our trade relationship with China for years. Of the considerations, economists tell us that trade imbalances really should be the least of our worries. Intellectual property rights, exchange rates, and access to Chinese markets are more important.
As for tariffs, while to some degree they are absorbed by the Chinese, much more will be passed through to the American consumer in the form of what is basically a sales tax which, like a Value Added Tax, is hidden in the price of the (more expensive) product. NPR reported this morning that Mr. Trump's new tariffs would add $500 dollars a year to the expenses of a family of four. Will voters willingly absorb that?
Does Mr. Trump have the requisite negotiating skills, and will he be guided by seasoned professionals in his dealings with China? We'll see.
4
Go for it!
God bless America
2
"...the president and his advisers interpreted the figures as evidence that his tariffs are reducing the trade deficit and boosting growth."
Its not clear what figures they are "interpreting". Goods exports from the US to China in Jan 2017 were $9.96 billion. By Jan 2019, exports of goods to China dropped to $7.13, a drop of 28%. The trade deficit has increased with China by 10% in the same period. Things improved somewhat in Feb 2019 but far from offsetting a 28% drop.
https://www.census.gov/foreign-trade/balance/c5700.html
The two sectors most clearly associated with the Trump trade war are manufacturing and agriculture. Both have been weak spots in an otherwise strong economy led by business and professional services, construction and consumer spending, which is growing imports.
And what is driving that is the $1 trillion US budget deficit created by the sugar donut of Trump tax cuts.
As long as the Trump team thinks they are winning with tariffs, there will be no trade deal. Raising tariffs from 10% to 25% will have a much greater impact on US consumer prices, as the 10% tariffs were basically offset by weakening Chinese currency. Steel tariffs are harming US manufacturers and if sustained will cause more companies to follow Harley Davidson, GM, Ford and others to move some US production to remain competitive.
10
@Look Ahead I wish you could explain trade tariffs to Mr. Trump as well as you did here.
1
In Trump’s defense, he can always plead insanity.
9
Really now, one basic question--do you believe anything this administration says?
What can negotiation be like with a compulsive liar who insists that they are the only right one and must appear to be the winner of any negotiation? I would guess extreme flattery and sly promises work pretty well.
Do you think that China is reneging, or is the Trump team finally getting to the point of trying to read the actual agreement that had been developed to this point? Is this a reprise of NAFTA-2--the rebirth of a mouse?
2
Trump is prepared to do anything he can think of to distract folks from the Constitutional crisis he has engendered to try to keep his crimes from coming to light.
7
I do have a feeling that this tempest serves his purpose as distraction from the latest string of bad news to Trump, even though I do agree with Trump's decisions to hit China if China decides to reneg and backpedal, thinking that US will retreat too.
1
Why hasn’t the US government acted before to pressure China with tariffs or other sanctions? What has been reported tells us one US company after another decided they’d prefer to have Chinese companies do everything the president has accused them, as they didn’t want to risk access to the rapidly expanding Chinese consumer market. The lone exception that I’ve read about is Google.
Ford Motor Company reported that they had paid an additional $1.0 billion in tariffs since the US imposed new tariffs on imported steel and aluminum and other goods. The increase in domestic steel and aluminum prices cost them more than $500 million. Have we seen the return of large numbers of manufacturing jobs to help ordinary Americans earn a living wage. No!
General Motors is closing two US assembly plants and opening another one in Mexico.
The president pulled out of the TPP, which opened up many Asian countries to American goods and services, seemingly because it was negotiated by the Obama administration; not him.
We’ve heard about NAFTA 2.0 but the US Senate hasn’t held any hearings on the treaty so we are still short on details.
All of the leaks streaming out of the White House since January 21, 2017 suggest that the president has a short attention span and doesn’t want to read anything more than a page long.
Does anyone believe that he has a reasonable understanding of TPP, NAFTA 2.0, or China Trade X?
Does anyone believe that we have a coherent China policy?
6
For clarity, Trump is not hitting China, he's hitting American consumers of Chinese goods. Americans pay the tariffs (tax). So please, no more Trump hits China headlines, its Trump hits American consumers (again).
21
It’s both. Saying one or the other pays is wrong no matter which one you say
1
No pain, no gain. You should realize that.
3
@Peter S.
What is it you don't get about a "trade WAR?" In a trade war, like any war, both sides take casualties. So the right question is whether the war is worth it. You have no answer to that question.
So all the talk from the last couple of months that things were going well with the trade talks was another bunch of lies.
Of course! You could see this coming.
He lies every day. No he'll be doubling down on the lies, so his mindless base can pound their chests and pretend something great has happened.
10
The headline should be more clearly stated ... "Trump Prepared to Hit America With More Mislabeled Taxes".
17
Thanks! I always wanted my dollar to be worth less....
4
Only Trump could be so stupid as to start a trade war on behalf of a country the US is so deeply indebted to.
Hmmm, seems like he's done this somewhere before.
5
The President is using our economy and consumers like his whip and chair taming the Chinese tiger. Playing chicken with the world's leading economies is a tenuous game. The amount of anticipated and unanticipated collateral damage must be weighed against any gain you achieve. It would be nice if I had more confidence about who is going to blink first. It feels like a crap shoot to me. Too bad we aren't going into this with a solid block of like minded countries.
2
Various publications including the NYT have pushed the narrative that Trump will sign any deal just to save face because it's all about Trump, and he doesn't care how what he does affects America. That narrative seems to be demonstrably false.
I think Trump cares a great deal about doing a good job for America. In North Korea, he invested a ton of political capital in working with Kim Jong Un. He led everyone to think he was close to a historic deal (probably because he thought he was close). Then he walked away from negotiations at the summit. He knew his opponents would take their shots at him for not really being the artist of the deal he claimed himself to be. Now here we are with a much bigger deal with China, and he doesn't like how the negotiations are going. Instead of caving, signing whatever deal China put forth and trying to spin it to the media, he's not only threatening to walk, but he's threatened to impose serious tariffs on everything China exports to us. Yes, all these efforts may fail, potentially spectacularly, but I still think it's hard to see this all happening and conclude that Trump is not at the very least going to bat for American interests. I also don't think Trump is going to fail on this one. China may not want to be viewed as caving to the US, and maybe some amount of back and forth will be needed to obscure that reality, but China really doesn't want half a trillion dollars worth of our annual business going somewhere else.
7
Where will it go?
@Casual Observer
I don't have a crystal ball, but I still think it's fairly likely that the parties find a way to get a deal done that's more than marginally better than the status quo for America after a little more back and forth. That said, I was pretty sure Trump would get a deal done in NK, and he hasn't thus far with things seeming to go backwards if anything...
2
Ah, I now see your question was, who do we send our business to if not China? Clearly there isn’t a new supplier that can step right in and take China’s place, but if this drags on, infrastructure and supply chains form over time in other countries and China definitely can and would be deemphasized.
2
Remember when Trump said trade wars are so easy to win? I so hope he imposes those tariffs on Friday. The man has no idea what he's doing and China will spank him.
5
@Aurora
So, in other words, you hope America fails (even though such failure would cause substantial misery to your fellow citizens) because you care more about seeing America's duly elected president harmed by one of our geopolitical foes. That's a deplorable viewpoint although you're in good company here.
3
Anyone who supports Trump does NOT support America at least not the America the founders of this great Country intended and definitely not the America where everyone is created equal.
The damage he is doing to pretty much all aspects of our Democracy, to our international reputation and to our environment is devastating. The full impact of it will become clear after we rid ourselves of him and it will take decades to recover, if indeed we ever really do.
So while your busy doling out who does or doesn’t support this Country, Bill, you might well look in the mirror because you’ll find that you are the one you are talking about.
1
@Bill Yes, exactly. I refuse to buy anything "Made in America," until Trump is gone. I even purchased a Belgian vacuum the other day that cost twice as much as the American-made ones because I will not support a country which elected a racist who referred to Neo Nazis as "very fine people," and endorsed separating families with absolutely no plan for reuniting those children with their parents, another Nazi tactic. Trump supporters are fighting for American economic superiority. I am fighting for the soul of my country, the America I grew up in, the country my husband served with honor and integrity for 20 years as a USMC officer, USNA graduate, class of 1973. He is horrified at what we've become under the thumb of this depraved "leader."
1
Oh no! He's playing with the bank's (my) money again.
1
Tariffs are taxes. Regressive taxes that impact people more the less $$ they make, including people in red hats. An extra $75 on a washing machine impacts a person making $60K a year a lot more than it does a person making $600K a year.
9
Yes, it'll hit those "fast fashion" too. US consumers will not have cheap exports anymore. But I don't see it as altogether bad thing. US needs to spend LESS, not more. If that means prices need to go up some in order to make people realize that we shouldn't be changing wardrobe 4 times a year or changing cars every year or so, so be it.
2
@tiddle people on the lower end of the economic spectrum spend more out of necessity than vanity. Many don't have cars...
@Basic
Get with the program, won't you. Tariffs are a means to an end, not an end in themselves.
1
With all the US Treasury debt China holds they could easily crush the United States economy with higher interest rates. They don’t even have to sell any of the debt. All they would need to do is say they might sell it and the talk alone would merely be enough to raise our cost of borrowing. Of course, this could adversely affect the price of the debt China holds but if you keep poking the bear (that is, China) the way Trump does, you may awaken him and he won’t care what damage he causes. Make no mistake about it, China owns us.
6
@Covfefe
We’ve got plenty of printing presses, ink and paper to print an unlimited amount of money.
And our aircraft carriers back up our debt.
Nothing to worry about.
1
You do realize those printing presses raise inflation and, hence, nominal interest rates which is a combination of real interest plus inflation, right?
Ships in the ocean mean nothing. What are you suggesting? Nuclear war with China? Absurd!
1
To the people complaining that US Companies manufacture in China and so they deserve to get their technology stolen. This stolen technology is used to start up State run Chinese companies that then undercut the US Companies when competing globally and prosper. Eventually that is what the world will end up having as the only choice. Take the example of Huawei, they stole software from Motorola, there is actual software code in their technology which has been pasted straight from what Motorola had. Today Huawei is the dominant 5G leader and countries are actually using it as part of their 5G infrastructure. The US has warned that China is using it to spy on countries, but it is hard to find a choice.
Is this what you want? US Companies manufacture in China but predominantly employ US workers for high wage jobs. Once those disappear we are in real trouble.
7
I wish more of us could grasp what you are talking about. I hope Trump gets this, or possibly anyone on his team.
Tariffs was the only thing the US had in its arsenal to get China to take our years of complaints seriously! Trump talked about taking on China during his campaigning for POTUS over and over and Clinton never even acknowledged this issue and Obama did nothing about Chinese hacking, stealing, forced transfers and dominance for 8 years! Those 8 years is where China did its most damage to our intellectual property and now are ahead in 5G and artificial intelligence stealing out future economy. Obama/Clinton always backed away from the tough challenges and this was one of them. One thing ill say about Trump is he has guts, and is fulfilling this promise to fix this nonsense. Glad Clinton didnt win, as this is too important!
6
It is Americans who pay tariffs in the form of higher prices, not anyone in China. Using a simple diagram, or by drawing a picture, one of Trump's flunkies could explain that to him, but he would scream and fire the flunky via Twitter.
10
There are indeed pictures of who pays for tariiffs. They show that both parties are worse off (aka “pay” for the tax
Saying US consumers pay is no less flawed than saying China pays
2
It’s really time for the rest of the world to stand up to the bully. China should immediately invalidate all US-held patents and copyrights, as a first step.
China continues to act as though they have already done this. It’s called IP theft.
Who’s the bully?
Trump's bully boy tactics won't work with China, Trump has met his match. The fundamental problem is the USA can not compete globally in most manufactured goods. Other countries like Vietnam will take up any slack. A trade war will cost American consumers, especially the blue collar workers and farmers who will pay the price.
All China needs to do is sell the US debt they own and put the US economy into a tailspin. With the 2020 election a year away that would not be a wise move for Trump.
2
I thought Trump was through with "the tariff thing" now that he is a racetrack tout.
Are the tariffs responsible for the recent string of strong economic numbers, or is it just the Fed pausing on rate hikes? The fed put can only do so much now. The s&p is facing massive resistance at 2900 and if the trade talks fail there will be no breakout, but a major breakdown - look out below! Long Live Arb!
DJT billed himself as the great and powerful negotiator...yet the only tools he seems able to deploy are bully, bluster, and bloviate. He treats all negotiations like a game of chicken.."They'll back down"! Nations take a longer view than transactional real estate developers. Whatever agreement Xi agrees to will ultimately be in the best interest of China. Xi also has the additional advantage of not having to sweat an election in 18 months.
4
Why does anyone think this has something to do with China?
This is just another attempt to divert attention from his domestic legal troubles. He surely knows the GOP would have removed Obama and they did impeach Clinton for a fraction of what we already know Trump has done and continues to do.
His biggest fear should be that the Republican Party grows half a backbone. If they did, he stands the chance of spending the rest of his life in jail and losing his father's fortune in the lawsuits that might follow.
8
We have a president who can only communicate his diplomatic messages via twitter by doing what is equivalent in the diplomatic circles to throwing the gang signs.
In the process there is a great deal of activity which in itself is claimed as accomplishments, and yet a careful review of the ACTUAL accomplishments reveal an economy on basically the same autopilot if has been on for the last 9 years.
Deficit, International standing, Structural economic imbalances, Healthcare, and unity of Americans are all objectively worse. We are a country deeply divided in manner not seen since the civil war.
We have done terrible damage by electing this man. To ourselves, our allies, our image, and ultimately our economy.
When this autopilot encounters an economic red light (as we inevitably must), what will happen?
13
@Vizitei
"When this autopilot encounters an economic red light (as we inevitably must), what will happen? "
It is already blinking Green and about to go Orange. The US Federal deficit is surging due to the tax cuts for Trump & the 1% will end very badly for the USA. Trump is greasing the skids for the permanent decline of the US empire . FYI , ALL empires fail. The 21st century will see China become the tech leader & the US dollar will no longer be the standard.
The Chinese are the oldest and most experienced traders on the planet. They fear no one and never have. China is growing and expanding and can wait out anything a narcissistic and racist arrogant New York trust fund baby can throw.
This is a dangerous game for the world. Warships off off Iran. An Attorney General and Secretary of the Treasury in contempt of Congress.
We are on the edge of a knife standing on a precipice hopping on one leg.
Democracy may end this month.
5
It might look like a trade war, but it is really a contest for supremacy over the world. China is forty years into a one-hundred year plan to dominate the world. Thanks to decades of sustained growth, their GDP is now two thirds that of the United States, and they have a lot of momentum going forward.
America’s strategic mistake was exporting her industries to China, because where goes industry so goes strategic power.
4
What about all the debt that was exported to China too? That’s what happens when rates are too low for too long, just so people can buy big homes...
3
Trump is not used to confronting someone who has less to lose than he has. He’s misjudged China, Korea and Russia (maybe Pelosi too).
2
Shouldn't the headline say he's prepared to hit U.S. consumers with price increases?
If there was any possibility that trump or anyone in his administration understood trade or China and could use threats to bring about desired behavior that's one thing, but we all know don just tweets these threats from his bathroom throne whenever he hears Fox and Friends say China's gonna get us with 5G or whatever their latest bogeyman is.
3
This why blue collar union workers are voting Trump. For two generations no lifted a finger while their manufacturing job went to China. Now Trump threatens Tariffs that will strip China of its low cost provider status. Sure a car will cost $250.00 more but more Americans working in the steel and related industries will be working and can afford it.
5
Look at it this way:
They make nice stuff and send it over here. Then we make lots of dollars and send them over there where they lend them to us at practically zero interest rates.
Come on MR President, you want to change this set up?
A little love makes the world spin round.
Yes, China not negotiating in good faith (I.e. their “reversal” as per NYT) couldn’t have anything to do with Trump’s position/response. China’s track record in piracy and theft of technology from US companies should make any negotiator very wary, and the US needs to show mettle in these negotiation.
4
Another made up “war” with no end. When will we learn?
The United States will be on the loosing end from a horrific trade deal made with China by Donald Trump. The power of semantics and art of chicanery.
1
Not sure what's happened to America these days, once upon a country so proud of personal liberty, self-reliance... China does not force any American company to give up its technology. American company gives it up itself as a part of the condition to enter the Chinese market, it is a business deal. Get over your self-righteousness and etc
17
Everything this bully of a POTUS does is guided by perverse self-fulfilling fears.
He fears appearing weak, guaranteeing that he is seen to be weak.
He fears appearing stupid, ensuring that he is seen as stupid.
He fears being unloved, but no sane person could possibly happily spend time in his presence.
.
.
.
He fears making a bad deal, so he makes decisions that force us into a bad deal.
How anyone can view this PINO as strong is a baffling mystery.
5
@Bob Sometimes the squeaky wheel gets replaced!!! Go 2020
2
Give him time....he will screw up the economy.
10
We seem endlessly (perhaps purposely) to be avoiding the main issue. To wit: The US needs to institute a policy of balanced trade -- dollars in from exports = dollars out for imports. The answer is not tariff war. The answer (as Buffett proposed long ago) lies in currency exchange control. US exporters would be granted $ credits that US importers must buy on a regulated exchange before releasing equivalent $ to pay for imports. That proposal was killed in Congress by special interests. No other trading partner needs to be targeted and attacked with tariffs. The books simply need to be made to balance.
3
Isn't this just more nonsense? He says some outlandish thing, gets on the front page of every news outlet, people go crazy and act like the world is falling apart and then he caves in (North Korea anyone?) and does nothing or goes back on what he said and the world moves on like nothing happened.
This is the whiplash presidency. Has no one noticed that Trump has no teeth? Everything he has threatened he has backed away from. Why would this be any different?
These threats affect the pockets of his cronies and probably himself. Look for a walk back by Friday. The only threats that he would act upon swiftly are those that would cripple the working class.
1
Humans Are Speeding Extinction and Altering the Natural World at an ‘Unprecedented’ Pace https://nyti.ms/2J4zwfQ?smid=nytcore-ios-share
The NYT performs extraordinary (but glaringly flawed) service in the area of information.
Glaringly, they are behind in their explicit and implicit mission-driven use of “NEXTGEN” data (as most recently used with numerous failings by Facebook, etc). They are offering, for example, no hard data regarding the trends, responses and levels of interest in the abundant “flora and fauna” of topics and issues representing the manner and purpose (by proxy measures) of how human energy is channeled and can be seen. Mostly, the juxtaposition of these two articles raises the spectacle of our current failings at self-governance. Isn’t the energy allowed to flow through us, right across the board, in service to their malignant mutual self aggrandizements apparent?
In this case, the topic (Trump) has unilaterally co-opted the press. The President wants the attention of the press, good and bad (a very neutral position in the United States gravitating to free press advocacy [and free speech, of course]), and the press just says “feed me.” The President obliges.
Why not commit to showing the real facts on climate change, for example?
The press is more the emperor with no clothes, with the exception of the most recent addition to the British royal family (God bless). Would that be a bad start?
What is the press really doing?
1
perhaps china found out trump does not pay his bills
2
Btw, the trade deficit is worse under Trump.
4
Jude, based on what specific fact is it worse ?
Um... Total annual trade deficit vs any other previous year.
4
It's a shame that the only tool Trump feels that he has is the "threat". And, when he uses the threat button the only thing he hurts is the stock market, which affects farmers, small businesses, and retirement portfolios, among other things. Trump is playing into the Chinese hands by upsetting the American stock market and making the general population nervous. With all of the lies Trump tells, you'd think that he'd tell everyone that he has the Chinese on the ropes and that they'll be begging for relief in the near future. Come on Trump, use the tools you're famous for, lies, to win the day.
2
Trump the eternal coward who always let underlings to his bidding, so he can always can get upset in a fake way to draw attention back to him.
What a terminally disturbed human being.
3
NYT, for the love of God, stop taking statements from the Trump administration as gospel. They just want us to think there's a problem so Trump can magically "fix" it.
3
The squeaky wheel always gets attention.
1
I know of no other President in modern history that has had the guts to stand up to other nations when it comes to trade. He may not be pretty and is rough around the edges but he's using the power of the Presidency and our economy to move our nation forward in global trade. Obama was at a complete loss on how any of this was done let alone had the tenacity to do it. The only thing that scares me is that Schumer is standing behind the President on this one.
5
Not dime of tariffs is going to pockets of Trump voters, they’re paying more for their stuff and he has you believing that it’s golden rain you’re get showered with.
14
I'm more concerned about any deal Trump thinks is "good". His track record on good verses bad isn't that great ... no, it's terrible.
2
I hope these tariffs are helping ameliorate our deficit and national debt.
2
Trump is man for whom form always takes precedence over (as in... trumps) content. And the form that Trump has found to be a winning formula is controversy. That's because the human psyche (from the standpoint of stoking emotions and getting attention) responds more robustly to events that inspire fear.
What stokes the hormones related to fear more than the fight or flight response? So with Trump there is no development more inviting than a good brawl. How or why you precipitate a brawl is a completely secondary consideration. This is the mindset of a bully and a narcissist with extreme feelings of entitlement that supersede all other considerations.
Anybody who thinks that you can deal with someone like that with appeals to reason, morality, or the common good is dreaming. For Trump it's - when in doubt, provoke a fight. That's how he ran his businesses, that's how he ran his marriages, that's how he ran for office, that's how he dealt with Robert Mueller, and that is how he dealt with the Mueller Report and, now Congress.
A trade war with China? Many parties including a section of his "base" may be injured as a consequence but for Trump it's "c'est la vie" as long as he's protected.
My concern is that future drops in poll ratings will embolden Trump to pull a George W. with Iran, Venezuela, or create some other deadly crisis with the calculation that people will rally around a "fighter". And that's a bona fide concern.
For with Trump, it truly is "L'etat c'est moi."
5
Trump is doing really well in dealing with China. At least he's not in denial like past presidents (in both parties) were. Negotiating with China is going to be rough and tumble. Those who think this can happen over crumpets and tea -- welcome to the real world! Trump needs to remain tough -- a real deal or no deal, and put on tariffs until there is a deal. However, I do think he was wrong on TPP.
4
The TPP would be good AFTER the China deal is signed. That’s why he cancelled it. He gets favorable standing with China on deal and now can make TPP style deals.
1
Mike , the point of the TPP was to get leverage over China.
3
Trump is always making threats as a mean of "testing the water".. and 'rocking the boat' if the vibes are negative, as a gambler, Trump knows when to fold. Trump is like a big barking dog...whose bark is louder and more frightening than his bite. How many times have we seen Trump backed into a corner. he deither lie his way out or shift the blame....to save face.
2
Pathetic coward. When confronted all he does is threaten. Too bad that he doesn't have the "wherewithal" and intelligence to negotiate like an adult!
11
There is no foolproof way to get to a mutually profitable deal with China, and especially one that provide protection for intellectual property. Over the years as "our" manufacturers relocated to China, did any one in the businesses think that technology of interest would not be copied? Did they think that the Chinese Government would protect their interests? They opted for the Wild West, Or I guess, East.
I suspect that the Chinese government considers such theft, done with expertise, as acts of patriotism, allowing their country to catch up.
But anyway, no previous Presidents haven';t done well with this. Trump's version of international relations might have been more suited to the 19th C -- but then agains it might work, or talks may just collapse because one side or the other misread the threats, implicit and explicit.
What is worrisome about Trump is that even when he does make sense, one fears it's a mistake, or based on a faulty understanding, or that he will simply blow it with another tweet.
Will any substantial offshore manufacturing return to the US? That is one of his bets. It's a long shot. The level of pain it would take to make such a change a real possibility might be coupled with price inflation that will sting. Would it lead to better paying jobs???
2
China doesn't need tariffs to cut off its urban middle class consumer from US farm products and liquified natural gas. They just stop the purchases. US grain prices are falling like a stone and US Farm bankruptcies are rising at a faster rate than during the 2008 economic crisis.
By 2022 China will have over 550 million middle class consumers who are Urban, educated and consuming.
This isn't about low wage workers, this is about the largest consumer society in the world in a very short time span.
5
Does a great negotiator need to lie to the competition? Understand what's being negotiated? I'll leave those question rhetorical.
The real question is, why does Trump lie to his constituents about what a tariff is, and why do his supporters not care they are the recipient of that lie?
11
He thinks to himself “What would a two year old do in this situation”, and then springs into action.
14
Hate to say it but Trump seems to be following the only approach that will work with the Chinese government. Nothing else has worked so far and without detailed written agreements, the Chinese will simply do what they’ve always done. Loath Trump but don’t trust the Chinese at all.
4
I don't pretend to understand economics. Trump shouldn't either.
Is he doing/saying the right think on China? I don't know, but neither does he. That doesn't stop him, unfortunately. He is the ultimate poseur. He knows more about everything than anybody, according to him.
But his word means absolutely NOTHING. He could change his tweet tomorrow, not based on facts, but on a whim. So, his micromanagement of the economy scares the dickens out of me. Furthermore, who knows? He could be taking orders from Putin, or manipulating the stock market to enrich himself or his big roller friends.
A sound economic system is based on trust, and nothing about Trump is trustworthy. NOTHING.
2
I'm very much of two minds about this. While certainly no fan of Trump or his shoot-from-the-lip style of presidency, he's the first president to stand up to China. I try not let my distaste for him negate everything he does.
Like all of my friends, I derided his imposition of import penalties on Chinese solar panels. But then I read articles that explained how he had exactly followed the EU's lead, and China's heavy government subsidies had severely undercut US manufacturers.
No one knows how this will play out, but his tough talk has already gotten some not-bad deals from Mexico and the EU. What really makes me angry is that Clintons and Obama ignored the concerns of American workers that China's aggressive export policy and favorable trade treaties like NAFTA alienated American workers.
184
@HKGuy
I hear you about keeping an open mind. I'm not convinced, though, that NAFTA was as bad as you say. That's just what DT said, again, and again, and again. I think the reality is more complicated than that. Yes, trade deals are good to revisit occasionally, but our job as the wealthiest country in the world may not be to siphon off as much more wealth from our neighbors as we can. Do we not have incentives to help them succeed too? Our border security depends on it, for example.
His EU deals are worth questioning too. He has permanently changed our relationship with Europe. Is that so good?
As for China, maybe you're right? They've treated us as an adversary while we've pursued a strategy of helping them build themselves up. A vibrant China is to our benefit as well as theirs, which is the wisdom of the previous trade relationship. China took advantage of that relationship though so its time to renegotiate. However wise it may have been at one time, the previous relationship has stopped making sense.
32
@HKGuy - Please be intellectually honest and add George W Bush to your list of presidents that wholeheartedly supported those trade agreements.
70
@HKGuy TPP was the ultimate leverage to thwart Chinese expansion. A free trade agreement with the entire region with environmental and wage provisions. Ultimately would have provided greater leverage in negotiating with China. The great negotiator started about by getting rid of his most powerful tool.
135
“Hang tough on China, President @realDonaldTrump,” Senator Chuck Schumer, the Democratic leader, said on Twitter."
If the Sun King was getting ready to jump out of a 53rd story window of Trump Tower, Schumer would probably also be offering words of encouragement.
1
It seems like we are about to have a much better level playing field for trade with China. They’ve cheated for years and stole our IP so blatantly.
Despite his buffoonery, gotta give the guy credit
5
It’s so hard to do though.
3
Finally. a president who is willing to stand up to China and demand equity in any trade deal. You did not see this from Obama, or from his predecessors.
4
@paul Obama was working TPP, just accomplishing what was needed with a lot less drama.
10
Has Trump threatened to sue China yet? I mean that's pretty much the alpha and omega of his negotiating skill is it not?
18
Donald Trump never met a difficult situation that he couldn't make worse.
65
He will bet your last dollar he’s right.
10
America surely needs Herman Cain and Stephen Moore on its crack Chinese negotiation team...and fast! Bring in the "A" listers, Donald.
4
@John Grillo
He could put John Bolton on the task...maybe threaten to kick China out of Panama citing Monroe Doctrine. That would get their attention.
Another NYT headline, bound to appeal to your readers, but incorrect. The real story, placed in the second paragraph, is that China is looking to reneg on things that the USA thought had already been agreed too. Somehow that morphed into Trump not wanting to look bad with a "bad" deal. C'mon, let's see some real reporting, not political hack work./
4
I've visited China--- It's not a very nice place: dirty, dusty, no running water for toilets. The people are xenophobic and very rude.
As long as their elitist leaders own 2nd homes in the U.S. and continue to educate their spoiled children here .. The U.S. will always have unprecedented leverage over China.
Otherwise- we should start deporting these corrupt thieves.
10
Hey, I haven't declared bankruptcy multiple times or played a businessman on TV, so what do I know, but it seems like publicly telegraphing your desperation to complete a trade deal as soon as possible is not the greatest negotiating move.
13
I really wish serious news outlets would stop commenting in the president's emotions. Enraged, angry, frustrated, impatient, irate, livid...I don't care. Adding this interpretation of the president's emotional state when he takes impulsive actions that hurt US interests and policy amounts to making an excuse for him. Just report the actions, their known and likely effects, and any explanations offered either openly or off the record by the White House. Then let your readers assess the rationality of the act, without "explaining" it based on the president's performance of emotion, or inability to regulate the same. Does it matter?
4
To prove he's serious, why doesn't trump order Ivanka to pull all her business out of China? That would show the Chinese how serious he is about this.
19
To be fair, he would look pretty silly if after all his huffing and puffing the deal ended up being, for example, a reasonable compromise between neighbors.
2
Someone close to trump is making a lot of money out of these Tweets. Why does Kushner come to mind?
5
The "Art of the Deal" according to Trump is talking tough and walking out if he doesn't get what he wants; which is perfectly okay if the deal concerns and hurts only himself and his company. But when he's dealing on behalf of two great nations what's needed is cool heads and compromise not throwing soybean farmers under the bus and out of business. Trump's tactics are more like the "Art of the Big Fat Brat."
5
"Stable Genius" and "Master Negotiator" just two of the 10,000 lies Donald Trump has shoveled in the last two years.
Just because the last four GOP Administrations destroyed our economy, doesn't mean that a six time bankruptcy filing loser like Trump can't succeed, right?
"Trust me! We just need to give these GOP policies a few hundred years before they finally bear fruit...!"
6
The artless way to arrive at no deal is Donald the Woefully Inept's stock in trade. Of the up to fifty or so plates he's currently got spinning in the air; if so much as a single one of doesn't end up broken into a thousand pieces by the end of his term (or, heaven forfend, terms) it certainly won't be for any lack of trying.
5
I don't like Trump, but I am not choosing China over him. If Trump is the worst, how come Obama and GW Bush were unable to hold China accountable for the technology thefts and forced transfers. If any of them really cared about US Companies and holding the technological edge into the future, they would have acted. I think for any politician, looking the other way is the easiest solution and which is what the previous two Presidents have done. Maybe the only thing that works with China is the Trump way.
141
Us companies got into this all on their own. They wanted cheap labor at the expense of American workers so they made a deal with the devil. No sympathy for them at all.
134
@John. Bah humbug. Dig deeper, we are in the throes of the vanity presidency. Americans are hurt by his tariffs and Trump only cares about the optics of what he does, how does he look, not policy and not people.
101
@John
Meh. Probably not. Nothing works the Trump way. Even thought he'll claim it does.
28
Trump is not a smart man - expecting smart policies from him makes no sense. Without the company and the millions he inherited from his father, Donald Trump would be selling junk on QVC.
24
Trump behaves like a petulant child.
6
Well, well. Trump has backed himself into a corner and any way it turns out he will look bad. Seems it wasn't so easy after all. Ha ha. There will be a book burning Saturday on the White House lawn. All books titled Art of the Deal get free admission to the fire pit.
6
Time to call China's bluff. There are larger issues here. Xi and his thugs must start living in the Real World not the one they have conned the rest of the world into accepting no matter what China does or does not do.
5
Is there an easier place to be than across the negotiating table from Donald Trump? Stroke his ego, give him good optics, and clean up on the details.
10
There is a new health issue in America. It is Trump fatigue syndrome. No one is able to escape the 24/7 negativity and anger. If he were a real President, his administration would be quietly and competently, dealing with the issues of government.
Instead of competence, it is a poorly scripted and acted reality TV soap opera, where every day, ones intelligence and stamina is stretched, and yet tomorrow another lousy episode will continue in the Trump presidency.
25
It is ironic that so many people claim to be willing to pay more for Chinese imports.
China is being blamed for exporting cheap, low-quality goods to the US. However, this is a nation that is eclipsing the US in space exploration and rocket science. China landed a rover on the dark side of the moon, and while doing so released a series of synchronous satellites to bounce transmissions off. So clearly China has the means and technology to produce the highest technical standards on the planet.
So why the cheap exports to the US (and Canada for that matter)? Because that is what people want and are willing to pay for.
If people were truly willing to pay more for Chinese imports, they would have demanded, and received, higher quality goods.
But we know they are not really willing to pay more, so we can expect that China will oblige North American consumers and lower their quality and standards to suit the market demand. All they are doing is giving the customers what they want.
6
The comments I've read are disheartening. People really believe that Trump is not a total incompetent idiot? The stock market has been betting on him having some kind of rationale behind his actions. Seems to be a bad bet. Come on, when you back a country into a corner, give it to them good, and then expect them to not take the 1st opportunity they have to do the same to you, you are indulging in fantasy.
PS. We are asking China to do what Trump claims we will never do. Let another country tell us how to run our economy, etc. So how do you think that will work?
12
"The president has turned to tariffs as a source of leverage to bring other negotiations to the close. In talks last year over the North American Free Trade Agreement, Mr. Trump threatened to leave Canada out of the deal entirely and strike a deal with Mexico, a gambit that brought negotiations to a rapid conclusion."
That really made the Canadians happy, right? (snark)
And the USMCA (NAFTA-2) has not gotten anywhere in terms of being approved by Congress.
So much winning my head is spinning.
17
@Joe From Boston Many adoring Trump supporters believe that NAFTA 2.0 is in force. Sigh. Those are people who possibly vote...
7
@Dan
The members of the Cult of Trump also believe that he is building the wall and that Mexico is paying for it.
We just have to make sure to swamp them at the polls in 2020.
4
On March 4, in yet another of his famous misses, the NYT's Paul Krugman predicted that Trump's trade war with China would end "not with a bang but with empty bombast."
The deal would be a sham, but it would provide political cover for both countries' political leaderships. "The Trump administration will, of course, trumpet the deal as a triumph. In reality, however, it’s much ado about nothing much."
Today, Trump is hanging tough for the real deal, and the usual obsessive Trump haters are back at it denouncing him ... for NOT delivering smoke and empty bombast.
Even when Trump has got it right, they maul him.
3
@Ian Maitland
Um, What is RIGHT here?
3
@Ian Maitland Are the tariffs right? Do you object to your purchasing power being hijacked by Trump?
No, with Trump it will be a non-starter, bragging rights, and there will be nothing to show-just like NAFTA 2.0.
4
@Dan & @R4L
You really haven't figured it out?
You should feel privileged to have your "purchasing power hijacked by Trump."
I'll make it simple. The world (not just the US) is better off if you pay $50 more for a washer today because without that pressure China will continue its theft of of intellectual property so that there will be no point in US firms investing in R&D.
Btw, that drug that won't get invented if things continue that way? -- it could save your daughter's life.
1
I could enter the White House this afternoon and do a better job than this con man. Easy and straightforward. I would simply build a strong team, listen to them, and follow expert advice. I would not lie to the American people. I would take the tough questions without trying to make myself look good at every turn. I would work hard for the country instead of trying to protect myself and profit from the office. It could be me or it could be you...we just need principled and honest leadership again. Should be easy but money has corrupted the process so thoroughly that it is not easy.
719
@John McLaughlin Dang, John, you sure sound like a great candidate for President!
34
Psst, China, tell DJT he’s a great ......... (fill in the blank) and you’ll get all you want.
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@John McLaughlin Okay John, throw your hat in the ring, not much difference if there are 21,22 or 23.
19
I disagree with most of Trumps actions and almost all of his words / tweets. But on this issue of trade with China he is spot-on to hold fast for the best deal while being willing to walk away if China cannot deliver. The forced tech transfer, stolen patents, forced shared ownership, etc cannot be tolerated from an economic competitor of their size and strength.
3
@GTM
The same way he walked away from NK after legitimizing Kim who has been raking in the money since. So much for sanctions, which China is completely ignoring.
4
I'm no fan of the predatory Chinese. But American companies got what they deserved. They made a deal with the devil at the expense of American workers.
'The art of the deal' guy is a total bust.
9
Trump is your basic bully, an insecure sad sack who knows deep down that he is in over his head.
He is additionally too uneducated and uninformed to have a clue how to negotiate with anyone that he cannot intimidate.
And all of that happens in plain sight.
67
Who knew that the art of the deal
could be boiled down to three simple steps?
1. Bluster
2. Cave
2. Repeat
41
@C. Whiting
Show me where Trump has caved.
What's funny is that it is all the people who are whining about paying $50 more for a washer who are furious that he HASN"T caved.
1
@Ian Maitland
Caved on Kim...Where's the Nuclear deal?
Caved on Putin...Where's the election meddling retaliation? Where are the people of Ukraine?
Caved on the Mexican's will pay for the wall, caved on so many things. If you don't go barreling in repeatedly without a plan, you don't have to continuously cave when your non-plan predictably blows up.
5
@C. Whiting
May I add... caved on that "great" healthcare plan too? Remember? Everyone will love it.
4
Petulant Pres. will be out foxed by another dictator.
Great buddies he thinks he has, Chinese, N Koreans Russians and Saudis, etc. know how to manipulate the "great deal maker"
What a fool!
23
A 25% tariff on Chinese goods is a tax. on consumers at the tune of 125 billion a year. So much for your cut. As with the last set the Farmers will pay the price and be bought off with more farm welfare.
14
China has been "eating our lunch" for far too long. I'm no Trump fan, but it's about time America took a hard stand and just say no to unfair trade practices, technology piracy, and market restrictions. China has made enormous strides in its' economy and military - much of which we've handed them on a silver platter.
5
The master negotiator was so afraid of a bad deal that he had to make threats? Sounds like trump is in over his head---again.
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@say what
Fat lot you know about negotiating. Threats have always been part of the mix ... and also kisses, like the cheap ones Trump has blown at Kim Jong-eun and other creeps. Someone else is in above their head.
1
@say what
Threats, real or implied, are a valid negotiating technique.
The core issue in this dispute is the Chinese manipulation of tariffs (defacto and dejure) combined with their blatant theft of American intellectual property.
Much as I despise Trump, he is the first US president who has insisted that China reform its trade relations with the US. The first probably since NIxon opened the door.
China needs to learn to behave. If they don't, they can sell all their state supported goods to their own people. See how long their economy performs well enough to keep people complacent.
5
This is Trump showing what he always does, he doesn't understand international trade in any way shape or form and he will not listen to the true experts that he has to call on because his ego is way to big to admit that there's somebody out there that knows more then him.
The real problem with this, is that this is true about everything he does whether it's the military, legal, environmental, etc., etc. and he's the president and we're in trouble.
Come on 2020.
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@Eyes Wide Open Trump has little understanding of anything.
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@Eyes Wide Open
he has not made billions
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@BTO
Yes, just look at where the experts have led the United States for the past several decades.
1
President Trump isn't the type to sign a bad deal just for the sake of bragging rights. He wouldn't threaten tariffs for no reason, either.
One thing you can count on, China takes his stance seriously, because he will make good on his words, if necessary.
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@SCPro He may make good on his words and we the consumer will pay the price, the tariffs.
We are already seeing higher prices for consumer goods from China and higher oil prices due to the embargoes.
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@SCPro
You seem to believe what you're writing.
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@SCPro
Now you're just being silly. He will FOLD, as he always does, as he did with North Korea and with Putin. But you will believe all the junk he peddles - sad!
112
Umm, I think most of us know that thousands of American companies manufacture their products in China, as well as in other countries with skilled but relatively inexpensive labor forces. It's called "globalization" and also "competitiveness," i.e., producing at competitive costs vis-à-vis competing companies. Trump can't get this through his thick skull. He sees an overall trade deficit with China and automatically thinks we are "losers." Idiotic. I suggest he take his lead from those American companies before playing more games with tariffs.
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@C.L.S. Your thinking is headed in the right direction, but it’s out of date. Simply dismissing the issue to “competitiveness” does not resolve the underlying trade imbalance issue, or address the systemic inadequacies that enable labor, environmental, legal, and financial abuses.
Any progress in trade must pair with accompanying considerations and safeguards in these areas.
7
@Person Umm, Person, the competing companies that I refer to are decidedly not " Chinese companies." They are other companies worldwide that produce the same or similar goods.
6
@C.L.S. I take issue with your belief it is "skilled labor". We buy "stuff" from China that is so poorly made it is not worth the cost of shipping alone. So ultimately the cost of said "skilled labor" is expensive.
1
I support President Trump on this issue. I want him to win. If we have to pay more on goods from China, we should. The tariffs is the only tool available to bring economic justice. That is the only language China understands. The tarrifs has to be high enough that American corporations no longer find it attractive to manufacture goods in China. In fact, we should put tarrifs on all manufactured goods in China by any country. China is counting that Americans do not have the stomach to pay high prices. We should reduce the consumption anyway to save the environment. High cost of goods is one way to do it. If he really gets a significant win on this issue, I may even vote for him.
5
@Kodali Why should we pay a tariff on stuff we do not and cannot make within the US. Do you honestly believe the Christmas Tree light industry is going to return to the US. Tariff are only effective when use with Precision. Trump reckless tariff are a tax on American consumers. A few manufacturers get to raise prices and reap the benefits all Americans pay for tarrifs. Don't believe me the tariff on washing machines produced 1200 job each so far has cost the consumer 850,000 per jor and that grows every year. Tariffs can work, but used the way he uses them is reckless and careless. If you like them don't whine when you are at the checkout counter. Trump added a sales tax of 25% on any Chinese imports if he gets his way. Don't be surprise if inflation jumps again. Cheap manufactured goods help keep inflation in check for 30 years.
5
@GUANNA
Don't duck the issue. How do you propose that we prevent the theft of intellectual property and the discriminatory treatment of foreign companies? And you can't see further than the price of washing machines!
2
I didn't vote for Trump nor would I, but it sounds like, from a negotiating standpoint, he is really taking it to the Chinese.
7
@Bob that's a great point Bob.
I despise this administration and feel Trump will eventually go down on corruption/emoluments issues.
But let’s be honest:
The Dems have let us down on a few issues. The China trade/technology question and, especially, immigration where the 23 candidates are doing their best to stay mum.
At least Trump is addressing these issues—and other than sheepish objections to certain aspects, an overall Democratic position is hard to discern.
3
Trade wars are good and easy to win?
4
@Commonmann
When will you figure it out?
Trump didn't say that because it's true. He said it as part of his bargaining strategy.
It seems like China is trying to get a deal where both parties write the terms of the deal into law through legislative changes. They will agree to make legislative changes as long as we do the same (a smart move considering what we did to the Iran deal). It will be hard to refuse such a reciprocal offer without looking like a huge hypocrite.
28
@Aoy. You have it backwards, the U.S. wants the legal codifications, the Chinese want do it by executive action and regulation and therefore not permanent.
1
@Aoy
I find amusing your comparison of the US congress and China's "legislature." Never mind the notion that we can somehow depend on China's "legislature" to "uphold agreements.
1
@Frank J Haydn
The way that Republicans rubberstamp everything the President does, deny judicial appointments and cover Trump's lies, the differences are quickly evaporating.
What we have is the *Constitution*, and that has saved us - to date.
More desperate belligerent losing from the self proclaimed ‘winner’ and ‘deal maker’ POTUS.
11
I’ve negotiated with the Chinese. It’s a classic tactic for them to string you along, making verbal commitments and leading you to believe great progress is being made, then refusing to put it in writing.
Then, you have to threaten to either retaliate or walk. Sooner or later they will (after several back and forths) agree to put it in writing. Think you’re done? Not by a long shot.
Next come the continual attempts to change the language. Get that nailed down and eventually they’ll sign an agreement.
But, now the real negotiations begin. You have to stay resolute, always anticipate their next moves and not be afraid to use your leverage. They think Americans ultimately cave if they are just patient.
Mr Trump and his team are taking the right path to success, but there will be more twists and turns. The biggest danger we face, and the one the Chinese are counting on, is that Dems, Congress, outsiders undercut our negotiating position, and blow the whole thing up — either accidentally or purposely.
Stay strong. We can stop them from stealing our IP, technology and markets. There is much at stake here.
202
@NJLiberty There theft of IP technology should be punished. Americans pay for the tariff not China. Do you honestly think they swallow this added cost. The can make up for decreased sales with a slightly slower growth. ad sales elsewhere.
15
@NJLiberty Who is stringing who along. It would appear Trump starts waffling and the Chinese react.
In time Liu may tell the grifter to take a hike and the public to get accustomed to higher prices.
35
@NJLiberty
There IS much as stake - too bad we have a know-nothing at the helm who didn't even know that China was NOT part of TPP.
61
Lose $500B a year to China? He's appealing to his lo info supporters who have no idea that they are the ones paying the tariffs. Not China.
359
@Blaine Selkirk
Funny, I am not aware that it's high fives all around in Beijing because of Trump's new tariff threats. Why not if it's we who pay, not them?
Maybe the Chinese government has figured out something that you still don't understand.
7
Tariffs work in many ways in this case! Whats most important is if prices rise because of tariffs US companies will eventually leave as they'll set up supply chains elsewhere like in Vietnam, Malaysia, etc, and China losing tax revenue, investment, and jobs needed to keep the young people from rising up. Tariffs are currently on and no one notices, GDP is great 3.2%, and Dems love tax revenue so whats the problem?
3
@Barooby
Ask GM who is paying, they will explain it to you.
5
President Trump cliaims to be an expert in negotiations but surely he means just in real estate negotions. He is showing beyong a doubt that international negotiations are way beyond his capability.
5
Our leaders, political and corporate, sold out the American worker years ago
12
10,000 recommends.
1
This fool or his administration are not capable of making any good deals!
If for nothing, impeach him for stupidity and incompetence! it will look really good on our history books!!
17
This guy continues to puzzle me. The degree in which he repeatedly attracts attention by looking like an absolute jerk astonishes me. To be honest, his negotiating makes him look like a moron. I believe this is nothing more than some media buzz making it look like he’s calling the shots. 2020
51
So the goal of the Trump administration is to balance trade with all partners? No trade deficits at all with anyone?
That demonstrates, yet again, the depth of ignorance and stupidity of not only Trump but his entire cabinet and staff.
So, Mr. President, where are the easy wins you guaranteed? Or will you try to blame the results of this on the Federal Reserve, too? HRC's email server? Fake news? Jeff Sessions? Palestine? Iran! That's got to be it!
So, so tired of all the winning...
143
Hail to the Twitterer-In-Chief !
Oy vay.
73
So much winning winning winning.
Is anyone else tired of all this winning?
23
My yearning to see tsunamis of 'shade' thrown 'on' trump such that I might experience a surfeit of schadenfreude is my no-longer-secret "American" sin.
15
Isnt this another attempt to misdirect the Mueller investigation?
22
@Nicolas Lee No sending the Navy to the Persian gulf is what he and Bolton are using to divert attention from his political shenanigans.
6
Trump's Tariff Threat stemmed from a third-grade understanding of economics, combined with a racist view of the Chinese.
While it's fun reading high-level analyses of political leaders motivations, Trump is not a complex man. He's not even a man. He's a little boy who never developed into a man because he's spent his entire life living in privilege. He is a racist simpleton who appeals to other racists.
253
@Randall Many people seem to ignore the fact that businesses have been outsourcing manufacturing to countries,(mainly China), for decades for cheaper labor and increased profit.
2
What Trump’s supporters don’t realize or refuse to believe, is that those tariffs imposed on China, will be PAID by Americans! China is no fool! They will pass on the cost to us! SO....another LOSS for the “great negotiator” aka Fool!
Trump had to BAIL OUT American farmers with seven BILLION in subsidies....but hey...don’t call this a “hand out”! In the meantime, American farmers lost the lucrative Asian soy bean market!
Blue tsunami 2020!
283
@Mari Remember when money goes to minorities it is called welfare but it is called "aide" when it goes to white people
21
@Mari
Ignoring the obvious and salient point that the rational reaction for businesses is to relocate their infrastructure back to the USA from China.
Much as they have done with some of their Mexican infrastructure.
I think Trump is a bozo but decades of smart and nice guy presidents have done nothing to address the off-shoring of American jobs.
And - just in passing - none of the existing crop of Dem-hopefuls are either - just saying.
3
@SteveRR
Agreed. Biden’s comment on China illustrates your point perfectly. I’ve not seen one word regarding substantive policy on trade from any of the Dem candidates. Once again the Democrats treat Trump like an inferior politician destined to be ousted from the race.
Fool me once...
I think that international relations involves a lot more considerations than Trump seems to understand. He is threatening higher tariffs in the hope that it will make Chinese leaders agree to a quicker agreement. Sometimes fear is a great motivator but sometimes trying to make people afraid only makes one look desperate. This is one of those times.
China while it has a strong man, is an oligarchy, not a dictatorship by one person. Xi can only command that regime so far before he runs into opposition which he cannot affect. China is a Communist state with a regime that is fundamentally a dictatorship of the proletariat which is an absolute kind of regime with a Marxist goal, not a capitalist goal. Even today, the central government cultivates local communist party organizations to solidify it's power. The Red Army is semi-independent with it's own revenue sources. The central government commands key industries and so keeps them from the freedom of private enterprises. It's a very complex and mixed economic system.
Trump lacks understanding of dealing with nation states and the different kinds of governments that exist. He relies upon a minute database of information, his private experiences, and it shows.
148
@Casual Observer
Its not accurate to describe any dictatorship/oligarchy as Marxist.
3
@Casual Observer Your comment is the first piece of writing I’ve seen on NYT (articles AND comments) that shows an understanding of the Chinese political structure.
8
@Aaron
The transition from socialism to communism, the stateless workers paradise, requires a regime which will assure that everyone has become prepared to live in that paradise, the dictatorship of the proletariat. The communist party when it rules is the dictatorship of the proletariat. There is no such thing as government by the governed in a communist socialist state, in the perfect workers paradise, there is no government and until it exists only the guidance of the communist party is required.
2
On the one hand, burning the U.S. economy to the ground may cost him re-election. On the other, it will leave his successor with the impossible task of rebuilding it while facing a wholly intransigent Republican-led Senate.
44
@BKLYNJ
If today's jobs figures are what you call burning the economy to the ground, then burn, baby, burn!
3
@Ian Maitland
Either Donald Trump is a financial genius, despite his 50 year track record of failure after failure, and bankruptcy after bankruptcy, OR, his total lack of economic insight has failed to catch up with him and our economy yet.
I would suggest that today's job figures are exactly that - today's.
I seem to recall the stock market doing pretty well 2 years prior to George W. Bush leaving office. Of course, in those last 2 years, the market lost over 50%, going from 14,000+ to under 6,000, while we shed 500,000 jobs a month as his "reign of error" finally took full effect.
Put it this way, do you really think a proven financial idiot like Donald Trump will allow this country to completely escape that very idiocy?
20
@Chicago Guy
So far he's batting .500, and so far you are batting .000. True, past performance is no guarantee of future returns, but someone had to take China to the woodshed.
1
We are permitting this over-grown child to play games with the rules and laws of our country. This is similar to you or me making table rules for a game we play. He has no concept of what to do or how to do anything pertaining to the job he unfortunately holds. He flip-flops on a daily basis, besides his ongoing lies. Heaven help us if he gets re-elected.
42
@Sari It is up to us to see he gets shown the door in 2020!
Can't wait to see the helicopter taking him and his family out of DC!!!
4
@Sari
Nice analogy. next time I am playing checkers with my niece, I'll change the rules of the game.
1
@JB
And straight to Leavenworth.
It's not free trade when China steals our intellectual property, and when China insists on a transfer of American Intellectual property to them as a condition of doing business, as they now do.
Me? I avoid Chinese products as much as possible, (as I type this comment on a Chinese-made cell phone).
3
@MIKEinNYC
No it's not but we are not in a position to pick up our marbles and go home. Our economy is deeply integrated with the global economy. So iis China's. To correct these problems requires China agree, but we can only push that country so far before it just leaves us to pound sand.
2
As much as I hate these tariffs, good. China needs to be held accountable for the cheap and illegal ways it handles foreign companies.
6
Schumer needs to retire. We don’t need no Republican lite.
11
America has already lost in this trade deal because it will be bilateral, as opposed to the multilateral agreement, known as TPP, that involved 11 other countries. If China cheats or reneges all we can do is barter or trade tariffs. Instead of several countries punishing China we got it down to just us and them. When we go it alone, no one else cares if China is compliant with the agreement. No matter how much Trump hated Obama, two sets of eyes will never compete with ten more, it's just math.
14
"Trump’s Tariff Threat Stemmed From Concerns U.S. Is Losing in Trade Deal"
The President will say and do anything for attention. The above headline shows the media's inability to cover him. Never take anything he has to say seriously.
12
A good argument can be made that the U.S. must be tough with China to get a fair trade deal. A very good argument.
But there is no good argument to be made that the President should use twitter to advertise his stunning lack of knowledge about how the economy and tariffs work.
One of the reasons Trump has been a failure at negotiating international deals is that he constantly reminds the people we are dealing with that he, and his senior advisors, have been the most ignorant people in every negotiation they have entered.
Why hurry to close a deal with Trump when waiting always presents the opportunity to take advantage of his ignorance, impatience, and emotional instability?
403
@LT: exceptionally very well put.
23
The Great Negotiator. Or, at least he plays one, on TV.
Thanks, GOP. 2020.
232