14 thoughts on “Trump Aims to Please

  1. Blowback says:

    “Investors rattled as Trump considers new $100bn tariffs on China” (live updates) https://www.theguardian.com/business/live/2018/apr/06/investors-unsettled-as-trump-considers-new-100bn-tariff-on-china-business-live (“The US-China trade spat could wipe 0.5% off Chinese gross domestic product – if the US carries out its latest threats and Beijing responds.”)
    China says it will fight back ‘at any cost’ against US trade tariffs https://www.cnbc.com/2018/04/06/china-says-will-fight-back-at-any-cost-against-us-trade-tariffs.html
    How China’s Proposed Tariffs Could Impact States’ Economies http://www.governing.com/topics/finance/gov-china-tariffs-states-economies-trump.html

  2. Release The Kraken says:

    Larry Kudlow, President Donald Trump’s top economic advisor, told reporters Friday that he only found out about the latest proposed tariffs against China on Thursday night. https://www.cnbc.com/2018/04/06/larry-kudlow-just-found-out-about-new-trump-china-tariffs-last-night.html The cable news personality had previously been outspoken in opposition to Trump’s tariff plan, saying “In fact, tariff hikes are really tax hikes.” https://www.cnbc.com/2018/03/03/kudlow-mr-president-tariffs-are-really-tax-hikes.html
    “Mnuchin Says There’s ‘Level of Risk’ of U.S.-China Trade War” https://www.bloomberg.com/news/articles/2018-04-06/mnuchin-says-there-is-level-of-risk-of-u-s-china-trade-war “The Treasury secretary said he wasn’t concerned that China would retaliate by making it harder for the U.S. to finance deficits just as the administration’s tax cuts increase the federal government’s borrowing needs. China owns almost $1.2 trillion of U.S. government debt.
    “I’m not concerned about that,” Mnuchin said. “There are lots of buyers around the world for U.S. debt.”

  3. Chump change says:

    Treasury Secretary Steven Mnuchin said Sunday that the United States and China are stepping back from a possible trade war after two days of talks that produced “meaningful progress.”
    https://www.washingtonpost.com/business/mnuchin-says-us-and-china-putting-trade-war-on-hold/2018/05/20/2b84cf62-5c46-11e8-b656-236c6214ef01_story.html?utm_term=.bcee4581f889
    “Both Mnuchin and Larry Kudlow, head of the president’s National Economic Council, said that while China did not agree to meet the $200 billion deficit reduction goal that President Donald Trump has discussed, the Chinese did agree to steps that could ultimately mean big cuts in the trade gap between the two nations.”

  4. Yee-Haw says:

    “On Tuesday, the White House said the administration would proceed with its proposal to impose 25% tariffs on $50 billion worth of goods from China, and place new limits on Chinese investments in US high-tech industries.
    The decision comes after top administration officials have tried to dampen fears of a trade war.
    Treasury Secretary Steven Mnuchin said a trade war with China was “on hold” less than 10 days ago. And Commerce Secretary Wilbur Ross is expected in Beijing on Saturday to help ease trade tensions between the two major trading partners.
    Beijing has previously pledged to retaliate against the 25 percent tariffs.” http://money.cnn.com/2018/05/29/news/economy/china-tariffs/index.html

  5. Wharfinger says:

    “For America’s fastest growing East Coast ports, trade with China equals billions of dollars of investment and thousands of well-paid jobs in the heart of Trump country and not, as the president portrays it, the death knell for America’s middle class.” http://gcaptain.com/as-trump-talks-of-trade-losses-china-is-a-win-for-u-s-east-coast-ports/
    See also interactive chart at http://fingfx.thomsonreuters.com/gfx/rngs/USA-TRADE-CHINA-PORTS/010070C00SE/index.html

  6. Hoser says:

    As trade war looms, Canadians horrified to learn some maple syrup is actually from the United States – Donald Trump’s new tariffs highlighted a shift many Canadians didn’t realize: an increasing amount of American syrup is sold in Canada. http://www.scmp.com/news/world/united-states-canada/article/2149008/trade-war-looms-canadians-horrified-learn-some-maple Canada long enjoyed de facto leadership of global maple syrup production, largely thanks to producers in the province of Quebec. Through heavy investments technology and the creation of a maple syrup federation – which its critics allege operates like a cartel – the province is responsible for nearly 90 per cent of Canada’s production, and until recently, three-quarters of global consumption.
    In 2016, Quebec imported US$20 million worth of syrup, almost all of it from the US.
    In a bid to unseat Canada as the largest producer – and taking advantage of a warming climate – American states are tapping maple trees at a rate nearly four times the rate of their Canadian counterparts. The tariffs, if they go into effect, will have their largest impact on producers in Vermont, which produces nearly half of all US syrup.

  7. Æbbe says:

    Mexico imposes tariffs on $3 billion worth of US exports http://money.cnn.com/2018/06/06/news/economy/mexico-us-tariffs-retaliation/index.html
    Aiming at Trump strongholds, Mexico hits back with trade tariffs https://www.reuters.com/article/us-usa-trade-mexico/aiming-at-trump-strongholds-mexico-hits-back-with-trade-tariffs-idUSKCN1J11EV American pork producers, for whom Mexico is the largest export market, were dismayed by the move. The president of the U.S. National Pork Producers Council, Jim Heimerl, said Mexico accounted for nearly 25 percent of all pork shipments last year, adding that “a 20 percent tariff eliminates our ability to compete effectively in Mexico.”
    In Minnesota, about 14 percent of the state’s $7.1 billion of annual agricultural exports goes to Mexico, one of the state’s top export markets, said Matthew Wohlman, Minnesota Department of Agriculture deputy commissioner.

  8. Gweilo Joe says:

    “China is slamming $34 billion worth of US goods with tariffs. Here are the states that will be hurt the most.” (Business Insider 6/22/18) China announced tariffs on $50 billion worth of imports from the US in response to Trump’s tariffs on Chinese imports, an escalation of the brewing trade war between the two countries. Also mirroring Trump’s move, China’s tariffs will be deployed in two waves — the first covering $34 billion worth of goods coming in early July.
    Eight states exported more than $1 billion worth of tariff-eligible goods to China in 2017 (see list).

  9. Wham-O says:

    “BMW said Monday that it would move production for some of its SUVs out of the U.S. as a result of new tariffs placed on the vehicles, according to The Post and Courier in South Carolina.” http://thehill.com/policy/finance/international-taxes/396248-bmw-to-shift-some-suv-production-overseas-in-response-to “The German-based automobile manufacturer signed an agreement with its Chinese partner, Brilliance Automotive Group Holdings, to increase the number of vehicles produced in the country, according to the Charleston newspaper, with the total reaching 520,000 by 2019. “Our agreement sets a long-term framework for our future in China — a future involving continued investment, further growth and a clear commitment to the development and production of electric vehicles,” said BMW CEO Harald Krueger said.”
    BMW builds key SUV models in Spartanburg County, where it employs 10,000 people. Those vehicles are exported to 140 countries, making BMW the largest U.S. auto exporter. Most of the cars made in the Upstate are shipped overseas through the Port of Charleston’s Columbus Street Terminal.”

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