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China hits back at US with tariffs on $60bn of products
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Getting screwed in the market thanks to this dumbass.
You know what, fuck it. I hope he settles with China and the deal is even more favorable to China than it was before. Any settlement of tariffs will help my stock positions and such a settlement will just make him look even more pathetic for the Dems to finally take over this shitshow of a mess.
You know what, fuck it. I hope he settles with China and the deal is even more favorable to China than it was before. Any settlement of tariffs will help my stock positions and such a settlement will just make him look even more pathetic for the Dems to finally take over this shitshow of a mess.
I know right
I love when people complain about how expensive tech stuff is and then also complain about making products overseas. Or the classic "Why are Levi's so expensive" "I wish more jeans were made in America"
I've been thinking about doing the same. I was getting ready to make a big payment to my student loans this month because I put money into my retirement account every time I get paid. Thinking maybe forgo that big payment to student loans and make extra progress on my contribution limit instead
This seems like a prime opportunity. I'm glad that I held off putting too much money in this year so far (for unrelated reasons -- but hey, don't look a gift horse in the mouth).Me right now, ready to invest more in Index Stocks:
They already are which is why Trump just requested additional $15B for farmers today. Trump keeps trying to cover his ass when he's the one creating the problem.
This is a war he cannot win, we import far more from China than they do from us, and they can get almost everything they import from us elsewhere.
As a US company owner, no we can not buy American, no one makes or can match the prices we pay from China. We are being taxed now 25% on all our shipments of products just because of a stupid feud. And whats the point of saying to go buy from another country that's not China, we are still not buying American then. What a fucking idiot.
As a US company owner, no we can not buy American, no one makes or can match the prices we pay from China. We are being taxed now 25% on all our shipments of products just because of a stupid feud. And whats the point of saying to go buy from another country that's not China, we are still not buying American then. What a fucking idiot.
Market is down because they priced in resolution on Friday that got reversed over the weekend.
He essentially called China's bluff.
I have a feeling that many of you don't actually follow this trade stuff, but essentially both sides were getting close to a deal when mid-last week China killed off everything they agreed to. They did this because they believed that Trump would cave at the last minute.
The biggest issue was that China has previously agreed to sign into law a requirement to respect foreign IP and not require assigning all IP to China when you do business there. Last week China explicitly struck all of that language from the agreement (ie. we can go back to legal stealing of IP) as well as a number of other items that were the hot buttons on the US side.
Not sure what everyone here wants to see? China continue to block foreign investment and steal everyone elses IP?
He essentially called China's bluff.
I have a feeling that many of you don't actually follow this trade stuff, but essentially both sides were getting close to a deal when mid-last week China killed off everything they agreed to. They did this because they believed that Trump would cave at the last minute.
The biggest issue was that China has previously agreed to sign into law a requirement to respect foreign IP and not require assigning all IP to China when you do business there. Last week China explicitly struck all of that language from the agreement (ie. we can go back to legal stealing of IP) as well as a number of other items that were the hot buttons on the US side.
Not sure what everyone here wants to see? China continue to block foreign investment and steal everyone elses IP?
I am so glad that we have the infrastructure to be able to manufacture on the same level as China of all the things that they make over there....oh wait, we don't....
WTF Trump. Did he even think about how we don't even have the level of infrastructure to handle all of the tariffs that he has put up. If China decides to tell the US "Go fuck yourself" and just completely stop manufacturing everything that is being imported from China on that list, we would be fucked. (can you imagine something that cost .99 now could be $10 after being manufacturing in the USA...unless he wants us to go into borderline slavery in our manufacture sector of business)This is not the time to do that sort of crap.
WTF Trump. Did he even think about how we don't even have the level of infrastructure to handle all of the tariffs that he has put up. If China decides to tell the US "Go fuck yourself" and just completely stop manufacturing everything that is being imported from China on that list, we would be fucked. (can you imagine something that cost .99 now could be $10 after being manufacturing in the USA...unless he wants us to go into borderline slavery in our manufacture sector of business)This is not the time to do that sort of crap.
I held off a bit too building a large cash reserve, but couldn't hold off on Beyond Meat's IPO.
It's quite literally one of the few safe havens today despite being a rollercoaster last week.
Do we know for sure that's what happened? Or is that what the Trump admin is saying happened? The last I heard about that IP regulation was the deal supposedly punted enforcement for years, which could make it seem not as tough on China as Trump has claimed.
OP
OP
They reneged here to try and bait Trump into caving or they just have no plans to actually enact something like that?
So they did what this administration loves to do themselves?
I've been told many times "get it made in America". No it doesn't work that way because America is not setup that way. The reason why China works for so many products is the specialized manufacturing everywhere. You want something made that lights up? You want a plastic toy? You want such and such, there is tons of factories that will gladly make whatever you ask them to as long as you pay. In America, literally this doesn't exist, you either have to create your own factory for the sole purpose of producing that good, or find someone willing to make it for you, which is rare. Only a small amount of factories produce for third parties, as most factories are tied to deals with specific companies or only specialize in making a small set group of products. Most US factories will turn you away if you ask for them to make something for them, and even if you find those willing to work with smaller companies, they charge a ridiculous amount for the product. This is why so many products are made overseas which have so many options for manufacturing.
Thanks for the information. Trying to find out and understand more so I've been trying to read from a couple of different places. I don't follow this that much or know that much about it. I only heard about China backing out and that trade war was mentioned a lot on the site where I keep track of what I'm invested in.
As neither an American or a Chinese, I wouldn't mind both America and China destroying each other with these tariffs. Both Donald Trump and Xi Jinping are downright scumbags.
But out of the two, Xi Jinping is the bigger scumbag. The CCP has incarcerated over a million Uyghur Muslims into concentration camps, where families are being separated, and people are being abused, beaten, tortured, and killed, and women are being forced to marry Han Chinese men (i.e. state-sanctioned rape). One of the biggest ethnic cleansing campaigns in recent times is happening right under our noses, and most of the world is ignoring it, just because they want to do business with China.
But out of the two, Xi Jinping is the bigger scumbag. The CCP has incarcerated over a million Uyghur Muslims into concentration camps, where families are being separated, and people are being abused, beaten, tortured, and killed, and women are being forced to marry Han Chinese men (i.e. state-sanctioned rape). One of the biggest ethnic cleansing campaigns in recent times is happening right under our noses, and most of the world is ignoring it, just because they want to do business with China.
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While most of us are Americans, most of us don't support Trump as President. He's just #45 to us.
You would be wrong. Anything that hurts China is good for the US. Jobs leaving for Vietnam hurts China.
Is there a comprehensive list of goods being hit with tarrifs somewhere?
Why would they trust TRump? Trump lost all legitimacy when he left the Iran deal.
Yeah, not really. NPR's Marketplace has done stories of the impact the US/China tariffs have had on the steel industry and soybean market, but I haven't seen to many waves in the mainstream news. I think part of the problem is a lot of these tariffs are affecting components and raw materials that get mixed into finished products. It is tougher to report on the effects in a short 30-second piece.
Would not touch any crypto currency with a ten foot pole. After it nosedive from 17,000+ a share in Dec. 2017, and everyone lost money.
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As a company owner who is being raped by these tariffs and now on the verge of having to shut down if this doesn't resolve itself, FUCK TRUMP and his bullshit trade war. So far this year we've been penalized with tariffs of over 20k and with the new round of tariffs we are going to soon being paying another 30k in penalties just because of the orange cheeto's BS.
He's not doing us any favors, he's roasting American tax payers over his little fight over nonsense that's been the norm for years. He's using our businesses as leverage in trying to enforce policy acting like hes doing something good for the US. No you are going to put American workers out of jobs.
Latest I saw, the US was requiring China put the agreed upon trade agreement including protections etc. actually into law (rather than the agreements that have historically happened which China just completely ignores). According to the info that snuck out last week, the Chinese delegation felt that with Trump harping on the Fed to cut rates that the US economy was much weaker than its data appeared. As such, they pulled back on everything they didn't want to give without a fight in the hopes that Trump would cave and sign.
The US wanted specific commitments to change laws for protecting IP and barring forced transfer of US technology. From what I understand, those sections were agreed upon and then completely nixed in the draft last week. Based on my read of the below, China doesn't want to consent to protecting IP or barring transfers because they are worried about how it would make them look.
From the Chinese press,
In a wide-ranging interview with Chinese media after talks in Washington ended Friday, Vice Premier Liu He said that in order to reach an agreement the U.S. must remove all extra tariffs, set targets for Chinese purchases of goods in line with real demand and ensure that the text of the deal is "balanced" to ensure the "dignity" of both nations.
Hmmm maybe I should start looking into this lol. Never invested before.
Take most financial advice people give you with a grain of salt, even my own. I only recently started investing on my own this year, whereas before I was relying on Actively Managed Funds (thankfully, I wasn't putting in too much money, and pulled it all out as soon as I realized I was throwing money away).
This Last Week Tonight piece is a good starting point:
https://www.youtube.com/watch?v=gvZSpET11ZY
If you're interested after watching the John Oliver piece, give this a read on how to invest (includes chapters on how to invest in Canada, US, UK and Singapore. There might be one or two other countries I'm forgetting):
https://www.amazon.com/Millionaire-Teacher-Wealth-Should-Learned/dp/1119356296/ref=dp_ob_title_bk
i worked on wall street for years and i will be the first to tell you not to listen to my dumbass posts here
no, thats patently false. It helps large businesses in the US crowd out smaller ones because they are able to 1) absorb the impact of tariffs in the short term and 2) migrate supply to other parts of the world away from tariffs while smaller business must pass along the full cost increase and lacks the ability to push ahead with manufacturing somewhere else due to the bigger guys buying up factory capacity elsewhere. This also doesn't take into consideration farmers that are losing money, taxpayers that funding farmers that are losing money and a general slow down in the economy.
I'm not even that against tariffs against China... but you know what would have been a better idea before going down this path? Having the US participate in trying to normalize trade, bring some more worker protections and place trade pressure on China by creating these deals with countries around Asia to deal with the West and away from China. Maybe these countries across the pacific, dare i say... Trans-Pacific... could have created some kind of, i don't know, partnership to accomplish these things that the US could have been involved in.
Just crazy talk though.
Some things will go back down, but the pessimist in me thinks many consumer goods will stay near their post tarrif price, especially the goods which are still selling units at the rate they were before tariffs.
I would hope the respect of foreign IP going into affect in China wouldn't happen on Trump's watch, but, regardless of that it needs to happen.