Trump is saying he’s going to ramp up tariffs on Chinese goods. Complains trade talks not moving fast enough. This just before a large Chinese delegation is due to come to Washington to wrap up talks.
“For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billion Dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%.”
I find it interesting to see a President not knuckle down to a foreign power. The next 2 quarters will be a real test of statesmanship for both countries. Can Trump hold his resolve? I think he will.
Kinda weird that the president is bragging on twitter for increasing the taxes people in the US pay for goods. Also, is he claiming increasing taxes is good for the economy?
does this mean the price we have to pay for bikes made in China is going up again?//
You mean the bikes and wetsuits that used to be made in China, now made in Vietnam, and by the same Chinese companies that just moved their production over there?? It is going to be a game of whack-a-mole, tax china, they pop up in Vietnam, tax them, it will be somewhere else with cheap labor. Of course Trump is too stupid to see this, and of course if he did, he wouldn’t really care. He is happy if he gets to crow about something, whether it is a win for us or not. I put a short on the market a few days ago, so I hope Kay is right and I can cash it out soon…
Did you miss the part where I said it was Chinese companies still making all this stuff?? Ok, the locals get a job and get their $10 a day, but all that money is still going back to Chinese companies. And in the end, they may even make more money this way, Chinese labor has been getting more expensive since they now have an actual middle class.
As to their thievery, yes something has to be done. Lets try and use a scalpel instead of a sledgehammer though…
This morning Dow futures were up nearly 1% (over 200 points). They now show down over 350 points, so a 550+ poi t swing. Thanks President Dumbass.
Really? They were open this morning? Must have changed trading hours on me this weekend.
Pro tip…Dow is for retail muppets
Pro tip. Know that futures open Sunday night… They are called pre-market for a reason.
Oh, and I guess me and my 2 comma balance are Muppets. Thanks Kermit.
Weird flex, but Ok.
Can anyone that has money in the market, except shorts, complain about the trajectory since Trump has taken office? Say what you want about Everything else he has done, but complaining about a 550 point swing in pre-market DOW (which windy correctly pointed out is Fool’s gold) while reaping its rewards is a bit rich, no?
Can anyone that has money in the market, except shorts, complain about the trajectory **since Trump has taken **office? Say what you want about Everything else he has done, but complaining about a 550 point swing in pre-market DOW (which windy correctly pointed out is Fool’s gold) while reaping its rewards is a bit rich, no?
Can anyone that has money in the market, except shorts, complain about the trajectory **since Trump has taken **office? Say what you want about Everything else he has done, but complaining about a 550 point swing in pre-market DOW (which windy correctly pointed out is Fool’s gold) while reaping its rewards is a bit rich, no?
Didn’t you mean to say “since Obama took office”?
I haven’t said many positive things about Trump so you nailed this one.
This morning Dow futures were up nearly 1% (over 200 points). They now show down over 350 points, so a 550+ poi t swing. Thanks President Dumbass.
Really? They were open this morning? Must have changed trading hours on me this weekend.
Pro tip…Dow is for retail muppets
Pro tip. Know that futures open Sunday night… They are called pre-market for a reason.
Oh, and I guess me and my 2 comma balance are Muppets. Thanks Kermit.
Weird flex, but Ok.
Can anyone that has money in the market, except shorts, complain about the trajectory since Trump has taken office? Say what you want about Everything else he has done, but complaining about a 550 point swing in pre-market DOW (which windy correctly pointed out is Fool’s gold) while reaping its rewards is a bit rich, no?
Did I complain about the point swing? No. I prefer to buy my etfs and mutual funds on a discount. He is Pres. Dumbass for intersecting pointless commentary via twitter. It merely intersects unnecessary volatility into the market.
This morning Dow futures were up nearly 1% (over 200 points). They now show down over 350 points, so a 550+ poi t swing. Thanks President Dumbass.
Really? They were open this morning? Must have changed trading hours on me this weekend.
Pro tip…Dow is for retail muppets
Pro tip. Know that futures open Sunday night… They are called pre-market for a reason.
Oh, and I guess me and my 2 comma balance are Muppets. Thanks Kermit.
A) that’s chump change from a trading perspective (not a personal dig on you, that’s a good healthy balance to have, but being worth X doesn’t make you knowledgeable or not a muppet)
B) you didn’t know the reference
C) you are retail
D) you referenced the dow
I just want to thank Trump for giving me such a quick out of my short on the S&P. I sold this morning when it was down 33, and it looks like the usual tweet overreaction, now coming back a bit off the lows of the day. Back to 100% out of the market, I still just dont trust this guy, or this market…
I presume it will go back to its grinding up for awhile, will be looking for another short oppertunity once we have some more up days to possible records…
Did you miss the part where I said it was Chinese companies still making all this stuff?? Ok, the locals get a job and get their $10 a day, but all that money is still going back to Chinese companies. And in the end, they may even make more money this way, Chinese labor has been getting more expensive since they now have an actual middle class.
As to their thievery, yes something has to be done. Lets try and use a scalpel instead of a sledgehammer though…
This isn’t about money. It’s about power and the endgame is to use a sledgehammer (e.g. completely disengage from trade). Everything leading up to that point is just political theater.
Kinda weird that the president is bragging on twitter for increasing the taxes people in the US pay for goods. Also, is he claiming increasing taxes is good for the economy?
You don’t think we should tax imports? Great. I agree and so do most mainstream economists. However, the onus here is really on China. The chart below doesn’t even come close to estimating the “effective” tariff rate when you take into account non-tariff barriers imposed by China. Even if you did account for that, it wouldn’t come close to accounting for IP theft and forced technology transfer. The onus here is really on China, not the U.S.
