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Tariffs Catch-All
- Thread starter BubbaOtis
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Lutnick, like Trump, is basing his position on trade deficits. The elimination of all tariffs with all countries wouldn’t fix our trade deficits (which this administration views as a problem….I think it’s irrelevant.) But a good agreement to these fools is one which would greatly reduce or eliminate trade deficits which is complete fantasy and a ridiculous basis for trade policy.
heelinhell
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Remember when Mondale ridiculed Gary Hart's economic plan in 1984 when he asked, "Where's the beef" ?
good times...
Here's the 2025 reprise
www.rawstory.com
good times...
Here's the 2025 reprise
'Where are the deals?' MSNBC host roasts Trump over epic failure to deliver vow
President Donald Trump and his administration officials promised Americans he would have 90 tariff deals done within 90 days. It's been 63 days since "Liberation Day," which Trump declared on April 2. He has a little under four weeks left to meet the goal — and MSNBC host Katy Tur remarked there...
www.rawstory.com
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“… Until now, Xi had resisted getting on the phone with Trump as the Chinese leader wanted the White House to first dial down its pressure on Beijing, according to people close to China’s decision-making.
However, faced with mounting economic pressure, Xi also has to prevent the Chinese economy from falling into an abyss. Managing relations with Washington is key to that.
In an initial sign that Beijing was engaged with Washington in arranging the call, Chinese Foreign Minister Wang Yi met with David Perdue, the U.S. ambassador to Beijing, on Tuesday. Wang urged the U.S. to “create the necessary conditions” for bilateral relations to get back on the right track.
Then on Thursday, Chinese Vice President Han Zheng also met a U.S. delegation for a “Track II” dialogue, or discussions among nongovernmental groups on both sides, saying that bilateral relations are now at “a crucial juncture.”…”
superrific
Legend of ZZL
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Too bad it's not true.
Big boost to the GOP in their budget negotiations…
Also of note: that report also said the tariffs will cause the economy to shrink and prices to rise.
lawtig02
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“… Until now, Xi had resisted getting on the phone with Trump as the Chinese leader wanted the White House to first dial down its pressure on Beijing, according to people close to China’s decision-making.
However, faced with mounting economic pressure, Xi also has to prevent the Chinese economy from falling into an abyss. Managing relations with Washington is key to that.
In an initial sign that Beijing was engaged with Washington in arranging the call, Chinese Foreign Minister Wang Yi met with David Perdue, the U.S. ambassador to Beijing, on Tuesday. Wang urged the U.S. to “create the necessary conditions” for bilateral relations to get back on the right track.
Then on Thursday, Chinese Vice President Han Zheng also met a U.S. delegation for a “Track II” dialogue, or discussions among nongovernmental groups on both sides, saying that bilateral relations are now at “a crucial juncture.”…”
superrific
Legend of ZZL
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Rare Earths are going to be the new oil.
Saudi Arabia has always faced something of a tightrope: they want to sell their oil at high prices, obviously, but if prices get too high they invite more drilling or companies to build alternatives to fossil fuels (e.g. EVs). So their strategy has been, over the years, to yo-yo oil prices. They raise them for a few months or a year, and just when people start talking about weaning from foreign oil, they lower the prices again.
This is a six month reprieve by China. Same pattern, I think.
Saudi Arabia has always faced something of a tightrope: they want to sell their oil at high prices, obviously, but if prices get too high they invite more drilling or companies to build alternatives to fossil fuels (e.g. EVs). So their strategy has been, over the years, to yo-yo oil prices. They raise them for a few months or a year, and just when people start talking about weaning from foreign oil, they lower the prices again.
This is a six month reprieve by China. Same pattern, I think.
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While these seem to say a lot, I don't believe any of us really know trump's goals.
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China’s Exports to U.S. Suffer Biggest Decline Since 2020
Shipments to the rest of the world jump, but overall export growth slows
—> https://www.wsj.com/economy/chinas-...3?st=yC6rTP&reflink=desktopwebshare_permalink“A U.S.-China trade truce wasn’t enough to stem a sharp drop in shipments from China to America last month, a sign of the havoc that President Trump’s tariffs have wrought on trade between the world’s two largest economies.
Chinese shipments to the U.S. sank 35% from a year earlier in May, according to government data released Monday. It was the biggest percentage decline in U.S.-bound shipments since February 2020, when exports were hit by Covid-induced shutdowns, and followed a 21% drop in U.S.-bound exports in April.
As was the case last month, the decline in exports to the U.S. was offset by a jump in outbound shipments to other regions of the world, including Southeast Asia and the European Union. Overall, China’s exports rose 4.8% in dollar-denominated terms in May from a year earlier, though that figure was weaker than the 5.6% expected by economists and down from April’s 8.1% increase.…”
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“… Following the trade truce in Geneva last month, some U.S. importers and Chinese manufacturers have raced to ship previously-frozen orders before the 90-day reprieve ends. Freight bookings from China to U.S. ports and container prices, which had fallen under the escalating trade war, surged after the truce.China’s Exports to U.S. Suffer Biggest Decline Since 2020
Shipments to the rest of the world jump, but overall export growth slows
“A U.S.-China trade truce wasn’t enough to stem a sharp drop in shipments from China to America last month, a sign of the havoc that President Trump’s tariffs have wrought on trade between the world’s two largest economies.
Chinese shipments to the U.S. sank 35% from a year earlier in May, according to government data released Monday. It was the biggest percentage decline in U.S.-bound shipments since February 2020, when exports were hit by Covid-induced shutdowns, and followed a 21% drop in U.S.-bound exports in April.
As was the case last month, the decline in exports to the U.S. was offset by a jump in outbound shipments to other regions of the world, including Southeast Asia and the European Union. Overall, China’s exports rose 4.8% in dollar-denominated terms in May from a year earlier, though that figure was weaker than the 5.6% expected by economists and down from April’s 8.1% increase.…”
But many executives have remained cautious, betting that the trade war is far from over. A government and private gauge of manufacturing activity in China showed ongoing contraction in new export orders in May….”
heelslegup
Esteemed Member
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If it happens, the "deal" will be rare earths for semiconductors (perhaps six month old Nvidia ones like in Giden Admin).