That is true in so far as that is part of the hollowing out, dumbing down, and overall disenfranchising of average Americans by their own elite.
Trade War with China
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That is true in so far as that is part of the hollowing out, dumbing down, and overall disenfranchising of average Americans by their own elite.
【我国决定对部分亚太国家进口大豆下调关税至0】国务院关税税则委员会宣布自7月1日起，将下调部分亚太国家的大豆进口关税，并公布了其他关税下调的产品清单。关税下调清单中囊括了农产品、化工原料、医疗原料、塑料制品、橡胶轮胎、纺织品等多种进口商品。其中对大豆的进口关税从3%下调至0。
Just came out of People's Daily's official Weibo account
"[China decides to lower tariffs on soybeans from a number of Asia Pacific countries to 0] Tariffs committee of the State Council announces that from 1 July, China will lower import tariffs on soybean from a number of Asia Pacific countries, and a list of other goods that will have their tariffs lowered. The list includes agricultural products, petrol chemical commodities, pharmaceutical commodities, plastic goods, rubber tyres, textiles. Out of these products, tariffs on soybeans will be lowered from 3% to 0%."
Just came out of People's Daily's official Weibo account
"[China decides to lower tariffs on soybeans from a number of Asia Pacific countries to 0] Tariffs committee of the State Council announces that from 1 July, China will lower import tariffs on soybean from a number of Asia Pacific countries, and a list of other goods that will have their tariffs lowered. The list includes agricultural products, petrol chemical commodities, pharmaceutical commodities, plastic goods, rubber tyres, textiles. Out of these products, tariffs on soybeans will be lowered from 3% to 0%."
Hendrik_2000
Lieutenant General
The push back is slowly gaining momentum Using tariff to rectify trade imbalance is like hitting mosquito with sledge hammer.You never know what is the collateral damage. Harley Davidson is the first but many more will follow. Finger pointing just started. Harley is great company. I feel bad for them
The Latest: Ryan blasts US trade policy over Harley shift
FILE - In this April 26, 2017, file photo, rows of motorcycles are behind a bronze plate with corporate information on the showroom floor at a Harley-Davidson dealership in Glenshaw, Pa. Harley-Davidson, facing rising costs from new tariffs, will begin shifting the production of motorcycles heading for Europe from the U.S. to factories overseas. (AP Photo/Keith Srakocic, File)
WASHINGTON (AP) — The Latest on President Donald Trump and Harley-Davidson (all times local):
11:20 a.m.
House Speaker Paul Ryan is criticizing Trump administration trade policy after Harley-Davidson cited retaliatory tariffs as why it's shifting some production of motorcycles overseas.
The Wisconsin Republican tells reporters Tuesday he doesn't think tariffs "are the right way to go." He didn't mention President Donald Trump by name but says tariffs are "basically taxes."
Trump has imposed tariffs on aluminum and steel imported from Europe and elsewhere. Those countries retaliated with tariffs of their own.
Trump has previously cited the motorcycle maker as an example of a U.S. company hurt by foreign trade barriers. Tuesday he threatened Harley-Davidson, saying shifting production would be "the beginning of the end."
Ryan says the U.S. should counter unfair trading practices, but says, "There are better tools than tariff increases."
Harley-Davidson is based in Milwaukee.
Hundreds of trade groups rally behind effort to limit Trump’s tariff power
‘As you know, Article I of the Constitution assigns the Congress exclusive authority to regulate foreign trade and levy taxes, including tariffs’
By ASIA TIMES STAFF JUNE 27, 2018 1:24 AM (UTC+8
A tidal wave of outrage against US President Donald Trump’s trade policy is forming, and through representatives in Congress, businesses are arguing, they have a constitutionally mandated means to strip the president of unlimited authority to disrupt global trade.
Hundreds of national and state business associations have voiced support for legislation in the Senate that would limit the powers some lawmakers say Trump is abusing with recent trade action.
“As you know, Article I of the Constitution assigns the Congress exclusive authority to regulate foreign trade and levy taxes, including tariffs,” the groups, which include the US Chamber of Commerce, to the Senate.
“The Congress used this power to delegate to the President the authority to impose tariffs, without Congressional oversight, to safeguard national security in the Trade Expansion Act of 1962. While the President should still have this type of authority, the current circumstances highlight the need for Congress to ensure that the authority will be used, as intended by the Congress, in the overall national interest,” the letter said.
The letter went on to voice support for legislation introduced earlier this month by Republican Senator Bob Corker, which would place some limits on executive branch trade authority.
“While we all agree on the need to ensure the international trade system is fair for American workers, companies and consumers, unfortunately, the administration is abusing the Section 232 authority delegated to the president by Congress,” in an address to Congress several weeks ago.
“Making claims regarding national security to justify what is inherently an economic question not only harms the very people we all want to help and impairs relations with our allies but also could invite our competitors to retaliate. If the president truly believes invoking Section 232 is necessary to protect the United States from a genuine threat, he should make the case to Congress and to the American people and do the hard work necessary to secure congressional approval.”
The Latest: Ryan blasts US trade policy over Harley shift
FILE - In this April 26, 2017, file photo, rows of motorcycles are behind a bronze plate with corporate information on the showroom floor at a Harley-Davidson dealership in Glenshaw, Pa. Harley-Davidson, facing rising costs from new tariffs, will begin shifting the production of motorcycles heading for Europe from the U.S. to factories overseas. (AP Photo/Keith Srakocic, File)
WASHINGTON (AP) — The Latest on President Donald Trump and Harley-Davidson (all times local):
11:20 a.m.
House Speaker Paul Ryan is criticizing Trump administration trade policy after Harley-Davidson cited retaliatory tariffs as why it's shifting some production of motorcycles overseas.
The Wisconsin Republican tells reporters Tuesday he doesn't think tariffs "are the right way to go." He didn't mention President Donald Trump by name but says tariffs are "basically taxes."
Trump has imposed tariffs on aluminum and steel imported from Europe and elsewhere. Those countries retaliated with tariffs of their own.
Trump has previously cited the motorcycle maker as an example of a U.S. company hurt by foreign trade barriers. Tuesday he threatened Harley-Davidson, saying shifting production would be "the beginning of the end."
Ryan says the U.S. should counter unfair trading practices, but says, "There are better tools than tariff increases."
Harley-Davidson is based in Milwaukee.
Hundreds of trade groups rally behind effort to limit Trump’s tariff power
‘As you know, Article I of the Constitution assigns the Congress exclusive authority to regulate foreign trade and levy taxes, including tariffs’
By ASIA TIMES STAFF JUNE 27, 2018 1:24 AM (UTC+8
A tidal wave of outrage against US President Donald Trump’s trade policy is forming, and through representatives in Congress, businesses are arguing, they have a constitutionally mandated means to strip the president of unlimited authority to disrupt global trade.
Hundreds of national and state business associations have voiced support for legislation in the Senate that would limit the powers some lawmakers say Trump is abusing with recent trade action.
“As you know, Article I of the Constitution assigns the Congress exclusive authority to regulate foreign trade and levy taxes, including tariffs,” the groups, which include the US Chamber of Commerce, to the Senate.
“The Congress used this power to delegate to the President the authority to impose tariffs, without Congressional oversight, to safeguard national security in the Trade Expansion Act of 1962. While the President should still have this type of authority, the current circumstances highlight the need for Congress to ensure that the authority will be used, as intended by the Congress, in the overall national interest,” the letter said.
The letter went on to voice support for legislation introduced earlier this month by Republican Senator Bob Corker, which would place some limits on executive branch trade authority.
“While we all agree on the need to ensure the international trade system is fair for American workers, companies and consumers, unfortunately, the administration is abusing the Section 232 authority delegated to the president by Congress,” in an address to Congress several weeks ago.
“Making claims regarding national security to justify what is inherently an economic question not only harms the very people we all want to help and impairs relations with our allies but also could invite our competitors to retaliate. If the president truly believes invoking Section 232 is necessary to protect the United States from a genuine threat, he should make the case to Congress and to the American people and do the hard work necessary to secure congressional approval.”
Jura The idiot
General
now noticed the tweet
China is closely watching the US' reported plan to restrict Chinese investments and will evaluate its potential impact on Chinese companies, China's commerce ministry said on Tuesday
China is closely watching the US' reported plan to restrict Chinese investments and will evaluate its potential impact on Chinese companies, China's commerce ministry said on Tuesday
I wonder what would happen if EU chose to put all their tariffs exclusively on, say, Boeing products and services. To get to same value as 20% tariffs on 44 billion worth of car sales to europe, that'd amount to some 80% tariffs on 11.5 billion worth of Boeing sales to Europe. And then what would happen if China would do the same with their 12 billion worth of sales from Boeing. Would then a 23.5 billion worth markets disappear? And how much hurt would that do to Boeing who totals as much as 92 billion of revenue each year, worldwide?
Probably 80% is overkill in order to stop the product being competitive, even with possible heavy US govt. subsidies. Perhaps 40% or 30% tariffs would be enough. In which case the remainder of tariff sums could be applied to another hand picked large company, perhaps one whose revenue stream is even more interconnected with EU.
So instead of going all across the board with tariffs, they'd be used surgically to seriously wound/kill off large US companies, one by one. And then after some time, if the company ceases to do major ops in EU, the tariffs could be (temporarily) lifted and placed on another company in line.
I am not saying any of this is smart for EU, nor am I advocating anything, I am merely asking what would happen if such course of action is taken. I find all these tariff wars silly. We're not in 1800s. There should be fewer tariffs around the world, not more.
if there's no major surprise, the trade war is going to start on July 6. the stock market and the forex market in China have already priced that in. the question now is after the first 50 billion, will it escalate? if it does, and escalate from trade into finance, then we may see the first man made economic crisis and recession.
The truth of the matter is that China's investment on US tech is remarkably small, and so is US exports of technology to China. The harm that Trump has down is to sour the investment climate for US tech, which hurts the US in the long run, and spur US companies to further move production facilities off shore.
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