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Trump's trade war is economic suicide


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Report: China buys US soybeans for the first time after the trade truce

Report: China buys US soybeans for the first time after the trade truce

 12 December 2018 10:43 PM
Direct : Press report said that China has purchased at least 500 thousand tons of soybean US soybean import in the first commercial operation after the truce between the two largest economies in the world.

The move is one of the clearest signs of a lull in the trade dispute between China and the United States after the leaders' meeting on the sidelines of the G-20 summit.

China has bought US soybeans for at least $ 180 million, sources familiar with the matter told Reuters on Wednesday.

US President Donald Trump has said China is back in the market and is buying huge amounts of soybeans.

The US president said another meeting with China is likely to be held in the coming period, with signs of progress in a trade deal between Washington and Beijing.

 
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US Commerce Secretary: possible possible settlement with Beijing on trade

US Commerce Secretary: possible possible settlement with Beijing on trade

07 Jan 2019 08:58 PM
Direct : US Secretary of Commerce said that the United States and China may reach a good settlement of the dispute on current trade issues while agreeing on key issues and their implementation will be difficult.

"I think there is a very good chance that we will have a reasonable settlement of China and the United States on the issue titles, which are key to resolving key issues," Wilbur Ross said in an interview with CNBC on Monday.

"The talks with Beijing will help determine whether trade disputes between the two largest economies in the world can be resolved through negotiations," Ross said.

China and the United States began trade talks on Monday in a bid to resolve outstanding issues between the world's two largest economies after agreeing in November to a 90-day truce.

US President Donald Trump said yesterday he was optimistic about trade talks, saying he believed China had a motive for a deal with the United States because of a slowdown in its economy.

 
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American Farmers Confront a Mental Health Crisis

(Bloomberg) -- The worst agricultural downturn since the 1980s is taking its toll on the emotional well-being of American farmers.

In Kentucky, Montana and Florida, operators at Farm Aid’s hotline have seen a doubling of contacts for everything from financial counseling to crisis assistance. In Wisconsin, Dale Meyer has started holding monthly forums in the basement of his Loganville church following the suicide of a fellow parishioner, a farmer who’d fallen on hard times. In Minnesota, rural counselor Ted Matthews says he’s getting more and more calls.

“Can you imagine doing your job and having your boss say ‘well you know things are bad this year, so not only are we not going to pay you, but you owe us’,” Matthews said by telephone. “That’s what’s happened with farmers.’’

Glutted grain markets have sparked a years-long price slump made worse by a trade war with top buyer China. As their revenues decline, farmers have piled on record debt -- to the tune of $427 billion. The industry’s debt-to-income ratio is the highest since the mid 1980s, when Willie Nelson, Neil Young and John Mellencamp organized the first Farm Aid concert.

So dire are conditions in farm country that Senator Joni Ernst, an Iowa Republican, and Senator Tammy Baldwin, a Wisconsin Democrat, pushed for mental-health provisions to be included in the 2018 Farm Bill. The legislation allocated $50 million over five years to address the shortfall of such services in rural areas.

Ernst said she spoke with a woman whose farmer husband died by suicide. While there’s been progress on a trade resolution, the ruckus “has been very, very hard on our farmers,” she said in a telephone interview. “We’ve had such a depressed farm economy.”

Few agricultural states have been hit harder than Baldwin’s Wisconsin, whose state license plates proclaim it as “America’s Dairyland.” Wisconsin lost almost 1,200 dairy farms between 2016 and 2018, government data show.

Smaller operators have been the most affected, she said by telephone. The mental-health provisions in the farm bill aren’t for a “free trip to the psychiatrist,” but rather about “community looking out for each other.”

There was a similar legislative effort in 2008 during the financial crisis, but the program was never funded because prices recovered, said Jennifer Fahy, communications director for Farm Aid, which advocated for the measures.

Two-thirds of the calls to Farm Aid’s hotline originated from growers who have been farming for a decade or more. They were evenly distributed among fruit and vegetable producers, livestock, grain and oilseed and dairy, the data show.

In 2018, the number of calls rose 109 percent to 1,034, increasing in the last five months of the year. In November, crisis assistance accounted for 78 percent of contacts to the hotline.

“The peak of the crisis was in 1986,” said Allen Featherstone, an agricultural economist at Kansas State University in Manhattan. “It is the worst since then by far.”

Mike Rosmann, another of the few mental health counselors in rural America, echoed the sentiments. A partially retired fourth-generation farmer, Rosmann rents out his Iowa property and maintains land under the conservation reserve program.

During the 1980s’ farm crisis, the hotlines, counseling and other services that he participated in became the template for the provisions in the farm bill that Baldwin and Ernst advocated for, he said.

“The retaliatory tariffs by China have hurt soybean exports,” Rosmann said. “They’ve hurt our relations with other countries as well to a lesser extent, partly just because of the skepticism that surrounds the reliability of what the U.S. is doing.”

Still, farmers support Trump, in part due to his public support for corn-based ethanol, Rosmann said. Last week, the Environmental Protection Agency advanced a plan meant to expand the U.S. ethanol market, the first step in fulfilling a promise Trump made in Iowa last fall. About $8 billion in farmer aid has also taken some of the sting out of the trade war.

Some of that goodwill may be eroded by a 2020 budget proposal that would cut “overly generous” Department of Agriculture subsidies. The 35-day partial government shutdown earlier this year slowed implementation of the program.

Farmers have accrued so much debt because by nature they are optimistic, said Scott Marlow, senior policy specialist at the Rural Advancement Foundation International-USA in Pittsboro, North Carolina.

 

Their fierce independence and deep connection with the land can become an economic disadvantage, Marlow said. “They can be driven far further than most of us would be before they would call it quits, to the point of getting off-farm jobs to be able to continue farming, subsidizing the farming operation with off-farm income, driving themselves extremely hard.”

Sue Judd in Wisconsin set up a suicide prevention group for farmers and those in the rural community after her brother, a hobby farmer, killed himself, she said. Her group’s aim is to convince farmers that it’s all right to seek help and that they’re not alone.

Meyer, 71, who retired from law enforcement, was on the St. Peter’s Lutheran Church dart team with the parishioner who died by suicide. He says another parishioner who’s a farmer confided to him that he also struggled with stress. Meyer says that his aim with the groups is to “give them some hope if we can.” In the last meeting, 59 people showed up to share food, stories and hear financial advice and how to deal with stress compared with 45 in January.

Farmers’ spirits may lift if U.S. negotiators can broker a favorable deal with China soon. For now though, they’re having to cope with soybean prices of about $9 a bushel, almost half of what they were getting in the heyday of 2012. Chicago corn futures have followed a similar path to be trading at about $3.70 from a peak of $8.49 in 2012.

“If the corn price went up $3 a bushel and beans went up $5 my phone would ring a fourth as much as it is now,” Matthews said during a road trip. “Prices are really low and they’re waiting for what are they are going to do. Are they going to lift the tariffs? And so all of those things they’re constantly looking at.”

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U.S. whiskey exports dry up as tariffs bite

(Reuters) - American whiskey exports slumped in the second half of 2018, taking a blow from higher duties by the country's trading partners following President Donald Trump's tariffs on steel and aluminum imports, an industry group said on Thursday.

Canada, China, Mexico and the European Union slapped import duties ranging from 10 percent to 25 percent on U.S whiskey and bourbon last year, resulting in a 11 percent drop in U.S. whiskey exports in the second half, according to a report from the Distilled Spirits Council.

For the first six months of 2018, whiskey exports grew 28 percent compared to the same period in 2017, partly helped by companies like Jack Daniels maker Brown-Forman Corp, fast-tracking shipments overseas, especially to Europe, before the tariffs kicked in.

Overall for the full-year 2018, whiskey exports rose 5.1 percent to $1.18 billion, a significant drop from the 16 percent rise seen in 2017.

Exports to the European Union fell 13.4 percent in the second half of the year, after rising 33 percent during the first six months.

The European Union, which imposed a 25 tariff on American whiskey, is the largest market for the liquor, accounting for nearly 60 percent of total exports, according to the Council.

Earlier in March, Brown-Forman said absorbing the costs of tariffs in key European markets was the primary reason for the decline in its third-quarter gross profit margin.

The company also said its sales would take a hit in 2019 if the tariffs were to remain in place.

"The damage to American whiskey exports is now accelerating, and this is collateral damage from ongoing global trade disputes," Distilled Spirits Council Chief Executive Officer Chris Swonger said.

Total U.S. spirits exports rose 9.5 percent to $1.8 billion in 2018, but also slowed from 2017, the report showed.

 

Now that hurts...

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3 minutes ago, bostonangler said:

U.S. whiskey exports dry up as tariffs bite

(Reuters) - American whiskey exports slumped in the second half of 2018, taking a blow from higher duties by the country's trading partners following President Donald Trump's tariffs on steel and aluminum imports, an industry group said on Thursday.

Canada, China, Mexico and the European Union slapped import duties ranging from 10 percent to 25 percent on U.S whiskey and bourbon last year, resulting in a 11 percent drop in U.S. whiskey exports in the second half, according to a report from the Distilled Spirits Council.

For the first six months of 2018, whiskey exports grew 28 percent compared to the same period in 2017, partly helped by companies like Jack Daniels maker Brown-Forman Corp, fast-tracking shipments overseas, especially to Europe, before the tariffs kicked in.

Overall for the full-year 2018, whiskey exports rose 5.1 percent to $1.18 billion, a significant drop from the 16 percent rise seen in 2017.

Exports to the European Union fell 13.4 percent in the second half of the year, after rising 33 percent during the first six months.

The European Union, which imposed a 25 tariff on American whiskey, is the largest market for the liquor, accounting for nearly 60 percent of total exports, according to the Council.

Earlier in March, Brown-Forman said absorbing the costs of tariffs in key European markets was the primary reason for the decline in its third-quarter gross profit margin.

The company also said its sales would take a hit in 2019 if the tariffs were to remain in place.

"The damage to American whiskey exports is now accelerating, and this is collateral damage from ongoing global trade disputes," Distilled Spirits Council Chief Executive Officer Chris Swonger said.

Total U.S. spirits exports rose 9.5 percent to $1.8 billion in 2018, but also slowed from 2017, the report showed.

 

Now that hurts...

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Freedom wish is prolly' paying close attention to this one.............  :) 

 

   pp

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China tariffs could force 'widespread store closures' and put $40 billion in sales at risk

The trade war with China could cause prices to rise on everything from toys to clothing, but it also could lead to “widespread store closures,” according to a report by UBS

The investment bank's analysis said tariffs on Chinese imports could put $40 billion of sales and 12,000 stores at risk.

“The market is not realizing how much brick & mortar retail is incrementally struggling and how new 25% tariffs could force widespread store closures,” UBS analyst Jay Sole wrote in the report. "We think potential 25% tariffs on Chinese imports could accelerate pressure on these company’s profit margins to the point where major store closures become a real possibility.”

Earlier this month, the Trump administration increased U.S. tariffs on $200 billion in Chinese imports from 10% to 25%. The president has also threatened to add a 25% tariff on almost all the remaining $325 billion in goods shipped in from China.

UBS was already anticipating more store closures and calculated 20,710 clothing stores need to close by 2026, in an April report.

“Tariffs could cause over half of this change in one year, rather than four,” Sole wrote, adding this is just publicly traded companies and doesn’t include impact on private companies.

Fred's store closings: Retailer announces 104 more stores to shutter in summer, see the list

Store closings 2019: CVS, Payless and Victoria's Secret are some of the brands closing nearly 6,500 stores

Even before the risk of tariffs, retailers have been struggling this year and have announced more closings in the first 20 weeks of 2019 than all of last year, according to Coresight Research.

The global market research firm tracked the 5,864 closings in 2018, which included all Toys R Us stores and hundreds of Kmart and Sears locations. The record year for closings was 2017 with 8,139 shuttered stores.

Coresight has tracked nearly 6,400 closing announcements this year, but in a new report released Friday estimates "12,000 stores could be shuttered by the end of the year."

Impact of increased tariffs

Retailers say they are closely monitoring the trade situation and how a potential fourth wave of tariffs could impact prices.

“We’re going to continue to do everything we can to keep prices low,” said Brett Biggs, Walmart’s chief financial officer and executive vice president, during a call with reporters Thursday. “However, increased tariffs will lead to increased prices we believe for our customers.”

The Children’s Place is seeing a “minimal margin impact” on the tariffs that went into effect May 10, said Mike Scarpa, the company's chief financial officer and chief     operating officer, during a May 15 call with analysts.

But, Scarpa said, "additional tariffs on the remaining imported products from China would have an adverse impact on our profitability.”

Macy’s chairman and CEO Jeff Gennette said in a May 14 call with analysts that  increased tariffs has already had some impact on the company's furniture business.

However, if an additional increase is placed on all Chinese imports that would "have an impact on both our private and our national brands," he said.

“We would work with our manufacturing and brand partners to size and minimize the impact to our customers,” Gennette said. “We are hopeful that trade talks between U.S. and China will continue productively and the trade actions between the two countries will deescalate.”

https://www.yahoo.com/news/china-tariffs-could-force-apos-093006501.html

 

No big deal these are low paying jobs... Who needs them? Everyone will get executive jobs because this is the greatest economic idea in history... It is huge!

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‘This is unfathomable’: American shoe brands unite against Trump

More than 170 footwear companies signed a letter sent to President Trump urging him to not go ahead with extra tariffs on $300 billion of Chinese goods. The letter was signed by footwear industry heavyweights such as Nike (NKE), Adidas (ADDYY) Crocs (CROX), and Under Armour (UA) among others.

“As leading American footwear companies, brands and retailers, with hundreds of thousands of employees across the U.S., we write to ask that you immediately remove footwear from the most recent Section 301 list published by the United States Trade Representative on May 13, 2019. The proposed additional tariff of 25 percent on footwear would be catastrophic for our consumers, our companies, and the American economy as a whole,” the letter states.

Trump raising tariffs on $200 billion on Chinese goods on May 10 has further stoked the flames of the trade war between the U.S. and China. Shortly after China retaliated with tariffs on $60 billion of American goods, set to take effect on June 1.

The escalation of tensions has sparked debate around the world about the effectiveness of the tariffs and called into question who ultimately will pay the tariffs — companies or consumers.

The Footwear Distributors and Retailers of America (FDRA) argues that additional tariffs on footwear will hurt the American consumer, especially those who shop at retailers such as Walmart (WMT) and Target (TGT) since brands sold at those retailers rely heavily on Chinese manufacturing.

“High footwear tariff rates fall disproportionately on working class individuals and families. While U.S. tariffs on all consumer goods average just 1.9 percent, they average 11.3 percent for footwear and reach rates as high as 67.5 percent. Adding a 25 percent tax increase on top of these tariffs would mean some working American families could pay a nearly 100 percent duty on their shoes. This is unfathomable,” the letter continued.

An estimated 72% of footwear and 84% of travel goods are produced in China, and footwear is one of the highest duty products in the marketplace today, according to FDRA president and CEO Matt Priest.

However, one company that did not participate in the letter was New Balance — a company that manufactures a portion of its shoes in the United States. The New England-headquartered company came under fire in 2016 when a quote from a then New Balance executive was seen as an endorsement for Trump.

https://finance.yahoo.com/news/this-is-unfathomable-american-shoe-brands-unite-against-trump-195135138.html

 

Now at least you know you can buy sneakers by a good old New England company right in the heart of liberal land!!! Isn't that ironic?

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Edited by bostonangler
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Tennessee whiskey exports slump amid Trump tariff turmoil, report says

Tennessee whiskey exports fell more than 30% in the fourth quarter as the sector faces headwinds from tariffs. 

Tennessee exports dropped overall by 5% in the last three months of 2018 as automotive sales slowed and companies faced retaliatory tariffs from China and the European Union, according to Middle Tennessee State University's Tennessee Trade Report 4th Quarter 2018.

Whiskey exports, which have climbed steadily in past years, dropped to $135 million from $197 million, according to the report.

"The issue is how long we can expect the state’s sluggish performance to continue," the report said. "A real wild card in the deck, is the future of retaliatory tariffs and whether they expand. The bottom line is that 2019 appears ready to provide plenty of obstacles for Tennessee’s exporters."

Trump's trade war with China continues

The drop in state exports comes as U.S. negotiations over tariffs with China have stalled. President Donald Trump announced earlier this month the U.S. would raise tariffs on $200 billion worth of Chinese products and China since announced it would retaliate with increased tariffs on nearly $60 billion worth of American products. 

More: Walmart: Tariffs will increase prices for shoppers

More: Tariffs from US-China trade war force small businesses to strategize to preserve profits

Brown-Forman Corp., owner of the Jack Daniel's brand, reported a 3% sales gain in the most recent quarter but said the growth was negatively affected by lower prices in some markets meant to offset new tariffs. The impact was mostly felt in Europe, according to the company's report. 

https://www.yahoo.com/finance/news/tennessee-whiskey-exports-slump-amid-145703942.html

 

 

Ouch...

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Trump Tariffs Starting To Take Devastating Toll On China

May 20, 2019

2019-05-20_9-59-37.jpg

Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world.

Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters.

“We are complying with the order and reviewing the implications,” the Google spokesperson said.

“For users of our services, Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices,” the spokesperson said, without giving further details.

The suspension could hobble Huawei’s smartphone business outside China as the tech giant will immediately lose access to updates to Google’s Android operating system. Future versions of Huawei smartphones that run on Android will also lose access to popular services including the Google Play Store and Gmail and YouTube apps.

“Huawei will only be able to use the public version of Android and will not be able to get access to proprietary apps and services from Google,” the source said.

The Trump administration on Thursday added Huawei Technologies Co Ltd to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the company to do business with U.S. counterparts.

On Friday the U.S. Commerce Department said it was considering scaling back restrictions on Huawei to “prevent the interruption of existing network operations and equipment.” It was not immediately clear on Sunday whether Huawei’s access to mobile software would be affected.

The extent to which Huawei will be hurt by the U.S. government’s blacklist is not yet known as its global supply chain assesses the impact. Chip experts have questioned Huawei’s ability to continue to operate without U.S. help.

Details of the specific services affected by the suspension were still being discussed internally at Google, according to the source. Huawei attorneys are also studying the impact of the blacklist, a Huawei spokesman said on Friday. Huawei was not immediately reachable for further comment.

Representatives of the U.S. Commerce Department did not immediately comment.

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Huawei will continue to have access to the version of the Android operating system available through the open source license, known as Android Open Source Project (AOSP), that is available for free to anyone who wishes to use it. There are about 2.5 billion active Android devices worldwide, according to Google.

But Google will stop providing Huawei with access, technical support and collaboration involving its proprietary apps and services going forward, the source said.

Huawei has said it has spent the last few years preparing a contingency plan by developing its own technology in case it is blocked from using Android. Some of this technology is already being used in products sold in China, the company has said.

In an interview with Reuters in March, Eric Xu, rotating chairman of Huawei, struck a defiant note in anticipation of retaliatory actions by U.S. companies. “No matter what happens, the Android Community does not have any legal right to block any company from accessing its open-source license,” he said.

Popular Google apps such as Gmail, YouTube and the Chrome browser that are available through Google’s Play Store will disappear from future Huawei handsets as those services are not covered by the open source license and require a commercial agreement with Google.

But users of existing Huawei devices who have access to the Google Play Store will still be able to download app updates provided by Google. Apps such as Gmail are updated through the store, unlike operating system updates which are typically handled by phone manufacturers and telecoms carriers, which the blacklist could affect, the source said.

 

The impact is expected to be minimal in the Chinese market. Most Google mobile apps are banned in China, where alternatives are offered by domestic competitors such as Tencent and Baidu.

Huawei’s European business, its second-biggest market, could be hit as Huawei licenses these services from Google in Europe.

“Having those apps is critical for smartphone makers to stay competitive in regions like Europe,” said Geoff Blaber, vice president of research at CCS Insight.

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We are in an economic war with China.  Instead of knocking your President EVERY DAY., maybe some of you pathetic Dems should try backing him. If you do a very small amount or research you would find most of the Congress is behind President Trump in his stand against China’s aggressive economic policies.  They are a currency manipulator and they steal other countries intellectual properties.  

We are losing 500 B dollars a year to China in trade imbalances.  That is unsustainable.  

 

I guess if if someone comes to your home and steals your property you are ok with that.  You Dems are a bunch of rubbish.

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10 hours ago, yota691 said:

That's funny...that seems like it would help some folks in China that live off $300 a month making shoes. :lol:  

 

I agree... I made the mistake of buying Nike one time... I paid over $100 and they lasted about 6 months before they fell apart... I'd never buy any of that Chinese crap again.

 

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4 hours ago, bostonangler said:

 

I agree... I made the mistake of buying Nike one time... I paid over $100 and they lasted about 6 months before they fell apart... I'd never buy any of that Chinese crap again.

 

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Which is going to be difficult me thinks as they happen to be masters at tag faking ...... It says "Made in USA" while in actuality it's made in China

 

Lots of that here too... Tags stating "Made in Italy" on a lot of items (including food)...Not so....

 

There's a town in Tuscany called Prato, where Chinese are thousands literally....A friend of mine once stopped over there and he needed to get to an internet point ( that was years ago before smartphones).....Well, In Prato, Tuscany, Italy those internet points had computers with Chinese characters only....Surreal.....

Edited by umbertino
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US firms rethink China presence because of trade war: survey

Most US businesses in China are hurting from the tariffs war between the two countries, forcing some companies to relocate abroad or refocus their business, a survey showed Wednesday.

The recent poll by the American Chamber of Commerce in China and its sister organisation in Shanghai paints a gloomy picture of the business environment for American companies.

Three-quarters of the 250 respondents said increases in US and Chinese tariffs are having a "negative impact" on their business as orders were drying up owing to rising manufacturing costs and prices.

Nearly half said they have experienced non-tariff retaliatory measures in China since last year, with one in five reporting increased inspections and a similar amount enduring slower customs clearance. And 14 percent complained of other complications from increased bureaucratic oversight and regulatory scrutiny.

The United States and China have so far exchanged tariffs on more than $360 billion in two-way trade.

The poll was conducted from May 16 to May 20, days after the United States more than doubled duties on $200 billion in Chinese goods and Beijing retaliated with higher duties on $60 billion in American products.

The poll showed that 35 percent of companies would adopt an "in China for China" strategy -- sourcing within China and targeting the domestic market -- as a result of tariffs.

But more than 40 percent said they were "considering or have relocated" production facilities outside China, with Mexico and Southeast Asia the prefered alternatives for manufacturing.

Fewer than six percent said they have moved or are considering moving their factories to the United States, undercutting President Donald Trump's hopes of seeing American companies move production back home.

Trump launched the trade war last year to extract profound economic reforms from Beijing, accusing China of seeking to forge global industrial dominance through massive state intervention in markets and the theft of US technology.

- 'Structural issues' -

Despite the pain, more than half of respondents said they favour protracted trade talks to continue in order to address "structural issues allowing them to operate on a more level playing field".

Others wanted a quick deal and a return to the "pre-tariff predictability and stability" that existed before the world's two biggest economies locked horns.

After talks ended in Washington this month China's top trade negotiator Liu He said another round would take place in Beijing, but neither side has announced a date.

Trump has left open the door for reconciliation, saying he expected a "fruitful" meeting next month with his Chinese counterpart Xi Jinping at a Group of 20 summit in Japan.

Chinese foreign ministry spokesman Lu Kang said at a regular press briefing that he had not seen the survey.

But, Lu added, "even when the US threatens to impose tariffs on China, the enthusiasm for foreign investment in China has not diminished and continues to increase."

Lu said China has "no intention" to take retaliatory action against US companies because of the trade war.

"We are still committed to providing a fair, reasonable, transparent, non-discriminatory and predictable business environment for enterprises investing in China," he said

https://www.yahoo.com/news/us-firms-rethink-china-presence-because-trade-war-042926856.html

 

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For the record...Since I happen to be  a Huawei smartphone holder,  a couple of days ago I sent a mail to Huawei Italy  expressing my worries about the chance of being unable to update Android and the other Google apps ( Google maps, youtube,  and most important Google mail) starting with the coming fall. 

 

I got an email from them today which stated that I, as a holder of a Huawei phone already ( 2017) need not feel concerned as updateds will go on.....

 

 

So they said....Let's hope

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BA then why doesn't your Dem Controlled Congress bring the new nafta, The USMC up for a vote, that would eliminate all tariffs on steel and aluminum imported from Canada and Mexico. We would all be on a level playing field. Costs of these metals would come down. But Noooo. Pelosi and Schumer et al would have to provide Trump a win. They hate Trump so much, they prefer to provide fuel to their Anti Trump propaganda machine and ignore the fact that The USMC Trade agreement would help the people and US manufacturers in lowering costs of goods and services. With China, China needs access to the US Markets to which to sell their cheap goods; built on lower labor costs or stolen intellectual property. Talking about colluding with a foreign country in advancing their interests over those of the US and the American people, Nancy and Chuck should be ashamed of themselves if they had a beating heart. You do realize that we rebuilt our US Steel Industry with proceeds from the $200 billion we already received from China tariffs already. We can compete on many fields now.

Edited by new york kevin
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The Stock Markets will make a correction (december-ish 2019) the result of the China tariffs taking effect on the Markets and China's economic collapse. They will go by way of the former Soviet Union, bankrupt. Then they will loose their imperialistic military like grip the Pacific Rim nations. Gone is China's Silk Road Initiative. All part of Trumps plans to move manufacturing to the US, Canada, and, Mexico. Eventually bringing economic opportunity to the whole of Northern, Central, and South America . This is also how Trump plans to eliminate China's, Russia's and Cuba's influences in Venezuela , South America. With economic prosperity being brought to the America hemisphere we will likely remove a good portion of why migrants want to immigrate to the US by any means possible.

Edited by new york kevin
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13 hours ago, new york kevin said:

BA then why doesn't your Dem Controlled Congress bring the new nafta, The USMC up for a vote, that would eliminate all tariffs on steel and aluminum imported from Canada and Mexico. We would all be on a level playing field. Costs of these metals would come down. But Noooo. Pelosi and Schumer et al would have to provide Trump a win. They hate Trump so much, they prefer to provide fuel to their Anti Trump propaganda machine and ignore the fact that The USMC Trade agreement would help the people and US manufacturers in lowering costs of goods and services. With China, China needs access to the US Markets to which to sell their cheap goods; built on lower labor costs or stolen intellectual property. Talking about colluding with a foreign country in advancing their interests over those of the US and the American people, Nancy and Chuck should be ashamed of themselves if they had a beating heart. You do realize that we rebuilt our US Steel Industry with proceeds from the $200 billion we already received from China tariffs already. We can compete on many fields now.

 

 

Fair trade is how it should be. The approach we are taking is wrong. You cannot flip a switch and change the global economy, the global supply and demand chain or how the rest of the world's industry does business. We are quickly seeing the effect of Trump's plan. We are seeing buyers go to other markets for their products, produce etc.. It will be hard to get buyers to come back. We are also seeing the multi-nationals say they will leave China if they have to manufacturer somewhere else, but they are definitely saying their plans do not include America. So yes we need to improve trade and balance it, but this hardball negotiating that works for buying up slums in NYC is not working on the global stage. JMHO

 

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13 hours ago, new york kevin said:

The Stock Markets will make a correction (december-ish 2019) the result of the China tariffs taking effect on the Markets and China's economic collapse. They will go by way of the former Soviet Union, bankrupt. Then they will loose their imperialistic military like grip the Pacific Rim nations. Gone is China's Silk Road Initiative. All part of Trumps plans to move manufacturing to the US, Canada, and, Mexico. Eventually bringing economic opportunity to the whole of Northern, Central, and South America . This is also how Trump plans to eliminate China's, Russia's and Cuba's influences in Venezuela , South America. With economic prosperity being brought to the America hemisphere we will likely remove a good portion of why migrants want to immigrate to the US by any means possible.

 

Stock markets always correct. We have been on a bull run since 2010... That's nine years. It will correct, and it will not be Trump's fault just like it wasn't Obama who made the run get started. Presidents get far too much credit good or bad for the stock market. Wall Street lives in it's own world. They make money going up and down. Ever hear the saying "Sell in May, then go play". That's what is happening right now. Investors work in cycles. They are cashing out now, going on vacation. When the rest of the retail investors (you and me and people with 401Ks) have tried to adjust for the down market, the real investors come back in the fall and buy all those cheap stocks that have gone on sale.

 

As for crushing China, right now they have us in a tough spot. We have 22 Trillion in debt we cannot pay, and they have a 3.6 Trillion dollar surplus... Our people can't go a day without their luxuries, starbuck coffee, facebook or whatever. The Chinese people are far more prepared to suffer, than the average American... Especially our young people who have no idea of what it means to sacrifice. JMHO

 

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11 minutes ago, bostonangler said:

 

Stock markets always correct. We have been on a bull run since 2010... That's nine years. It will correct, and it will not be Trump's fault just like it wasn't Obama who made the run get started. Presidents get far too much credit good or bad for the stock market. Wall Street lives in it's own world. They make money going up and down. Ever hear the saying "Sell in May, then go play". That's what is happening right now. Investors work in cycles. They are cashing out now, going on vacation. When the rest of the retail investors (you and me and people with 401Ks) have tried to adjust for the down market, the real investors come back in the fall and buy all those cheap stocks that have gone on sale.

 

As for crushing China, right now they have us in a tough spot. We have 22 Trillion in debt we cannot pay, and they have a 3.6 Trillion dollar surplus... Our people can't go a day without their luxuries, starbuck coffee, facebook or whatever. The Chinese people are far more prepared to suffer, than the average American... Especially our young people who have no idea of what it means to sacrifice. JMHO

 

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Where do you find that $3.6 trillion surplus number?

CL

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