Trump to impose tariff on steel and aluminium, geaux Trump!

“Coming back from the G20 summit, Trump was editing an upcoming speech with Porter. Scribbling his thoughts in neat, clean penmanship, the president wrote, “TRADE IS BAD.” Though he never said it in a speech, he had finally found the summarizing phrase and truest expression of his protectionism, isolationism and fervent American nationalism.”

― Bob Woodward, Fear: Trump in the White House

 

Wow. Mr trump is a ignorant creature.

 

Luckily, he lacks object permanence and removing things from his view is all that is necessary to make him forget about them. This imbecile is the leader of the free world.

“Cohn and Porter worked together to derail what they believed were Trump’s most impulsive and dangerous orders. That document and others like it just disappeared. When Trump had a draft on his desk to proofread, Cohn at times would just yank it, and the president would forget about it. But if it was on his desk, he’d sign it. “It’s not what we did for the country,” Cohn said privately. “It’s what we saved him from doing.”
― Bob Woodward, Fear: Trump in the White House

There are no longer any adults left in the room.

 

https://www.marketwatch.com/story/the-trade-war-is-over-and-china-won-2019-07-01

The trade war is over — and China won​

Trump-Xi agreement shows POTUS (all hat, no cattle) won’t go to the wall to
fundamentally change the U.S.’s trade relationship with Chinao​

Trump will lift some restrictions on Huawei's ability to do business with U.S. cos and will postpone tariffs he threatened to impose on an additional $300 B annually in Chinese imports. In exchange, Xi agreed China will buy more U.S. agricultural products, details to be spelled out later.

This deal — the second time President Trump gave in to China’s demands and ended restrictions on a major Chinese technology co that had been accused of threatening U.S. national interests — effectively marks the end of Trump’s trade war with China.

it shows the POTUS won’t go to the wall to fundamentally change the U.S.’s trade relationship with the world’s second-biggest economy.

• The Chinese president has clearly calculated his American counterpart is unwilling to do anything that would threaten his support among key constituencies, like farmers, as the 2020 election looms. (President Trump also has backed down big time from his bellicose talk on North Korea and now appears ready to tacitly accept Pyongyang as a nuclear power.)

That means that the current tariffs will continue but no new ones will be imposed. China will buy more U.S. agricultural products — although some U.S. farmers will find other countries already have muscled them out of the Chinese market. We may well see a bigger deal in coming months, which the self-proclaimed "Dealmaker-in-Chief" will undoubtedly proclaim a great victory, cheered on by his hard-core supporters

Is there a better eg of "all hat, no cattle" !​

 

Brazilian farmers think trade wars are easy to win... while trump is forced to buy American farmer votes with bailouts...

 

you can see why

As a result of the Trump bailout

JBS USA, a Colorado-based subsidiary of Brazil’s JBS SA, which ranks as the largest meatpacker in the world receiving over $63 Million bailout from the US Gov't

most probably JBS SA used the $63 million bailout to increase their soy production in Brazil in order to meet the increased demand from China
​

a vivid eg of "double dipping"

https://washingtonmonthly.com/2019/05/16/62-million-in-farm-aid-went-to-two-brazilian-crooks/https://washingtonmonthly.com/2019/05/16/62-million-in-farm-aid-went-to-two-brazilian-crooks/

 

you can see why

As a result of the Trump bailout

JBS USA, a Colorado-based subsidiary of Brazil’s JBS SA, which ranks as the largest meatpacker in the world receiving over $63 Million from the US Gov't

most probably JBS SA used the $63 million to increase their soy production in Brazil in order to meet the increased demand from China

​

a vivid eg of "double dipping"

https://washingtonmonthly.com/2019/05/16/62-million-in-farm-aid-went-to-two-brazilian-crooks/https://washingtonmonthly.com/2019/05/16/62-million-in-farm-aid-went-to-two-brazilian-crooks/

 

trump lies, about everything, all the time...

 

Trump's trade war cost the world $2t, wiping 6% off the global one percent's books



Trump's trade war has reduced the world's net worth by $2 trillion ($1.5 trillion of which came off the balance sheets of the 1%), with losses most deeply felt in China and Europe; North and South Americans took smaller losses, while the Middle East actually made gains: the richest Saudis have grown 7% richer during the trade war, while the richest Kuwaitis are 8% richer.

All in all, the global 1% saw a 6% decline in their wealth.

The stats come from Capgemini's 2019 World Wealth Report.

The world's super wealthy just collectively lost $US2 trillion – and Trump's trade war is to blame [Jack Derwin/Business Insider]

 

trump lies, all the time, about everything...

 

Not only are American tax payers paying for the tariffs, the trade deficit with China EXPANDED since the tariff barage.

Then again, Trump set himself up like an idiot with no knowledge of basic economics. A trade deficit isn't necessarily a bad thing and sometimes a sign of a booming economy.

 

lagging econ indicator of the effect of the trade war

“Transportation Recession” Gets Uglier

lots and lots of empty trucks, rail carts, transport planes and barges
​

Freight shipments in the US across all modes of transportation – truck, rail, air, and barge – fell 5.3% in June compared to June last year, after having fallen 6.0% in May,

the seventh month in a row of year-over-year declines, ​

This decline, along with other freight indicators, including orders for heavy trucks, now clearly outline the new Transportation Recession – number 2 since the Great Recession – in this very cyclical business:

https://wolfstreet.com/2019/07/15/trucking-rail-lead-the-new-transportation-recession/

​

 

Jeez... trump still flailing about with tariffs... and getting caught in yet another lie about how effective his negotiations have been...

 

Who is the world would want to work for trump?

 

All that winning...

 

Do something Trump. My stonks are getting killed.

 

effectively, Trump has just declared war on Christmas for US consumers.

thus far, the Tariffs have been directed at industrial products imported from China. From Sept on, most of the imports will be consumer goods, ordered by cos such a Walmart, Costco, Target, etc, for

• back-to-school supplies / clothing, as well as Holloween and Christmas shopping seasons