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Honored Advisor

See, just be patient.

Even the NYT is seeing the light.

 

https://www.msn.com/en-us/money/markets/china-once-looked-tough-on-trade-now-its-options-are-dwindli...  

 

 

BEIJING — President Trump imposed tariffs in July on $34 billion in Chinese goods. China matched them dollar for dollar with its own.

Then he hit an additional $16 billion in goods in August. China matched that, too.

Now, Mr. Trump has made his biggest move yet, announcing 10 percent tariffs starting in a week on $200 billion a year of Chinese goods. But this time, China can’t match them all — and that crystallizes a growing problem for Beijing.

On Tuesday, Chinese officials responded to the president’s latest move by following through on an earlier threat to impose tariffs on $60 billion in American goods — nearly everything China buys from the United States.

China’s responses have so far failed to thwart Mr. Trump’s trade offensive, and with the White House amping up the fight again, Chinese leaders aren’t sure how to respond, people briefed on economic policymaking discussions say.

Chinese officials “are generally confused,” said Raúl Hinojosa-Ojeda, a trade specialist at the University of California, Los Angeles, who has been traveling around China speaking with officials, businesspeople and workers.

“They don’t know what to do,” he added. “They worry that the tit-for-tat model is playing into Trump’s hands.”

 

China does not import nearly enough from the United States to target $200 billion in American goods — let alone the additional $267 billion in Chinese goods that Mr. Trump has threatened to tax.

But China’s leaders feel they cannot back down. They have presented the trade war as part of a broader effort by the United States to contain China’s rise.

Mr. Trump has said as much, and did so again at a news conference on Tuesday. “China has been taking advantage of the United States for a long time, and that’s not happening anymore,” he said.

The Chinese public could see any effort to soothe tensions as capitulation. Some hard-liners want a more aggressive stance.

Lou Jiwei, who retired as finance minister in 2016 but is still the head of the country’s social security fund, suggested on Sunday that China could deliberately disrupt American companies’ supply chains by halting the export of crucial components mostly made in China. But Chinese trade experts dismiss that idea as impractical and not the government’s position.

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6 Replies
Veteran Advisor

Re: See, just be patient.

BA,

 

Keep in mind that the Chinese President can squeeze his people because he has a communist country and he can do whatever he wants in retaliating with Trump regardless of consequences to his people.   Also, he probably knows that trump's time is limited and he can wait till trump leaves power.  

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Honored Advisor

Re: See, just be patient.

Hey Gio, that is exactly correct, I`m telling you that is exactly what is on president Xi`s mind.  He wants Democrats to win more this November than even the media and many of you do Smiley Very Happy   

 

However, we throw around the name "hitler" easily these days, but look at the totalitarian regime of China.  They are hellbent on world domination and it appears they no longer feel the need to hide their famous "Chinese patience" they are going right for our jugular!    History will show this was our last chance to contain them.  

 

What they aren`t hiding anymore is "Buy $400 Billion more from us or we won`t buy your beans!".  China has become near self sufficient in pork and even before tariffs and Trump, they were looking at Brazil and Africa ...and they own the Panama Canal ...that we built!

 

No, I don`t want to go broke farming and $6 beans might be my Waterloo, but I also don`t want one day my kids forced to hang a picture of Chairman Mao in their livingroom either. 

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Veteran Advisor

Re: See, just be patient.

How do you know I am a democrat? Haha.

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Honored Advisor

Re: See, just be patient.

You gonna tell me you ain`t?   Smiley Wink

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Veteran Advisor

Re: See, just be patient.

Ba,

 

All I can say is that I wish for the same things you wish for and I love the farming community.  

Honored Advisor

Re: See, just be patient.

I appreciate that Gio, I really do.  I just think we need to see China as they really are, they haven`t done the USA any favors, there was a time they needed pork and they bought their needs at what they wanted to pay, while they increased their domestic herd.  They bought beans when we were the cheapest source, but they never said "USA you are such a good customer of our exports that we will help you out by buying all our soy needs, even if you aren`t always the cheapest price, we take care of our customers!"  No, they don`t care, never have and now they have gotten so big that they don`t feel they need to hide it.

 

 

For better or worse, Trump has "burned the bridge" in my opinion for the better, it was going to happen sooner or later, it is never a good idea to go into a fight in a weaken state and we aren`t getting stronger only deeper in debt.  IMO this is our last chance, if Trump`s party doesn`t win this November, the bridge will have been burned in vain, the apology party will start and we will lose face.   If your enemies don`t respect you, they damn well better fear you.

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