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Of course though...even though the massive trade imbalance favors China 4:1 and some of our US goods end up having 96% tariffs by the time they get to the Chinese consumer, they are still playing hardball.
"Chinese tariffs that really matter are the ones on US agricultural and manufacturing goods, produced mainly in states with strong support for [President] Donald Trump," said Artur Baluszynski, the head of research at Henderson Rowe. "We just don't see China willing to negotiate on them before the race for US presidential elections really kicks off."
China seems to hold all the cards here. One word, one minor gesture sends the markets shooting up or down. The biggest advantage though is time and the looming US election. If they stick to what matters to them, Trump will eventually have to cave in or a recession will cut his already dismal approval ratings in half.
Both countries are manipulating the markets to create volume and push off the inevitable. It really is that simple. China has the upper hand but both economies are living off the printing press.
China seems to hold all the cards here. One word, one minor gesture sends the markets shooting up or down. The biggest advantage though is time and the looming US election. If they stick to what matters to them, Trump will eventually have to cave in or a recession will cut his already dismal approval ratings in half.
I'm pro-recession if it means tariffs stay on China.
It appears that Trump is ready to throw in the towel. He is seeing the damage that his tariff strategy is doing to the US economy, and more importantly, to his re-election chances. So he has just announced that he would consider an "interim" trade agreement with China. In other words, get a boost in stocks and hold off the recession until after the election. Will people fall for it?
It appears that Trump is ready to throw in the towel. He is seeing the damage that his tariff strategy is doing to the US economy, and more importantly, to his re-election chances. So he has just announced that he would consider an "interim" trade agreement with China. In other words, get a boost in stocks and hold off the recession until after the election. Will people fall for it?
If he does its because he is selling out to corporate America short term stock increases.
I hate it and so should you Ponderosa. Don't be fall for the recessions are bad line, they are only bad because pain is thrown on the debtors instead of the financial elite. Look at what HAMP did;
The reason 08-09 was so bad was because the Bush and Obama administration worked to make it so. Endless growth is not the way forward.
Also disentangling our economy from China is amazing, cheap goods and fentanyl doesn't make our country a better place, it destroys it.
It appears that Trump is ready to throw in the towel. He is seeing the damage that his tariff strategy is doing to the US economy, and more importantly, to his re-election chances. So he has just announced that he would consider an "interim" trade agreement with China. In other words, get a boost in stocks and hold off the recession until after the election. Will people fall for it?
Trump will eventually have to cave in or a recession will cut his already dismal approval ratings in half.
Hopefully he'll make the right choice instead of a political one. It's too bad some Democrats are trying to make this political, if there is one thing Trump has done that should have bipartisan support this is it.
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