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Retaliation to rising U.S. import tariffs has invited bankruptcy for many growers of soybeans, corn and wheat, in Minnesota and across the nation — despite tens of billions in taxpayer bailout money that’s mostly going to big agribusinesses, not family farmers.
Trump once touted U.S. Steel as a sure winner from his import tariffs. Months later, the company laid off 200 at one of its mills in Michigan. Trump earlier claimed that U.S. Steel was opening six — or was it seven? — new plants. The number kept changing. The actual total: zero. Sad.
Meanwhile, American consumers are casualties. By one estimate, the average household will see its cost of living rise by $1,000 a year as a result of Trump’s trade war.
The man who labels himself “Mr. Tariff” is nothing if not discriminating. (In more ways than one.)
With the wave of a hand, Trump’s import tax vanishes for some firms and products even as others cannot escape the tab. Magic! Or, more likely, opportunities for misdirection, mishandling and misdeed.
China drops tariffs on soy and pork.....a backhanded admission they can't feed their own people
China to lift punitive tariffs on US soybeans, pork
China will suspend tariff hikes on soybeans, pork and some other farm goods, the Xinhua News Agency said, citing the Cabinet planning agency and the Commerce Ministry. Beijing "supports domestic companies in purchasing a certain amount of U.S. farm produce," it said, but it gave no details.
China drops tariffs on soy and pork.....a backhanded admission they can't feed their own people
China to lift punitive tariffs on US soybeans, pork
China will suspend tariff hikes on soybeans, pork and some other farm goods, the Xinhua News Agency said, citing the Cabinet planning agency and the Commerce Ministry. Beijing "supports domestic companies in purchasing a certain amount of U.S. farm produce," it said, but it gave no details.
First let me note that the "big news" on Tariffs September 13 (same day this Minneapolis Rant/Hit piece on President Trump) was that China had purchased 600,000 Metric Tons of Soybeans from the USA and was waiving Tariffs on 16 food items + Soybeans and Pork.
China has several major problems:
1). They are now rationing Pork (China
2). China has a pressing need to keep 1.4 billion mouths fed
3). China is the world’s largest consumer of pork, accounting for 49.3 percent of global consumption. 4). Pork makes up 75.4 percent of China’s meat consumption. Almost half the Chinese Pork production is gone - African Swine Flue. Add to that - Soybeans make up the majority of the food source for pork
China probably doesn't mind putting the people on rations or even watching them starve. They don't mind shooting them in the streets, history shows us.
What's different THIS MONTH?
1). October 1 is a GREAT Anniversary of the Communist Party in China. This is a Biden Big F'n Deal.
2). Starving people (and it's not to that yet) don't feel very much like celebrating.
3). The Honk Kong Riots - they are not reported by State Owned Media, but the people know.
4). They are concerned about the Honk Kong Riots spreading to mainland China & how the world would view that.
What did President Trump do?
He offered to push back his announced Tariff increases 25% raised to 30% (which would have been World News) until October 15th in honor of the Community Party's 75th Birthday and Celebration.
Nothing was more important to Beijing at this moment - they were very grateful to be allowed to save face. Trump gave up 5% for 2 weeks, Xi gave up Agriculture/Pork Tariffs until September 2020. (which may or may not last - Xi Lies a lot).
They go back to the table to "negotiate" - with the National Security Track off the table for now.
I know Leftists say Trump is stupid and can't negotiate - that President Trump doesn't understand Foreign Policy or even Economics.
They never consider that they might be wrong. It's their greatest problem. Outdated Playbook & Echo Chamber.
It's why Democrats lost in 2016 and will lose again in 2020.
Not to say all sectors are dong well - but there is not much real info in the article.
Xinhua News Agency IS the State Owned Media by the Communist Party in China.
They don't do "gossip" when it comes to what the State is doing.
This was all first reported by the Wall Street Journal - I'm a subscriber.
Reuters, ABC, CNBC, NBC, AP, BBC, NPR - even CNN ..... eventually reported on it. Maybe buried on page 37 in tiny print - but it finally got there one way or another. Some spin, but the facts are there.
It's really not a very pretty look for Leftists to be rooting for the Chinese Tariffs to injure the USA.
Not pretty to be rooting for China and against the USA. Really bad form to "hope" for a Recession and promote a Recession. People will remember that.
I think the Democrat Presidential Candidates are aware of that - it's why they REFUSE to talk about the US Economy or Trade Deals.
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Xinhua News Agency IS the State Owned Media by the Communist Party in China.
corrupt tariff practices
