Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Status:
"“If a thing loves, it is infinite.”"
(set 1 day ago)
Location: Great Britain
27,171 posts, read 13,455,286 times
Reputation: 19465
Advertisements
Just in terms of steel, it would hit US Manufaturing as raw materials became more expensive in relation to US Cars, Planes, Food Cans, Ship building, Defence Industry etc.
On top of making US exports more expensive and less competitive it would make US imports more expensive and that would further the hit on the US Consumer and increase inflation.
Then you have the retaliation by other countries, in terms of China the population is dictated to by the Central Government and people and companies will be told not to supply or buy American cars, planes and other goods. They could also hit US Agriculture as China is one of the biggest US Markets in relation to Soya Beans.
China also owns $1 Trillion of US debt which causes further problems for the US.
Then again given that China will not be that effected by the steel tariffs, it will probably use such tariffs to it's advantages, as this will increasingly make Chinese goods even cheaper across most of the globe when compared with the rest of the world. The truth being Trump's latest tariffs are going to hit the EU and fellow NAFTA nations far harder than they will China. The end result may be more trade between the EU and China, fast growth of economies such as India, which the Chinese do far more trade with now, and even Russia may see some benefits.
In terms of Europe, they will hit back but the true cost will be to US Manufactuers whose goods made from steel will cost more, so it's good news for Aurbus, Cars and the European Defence Industry. Whilst if Trump puts a tax on European cars expect a massive drop in trsde between the US and Europe and an effort by Europe to further expand in to the Chinese and Indian Markets, indeed India will have a population of 1.7 Billion by 2050 and China has the fastest growing car market in the world.
The Tariffs could also see the end of NAFTA, poor relations not just with Europe but the rest of the Anglosphere nations, and other important allies.
Quote:
Originally Posted by BBC
China is the world's biggest passenger car market. By 2022 it will contribute to over half of the world's car growth.China is also consistently among the top five export markets for US cars and car parts, so a directive from the government to stop buying American cars out of loyalty to the Chinese state would hurt US manufacturers.
China owns more than a $1tn of US debt
It has threatened to sell US Treasuries before, and many have worried that this level of debt could mean that Beijing has leverage over the US economy.
^ Guess we have to hope the US dollar remains the world’s reserve currency.
& hope too that Mr Trump is not planning to 'short' the dollar so he & his high roller friends will at least make some money when it falls, while the rest of US ...
Yeah, he sent Navarro and Ross to the Sunday talk shows to say NO EXEMPTIONS on tariffs. Now he tweets, well, maybe no tariffs for Canada or Mexico. Makes his cabinet/negotiators look like fools.
Not what I read. He said they could gain exemptions if they agree to changes in Nafta and Mexico does more to stop drugs entering u.S.
He's backing down. Just like he did after his DACA meeting. Just like he did after the NRA got to him after his gun policy meeting. He looks less like a pu$$y-grabber and more like a plain old pu$$y.
Not at all. I would be just as alarmed if any other person was in the White House.
If a trade war begins, no one will be applauding it here. No one at all. Anyone who applauds one now, no matter who's supporting it, is either delusional, in advanced dementia, or an idiot from the get-go.
We cannot win a trade war. We are the ripest low-hanging cherry on the tree, and the rest of the world will pluck us and happily feed us to the crows if we start a trade war.
It would be an economic disaster that would last for decades, and would come at a time when America is doing better than it has ever since the 21st century began.
A trade war would be the economic equivalent to World War I, and we would end up being the Weimar Republic by the time it ended.
Mike, this and your "Every city in the United States would become Flint" response to the OP are delusional beyond any further comment....ever.
They're not subsidizing our industry. They are subsidizing their industry over there.
By subsidizing raw materials that our industries use, they are also subsidizing those industries by reducing their input costs.
Quote:
Originally Posted by Mason3000
They subsidize their industries, not ours.
See above.
Quote:
Originally Posted by Mason3000
Imagine your kid was having a contest with their friend to see who could save the most money in 30 days? Your kid mows lawns, babysits, walks dogs, etc and saves $200. The other kid saves $100, but their Dad gives them $300 and your kid loses $200 to $400. Doesn't seem fair does it?
Now imagine kid #2 uses money he got from his dad to pay kid #1 for his services. Kid #2's dad has now subsidized both kids.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
