AuthorTopic: 🚛 Trade Warz  (Read 1621 times)

Online RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 34149
    • View Profile
🚛 Trade Warz
« on: March 09, 2018, 01:56:34 AM »
Kickoff article for a new Official Thread on tariffs, trade, protectionism, et al.

RE

https://www.globalresearch.ca/trade-conflict-heats-up-towards-a-full-scale-global-trade-war/5631391

Trade Conflict Heats Up, Towards a Full-scale Global Trade War?
By Nick Beams
Global Research, March 08, 2018
World Socialist Web Site
Region: USA
Theme: Global Economy, Law and Justice

The Trump administration is expected to announce today how it will apply the tariffs on steel and aluminium outlined last week. While a full-scale global trade war has yet to break out, the major powers are manoeuvring for an impending conflict.

Yesterday, European Union Trade Commissioner Cecilia Malmström said the EU would take the case to the World Trade Organisation and work with others if Trump went ahead. The EU, she confirmed, has drawn up a list of products that would be subject to tariffs to the tune of €2.83 billion if the US proceeds. The targets could include certain types of bourbon, and food products such as peanut butter, cranberries and orange juice, as well as Harley Davidson motorbikes.

Malmström said she was reluctant to use the term “trade war” and the EU did not “want this to go out of proportion.” But she added:

    “[W]e need to take certain measures if this [happens]. It risks a serious blow to the European economy and to our workers.”

The European powers hope to be excluded on the basis that they are strategic allies of the US, so the “national security” grounds on which Trump announced the measures do not apply to them.

However, this argument, which was advanced by the now former head of Trump’s National Economic Council, Gary Cohn, who resigned on Tuesday, is not cutting much ice as the “America First” economic nationalists assume greater control in the White House.

Trump used a press conference with Swedish Prime Minister Stefan Löfven on Tuesday to single out the EU for attack.

    “The European Union has been particularly tough on the United States,” he said. “They make it almost impossible for the United States to do business with them. And yet they send their cars and everything else …”

This was a clear threat that if the EU responds to the steel and aluminium tariffs, then the US will hit back with moves against cars.

Canada—the largest exporter of steel to the US—and Mexico have also called for exemptions from the tariff plan. The Trump administration said any such exclusion depended on the two countries bowing to US demands in the ongoing renegotiation of the North America Free Trade Agreement (NAFTA).

Treasury Secretary Steven Mnuchin told CNBC yesterday there was a mechanism for a “carve out” of countries from the tariffs. But that would only apply to the extent that the US was “successful” in renegotiating NAFTA.

In a television interview yesterday, Commerce Secretary Wilbur Ross tried to sound a conciliatory note.

    “We’re not trying to blow up the world,” he said. “There’s no intention of that.”

Yet the administration’s actions have very definite global consequences, as the US Chamber of Commerce, one of the country’s largest business lobby groups, noted.

    “The US Chamber is very concerned about the increasing prospects of trade war, which would put at risk the economic momentum achieved through the administration’s tax and regulatory reforms,” an official statement declared. “We urge the administration to take this risk seriously and specifically to refrain from imposing new world-wide tariffs on steel and aluminium.”

The US actions have caused consternation in ruling political and financial circles around the world. Reserve Bank of Australia governor Philip Lowe attacked the Trump measures and warned that escalation and retaliation would produce a “very big shock for the world economy.”

Lowe said the moves were “highly regrettable and bad policy” but were manageable for the world economy, provided they were confined to two industries. He expressed the hope that other countries would “just sit still and do nothing,” saying:

    “That’s the hardest thing to do in some cases, because there’s a political imperative in some countries to kind of respond to what is seen as an unjust action.”

An emerging theme from opposition in the United States is not a repudiation of trade war as such, but concerns that the Trump administration has used a blunt instrument that hits US strategic allies rather than the real opponent, China.

In the Wall Street Journal, Greg Ip noted that the US was not the only country with a chip on its shoulder about trade. There were “countless others” when it came to China.

    “For President Donald Trump, this could be an opportunity to lead a coalition against China’s predatory trade behaviour. Instead, he is threatening trade war with the countries that would make up such a coalition, over commodities that are much less vital to the US economy and national security than the sectors threatened by China’s expropriation of intellectual property.”

This approach was reflected in a letter from 107 House Republicans sent to Trump yesterday, expressing “deep concern” about the prospect of broad global tariffs on steel and aluminium.

Warning of “unintended negative consequences” for the US economy, the letter said:

    “We support your resolve to address distortions caused by China’s unfair practices, and we are committed to acting with you and our trading partners on meaningful and effective action.”

Last August, the office of the US Trade Representative launched an investigation under Section 301 of the 1974 US Trade Act to determine whether Chinese actions in relation to technology transfer, intellectual property and innovation were unreasonable and detrimental to US interests.

The investigation’s report is expected within weeks. Under the legislation, the president has the power to retaliate for what are deemed to be unfair trade practices. A US investigation conducted last year claimed the annual loss to the US economy from counterfeited goods, pirated software and the theft of trade secrets was at least $225 billion and could go as high as $600 billion. It designated China as the main culprit.

Bloomberg reported that

    “under the most severe scenario being weighed, the US could impose tariffs on a wide range of Chinese imports from shoes and clothing to consumer electronics.”

It cited two people “familiar with the matter” who spoke on condition of anonymity.

China has so far adopted a low-key approach to the steel and aluminium tariffs, largely because it is well down the list of countries that export the metals to the US. But it is almost certain to respond to measures under Section 301.

Signalling that his administration is gearing up for action, Trump declared in a Twitter post yesterday:

    “The US is acting swiftly on intellectual property theft. We cannot allow this to happen as it has for many years!”

Financial Times economics columnist Martin Wolf this week noted that Trump’s action on steel and aluminium was unlikely to be the last.

    It was “more likely to be the beginning of the end of the rules-governed multilateral trading order that the US itself created.”

This assessment is borne out by Cohn’s resignation after he had failed to at least moderate the measures. It is a sure sign that, whatever the final form of the steel and aluminium tariffs, their imposition signifies the start of a descent into global trade war on a scale not seen since the disastrous conflicts of the 1930s, which played a major role in creating the conditions for World War II.
The original source of this article is World Socialist Web Site
Copyright © Nick Beams, World Socialist Web Site, 2018
« Last Edit: March 09, 2018, 01:58:08 AM by RE »
SAVE AS MANY AS YOU CAN

Offline Palloy2

  • Administrator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: 🚛 Trade Warz
« Reply #1 on: March 11, 2018, 05:47:25 PM »
This breakdown of steelmakers exporting to US is interesting:



While the tension has been focused on China, in fact the BRICS countries are all exporters - Brazil 13.5%, Russia 8.0%, China 2.2%, India 2.0%, South Africa 1.0%, Total BRICS 26.7%.  To that you could add Turkey 6% and maybe Vietnam 1% taking it to 33.7%, so fully one third of US imports could be withheld while WTO wrangles play out.

I imagine there is spare steel-making capacity in a host of other countries, and at a price that US producers couldn't compete with, otherwise why are they being imported now?

Since there's no good financial reason to have tariffs, they had to be put under the "national security" label, and unsurprisingly all US's allies started clamouring for national security exemptions and will get them in the end.  Thus these tariffs will end up being anti-BRICS, further cementing the Chinese Cold War split on which WW3 will be fought.

"The State is a body of armed men."

Online RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 34149
    • View Profile
Re: 🚛 Trade Warz
« Reply #2 on: March 11, 2018, 05:56:04 PM »
This breakdown of steelmakers exporting to US is interesting:



While the tension has been focused on China, in fact the BRICS countries are all exporters - Brazil 13.5%, Russia 8.0%, China 2.2%, India 2.0%, South Africa 1.0%, Total BRICS 26.7%.  To that you could add Turkey 6% and maybe Vietnam 1% taking it to 33.7%, so fully one third of US imports could be withheld while WTO wrangles play out.

I imagine there is spare steel-making capacity in a host of other countries, and at a price that US producers couldn't compete with, otherwise why are they being imported now?

Since there's no good financial reason to have tariffs, they had to be put under the "national security" label, and unsurprisingly all US's allies started clamouring for national security exemptions and will get them in the end.  Thus these tariffs will end up being anti-BRICS, further cementing the Chinese Cold War split on which WW3 will be fought.

You have to factor in Demand Destruction here.  If the Konsumers cannot afford to buy the products made from steel, you need fewer steel producers.

RE
SAVE AS MANY AS YOU CAN

Offline Eddie

  • Administrator
  • Master Chef
  • *****
  • Posts: 16094
    • View Profile
Re: 🚛 Trade Warz
« Reply #3 on: March 11, 2018, 06:06:49 PM »
The graphic is very informative. More effect on Russia and Brazil than any of the others besides Canada.

So...is Canada getting exempted after all?  It seems very, very dumb to put a tariff on Canadian steel. But as David mentioned, the US put a big tariff on Canadian lumber already.
What makes the desert beautiful is that somewhere it hides a well.

Offline Golden Oxen

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12070
    • View Profile
Re: 🚛 Trade Warz
« Reply #4 on: March 11, 2018, 06:24:15 PM »
The graphic is very informative. More effect on Russia and Brazil than any of the others besides Canada.

So...is Canada getting exempted after all?  It seems very, very dumb to put a tariff on Canadian steel. But as David mentioned, the US put a big tariff on Canadian lumber already.

My feeling is that Trump is after China period.

This tariff bullshit is all some kind of war with the gooks, that is being orchestrated by the Generals baby sitting him in the White House. To view it in any other light or to try and makes sense of it is folly.

Trump is a graduate of Wharton, one of the most renowned educators of finance and economics as well as business practices in the world.

Does anyone seriously think that Trump isn't aware of these high school sophomoric views on tariffs being voiced here.  ::)

Offline Eddie

  • Administrator
  • Master Chef
  • *****
  • Posts: 16094
    • View Profile
Re: 🚛 Trade Warz
« Reply #5 on: March 11, 2018, 07:55:10 PM »
Does anyone seriously think that Trump isn't aware of these high school sophomoric views on tariffs being voiced here.  ::)

I think Trump is playing by the populist playbook that got him elected. The Trump base thinks tariffs are great...because JOBS!

It's bullshit. He probably does know it.

Frankly, The Wharton School pedigree doesn't impress me. Not every Wharton grad is some kind of wunderkind. And half of every Wharton graduating class..... graduates in the bottom half of the class.
What makes the desert beautiful is that somewhere it hides a well.

Offline Nearingsfault

  • Waitstaff
  • ***
  • Posts: 790
    • View Profile
Re: 🚛 Trade Warz
« Reply #6 on: March 11, 2018, 09:56:48 PM »
The graphic is very informative. More effect on Russia and Brazil than any of the others besides Canada.

So...is Canada getting exempted after all?  It seems very, very dumb to put a tariff on Canadian steel. But as David mentioned, the US put a big tariff on Canadian lumber already.
According to the stories I read yes we are getting exempted but for 30 days so long as we knuckle under on everything trump wants on Nafta... But understand there is no way the sitting government can roll over and play dead on this. This whole thing is really gaining steam locally. As to his skill level I think 45 years ago when he went to school maybe he knew these things but spending 4 decades surrounded by yes men as you live in gold encrusted penthouses and consume junk food clouds your mind...
If its important then try something, fail, disect, learn from it, try again, and again and again until it kills you or you succeed.

Online RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 34149
    • View Profile
🚢 Trump’s Travesty of Protectionism
« Reply #7 on: March 12, 2018, 12:01:32 AM »
https://www.counterpunch.org/2018/03/09/trumps-travesty-of-protectionism/

March 9, 2018
Trump’s Travesty of Protectionism

by Michael Hudson


Photo by Tyler Merbler | CC BY 2.0

Trump’s series of threats this week was a one-two punch. First, he threatened to impose national security tariffs on steel and aluminum, primarily against Canada and Mexico (along with Korea and Japan). Then, he suggested an alternative: He would exempt these countries if they agree to certain U.S. demands.

But these demands make so little economic sense that they should be viewed as an exercise in what academia used to call power politics. Or in Trump’s world, Us versus Them, a zero-sum game in which he has to show that America wins, they lose.

It won’t work. Trump’s diplomatic ploy with Mexico is to say that he’ll be willing to exempt them from the steel and aluminum tariffs if they agree to (1) build the wall that he promised to make them build, and (2) give other special favors to the United States. He can then go to American voters and say, “See, we won; Mexico lost.”

This is unlikely to elicit a Mexican surrender. Its president already has said that building a wall makes no sense, and cancelled the planned diplomatic visit to Washington last week. Giving in to Trump’s election promise to American voters (or more to the point, indulging in his own ego trip about the wall) would be political suicide. Trump would crow that he made Mexico bow to his bidding.

Matters aren’t much better in Canada. While some Pennsylvania and Ohio steel companies probably will try to make Trump look good by hiring back a few hundred workers if and when the tariffs are announced, Canada and other suppliers would have to be laid off. Canadian resentment already has been building up for decades, ever since the auto agreement of the 1960s and ‘70s that favored U.S. suppliers.

But the real economic problem comes from within the United States itself. If new steel workers are hired, they may be laid off in a few months. Most important is the bigger economy-wide picture: The Chamber of Commerce and other groups have calculated that the loss of jobs in steel- and aluminum-using industries will far outnumber the new hiring of steel and aluminum workers.

NPR on Wednesday had a maker of beer kegs explain that if the cost of steel goes up, he can’t afford to match the prices of foreign keg manufacturers who buy their raw materials cheaper – and do NOT have tariffs raised on higher manufactures.

There are many good arguments for protectionism. These arguments are in fact much better than the free-trade patter talk used to indoctrinate college economics students. Of all the branches of today’s mainstream economics, free-trade theory is the most unrealistic. If it were realistic, Britain, the United States and Germany never would have risen to world industrial powers. (I review the fallacies of free-trade theory in Trade, Development and Foreign Debt.)

Economic history provides a long and excellent successful pedigree of good arguments for protective tariffs. Britain created its empire by protectionism, stifling manufactures in the United States as long as it pursued free trade. After the Civil War ended, America built up its industry and agriculture by protectionism, as did Germany and France. (I discuss the strategy in America’s Protectionist Takeoff: 1815-1914.)

But as each of these nations became world leaders, they sought to pull up the ladder and prevent other countries from protecting their own industry and agriculture. So they changed to “free trade imperialism.” The aim of industrial leaders is to convince other countries not to regulate or plan their own markets, but to let the United States engineer an asymmetrical trade policy whose aim is to make other countries dependent on its food exports and monopoly exports, while opening their markets to U.S. companies.

Since the 1920s the protectionist economies that came to support free trade have rewritten of history to white out how they got rich. The strategy of protectionism has been forgotten. Trump’s so-called protective tariffs against steel and aluminum are the antithesis to every principle of protectionism. That is why they are so self-destructive.

A really nationalistic trade strategy is to buy raw materials cheaply, and sell finished manufactured goods at a high value-added price.

The idea of industrial protectionism, from British free trade in the 19th century to U.S. trade strategy in the 20th century, was to obtain raw materials in the cheapest places – by making other countries compete to supply them – and protect your high-technology manufactures where the major capital investment, profits and monopoly rents are.

Trump is doing the reverse: He’s increasing the cost of steel and aluminum raw materials inputs. This will squeeze the profits of industrial companies using steel and aluminum – without protecting their markets.

In fact, other countries are now able to legally raise their tariffs to protect their highest-technology sectors that might be most threatened by U.S. exports. Harley Davidson motorcycles have been singled out. They also can block U.S. monopoly exports, such as bourbon and Levi blue jeans, or pharmaceuticals. Or, China can block whatever U.S. technology it decides it wants to compete with.

Trump’s tariff threats caused short-term aluminum prices to jump by 40 percent, and steel prices by about 33 percent. This raises the price of these materials to U.S. manufacturers, squeezing their profits. Foreign manufacturers will not have their materials prices increased, and so can out-compete with U.S. steel- or aluminum-using rivals. The global oversupply in fact may make the price of steel and aluminum decline in foreign markets. So foreign industry will gain a cost advantage.

On top of that, foreign countries can legally raise tariffs in their own markets – for whatever industries they deem will best gain from this advantage.

Trump’s tariffs will not induce new capital investment in steel or aluminum

America’s logic behind protective tariffs after the Civil War ended the Southern free-trade policies was that tariff protection would create a price umbrella enabling U.S. manufacturers to invest in plant and equipment. Britain already had made these sunk costs, so the United States had to include the cost of capital in its revenue.

That’s how America built up its steel industry, chemical industry and other manufacturing industry.

But no steel or aluminum company is likely to invest more or hire more U.S. labor as a result of higher tariff revenues. These companies may raise their prices, but neither investment nor trickle-down effects are likely.

For one thing, aluminum is made out of electricity, and America is a high-cost producer. Alcan – America’s largest supplier – has a rip-off deal with Iceland getting electricity almost for nothing.

For steel, it takes a long time to build a modern steel mill. No company will do this without an assured market. Trump’s tariff increases do not guarantee that.

America’s policy of breaking international agreements (we’re the “indispensable nation”)

Few companies, labor groups or banks in New York City have been willing to trust Mr. Trump in recent years. He should have called his book “The Art of BREAKING THE deal.” That’s how he made his money. He would sign an agreement with suppliers to his hotels or other buildings, and then offer only 80 cents (or less) on the dollar. He’d tell them, in effect: “You want to sue? That will cost you $50,000 to get into court, and then wait three or four years, by which time we’ll have made enough money to pay you on the cheap.”

Bank lenders had as much trouble getting paid as did Trump’s hapless suppliers. He made his fortune this way – so successfully that he seems to believe that he can use the same strategy in international diplomacy, just as he’s threatening to break the Iran agreement.

Will this work? Or are foreign economies coming to view the United States as “not agreement-capable”? In fact, will U.S. companies themselves believe that agreements signed today will still be honored tomorrow?

Trump’s national security ploy to bypass Congressional authority over trade policy

This is not the first time the United States has raised tariffs unilaterally. George W. Bush did it. And my 1979 book, Global Fracture, describes U.S. protectionism in the 1970s against other countries. America did it again and again.

But Trump has introduced some new twists. First of all, former U.S. protectionism had Congressional backing. But Trump has bypassed Congress, no doubt aware that steel-using and aluminum-using industries can mobilize Congressional support against Trump.

So Trump has used the one play available to the Executive Branch: the National Security umbrella. In a great mind-expansion exercise he claims that it would be a loss of national security to depend on neighboring Canada, Mexico, or allies such as South Korea and Japan for steel and aluminum. If he can convince a kangaroo trade court, this loophole is indeed allowed under WTO rules (GATT Article XXI). The idea was to apply to times of war or other great crisis. But U.S. steel and aluminum production has been steady for over a decade, and there seems to be no military or economic crisis affecting national security.

Suppose Trump gets away with it. Other countries can play this “national security” game. Any economic activity can be deemed national security, because every economy is an overall system, with every given part affecting all the others. So Trump has opened the door for overall asymmetrical jockeying for position. The most likely arena may be high-technology and military-related sectors.

Back in the 1980s this was called “Uncle Sucker” patter talk – acting as if the United States was the exploited party, not the exploiting actor in international trade and investment. Ultimately at issue is how much policy asymmetry the rest of the world is willing to tolerate. Can the United States still push other countries around as it has done for so many years? How far can America push its one-sided agreements before other countries break away?

Each foreign country threatened with loss of steel or aluminum exports has a more high-tech industry that it would like to protect against U.S. competition. The response is likely to be asymmetrical.

And here at home, how long will higher manufacturing industries back Mr. Trump and his policy that makes a travesty of “smart” protectionism?
SAVE AS MANY AS YOU CAN

Offline Nearingsfault

  • Waitstaff
  • ***
  • Posts: 790
    • View Profile
Re: 🚛 Trade Warz
« Reply #8 on: May 31, 2018, 06:05:43 PM »
The graphic is very informative. More effect on Russia and Brazil than any of the others besides Canada.

So...is Canada getting exempted after all?  It seems very, very dumb to put a tariff on Canadian steel. But as David mentioned, the US put a big tariff on Canadian lumber already.
According to the stories I read yes we are getting exempted but for 30 days so long as we knuckle under on everything trump wants on Nafta... But understand there is no way the sitting government can roll over and play dead on this. This whole thing is really gaining steam locally. As to his skill level I think 45 years ago when he went to school maybe he knew these things but spending 4 decades surrounded by yes men as you live in gold encrusted penthouses and consume junk food clouds your mind...
  looks like this is back in the news and picking up steam.  For clarification for non canadians; when every province agrees on ANYTHING in Canada its a big deal; they are all agreeing to counter duties. When the Conservative party grudgingly agrees their liberal rivals were right on ANYTHING its a big deal; leader of the opposition agrees with call for tariffs. Looks like we're doing this https://www.fin.gc.ca/activty/consult/cacsap-cmpcaa-eng.asp
Could be another trade masterstroke by the art of the deal guy but looking less likely
If its important then try something, fail, disect, learn from it, try again, and again and again until it kills you or you succeed.

Offline Palloy2

  • Administrator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: 🚛 Trade Warz
« Reply #9 on: June 01, 2018, 06:51:00 PM »
Trump: "we don’t have the judges”, meaning bought and paid for judges.  So Trump will lose control of WTO.

https://www.rt.com/business/428460-us-appeals-chamber-wto/
Countries want to limit US veto power at WTO
1 Jun, 2018

Some member countries of the World Trade Organization (WTO) want to create an appeal mechanism that would prevent the US vetoing decisions it dislikes, according to Russian Economy Minister Maksim Oreshkin.

By September four seats will be vacant at the Appellate Body, the WTO appeals chamber, leaving three judges out of the necessary seven. Washington has blocked appointments to the chamber, thus engineering a crisis in the system of settling global disputes.


According to Oreshkin, without the appointments, the WTO appeals body would stop working next year. On Thursday, Oreshkin met with trade ministers from WTO member countries, and they discussed a mechanism that would allow the appeals chamber to work without getting a green light from the US.

"What we have discussed, have suggested is to create a mechanism without taking into account the US stance, which would allow us to settle cases which are reviewed at this appeal commission. We would work on this," the minister told reporters.

Since 1995, the WTO has expanded to cover around 95 percent of world trade, which has more than tripled to around $18 trillion per year in goods alone. US President Trump has taken a sharp stance on the WTO saying it’s a “catastrophe”. “We lose the cases, we don’t have the judges,” he said in February.

"The State is a body of armed men."

Offline Golden Oxen

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12070
    • View Profile
Re: 🚛 Trade Warz
« Reply #10 on: June 01, 2018, 07:12:18 PM »
This is a moot point.

Trump will pull his pants down and blow a fart in their face, he has no regard at all for these political clubs.

To my mind this whole trade war is bull shit political posturing play acting to the dim.

The world is to interdependent; we are completely dependent on imports from others.

Too many politicians with too much time on their hands to bull shit, grab headlines, and fill the heads of the dim with more bull shit rhetoric.

It's all nonsense and one more reason I choose to be a Libertarian.   


Offline Agent Graves

  • Rookie
  • Bussing Staff
  • *
  • Posts: 227
    • View Profile
Re: 🚛 Trade Warz
« Reply #11 on: June 01, 2018, 11:28:02 PM »
Thats not the way I see it Golden Oxen. Tarriff on German cars will only make them more of a status symbol. Threatening any oil and gas company doing business in Iran only sends all their oil and gas to china via russian drilling experience. I could go on, but you get the point.
Junior  Operative, FBI Counter-Doomsdaycult Taskforce

Offline Golden Oxen

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12070
    • View Profile
Re: 🚛 Trade Warz
« Reply #12 on: June 02, 2018, 03:54:44 AM »
Thats not the way I see it Golden Oxen. Tarriff on German cars will only make them more of a status symbol. Threatening any oil and gas company doing business in Iran only sends all their oil and gas to china via russian drilling experience. I could go on, but you get the point.

Hi Agent Graves, Pleasure to finally talk with you and have the opportunity to welcome you to the Diner.

Yes, your drift is clear but only partially true In my view.

The world economy has become so integrated with such an amount of consumer goods available that an onerous tax on a BMW would only lead the show off class to perhaps switch to a Lexus or a Masserati, perhaps the ultimate Genesis luxury vehicle from South Korea or even the new high end Cadillacs that sticker for 70 grand.

We saw already in the last trade war actions a backdowns and list of exemptions listed within days after the foolish announcements had been made. Count me as still believing this is mostly political pandering to the dim, but of course your point that it does have some effect is certainly valid.

                                                    Again Agent Graves, Pleasure to meet you and welcome.
« Last Edit: June 02, 2018, 03:56:36 AM by Golden Oxen »

Offline jdwheeler42

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 3313
    • View Profile
    • Going Upslope
Re: 🚛 Trade Warz
« Reply #13 on: June 02, 2018, 08:43:04 AM »
This is a moot point.

Trump will pull his pants down and blow a fart in their face, he has no regard at all for these political clubs.

To my mind this whole trade war is bull shit political posturing play acting to the dim.

The world is to interdependent; we are completely dependent on imports from others.

Too many politicians with too much time on their hands to bull shit, grab headlines, and fill the heads of the dim with more bull shit rhetoric.

It's all nonsense and one more reason I choose to be a Libertarian.
Or, alternatively, it is hyperintelligent, recognizing that global supply chains are about to break down anyway, and he wants to get the US ready for a more localized economy....



Okay, well, that's the reason why I don't oppose it....
Making pigs fly is easy... that is, of course, after you have built the catapult....

Offline Nearingsfault

  • Waitstaff
  • ***
  • Posts: 790
    • View Profile
Re: 🚛 Trade Warz
« Reply #14 on: June 10, 2018, 07:43:41 PM »
The globe and Mail is the more right leaning American friendly Toronto Paper.  https://www.theglobeandmail.com/opinion/editorials/article-globe-editorial-donald-trump-insults-canada-and-tests-its-patience/
I don't really know how I feel about this ongoing train wreck. We need diversified markets and to foster more production at home. The orange one could be just the kick in the pants we need to understand deals with the US are not worth the paper they are printed on. A sure sign of Collapse as we all withdraw into our national echo chambers.
If its important then try something, fail, disect, learn from it, try again, and again and again until it kills you or you succeed.

 

Related Topics

  Subject / Started by Replies Last post
Welcome to the trade deal wars

Started by Pepe Escobar Economics

0 Replies
301 Views
Last post August 30, 2015, 04:48:05 AM
by Pepe Escobar
0 Replies
113 Views
Last post March 23, 2018, 07:24:20 PM
by RE
5 Replies
554 Views
Last post June 29, 2018, 07:00:30 AM
by azozeo