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Trade War News and Discussions

trade war economy USA China EU UK Trump Mexico Canada recession

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#141
Yuli Ban

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Escalating trade war with U.S. could lead to North American recession

A new analysis of escalating trade disputes involving the United States warns that a deterioration into an all-out, global trade war would knock North America’s economies into a recession.
The report by Scotiabank says if the U.S. breaks all trade ties with its partners, and imposes across-the-board tariffs averaging 20 per cent, then Canada and Mexico would see their economies contract in 2020. 
For Canada, it predicts the economy would shrink 1.8 per cent.


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And remember my friend, future events such as these will affect you in the future.


#142
Yuli Ban

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The rust belt is being sold a lie – China has funded US spending

First it was Europe, Canada and Mexico. Now Donald Trump’s focus has switched to the real target for his trade war: China. Wilbur Ross, the US commerce secretary, is in Beijing for talks aimed at reducing America’s $30bn-a month-deficit. Exports of Chinese high-tech manufactured goods are top of Ross’s list.
Make no mistake: Trump’s strategy is a sign of weakness not strength. Countries that resort to protectionism normally do so for one of two reasons: to assist the development process when they are on the way up and to slow the pace of decline when they are in relative decline.
In America’s case, it is certainly the latter. Hefty tariffs of 40% on imported manufactured goods helped the US to build up its industrial power in the second half of the 19th century. By 1945, the US was by far the most powerful economy in the world, and supported trade liberalisation because it needed to find overseas markets for its goods.


And remember my friend, future events such as these will affect you in the future.


#143
Sciencerocks

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BREAKING: Trump to add $200 billion more in China tariffs
NYT



#144
Sciencerocks

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Newsweek: CHINESE STATE MEDIA SUGGESTS PRESIDENT TRUMP IS A 'FOOL'
Snip:

 

"Following the path of expanding and opening up is China's best response to the trade dispute between China and the United States, and is also the responsibility that major countries should have to the world," said an editorial in Xinhua news agency.

"The wise man builds bridges, the fool builds walls," it commented. "With economic globalization there are no secluded and isolated islands. No country can lightly build fences to stop the tides of history.”

The unflattering words didn't end there, the New York Times noted. Official Communist Party newspaper the People's Daily said Trump's administration had an "obsession with playing the disgraceful role of global economic disruptor."

“From the time of its first trade provocations until now, capricious behavior has become the norm from America. It not only wears away and squanders the country’s reputation, but it also allows China to see more clearly the face of the Trump administration, one that is rude, unreasonable, selfish and headstrong,” an editorial read.

 

More: http://www.newsweek....ump-fool-980268



#145
Sciencerocks

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U.S. May Impose Tariffs on Another $200 Billion Worth of Chinese Goods

https://www.nytimes....WT.nav=top-news

Trump Says U.S. May Impose Tariffs on Another $200 Billion Worth of Chinese Goods

June 18, 2018

 

WASHINGTON — President Trump escalated his trade fight with China on Monday, saying the administration would identify another $200 billion worth of Chinese goods that could face 10 percent tariffs, the latest volley in a dispute with a country that the president said was determined to keep the United States “at a permanent and unfair disadvantage.”

In a statement, Mr. Trump said that he had directed Robert E. Lighthizer, the United States trade representative, to pursue the additional tariffs in retaliation for Beijing’s decision last week to place tariffs on $50 billion worth of American goods including beef, poultry, tobacco and cars.

China threatened those tariffs after Mr. Trump on Friday said his administration would proceed with its own tariffs on $50 billion worth of Chinese imports.

“Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States,” Mr. Trump said. “The trade relationship between the United States and China must be much more equitable.”

 


Not a lot more at the link.

Here is a link to the statement from White House: https://publicpool.k...de-w-1826934812


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#146
Alislaws

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I keep seeing articles which say "If this continues we could end up in a trade war!" but obviously we are already in one. 

 

​What's the definition of a trade war if its not two (or more) nations engaging in tit for tat tariffs which are steadily escalating?

 

Is there some other feature that is needed before its officially a trade war? 


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#147
Yuli Ban

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Soybean prices plunge to nine-year low on US-China trade war fears

  • Soybean futures for July delivery drop more than 7 percent to a low of $8.415 a bushel, their lowest since March 2009, according to Thomson Reuters.
  • A war of words between the U.S. and China picked up overnight, following announcements of tit-for-tat tariffs on $34 billion worth of imports late last week.
  • If Beijing imposed a 10 percent tariff on U.S. soybeans, total American soybean exports could drop by 18 percent, according to one study.

And remember my friend, future events such as these will affect you in the future.


#148
Yuli Ban

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What's the worst that could happen with a US-Canada trade war?

The long-term impacts on the Canadian economy if the trade war with the U.S. continues don’t look good.
As NAFTA talks drag on into the summer and tariffs continue to be imposed on the U.S. by Canada and vice-versa, experts are warning that the worst case scenarios for Canada are pretty dire.
“Further moves by the U.S. to initiate a global trade war would, unsurprisingly, be expected to tip all three countries into recessions,” economists at Scotiabank Economics state in a report, referring to Mexico as well.
It’s not just Canada and Mexico at the mercy of the United States’ trade strategy, either. U.S. President Donald Trump has ordered tariffs on $200 billion of Chinese goods, to which China has threatened “comprehensive measures” in response.


And remember my friend, future events such as these will affect you in the future.


#149
Yuli Ban

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China Has a Nuclear Option in the Trade War

Because China has a big trade surplus with the U.S., it can’t nearly match the American tariffs. But it can hurt U.S. companies doing business there. And it has a doomsday weapon, notes Brian Chappatta: It can just stop buying U.S. Treasury debt. China is the world’s biggest Treasury investor, keeping U.S. borrowing costs low, helping us buy more stuff from China. Ending this symbiotic relationship just when U.S. budget deficits are soaring would devastate the U.S. economy – but it could blow up China’s too.
A combination of politics and economics should pull both sides back from mutually assured destruction – assuming both sides want to avoid that. With Trump, that’s not entirely clear.

Who wants to bet China will use this weapon by 2020?


And remember my friend, future events such as these will affect you in the future.


#150
Yuli Ban

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Boycotting U.S. products? Here’s how to buy Canadian during a trade war

As the trade dispute between the U.S. and Canada continues to mount, some Canadian customers are hoping to hit back against our southern neighbours with their wallets.
This comes after U.S. President Donald Trump slapped Canada with tariffs on steel and aluminum last month, causing Canada to retaliate with its own levies. And when Prime Minister Justin Trudeau defended Canada, saying our country “won’t be pushed around,” Trump accused him of being “meek and mild” and “dishonest and weak.” 
This seems to have struck a chord with Canadian consumers and some are considering focusing their spending within Canada to show solidarity, using the hashtag #BoycottUSProducts on Twitter.


And remember my friend, future events such as these will affect you in the future.


#151
Yuli Ban

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Trump says Canadians are smuggling shoes out of the US

President Trump railed against Canada on Tuesday, again accusing our northern neighbor of unfair trading practices — and a story in The Post that said Canadians come to the US to buy shoes and then smuggle them back into their country to avoid stiff tariffs.
“There was a story two days ago in a major newspaper talking about people living in Canada coming into the United States and smuggling things back into Canada because the tariffs are so massive,” he said during a rambling speech at the National Federation of Independent Business’ 75th anniversary celebration at the Hyatt Regency.

who-attacks-canada-seriously.jpg


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#152
Yuli Ban

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Beijing has tactics besides just tariffs to hurt the U.S. in a trade war
"China is not a country of laws — it’s an authoritarian dictatorship… so from that opening point, China is potentially able to play much, much dirtier."

As President Donald Trump ratchets up trade war rhetoric against China this week, trade experts worried that the world’s second-largest economy will unleash a Pandora’s Box of punitive tactics against American companies.
After Trump threatened another $200 billion in tariffs in response to China’s pledge to match an initial $50 billion in trade sanctions, the Chinese Ministry of Commerce promised quantitative and qualitative retaliatory measures in its response on Tuesday.
 
Some economists remained nonplussed by the escalating tensions, pointing out that while the United States imports more than $500 billion worth of goods from China, the value of our exports is only around $130 billion. This imbalance means that China will run out of ammunition in tit-for-tat tariff responses well before the United States, giving it less leverage.
 
“It’s true that the base on which they can put on additional tariffs is much narrow than the U.S.,” said Ludovic Subran, global head of macroeconomic research at Allianz and chief economist at Euler Hermes.
 
But Subran and other international trade experts warn not to count China out too quickly.


And remember my friend, future events such as these will affect you in the future.


#153
Yuli Ban

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Markets Begin to Take Threat of Trade War Seriously

Global markets convulsed Tuesday after U.S. President Donald Trump called for further tariffs against China, the starkest sign yet that the threat of a trade war—once dismissed by many investors as unlikely—is rising again.
Chinese stocks logged one of their steepest declines this year, with the Shanghai Composite Index dropping 3.8%. Indexes in major exporters Germany and France slid, while the Dow Jones Industrial Average tumbled 1.5%, on course for its largest one-day fall of the month.
Meanwhile, the dollar rose and government bonds rallied, sending the yield gap between the 2- and 10-year Treasury notes to its narrowest level since August 2007. A narrowing yield gap often indicates a pessimistic outlook among investors.


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#154
Yuli Ban

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World's Biggest Economies Not Prepared For Another Recession

Former U.S. Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and central banks should be wary of raising interest rates just to control inflation.

“The issue that’s preoccupied monetary policy for the generation before the financial crisis -- the avoidance of inflation -- is no longer the top issue,” Summers said in a Bloomberg Television interview with Stephanie Flanders on Tuesday. It’s the “maintenance of sound growth and getting to full employment.”


And remember my friend, future events such as these will affect you in the future.


#155
Yuli Ban

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Trump threatens almost all Chinese imports as Beijing fires back

China has underestimated President Donald Trump’s resolve to move forward with tariffs unless Beijing changes its “predatory” trade practices, a top U.S. trade adviser said on Tuesday, in comments that diminished the chances of a negotiated settlement to a looming trade war between the world’s economic superpowers.
The growing U.S. trade conflict with China hit financial markets hard, and Beijing vowed a firm response. It accused the United States of “extreme pressure and blackmailing” and vowed to retaliate after Trump on Monday threatened to slap a 10 per cent tariff on $200 billion of Chinese goods in addition to the import duties previously announced on $50 billion in goods.
White House trade adviser Peter Navarro, who views China as a rival economic and military power, said Beijing had more to lose from a trade war. With Trump’s latest salvo, he has now threatened tariffs on up to $450 billion in China’s exports, out of a total of just over $500 billion in goods sold to the United States.


And remember my friend, future events such as these will affect you in the future.






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