Jump to content

Welcome to FutureTimeline.forum
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!

These ads will disappear if you register on the forum

Photo

Trade War & Recession News and Discussions

trade war economy USA China EU UK Trump Mexico Canada recession

  • Please log in to reply
420 replies to this topic

#1
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

Here's a thread meant to discuss the trade war, which is either looming or already in progress depending on how optimistic you are.

It appears China has stopped buying soybeans from the US altogether because of trade fight

  • "Whatever they're buying is non-U.S.," Soren Schroder, CEO of New York-based Bunge, the world's largest oilseeds processor, told Bloomberg in a phone interview.
  • China canceled a net 62,690 metric tons of U.S. soybean purchases in the two weeks ended April 19, the Bloomberg article pointed out, citing USDA data for the current marketing year.
  • The country is the second largest market for U.S. agricultural exports, and soybeans have historically have been one of the top products sold to the Asian giant, according to the U.S. Department of Agriculture Foreign Agricultural Service.

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


#2
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

'We Will Not Negotiate Under Threat'

Trump is using the possibility of tariffs to get trade concessions from Europe. The Europeans are not interested

At the last minute, the United States this week deferred a decision about whether to subject Europe to steel and aluminum tariffs. Trump at first announced sweeping and expensive measures designed to discourage imports of those products to the United States from around the world, but soon began distributing exemptions to some allies. The European Union thus got a reprieve, but when it came time for Trump to decide whether to make it permanent, he instead extended it for 30 days—within which time, perhaps, he expects negotiators to be able to convince the Europeans to submit to Washington’s demands.
But the Europeans don’t seem interested. European leaders like France’s Emmanuel Macron and Germany’s Angela Merkel lobbied hard during their respective trips to Washington last week in order to secure permanent EU exemptions to the tariffs, warning that the U.S. risks starting a “trade war with your ally” without one. In response to the 30-day extension Tuesday, Brussels struck an indignant note, declaring in a European Commission statement that “as a longstanding partner and friend of the U.S., we will not negotiate under threat.”


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


#3
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

The looming US-China trade war, explained

President Donald Trump is sending his top economic advisers to Beijing this week for talks to avert a possible trade war with China.
US Treasury Secretary Steve Mnuchin, US Trade Representative Robert Lighthizer, and other senior economic officials will meet with Chinese officials on Thursday and Friday to discuss the two countries’ trade disagreements.
Among other things, the US wants China to import more American goods and to stop forcing American companies to hand over their prized intellectual property if they want to do business in China.
It already looks like talks are going to be tough. Chinese officials have declared they will refuse to discuss two of the US’s biggest demands, and US officials are signaling that they aren’t particularly optimistic.


  • Maximus likes this

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


#4
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

US-China talks end in increased tension and demand for $200bn trade deficit cut

Tensions between the US and China increased on Friday as it emerged US officials had handed Beijing a list of demands including a $200bn cut in its trade deficit and an end to state subsidies on strategic industries.
The two days of talks in Beijing between Steven Mnuchin, the US treasury secretary, and Liu He, the vice-premier, ended on Friday after weeks of escalating rhetoric between the two nations.
A statement released by the official Xinhua news agency described the talks as “frank, efficient and constructive” but added that there remained “significant disagreements over certain issues”.
No joint statement was released and according to The Wall Street Journal the Chinese too made demands - calling on the US to stop threatening to impose $150bn in tariffs on imports and ease national-security reviews of Chinese investments.


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


#5
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

U.S. Farmers Are Already Suffering From Lost Chinese Orders for Corn, Soybeans and Pork

The U.S.-China trade spat is cutting into the flow of soybeans, pork and other commodities from U.S. farms to one of the world’s biggest markets.
Since early April, when China announced tariffs on some U.S. agricultural goods and threatened to target others, Chinese importers have canceled purchases of corn and cut orders for pork while dramatically reducing new soybean purchases, according to U.S. Department of Agriculture data. Chinese importers’ new orders of sorghum, a grain used in animal feed, have dwindled while cancellations increased.

The chill in agricultural trade is sending jitters through the U.S. Farm Belt, which for years has dispatched farmers on trade missions to cultivate the Chinese market.
“As the summer persists and if nothing’s been resolved, it will start showing up as a pretty big hole in U.S. exports, ” said Soren Schroder, chief executive of Bunge Ltd., one of the world’s largest processors and traders of soybeans.


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


#6
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

Exposed and dependent: Germany desperate to avoid trade war

As Europe’s biggest exporter to the United States and with more than 1 million German jobs at stake, Germany is desperate to avoid a European Union trade war with the United States. In the run-up to a June 1 deadline for U.S. President Donald Trump to impose steel and aluminum tariffs on the EU, Berlin is urging its European partners to show some flexibility and pursue a broad trade deal that benefits both sides.
 
But that puts Germany at odds with European peers such as France. Paris, the other half of the motor driving European integration, resents Germany’s big trade surplus and wants a tougher EU stance against the U.S. tariffs.
 
“There is a great danger of slipping into a trade war that way,” Holger Bingmann, president of Germany’s BGA foreign trade association, told Reuters.


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


#7
caltrek

caltrek

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 7,450 posts

No trade war with Germany, says US ambassador

 

https://www.thenatio...ssador-1.729545

 

Introduction:

 

(The National) The new US ambassador to Germany said the row over Washington's planned imposition of punitive tariffs on European goods would not trigger a trade war, adding that President Donald Trump only wanted "a level playing field".

 

In an interview with the Funke newspaper group, Richard Grenell insisted that the United States was awaiting proposals on how punitive tariffs could be averted.

 

"Germans are doing a phenomenal job on trade," he said. "There will be no trade war ... We are talking with our friends to solve a problem."

 

The United States wanted to see Europe's proposals before deciding what would follow the expiry of an already extended June 1 deadline to impose tariffs, he added.

 

Less than a week into the job, Mr Grenell has already triggered headlines with his demand in a tweet that German companies in Iran should "wind down operations" immediately after Trump withdrew the United States from an international nuclear deal.

GERMANY-USA-DIPLOMACY.jpg?f=16x9&w=1200&

The new US Ambassador to Germany, Richard Allen Grenell signs the guest book prior to his diplomatic accreditation ceremony at Bellevue Palace in Berlin, Germany, 08 May 2018.

EPA/FELIPE TRUEBA


  • Yuli Ban likes this

The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#8
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

China buys record amount of Russian soybeans after canceling US orders over Trump threats
Source: thehill

 


By Josh Delk - 05/17/18 02:04 PM EDT

...............................

 

The world's biggest soybean importer, China has nearly tripled its imports from Russia, according to Bloomberg. Russian trade data show the country sold 850,000 metric tons of soybeans to China between July 2017 and mid-May this year.
...................................

The move comes amid China's halt on purchases from the U.S., the world's largest producer of soybeans.

China has cancelled multiple U.S. shipments in recent weeks ahead of tariffs, including a 62,690-ton purchase on April 19, Bloomberg reported earlier this month.

China included soybeans on a list of tariffs on U.S. products last month totaling $50 billion, a direct response to the Trump administration's announcement of $150 billion of tariffs against Chinese imports. ..........................

 

Read more: http://thehill.com/b...t-on-us-imports



#9
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

Japan plans retaliatory tariffs against United States

Japan is considering tariffs on U.S. exports worth $409 million in retaliation against steel and aluminum import tariffs imposed by President Donald Trump, media reported on Thursday.  
Such a move would signal Tokyo is ready to go beyond backdoor talks and pleas for exemptions from the U.S. duties.
 
It would also add to a growing rift that Trump’s “America First” trade policies is creating among major economies, which threatens to slow global trade and business activity.
 
Japan is the only major U.S. ally that did not receive exemptions from Trump’s tariff decision. But it has refrained from following in the footsteps of China and the European Union, which responded to the U.S. decision with reciprocal threats.


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


#10
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

China Rejects U.S. Target for Narrowing Trade Gap
Source: Wall Street Journal

 

A last-ditch effort by the Trump administration failed to get China to accept its demand for a $200 billion cut in the U.S. bilateral trade deficit, as Chinese officials resisted committing to any specific targets after two days of contentious negotiations.

 

Read more: https://www.wsj.com/...-gap-1526756661


  • Yuli Ban likes this

#11
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

EU and India give WTO lists of US goods for potential tariff retaliation totalling €1.5 billion

  • India and the European Union have given the World Trade Organization lists of the U.S. products that could incur high tariffs in retaliation for U.S. President Donald Trump's global tariffs on steel and aluminum.
  • The EU said Trump's steel tariffs could cost $1.5 billion and aluminum tariffs a further $100 million, and listed rice, cranberries, bourbon, corn, peanut butter and steel products among the U.S. goods that it might target for retaliation.

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


#12
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

Japan reserves right to take countermeasures against US steel tariffs

  • Japan has notified the World Trade Organization that it reserves the right to take countermeasures against U.S. tariffs on steel and aluminum imports.
  • Japan is the only major U.S. ally that did not receive exemptions from U.S. President Donald Trump's decision in March to set import tariffs of 25 percent on steel and 10 percent for aluminum.
  • The Japanese government will make any decision on its actual implementation of "rebalancing" measures on the basis of further U.S. steps, as well as the possible impact of retaliatory measures by Tokyo on Japanese companies.

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


#13
Alislaws

Alislaws

    Democratic Socialist Materialist

  • Members
  • PipPipPipPipPipPipPip
  • 1,249 posts
  • LocationLondon

In Summary:

 

USA: "Yo China! We're buying too much stuff from you, you have to buy more stuff from us or its unfair."

 

China: "We're buying a lot, but our people just don't seem to want more of your stuff"

 

USA: "We will put tariffs on everyone's stuff so our people stop buying so much then!"

 

China: "Okay, but then we will put tariffs on your stuff, and probs buy from other people"

 

EU: "You Tariff us, we Tariff you bro!"

 

India: "For Reals!"

 

Japan: "You're putting tariffs on stuff! WTF? I feel like I don't know you anymore!"

 

USA: "This is totes unfair!"

 

...


  • Yuli Ban, Erowind and rennerpetey like this

#14
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

Washington Post: China is winning Trump's trade war
Trump is killing my country.

 

It was easy to miss the U.S.-China trade statement that the White House released Saturday, right in the midst of royal wedding mania. But it's hard to hide that China looks as if it's winning President Trump's trade skirmish — so far.

The statement said that, after several days of talks, the Chinese agreed to “substantially” reduce the United States' $375 billion trade deficit with China and that the details would be worked out later. It was noticeably vague.

Notice China didn't agree to a specific amount. On Friday, Trump's top economic adviser, Larry Kudlow, was telling reporters that the Chinese had agreed to reduce the deficit by “at least” $200 billion. China quickly denied that, and, a day later, the official statement didn't have a concrete number, a seeming victory for the Chinese.

Reaction to the announcement was mostly negative, even among people who are usually Trump allies. Dan DiMicco, a former steel CEO who has been a big supporter of Trump's steel and aluminum tariffs, tweeted shortly after the statement came out, “Not good enough. Time to take the gloves off.” He followed that up with: “Did [the] president just blink? China and friends appear to be carrying the day.” Fox Business host Lou Dobbs summed up the situation this way: “Chinese say 'no deal.' ”

Sen. Marco Rubio (R-Fla.) tweeted, “Why do U.S. officials always fall for China trickery?” Wall Street Journal trade reporter Bob Davis tweeted that the big takeaway is: “Trump administration gets rolled by the Chinese.”

 

https://www.washingt...rumps-trade-war



#15
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

Trump officials weigh 25 pct tax on imported cars
Source: Washington Post

 

The Trump administration is considering new tariffs on imported cars in a move that trade analysts said was designed to put pressure on Mexico during the final stages of negotiations for a new North American trade deal.

Officials may cite national security grounds to justify a 25 percent tariff on imported vehicles, a senior administration official said, speaking on condition of anonymity to discuss internal deliberations. President Donald Trump used the same provision of US trade law in March when he called for tariffs on foreign-made steel and aluminium.

Wednesday evening, the White House announced that Trump had directed Commerce Secretary Wilbur Ross to launch a formal investigation of the possible need for such industrial protection. "Core industries such as automobiles and automotive parts are critical to our strength as a Nation," the president said.

Negotiators for the United States, Mexico and Canada remain deadlocked over rules for granting duty-free status to vehicles under a new North American trade deal.

 

 

Read more: https://www.nzherald...jectid=12057730


  • Yuli Ban likes this

#16
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

Trump versus Rwanda in trade battle over used clothes

 

A worker prepares thread at the the Utexrwa garment factory in Kigali, Rwanda April 17, 2018. Picture taken April 17, 2018. REUTERS/Jean Bizimana

KIGALI/ABIDJAN (Reuters) - Early last year, weeks after Donald Trump was sworn in as president, a little known American trade association filed a petition with the U.S. Trade Representative.

That seven-page letter set Africa in the cross-hairs of the new administration’s ‘America First’ trade ideology, pitting the world’s largest economy against tiny Rwanda over an unlikely U.S. export: cast-off clothes.

In March, the USTR warned Rwanda it would lose some benefits under the African Growth and Opportunity Act (AGOA), America’s flagship trade legislation for Africa, in 60 days after it increased tariffs on second-hand clothes to support its local garment industry.

“The president’s determinations underscore his commitment to enforcing our trade laws and ensuring fairness in our trade relationships,” Deputy U.S. Trade Representative C.J. Mahoney said, announcing the decision.

 

 

https://www.reuters....s-idUSKCN1IP0WB



#17
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

White House Moves Ahead With Tough Trade Measures on China

The Trump administration said on Tuesday that it would proceed with plans to impose a series of punitive trade-related measures on China in the next month, intensifying pressure on Beijing as trade talks between the countries continue.
The White House said in a statement that the United States would move ahead with its plan to levy 25 percent tariffs on $50 billion of imported Chinese goods, despite recent remarks by Steven Mnuchin, the Treasury secretary, and other administration officials that the tariffs would be suspended while the countries continued their negotiations.
The administration had previously announced a list of goods that would be subject to tariffs, including flat-screen TVs and medical devices. It then held a series of hearings on the tariffs, giving the public a chance to influence the final list. The White House said it would detail the final list of goods that will be subject to the tariffs by June 15, and the duties would be imposed shortly after that, the statement said.


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


#18
caltrek

caltrek

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 7,450 posts

Trade war?

 

About time we started discussing something that has been occurring for decades.  A war in which U.S. workers continue to lose.

 

Trade Negotiations Require a Steel Spine

 

Introduction:

 

President Donald Trump dealt himself a strong hand before negotiating with China.

 

He held three aces. He’d placed tariffs on imported aluminum and steel in response to unrelenting Chinese overproduction. He’d threatened tariffs on $150 billion in Chinese imports in retaliation for theft and forced transfer of American intellectual property. And for trade violations, he forbate U.S. companies to sell parts to Chinese cell phone giant ZTE, forcing it out of business.

 

And then, inexplicably, his lead negotiator, Treasury Secretary Steven Mnuchin, quickly folded in talks in Washington, D.C.,  last week. He left two days of negotiations with top Chinese officials with what amounts of an unenforceable letter of intent.

 

This “joint statement” says the Chinese will buy some more American made stuff, improve its protections for American intellectual property and patents, and remove some barriers preventing U.S. companies from operating in China. But there are no specifics and no enforcement.

 

Vague Promises

 

In exchange for these vague promises, Mnuchin suspended the tariffs. In addition, on Tuesday, the Wall Street Journal reported that the United States and China had reached a tentative deal to save ZTE, despite the fact that ZTE failed to honor an earlier agreement made after it violated trade embargoes against Iran and North Korea.

 

Yes, there is the Korea thing.  So, underemployed or overworked employees get to pay enormous taxes (or pass those taxes along to their sons and daughters) to support a bloated military industrial complex.  Cold War considerations outweigh trade policy considerations.  Meanwhile, out of a sort of quiet desperation, working class Trumpians believe their fearful leader's every word.  


  • Yuli Ban likes this

The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#19
Yuli Ban

Yuli Ban

    Born Again Singularitarian

  • Moderators
  • PipPipPipPipPipPipPipPipPipPipPip
  • 19,066 posts
  • LocationNew Orleans, LA

China slams surprise U.S. trade announcement, says ready to fight

China lashed out on Wednesday at renewed threats from the White House on trade, warning that it was ready to fight back if Washington was looking for a trade war, days ahead of a planned visit by U.S. Commerce Secretary Wilbur Ross.
In an unexpected change in tone, the United States said on Tuesday that it still held the threat of imposing tariffs on $50 billion of imports from China unless it addressed the issue of theft of American intellectual property.
 
Washington also said it will press ahead with restrictions on investment by Chinese companies in the United States as well as export controls for goods exported to China.


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


#20
Sciencerocks

Sciencerocks

    Member

  • Members
  • PipPipPipPipPipPipPipPipPipPip
  • 9,745 posts

U.S. to slap steel and aluminum tariffs on European Union
Source: Axios

 

Plans for the Trump administration to hit the European Union with steel and aluminum tariffs could be announced as early as Thursday, reports the Wall Street Journal citing people familiar with the matter.

Why it matters: The EU has threatened retaliatory tariffs on U.S. products such as "motorcycles, jeans and bourbon." The report follows Commerce Secretary Wilbur Ross' criticism that the European Union isn't negotiating on trade thanks to the United States' steel and aluminum tariffs, citing China as a counterexample.

What to expect: If the tariffs go through, you'll see domestic and imported steel and aluminum prices spike because the EU is a top supplier.

The EU will likely retaliate almost immediately. They’ve already filed what they plan to do — their list of retaliatory measures — at the World Trade Organization (WTO.) The EU’s big public threats are tariffs on Harley Davidsons and Kentucky whiskey (targeting Paul Ryan and Mitch McConnell respectively.)

The snowball effect: The U.S. imposing tariffs would likely have knock on effects. Until now, the only country that has directly retaliated against the U.S. on these steel and aluminum tariffs is China. Add in to the mix other countries who have made threats but haven’t retaliated — yet.

 

Read more: https://www.axios.co...ddcb3990cb.html







Also tagged with one or more of these keywords: trade war, economy, USA, China, EU, UK, Trump, Mexico, Canada, recession

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users