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Trade War & Recession News and Discussions

trade war economy USA China EU UK Trump Mexico Canada recession

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#681
Sciencerocks

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53% of Americans support President Trump’s tough stance on China So do: 76% of self-identified Conservatives And 85% of Republicans Even Chuck Schumer and Nancy Pelosi support him! So why is Joe Biden opposing him? What does China have on him?



#682
Alislaws

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53% of Americans support President Trump’s tough stance on China So do: 76% of self-identified Conservatives And 85% of Republicans Even Chuck Schumer and Nancy Pelosi support him! So why is Joe Biden opposing him? What does China have on him?

I imagine that over his long and successful political career, Joe Biden has noticed that as a prominent democrat, he doesn't get many votes from republicans and self-identified conservatives. I don't have any figures to hand but I suspect that those groups would usually vote for republican candidates! 

 

With his lifetime of political experience he has probably figured out that he is much more likely to achieve success by going for the democrat voters who (if your quoted % are correct), must make up most of the 47% who are against Trump's China policies. 



#683
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UK predicted vs. actual growth

nWiQ63f.jpg


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


#684
Yuli Ban

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1LvwE5L.jpg

Because this is a sign of a normal, healthy economy, right?


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


#685
Alislaws

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UK predicted vs. actual growth

nWiQ63f.jpg

I always thought the UK was full of cynical people, Who knew our economists were such relentless optimists?



#686
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Trump: U.S., Mexico Reach Deal To Avoid New Tariffs

Source: NPR



The U.S. and Mexico have "reached a signed agreement" that would avert the tariffs that were scheduled to begin on Monday, President Trump said on Friday evening.

As part of the deal, Mexican officials "agreed to take strong measures to stem the tide of Migration," Trump tweeted.

"There is not much support in my conference for tariffs," Senate Majority Leader Mitch McConnell, R-Ky., told reporters after White House lawyers met with GOP senators ...

Lawmakers have warned the tariffs could hurt U.S. businesses and force U.S. consumers to pay more for products imported from Mexico.

 


Read more: https://www.npr.org/...oid-new-tariffs


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#687
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Mexico Never Agreed to Farm Deal With U.S., Contradicting Trump

Source: Bloomberg



Mexico never agreed to buy more U.S. farm products as part of a deal reached late Friday on border security and illegal immigration that averted the threat of U.S. tariffs, said three Mexican officials, contradicting a claim made by President Donald Trump.

Trump on Saturday told his 61 million Twitter followers in an all-caps message that Mexico had agreed to “immediately begin buying large quantities of agricultural product from our great patriot farmers.”

But the communique issued late Friday by the State Department -- the U.S.-Mexico Joint Declaration -- made no mention of agricultural trade as part of the agreement. Three Mexican officials said they were not aware of any side deal in the works.

The State Department didn’t respond to an inquiry made through its press department. The White House declined to comment or offer proof to back up Trump’s tweet. The Mexican foreign ministry’s press office declined to comment.

 

Read more: https://www.bloomber...radicting-trump



#688
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Top White House official Mick Mulvaney says public may never see Trump's 'secret deal' with Mexico

Source: CNBC


PUBLISHED 14 MIN AGO

Tucker Higgins
@TUCKERHIGGINS

KEY POINTS



President Donald Trump has said the biggest part of his new border deal with Mexico has not yet been revealed.

It may never be, according to his acting chief of staff Mick Mulvaney, who declined to discuss details of the arrangement in an interview with CNBC’s Eamon Javers on Tuesday.

“If I told you, it wouldn’t be the secret part of the deal, right?” Mulvaney said at the Peter G. Peterson Foundation’s Fiscal Summit.


President Donald Trump has said the biggest part of his new border deal with Mexico has not yet been revealed.

It may never be, according to his acting chief of staff Mick Mulvaney, who declined to discuss details of the arrangement in an interview with CNBC’s Eamon Javers on Tuesday. “If I told you, it wouldn’t be the secret part of the deal, right?” Mulvaney said at the Peter G. Peterson Foundation’s Fiscal Summit.

Asked when the public would see the secret deal, Mulvaney responded: “Maybe never.”

“Because if it works, it doesn’t make any difference,” Mulvaney said. He added: “The purpose here is not to satisfy your journalistic sort of, you know, inquiries as to what the deal is. The goal is to reduce the number of people crossing the border.”

 


Read more: https://www.cnbc.com...ith-mexico.html


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#689
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India set to raise tariffs on some US goods: reports

Source: France24


 


India has decided to raise tariffs on imports of 29 goods from the US after having deferred the move several times since announcing it last year, media reported Saturday.

The government had said last June it would raise import taxes on a slew of US goods including almonds and apples, apparently irked by Washington's refusal to exempt New Delhi from higher steel and aluminium tariffs. But it delayed raising tariffs several times as trade talks between the world's two biggest democracies raised hopes of a resolution.

However President Donald Trump's decision to strip New Delhi of its preferential trade status earlier this month appears to have triggered the latest Indian move.

There would be no further delays in imposing the retaliatory tariffs, the Economic Times reported, quoting a government official, with the new taxes due to take effect from Sunday.

 

Read more: https://www.france24...s-goods-reports



#690
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China raises tariffs on US, cuts levies on other countries

China is “rolling out the red carpet for the rest of the world” by lowering tariffs with other countries — even as its trade war with the U.S. continues to drag on, according to Peterson Institute for International Economics.
In a little known fact, Beijing has over the past year lowered duties on goods from countries that compete with America, the think tank said in a recent report.

The research showed that:

  • China’s average tariff rate on U.S. goods jumped from 8% at the start of 2018 to 20.7% this month.
  • China’s average tariff rate on its imports from all other countries fell from 8% at the start of 2018 to 6.7% last November. It has stayed at that level since then.
China’s move to lower tariffs on countries other than the U.S. has received little public attention, with much media coverage focusing on what Beijing and Washington say and do to each other.

 


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


#691
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Mexico first to ratify USMCA trade deal, Trump presses U.S. Congress to do same

Source: Reuters


MEXICO CITY (Reuters) - Mexico on Wednesday became the first country to ratify the United States-Mexico-Canada Agreement (USMCA) agreed late last year to replace the North American Free Trade Agreement (NAFTA) at the behest of U.S. President Donald Trump.

By a vote of 114 in favor to 4 against, Mexico’s Senate backed the deal tortuously negotiated between 2017 and 2018 after Trump repeatedly threatened to withdraw from NAFTA if he could not get a better trade agreement for the United States.

Mexican President Andres Manuel Lopez Obrador had already anticipated ratification this week in the Senate, where his leftist National Regeneration Movement (MORENA) and its allies have a comfortable majority in the 128-member chamber.

There has been little parliamentary opposition in Mexico to trying to safeguard market access to United States, by far Mexico’s top export destination, and the trade deal was approved with overwhelming cross-party support in the Senate.

 


-snip-

BUSINESS NEWS JUNE 19, 2019 / 4:00 PM / UPDATED 2 HOURS AGO
Miguel Angel Lopez, Dave Graham
4 MIN READ


Read more: https://www.reuters....e-idUSKCN1TK2U3



#692
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Trade Gap Jumps to $55.5B, Highest in Five Months

 

https://www.courthou...in-five-months/

 

Introduction:

 

(Courthouse News) – The overall U.S. trade gap surged to a five-month high of $55.5 billion in May, while the closely watched deficits with both China and Mexico also grew.

 

The difference between the number of goods and services the United States sells and buys from other countries increased 8.4% in May to the highest level since the 10-year high of $59.9 billion last December.

 

The goods deficit with China increased 12.2% to $30.2 billion, and the deficit with Mexico also widened by 18.1% to a record high of $9.6 billion.


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


#693
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Trump says India tariffs on American products are 'no longer acceptable'

President Donald Trump said Tuesday the U.S. needs to stand up to India on the trade front.
In a tweet, Trump said: “India has long had a field day putting Tariffs on American products. No longer acceptable!”
The iShares MSCI India ETF (INDA) ETF fell more than 1% in the premarket after the tweet was sent. It later recovered to trade along the flatline, however.
Earlier this year, the Trump administration stripped India of a preferential status that exempted billions of dollars worth of products made there from U.S. levies. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a proclamation.


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


#694
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Banks are passing their stress tests with flying colors. Uh oh.

 

https://theweek.com/...ng-colors-uh-oh

 

Introduction:

 

(The Week) In the aftermath of the 2008 collapse, financial regulators began "stress tests" for banks. These are meant to see if a bank can handle another economic shock. Basically, the Federal Reserve simulates an economic panic of some kind, and then sees how the banks' business models perform. The latest round of tests concluded last week, and virtually all the big Wall Street players passed with flying colors. The Fed had some reservations about Credit Suisse, but otherwise the 18 biggest banks had enough capital on hand to weather a crisis.

 

"It's really a good year for the big banks," Adam Gilbert, who leads the financial services advisory arm of PricewaterhouseCoopers, told Bloomberg. "It's a vote of confidence from the Fed."

 

Can we all breathe a sigh of relief that America's financial system rests on a firm foundation? Unfortunately, maybe not. Over the last few years, policymakers have toned down the "stress" part of the stress tests.

 

Part of the problem is just the practical challenge of simulating an economic crisis. As Mark Whitehouse pointed out, it's never just the unexpected shock — the burst housing bubble or stock collapse — that's the problem, it's all the cascade effects that have to be accounted for in the model too. It's an open question whether the stress tests were ever robust enough to really test Wall Street's resilience.

 

But even if they were at first, they might not be now.


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






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