So.....China is fucked

[AKIQPilot]

5 hours ago, Mileage Psycho said:

The taking on of all trade partners at one time makes no sense, Trump should have systematically picked off trade agreements in small batches.

Also in what conservative world do we have the POTUS picking winners and losers in our economy as is happening right now?

Does Obama and GM ring a bell?  Oh that's right, he wasn't conservative.  

[f7ben]

23 minutes ago, AKIQPilot said:

Does Obama and GM ring a bell?  Oh that's right, he wasn't conservative.  

I don't understand how trying to mitigate hostile behaviour by another country that is damaging your manufacturing ability is "picking winners" 

[AKIQPilot]

9 minutes ago, f7ben said:

I don't understand how trying to mitigate hostile behaviour by another country that is damaging your manufacturing ability is "picking winners" 

It’s helping American companies and producers so that is picking winners. Not what Vince was imlying though. 

[Mileage Psycho]

12 hours ago, f7ben said:

https://www.cnbc.com/2018/06/28/global-stocks-see-biggest-loss-of-investor-cash-since-the-financial-cr.html

 

People are trampling themselves sprinting for the exits on global stocks and yet the US markets are stable and seeing capital flow in. Now you tell me who the world really thinks is going to emerge from a trade war unscathed and in the drivers seat.

Watch the value of the remnimbi, it's been in decline since December...of course Trump has said in the past that the Chinese are currency manipulators so what do they have to lose.

 If you think the US is going to come out unscathed I would say you are mistaken, will there be business winners in the US? Sure. Will there be business losers in the US? Absolutely.

I suppose the one good thing about tariffs is that it creates revenue for the government, and we do know that our government has a huge debt problem that our recent tax cut has exacerbated, the tariff (tax) should help especially it light of it being spread across all consumers

 

 

 

[Zambroski]

7 hours ago, f7ben said:

I don't understand how trying to mitigate hostile behaviour by another country that is damaging your manufacturing ability is "picking winners" 

It’s not.

7 hours ago, AKIQPilot said:

It’s helping American companies and producers so that is picking winners. Not what Vince was imlying though. 

It’s this.

How dare we!!!!!  HOW DARE WE!!!!!

[Zambroski]

10 minutes ago, Mileage Psycho said:

Watch the value of the remnimbi, it's been in decline since December...of course Trump has said in the past that the Chinese are currency manipulators so what do they have to lose.

 If you think the US is going to come out unscathed I would say you are mistaken, will there be business winners in the US? Sure. Will there be business losers in the US? Absolutely.

I suppose the one good thing about tariffs is that it creates revenue for the government, and we do know that our government has a huge debt problem that our recent tax cut has exacerbated, the tariff (tax) should help especially it light of it being spread across all consumers

 

 

 

Dude, stop it.  Overall, we’re goong to come out much better than we have in decades in this shit.  MUCH BETTER.  Why do you hate America trying to make things fair for our workers and companies?  It’s weird.

[Mileage Psycho]

7 hours ago, AKIQPilot said:

Does Obama and GM ring a bell?  Oh that's right, he wasn't conservative.  

Thanks for bringing up GM!!  

 

Quote

 

GM And Mazda Say That Trump's Tariffs Are Going To Cost American Jobs 

Following multiple automakers’ negative reaction in response to President Trump’s proposed increase of automotive import tariffs, General Motors and Mazda have separately encouraged the Department of Commerce to reject Trump’s proposal.

Last month, President Trump ordered the Department of Commerce to launch an investigation into the impact of imported cars and car parts to determine if they pose a threat to national security, surely because Miatas strike fear in the hearts of their enemies.

In statements published today in response to the Commerce Department’s investigation, both Mazda and General Motors have essentially said as much.

Mazda, on behalf of its 32,000 American employees, warned that the 25 percent tariff that may result from the government’s investigation “is a tax and it will be paid by American consumers,” and that it “will significantly increase the cost of every new vehicle sold in America, regardless of where it is built.”

General Motors warned of even more extensive repercussions it may face with the new tariff, via Automotive News:

“If import tariffs on automobiles are not tailored to specifically advance the objectives of the economic and national security goals of the United States, increased import tariffs could lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less — not more — U.S. jobs,” GM said.

GM also warned that the tariffs could undermine its competitiveness against foreign automakers in foreign markets, and could lead to “negative consequences for our company and U.S. economic security.”

The statement continued:

“Alternatively, if prices are not increased and we opt to bear the burden of tariffs or plant moves, this could still lead to less investment, fewer jobs, and lower wages for our employees. The carry-on effect of less investment and a smaller workforce could delay breakthrough technologies and threaten U.S. leadership in the next generation of automotive technology,” GM said.

Earlier this week, Toyota also made a bold statement, claiming its 137,000 U.S. workforce was not a national security threat, and warning that the cost of its American-made Camry sedan would increase by at least $1,800.

The investigation follows Trump’s recently imposed tariffs on steel and aluminum, which already threaten to increase the cost of automotive manufacturing and increase vehicle prices for consumers.

The Department of Commerce has 270 days to complete its investigation from the start date, followed by a 90-day period for the President to determine if the findings are agreeable before deciding on whether or not take action.

https://jalopnik.com/gm-and-mazda-say-that-trumps-tariffs-are-going-to-cost-1827247669

 

 

[Mileage Psycho]

7 hours ago, f7ben said:

I don't understand how trying to mitigate hostile behaviour by another country that is damaging your manufacturing ability is "picking winners" 

Here is a perfect example of the winner/loser scenario in a trade war, and perhaps it will help you understand how some are picked as winners and some as losers, it is what it is.

 

Quote

 

In southeast Missouri's Trump Country, a manufacturer wrestles with the negative side of Trump's tariffs

• By Kevin McDermott St. Louis Post-Dispatch

POPLAR BLUFF, Mo. • On one of the sprawling factory floors at Mid Continent Nail Corp., amid the crushing heat and deafening noise of the machines, towers of coiled steel maybe 3 feet wide and 8 or 9 feet tall stand in clusters around the room like a metallic forest.

That steel is the problem. The raw material for the nails comes from Mexico and, due to new tariffs imposed against that country by President Donald Trump’s administration, it now costs the company 25 percent more than it did before June 1. That has translated into higher nail prices, lost customers and 60 recent layoffs, with potentially hundreds more lost jobs to follow.

“We’re making decisions one day at a time,” Chris Pratt, operations general manager for the plant, said during a tour of the facility Friday for Sen. Claire McCaskill, D-Mo., and reporters. “We just need relief as quick as possible. Every day it’s a financial burden. ... We’re paying workers that are not able to produce because we’ve shut 50 percent of our production down because of lack of orders.”

For Poplar Bluff, a poverty-wracked town of 17,000 deep in southeastern Missouri, this wasn’t how Trump’s economic cavalry was supposed to arrive.

In the 2016 election, Trump won surrounding Butler County with almost 80 percent of the vote; Hillary Clinton didn’t break 18 percent. Trump’s promise to “Make America Great Again” hit home for many in a town whose empty downtown storefronts stand as mocking relics of better times.

About a quarter of the area’s residents live below the poverty level, a receptive audience for a campaign that warned its followers they were being neglected and vowed to fix it. The region’s congressman, Rep. Jason Smith, R-Salem, routinely tweets out fervent backing of Trump and his policies — including early support of Trump’s long-promised trade war with the rest of the world.

But instead of providing the economic lift Trump supporters here believed would come from it, that trade war has knocked one of the region’s biggest manufacturers — and the biggest American nail maker in the country — back on its heels.

The company is now begging for the administration to grant an exemption to the tariffs and warning that it could be out of business by Labor Day if it doesn’t.

The tariff policy “has put this company on the brink of extinction,” Mid Continent spokesman James Glassman told a CNN interviewer last week.

Smith is still tweeting out Trump’s praises, but he has gone notably silent on the hundreds of endangered local jobs that community residents and state, national and even international media outlets are writing about.

Smith’s office responded to a Post-Dispatch request for an interview with a written statement reiterating Smith’s support for Trump’s trade policies in general, while also supporting the company’s request for an exemption from those policies. Smith wasn’t at Friday’s open-press tour of the factory.

“He has been asked to talk about it throughout the district,” said Kathy Ellis, a Democrat from Festus running for Smith’s seat this fall. “He has not, to my knowledge, spoken of it.”

On May 31, Trump announced tariffs on steel and aluminum imports from Canada, Mexico and the European Union. It was the culmination of the trade war he’d been vowing to start since before his 2016 election victory.

“Trade wars are good, and easy to win,” Trump declared earlier this year.

The stated purpose was to protect American manufacturing jobs from foreign competition. But for Mid Continent Nail, it quickly had the opposite effect.

The plant is owned by a Mexico-based company and imports steel from Mexico, which American workers in Poplar Bluff turn into nails. With Mexican steel suddenly 25 percent more expensive due to Trump’s tariffs, the company had to raise the price of its nails, which drove down sales.

Within a few weeks of the start of the tariffs, sales had fallen by 50 percent. Company officials say much of its lost business went to cheaper imported Chinese nails.

“It’s chaotic, and there’s some incompetence involved” in how the tariffs have been implemented, McCaskill told company officials as she toured the plant. “They’re chasing your customers into China’s arms.”

Its profits falling, Mid Continent laid off 60 workers in mid-June. It publicly warned that another 200 of its roughly 500 total employees could go by the end of July. And it opened the possibility of folding completely if something didn’t change.

The company is asking the Commerce Department for an exemption to the tariffs for its supplier, but so are thousands of other companies. Barring that, it says, the plant might relocate to Mexico to escape the effects of the tariffs.

“This company, I think, couldn’t be a better example of the kind of damage that’s being done to America’s manufacturing jobs as a result of this extremely misguided policy,” Glassman, the company spokesman, told CNN last week.

Last year, Smith hailed Trump’s plans to impose new tariffs on imported aluminum, saying it would bolster the struggling aluminum industry in his Eighth District.

“This president is about jobs,” Smith said in a media account at the time. “This president is about the American worker, and what he did today was making sure that we have an aluminum industry in the United States.”

In fact, the aluminum tariff, along with a major change in state utility law, did help restart an aluminum smelter in nearby New Madrid earlier this year, bringing back more than 400 jobs. But the celebration of that success will be short-lived if the trade-off is 500 lost jobs an hour west due to the related steel tariffs.

Smith, in his statement to the Post-Dispatch, lauded Trump’s “continued efforts to negotiate a better deal for the workers, farmers, and families in southern Missouri who have been on an uneven playing field for too long.”

The statement said that Smith had met with the Mid Continent Nail Corp.’s owners and employees and the White House, and that “I think they make a good case for an exemption” from the tariffs. He said he had asked the Commerce Department to expedite the exemption request.

Smith’s office declined to specify whether he supported the steel tariffs in general.

The company — perhaps mindful that tariff problems or no tariff problems, this is still Trump country — ran a full-page ad Friday in the local newspaper, the Daily American Republic, addressing Trump, that begins: “More than any president in our time, you have shown compassion for U.S. manufacturing workers.”

It goes on to ask Trump to “please show your compassion and dedication to U.S. manufacturing and grant us an exclusion” from the tariffs.

Ellis, the Democratic candidate, said she believed the issue could make some in the region rethink their support of Trump and his party.

“People are stunned that this is happening,” she said. “When 60 people in a small town lose their jobs, that’s huge.”

Odds are strongly against Ellis or any Democrat unseating Smith — Republicans historically win the district with about 70 percent of the vote — but she believes disillusionment over the tariffs and other issues could move the needle.

“The Poplar Bluff area is bright red. The strongest Trump supporters are going to go down with the ship,” Ellis predicted. “Others may have buyer’s remorse.”

https://www.stltoday.com/news/local/govt-and-politics/in-southeast-missouri-s-trump-country-a-manufacturer-wrestles-with/article_4b231618-f068-541f-8d79-d0e95c39c419.html

 

 

 

[Frostynuts]

The USA had better play nice with China. IF China were to demand full payment for the debt owed to them, they would instantly bankrupt the USA. Think long and hard about that one.

[Zambroski]

2 minutes ago, Frostynuts said:

The USA had better play nice with China. IF China were to demand full payment for the debt owed to them, they would instantly bankrupt the USA. Think long and hard about that one.

No.  They just wouldn’t get it.  Period.  They can’t win this.  Any confusion thinking they can is purely delusional or, liberal.  Same.

[xtralettucetomatoe580]

7 minutes ago, Frostynuts said:

The USA had better play nice with China. IF China were to demand full payment for the debt owed to them, they would instantly bankrupt the USA. Think long and hard about that one.

Uh... Not at all how this works haha. 

[Edmo]

Smoke and mirrors...

https://www.detroitnews.com/story/business/autos/2018/06/30/navarro-gms-tariff-warning-smoke-mirrors/36533223/

Navarro shot back at GM on Saturday in an interview on CNN, saying the auto company was using “smoke and mirrors” to deceive the public. He said the impact of tariffs on the price of a GM car was equivalent to “a luxury floor mat.”

Edited July 1, 2018 by Edmo

[GGNHL]

14 hours ago, BOHICA said:

So we can ship soybeans to China by way of South Korea, India, Sri Lanka Bangladesh etc etc then.  Are those countries big Soy Bean producers?

India possibly but their production methods on all agricultural products is completely backasswards to ours. People will still buy our production even if the price is a cunt hair lower. I have Ag news clips in my email every day and the last one I saw was them tilling up other crops to put more soybeans in out in big Ag areas.

25 minutes ago, Frostynuts said:

The USA had better play nice with China. IF China were to demand full payment for the debt owed to them, they would instantly bankrupt the USA. Think long and hard about that one.

Dude, you obviously have no idea how government debt works.

Edited July 1, 2018 by GGNHL

[f7ben]

26 minutes ago, Frostynuts said:

The USA had better play nice with China. IF China were to demand full payment for the debt owed to them, they would instantly bankrupt the USA. Think long and hard about that one.

So the fed prints a trillion to pay China and Chinas trillion becomes 700 million overnight. Not a big deal to us 

[Mileage Psycho]

1 hour ago, Edmo said:

Smoke and mirrors...

https://www.detroitnews.com/story/business/autos/2018/06/30/navarro-gms-tariff-warning-smoke-mirrors/36533223/

Navarro shot back at GM on Saturday in an interview on CNN, saying the auto company was using “smoke and mirrors” to deceive the public. He said the impact of tariffs on the price of a GM car was equivalent to “a luxury floor mat.”

Of course Navarro shot back, what the hell did you expect a Trump adviser to say? 

[Edmo]

5 minutes ago, Mileage Psycho said:

Of course Navarro shot back, what the hell did you expect a Trump adviser to say? 

I suspect the truth lies somewhere in the middle Vince. Not good but not going to hurt them too bad. Worth it.  

[Zambroski]

2 minutes ago, Edmo said:

I suspect the truth lies somewhere in the middle Vince. Not good but not going to hurt them too bad. Worth it.  

GM (and many others) still thinks Obama is in charge.  If they can position themselves for a handout...well.....

[Sal Rosenberg]

3 hours ago, Mileage Psycho said:

Here is a perfect example of the winner/loser scenario in a trade war, and perhaps it will help you understand how some are picked as winners and some as losers, it is what it is.

 

 

 

 

The new Tariff on Chineesium my force us to abandon Artco and move over to Polaris , Vin .   

[Mileage Psycho]

3 hours ago, Sal Rosenberg said:

 

The new Tariff on Chineesium my force us to abandon Artco and move over to Polaris , Vin .   

Fuck Polaris Ronnie, look at the badass stuff our team builds

It's over for Polaris and Ski Doo feygs like @DAVE and @Nazipigdog

 

 

 

 

[Anler]

3 minutes ago, Mileage Psycho said:

Fuck Polaris Ronnie, look at the badass stuff our team builds

It's over for Polaris and Ski Doo feygs like @DAVE and @Nazipigdog

 

 

 

 

That's all you fags need to be on top again is some propellers on your 8 year old procross!

[Sal Rosenberg]

7 minutes ago, Nazipigdog said:

That's all you fags need to be on top again is some propellers on your 8 year old procross!

 

STFU and go move that asbestos !!!!!!!     

[Dave]

1 minute ago, Sal Rosenberg said:

 

STFU and go move that asbestos !!!!!!!     

Simmer down Ron...get off your ass and go buy some smokes!

[Jimmy Snacks]

4 minutes ago, Sal Rosenberg said:

 

STFU and go move that asbestos !!!!!!!     

 

[Anler]

4 minutes ago, Sal Rosenberg said:

 

STFU and go move that asbestos !!!!!!!     

You need some?

[Sal Rosenberg]

1 minute ago, DAVE said:

Simmer down Ron...get off your ass and go buy some smokes!

 

Too hot to even poke my head out the door , man . I took preemptive measures yesterday and stocked up