Mainecat Posted January 18, 2021 Share Posted January 18, 2021 China won the Trade War As if the past few days haven’t been bad enough, here’s a final kiss-off to Trump: China won the trade war. The disastrous conclusion to Donald Trump’s failed presidency was only tarnished further yesterday with the news that The People’s Republic of China outdid the United States on the very front that the Trump administration based so much of its reputation: global trade. China’s trade surplus last month was $78 billion, which took its overall surplus for 2020 to a record $535 billion, up 27% over the year before. In the head-to-head match-up with the United States, Beijing clobbered us in raw numbers. As I and a jillion other economists have fruitlessly noted in recent years, trade surplus/deficit numbers are poor barometers of economic well being, but going by those numbers, so dear to Donald Trump, the outgoing prez and his gullible followers have reason to be chagrined. The U.S. trade deficit with China last year was $317 billion, a 7% increase over 2019 and the second highest on record. This comes in the aftermath of Trump’s famously uninformed utterance on twitter (sorry, it’s no longer findable due to the suspension of the president’s account, but I’m pretty sure most of us remember it) that “trade wars are good and easy to win.” The tariffs he subsequently imposed on nearly $400 billion worth of Chinese exports to the United States accomplished squat in terms of re-balancing our trade accounts with China and only ended up costing American importers and consumers money because Americans had to pay the tariffs - a reality that Trump never seemed to get. Read more: https://www.sdstandardnow.com/home/as-if-the-past-few-days-havent-been-bad-enough-heres-a-final-curtsy-to-the-trump-administration-china-won-the-trade-war Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted January 18, 2021 Platinum Contributing Member Share Posted January 18, 2021 Will this get better under Biden or will we just hear about it less after Wednesday? 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted January 18, 2021 Platinum Contributing Member Share Posted January 18, 2021 (edited) Like a broken record. You and spin really need to get your hands out of each others pants long enough to discuss the shit each of you post and re-post. Most of this is due to the strong dollar and China devaluing its currency and little to do with trade deals/policy. China is taking record amounts of American agriculture products. Great for the farmers in my area and one of many trade goals Trump went after China for. https://www.agriculture.com/news/business/near-record-us-ag-exports-seen-with-china-back-as-top-customer Edited January 18, 2021 by Highmark Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 18, 2021 Share Posted January 18, 2021 1 hour ago, Mainecat said: China won the Trade War As if the past few days haven’t been bad enough, here’s a final kiss-off to Trump: China won the trade war. The disastrous conclusion to Donald Trump’s failed presidency was only tarnished further yesterday with the news that The People’s Republic of China outdid the United States on the very front that the Trump administration based so much of its reputation: global trade. China’s trade surplus last month was $78 billion, which took its overall surplus for 2020 to a record $535 billion, up 27% over the year before. In the head-to-head match-up with the United States, Beijing clobbered us in raw numbers. As I and a jillion other economists have fruitlessly noted in recent years, trade surplus/deficit numbers are poor barometers of economic well being, but going by those numbers, so dear to Donald Trump, the outgoing prez and his gullible followers have reason to be chagrined. The U.S. trade deficit with China last year was $317 billion, a 7% increase over 2019 and the second highest on record. This comes in the aftermath of Trump’s famously uninformed utterance on twitter (sorry, it’s no longer findable due to the suspension of the president’s account, but I’m pretty sure most of us remember it) that “trade wars are good and easy to win.” The tariffs he subsequently imposed on nearly $400 billion worth of Chinese exports to the United States accomplished squat in terms of re-balancing our trade accounts with China and only ended up costing American importers and consumers money because Americans had to pay the tariffs - a reality that Trump never seemed to get. Read more: https://www.sdstandardnow.com/home/as-if-the-past-few-days-havent-been-bad-enough-heres-a-final-curtsy-to-the-trump-administration-china-won-the-trade-war All they had to do is a few sweet deals with Ivanka and Trump gave them what they wanted. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted January 18, 2021 Share Posted January 18, 2021 11 minutes ago, Highmark said: Like a broken record. You and spin really need to get your hands out of each others pants long enough to discuss the shit each of you post and re-post. Most of this is due to the strong dollar and China devaluing its currency and little to do with trade deals/policy. China is taking record amounts of American agriculture products. Great for the farmers in my area and one of many trade goals Trump went after China for. https://www.agriculture.com/news/business/near-record-us-ag-exports-seen-with-china-back-as-top-customer The economy is going so well that trump lost by a landslide. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 18, 2021 Author Share Posted January 18, 2021 (edited) Trump imposes tariffs on goods from China. WE ALL PAY MORE. China does the same but finds other countries to buy soybeans, wheat, rice etc. Meanwhile US farmers see their business in the shitter. No where to sell their products so they rot in the field. Many go bankrupt. Trump rides to the rescue of the farmers giving them billions......from where you say? From the taxpayers. WE ALL PAY MORE. FUCKIN TRUMP FAIL #6,000 Edited January 18, 2021 by Mainecat Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted January 18, 2021 Platinum Contributing Member Share Posted January 18, 2021 Only two days left...LOL ....Let it all out now 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted January 18, 2021 Share Posted January 18, 2021 (edited) 5 minutes ago, Mainecat said: Trump imposes tariffs on goods from China. WE ALL PAY MORE. China does the same but finds other countries to buy soybeans, wheat, rice etc. Meanwhile US farmers see their business in the shitter. No where to sell their products so they rot in the field. Many go bankrupt. Trump rides to the rescue of the farmers giving them billions......from where you say? From the taxpayers. WE ALL PAY MORE. FUCKIN TRUMP FAIL #6,000 The economy was the best it ever has been under trump. Look at how hard these forum libs are trying. Economy == bad, Stock market bad, NK peace == Bad. Tax cuts == bad. NO WARS == bad. They are trying so hard, but the facts speak for themselves. Edited January 18, 2021 by racer254 Quote Link to comment Share on other sites More sharing options...
BadaBing444 Posted January 18, 2021 Share Posted January 18, 2021 59 minutes ago, Skidooski said: Will this get better under Biden or will we just hear about it less after Wednesday? It will be a distant memory on Thursday. Quote Link to comment Share on other sites More sharing options...
Dave Posted January 18, 2021 Share Posted January 18, 2021 48 minutes ago, revkevsdi said: All they had to do is a few sweet deals with Ivanka and Trump gave them what they wanted. Do you sell your styrofoam to China? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 18, 2021 Platinum Contributing Member Share Posted January 18, 2021 22 minutes ago, Mainecat said: Trump imposes tariffs on goods from China. WE ALL PAY MORE. China does the same but finds other countries to buy soybeans, wheat, rice etc. Meanwhile US farmers see their business in the shitter. No where to sell their products so they rot in the field. Many go bankrupt. Trump rides to the rescue of the farmers giving them billions......from where you say? From the taxpayers. WE ALL PAY MORE. FUCKIN TRUMP FAIL #6,000 You dont pay more if you dont buy the fucking garbage. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted January 18, 2021 Platinum Contributing Member Share Posted January 18, 2021 28 minutes ago, Mainecat said: Trump imposes tariffs on goods from China. WE ALL PAY MORE. China does the same but finds other countries to buy soybeans, wheat, rice etc. Meanwhile US farmers see their business in the shitter. No where to sell their products so they rot in the field. Many go bankrupt. Trump rides to the rescue of the farmers giving them billions......from where you say? From the taxpayers. WE ALL PAY MORE. FUCKIN TRUMP FAIL #6,000 Jesus dude you couldn't be more wrong. The 2020 corn crop will sell for an average $4.85 a bushel and soybeans for $11.15 a bushel, compared with the average for $3.56 for corn and $8.57 for soybeans grown in 2019, said the USDA. https://www.agriculture.com/news/business/highest-corn-and-soybean-prices-since-commodity-boom-says-usda#:~:text=The 2020 corn crop will,in 2019%2C said the USDA. https://www.agriculture.com/news/business/near-record-us-ag-exports-seen-with-china-back-as-top-customer 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted January 18, 2021 Share Posted January 18, 2021 18 minutes ago, Highmark said: Jesus dude you couldn't be more wrong. Fun with rhetoricals! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 18, 2021 Author Share Posted January 18, 2021 The Trump apologists here are the worst. Quote Link to comment Share on other sites More sharing options...
SayatodaU.P.eh? Posted January 18, 2021 Share Posted January 18, 2021 (edited) 2 hours ago, Skidooski said: Will this get better under Biden or will we just hear about it less after Wednesday? I’ll take Wednesday for $100, Alec. However, with all of the attempts of the left to silence the right, they are trying their best to make sure that the right doesn’t have the ability to call them out, after Wednesday. Edited January 18, 2021 by SayatodaU.P.eh? Quote Link to comment Share on other sites More sharing options...
SayatodaU.P.eh? Posted January 18, 2021 Share Posted January 18, 2021 6 minutes ago, Mainecat said: The Trump apologists here are the worst. The hate of America lives within you and your democratic friends, hands down. Not my President! Death to conservatives! STFU before you have a fuckin stroke. Quote Link to comment Share on other sites More sharing options...
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