US Tariffs on Chinese goods go into effect today...Russia and China respond with more Tariffs

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Binman4OSU

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#1
The US tariffs on $34 billion of Chinese goods went into effect today.

China responded by immediately imposing 25% tariff on 545 US products including cars, soy beans and lobsters worth $34 Billion

Russia also responded and is placing additional tariffs on road building equipment, oil and gas industry products and mining equipment

Yesterday Trump told the media he would launch $16 billion in new tariff's against China in 2 weeks and then potentially another $500 billion in tariffs later (which would equal the total value of all Chinese imports in 2017)

BMW said it could not absorb all of the 25% tariff on cars it exports from China to its plant in Spartenburg, SC and will raise their prices.
 

Binman4OSU

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#2
Here are a breakdown of the goods the Tariff's imposed today will have an impact on.

US Goods to China
Poultry
— Frozen beef
— Fresh or cold pork
— Dried, smoked or salted pork belly
— Frozen chicken nuggets
— Frozen whole duck

Fruit and vegetables
— Farming potatoes
— Mushrooms
— Truffles
— Apples
— Cherries
— Avocados

Dairy products
— Butter
— Cream
— Yogurt

Fish
— Frozen red salmon
— Frozen mackerel
— Frozen yellowfin tuna

Seafood
— Frozen squid
— Lobster
— Canned shark fin
— Octopus
— Sea urchins

Tobacco
— Tobacco cigarettes
— Tobacco cigars
— Unstemmed tobacco

Pet food
— Canned cat food
— Canned dog food

Beverages
— Whiskey
— Modified ethanol
— Non-frozen orange juice with less than 20% sugar

Vehicles
— Some passenger cars
— Some small passenger cars
— Some off-road vehicles

Chinese Goods to US
Vehicles
— Some motor vehicles with diesel engines
— Some motor vehicles with electric motors
— Some motorcycles, including mopeds
— Helicopters
— Some airplanes and other powered aircraft
— Airplane parts
— Ferry boats and cruise ships

Spacecraft and technology
— Spacecraft launch vehicles
— Communication satellites

Industrial machinery
— Nuclear reactors
— Chassis fitted with engines for some vehicles
— Hydraulic turbines
— Machines for sorting fruit or other agricultural produce
— Metal-rolling mills
— Molds for glass, rubber or plastics
— Railway track fixtures
— Electric welding apparatus

Medical devices
— Pacemakers
— X-ray generators
— UV apparatus
— Anesthetic instruments
— Optical instruments

Other
— Parts of equipment for checking semiconductor devices
— Some microscopes and telescopes
— Seismographs
 

Bowers2

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#3
Yay artificially inflated prices with nothing to show for it but the world's retreat from the dollar and American influence.
 

MindAflame

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Yay artificially inflated prices with nothing to show for it but the world's retreat from the dollar and American influence.
These tariffs are ill-advised, but we've spent the last decade hand-sitting our way into a rapidly-eroding economic and military position relative to China.
 

Bowers2

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These tariffs are ill-advised, but we've spent the last decade hand-sitting our way into a rapidly-eroding economic and military position relative to China.
I agree. Weird then that we’ve started trade wars with allies as well. Pushing them into tighter economic alliances with China and each other.
 

Binman4OSU

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#6
These tariffs are ill-advised, but we've spent the last decade hand-sitting our way into a rapidly-eroding economic and military position relative to China.
What? China's economy is very broken. They are $14 Trillion in debt. Just this year Chinese officials warned that their entire financial sector was a debt bubble that could burst at any time
1530905027812.png


China's debt to GDP ration in 2006 was 170%...in 2016 it was 282% of GDP...today it is over 300%
1530905112813.png

1530905247209.png

1530905308173.png
 

Duke Silver

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#7

Binman4OSU

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#8
Plus their economic numbers are basically made up.
They only thing China has going for it is cheap, slave like labor in abundance due to their population and willingness to exploit intellectual property and that labor on the black market. That is why Trump should press China and ONLY China on the tariffs. But these tariffs have sparked a trade war that is pushing more opportunity to China to fill the void...and the US can not compete with their labor force and prices.
 

steross

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#9
What? China's economy is very broken. They are $14 Trillion in debt. Just this year Chinese officials warned that their entire financial sector was a debt bubble that could burst at any time
View attachment 62380

China's debt to GDP ration in 2006 was 170%...in 2016 it was 282% of GDP...today it is over 300%
View attachment 62381
View attachment 62382
View attachment 62383
Very broken?

GDP GROWTH RATE down to 6%. Oh, poor China, only growing at 6%. Thier personal and corporate borrowing are high at the moment. Government debt still very low. Not even close to broken.
 
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MindAflame

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#10

steross

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#11
These tariffs are ill-advised, but we've spent the last decade hand-sitting our way into a rapidly-eroding economic and military position relative to China.
I think tariffs are a bad idea also. But, given what you said about our eroding position, what do you think is the way to improve it?