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  • #31
    so can someone help me here ... as a Canadian I'm not sure if I should be worried, or comforted by the lack of understanding here ...

    WASHINGTON—U.S. President Donald Trump lobbed some new trade criticism at Canada on Wednesday. And then he said he did not understand what he had just said.

    Speaking at a rally in Fargo, North Dakota on Wednesday might, Trump took a break from his usual improvisation to read out a note card he said he had been given. It was a complaint about Canada’s wheat practices.

    Immediately after reading the note, the president declared that he had no idea what he was talking about.

    “John and Kevin gave me something, they told me this,” he said, likely referring to North Dakota Sen. John Hoeven and Rep. Kevin Cramer. Beginning to read, he said, “Canadian wheat markets consistently discriminate against the United States’s wheat by grading it as feed.”

    He then pointed quizzically at the audience.

    “Do you know what that means? They know what it means,” he said, pointing behind him. “I don’t know what the hell it means. I just know it’s a bad deal. What the hell does that mean?”

    He threw the note card up in the air dismissively, letting it fall to the ground. Then he cast a long look behind him, an irritated expression on his face.
    It certainly feels that way. But I'm distrustful of that feeling and am curious about evidence.

    Comment


    • #32
      Originally posted by TranaGreg View Post
      so can someone help me here ... as a Canadian I'm not sure if I should be worried, or comforted by the lack of understanding here ...
      Embrace the brief intervals of honesty.

      Comment


      • #33
        Scoring at home? Marketwatch has a handy Trade War Tracker to keep abreast of everything that will go up in this burgeoning disaster:

        Comment


        • #34
          Originally posted by revo View Post
          Scoring at home? Marketwatch has a handy Trade War Tracker to keep abreast of everything that will go up in this burgeoning disaster:

          https://www.marketwatch.com/story/tr...ned-2018-06-22
          The context of these tariffs is the trade deficit the U.S. runs, which totaled $568 billion in 2017. The Trump administration maintains that the size of that gap is due to unfair trade agreements. Critics point out that U.S. consumers are the beneficiaries of this gap.
          Anyone know what these unfair trade agreements are?

          Why do critics say we benefit from this gap?
          "The Times found no pattern of sexual misconduct by Mr. Biden, beyond the hugs, kisses and touching that women previously said made them uncomfortable." -NY Times

          "For a woman to come forward in the glaring lights of focus, nationally, you’ve got to start off with the presumption that at least the essence of what she’s talking about is real, whether or not she forgets facts" - Joe Biden

          Comment


          • #35
            Originally posted by cardboardbox View Post
            Anyone know what these unfair trade agreements are?

            Why do critics say we benefit from this gap?
            the theory goes that countries that have a trade deficit - i.e. import more than they export - have a more competitive marketplace, which drives down costs that consumers have to pay at the cash register (or online checkout screen, or whatever ... )
            It certainly feels that way. But I'm distrustful of that feeling and am curious about evidence.

            Comment


            • #36
              Originally posted by cardboardbox View Post
              Anyone know what these unfair trade agreements are?

              Why do critics say we benefit from this gap?
              Here's a good article on your first question:
              As is the case on so many issues, President Trump has sounded schizophrenic on trade. While he took a hardline protectionist stance during the presidential campaign and for much of his first year in office, he and several of officials of his administration have signaled in recent months that they were rethinking their hostility toward multilateral approaches to trade problems. But Trump’s recent declaration that he plans to impose steep tariffs on the imports of steel and aluminum coupled with yesterday’s announcement by Gary Cohn, the president’s chief economic adviser and a free trader, that he’s quitting, suggest that Trump’s protectionist side is dominating once again. This is a reason for concern because tariffs and protectionism in general won’t do anything to address a major underlying cause of distortions in global trade: the subsides of China and other countries for their state-owned enterprises (SOEs). Those subsidies stimulate excess production, depress market prices, and enable SOE-produced products to capture market share beyond accepted norms of competition. Given that only 2% of U.S. steel imports come from China and U.S. aluminum imports account for only 1.4% of China’s aluminum production, the tariffs will neither reduce China’s global exports of these metals nor constrain its SOEs.

              Comment


              • #37
                Originally posted by revo View Post
                Here's a good article on your first question:
                https://hbr.org/2018/03/tariffs-are-...rade-practices
                good read but unfortunately it only touches on China which I already had a decent idea about. I'd love to know more about the unfair trade agreements with Canada and the rest of our allies.

                And a side note... Cohn shouldnt have quit. He probably felt like no one was listening to him but if he had just kept trying, maybe Trump would have softened his stance. I dont know if anyone is left to give Trump the other point of view. Maybe Fox News can say mean things about tariffs?
                "The Times found no pattern of sexual misconduct by Mr. Biden, beyond the hugs, kisses and touching that women previously said made them uncomfortable." -NY Times

                "For a woman to come forward in the glaring lights of focus, nationally, you’ve got to start off with the presumption that at least the essence of what she’s talking about is real, whether or not she forgets facts" - Joe Biden

                Comment


                • #38
                  Worldwide retaliation for US tariffs begin TODAY, putting a 'bull's eye' on wide range of goods

                  U.S. farmers and food producers are in the cross-hairs of a global trade conflict that shows no signs of abating anytime soon — and things are about to escalate in a big way on Sunday.

                  New tariffs will be imposed by Canada on beef, and more retaliation will come this week when China and Mexico take aim at pork. China’s also planning a 25 percent tariff on soybeans on July 6 in addition to hikes on pork duties, and Mexico’s 20 percent levy on "the other white meat" is set to begin July 5.

                  Meanwhile, the European Union’s initial duties worth $3.2 billion took effect June 22. Most of the duties amount to 25 percent, and include a variety of U.S. products, including motorcycles, boats, whiskey and peanut butter. All three U.S. allies announced new tariffs in response to the Trump administration's decision to impose levies on imported steel and aluminum products for "national security" reasons.

                  Separately, China is preparing to unleash a wave of new tariffs of 25 percent on 545 U.S. products valued at $34 billion, including soybeans and some dairy products. The duties become effective July 6, with U.S. autos also a target of Chinese import duties.

                  Farmers and food producers are in the crosshairs of a global trade conflict that shows no signs of ending anytime soon, and things are about to escalate in a big way with new tariffs on soybeans, dairy and pork.


                  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

                  Louisville-based Brown-Forman said the price of Jack Daniel's will increase in Europe due to retaliatory tariffs put on whiskey from President Trump's trade wars.

                  Consumers can expect to pay 10 percent more on a bottle of 700-milliliter American whiskey, Phil Lynch, a spokesman for Brown-Forman, told the Courier Journal.

                  Brown-Forman said the increase will take effect over the next several months and be implemented at different times in various owned-distribution markets.

                  "In order to protect brand profit and continue to invest behind the growth of American Whiskey in the EU, Brown-Forman will implement price increases on its American Whiskey brands exported to the EU in its owned-distribution markets to offset the tariffs placed on the whiskey by the EU," Lynch said in a statement.

                  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~

                  Recent Calendar (from Bloomberg):

                  DATE TRADE FALLOUT
                  June 19 Tyson Foods says it faces ‘day-to-day uncertainty’ in delivering products and services
                  June 20 Daimler cuts profit forecast on U.S.-China trade fight
                  June 25 Harley-Davidson to move production overseas, sees EU tariff costs $100 million annually
                  June 26 Brown-Forman raises Jack Daniel’s prices in light of the EU tariffs
                  June 28 Volvo Cars owner Li Shufu says cars will cost more as trade wars escalate
                  June 28 Osram says trade tensions have weakened sales of automotive lighting parts
                  June 29 General Motors says it could be forced to cut U.S. jobs if tariffs are applied to imported vehicles and auto parts. BMW and Hyundai also tell the Commerce Department their expansion plans for U.S. could be jeopardized

                  Comment


                  • #39
                    I read somewhere today that DT is upset with the huge tariffs that Canada levies on dairy from the US. However, when he pulled the US from the TPP, he removed the US from the non-tariff agreement the participating countries enjoy with one another. So, since he was dead set against the TPP, he effectively screwed the dairy farmers by eliminating the 0% tariff. We're heading back to isolationism.

                    Comment


                    • #40
                      Originally posted by MagSeven View Post
                      I read somewhere today that DT is upset with the huge tariffs that Canada levies on dairy from the US. However, when he pulled the US from the TPP, he removed the US from the non-tariff agreement the participating countries enjoy with one another. So, since he was dead set against the TPP, he effectively screwed the dairy farmers by eliminating the 0% tariff. We're heading back to isolationism.
                      Yep. Canada has a quota on dairy imports, then after that quota is hit the tariff jumps to 270%. Both the GOP and Dems, especially in NYS and Wisconsin, are upset with the Canadian dairy tariffs, but still, there were better ways to go regarding that.

                      Comment


                      • #41
                        Originally posted by revo View Post
                        Worldwide retaliation for US tariffs begin TODAY, putting a 'bull's eye' on wide range of goods
                        edited post is better than the original.
                        "The Times found no pattern of sexual misconduct by Mr. Biden, beyond the hugs, kisses and touching that women previously said made them uncomfortable." -NY Times

                        "For a woman to come forward in the glaring lights of focus, nationally, you’ve got to start off with the presumption that at least the essence of what she’s talking about is real, whether or not she forgets facts" - Joe Biden

                        Comment


                        • #42
                          Originally posted by cardboardbox View Post
                          edited post is better than the original.
                          Yeah, there was too much going on with this today. Next tariffs are Friday!

                          Comment


                          • #43
                            The Trade War escalates dramatically at midnight, barring any last minute reprieves, as both the US and Chinese tariffs go into effect. This is like watching an execution!

                            Comment


                            • #44
                              Mexico’s 2nd round of retaliatory tariffs implemented.

                              Both Chinese & US tariffs are officially in effect. Trade War go boom!

                              Comment


                              • #45
                                Originally posted by revo View Post
                                Mexico’s 2nd round of retaliatory tariffs implemented.

                                Both Chinese & US tariffs are officially in effect. Trade War go boom!
                                Really gonna hurt the farm belt badly...I can't imagine how Cheeto can spin what are almost sure to be disastrous results in his favor.
                                "Never interrupt your enemy when he is making a mistake."
                                - Napoleon Bonaparte (1769-1821)

                                "Your shitty future continues to offend me."
                                -Warren Ellis

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