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Sunday, April 01, 2018

Oh no! 1% of our economy is in danger

According to the insipid press, President Trump has ignited a trade war with China that will bring down both economies. The press is better at presidential election predictions than it is economics.

"China is imposing tariffs on more than 125 US imports including fruit and pork, heightening fears of a trade war between the two countries," the Mirror reported.

Oh no!

The tariffs will affect less than 1% of the economy.

Our exports to China were $169.8 billion last year.

Our economy is roughly $19 trillion.

We bought $478.8 billion in goods from China last year.

China makes a billion dollars a day of the USA.

Who would hurt worse if we stopped all trade with China? The fact is we have had a trade war with China all along, and the communists have kicked our butts all along.

Now President Trump fights back.

And the press hates it.

"Beyond the threat of a far-reaching trade war, economists have warned US consumers are likely to bear the cost of the tariffs and worries about Chinese retaliation are mounting," CNN reported.

Wow. The press cares more about lost bargains than it does lost manufacturing jobs.

Be American, buy American. China is not a free market country. It is a predatory nation that takes advantage of politicians who know little about business.

We elected Trump because he knows business.

17 comments:

  1. I don't remember seeing ads for sales of Chinese pork chops at my local store. Maybe I missed it.

    As for me, I can live without a paper umbrella in my cocktail.

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    Replies
    1. I believe china bought Smithfield, so, every time you eat Smithfield products, you are eating something processed in china. Think about the safety implications of that poopsie.

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    2. Actually, I think that you will find that Chinese tariffs are on imports TO China.

      So, THEY will be paying more for US pork products.

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    3. Smithfield hams and bacon are grown and processed in the USA. China owning them does not change that, any more than when the Japanese bought Rockefeller Plaza it made much difference in how it operated. Some Chinese corporation buying and American pork producer is about shipping port to China.

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  2. The Chinese already had tarrifs in place on many US made goods. We are just leveling the playing field a little. As stated, the media knows not what it writes about it, just that they need to criticize any action PDJT takes.

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  3. Asians like making money.

    Saving face is also up there on their list.

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  4. The goal is simple. Associate the words War and Trump. Cause some panic here and there, help the short sellers. It's all agit prop.
    If Trump wasn't hated and feared by his own party seniors a slew of liable laws threatening to garrot the press would have already been passed, clogging the courts with fervid appeals to the value of truth. The press would be forced to defend it's lying hated self every day and be rapidly loseing ground while its Democrat slaves would be hanging from election crosses along every Appian Way they travelled to it's defense.
    Interest in the perverted click characters they have recreated like Furher Adolph the Youngest or Savonarola Muler, Torcher of Trump, would wane as they tried to look respectable in public for awhile.
    But no, no way.

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  5. "Who would hurt worse if we stopped all trade with China? The fact is we have had a trade war with China all along, and the communists have kicked our butts all along.
    Now President Trump fights back.
    And the press hates it."

    The NeverTrump GOPe and the Fredocons over at NRO and Weekly Standard hate it just as much.

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  6. Can we start using Red China again?

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  7. If what the US sold to China is 1% of the $19 trillion US economy then the amount bought from the Chinese is less than 4% of that same economy. Big deal.

    This is all jingoistic noise trading on popular ignorance of basic economics.

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  8. I'm in the entertainment business. I've been trying to bring a classical/pop (non controversial) established group into China for years. Not a chance.

    I do not miss the imported Chinese drywall or poisonous baby formula. I can also do without the poorly manufactured computer chips in knock off products that - if they work at all - die prematurely.

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  9. We elected Trump because he knows business?

    Much like the Captain of the Titanic knows shipping. Don't confuse reality tv with reality.

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  10. He’s a billionaire , whatever-your-name-is

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  11. Most of the frozen fish I buy has printed on the package "caught in America, processed in China" and then sold in America. Really?

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  12. China's economy is incredibly dependent on exports, and most of all dependent on exports to the US.

    For the US - we'd really prefer to make those products ourselves, or import from some other country (and turn it from a backwards, poor, craphole into something resembling South Korea - imagine if we could do that in Central America).

    Trump's tariffs are not a bluff. They are leverage.

    He wants China to engage in FAIR trade with the US. That means opening their markets to our products, and it means terminating its predatory behavior supporting its exports (intellectual property theft, currency manipulations, govt subsidized products being dumped overseas to bankrupt competition to acquire market share, etc, etc, etc).

    China will negotiate, and Trump will get *some* of what he really wants.

    On the off chance that they don't, he'll simply keep cranking up the tariffs. Hurts them FAR more than it hurts us.

    This isn't complicated. You don't have to buy into Trump being some kind of genius playing 4th dimensional chess. Its bare-bones basic negotiation tactics. Which Trump mastered through an entire lifetime of hands on experience.

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