The trade deficit, which was made a big deal by president Donald Trump and ignited a trade war with China, has worsened. The United States has so far lost big in the core driver of the trade war (the trade deficit) that was a top complaint of Trump’s and the U.S. may have already lost this trade war.
Exports of goods from the U.S. were slashed 26.3% and imports rose 38.5% worsening the trade deficit – which the tariffs were supposed to correct. The Trump Administration’s trade warfare with China began in earnest last March following steel and aluminum tariffs that primarily hit other countries. The U.S. and Chinese tariffs on each other’s goods then escalated repeatedly through September 18 with threats of much more the same by March 1 of this year.
There are no winners when an economic war such this is declared, and so far, the U.S. appears to be on the losing side. Americans are already living paycheck to paycheck with the increased cost of goods forcing the use of credit cards to make ends meet or they will see a massive decrease their standard of living.
According to the Cato Institute, Reuters, using Chinese data, estimated the U.S. trade deficit with China rose 17% last year. In fact, a report by the Daily Mail claims that China’s trade surplus to the U.S. is at an all-time record-breaking high of $323 billion. In light of the tariffs, Beijing has encouraged Chinese businesses to buy more goods made in their country while avoiding goods from the U.S. And it’s appearing to pay off. America has all but lost this economically disastrous trade war.
Unfortunately, the trade is likely still far from over. “The record US trade deficit with China will sit uncomfortably with the Trump administration,” Nick Marro of the Economist Intelligence Unit said in a report. “That may cast a shadow over the next round of trade talks.”
Trump and his Chinese counterpart, Xi Jinping, agreed on December 1, 2018, to postpone additional tariff hikes by 90 days while they negotiated more terms of this war. But penalties of up to 25 percent already imposed on billions of dollars of each other’s goods remain in place, raising the cost for American and Chinese buyers of soybeans, medical equipment, and other goods.
December’s trade contraction is “likely to continue into 2019 due to falling foreign demand, including demand for Chinese-made electronic products,” Iris Pang of ING said in a report.
Detroit vs. Hiroshima memes —
http://media.carbonated.tv/120727_story__pic1728585.jpg
One might believe that Japan won WW2, because of sedition.
“Exports of goods from the U.S. were slashed 26.3% and imports rose 38.5% worsening the trade deficit – which the tariffs were supposed to correct. ”
FALSE. The TRUMP TARIFFS are on pause. They are not in effect. The increase in imports reflect TWO THINGS: one, they evidence the growing problem of trade disparity between China & the US which would have been even greater without the TARIFFS; and two, they reflect the surge in inventory purchased by large importers like WALMART to beat the increased costs to them and maintain their massive profit margins at the expense of the American worker, family & taxpayer.
“There are no winners when an economic war such this is declared, and so far, the U.S. appears to be on the losing side.”
LMFAO !!! 🙂 FALSE. COMPLETE GLOBALIST PROPAGANDA.
China is tanking. TANKING !!! The PAUSE is to their advantage, but in the end China will capitulate to TRUMP or face the brunt of the TARIFFS. Yes there will be casualties in this trade war, but it will be American companies like WALMART who outsourced their production to China or others who dismantled their American factories and shipped them to China. Fuck them. They deserve it !!!
The biggest losers will be Chinese Exporters and employees. Cheap goods can be SOURCED from other countries as I have noted here many times. If you think representatives from retail giants like WALMART are not in Brazil right now looking for factories who can replace the Chinese you are dumber than a box of rocks. It’s basic economic principles in action as I have mentioned here many times.
The loss of the American Consumer will usher in CHAOS in China whose economy is built upon a bigger pile of debt & corruption many times than that of the USA. With the Chinese Economy is shattered & in tatters it will be hard pressed to challenge the USA in the Western Pacific or use the wealth transferred to it by the globalists to gain world hegemony; a primary Chinese goal.
FUCK CHINA. GREAT JOB POTUS !!! 🙂
BTW, the vast majority of Americans have been “living paycheck to paycheck” for as long as I have been alive and can remember. Americans are used to working for a living and eager to do it for a fair wage and/or salary.
The problem is that CRONY CAPITAL GLOBALISM has operated as the primary economic reality in America for the past 30 years shrinking American paychecks and purchasing power. That is about to Change.
“America has all but lost this economically disastrous trade war.”
Completely FALSE. America has already won the TRADE WAR by changing the status quo and demanding a level playing field that had been tilted in China’s favor for 30 years. The only question that remains is:
“How big will the win be?” FUCK CHINA !!! 🙂
Michael Snyder reveals the truth that it is the beginning of the end of the Chinese economy in an article posted here, just days ago:
https://www.shtfplan.com/headline-news/these-new-numbers-are-telling-us-that-the-global-economic-slowdown-is-far-more-advanced-than-we-thought_01152019
🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂
Smoot-Hawley.
What would your solution be?
I ask because no one ever seems willing to offer a workable solution to it.
Got that right. Spot on !!! 🙂
Seems in any fight your gonna get hit? Or at least sweat a little? Keep the faith? And keep shootin.
If it is “the feel good factor” you are after, well, you may feel as good as you like. But the real world doesn’t work like that.
It does have internal mechanisms that determine the outcome of any action. If a system is being hollowed out from within, then there is no point attacking outsiders for stopping the rot.
US is being robbed clean by those running “conflict machine”, big pharma, insurance racket, lobbying industry, speculation fraud in “money creation” game.
No use getting high on Adrenalin for another “made-up” conflict.
It won’t solve any problem.
but it will keep masses occupied and prevent them from watching the creeps moving the dolls by pulling their strings.
Thank goodness for Trump. My hero.
The stupidity displayed is monumental. The only losers in this ‘war’ will be the American consumer.
By making goods more expensive, the US consumer will have to pay more for less. The shareholders are not going to suffer.
If America wants to export more and import less, go back to the way it was when US goods were quality and relatively cheap. Now they are too expensive.
Why would a German buy an American car?
Why would a Taiwanese buy an American TV?
Why would a Chinese buy American clothing?
US manufactures expensive rubbish and complains that no one wants to do business.
The only one who ‘buys’ US goods is Israel, because the American taxpayer is the person paying.
The greatest thing US had going for it was agriculture, you screwed that with GMO, and Russia, Brazil produce more, better, at less cost.
Beef, poultry, pork are so full of antibiotics and steroids that no other country would touch them even when they are soaked in chlorine.
Trump has made it worse, he has lost billions in exports without any hope of local replacement.