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Wall Street Should Be Prepared For MORE Tariffs On Chinese Goods

Mac Slavo
July 31st, 2019
SHTFplan.com
Comments (5)

As Wall Street celebrates what will likely be an interest rate cut later this week, it should also sober up fir more bad economic news. The chances of increased tariffs on Chinese goods are incredibly high and some say the only way to save the economy from the trade war is to lower rates.

Analysts say that if the trade war continues, the destruction of the economy will also continue necessitating the interest rate cuts, which the Federal Reserve has stated will only go down a quarter of a point. CNBC’s Jim Cramer pointed out on Tuesday that investors should be prepared for the United States to slap another round of tariffs on Chinese imports.

A tweet from President Donald Trump bashing the country earlier that day on Twitter confused Wall Street, the “Mad Money” host said, causing the Dow Jones Industrial Average to fall more than 23 points and both the S&P 500 and Nasdaq Composite to tumble about 0.25%.

Unfortunately, Americans are suffering the financial consequences of the trade war too, and if it’s “un-American”‘ to point that out, so be it. The costs have fallen squarely on the backs on American businesses and lower-income families who just can’t afford a tax increase and to feed their families.  Farmers in the U.S. are also struggling to sell their goods and turn a profit.  They have been casualties of the trade war.

“If the trade war with China escalates again, we’re going to need these rate cuts,” Cramer said. “Taunting does not a trade policy make. But it sure does sound like we’re about to get another round of tariffs.”

The U.S. has been engaged in a trade war with China since last year and both countries have imposed duties on billions of dollars worth of goods. Trade officials are in China this week to attempt to make progress on a trade deal, but Cramer says that a series of Trump tweets — which included messages like ”[the Chinese] always change the deal in the end to their benefit” and “we have all the cards” — could derail those efforts and lead to new tariffs on the remaining $320 billion worth of Chinese exports, according to the report by CNBC.

“Believe me … I am very sympathetic to the president’s arguments on China: I’m in favor. He’s not wrong,” Cramer said. “But just because something is true, that doesn’t mean you should tweet it to the entire world. I found the timing terrible.”  Businesses will fail to make profits, cut jobs, and perhaps even default on loans if the taxes keep going up.  Taxation is a drain on the economy and tariffs are not different in that aspect.

Cramer says that the interest rate cut by the Fed is what will save the economy from the burden of increased taxation.

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Author: Mac Slavo
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Date: July 31st, 2019
Website: www.SHTFplan.com

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5 Comments...

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  1. durangokidd says:

    The idea that TARIFFS are falling most heavily on American businesses and family farmers is complete and utter BULLSHIT as I have pointed out to this community many times.

    Multinationals and Large Corporate Farmers reaped the maximum benefit from Globalization at the expense of the American Middle Class: its families, workers, and small businesses.

    The Peoples Republic of Kalifornia and the burgeoning numbers of homeless all across America is the direct result of Globalization.

    Those who profited most from Globalization SHOULD bear the brunt of the re-industrialization of America. Here’s what Zero Hedge has to say about the crocodile tears being shed for the Uber Rich:

    http://news.trust.org/item/20190730175400-li5as

    🙂

  2. Genius says:

    Damm, now a baofeng radio will cost 35 bux? My 1.00 adapters will be 1.25? I still got a new carb for the polaris for 38 bux…

  3. just me says:

    Some told me long before Obama got in that China would try to take us over. Then Obama came and China bought our debt. Just before 2016 election. the same man said he saw that the US would no longer serve China. China has stolen our intellectual property to the tune of billions. It is a small price to pay to stop the theft of out soverity.

  4. Marma says:

    Cramer usually has the correct information for all of us. Maybe the government should tune in to his broadcast.

  5. Anonymous says:

    I don’t mind paying more for goods made in the U.S.A.. Better Quality and employs U.S. workers.

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