Trump to impose tariff on steel and aluminium, geaux Trump!

The ridiculous lies that trump and his admin spin out there...

 

Wow... trump money going to farmers exceeded $22B in 2019.

 

Lefty fake media sources (fox business news and wsj) reporting on how trump's tariff flailings continue to hurt American farmers... and disbelief in trump's promises.

China pork tariffs ruined 'opportunity of a lifetime' for U.S. farmers

https://www.foxbusiness.com/markets/pork-producers-lost-sales-china-2019

 

Funny, wasn't one of the driving factors for tariff man's plan to save the steel industry?

Don’t Pick And Choose: Give Everyone An Exemption From Trump Tariffs

https://www.forbes.com/sites/artcar...an-exemption-from-trump-tariffs/#2e558bce451d

 

Trump Tariff has been a disaster and Trump continues to lie about it.

https://finance.yahoo.com/news/trump-tariffs-cost-consumers-163409804.html

President Trump made over 100 claims about China and tariffs in 2019, stating that Beijing was paying “tremendous amounts of tariffs.” However, new research from the National Bureau of Economic Research (NBER) found the opposite.

“U.S. tariffs continue to be almost entirely borne by U.S. firms and consumers,” the NBER working paper stated. “Similarly, we also find that the substantial redirection of trade in response to the 2018 tariffs has accelerated.”

On August 3, 2019, Trump claimed that “our consumer is paying nothing” in regard to the tariffs, but NBER stated that “approximately 100% of these import taxes have been passed on to U.S. importers and consumers.”


Trump has made several inaccurate claims about the tariffs on China: he’s said that the U.S. is taking in “billions” from China, that the money is being passed along to American farmers bearing the brunt of the retaliatory tariffs, and that the tariffs would boost blue-collar jobs in the U.S.

A recent study from the Federal Reserve indicated that the tariffs have actually led to a loss of jobs, especially in manufacturing.

 

White socialism= subsidies...not bailouts

 

Word on the street is that the Welfare Farmers are driving Cadillacs.

 

art of the concessions, er, deal...

 

Sell off soon?

 

Yes, that will show the Chinese. Officially removing a legitimate official complaint against them that has been in existence since before Trump will show them.

 

Why sell-off? What I've read so far of the deal looks decent.

 

But hey... trump and the china will sign phase 1.

Drag from Trump's trade wars continues to ripple through U.S. economy

https://www.reuters.com/article/us-...s-to-ripple-through-u-s-economy-idUSKBN1ZD2GU

 

"U.S.-China Deal Could Upend the Way Nations Settle Disputes":

https://www.wsj.com/articles/u-s-ch...-settle-disputes-11579211598?mod=hp_lead_pos2

U.S.-China Deal Could Upend the Way Nations Settle Disputes
New approach is a ‘finger in the eye’ to the World Trade Organization and its methods
By
Bob Davis
Jan. 16, 2020 4:53 pm ET

WASHINGTON—The phase-one deal between the U.S. and China could upend the way trade disputes are settled globally, giving the U.S. an edge over competitors and weakening international institutions.

Trade deals are traditionally enforced by arbitration, in which either a country or a company brings a complaint and a panel of experts renders a binding decision. That procedure is used by the World Trade Organization, which serves as a global trade court.

But the Trump administration has been fiercely critical of that format, believing the panels suck away U.S. sovereignty and don’t follow trade law. The administration has crippled the WTO dispute-resolution system by not approving new judges and has made parts of the arbitration system weaker in the U.S.-Canada-Mexico Agreement than in the North American Free Trade Agreement it replaced.

“The only arbitrator I trust is myself,” said U.S. Trade Representative Robert Lighthizer, President Trump’s lead trade negotiator, in a meeting with visiting business groups, according to those involved in the discussions.

Instead of deferring to arbitrators, disputes under the phase-one deal will be addressed through three rounds of negotiations between the two sides, ultimately giving the U.S. the right to impose tariffs if it isn’t satisfied with the outcome.

Beijing also has that right, but it made nearly all the concessions in the deal. That makes it more likely that the U.S. would be pressing China to carry out provisions to which it had only reluctantly agreed. If the U.S. acts, China can’t retaliate—or even appeal the dispute to the WTO—unless it pulls out of the deal.

The new system “is a gigantic finger in the eye of WTO,” said Mary Lovely, a China trade expert at Syracuse University. “The decider will be the trade representative in consultation with the president.”

All parts of the phase-one deal are subject to those enforcement provisions, including purchases, intellectual-property protection and Chinese pledges not to use foreign-currency policy to help its exporters. While it is impossible to prevent Beijing from retaliating if it feels the U.S. is acting in bad faith, it can only do so by scuttling the deal, according to the agreement.

Beijing has little incentive to reignite the trade war by pulling out of the deal. As a result, the U.S. believes Beijing is unlikely to retaliate. “I think they would see it in their interest to stay in the agreement,” said a senior U.S. official involved in the negotiations. “And this was designed to avoid them counter-retaliating or challenging us at the WTO.”

Micron Technology Inc., which has long complained about Chinese competitors trying to rip off its semiconductor technology, is considering using the new dispute-resolution system, industry officials say, to get Beijing to back off. But Micron is unusual. It is one of the few companies to take its complaints public and look for government assistance. In September, President Trump told the United Nations General Assembly “we are seeking justice” for Micron.

Other companies may be more hesitant out of fear of Chinese retaliation. To encourage them to come forward, the trade pact says the U.S. can present China with complaints based on confidential information. Josh Kallmer, executive vice president of the Information Technology Industry Council, a technology-company trade group, said that could be effective for a group of companies that have a similar complaint regarding, say, a regulation that broadly affects American firms.

Mr. Kallmer said while he prefers arbitration panels to solve disputes, the phase-one system sends a signal about U.S. seriousness about enforcement.

If the system works as the U.S. hopes, other nations are bound to press China to put something similar in place. That would remake the global trade system and create a number of separate, unilateral enforcement mechanisms, said Deborah Lehr, a China expert at the Paulson Institute in Chicago.

“The Europeans would push for the same thing,” Ms. Lehr said. “Otherwise, it would put [them] at a disadvantage.”

Indeed, the move to give countries the freedom to impose tariffs over disputes, without going to the WTO, could further wound the Geneva-based trade organization. While the U.S. doesn’t expect China to use the mechanism much, that could change.

One provision of the phase-one deal, for instance, gives China the right to request consultations if it believes the U.S. is blocking its ability to fulfill its purchasing promises by “an action or inaction.”

That broad language could apply to U.S. export rules that make it impossible for China to buy the high-technology products it wants, or to U.S. food-safety problems that make American crops unsafe to eat. China could use such a matter as the basis for bringing a complaint under the dispute-resolution panel, trade experts said.

If China moved ahead to impose tariffs or other sanctions after consultations, the U.S. would have to pull out of the pact before it could retaliate, even if it believed China was acting in bad faith. That would put pressure on Washington to stick with the deal.

The enforcement mechanisms will either reinforce other parts of the deal, said Scott Kennedy, a China expert at the Center for Strategic and International Studies, “or it will be the way in which the deal comes apart.”​

 

As if we haven't spent the last 2 years imposing tariffs?

Trump has definitely made moves to kill the WTO, and to raise doubts in the long-term viability of any agreement with the US.

 

Some compelling speaking in Davos:

 

Short term move. Trump successful weaponized nostalgia with his America First but this isn’t the 1950s anymore. Most of the growth is occurring outside of the US and will continue to do so.