Good point...My recollection is they reduced their purchasing down to like 5% of soy imports. It's 75billion and China's population is big, so looks like just sticking it to whatever little they were still buying...including autos and whatever else is in that list
No capitulation by Trump on Sep tariffs?
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Good point...My recollection is they reduced their purchasing down to like 5% of soy imports. It's 75billion and China's population is big, so looks like just sticking it to whatever little they were still buying...including autos and whatever else is in that list
https://markets.businessinsider.com...vow-new-trump-tariffs-begin-2019-9-1028490667
China stocks soar on Beijing's vow to prop up its economy as Trump's tariffs kick in, hitting billions' worth of goods
- Beijing signaled measures intended to keep its economy afloat as a fresh round of tariffs on US and Chinese goods kicked in this week.
- Chinese and European equities jumped. US futures fell as American markets were closed for the Labor Day holiday.
- The Trump administration slapped tariffs of 15% on $112 billion worth of Chinese goods on Sunday, and China retaliated with the first of two batches of duties targeting $75 billion worth of US goods.
- "The outlook does not look positive for a deal any time soon," one analyst said.
- View Markets Insider's homepage for more stories.
The State Council's financial stability and development committee described risks to the economy as manageable and said the state wanted to keep "reasonably ample" liquidity as it faced the brunt of the trade war, according to Bloomberg. The committee was at a conference chaired by Vice Premier Liu He, Bloomberg said.
https://www.cnbc.com/2019/09/03/tru...a-trade-tariffs-after-latest-retaliation.html
Trump was so angry after China’s trade retaliation that he wanted to double tariffs
He settled on a 5% hike in tariff rates on about $550 billion in Chinese products, which he announced in an Aug. 23 tweet after the market close.
Trump was so angry after China’s trade retaliation that he wanted to double tariffs
- President Trump wanted to double tariff rates on Chinese goods last month after Beijing’s latest retaliation in the trade war before settling on a smaller increase, three sources tell CNBC.
- Trump was outraged after he learned Aug. 23 that China had formalized plans to slap duties on $75 billion in U.S. products in response to new tariffs from Washington on Sept. 1.
- Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer then enlisted multiple CEOs to call Trump and warn him about the impact such a move would have on the stock market and the economy.
He settled on a 5% hike in tariff rates on about $550 billion in Chinese products, which he announced in an Aug. 23 tweet after the market close.
As soon as the Oval Office figures out that the North American Consumer market is only a piece of the Sino juggernaut strategy the better off the global economy will be. The African continent can be turned on sooner than you think. I would love to see Y/Y sales reports. The infrastructure and telecommunication system can be put up to current standards in no time flat. The labor pool is ready and willing to take whatever they can get. Doubling down on tarriff reminds of what an amateur blackjack player would do at the global casino......
This is the guy who had his Homeland Security Secretary (acting) draw a fake Hurricane Dorian forecast track with a magic marker so he could hold a press conference to prove that he was right when he misspoke saying Alabama was going to be hit by the hurricane (https://thehill.com/homenews/admini...dorians-original-path-extended-toward-alabama). So yeah, pretty much makes shit up non-stop over things that don't even matter, so you can pretty much assume that everything positive he has to say about "winning" the trade war is made up as well.
S
SPX Blaster
There will be no resolution. China will simply wait till there is a new president in some 15 months. The stock market is in bear mode since Aug.1. Major stock sell off week of Sep. 15.
Unless Trump gives in. You are forgetting the wildcard, which is his brain.