Trump Plays Dangerous Game Of Chicken With Trade Tariffs
- Thread starter Tom B
- Start date
Chinese stocks being hammered strongly today. Shorted a couple of them. Some crazy amateur traders just jumping in with both feet and eyes closed. They are in for a rude surprise tomorrow! Got huge haircuts today. US tariffs will destroy Chinese companies if Xi Jinping does not strike a deal soon! His choice. The US can wait!
Next US company that might reduce jobs in the US.
https://www.bloomberg.com/news/arti...iffs-could-lead-the-carmaker-to-shrink-in-u-s
https://www.bloomberg.com/news/arti...iffs-could-lead-the-carmaker-to-shrink-in-u-s
Actually chinese stocks listed in HK (H shares ) jumped today. I own shares of 14 companies there, 10 are up over 3 % on the day, including one 8% and another 11%.Yesterday was a good time to buy (no idea about next monday though and those stocks have been hammered nastily over the last few weeks. That 11% rise is far from getting the stock back to last month high)
A bit too much volatility to enjoy relaxed summer holidays, if anyone care to forward the message to Trump.
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Chinese stocks in Hongkong are traded mostly, by Chinese. Of course, you have the positive bias. Today, Chinese stocks were being hammered in the end in the US. I ended up shorting a couple seeing the weakness and panic selling. You ignore price action at your peril. If a stock you expect to go up instead, sells off heavily, you know you are wrong! Maybe, message Xi Jingpin, ball is in his court! Does he really want a trade war? Sign a fair trade deal and end it!
You have certainly, the right to your opinion as I have to mine. I only responded because you responded to my post.
https://www.cnet.com/roadshow/news/donald-trump-tariffs-will-cost-jobs-slow-automation/
some extracts:
Today, Reuters reports the threat received a stiff rebuke from two groups that, combined, represent nearly every major global automotive brand. The groups claim that the proposed tariffs would not only see a significant hike in price of the average new car, but would also cost hundreds of thousands of jobs and even slow the development of advanced safety technology.
The two groups are the Association of Global Automakers, which represents major brands like Toyota, Subaru, Nissan, Honda, Hyundai and Kia, plus many more, and the Alliance of Automobile Manufacturers, which covers Ford, General Motors, Fiat Chrysler, BMW, Mercedes-Benz USA and others. Together, this means nearly every major international marque, both large and small, is warning the Trump administration about the impact of the proposed tariffs -- a topic Elon Musk has questioned the president about as well.Today, Reuters reports the threat received a stiff rebuke from two groups that, combined, represent nearly every major global automotive brand. The groups claim that the proposed tariffs would not only see a significant hike in price of the average new car, but would also cost hundreds of thousands of jobs and even slow the development of advanced safety technology.
Estimates for job losses range between 195,000 and 624,000, depending on whether other nations retaliate.
An additional threat is added cost to cars. The average amount of money spent on a new car in the US is approximately $34,000 and, according to the Alliance of Automobile Manufacturers, consumers would see a typical price hike of $5,800 on a new car. That will certainly reduce sales and drive consumers to buy lower-cost, lower-margin cars, reducing profits.
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Let's see if Americans are willing to pay $5,800 extra on a new car to make "America great again!". Those who will lose their job certainly will not.
some extracts:
Today, Reuters reports the threat received a stiff rebuke from two groups that, combined, represent nearly every major global automotive brand. The groups claim that the proposed tariffs would not only see a significant hike in price of the average new car, but would also cost hundreds of thousands of jobs and even slow the development of advanced safety technology.
The two groups are the Association of Global Automakers, which represents major brands like Toyota, Subaru, Nissan, Honda, Hyundai and Kia, plus many more, and the Alliance of Automobile Manufacturers, which covers Ford, General Motors, Fiat Chrysler, BMW, Mercedes-Benz USA and others. Together, this means nearly every major international marque, both large and small, is warning the Trump administration about the impact of the proposed tariffs -- a topic Elon Musk has questioned the president about as well.Today, Reuters reports the threat received a stiff rebuke from two groups that, combined, represent nearly every major global automotive brand. The groups claim that the proposed tariffs would not only see a significant hike in price of the average new car, but would also cost hundreds of thousands of jobs and even slow the development of advanced safety technology.
Estimates for job losses range between 195,000 and 624,000, depending on whether other nations retaliate.
An additional threat is added cost to cars. The average amount of money spent on a new car in the US is approximately $34,000 and, according to the Alliance of Automobile Manufacturers, consumers would see a typical price hike of $5,800 on a new car. That will certainly reduce sales and drive consumers to buy lower-cost, lower-margin cars, reducing profits.
------------------------------------------------------
Let's see if Americans are willing to pay $5,800 extra on a new car to make "America great again!". Those who will lose their job certainly will not.