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Capitalism: Begun the Trade War has
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  • Will devastate Turkey economically if they hit Kurds.

    D. Trump

    Coming years will be fun. It is just best to watch this fun from distant planet, or at least New Zealand :-)

  • Members of both the House of Representatives and the Senate have introduced bills that would order the President to impose export bans on Chinese telecoms found to violate US export and sanctions laws. Companies like Huawei and ZTE are a "growing threat to American national security," according to co-sponsor Rep. Mike Gallagher.

    Of course, as they are especially threat to large telecoms equipment manufacturers.

  • So, what happens around Iran? US is trying to cut China from one oil source.

    What happens in Venezuela? Same shit. Attempt to cut from energy source.

    You will soon see open statements that oil of Venezuela belongs to US, fully and completely.

  • Foxconn Freezes Plans for $10 Billion Wisconsin LCD Campus

    Foxconn has scrambled the picture on its plans to build a $10 billion LCD campus in Wisconsin. Reuters reports that the plans — announced amid great fanfare by Donald Trump in 2017 — have recently been scaled back and altered.

    While Foxconn originally said it would create a 20-million square foot operation for building the LCD screens, creating 3,000 jobs — with plans for another 10,000 at a later date — it now intends to mostly hire engineers and researchers rather than a manufacturing workforce. One Reuters source estimated that it would probably hire closer to 1,000 workers.

    “If Foxconn can’t be competitive making electronics in the U.S., nobody can… Now that Foxconn is acknowledging the truth about manufacturing in America, it might be time for the country to face that same reality.”

    http://fortune.com/2019/01/30/foxconn-freezes-plans-wisconsin/

  • Having dealt with Foxconn, that Wisconsin plan cannot be a serious one.

  • Next tweet storm by MAGA

    Looking for China to open their Markets not only to Financial Services, which they are now doing, but also to our Manufacturing, Farmers and other U.S. businesses and industries. Without this a deal would be unacceptable!

  • Feb 1, 2019

    Donald J. Trump @realDonaldTrump Great news on Foxconn in Wisconsin after my conversation with Terry Gou!

    @CNBC

    Foxconn says will move forward with construction of Wisconsin facility after talks with White House

    Some experts following the facility's development have doubts about whether Foxconn will ever follow through on completing the Wisconsin plant. Steven Deller, an economics professor at the University of Wisconsin, laughed when told of the latest announcement Friday afternoon, pointing to other promised Foxconn plants that were never built.

    "I think they're playing games," he said. "They've done the same thing to India, Brazil and Pennsylvania. They have a track record of making promises and not living up to them." Deller said from the beginning of the negotiations it made zero sense to build a flat screen plant in the United States.

    "These kinds of screens have become a commodity," he said. "The only way to be competitive is to drive costs down as much as possible. That means going to Asian markets for cheap labor. The R&D component, that makes sense. If you're looking at expanding your product line, it makes sense to do it in the US."

    https://www.cnn.com/2019/02/01/tech/foxconn-wisconsin-plant-trump/index.html

  • Derek Scissors, a resident scholar at the American Enterprise Institute, said before the talks began that a short-term deal on China’s substantial purchase of US goods was likely, but played down the possibility of substantial progress China could make structural reforms.

    “I do not believe that the real problems in the US-China relationship can be solved because the Chinese development model under Xi Jinping is directly contradictory to what the US wants,” he said.

    As the talks began, the tension between the parties was palpable, said body language expert Rebecca Klein, reviewing video footage showing Lighthizer breaking the silence with a joke about how one end of the table would get far more TV exposure than the other.

    “Their body language is one of overcompensation with forced smiles and posturing,” said Klein of Baltimore-based TALLsmall Productions, referring to Lighthizer and another US negotiator, Peter Navarro. She added that they presented the body language of “nervous freshmen in an upper-level classroom.”

    https://www.scmp.com/news/china/diplomacy/article/2184388/us-china-trade-war-talks-begin-vp-liu-he-sitting-opposite-us?fbclid=IwAR31DlU_LPH2MfKmTDnlmDxOURY6OVfK_E6D_ZyRw8DYWevi-R33lHmjIis

  • It Looks Like Trump Has New Trade War Foes: India and Turkey

    In the latest maneuver in his war on trade deficits, President Donald Trump announced Monday his intentions to end preferential treatment for India and Turkey that allows billions of dollars’ worth of exports to enter the U.S. duty-free.

    The biggest beneficiary of the so-called Generalized System of Preferences, India exported $5.6 billion of products to the U.S. duty-free in 2017 thanks to the program, and Turkey was No. 5 on the list, importing $1.7 billion of products duty-free.

    Trump has frequently taken India to task for its tariffs on U.S. imports. “I am taking this step because, after intensive engagement between the United States and the government of India, I have determined that India has not assured the United States that it will provide equitable and reasonable access to the markets of India,” Trump told congressional leaders in a letter.

    http://fortune.com/2019/03/05/trump-trade-war-india-turkey/

  • Japan is set to review its academic guidelines to prevent leaks of advanced U.S. technologies when universities conduct research with China as well as other countries.

    A growing number of Japanese schools are partnering with universities and companies in the U.S., China and elsewhere. Washington intends to impose tight restrictions on the disclosure of advanced technology originating in the U.S. to third countries, and Japan's trade ministry has determined that additional measures will be needed to ensure compliance.

    The Ministry of Economy, Trade and Industry will set specific guidelines for Japanese universities that do research with multiple countries or accept students from abroad. As the U.S. plans to restrict exports of advanced technologies in 14 areas -- including artificial intelligence, biotech, positioning technology, microprocessors, robotics, data analysis, quantum computing, transportation and 3D printers -- to China and other countries, METI may include these fields in the new guidelines.

  • Following the revelation that the The National Enquirer had obtained intimate texts and images between Amazon CEO Jeff Bezos and Lauren Sanches, Bezos ordered an investigation into who was behind the data breach. In a post on The Daily Beast, Bezos’ security consultant Gavin De Becker says that his team of investigators have “concluded with high confidence that the Saudis had access to Bezos’ phone,”

    I like present elite sceneries. First make something that attracts mass public, and as follow-up after good pause just add small little lie you need them to have in their brain, without judgment.

  • A joint venture between U.S. smartphone chipmaker Qualcomm Inc and China’s Guizhou province will shut down by the end of the month, The Information reported on Friday, citing employees at the venture.

    It seems like real trade war is very near.

    As Amazon is going out of China, last week we also saw sudden changes on 5G market where Apple and Qualcomm suddenly made total piece and almost same day Intel ceased development of 5G modems and will stop current production. Most probably we have around 2-4 weeks left before total 20-25% fees.

  • Well, I was mostly right with time

    For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!

  • Stung by Trump’s Trade Wars, Wisconsin’s Milk Farmers Face Extinction

    Over the past two years, nearly 1,200 of the state’s dairy farms have stopped milking cows and so far this year, another 212 have disappeared, with many shifting production to beef or vegetables. The total number of herds in Wisconsin is now below 8,000 — about half as many as 15 years ago. In 2018, 49 Wisconsin farms filed for bankruptcy — the highest of any state in the country, according to the American Farm Bureau Federation.

    But Mr. Trump’s trade approach has pushed many of Wisconsin’s already struggling dairy farmers to the edge. Milk prices have fallen nearly 40 percent over the past five years, the byproduct of economic and technological forces that have made milk easier to produce and state policies that ramped up production and sent prices tumbling.

    That has coincided with Mr. Trump’s sweeping tariffs on foreign steel and aluminum, which were intended to help American manufacturers but have set off retaliatory tariffs from Mexico, Canada, Europe and China on American dairy products. Most painful for Wisconsin’s dairy farmers has been a 25 percent tariff that Mexico placed on American cheese, which is made with a significant volume of the state’s milk production.

    https://www.nytimes.com/2019/04/26/us/politics/trump-trade-war-wisconsin-dairy.html

  • @jleo

    Milk prices have fallen nearly 40 percent over the past five years, the byproduct of economic and technological forces that have made milk easier to produce and state policies that ramped up production and sent prices tumbling.

    In EU and China it is reverse trend as far as I know. And retaliatory tariffs had been imposed by local capitalists to have nicer margins (as more and more each year is being made by large corporations).

  • The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.

    The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.

    In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

    Did not work out, it seems. Idealism is no match for materialism :-)

  • The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to “negotiate” with Joe Biden or one of the very weak Democrats, and thereby continue to ripoff the United States (($500 Billion a year)) for years to come....

    Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal. We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers...great for U.S., not good for China!

    May be I will state obvious thing, but providing your real goods in exchange for number in database made 2 seconds ago is not usually called "ripoff".

  • Oracle will shut down its research and development (R&D) arm in China, resulting in the layoffs of more than 900 people.

    Serious stuff coming, so all vulnerable things are pulling out.

  • And things are going on fast

    Earlier today, at the direction of the President, the United States increased the level of tariffs from 10 percent to 25 percent on approximately $200 billion worth of Chinese imports. The President also ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.

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  • The tariffs - levies paid by consumers and companies, not China -- could cost an average family of four $767 a year, one study from a group called the Trade Partnership estimated in February. The group also forecast the tariffs would cut U.S. employment by 934,000 people and subtract roughly 0.4 percentage points from U.S. GDP.

    Real MAGA.

  • For China tariffs are now absolutely required also

    Due to

    Such way they can put blame onto usual suspect.. :-)

  • Chinese response - new rates will take effect at the beginning of next month:

    • 2,493 items to be subjected to 25% tariffs.
    • 1,078 items to be subject to 20% of tariffs
    • 974 items subject to 10% of tariffs
    • 595 items continue to be levied at 5% tariffs
  • What will be the long term consequences of the China–United States trade war? by Lance Chambers

    China will continue to grow in wealth and power even if America closes its markets to China completely. They have more trade outside of the US than with the US these days with the US accounting for just under 20% of exports. Although this would sting it wouldn’t destroy China.

    In fact it would hurt America far more as America would either have to start building factories at home and making products locally at far higher prices than now or import for other countries who’s prices would be higher than the prices China offers which would simply make the trade deficit worse for the US.

    I know people will suggest that building factories in the US would actually be great for America and Americans but that’s not true and here is why:

       
    • Few American companies would open factories in the US because they know that they can find products that are supplied by China today in other countries for far less than they can be made in the US because of higher wages in the US which would reduce profits.
    • They can sidestep the high wages in the US by still building factories but by 100% automating them which means no new jobs in the US.
    • When a more pragmatic government takes over, as it will in the US at some time, all that money spent to build those factories will have been pointless, because the American companies that control over 4500 manufacturing facilities in China will still have those factories in China making goods for every other country in the world and they will be ready to start flooding the market with their products made in China again as they did before the pointless trade issues and tariffs started.

    There is a reason that for hundreds of years countries have traded with each other and it’s based on Comparative Advantage . A simple case study: We can make really good shoes cheaply but we’re terrible at making clothes. Another nation is really great at making clothes but are awful shoe makers. But, if we trade we can both benefit. The obvious thing for me to do is trade my good quality cheap shoes to the other guy and for him to trade his great clothes to get those shoes. Now both of us end up with good clothes AND good shoes. THIS IS WHY TRADE STARTED IN THE VERY BEGINNING. We both benefit.

    So today we have Trump levying tariffs which artificially increase the cost of products in the US. This means that there is now no incentive for your trading partners to buy/trade with you because of the increase in prices. What it may do is reduce imports into the country that levies the tariffs because prices have risen. The reason for doing this is to encourage new businesses to open in the US. But as I showed before this won’t happen because trump will not be there forever and things will go back they way they were once trump has gone.

    Business people are not stupid - they know what will happen once Trump has gone. So they are waiting for a change in government in the US which will send most things back to where they were. Once that happens China may, just may, start buying soya beans from the US again and saving American farmers. But, maybe not…

    I’m not sure that Trump still believes that, ‘Trade wars are easy to win!’