But Trump won’t run any election in the midterm. Republicans are generally against his trade war or negotiation. It’s for sure a scary negotiation if not aml bad war
Tomorrow, I suggest you guys having a heart condition to get drunk and sleep it off all day long.
China’s commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning.
The U.S. goods, which had an import value of $3 billion in 2017, include wine, fresh fruit, dried fruit and nuts, steel pipes, modified ethanol, and ginseng, the ministry said. Those products could see a 15 percent duty, while a 25 percent tariff could be imposed on U.S. pork and recycled aluminum goods, according to the statement.
The statement did not go into greater detail. U.S. agricultural products, particularly soybeans, have been flagged as the biggest area of potential retaliation by Chinese President Xi Jinping administration.
Beijing will take measures against the 128 U.S. goods in two stages if it cannot reach an agreement with Washington, the ministry said, adding that it could take legal action under World Trade Organization rules.
Asian stock markets took a dive on the news, with Japan’s Nikkei index sliding as much as 3 percent in early Friday trade.
I have followed your lead and unloaded tons of calls and shares.
Now holding 1 LEAPS call per counter except IRBT for sentimental reason
78% cash, now thinking whether I should unload IRBT shares … hesitating… to do or not to do…
Your suspicion that it may crash on Monday is high probability.
With current way it goes, market will settle somewhat lower permanently. The issue will not be based on trade tariffs, but by interest rate hike. Every hike will results lower market.
I really don’t get the case for continuing to increase interest rates either. Inflation is <2%. I’m worried this will become a case study similar to the great depression where the fed was too aggressive increasing rates.
Smoot-Hawley also left the United States out of preferential trade arrangements. At a conference in Ottawa in 1932, Britain established its system of “imperial preferences,” granting lower tariffs to former colonies like Canada. Before Smoot-Hawley, about one-quarter of U.S. exports had gone to Britain and Canada.
A similar pattern seems to be emerging today. The E.U. recently signed deals with Canada and Japan. Eleven Pacific Rim countries are also on track to implement a modified version of the Trans-Pacific Partnership that Trump rejected.
As a result, the Maine lobster industry is worried about losing access to Europe, as Canadian competitors now face zero tariffs. Out West, U.S. cattle ranchers face tougher conditions in the Japanese market because Australian beef receives a lower tariff.
TPP was designed to be a US-led trade bloc that specifically excluded China. How ironic it’s now becoming trade bloc that excludes the US.
US turning away from the world leaves a big opening to Xi’s China. One belt one road is deadly serious. Already china is elbowing America out of Africa.
TPP had a lot of flaws though. The US has been accepting inferior trade deals for decades. I think this will take some time to play out but will result in fairer trade with China. No one can honestly say trade with China was fair and equal.