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- 21 April 2014
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This sounds pretty serious. I sympathise with Trump's desire to reduce the US trade deficit, and I think that a "whatever their tarriffs , ours will be the same" is a fair policy.
It's had an immediate effect on the stock market though, whether they will settle down or will move towards a recession is a worry for us all.
I don't think it's out of concern for trade deficit/surpluses. I mean, if they care about such thing they wouldn't have given that $1.5Trillion tax cuts and those hundreds of billions in military spending, or that wall.
It's just their way of confronting China. I was told that the TPP was designed to do that but Trump pulled out for some reason, leaving the smaller pacific countries to deal with China.
Read that there's now a Yuan-based oil/gas exchange. The petro-dollar might no longer be what it used to, not as far as Asia/pacific is concern. Heard that Saddam and Qaddafi was taken out because they were tyrants, jk, because they want to move their oil off of the US dollar.
China's new exchange make that kind of trade a whole lot easier... might mean that all the sanctions against rouge states (who tend to have a lot of oil and don't want to give it away) can just be shrugged off.