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Will Trump's tariffs lead to a global trade war?

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While I can't recall if the steel and aluminium industries were specifically mentioned by Trump during his campaigning (you could be right), my remark that the tariffs were a knee jerk reaction concerned the timing of the introduction of the tariffs. More specifically, it seemed to co-coincide with media reports of Trump's declining popularity with his support base. However, my assessment was purely anecdotal and I didn't check with any official approval/disapproval statistics.

Interestingly, now that Canada, Mexico and Australia have been exempted from the tariffs, Japan and the EU are also presenting their cases for exemption: https://www.reuters.com/article/us-...r-exemptions-from-trump-tariffs-idUSKCN1GM0PZ

How much is Trump willing to bend on this issue I wonder?
 

Can you explain how it make sense for America?

If it's about creating jobs, steelworks jobs, a Reuters report... and I'm assuming they're not biased but could be wrong... report showed that there's only some 140K workers in US steel mills. That compare to some 6.5M workers employed by those to import and use the imported steel.

So if the costs to currently imported steel goes up, those who now manufacture using those steel will either have to increase their sales price by at least the equivalent rise, or let their workers go, or move all manufacturing offshore to save on the new tariffs.

Then there's the exemptions. Mexico, Canada, Australia and anyone else who know a guy who know a guy who lend the Trump and Krushner money can get it...

That's like locking the doors but opening a few windows.
 

He's going to bend over after the mid-term election they're having in the US.

Apparently he's doing this to help some Republican douche who talk God, family value, love and anti-abortion but got caught telling his pregnant on-the-sides to get an abortion.

That and it might help his friend Carl Icahn shorting a few stocks in the right industry just before the tweet.

The corruption and lies are so blatant it's incredible.
 
He is simply supporting local business. At the moment there is a large transfer of

I agree whole heartedly...cheers
 
China hits back with tariffs on US imports worth $3bn

http://www.bbc.com/news/world-asia-43614400

Well, this was inevitable. China isn't a country that will just sit back when its interests are being threatened. It will strike back as it has done here. Will Trump now raise the ante?
 
BlownAccount said:
How does one edit ones post?
Click to expand...
After posting, you have limited time - 10 minutes, from memory - to make corrections.
For the duration, you will see the "Edit" option underneath your post. Once that tag disappears, you can no longer edit.

 
I reckon you’re big down move already happened mate.....
 
CanOz said:
View attachment 86811

You do realise th futures trade 24/5?
Click to expand...
Yeah, but I don't trade futures. I really only pay attention to pre-market action when there appears there's going to be a big move in either direction.

Nice recovery after the initial fall. The volatility in 2018 makes for some good intraday rollercoaster rides.
 
luutzu said:
report showed that there's only some 140K workers in US steel mills
Click to expand...

Which is probably why Trump wants tariffs imposed. There were surely many more employed in the industry before China manipulated their exchange rate to such an extent that many US steel mills close down.

There is also the US Iron ore mining industry to consider, which lost its local customer base with the importation of steel from China.

I am with Trump on this one.
 
China bought US debt, 100s of billions of it...then the US accuses them of currency manipulation. Japan does the same. One can absolutely argue that quantitative easing was manipulating the greenback for a decade....don’t get me started on currency wars....
 

American industrialists were the ones shipping those, and many other, jobs and industries offshore.

China was/is one of the biggest destination because of its cheap labour force and zero environmental regulation. Not to mention no pesky Unions demanding safe working environment and all that.

So it's a bit much to blame the Chinese for "cheating" and manipulating this and that.

If exchange rate is the reason for mills closure, you'd think the thing to do is manipulate US exchange rate back. Yes, it can be done, even in "floating" currency.

Anyway, I read somewhere that China didn't export that much steel to the US to be affected by these tariffs. That and their planned One Road, One Belt master plan will definitely eat up all the steel they can manufacturer for a couple of decades.
 
It will end when Money becomes the dominant factor.

If its going to Cost one side more than the other
OR
Increase the capital for one side more than the other

Will be the determining factor.
Its just another day in the Business of NEGOTIATION

Each have their vested interests
 

Battle for domainace. Both countries want to be number one in the world, and neither will back down. NK is sucking up to them both in a pathetic display. Russia is the wild card, capable of upsetting everything.
 
China slaps 179% charge on US sorghum imports

http://money.cnn.com/2018/04/17/news/economy/china-us-sorghum-antidumping/index.html

It's not over yet. China ups the ante again. I don't think this is a war Trump can win. By targeting agricultural products the Chinese realise that they will have an economic impact on Trump's rural support base. Clever tactic.

Trump hasn't tweeted in almost 24 hours. Is something wrong?
 
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