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Trump Warns Xi: Trade War With China Begins Monday
LoP Guest
lop guest
User ID: 348173
08-12-2017 11:58 PM

 



Post: #1
shocked1 Trump Warns Xi: Trade War With China Begins Monday
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Trump Warns Xi: Trade War With China Begins Monday

As if there weren't enough geopolitical stress points in the world to fill a lifetime of "sleepy, vacationy" Augusts, late on Friday night President Trump spoke to Chinese President Xi Jinping and told him that he's preparing to order an investigation into Chinese trade practices next week, according to NBC. Politico confirms that Trump is ready to launch a new trade crackdown on China next week, citing an administration official, a step that Trump delayed two weeks ago under the guidance of his new Chief of Staff Gen. Kelly, but now appears imminent. It is also an escalation which most analysts agree will launch a trade war between Washington and Beijing.

http://www.nbcmontana.com/news/trump-to-.../603744666

http://www.politico.com/story/2017/08/11...day-241558

As Politico details, Trump on Monday will call for an investigation into China over allegations that the nation violated U.S. intellectual property rights and forced technology transfers, the official said. While it's unclear how much detail Trump will get into in the announcement, administration officials expect U.S. Trade Representative Robert Lighthizer to open an investigation against China under Section 301 of the Trade Act of 1974. The ordering of the investigation will not immediately impose sanctions but could lead to steep tariffs on Chinese goods. Trump has expressed frustration in recent months over what he sees as China's unfair trade policies.

As we discussed two weeks ago, Trump had planned to launch the trade investigation more than a week ago, but he delayed the move in favor of securing China's support for expanded U.N. sanctions against North Korea, the senior administration official said.

The pending announcement also comes amid heightened tension between the United States and China, even after the Trump administration scored a victory in persuading Beijing to sign onto new United Nations sanctions on North Korea. Still, Trump has delayed trade action before, amid pressure from business groups and major trading partners:

http://www.zerohedge.com/news/2017-08-03...etaliation

Quote:Two Commerce Department reports examining whether to restrict steel and aluminum imports on national security grounds were expected by the end of June but have been bottled up in an internal review. Trading partners raised threats of retaliation and domestic steel users complained of being hurt by price increases and restricted supply.

The trade investigation will immediately strain relations between the U.S. and China as the two countries wrestle with the unpredictable situation over North Korea. Should Trump follow through, the move will lay the groundwork for Trump to impose tariffs against Chinese imports, which will mark a significant escalation in his efforts to reshape the trade relationship between the world's two largest economies. In other words, even if there is now conventional war announced with either North Korea or Venezuela, Trump's next step is to launch a trade war against China.

"The United States government can, and does, work with countries to address serious concerns such as North Korea while also pursuing measures to address economic concerns, such as the theft of U.S. intellectual property," a U.S. National Security Council official said.

It wasn't immediately clear how China would react to the move.

Quote:When reports of the potential trade investigation first emerged more than a week ago, China's Commerce Ministry stressed the importance of U.S.-China trade ties and of resolving differences "through dialogue and consultation."

"We would like to emphasize that the Chinese government has always attached importance to intellectual property protection," a spokesman said. "The results are there for all to see."

Trump, who has been residing at his golf club in Bedminster, New Jersey, for the past week, plans to return to Washington on Monday to officially announce the trade investigation. The decision will not only take action against alleged Chinese violations of U.S. companies' intellectual property rights, but could also be perceived as an attempt by the U.S. government to crank up the pressure on Beijing to rein in North Korea. "I think China can do a lot more," Trump told reporters on Thursday. "And I think China will do a lot more."

As CNN adds, the trade investigation is expected to be only one part of a multi-pronged push by the Trump administration to counter perceived Chinese trade abuses. The administration has been eyeing other moves to rebalance the U.S.-China trading relationship. But analysts have cautioned that Trump faces a huge challenge in his desire to significantly reduce the U.S. trade deficit with China, which last year stood at more than $300 billion. "Protection measures against some specific items, such as steel and aluminum, may gain political favors, but are not likely to be of much help to rebalance trade," economists at the Institute of International Finance wrote in a research note this week.

Meanwhile, as we reported previously, China state media signaled the nation would hit back immediately against any trade measures, as it has done in past episodes. This time around, the need to project strength domestically is compounded by the looming twice-a-decade leadership reshuffle that may further entrench President Xi Jinping’s power.

Quote: Chinese officials have mulled stemming U.S. imports should retaliation be necessary. Under a draft plan, soybeans have been singled out as the top product that can be dialed back, according to people familiar with the matter. Autos, aircraft and rare-earth commodities have also been identified as potential categories for restriction, the people said.

Still, Trump's offensive comes at a very sensitive time for Beijing: just weeks ahead of the 19th Party Congress, when Xi Jinping wants everything in his economy to be perfect. "Ahead of the 19th Party Congress, the last thing that China will want is a trade war," said Callum Henderson, a managing director for Asia-Pacific at Eurasia Group in Singapore. "It is also important that Beijing does not look weak in this context. As such, expect a cautious, proportional response."

Of course, ultimately the big question - as Bloomberg puts it - is whether the Trump administration is willing to risk a trade war as it ups the ante. The IMF warned last month that “inward-looking” policies could derail a global recovery that has so far been resilient to raising tensions over trade. The problem, for both the US and China, is that as Trump gets increasingly more focused on distracting from his numerous domestic scandals, he is likely to take ever more drastic action in the foreign arena, whether that means "hot war" with North Korea, or trade war with China.

“So far, it’s all been posturing, with little action,”’ said Scott Kennedy, a U.S.-China expert at the Center for Strategic and International Studies in Washington. “Pressure is building to do something, so the U.S. doesn’t look like a complete paper tiger.”

And while we await the formal announcement on Monday and China's retaliation, below again is a breakdown of the biggest US state winners and losers if and when trade war with China breaks out, from "Winners And Losers When Trade War Breaks Out Between The US And China"

More below

http://www.zerohedge.com/news/2017-08-12...ins-monday
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LoP Guest
lop guest
User ID: 401589
08-13-2017 12:02 AM

 



Post: #2
RE: Trump Warns Xi: Trade War With China Begins Monday
God Bless the USA.

If only we had done this 20 years ago. Millenials would be working in factories and paying their own way through life instead of living in their parent's basements and collecting welfare.
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Damrod
Seeker of knowledge
User ID: 423718
08-13-2017 12:09 AM

Posts: 13,072



Post: #3
RE: Trump Warns Xi: Trade War With China Begins Monday
Why should China care?

They have all of our trade secrets now and make most of our cheap junk that the stupid sheep gobble down

There will be no trade war because the corporations moved manufacturing out of here for cheap, slave wage labor in Asia.

It would take years to mount a trade war....all the factories would have to have the moth balls taken out and updated.

In the mean time, all that cheap sh*t would be gone and demand for shiny garbage would skyrocket...driving prices through the roof.

"I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." Thomas Jefferson

"Liberty means responsibility, which is why most men dread it." George Bernard Shaw

"Republics decline into democracies and democracies degenerate into despotism"...Aristotle
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LoP Guest
lop guest
User ID: 397629
08-13-2017 12:10 AM

 



Post: #4
RE: Trump Warns Xi: Trade War With China Begins Monday
LoP Guest  Wrote: (08-13-2017 12:02 AM)
God Bless the USA.

If only we had done this 20 years ago. Millenials would be working in factories and paying their own way through life instead of living in their parent's basements and collecting welfare.

You can think LBJ & Nixon who made it all possible by detaching the dollar from any gold backing.
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LoP Guest
lop guest
User ID: 397629
08-13-2017 12:10 AM

 



Post: #5
RE: Trump Warns Xi: Trade War With China Begins Monday
*thank
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LoP Guest
lop guest
User ID: 397629
08-13-2017 12:12 AM

 



Post: #6
RE: Trump Warns Xi: Trade War With China Begins Monday
US corporations will return manufacturing to the US but most of it will be automated/robotics.

You can really think liberal policies for making US labor so expensive compared to the rest of the world, that with unbacked credit emission by our central bank.
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New
Servant
User ID: 397082
08-13-2017 12:12 AM

Posts: 13,696



Post: #7
RE: Trump Warns Xi: Trade War With China Begins Monday
This is about the stupidist thing I've read so far
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LoP Guest
lop guest
User ID: 397629
08-13-2017 12:23 AM

 



Post: #8
RE: Trump Warns Xi: Trade War With China Begins Monday
new()  Wrote: (08-13-2017 12:12 AM)
This is about the stupidist thing I've read so far

Well the globalists are the only ones that profited from the wage arbitrage. Those corporations that manufacture abroad in cheap labor markets.

But they also leverage everything up with debt, in this case they created a lack of production capability in the US who relied on Chinese manufacturing, and they invested a ton of capital in Chinese infrastructure that won't get used once robotics begins replacing any human labor left.

What are their hundreds of millions of workers going to do when Apple and Nike and HP bring their manufacturing back to the states with robotics?

All that debt, something like $30 trillion. It's going to blow sky high eventually, then everyone will realize what a freaking mess the globalists made of the world's economy.
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LoP Guest
lop guest
User ID: 334357
08-13-2017 12:29 AM

 



Post: #9
RE: Trump Warns Xi: Trade War With China Begins Monday
They are getting desperate to deflate the markets.

They can't print up 6 trillion dollars without creating hyper-inflation
so they need to trigger a sell-off.

They don't have the money to cover expenditures, so it's coming
down to either DEFLATE by fear and panic or hyper inflate to pay
bills.

Another nice mess the STATISTS have gotten us into.
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LoP Guest
lop guest
User ID: 327604
08-13-2017 12:31 AM

 



Post: #10
RE: Trump Warns Xi: Trade War With China Begins Monday
LoP Guest  Wrote: (08-13-2017 12:02 AM)
God Bless the USA.

If only we had done this 20 years ago. Millenials would be working in factories and paying their own way through life instead of living in their parent's basements and collecting welfare.

SOOOOOooooooo TRUE.

JhikpghfBumpJhikpghfBump
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LoP Guest
lop guest
User ID: 397629
08-13-2017 12:36 AM

 



Post: #11
RE: Trump Warns Xi: Trade War With China Begins Monday
LoP Guest  Wrote: (08-13-2017 12:29 AM)
They are getting desperate to deflate the markets.

They can't print up 6 trillion dollars without creating hyper-inflation
so they need to trigger a sell-off.

They don't have the money to cover expenditures, so it's coming
down to either DEFLATE by fear and panic or hyper inflate to pay
bills.

Another nice mess the STATISTS have gotten us into.

They've been playing this game of chicken between catastrophic deflation and hyperinflation since at least 2001, probably earlier.

The problem just keeps getting bigger and bigger, which means a few people make extraordinary amounts of money, while a whole lot of other people are wiped out when it crashes.

I think the prevailing theory among alt economists is a massive bout of deflation that wipes out the credit from 2007 on, then another monetary printing binge to restart the economy but by then all rates will be negative.

Once rates drop negative it's all over because that means the future value of all instruments are less than the present value and how can any of the debt ever get serviced? Ans: it won't.

The final step is probably state currencies backed by nothing but politicians promises, that might last 10 years tops.
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LoP Guest
lop guest
User ID: 333211
08-13-2017 12:37 AM

 



Post: #12
RE: Trump Warns Xi: Trade War With China Begins Monday
Let me translate for you - Trump to China, get North Korea to obey or we will screw with your income.

Of course, China won't figure that out.
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LoP Guest
lop guest
User ID: 333211
08-13-2017 12:38 AM

 



Post: #13
RE: Trump Warns Xi: Trade War With China Begins Monday
LoP Guest  Wrote: (08-13-2017 12:37 AM)
Let me translate for you - Trump to China, get North Korea to obey or we will screw with your income.

Of course, China won't figure that out.

Oh, its an old American thing called "teach them a lesson" they won't understand.
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Paranromal
Registered User
User ID: 261758
08-13-2017 12:59 AM

Posts: 538



Post: #14
RE: Trump Warns Xi: Trade War With China Begins Monday
It's about time! Only 0.0002% of Americans actively participate in a private trade war China on a day-to-basis, from retail buying to grocery buying (humanure food - they have the worst export food products to sell us - believe it).

Time for us ALL to do that and apparently it takes governmental decree.

Every Christmas... just don't buy Chinese. We've been giving it away for toys for our kids and ourselves til they have all the gold. Even on Ebay, don't buy the cheapest Chinese version. Period.
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