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China announces tariffs on 128 commodities

Posted: Sun Apr 01, 2018 8:48 pm
by John Q. Public
I have a feeling Donald's tariffs just backfired on him bigly. Yugely.

I haven't been able to find a complete list, but so far I've seen 25% on pork (Iowa) and aluminum scrap and 15% on 120 other commodities, including soybeans, fruits and nuts. I haven't seen anything about coal but I know China's our biggest customer for it. And then there's petroleum.

Bad news for all those farmers, and maybe miners and drillers out in Trumpland, good news for blue state meat and produce consumers after they get over the shock of Walmart's wanting more for toasters, toys and bathroom rugs.

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 3:11 am
by Vilepagan
John Q. Public wrote: I have a feeling Donald's tariffs just backfired on him bigly. Yugely.
Is anyone at all surprised? Did anyone really think the Chinese were just going to sit back and take it?

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 5:16 am
by Wabash
Didn't Hoover try the same thing with the Smoot Hawley Act?

Did that help or hurt the economy in 1930?

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 6:22 am
by broman
Who would of predicted that economic policy based on grievance might have some negative consequences?

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 7:26 am
by John Q. Public
Clarification on the OP. Maybe. The wording isn't all that clear. Add wine, ethanol and steel pipes, and apparently the 120 products is all the different categories of products broken down individually. Some are consequential, some not. $56,000 worth of peaches is probably one container; $121 million worth of cherries is quite a few.

Percentage of our crop involved is 3% for nuts, 6% for fruit, 5% for wine and 9% for puerco. All of those are considerable when you draw out the cost to retail and when you consider that any negative growth in an industry hurts. China's tariffs go into effect today (not sure if that includes goods in transit), ours go into effect in either 30 or 60 days depending on who you ask, what day it is, what the weather's like and what Faux-N-Friends has to say.

Next on Don's list are tech and intellectual properties.

http://money.cnn.com/2018/03/23/news/ec ... wine-pork/

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 8:00 am
by broman
John Q. Public wrote: Percentage of our crop involved is 3% for nuts, 6% for fruit, 5% for wine and 9% for puerco. All of those are considerable when you draw out the cost to retail and when you consider that any negative growth in an industry hurts
Only liberals work in those industries.. :mrgreen:

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 8:13 am
by John Q. Public
Oh. And my point was that it was going to backfire politically more than it would economically. Growers favored Trump, the people benefiting from any glut likely didn't.

Re: China announces tariffs on 128 commodities

Posted: Mon Apr 02, 2018 10:58 am
by Vilepagan
Is it still too early to mention the stock market and how much it's fallen because of the orange loudmouth in the Oval Office?

Re: China announces tariffs on 128 commodities

Posted: Fri Apr 20, 2018 5:00 am
by Wabash
CNN is announcing China's newest tariffs.

China slaps 179% charge on US sorghum imports
Squeezing the sorghum trade could also hurt America's rural economy -- particularly in states like Kansas -- where President Donald Trump has a lot of support.
Other states that produce sorghum include; Texas, Arkansas, Nebraska, Colorado, Oklahoma, South Dakota, Missouri, Mississippi, and Louisiana.

I'm sure it's a coincidence those are states won by Trump.

It's been reported that several ships bound for China made u-turns when the tariffs were announced.

Re: China announces tariffs on 128 commodities

Posted: Sat May 05, 2018 5:54 am
by Wabash
China may have opted to not engage in a trade war via tariffs. It seems they are using a different tactic. They are not buying entire products. Numerous stories out there that the Chinese have stopped buying soybeans from the US.

Someone forgot to tell the president those who import American ag products have options.

Re: China announces tariffs on 128 commodities

Posted: Sat May 05, 2018 11:29 am
by Professor Fate
Yeah, I'm sure he thought they had no options. :roll: Please stop...I feel bad for you. You're embarrassing yourself with some of your posts, Wabash.

Re: China announces tariffs on 128 commodities

Posted: Sat May 05, 2018 3:28 pm
by Wabash
Professor Fate wrote: Yeah, I'm sure he thought they had no options.
Thanks. I agree.

Re: China announces tariffs on 128 commodities

Posted: Sun May 06, 2018 6:31 am
by not4u13
It's not just the tariffs either. It's a change in purchasing and that change could be more permanent than we would like. Take soybeans (https://www.bloomberg.com/view/articles ... hina-talks). Seems like a minor issue to stop buy soybeans from the US, but we sell a LOT of soybeans to China (or a least we did).

Barriers to procuring product from a different source are often the lack of a good distribution network, which can drive the landed price higher. Once these networks are established in an effort to avoid buying from the US, the cost of that distribution drops and new habits are formed. If this goes on for long, I predict that the US will never regain the market share it once had with China.

Re: China announces tariffs on 128 commodities

Posted: Sun May 06, 2018 9:23 am
by Wabash
I have no sympathy for those soybean farmers who voted for Trump. Elections have consequences.

They were more concerned about her emails.

Re: China announces tariffs on 128 commodities

Posted: Sun May 06, 2018 10:58 am
by John Q. Public
When others talk about the forest and the broader ecosystem, leave it to Wabash to bring the focus back to that one single tree he's so fascinated with.

In other words, Not4u's post wasn't about Hillary, Trump voters or even just soybean farmers. It's about 128 commodities that China can just as easily buy from somewhere else and the effect on the American economy if it does.

Re: China announces tariffs on 128 commodities

Posted: Mon May 07, 2018 4:11 am
by Wabash
Just pointing out the irony of those who are getting hurt by a policy from someone they supported because they believed that someone successful in business would benefit them.

Re: China announces tariffs on 128 commodities

Posted: Mon May 07, 2018 6:31 am
by John Q. Public
Yes. We know. Because you're unable to see beyond that one little tree. Not4u used soybeans as an example. There are 127 other products he could have used - many probably made by people who didn't vote for Trump.

His post was about the big-picture, long-term effects of a trade war; yours was about people who are less enlightened than you are. Again, it was so far from his point it was damn near off topic.

Re: China announces tariffs on 128 commodities

Posted: Mon May 07, 2018 6:50 am
by Wabash
The significant point is that China isn't going to care about any tariffs Trump enacts. They will just go elsewhere. The salient point is why would any country sign an agreement with Trump if they believe he will not abide its terms.

Re: China announces tariffs on 128 commodities

Posted: Mon May 07, 2018 8:31 am
by MDDad
Wabash wrote:The significant point is that China isn't going to care about any tariffs Trump enacts.
No, the significant point is how you twist every topic into one of your two or three hot buttons.

Re: China announces tariffs on 128 commodities

Posted: Mon May 07, 2018 8:50 am
by Wabash
More than one group has expressed buyers remorse.

They're tired of all the winning.

As is your custom you attack me personally.