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Perhaps unsurprisingly... China's response to US tariffs is being misreported..

Many headlines state that China is conceding because they said they will no longer raise tariffs if the US responds...

What China actually said..

China will ignore further tariff increases because "it's already impossible for the Chinese market to accept US imports at the current tariff level."

China also, once again, said they will "fight to the end."

this doesn't end well for anyone.
 
Nocty said:
Perhaps unsurprisingly... China's response to US tariffs is being misreported..

Many headlines state that China is conceding because they said they will no longer raise tariffs if the US responds...

What China actually said..

China will ignore further tariff increases because "it's already impossible for the Chinese market to accept US imports at the current tariff level."

China also, once again, said they will "fight to the end."

this doesn't end well for anyone.
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It is not being misreported.

It is the signal for the end of the escalation. They are not fighting to the end as we all feared, this shows that they are not going to escalate any further.

They can now sit down and negotiate for a deal.

That's what the market want.
 
Project EVE said:
It is not being misreported.

It is the signal for the end of the escalation. They are not fighting to the end as we all feared, this shows that they are not going to escalate any further.

They can now sit down and negotiate for a deal.

That's what the market want.
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In the US dreams perhaps. At this point they both embargoed each other realistically due to the prices make it impractical to do business. We will see how it plays out.
 
LegendOfKage said:


Interestingly enough, the guy talking about this 30 years ago was an independent who didn't belong to either major political party.
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I actually referenced that earlier in the thread.

Rentahamster said:
I didn't see that but 1996 was a long time ago and we would have had much more leverage back then. Ross Perot's comments about NAFTA during his debate with Clinton and Bush are also interesting in light of history. Since that time we've transformed our economy for better or worse (arguably better for rich people and worse for everyone else) so that we leave the "shit" work to them and make bank on the value added product ourselves. Those decades of change are nearly impossible to undo in one presidential term. While it may or may not have been a good idea both back then and now, it is definitely much more unfeasible now compared to back then.


edit: I still didn't watch the video but I would assume that upon closer inspection, the kinds of tariffs that Pelosi is talking about are specifically targeted tariffs to strategically protect certain vulnerable sectors of the domestic market. Which is a lot different than the current tariffs, which are more like trade deficit calculated tariffs that are less surgical and more chainsaw-y.



The same political party of unfettered capitalism and globalism that you blame for the problem is same one trying to sell you the solution.
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GHG said:
I wouldn't be too alarmed about the Dollar yet.

All signs are that it's primarily due to the unwinding of Yen carry trades yet again (the same thing that sank markets last August).

It's if the current surge in the Euro fails to subside that you need to be worried.
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Surely Yen carry trade unwinding is more serious than a few market jitters. A lot of that Japanese money was spent on US Treasuries.
 
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trump busting Uturns already
 
Kittehkraken said:
Massive win for China.

The phone calls from Tech CEOs that made him swallow his pride must have been brutal.
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Yea, those calls to the president came right after Xi called said CEOs and conversed with them in Mandarin ala John Cena.

Remember during COVID when they skipped the Greek letter Xi so as to not offend Xi?
 
Whew. Hoping my beaten down tech stocks rebound Monday. I took a small dip buying more a few days ago. Breaking even on those buys. But if the tech sector can rebound a couple really good days, my portfolio will be back to pre-tariff despite a shit kicking for probably 3 weeks straight.
 
Bonds and the dollar are much more dangerous things that many are worried about losing value.

Deutsche Bank put out a statement that the world is losing trust in the dollar.

Again, this is all so fucking stupid.
 
Nocty said:
perhaps in the short term yes, but I still think we are going to have a big down year this year. The damage is already done.
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Of course, it's fucked up big time. There will be a recession in the US this year. And even worse the USA will drop its standing in the world as it will be seen as chaotic and unreliable. Boeing orders will drop, military orders will drop and I support Canada buying the Swedish fighters instead of the f35. You cannot rely on the US with Trump in power as he can do anything at 2am when he doesn't have his KFC
 
It's going to be a disaster. Some people really think the U.S. is the center of the universe and unfortunately that's going to be what causes us to lose our economic standing. It's very ironic and very stupid. But yeah let's see if we can continue to be the richest country in the world w/ no trade, no tourism, and every other country boycotting our products.
 
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lol



I am just glad there is no depression. There might still be a recession that comes out of this nonsense since this fucking fiasco probably caused a lot of long term damage that we dont even fully understand yet, but im just the worst is over.
 
SlimySnake said:
lol



I am just glad there is no depression. There might still be a recession that comes out of this nonsense since this fucking fiasco probably caused a lot of long term damage that we dont even fully understand yet, but im just the worst is over.
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I'm not American or Chinese and don't watch news. Did it actually happen exactly as the tweet said?
 
San Dan Glokta said:
I'm not American or Chinese and don't watch news. Did it actually happen exactly as the tweet said?
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"Exactly" is a tricky word. However, it happened the way that tweet describes it. It is not a mischaracterisation. It would be better though if the last line read "Trump rolls back some tariffs".
 
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So with the announced reduction in tariffs for some products the current statements hold true (data from Paul Krugman with associated discussion):

Import a laptop battery from China to the US -> 145% tariff
Buy laptop from China (with the laptop battery) to the US -> 20% tariff
Buy laptop battery from China to third country (not US) and assemble laptop there and then to the US -> 0% tariff

So the current structure actually disenfranchise advanced assembly in the US...is anyone actually thinking here?

Confused Parks And Recreation GIF
 
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Ecotic said:
Lutnick walking it back this morning. Says chips, smartphones, t.v.'s, and other electronics will have their own special sectoral tariffs coming soon.


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A bizarre collection of country specific tariffs, "reciprocal" tariffs, and sector specific tariffs to browbeat businesses to reshore to the US instead of incentivizing them.

It'll cost $42B annually just for the Detroit 3 automakers alone regarding the auto sector tariffs so that's less revenue to build plants, now with increased costs due to tariffs on construction materials.

 
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