US-China Trade War Update!

[squatz1]

Big news on the Trade War that's been going on between the US and Canada, and I think this news is going to lead to a market that's going to fly off the hinges tomorrow (US market, is what I'm talking about specifically)

First, there was this news story - https://www.bbc.com/news/world-latin-america-46413196 - "US-China trade war: Deal agreed to suspend new trade tariffs"

Which in layman's terms, practically meant that the US and China agreed to not further increase tariffs on one another's goods while negotiations are ongoing (I think it's like 90 days to allow for this). China also agreed to buy a substantial amount of US agriculture, energy, and industrial products. Unknown on the numbers at this time, but that's what's being said.

Also CHINA AGREED TO DESIGNATE FENTANYL AS A CONTROLLED SUBSTANCE Meaning that this drug that is playing a huge role in the opioid crisis, will not be allowed to be made in China any longer (also, China has some pretty crazy punishments for controlled substances. I'm talking about like death for any amount)

Plus some agreements on protecting intellectual property, which China is infamous for disregarding.

Another story also just came out about 15-30 mins ago - https://www.bloomberg.com/news/articles/2018-12-03/trump-says-china-has-agreed-to-reduce-remove-car-import-tariffs - Trump Says China Has Agreed to Reduce, Remove Tariffs on Cars

I don't think I have to explain that one, it just means that a 40 percent tariff that was on cars produced in America and imported into China would be due for a 40 percent tariff (pretty hefty) Big news if American car makers are going to want to expand into the Chinese marketplace. But I guess we'll see what this does.

Any comments on any of this? Would love to hear what others think about it.

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[Bytecoiner419]

Thank You President Trump.

[bluefirecorp_]

Thank You President Trump.

Uhh, he started the war.... why thank him for fixing something he caused?

[squatz1]

Thank You President Trump.

Uhh, he started the war.... why thank him for fixing something he caused?

Probably due to the fact that as of right now, the 'war' seems to be going towards it being mutually beneficial towards both sides. As all Trump wanted to do was fix problems that have been persisting from the Chinese side for a pretty long time (such as theft of IP, Opioid Crisis - Fentanyl, tariffs on American goods coming into China, etc etc.

So yeah, I see this as a beneficial part of negotiations and hope that the tariffs can be removed once negotiations are complete.

[criptix]

This is not the way to stop "Made in China 2025".

TBH it was really one of the only good points of trump: being a hardliner against china.


Seems Xi is a number to big for trump and he got outsmarted by our new yellow overlords.


/edit

If you think this is a trade war, you are terribly wrong.
This is geopolitics which will decide the fate of the world for the next centuries.

[DireWolfM14]

Thank You President Trump.

Uhh, he started the war.... why thank him for fixing something he caused?

He voted against the war before he voted for it, then he started so he could resolve it.  Don't forget, he'll have to vote for the resolution before we know what's in it.

[Eirecoin]

My mouse, my laptop, my smartphone , my tv, my chair, my fridge, my AC, my blender and almost all my tools and other stuff already say "Made in China" so maybe we are in "Made in China 2018". Those taxes impose on China are being paid by the average American consumer :/

[Flying Hellfish]

Trump told us trade wars are easy to win, how come this one isn't over yet.  Why do we need a truce the Chinese were supposed to beg for "peace" they should have given the unconditional surrender by now!  Why has the trade deficit with china increased so much since the trade war started.

Tariff man, he steals from the poor and gives to the rich, a true GOP super hero!

[dogtana]

Why are tariffs even needed on Chinese "goods"? Apart from some exceptions, they are low quality in my opinion.

[Quickseller]

Thank You President Trump.

Uhh, he started the war.... why thank him for fixing something he caused?

Actually he is standing up for the US after decades of abusive trade practices by China (and others). Prior to Trumps intervention, tarrifs on US exports was much higher than US imports, putting the US at a major disadvantage. China specifically also has a long history of stealing technology developed and owned by US companies. The US cannot do this to Chinese companies because their companies don’t own technology to the extent US companies do.

[squatz1]

Trump told us trade wars are easy to win, how come this one isn't over yet.  Why do we need a truce the Chinese were supposed to beg for "peace" they should have given the unconditional surrender by now!  Why has the trade deficit with china increased so much since the trade war started.

Tariff man, he steals from the poor and gives to the rich, a true GOP super hero!

I'VE BEEN WAITING FOR YOUR COMMIE ASS TO COME TO THIS THREAD!

Here's the thing with this trade war, it's been going on for years and it's been something that the US has been losing for a long time now. We've literally just been letting the Chinese do as they please for forever, and only now are we saying -- no, you're not allowed to just steal intellectual property without consequences, and no you cant place tarrifs on goods coming into your country but then want the lowest tarrifs for other countries.

China has been abusing us for long time, and it may not be a quick win -- but I do trust that this administration knows that they're going to do the right thing and win out in the end.

[Flying Hellfish]

I'VE BEEN WAITING FOR YOUR COMMIE ASS TO COME TO THIS THREAD!

Here's the thing with this trade war, it's been going on for years and it's been something that the US has been losing for a long time now. We've literally just been letting the Chinese do as they please for forever, and only now are we saying -- no, you're not allowed to just steal intellectual property without consequences, and no you cant place tarrifs on goods coming into your country but then want the lowest tarrifs for other countries.

China has been abusing us for long time, and it may not be a quick win -- but I do trust that this administration knows that they're going to do the right thing and win out in the end.

So trade wars are complicated is that what your saying, cause I'm not sure what to believe anymore Trump said they were easy to win. 

JESUS TAKE THE WHEEL!  If you think a man that lost hundreds of millions of his fathers money, lost millions in casino's (for everyone else casino's are a license to print money lol), went bankrupt 6 times, and is NAMED by his own DOJ as a FELON is the right fellow to fix a problem that has been around for decades and is complicated as fuck then you might as well just employ the old JESUS TAKE THE WHEEL policy!

[squatz1]

I'VE BEEN WAITING FOR YOUR COMMIE ASS TO COME TO THIS THREAD!

Here's the thing with this trade war, it's been going on for years and it's been something that the US has been losing for a long time now. We've literally just been letting the Chinese do as they please for forever, and only now are we saying -- no, you're not allowed to just steal intellectual property without consequences, and no you cant place tarrifs on goods coming into your country but then want the lowest tarrifs for other countries.

China has been abusing us for long time, and it may not be a quick win -- but I do trust that this administration knows that they're going to do the right thing and win out in the end.

So trade wars are complicated is that what your saying, cause I'm not sure what to believe anymore Trump said they were easy to win. 

JESUS TAKE THE WHEEL!  If you think a man that lost hundreds of millions of his fathers money, lost millions in casino's (for everyone else casino's are a license to print money lol), went bankrupt 6 times, and is NAMED by his own DOJ as a FELON is the right fellow to fix a problem that has been around for decades and is complicated as fuck then you might as well just employ the old JESUS TAKE THE WHEEL policy!

He didn't lose money from his father's company, Forbes even states that he did inherit a small amount of money (compared to the amount that he made himself)

https://www.bbc.com/news/business-35836623

Bankruptcy is used as a way to discharge loans, and even if it is something that isn't 'nice' to do, it does make debts go away and it's part of the law that can be used.

[Flying Hellfish]

Bankruptcy is used as a way to discharge loans, and even if it is something that isn't 'nice' to do, it does make debts go away and it's part of the law that can be used.

You're 100% right its legal and done frequently, but when you do it over and over again as a business model the guys lending the money end up saying ya, no fuck you no more loans.  Then if your Trump and can't get loans in American you go to Russia who is happy to give him money for some reason  

For an alternate view on Trumps financial history you can see the NYT article based on 1000's of actual documents...  I won't quote or link it as I think it might be behind a paywall.  (You might find them interesting based on things we've talked about in private).

Trump's business model of rape and run isn't going to beat the Panda!

[Quickseller]

Bankruptcy is used as a way to discharge loans, and even if it is something that isn't 'nice' to do, it does make debts go away and it's part of the law that can be used.

You're 100% right its legal and done frequently, but when you do it over and over again as a business model the guys lending the money end up saying ya, no fuck you no more loans.  Then if your Trump and can't get loans in American you go to Russia who is happy to give him money for some reason  

I am not aware of Russian (banks) lending to Trump on terms not being offered elsewhere. Do you have a source on that?

A lot of businesses fail and bankruptcy doesn’t necessarily mean a total loss for bond holders. A business filing bankruptcy is very difficult than a person filing bankruptcy as creditors often receive nothing from a personal bankruptcy while creditors in a chapter 11 will sometimes be made whole.

[SCheek]

Thank You President Trump.

Seconded

[Ciscopro2000]

China’s predatory business practice of “partnerships” with US companies has gone on for too long.  They use it to steal technology then come out with competing but much cheaper alternatives.  Once the competition is driven out of business, they then own the market.  No other country is such blatant copyright infringements goes unpunished.  This is actually China’s business model.  Lol.

[KingScorpio]

trade war is complete ridiculous (we want to sell you more than you us)

fixing the financial system will change how people think about that.

[Incodium Coin]

Trade wars are to be avoided, through careful negotiation of tariffs if necessary. Every country is trying to make the most of their trade relations, cut corners if they can. It's not very straightforward to correct these situations, and there are usually short or long-term losses to parties in both countries.