Donald Trump’s erratic tariff rollout seems likely to deepen the world’s dependence on China and scare off investment in US reindustrializat
"...In theory, the United States might be able to rapidly reorient its trade with other countries to fill at least some of the gaping Chinese-shaped hole this will leave in the US economy. But Trump is also simultaneously levying tariffs against the entire non-Chinese world; is still embroiled in a war with Russia, another top commodities producer sitting on reserves of the rare earth minerals key to supply chains; and has spent months antagonizing Europe and the United States’ two largest trading partners, Mexico and Canada, which he is currently threatening to bomb and annex, respectively. All of that makes the task of quickly replacing the US-China trade relationship much harder. ..."
Jack Ma, founder and chairman of Alibaba, says the Chinese retail giant no longer promises to create 1 million U.S. jobs in the wake of an escalating trade conflict.
Consequences of Trump’s trade war with China.
Ma made his original job creation pronouncement during a high-profile meeting with Donald Trump in January 2017 before Trump's inauguration as president.
Republicans are 100% COMPLICIT #VoteThemAllOut
"The promise was made on the premise of friendly US-China partnership and rational trade relations," Ma told Chinese news site Xinhua on Wednesday. "That premise no longer exists today, so our promise cannot be fulfilled."
Apple dodged stinging duties on its smartwatches and wireless earbuds after the U.S. excluded those gadgets from tariffs on $200 billion in Chinese goods.
Apple has escaped Trump’s tariffs but not China’s. China will retaliate.
There are American components that are shipped to China for assembly that could be tariffed by China. And most of the components are made in Asia.
Coincidence? Trump waited until 5 days after Apple’s product announcement event before revealing the tariffs. ¯\_(ツ)_/¯ Avoiding #BadPR 👎 #AAPL stock
Because Apple assembles almost all of its gadgets in China, its watches, AirPods and other devices are vulnerable to the Trump administration’s plans to widen the scope of tariffs on Chinese imports—a risk Apple warned about earlier this month.
That reliance also could make the iPhone and other devices vulnerable if Chinese officials follow through on retaliatory moves to restrict sales of materials, equipment and parts key to U.S. manufacturers—measures The Wall Street Journal on Sunday reported that Beijing is considering.
The timing of the countries’ new measures could be especially bad for Apple, which this week starts shipping two of its three new iPhones and a new smartwatch. Those new devices are expected to help fuel the company’s sales in the final three months of the year, when Christmas shopping helps deliver about one-third of Apple’s annual revenue.
Never forget: Wilbur Ross and #RepublicansCOMPLICIT for #TrumpTariffs
A number of top lawmakers said the plan does little to solve the overall problem — the Trump administration’s own trade policies — and goes against free-market principles.
Why didn’t Republicans STOP Trump’s Trade War?
Trump and his administration - Wilbur Ross CREATED the Trade War
Why didn’t Republicans who control the House and Senate prevent Trump’s tariffs in the first place?
Republican LAWMAKERS are only offering words but NO action. A repeat of what they did during and after the Trump Putin Summit. #TRE45ON
Taxpayers, Republicans WILL pass Trump’s handout aid package
When Trump makes promises, you know he’s lying #TaxReturns
Trump has another set of tariffs in August. It’s $200 billion worth of Chinese tariffs on 6,000 goods. This one is going to hurt ALL Americans.
“This trade war is cutting the legs out from under farmers and the White House’s ‘plan’ is to spend $12 billion on gold crutches”
"America's farmers don't want to be paid to lose — they want to win by feeding the world," Sasse said in a statement before alluding to the economic conditions at the onset of the Great Depression. "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again."
— Sen. Ben Sasse, R-Neb
“You have a terrible policy that sends farmers to the poorhouse, and then you put them on welfare, and we borrow the money from other countries. It’s hard to believe there isn’t an outright revolt right now in Congress over what is happening.”
— Sen. Bob Corker, R-Tenn
“This is becoming more and more like a Soviet type of economy here. Commissars deciding who should be granted waivers. Commissars in the administration trying to figure out how they’re going to sprinkle around benefits,”
— Sen. Ron Johnson, R-Wisc
“Tariffs are the greatest!”, Trump tweeted Tuesday
“We're opening up markets. You watch what's going to happen. Just be a little patient”, President Donald J Trump #LiarInChief
Farmers and those dependent on farmers for their livelihoods #VoteThemOut #VoteBlue in the midterms
