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"Tariffs are the greatest!"



  • edited July 2018
    Sven said:
    @Sven, One of your links (the first I think) took me to a collection of Bloomberg news stories - probably not what you intended. But thanks. I found this one particularly interesting: “House Speaker rejects Rosenstein impeachment effort”. Two thoughts— I’m surprised to see that Ryan still has a modicum of spine left in him. Didn’t think he had it. But I guess when you’re not running for re-elect it becomes easier. And, where in hell did Rosenstein come from? Maybe dropped out of the sky from heaven? Been taking it on the chin all along and standing up for some basic principals of justice while Trump and many Republicans have taken shot after shot at him. The epitome of grace under pressure. He should run for President.

    Oh, I forgot ... The thread is about tariffs and the auto industry. Most of my life the auto industry has been a major bellwether of the economy. Don’t see why it should be any different now. Affects steel and many other materials sectors, secondary automotive suppliers, banks / finance companies, dealerships, etc. etc. The 6% sales tax on new vehicles is sorely needed here in Michigan. The threat of tariffs is hanging over U.S. domiciled companies like Ford as well (because they build a lot of vehicles outside the U.S. and bring them in). It would be ironic should this push us into recession ahead of the election.
  • A billion here, a billion there, and pretty soon you're talking about real money. (You can raise that to $12B thanks to inflation).

  • @hank, This is like seeing a car crash in slow motion where one industry falls after another. The farmers and the meat industry are suffering. I would not rule out the tariffs will speed up the recession to later half of this year instead of 2019. As I said previously there are no winners in a global war.

    By the way I do like Rosenstein who I think is doing a good job. It is disgraceful to talk about
    impeaching him until Ryan steps in today. Where are the decency of these senators?
  • edited July 2018
  • beebee
    edited July 2018
    The word "quietly" was used:

    Looks like Dollar General will not need to change its name.


    Probably more significant:

    As we bought cheap Chinese goods and exported our inflation (in the form of cheap goods and US Treasuries) we neglected to pay attention to the things China was buying or confiscating (intellectual property).
    The sprawling piece of legislation - which is necessary to approve ongoing military operations - has historically enjoyed strong bipartisan support.

    Earlier in July, U.S. lawmakers cut measures from a defense bill that would have reinstated sanctions on ZTE Corp, abandoning an attempt to punish the company for illegally shipping U.S. products to Iran and North Korea.

    Lawmakers from both parties have been at odds with Republican President Donald Trump over his decision last week to lift his earlier ban on U.S. companies selling to ZTE, allowing China’s second-largest telecommunications equipment maker to resume business.

    An amendment backed by two Republicans and two Democrats would have reinstated the sanctions but was stripped out of the must-pass defense policy bill, lawmakers said on Friday.
  • @bee, thanks for the update. This is only the early phase of tariffs and the impacts are felt across the board. Next is the threat of $500B tariffs.

    With respect to the theft of intellectual property, this has been an on-going issue for a long time particularly with China. In addition, US government failed to have a comprehensive and consistent policy governing these matters and enforcement though the World Trade Organization. Companies are also to blame as well as they are so willing to compromise their own intellectual properties just to gain access to those countries who don't respect or enforce intellectual property. Below is a case of IBM for sharing the computer codes with Russia that enable them to hack the West.

    The ZTE case you pointed out is just disappointing all around.
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