Economy

Trump Imposes New Tariffs While Trade “Talks” Continue

JM Ashby
Written by JM Ashby

Chinese and low-level Trump regime officials are currently holding trade "talks," but while those talks continue Trump is still escalating his trade war.

The Trump regime has now officially imposed another round of $16 billion in tariffs that were first announced weeks ago and China has responded in kind.

via Reuters:

The world’s two largest economies have now slapped tit-for-tat tariffs on a combined $100 billion of products since early July, with more in the pipeline, adding to risks to global economic growth. [...]

Business groups expressed hope that the meeting would mark the start of serious negotiations over Chinese trade and economic policy changes demanded by Trump.

However, Trump on Monday told Reuters in an interview that he did not “anticipate much” from this week’s talks.

Happy talk and "trade optimism" have fueled a minor rally on Wall Street over the past two weeks, but that's obviously not going to last, especially not if Trump goes through with his next round of tariffs which is expected to total up to $200 billion.

I have to say this entire ordeal has been quite a lesson in just how gullible and easy to manipulate stock traders are. It's not a mystery how we got the 2008 financial crisis, but at the same time I'm still learning that Wall Street is full of genuine dumbasses, not just greedy conmen.

  • muselet

    In response, “China immediately imposed retaliatory taxes on the same value of US products.”

    Is anyone surprised?

    It also appears that China has lost patience with Donald Trump’s antics.

    Trump’s trade war will not end well for the US.

    –alopecia

    • KanaW

      I wish Discus had the option of various reactions on the upvoting. I’d use a very sad face. I’m in the UK right now, and I see both the US and the UK governments marching down the road to economic ruin, chanting patriotic slogans at the top of their lungs.

  • Draxiar

    Is it weird that I think of the stock goons like the end of Trading Places? Everyone packed in screaming and shouting numbers and pieces of paper flying like confetti with hieroglyphic numbers scrolling along the walls…

    • waspuppet

      What I can’t help notice is that the market plummets every time Trump says something about his trade war and the goons think “Oh s%&t he really means it.” Then a few days go by and they figure he forgot about it (which he probably did). Then he says something and they go “Oh s%&t” again.

      • Draxiar

        I don’t know much about stocks or how the market works and frankly, I’ve never had a desire to get involved in it…it’s just not my kick. One of the things I have absorbed over the years though is that people involved in it like stability. Pumpkinhead is anything but stable and I imagine it’s making the traders go outside their mind.

        • waspuppet

          I don’t know much about the market either, but what I do know is that there are some people who value long-term stability and some meatheads who will do and say literally anything to grow even the tiniest bit in time for the next quarter’s earnings report, and basically act like addicts — give me what I want now and we’ll figure out what to do next later.

          I don’t know which percentage which group constitutes, but there are definitely both.

        • This. Business people love stability because stability means predictability. Ergo $$$$.