Can Trump Get Out of a Trade Crisis He Created?

[DonViejo]

December 5, 2018 at 9:03 am EST By Taegan Goddard

“Three days after Trump emerged from his dinner with Xi touting an ‘incredible’ deal, U.S. and Chinese officials were offering different accounts of whether there was a 90-day deadline for progress in new trade talks, the schedule for China to increase its purchases of American farm and industrial products, and Beijing’s plans to reduce or eliminate specific tariffs,” the Washington Post reports.

Said Trump on Twitter: “President Xi and I want this deal to happen, and it probably will. But if not remember… I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so.”

First Read: “Remember, this trade/tariff standoff with China is a crisis that Trump created, and it’s a crisis that he ultimately might not be able to solve, because he doesn’t understand that tariffs mean higher prices for American business and consumers.”

###

https://politicalwire.com/2018/12/05/can-trump-get-out-of-a-trade-crisis-he-created/

[Jarqui]

1. With the market plummet, he's backpedaling as quickly as he can

Link to tweet

Link to tweet

Link to tweet

Link to tweet

Link to tweet

Link to tweet

Link to tweet

[dembotoz]

2. guess you just can not fix stupid

[Botany]

3. Trump can't "unring that bell" now. Farmers are now having to plow their crops under.

https://www.reuters.com/article/us-usa-trade-china-grains/harvesting-in-a-trade-war-u-s-crops-rot-as-storage-costs-soar-idUSKCN1NQ0GA

(Reuters) - U.S. farmers finishing their harvests are facing a big problem -
where to put the mountain of grain they cannot sell to Chinese buyers.


Fontenot plowed under 1,000 of his 1,700 soybean acres this fall, chopping plants into the dirt instead of harvesting more than $300,000 worth of beans.

snip

U.S. farmers planted 89.1 million acres of soybeans this year, the second most ever, expecting China’s rising demand to give them better returns than other bulk crops.

But Beijing slapped a 25 percent tariff on U.S. soybeans in retaliation for duties imposed by Washington on Chinese exports. That effectively shut down U.S. soybean exports to China, worth around $12 billion last year. China typically takes around 60 percent of U.S. supplies.

*****************

BTW it looks like farmer Fontenot along with his family were Trump voters.