SoylentNews is people
SoylentNews
President Trump has signed a presidential memorandum directing the U.S. Trade Representative Robert Lighthizer to draw up a list of Chinese products on which tariffs could be imposed. The list will be made public in 15 days, and tariffs will take effect after a 60-day comment period:
The US plans to impose tariffs on up to $60bn (£42.5bn) in Chinese goods and limit the country's investment in the US in retaliation for years of alleged intellectual property theft.
The White House said the actions were necessary to counter unfair competition from China's state-led economy. It said years of talks had failed to produce change. China said it was ready to retaliate with "necessary measures". Beijing also said it would "fight to the end" in any trade war with the US.
US stock markets closed lower on Thursday, as investors responded to the announcement. [...] The White House said it has a list of more than 1,000 products that could be targeted by tariffs of 25%. Businesses will have the opportunity to comment before the final list goes into effect.
Reuters portrays the action as "far removed from threats that could have ignited a global trade war". Bloomberg notes that many industry trade groups and companies are opposing the tariffs.
Related: US Government Puts Tariffs on Imported Solar Cells, Solar Modules, and Washing Machines
Major US Solar Company Blames Job Cuts On Trump's Solar Import Tariff
U.S. Steel and Aluminum Imports to Face New Tariffs
(Score: 4, Insightful) by c0lo on Friday March 23 2018, @12:40PM (3 children)
If there's a rational explanation to what he does, the only one I can find is to put the global(ized) capital market to make a choice where it is going to invest - US or China.
It is clear that, assuming status-quo, he doesn't have enough leverage to make capital market to unconditionally prefer US (in spite of China asking for the control share in enterprises and know-how transfer and what-not), the bean-counters still prefer to go China - no offense meant, but there's the quarter-after-quarter growth that the shareholders like, long-term be damn'd.
Trump gave already what carrot he had - took a hit of $1T+ in US budget over 10 years, demolish consumer and environ protection legislation, etc; and yet the response has been lukewarm.
He hopes that the stick - a war-like situation - will polarize the situation enough to force a pro-US choice and decided to start a trade-war.
If I'm right (and that's a big if), I'm afraid to think what will happen when the capital market will still prefer China as an investment destination
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2, Funny) by Sulla on Friday March 23 2018, @01:39PM (2 children)
I have some sweet sweet securities I would like to sell you if you are looking for year after continual growth and security. 16% average over 14 years, for details contact Bernard L. Madoff Investment Securities LLC.
Ceterum censeo Sinae esse delendam
(Score: 2) by c0lo on Friday March 23 2018, @02:22PM (1 child)
Madoff was a patriot, all the squandered money was spent into the American economy.
Unlike the others with accounts in Cayman and other such places.
(grin)
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 3, Informative) by khallow on Friday March 23 2018, @05:06PM
He certainly played to his audience. Can't find the story now, but supposedly he had some nice art in his office for prospective investors to gawk at. But it went into hiding when auditors were about. I think the above shtick you mention was a real thing that helped him rope investorsof the patriotic sort, but it was only one of many tricks he employed. Here's another article [npr.org] speaking of his approach:
[...]