manqiangrexue
Brigadier
Don't forget Apple and Boeing. Boeing just signed a $37 bill contract. Not too early to cancel at all.
Trade War with China
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Quickie
Colonel
More like $50 billion of products that will be hit by tariffs.
A very informative article from Japan Times. It breaks down the value of making the iPhone X as follow
This situation is true to many "made in China" Foreign brands, not only Apple.
Imposing custom duties of 25% on these imports is imposing same 25% on South Korea, Japan, European and US domestic companies. All these countries will be hurt before Apple moves the final assembly line from China (if it can find a place with the same supply chain and infrastructure). Even if Apple moves this plant back to US, the fact of importing most of the components from South Korea, Japan, Taiwan and Europe does not change. The US will only take back the 3 to 6 percent value from China, note the 3/6 does not include the value created in California already today.
So, it looks like TRUMP is shooting China with a bullet (3-6%) and blast South Korea, Taiwan and Europe with a nuke. Maybe this is why China is pretty calm on this "trade war" this time. Perhaps China expects other countries to be equally or more concerned of Trump's punishing China.
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Let's wait to this weekend to see "if Trump will exempt EU for steel and aluminum". EU is the 2nd largest exporter to US after Canada. Mexico is the 3rd. Canada and Mexico are already exempted, with EU exempted, Trump's "punishment" would become an empty threat.
It is possible that EU has given in some concession in exchange for exemption, that could be counted as a win by Trump (renegotiation for better deal). But it is equally possible that EU's list of retaliation convinced Trump to exempt EU for its "compliance". Either way, Trump can claim a win and fulfillment of his election promise, nobody knows if there is any meaningful change.
It is possible that EU has given in some concession in exchange for exemption, that could be counted as a win by Trump (renegotiation for better deal). But it is equally possible that EU's list of retaliation convinced Trump to exempt EU for its "compliance". Either way, Trump can claim a win and fulfillment of his election promise, nobody knows if there is any meaningful change.
manqiangrexue
Brigadier
Jura The idiot
General
The early response:
"China announced plans for reciprocal tariffs on $3 billion of imports from the U.S., including products from steel to pork, after President Donald Trump’s move to order levies on a range of Chinese goods sent markets plunging.
In a statement Friday, hours after Trump instructed U.S. Trade Representative Robert Lighthizer to slap tariffs on at least $50 billion in Chinese imports, China’s Commerce Ministry said it plans a 25 percent tariff on U.S. pork imports and recycled aluminum, and 15 percent tariffs on American steel pipes, fruit and wine.
China will also pursue legal action against the U.S. at the World Trade Organization, the statement said, and called for dialogue to resolve the dispute."
"China announced plans for reciprocal tariffs on $3 billion of imports from the U.S., including products from steel to pork, after President Donald Trump’s move to order levies on a range of Chinese goods sent markets plunging.
In a statement Friday, hours after Trump instructed U.S. Trade Representative Robert Lighthizer to slap tariffs on at least $50 billion in Chinese imports, China’s Commerce Ministry said it plans a 25 percent tariff on U.S. pork imports and recycled aluminum, and 15 percent tariffs on American steel pipes, fruit and wine.
China will also pursue legal action against the U.S. at the World Trade Organization, the statement said, and called for dialogue to resolve the dispute."
AssassinsMace
Lieutenant General
I'm watching the news post-tariff announcement and there are all these TV anti-China hawks during Obama era especially on trade coming out attacking Peter Navarro, many of whom were TV colleagues of his then, for tariffs on China. Navarro was spinning the stock plunge that apparently the Trump Administration didn't see coming. Navarro spun it as an opportunity to buy cheap stocks. Also they're claiming there's no trade war unless China retaliates so the trade war would be China's fault. Yes wife abusers have the same mentality. If she would just do what he wanted, then she wouldn't be abused so it's her fault.
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