The Politicus

Trump Is Still Screwing Up Trade.


While we are focused on government-sponsored child abuse, Hurricane Maria’s death toll in Puerto Rico, Mueller’s Russia Investigation, and the deaths of Senator John McCain and Aretha Franklin, looks like Trump thinks he can slap another $200 billion in tariffs on China next week, according to Bloomberg that is.  I suspect this may be true because Trump is beating his chest that he renegotiated a trade pact with Mexico and is actively shitting on Canada.

Frankly, I think the media is falling for another load of BS from Trump.  I seem to recall that Trump announced that North Korea had denuclearized after his meeting with Kim Jung Un in Singapore.  Turns out that didn’t happen so I will wait to see what the so-called details of on the Mexico trade deal.  And Canada has told Trump “No Deal” when it comes to renegotiation of NAFTA.

Anyway, looks like Trump thinks he is on a winning streak with regards to trade, so China is going to get the treatment next week.

President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter….

Companies and members of the public have until Sept. 6 to submit comments on the proposed duties, which cover everything from selfie sticks to semiconductors. The president plans to impose the tariffs once that deadline passes, according to the people familiar with the matter, who spoke on condition of anonymity because the discussions aren’t public.

I think with that other $50 billion in tariffs that we are talking about a real trade war with China.

Now, this could be Trump bluster, but I think that Trump believes this will be a good thing for himself and maybe for Republicans in the midterm elections.  Trump is showing he is “tough” when taking on China, and even the dummies in his base who have been hurt by previous Trump tariffs are all, “YAH! HIT THE CHINESE!!! Just PLEASE have a real plan for afterwards their Dude!”

And here is where we have the BS meters going off in the Trump Whitehouse:

The Trump administration is finalizing the list of Chinese targets and tariff rate, which could range from 10 percent to 25 percent, following six days of public hearings earlier this month. Trump’s plan to bring down his biggest hit yet on China comes as two-way trade talks show little signs of progress.

China hawks have been on the ascendancy in the Trump administration. One of them — U.S. Trade Representative Robert Lighthizer — has been responsible for one of the president’s biggest trade victories so far by forging a bilateral trade deal to replace Nafta with Mexico. The deal was announced on Monday and Canada is now negotiating to join.

Anyone seen the details of this supposed deal with Mexico?  I really am feeling the Singapore meeting vibe here.  And at least one Wall Street analyst believes there will be an agricultural recession next year with the price of corn dropping to $3.20 a bushel.

Trump’s actions on tariffs may not come to fruition this fall, but it sounds like it will come like a hail storm next year.