CTH: In retaliation for $50 billion in U.S. trade tariffs against Chinese imports, China laughably hits back with $3 their own billion tariffs against the U.S. According to most reporting Beijing has selected U.S. pork and scrap aluminum as targets for a 25% tariff, along with wine and fruit tariffs around 15%.
It should be emphasized the approach by China is rather ridiculous considering the Chinese government purchased the largest U.S. pork manufacturer Smithfield in 2013 for $5 billion; at the time the purchase price was 30% more than the company was worth. Smithfield, now a Chinese company, represents 25% of all U.S. pork products.
Do you really think China is going to not import it’s own pork products… or subject them to a domestic tax? Think about it. It’s ridiculous. China knows they have ZERO leverage in a trade-dispute with the U.S., they cannot afford to lose access to the U.S. market. more here
Thanks for that bit of info thar about Smithfield. I avoid Chinese food products like the plague… including ones run by them. Lowest qaulity control on the planet!!
We Have a $300 billion dollar trade deficit with them… we could potentially put a $300 billion dollar trade tariff on them without them being able to hit us with a penny
Pork products just increased in China…
How does that play out?
“I want Pork Fried Rice.”
“No pork! No pork!”
“Well, how bout Roast Pork Egg Fu Yung?”
“No pork! No pork!”
izlamo delenda est …
I like to eat pig products. If it becomes cheaper, I’m for it…..Now, tackle the well marbled Rib Eye market….
Fuk them all, our strength lies in our ability to survive without them.
$50 billion down. $500 billion to go.
Smithfield huh? Too bad for them.
I spoke with the President of one of our Aluminum Suppliers today. Reliance Metals. They’re big. Smelters are scrambling trying to get on line and meet demand. Ford has a truck that is built out of aluminum. They were getting their aluminum from China. It’s a HUGE demand coming back home. He tells me GM has an aluminum pick up coming on line next year. It’s an odd 5000 series alloy. A marine grade.
I’ll put this in the winning column.
So if dependent on the majority of your raw materials from out of country to manufacture finished goods to sell back to those you import from this means in the long run you’ll win?
And buying up lots of your producers overseas and taxing yourself is also a great idea for long term winning.
I think you should increase the tariffs on more incoming goods and materials because it will help you so much with your manufacturing…
Ok, so $455 billion to go.
2017 US-China trade:
Imports from China: $505,60 billion
Exports to China: $130.36 billion
Trade deficit: $375.23 billion
so
Hey, anybody remember back when we used to mine bauxite and actually produce our own aluminum in the U.S.? Isn’t it great that we have to rely on China for our strategic materials? Thanks again, democrats!
I’ve read that China is placing tariffs on nuts, too. Any American cook can tell you that the prices of American nuts have gone way high because Asians have a corner on the market by buying them at much higher prices. Maybe we can afford our own nuts again!
Hey China! Tarriff this! (grabs horrendously oversized groin. 🤪)
Like with North Korea, it’s all for show.
So, China is going to put a tariff on wine. That’s hilarious. Who in China buys American wine? Answer: the Chinese government. Case in point: after Opus One was popularized by Ruth Bader Ginsberg snoozing at an Obama State of the Union address due to (she says…) the fabulous glass(es) of wine she had at the State of the Union dinner, it was nearly impossible to find a bottle of the stuff. The Chinese government came in and bought up damn near every bottle available. So if a new tariff on wines mean the Chinese government keeps its grubby paws off the best wines we have to offer, that’s actually awesome. More for the rest of us, and at better prices as demand will not wildly outstrip supply.
Does anyone remember the Clinton White House selling the Chinese our birthrights?
Buddhist Temple?
My memory’s turned to shit, but there should be some enterprising star out there who can remember.
Sold em our ballistic missile telemetry, too, I believe.
The various Treasons of the Demonrats (and their Republicrat/Menshevik lickspittles and toadies) goes back a long way.
The Iran “deal” is the one that spells out the nuclearization of the Middle East and the second (or third, or fourth) front in any future conflict with China.
Oh, shit! Oprah’s on!
izlamo delenda est …
So, we can refine our own scrap aluminum with our newly-opened refineries, and boycott Smithfield products.
Done and done.