News of Trump's new 25% consumer tax on steel & tech crashes stock market today
 

25% Trump tarrifs on Chinese steel & technology products begin Friday. The 25% price increases will be passed directly to consumers. A tax. Thanks for increasing the prices of goods 25% you fat sweaty pig Trump as you continue to have the largest trade deficit with the Chinese in US history :disgust

Stock market crash -473 points

Major Stock Indexes Plunge As Trump Enacts Higher Tariffs On Chinese Goods | NPR

The Dow Jones Industrial Average plunged 473 points on Tuesday after Trump administration officials accused Beijing of reneging on commitments it had already made in trade talks. The blue chip index, which earlier was down more than 600 points, closed the day down 1.8%.

Other indexes also fell, with the S&P 500 down about 1.7% and the Nasdaq composite down nearly 2%.

The Trump administration has threatened to raise tariffs on $200 billion in imports from China to 25% from 10%, starting on Friday.

On Monday, after President Trump threatened to raise the tariffs, the Dow fell more than 450 points, before recovering to close down 66 points.

At a briefing with reporters Monday afternoon, U.S. Trade Representative Robert Lighthizer said China was "retreating from specific commitments that had already been made."

Treasury Secretary Steven Mnuchin said China was "trying to go back on language that had been previously negotiated."

The Chinese delegation is expected in Washington for talks set for Thursday evening and Friday, U.S. officials said.

It's called a trade war...one you admitted yourself was needed to fight against China because 4 generations of presidents were too weak to do anything about it.

Hopefully you'll be as happy about the market dropping as you will when it breaks unprecedented records when we win this trade war you fucking American hating POS.

You know that every time Trump imposes a tariff, that YOU are the one who has to pay for it, right?

You don't think the tariffs we impose on China hurts them?

Holy fuck dude!

We have a record trade gap under Trump. Do you know what that means? It means that we buy billions more from China than they buy from us.

That means we pay a hell of a lot more with the tariff war than they do it impacts us a lot more than it impacts them , this is why our stock market is crashing yet again.

You don't think it hurts you as well?

He is Russian. So nyet.

Republicans defending a 25% consumer tax on Chinese tech and steel 'cause "Trump" :disgust

Of course. But when it's all said and done we walk away with a better deal. NO matter what. We literally can't lose. Our weak politicians have let this happen. Something has to be done.

How many times have you said something needs to be done? You're such a liar.

It doesn't affect Russians

The funny thing is, the reason why Trump is doing this because the Chinese are dragging their feet. They probably know if Trump loses and some WEAK Lib president gets in, they can continue fucking us in the ass and it will be business as usual.

Jesus you are stupid.

All of the west has a trade imbalance with the low cost manufacturers in the east.

Its because they make stuff cheaper than we can.

You will note I am using deliberately simple language.

It is not because the leaders of the west are weak, it is because when given a choice the western consumer votes with his wallet.

It really is bizarre that you swallow this shite from Trump. A trade imbalance is not necessarily a bad thing, we like our consumer goods cheap, we like our disposable lifestyle.

The western consumer lifestyle cannot exist as we know it without millions of Asians working for peanuts. Unpalatable maybe, but an undeniable fact.

:2 cents:

It's not only about trade, dumbass. They steal our intellectual property willy nilly which costs us a half a trillion dollars a year. I guess you think we shouldn't do anything about that either?

oh yeah - their annual growth rate went down from 6,8 to 6,4 %
how much of the US growth rate of 3,2 you want to burn til theirs is on zero ?

i think it will not last long tile the world makes their own trading without calculating the US in.
maybe you can sell your oil and gas than to saudi arabia. I´ve heard it is fucking cold there.

I can guarantee you every one of these dumb libs would be fawning over Obama if he had the nuts to step up to China like Trump has and is doing.

You are correct some Chinese companies have taken the piss on intellectual copyright. If Trump had this at the core of his motivation I would have more sympathy for his argument. However he does not. Ever.

So dumbass, where did you get that “half a trillion” from ?

Did you make it up ?

Or is it like the Baboons tax returns ?

The entire point of the steel tariff is to make the US steel industry profitable enough to get going again (and in turn provide new jobs that were lost decades ago).

The real danger here is US industry investing in this newly increased output and then the next Democrat president ends the tariffs, thus giving the steel production market back to China.

We dont say that in America.

We got Russians and who knows who arguing about American shit.

That's wild.

he did and it was very easy, they called it // TPP, took 7 years of negotiations to get the green light.

But that also would of given them more swing at Russia, and no way Putty could have that.

Even China admitted it was the one thing that would of crushed them. Trump cancelled it day one and opted for hidden taxes and social handouts to farmers, while fucking Americas future.

they do not steal anything...you go over there and hand it over...they say "american man, if you want to make cheap shit in our country you gotta hand over the tech"...and the american man says "anything for a profit!"

that is not theft :2 cents::2 cents:

lessons learned:

1) patriotism stops at the wallet
2) americans love selling each other out

china is not to blame for this at all...you guys could produce in india or vietnam or africa...but no...you love to do it in china...not their fault at all LOL

no the whole point was for trump to promise magic beans in exchange for votes...you can not make fat girls attractive by passing a law and you can not make the american steel industry attractive by passing a law...if you guys could compete, you would...but you cant :2 cents::2 cents:

Less then 2% drop is not a crash. It is barely a weekly dip:2 cents:

10 % drop is called a correction

Cosistent fall over 20 % and not recoverimg would be a crash.

With current levels that would have to be a drop of about 5,000 points over a period of a week.

Now, the next crash is coming, but it is not here yet

Well he added 500,000 manufacturing jobs.

https://thumbor.forbes.com/thumbor/9...2-1200x675.jpg

^^ magic beans

"A 2017 report by the independent and bipartisan U.S. Commission on the Theft of American Intellectual Property put the annual cost of IP theft by all parties at $255 billion to $600 billion in counterfeit goods, pirated software and stolen trade secrets; these figures do not include the full cost of patent infringement. The commission named China "the world's principle IP infringer."

Now what? Should we scrap this whole trade war thingy because some foreigner doesn't like Trump?

your own chart is wrong LOL...if during trump more than 2 manufacturing jobs were added for every government job, the blue line would obviously be above the red...

where on earth did you get that? oh wait "texas public policy foundation"...lets see who they are? well it does not say on their website LOL

https://www.texaspolicy.com/about/

so to recap:

-chart is wrong as shit
-source is anon

yeah...sounds legit...

astroturf republicans are so dumb they do not even know how to draw a chart :1orglaugh:1orglaugh:1orglaugh:1orglaugh

how funny is that?

answer: very very funny! :1orglaugh:1orglaugh:1orglaugh

Trumps tariffs have destroyed Obama's booming economy Trump inherited.

Trumpp does not care .... He is running the USAlike if it was his company that he inherited from the predecessor ... not his doing .

So he is very happy that tarrifs are bringing in 10's of billions of dollars ...
His thinking , as a personnal business, is that before tarrifs that money was not coming in his coffers ... now it is . He has no issue whom pays for it, just that it is coming in .

If it was the chinese paying, he would be ok with that ; as it is the americans paying for it ( lower & middle class) he is still very OK with that as it is coming in HIS coffers ....

AS long as he was not paying for it, it is all good ...

Too bad for the idiots that votes for him to get a tax rebate : they got DP ....