The Truth on Tariffs...

Distant Lover · Jul 12, 2018

stumbler said: ↑

Volvo may cancel 4,000 worker job expansion in Trump-friendly South Carolina after being rocked with tariffs: report
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Unlike Trump, our trading partners are not impulsive. They are crafting their response to the trade war Trump is provoking by targeting Trump supporters.

tenguy · Jul 12, 2018

Do the words: may; might; could; perhaps; maybe; perchance; conceivably; etc. mean anything to you guys? Those words do not me: will, definitely; certainly; assured; doubtless; firm; guaranteed.

Anything can happen, and by the time the game has ended, all thing will happen as they may. Blind speculation is the work of fools.

shootersa · Jul 12, 2018

tenguy said: ↑

Do the words: may; might; could; perhaps; maybe; perchance; conceivably; etc. mean anything to you guys? Those words do not me: will, definitely; certainly; assured; doubtless; firm; guaranteed.

Anything can happen, and by the time the game has ended, all thing will happen as they may. Blind speculation is the work of fools.
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Yup. all sides are posturing and bloviating and making threats. Doesn't mean much until one side or the other, or both, blink.

Sanity_is_Relative · Jul 13, 2018

JimmyCrackPorn · Jul 13, 2018

Distant Lover said: ↑

My data on jobs created per year comes from The Wall Street Journal. Have you ever heard of The Wall Street Journal? That's a serious question. It is the leading conservative and Republican newspaper in the United States.

How did Jimmy Carter destroy jobs? Why were more jobs created per year under Carter than Reagan?

The number of factory jobs in the United States was higher under Jimmy Carter than under any other president. The number of factory jobs began to decline under Ronald Reagan. Nevertheless, the value of factory production in the United States has continued to increase. This is because factory workers are being replaced with robots who can do what factory workers do better and less expensively. Even so, the number of factory jobs in the United States increased under Obama from 2010 to 2014.

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I'm still chuckling over this one.

Hush · Jul 13, 2018

JimmyCrackPorn said: ↑

I'm still chuckling over this one.

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What, like coal? How about you alakazam us some numbers Bullwinkle... or do you got nothing up your sleeve?

Hush....an alias

stumbler · Jul 13, 2018

‘Our pleas have fallen on deaf ears’: Michigan farmers who supported Trump blast tariffs destroying their livelihoods

In an interview with farmers in Michigan who are seeing the agricultural tariffs imposed by President Donald Trump possibly destroy their livelihood, the Detroit News reports they can’t even get their congressional representatives to stand up for them.

According to David Williams, a fifth-generation soybean farmer in Elise, Michigan, the 25 percent tariff imposed by China in retaliation for the president’s tariffs is killing the agricultural sector.

“Nobody wins in a trade war,” said Williams, he 67-year-old president of the Michigan Soybean Association. “We’re not going to win. China’s not going to win. In the meantime, soybean farmers are just hurting.”

According to the report, “With farm net incomes down nearly 60 percent since 2013, many farmers who supported the president in 2016 are feeling further strain as they face the repercussions of an intensifying trade war. The price of soybeans has plunged 17 percent in the past month. Williams has seen $2 less per bushel of soybeans, about a 20 percent decrease.”

Williams pointed the finger directly at President Donald Trump, who he believes was put in the White House by rural mid-westerners like himself.

“I feel like agriculture has supported the current administration,” Williams explained. “I don’t feel that support coming back to us.”

According to Williams, Trump’s tariffs were put in place over disputes over intellectual property, and that the retaliatory Chinese tariffs have turned farmers into collateral damage.

“The farmers didn’t do it,” Williams said. “We’re the bright spot in the economy.”

He went on to explain that declining farm income means less money to be spent on new equipment which will have a ripple effect on the manufacturing sector.

Worst of all, Williams says that, after a visit to Washington D.C. to meet with lawmakers and White House officials, farmers’ worries are being ignored.

“So far,” he lamented, “our pleas have fallen on deaf ears.”
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shootersa · Jul 13, 2018

Well, not the farmers and ranchers who voted for trump.
As noted, soy bean (and corn and wheat) futures are strong.
Yet another case of stumbles posting biased, sometimes outright lies, bullshit he manages to dredge up from ....... somewhere.

BigSuzyB · Jul 13, 2018

CHICAGO, July 13 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Friday, with soybean futures ending at record lows amid ongoing China-U.S. trade frictions.

BigSuzyB · Jul 14, 2018

I think what the plan for us will be to let Brazil supply China with Soybean till their stock runs run low in the fall and then sell our late harvest to China as well.
Then we may both buy what we need from the U.S.

Truthful 1 · Jul 14, 2018

I don't know the plan but please don't feel sorry for farmers. They will be fine. I Live in one of the biggest farming States . actually the blueberry capital of the world and cranberries and soybean and corn and potatoes and tomatoes we grow it all here peaches apples everything . farmers can't lose . They are so subsidized by the government And they all have plenty of crop insurance there's no farmers hurting where I live at all ever . And sorry to say most of th farms out west are owned by big ccorporations. They will all be fine.

Truthful 1 · Jul 14, 2018

My bad I miss read lol.

Rixer · Jul 14, 2018

Whew.... I was getting worried I wouldn't get a soybean futures report this morning. Thanks guys!
You gotta love this place.

Sanity_is_Relative · Jul 15, 2018

stumbler · Jul 15, 2018

North Dakota farmers lash out at GOP over Trump’s crippling trade war with China: ‘The most scared I’ve ever been’

Farmers are reporting economic anxiety over President Donald Trump’s escalating trade wars as the midterm elections approach, The Bismarck Tribune reports.

China imposed a 25 percent soybean tariff as a retaliatory measure against Trump’s trade policies.

“Right now, I am the most scared I’ve ever been as to where the future of farming is going,” explained Randy Richards, the Steele County president for the North Dakota Farmers Union.

In 2016, Trump received more than twice as many votes as Hillary Clinton, besting her 63 percent to 27 percent.

While considered a reliably Republican state, chaos in the agrictulural industry may give a boost to Sen. Heidi Heitkamp (D-ND) in North Dakota’s 2018 U.S. Senate race.

Sen. Heitkamp is being challenged in the November election by Rep. Kevin Cramer (R-ND).

“Cramer boasts about (how) he votes with the president all the time. I don’t think that’s good for North Dakota,” said Richards, who said he didn’t vote for Trump in 2016.

North Dakota exports over $1.4 billion in soybeans to China — which slapped a 25 percent tariff on soybeans.

Cramer, the Republican congressman challenging Heitkamp, has called for a “safety net plan” for farmers harmed by the GOP president’s policies.

In Minnesota, a former Trump supporter slammed the trade war.

“This isn’t just numbers on a sheet or percentage of trade or dollar value,” Michael Petefish, a Trump-backing farmer, told CNN. “This is multi-generational American families, your base, that you are now squarely putting into financial peril.”
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Distant Lover · Jul 15, 2018

stumbler said: ↑

North Dakota farmers lash out at GOP over Trump’s crippling trade war with China: ‘The most scared I’ve ever been’
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The leaders of China are not ignorant and impulsive like Trump. They are carefully crafting their response to his trade war so that it will hurt his supporters.

Distant Lover · Jul 15, 2018

Hush said: ↑

What, like coal? How about you alakazam us some numbers Bullwinkle... or do you got nothing up your sleeve?

Hush....an alias
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The right wing bully boys of XNXX have no response to the Master's Facts but snide comments, insults, and obscene words.

stumbler · Jul 15, 2018

'No running or hiding': Trump's trade war starts to hit Texas consumers

WASHINGTON — For a consumer’s guide to President Donald Trump’s trade war, just take a trip to the local appliance store.

Pocketbook pain that comes from ever-widening tariffs can already be measured there on the showroom floor, now that the president’s earlier decisions to impose import levies on washing machines and two key metals have had time to ripple through the economy.

It begins with laundry equipment, which saw a 19 percent price spike in the U.S. over the last three months. But it doesn’t end there, with grills, refrigerators and oven ranges also running hot.

“There’s no running or hiding,” said Daniel Pidgeon, chairman of Starpower, a North Texas retailer that’s received price increase notices from several manufacturers in the levies’ wake.

That cycle could be instructive as Trump has now put tariffs on tens of billions of dollars more in goods — and threatened to ultimately enact duties on hundreds of billions of dollars’ worth.

Tariffs on products imported into the U.S. are taxes paid by American businesses and consumers. Each escalation puts household budgets in Texas and beyond in line to come under increasing strain, even before accounting for the retaliatory levies doled out by China and others.

But when will the wallet wallop be felt in full? And where? And by how much?

Those questions aren’t easy to answer with precision, experts said, though economists at Princeton University and the London School of Economics this week gave rough estimates that the levies already in effect would cost the average American household an additional $60 a year.

The reality is that tariffs, while imposing tangible costs, sometimes manifest themselves in ways that aren’t obvious.

The strong U.S. economy has likely papered over some of the levies’ drag. The White House has so far avoided duties on most consumer goods, though the lineup for pledged tariffs on $200 billion in Chinese products would hit handbags, speakers and other household items.

The consumer experience, in any case, is always relative.

A few extra pennies on an aluminum beer can isn’t likely to rattle someone at the bar. And while a couple hundred dollars more on a washing machine may produce sticker shock, shoppers may not purchase items like that often enough to be able to pinpoint the price spike.

“That’s the thing about tariffs that makes them, politically, fairly tenable,” said SMU Cox School of Business professor Michael Davis, who said even his own wife didn’t believe him that their recent washing machine purchase was likely more expensive due to the levies.

Trump’s trade tactics are creating a tizzy in Washington, in the heartland and across the globe.

The president makes no apologies for turning the tables on countries — and not just China — he says have been “ripping us off for years.” He explains that he’s simply taking substantive action to obtain better trade deals. He promises there will be a big payoff for American workers.

But alarm increases with every tit-for-tat exchange, particularly in a trade-heavy state like Texas.

Both Republicans and Democrats in the Lone Star State have ramped up their criticism in recent days over the White House’s trade approach, with the concern focusing on the potential for lost jobs, decreased investment and diminished export markets.

Take the dueling tariffs that went into effect this month between the U.S. and China on a combined $68 billion in goods. Retaliation from Beijing — which took aim at cotton, grain sorghum and other crops critical to Texas’ agriculture industry — means that the overall payback to Trump’s trade actions from across the globe now covers billions of dollars in Texas exports.

"I understand that our trading partners have more to lose than we do because their economies are far more export-dependent," Rep. Jeb Hensarling, R-Dallas, told Treasury Secretary Steven Mnuchin on Thursday. "But losing less is not the same as winning more."

That trade equation also includes consumer prices.

But to see the dynamic in the real world means looking back to the first of the year, long before a global trade war seemed a likely possibility. That’s when the U.S., citing harm suffered by U.S. manufacturers, imposed tariffs of up to 50 percent on imported washing machines.

Data from the U.S. Labor Department tell the rest of the story. Laundry equipment prices have jumped in recent months, reaching levels not seen since 2015. It’s not just on machines from South Korean makers LG and Samsung, either. U.S.-based Whirlpool in April also increased prices.

Indeed, that’s sometimes the point.

“It’s basic economics,” said Scott Lincicome, an adjunct scholar at the Cato Institute, a libertarian think tank in Washington. “Domestic producers are going to raise their prices to whatever they can get away with in the market.”

Trump’s steel and aluminum tariffs, which started going live this spring, offer another angle on the potential consumer impact.

Prices in the U.S. for steel, a key input for so many businesses, has increased in recent months. Texas companies can already see the effect on their balance sheets. Just ask Baytown-based Borusan Mannesmann Pipe, which makes products used in large oil and gas pipeline projects.

The manufacturer this month had the U.S. Commerce Department deny product exclusion requests on steel it imports from its Turkish parent company, despite a pledge to build an additional new plant in Texas — and hire more workers — if the exemptions went through.

Joel Johnson, the company’s U.S. CEO, said he’s hopeful the feds will reconsider. But in the meantime, the tariffs have cost the manufacturer $4 million and counting.

“It will cause a chain reaction,” he said, explaining that the company could be forced to pass along the added costs or make other tough decisions about its operating levels.

That kind of hit could wind its way through supply chains and factor into gas prices being higher than they otherwise would be, said Harvey Rosenblum, a former Dallas Fed research director.

Such an effect would be difficult to isolate, given all the economic variables involved. It would also take time for consumers to really feel the difference. But Rosenblum, who now teaches at SMU’s Cox School of Business, said the overall “trend is inescapable” when it comes to tariffs.

“Higher inflation,” he said. “Lower real wages.”

Trump administration officials have sought to play down that dynamic, with Commerce Secretary Wilbur Ross showing off cans of Campbell Soup, Coca-Cola and Budweiser to make the point that any additional costs from the metal tariffs end up being a few cents per serving.

But at Starpower, which also owns Ed Kellum and Son, Pidgeon simply has to ring up his purchasing department.

The company has received of late the price increase notification from Whirlpool — which, notably, would also be affected by the metal tariffs. But also ones from other appliance companies such as Bosch, Viking Range, Perlick and Bertazzoni.

An email from California-based Lynx Grills left no doubt about the reason about why it was upping prices 3 to 12 percent on Aug. 1.

“The upcoming steel tariffs have created an opening for the U.S. steel companies to dramatically raise their prices as well, so even though we exclusively use U.S. mined and refined steel, we are being impacted significantly and cannot absorb the raw material increases,” the email said.

If Trump’s trade conflict proceeds as threatened, that sort of response could become the norm.

The administration is investigating whether it should put tariffs on imported cars. The move would not just provoke backlash from a host of trading partners. It would also cause a Toyota Camry to cost $1,800 more, according to the company, whose U.S. headquarters are in Plano.

Then there are levies that Trump has lined up on more than $200 billion in Chinese products.

About half of the goods that the U.S. imports from China each year would be hit with duties. So while it’s not a global tariff — meaning imports from other countries, in some cases, could be substituted — the sweep would cover everything from cameras to hockey gloves to watches.

The prospect has already produced frantic pushback.

The National Retail Federation, which counts the likes of Plano-based J.C. Penney as members, said “such a broad scope of products makes it inconceivable that American consumers will dodge this tax increase as prices of everyday products will be forced to rise.”

Pidgeon, the Starpower chairman, said the bigger issue would be the “cascading effect of cumulative tariff costs being now a permanent part of the cost structure for these products.”

He said he remains “hopeful that the trade wars will be resolved,” particularly before the conflict really digs in on the consumer electronics that are Starpower’s bread and butter. But he said there’s no denying that the future has already started to arrive for price-conscious shoppers.

“It’s a consumer tax,” he said, noting that the costs would eat into any savings that Americans received from the tax overhaul Trump signed into law last year. “That’s the shame of it all.”
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stumbler · Jul 15, 2018

The Senate also voted 88-11 for a non-binding resolution to stop Trump from using national security as a rationale for imposing tariffs . Analysts are saying it was a test vote to see if they can override a veto. It’s unclear how many Republicans would hang tough if Trump actually bothers to veto the bill.

Distant Lover · Jul 16, 2018

stumbler said: ↑

The Senate also voted 88-11 for a non-binding resolution to stop Trump from using national security as a rationale for imposing tariffs . Analysts are saying it was a test vote to see if they can override a veto. It’s unclear how many Republicans would hang tough if Trump actually bothers to veto the bill.
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As long as Trump's tariffs hurt Trump's supporters I think the Democrats should make a lot of noise opposing the tariffs. Then they should sit back and try to conceal their smiles as Trump's tariffs hurt Trump's supporters.

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The Truth on Tariffs...

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