US products that China is planning to hit with tarrifs

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earendel
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Re: US products that China is planning to hit with tarrifs

#26 Post by earendel » Thu Jul 26, 2018 1:20 pm

silverscreenselect wrote:
flockofseagulls104 wrote: It seems to be working out as trump believed it would, at least with the European Union.

Let's hope the negotiations work out well, and that it works the same way with the rest of the world.
Of course, if Trump or any U.S. president had simply suggested opening trade talks with the European Union without the huffing and puffing and slapping on tariffs, we could have accomplished the same thing several months ago without all the grief and nonsense Trump always puts us and his allies through.

And given Trump's track record in negotiations, whatever eventual deal that gets worked out will undoubtedly be billed by him as a huuuuuuge win and by objective analysts as another bad deal for the U.S.
It's not entirely clear what will come out of the deal. The decision not to levy any new tariffs is a win for both sides. The statement that Europe would buy more soybeans is hard to understand since the EU doesn't purchase overseas commodities. And buying more liquefied natural gas doesn't specify whether the EU would build new terminals to accommodate the cargo ships above those already planned. The one thing that does look like the best part of this agreement is the plan to reform the World Trade Organization.
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Re: US products that China is planning to hit with tarrifs

#27 Post by flockofseagulls104 » Thu Jul 26, 2018 2:01 pm

silverscreenselect wrote:
flockofseagulls104 wrote: It seems to be working out as trump believed it would, at least with the European Union.

Let's hope the negotiations work out well, and that it works the same way with the rest of the world.
Of course, if Trump or any U.S. president had simply suggested opening trade talks with the European Union without the huffing and puffing and slapping on tariffs, we could have accomplished the same thing several months ago without all the grief and nonsense Trump always puts us and his allies through.

And given Trump's track record in negotiations, whatever eventual deal that gets worked out will undoubtedly be billed by him as a huuuuuuge win and by objective analysts as another bad deal for the U.S.
So, why didn't they? Get some help.
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Re: US products that China is planning to hit with tarrifs

#28 Post by silverscreenselect » Thu Jul 26, 2018 3:27 pm

flockofseagulls104 wrote:
So, why didn't they? Get some help.
The US has been in negotiations with the European Union on and off for five years on a comprehensive trade agreement. The difference is that Barack Obama did not go around bellowing and threatening the way Trump did. The "agreement" that was reached today was apparently an agreement to suspend the tariffs and resume negotiations, in other words go back to where things were before Trump started slapping on tariffs. As usual with Trump agreements, there are few specifics.
"The real winner here would appear to be the European Union. The U.S. auto tax threat was reversed in exchange for nothing that means anything," Paul Donovan, chief economist at UBS Global Wealth Management said in a note Thursday morning.According to Donovan, even though the EU promised to buy more soybeans, it doesn't actually have the power to force European farmers to purchase more from the United States. "The U.S. is already the largest exporter of soybeans to the EU. There are no subsidies, trade taxes or quotas on soybeans in the EU. Private farmers decide whether to buy more soybeans or not," he said.
https://www.cnbc.com/2018/07/26/us-eu-t ... china.html
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Re: US products that China is planning to hit with tarrifs

#29 Post by Bob78164 » Thu Jul 26, 2018 3:30 pm

silverscreenselect wrote:
flockofseagulls104 wrote:
So, why didn't they? Get some help.
The US has been in negotiations with the European Union on and off for five years on a comprehensive trade agreement. The difference is that Barack Obama did not go around bellowing and threatening the way Trump did. The "agreement" that was reached today was apparently an agreement to suspend the tariffs and resume negotiations, in other words go back to where things were before Trump started slapping on tariffs. As usual with Trump agreements, there are few specifics.
"The real winner here would appear to be the European Union. The U.S. auto tax threat was reversed in exchange for nothing that means anything," Paul Donovan, chief economist at UBS Global Wealth Management said in a note Thursday morning.According to Donovan, even though the EU promised to buy more soybeans, it doesn't actually have the power to force European farmers to purchase more from the United States. "The U.S. is already the largest exporter of soybeans to the EU. There are no subsidies, trade taxes or quotas on soybeans in the EU. Private farmers decide whether to buy more soybeans or not," he said.
https://www.cnbc.com/2018/07/26/us-eu-t ... china.html
If this is good news, I'd expect the futures price of soybeans to increase from its current disastrous level of $8.50 or so. So we'll find out soon enough what the market (i.e., people whose livelihoods depend on getting this stuff right) thinks. --Bob
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Re: US products that China is planning to hit with tarrifs

#30 Post by Bob Juch » Thu Jul 26, 2018 5:57 pm

Bob78164 wrote:
silverscreenselect wrote:
flockofseagulls104 wrote:
So, why didn't they? Get some help.
The US has been in negotiations with the European Union on and off for five years on a comprehensive trade agreement. The difference is that Barack Obama did not go around bellowing and threatening the way Trump did. The "agreement" that was reached today was apparently an agreement to suspend the tariffs and resume negotiations, in other words go back to where things were before Trump started slapping on tariffs. As usual with Trump agreements, there are few specifics.
"The real winner here would appear to be the European Union. The U.S. auto tax threat was reversed in exchange for nothing that means anything," Paul Donovan, chief economist at UBS Global Wealth Management said in a note Thursday morning.According to Donovan, even though the EU promised to buy more soybeans, it doesn't actually have the power to force European farmers to purchase more from the United States. "The U.S. is already the largest exporter of soybeans to the EU. There are no subsidies, trade taxes or quotas on soybeans in the EU. Private farmers decide whether to buy more soybeans or not," he said.
https://www.cnbc.com/2018/07/26/us-eu-t ... china.html
If this is good news, I'd expect the futures price of soybeans to increase from its current disastrous level of $8.50 or so. So we'll find out soon enough what the market (i.e., people whose livelihoods depend on getting this stuff right) thinks. --Bob
That's a drop in the bucket compared to the ones China isn't buying.
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