China reacts: Trump
makes more threats that may top $500 billion
Trump is eyeing tariffs on another $16 billion of
Chinese goods, and he indicated last week that the final total could surpass
$500 billion.
Now the impact…!!!
Trump’s trade war hits hard
at home and in China:
The victims list is growing
out of sight
Introduction: As expected and of course, China’s
retaliatory tariffs on U.S. goods struck one of its biggest meat importers that
was rushing a shipment from California through Shanghai customs.
Suzhou Huadong Foods is saddled with a stack of
unaffordable American steak. Only three containers of frozen produce including
prime rib and pork loin came through before the new levy slapped as much as
500,000 yuan (additional $75,000) on each of the remaining half-dozen crates,
according to Gong Peng, importer general
manager who said: We have no choice. We have to eat the costs. We are guaranteed to dramatically lower our purchases of meat
from American ranchers.”
More impact:
Trump’s course of action only means more U.S.
companies will lose out in China as the country opens up, the People’s Daily,
the Communist Party’s flagship newspaper, said in a commentary on Monday.
The
zero-sum mentality of U.S. policymakers will not only hit economic and trade
cooperation between China and the U.S., but also brings further uncertainty to
the world economy, it said.
With neither side backing down, the prospect of a tax
on almost every China-made product entering the U.S. and reprisals by China
means many more businesses could come in the cross hairs.
Jacob Parker, vice
president of China operations at the U.S.-China Business Council says: “At this stage, the biggest impact
is probably uncertainty, which is already having an impact. Businesses hate
uncertainty. If you are uncertain, you don’t invest; if you are uncertain, you
don’t hire. Companies don’t know how big this may get, or how it will end.”
Ding Hongliang, founder
of the Qingdao-based Hemp Fortex Industries company. His company is a maker of clothing and natural
fabrics — and a supplier to U.S. and European brands. He says he can’t wait. He
says he is seeking to move manufacturing outside China. More than half of the
company’s revenue comes from American customers, however, potentially exposing
them to any future U.S. tariffs on China-made goods.
He adds: “Our big clients now are very actively discussing with
us on how to shift more production from China to Southeast Asia. The U.S. is a
great market that cannot replaced by anywhere else.”
Impact on things ranging from steak (now stuck on the
docks in China); many other farm products; cars, trucks, and auto parts; and all
sorts of toys and clothing; and appliances, etc. The list is very long and grows daily it seems.
My 2 cents: Refer
back to the article for more details on this widening tariff war and the serious
and perhaps forever broken relations invoked by the madman of America: Donald
J. Trump.
Then ask all the die hard Trump loyalists
this question: “What do you think now about the best businessman in the world? Or does the con please you and the policy is okay, or maybe you trust him, and really don’t care?”
I conclude that all of those things
are probably true.
Just listen to Trump loyalist’s feedback when asked about
him and his policies around the globe. They will parrot what he says like good
puppets. I wonder if they know or even understand what the opposite of “make us
great again” is. Like awful, disrespected, even hated or greatly gross.
Whatever label fits, no matter. What
we see is not the America I know and care for or want to see for future
generations – it will take hard work to reverse the course Trump has us on here
at home and worldwide. A fact.
Thanks for stopping by.
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