Looming trade war

[Tashyboy]

So Trump has gone on record and said he is gonna hit the Chinese, who he thinks has been robbing the USA for years. China said its gonna hit back. The stock markets have gone all jittery. Trump says he is gonna put the USA first.

Simple question, Has he got a point.

Tashyboy thinks he has.

just got back from the Far East, and whilst in Malaysia I was reliably informed the the Malaysians put 100% Tax on any car from Europe so as to dissuade people from buying them yet only 30% On Malaysian cars to promote the buying of them and to PROTECT MALAYSIAN JOBS. It is not the only thing that they do to protect Malaysia. The list goes on and on.

Re China they are the fake capital of the world, anything from clothes to Lego, Porsche and Range Rover. They have just given life presidency to Sum ova name or whoever he is on the basis of how wealthy he has made China over the last X years. Trump pulled out of the Paris agreement on the enviroment due to it massively being in China's favour( and others ). China has looked after itself for years to the detriment of others. They are not the only country. Yet when Pres Trump and others want to put USA and the U.K. First there seems to be an outcry.
What am I missing?
Thoughts please.

 

[IanM]

No, that's about it.

But school boy error of inferring minor agreement to something Trump might be thinking! Get the tin hat out!

 

[Leftie]

And there was me thinking that when asked, the majority of British people who could be bothered to vote decided that (for whatever reason) they wanted to put Britain first.

You couldn't make it up





Cue the Scottish contingent ......................:ears:

 

[Sharktooth]

So Trump has gone on record and said he is gonna hit the Chinese, who he thinks has been robbing the USA for years. China said its gonna hit back. The stock markets have gone all jittery. Trump says he is gonna put the USA first.

Simple question, Has he got a point.

Tashyboy thinks he has.

just got back from the Far East, and whilst in Malaysia I was reliably informed the the Malaysians put 100% Tax on any car from Europe so as to dissuade people from buying them yet only 30% On Malaysian cars to promote the buying of them and to PROTECT MALAYSIAN JOBS. It is not the only thing that they do to protect Malaysia. The list goes on and on.
.

It’s not just Malaysia and not just cars. Most SE Asian countries have 100% import duty on “luxury” items. I payed twice as much for my clubs here, than I would have done in UK. I thought of buying a Triumph Thruxton, but was quoted £21,000. Aye right pal.
The trade deficit the yanks have built up over the years with China is due to your typical sepoe expecting cheap, cheap imported goods and China not in the least bit interested in buying anything produced in the US.

 

[Lord Tyrion]

Trade wars are generally bad. Trump put 50% tariff on EU steel, EU puts 50% tariff on US agriculture. It goes on tit for tat, no one wins. What I find odd is why countries allow one way imbalances. Tashy gave the example of 100% tariff on cars from outside Malaysia yet I can guarantee that cars from Malaysia are not given a 100% tariff. Brazil put massive tariffs on aircraft to protect Embraer, Brazilian mfr, yet the EU does not reciprocate to protect Airbus. I don't understand that. Tariffs should go on both ways so no one country has an unfair advantage.

China have ridden the world for the last 10-15 years so I have no issue with Trump taking them on. Saying that most govts suck up and like Chinese imports as they keep their inflation figures low. Stuff jobs, companies surviving, inflation figures seem to matter more 😞😞.

 

[larmen]

China owns more US bonds than anyone else. They can kill the dollar in a week if they want.

 

[Lord Tyrion]

Having so much money tied up in dollars, that would be pretty foolish. It is one of those empty threats that get thrown out every so often.

 

[IanM]

What? Tariff wars end up "tit for tat?"

Crikey.... better tell them that in the Article 50 thread 😁