As neo-fascist demagogue and sociopath Donald "Chosen One" Trump flies off to disrupt the G7 meeting in Paris this weekend and to do Putin's bidding, China has announced $75 billion in new tariffs on U.S. goods in retaliation for Trump's imposition of $300 billion on Chinese goods to take effect on September 1 and December 15. The new tariffs will hit U.S. manufactured autos and auto parts, along with other goods.
Talks between the U.S. and China broke down in July, and Trump has suggested that U.S. industries, notably manufacturing and agriculture, would have to bear economic hardship under his trade war. Trade will be a major topic of the G7 meeting, as Trump's policy to impose tariffs on U.S. allies is threatening their economies.
BONUS: The Very Stable Genius/ "Chosen One" is coming unglued, part infinity:
....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?— Donald J. Trump (@realDonaldTrump) August 23, 2019
Seen pictorially --
(Attribution: democraticunderground.com)
UPDATE: Of course, the news has sent the Dow Jones tanking, which should send the Very Stable Genius into another tailspin.
UPDATE II: The Very Stable Genius doubles down, imposing higher tariffs on China (by tweet, of course).
2 comments:
B-b-but trade wars are easy to win! Trump is the Chosen One to handle the tariffs with China, is he not? So how far are we going to let things go until the battle ends? I'm glad we bought our van last year, before the auto industry starts compensating for the losses. But the tariffs will affect all of us if he doesn't make a deal. And even if he does, odds are that he's going to end up getting us screwed in the deal.
idiot!
donnah -- He went into the trade war like he does everything else: recklessly and without a strategy other than bullying. The tariffs have already hurt farmers and manufacturers, and the only upside is that he'll lose votes in 2020 as a result.
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