"Don't say we didn't warn you".

a reply to: anonentity

GM has great sales in China actually. The Buick line and Chevy sparks are selling very well over there.

a reply to: strongfp


Yeh why are they cutting jobs then? any way just popped in as it looks like the PPT will have their work cut out tomorrow.100 billion just got wiped off the futures, www.youtube.com...

China makes next move in trade war, reportedly halting US soy purchases

Chinese buyers of U.S. state grain have stopped ordering and don’t expect to resume the purchases due to the disagreement over trade between the world’s two largest economies, a Bloomberg News report said, citing people familiar with the matter. China currently has no plans to cancel previous orders, the report says. U.S. soybean farmers have taken a hard hit from the trade tensions and the Trump administration last week announced a $16 billion trade aid program for those impacted by retaliatory tariffs.

Maybe this was already discussed. It happened yesterday

www.cnbc.com...

I feel obligated to clear up some misconceptions here, since no one else has.

First and foremost, tariffs are placed on imported goods by the importing country.

That being the case, it makes absolutely no sense for China to place tariffs on rare elements they have. China is not importing them. If they are, they don't need to. If China wants to, they can raise the price of what they export, but that is not a tariff. And, it doesn't make much sense. Essentially, China would be saying, "We're upset that Americans will have to pay too much for our stuff, so we're going to raise prices on our stuff."

Second, tariffs have two purposes. One is to raise revenue for the government. It functions like a sales tax. Every country does it. It's one of the ways the US Government funded itself before income taxes.

The other is to protect national industries. Once again, every country does it.

Now let's examine the idea of tariffs as a form of economic warfare.

If you are not already engaged in an economic war with a country, then tariffs shouldn't start one. If country A places a tariff on product X from country B, it will not cost B any more to make or sell X. The principles of price, supply, and demand remain in effect. A will buy the X it demands. B will sell X to whoever wants to buy it at the price B asks. If B has a surplus of X they will either lower the price or produce less. It's that simple.

If you are already engaged in an economic war with a country, then tariffs are just plain stupid. What you want to use in an economic war are things like sanctions, embargoes, boycotts, etc.

originally posted by: Willtell
China makes next move in trade war, reportedly halting US soy purchases

Chinese buyers of U.S. state grain have stopped ordering and don’t expect to resume the purchases due to the disagreement over trade between the world’s two largest economies, a Bloomberg News report said, citing people familiar with the matter. China currently has no plans to cancel previous orders, the report says. U.S. soybean farmers have taken a hard hit from the trade tensions and the Trump administration last week announced a $16 billion trade aid program for those impacted by retaliatory tariffs.

Maybe this was already discussed. It happened yesterday

www.cnbc.com...

So the American public is having to foot the bill for the trade war?

And when we have to pay more for goods and can't afford the prices retail businesses will crash due to lack of customers.

I'm glad we are winning this trade war....cough.

a reply to: anonentity

They're cutting jobs because the market for mid sized sedans is basically done. And automation is taking jobs.

a reply to: Nexttimemaybe

So the American public is having to foot the bill for the trade war?

Only if they choose to. Last time I checked, there is no law that says someone has to buy Chinese goods.

And when we have to pay more for goods and can't afford the prices retail businesses will crash due to lack of customers.

Dude, really?

If China stops buying soybeans from us, two things will happen: our farmers will grow something else (corn, wheat, etc.) and that surplus will cause food prices to drop. At the same time, foods made with soybeans will have a surplus, so those prices will drop. The only place prices will rise will be China, because they are still paying more for their soybeans... if they could get them for less from another country, they already would have been doing so!

I'm glad we are winning this trade war....cough.

So am I... it's about damn time!

You should see a doctor about that cough... sounds nasty.

TheRedneck