'This isn't winning':Wall St Journal batters 'master negotiator' Trump for plunging US into trade...

[DonViejo]

‘This isn’t winning’: Wall Street Journal sarcastically batters ‘master negotiator’ Trump for plunging US into trade war

TOM BOGGIONI
07 JUL 2018 AT 08:17 ET

As the trade war with China — caused by tariffs demanded by Donald Trump — heats up, the editors of the Wall Street Journal have taken the president to task, sarcastically mocking him as a “master negotiator” who has yet to negotiate any deals while causing damage to the U.S. economy.

Under the snippy headline”So much trade losing,” the lead editorial compared the Trump trade war to the start of Civil War that led to nothing but tragedy for the rebels of the South.

“The shooting has begun in the U.S.-China trade war, and let’s hope it’s not Fort Sumter,” the piece began. “The South figured the Civil War would last a few weeks, but things happened. That’s the nature of trade wars as well, and while no one is likely to win this confrontation, both sides could certainly lose.”

Noting the launching of Trump’s tariffs with the U.S. “imposing tariffs of 25% on $34 billion of Chinese imports, and Beijing retaliated on an equal value of U.S. goods,” the Journal said the war has already battered soybean farmers deep in Trump country, as well as a wide range of U.S. products.

“The damage is already serious for American soybean farmers whose biggest customer is China. They now face a 28% tariff while competitors in Brazil and elsewhere pay no duty. The cash price for U.S. soybeans recently fell to its lowest level in about a decade,” they wrote. “Producers of beef, pork, chicken and seafood will also take a hit. U.S. automakers, which will now pay a 40% tariff after it had recently fallen to 15%, will lose sales of highly profitable SUVs that are increasingly popular with Chinese consumers”

“Meanwhile, American consumers will pay more for cars and health care due to U.S. tariffs on Chinese-made auto parts and medical instruments,” they continued. “For example, world-leading semiconductor companies are upset that chips made in the U.S. and sent to China for assembly or testing will face a high tariff on their total value when they return. Some firms may cut China out of their supply chain, but in other cases it will make economic sense to move U.S. production overseas.”

The opinion piece went on to point out that Trump is hurting his own base while killing jobs.

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more
https://www.rawstory.com/2018/07/isnt-winningwall-street-journal-sarcastically-batters-master-negotiator-trump-plunging-us-trade-war/

[dalton99a]

1. They're trying to dissociate themselves from the carnage to come

[Squinch]

2. The way the market is behaving, the financial community does not yet believe the tarriffs will

happen.

[yallerdawg]

4. The market always behaves counterintuitively.

Just before the worst imaginable stuff happens.

The market is a lagging indicator. Watch a gambler at the casino just before he loses everything.

[Squinch]

5. That's what I'm thinking. I took my money out in February and

so far I haven't lost anything. I suspect in a few months I'm going to be glad I did.

[yallerdawg]

7. Investors have to know the history. R stands for Recession.

Who said, "The second time a mule kicks you in the head you learn nothing?"

[yallerdawg]

3. It's dawning on the enablers.

They made a big mistake giving the Dotard credibility.

The biggest lesson we learned?

Vote like it matters! They do.

[Yavin4]

6. The true price of those tax cuts

Everything else goes to shit.