Stock market has already been a mess thanks to the trade war threat. If you support trade war escalation, what do you expect to gain?
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- Microsoft Dial_Me_iNot an American resident, but I think de-industrialization of the US is harming the country. What's the point of supplying jobs and technologies overseas? That leads only to hyper-profits of Apple and the likes. Phones are not getting cheaper, Apple execs are getting wealthier. Midwest America becomes poor as a result, and the US can't even build electronics without factories in China. This is a robbery of Americans.
- Let's say we raise 40% of tariff on China and Apple now moves the factory to Vietnam. What's the next step? Put 40% tariff on Vietnam as well as all other countries in the world? You don't think America should be a capitalist country and American companies should have the freedom to choose where to make their products?
- Bloomberg / EngBerner69moreWe could also retrain all those workers to do things other than coal mining, auto manufacturing, or whatever jobs they currently have that are being displaced. For example, there are about 30,000 renewable energy jobs in Iowa compared to 50,000 coal mining jobs nationally.
- Oath BootleggerIt is fake news calling it trade war. China is taking advantage of US and quietly screwing us for years. I dislike trump but i am happy he is pushing back on china. No one should do any business with China.
- Enforcing environmental protections means moving plants to another country, which is what the US did to China in past 20 years. China has started to enforce strict environmental regulations and factories are gradually being move to other South East Asian countries. We will see US will pick fight with SE Asian countries in next 20 years.5d1
- Orlando Health BoondockIt's not really a trade war. That was a term coined by the media to instill fear. It's a renegotiation of trade agreements. It is not fair for China to tax us at higher rates for imports than we tax them. Like it or not, China is a world power. This is not big bad America picking on the little kid at the playground. China has exploited this agreement a long time. When given the numbers, I think most people would agree that renegotiations are needed. It may suck for the short term with the stock market but would be better in the long term. I'd be more concerned about GDP as an indicator vs the Dow. Unfortunately, it is Trump that is doing the renegotiations and people automatically assume it must be bad. Insert any other name and I'm sure your voting metric would look different. Btw. I voted other... I'm neither a Trump supporter or anti Trump. Lock him up or let him work, don't really care.
- Over the long term, the current situation is unsustainable. American standard of living is being elevated over the short term through improved purchasing power from the inflow of cheap goods.
Eventually, the situation has to reverse, and we will have a lower standard of living. The problem is if we wait too long, we will give one generation a great lifestyle but all subsequent generations will pay for it.
Even Warren Buffet says this. It can’t go on forever, so it’s better to make a decision about it rather than waiting for it to end.
This is the start of a new Cold War.