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China trade deficit surges by 17% to 12 year high

Discussion in 'Too Hot for Swamp Gas' started by WarDamnGator, Jan 14, 2019.

  1. WarDamnGator

    WarDamnGator GC Hall of Fame

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    Everything Trump touches dies ...

    Despite U.S. President Donald Trump launching a high-stakes trade war against Beijing last year, China on Monday announced that its 2018 trade surplus with Washington was its largest in more than a decade.

    China’s surplus with the U.S. grew 17 percent from a year ago to hit $323.32 billion in 2018, according to government data. It was the highest on record dating back to 2006, according to Reuters. The deficit that the U.S. has with China is likely even bigger than these figures indicate since China calculates the numbers using different methods, sometimes excluding goods that end up in the U.S. via other countries.

    Exports to the U.S. rose 11.3 percent on-year in 2018, while imports from the U.S. to China rose a meager 0.7 percent over the same period.


    CNBC: US trade deficit with China grows to a record and it's likely even worse than the data shows
     
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  2. staticgator

    staticgator All American

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    It’s almost like Trump is working for someone who wants to make the US worse off.
     
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  3. boligator

    boligator All American

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    Hmmmmmm...wonder who that could be (russian national anthem playing in background)......Hmmmmmm......
     
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  4. VAg8r1

    VAg8r1 GC Hall of Fame

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  5. gatorknights

    gatorknights GC Hall of Fame

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    Well, he does know more about military stuff than all the generals so it stands to reason. I know this for a fact because he said so. That I can tell you, believe me.
     
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  6. boligator

    boligator All American

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    Well.....he is a stable genius...he said this too...so it has to be true. (Pssst...he knows more about drones that everybody too...said it the other day...gotta be true)...
     
  7. grumpygator77

    grumpygator77 All American

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    all trump's BS is coming home to roost.

    Let's see how long his fan club still defends his stupidity.
     
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  8. gatorchamps0607

    gatorchamps0607 Always Rasta Premium Member

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    I have been wondering more and more if Trump was pushed into power to make America scared chitless to ever elect a non career politician into office. Kind of like a "see this is what you get" reminder that forces everyone to go back to being happy with the status quo of career politicians becoming the puppet.. err President.
     
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  9. gatorknights

    gatorknights GC Hall of Fame

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    Yep, because everybody knows that the less training, education and experience one has in a particular field makes them soooo much more qualified than the ones with more. Right???? :cool:;)
     
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  10. gatorchamps0607

    gatorchamps0607 Always Rasta Premium Member

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    Well, I don't think being a politician necessarily qualifies you for being a president. Maybe on the side of playing politics with the other party but as far as running a country I don't think they have to go hand in hand. I don't know the exact breakdown of what experience a civilian would need but I would suspect plenty of people have the knowledge and experience to run a country or can hire the right people around them to help. Now Trump was absolutely the wrong person for the job and his companies history proved that before getting into office but even with politicians nobody really cares about their past failures.
     
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  11. gatorknights

    gatorknights GC Hall of Fame

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    Except when it's about the "other team". Our team can be as worthless and sorry as they can be, but if the other team so much as wears a tan suit, they are completely corrupt, inept and unfit. Right??
     
  12. gatorchamps0607

    gatorchamps0607 Always Rasta Premium Member

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    Exactly, this is why I don't root for either team. The two party system doesn't work. I'm hoping a Libertarian can get equal ballot access at some point to at least have a third (legit) option available.
     
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  13. Gatorrick22

    Gatorrick22 GC Hall of Fame

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  14. gatorknights

    gatorknights GC Hall of Fame

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  15. VAg8r1

    VAg8r1 GC Hall of Fame

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    The problem with the increased trade imbalance isn't that we're importing more; it's that we're exporting less. Just ask farmers who produce soybeans and to add insult to injury, Trump promised them $12 billion in relief from the consequences of his trade war but thanks to his government shutdown they are currently unable to access that relief.
    The ongoing shutdown could affect emergency aid to help farmers outlast Trump's trade war
     
  16. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    Huge difference between wall Street and main street... Main street is just fine.
     
  17. AzCatFan

    AzCatFan GC Hall of Fame

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    Main street is starting to suffer from the trade war. China is doing just fine. From the article:

    But, small business owners who import to or export from China are about twice as likely as everyone else to view China favorably (59 percent vs. 27 percent). This divide has nothing to do with partisanship: the two groups have nearly identical proportions of Republicans and Democrats.
    Instead, they're likely to be working in industries that are directly affected by these tariffs. In the retail trade industry, for example, about a third (32 percent) of small business owners say they do business with China, and they expect their businesses to take a hit thanks to trade policy by a 20 percentage point margin (34 to 14 percent). On the other hand, just six percent of small business owners in the finance and insurance industry work with China, which helps explain why a majority (63 percent) expect no effect on their business thanks to trade policy in the next year.

    As the Trump administration continues to escalate its tariffs on Chinese goods, the effect will extend all the way to Main Street. Those who will be impacted are looking ahead to 2019 and seeing very preventable trouble, wondering why they're paying the price for a trade war far away.
     
  18. WarDamnGator

    WarDamnGator GC Hall of Fame

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    The problem with Trump's stupidity is that China seems to have more options to go elsewhere to find what we used to export to them, like produce, meat and raw materials ... which can be farmed, raised, and mined in other countries. China has hinted at Canceling Boeing orders and they have other options there. There are plenty of other countries that make cars.

    For China, we not going to give up our Iphones, Nikes, Tvs and all the other stuff lining the shelves at Walmart ...

    So it seems like the ones who are going to suffer the most are the American Consumer who get the costs the tariffs passed on to them, and the American producers who are getting shoved out the export market ... Way to go, Trump. I'm tired of the winning.
     
  19. oragator1

    oragator1 Premium Member

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    I have no doubt Trump is driving with his eyes closed, but not sure we should just take China’s word for it either.
     
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  20. gatorpa

    gatorpa GC Hall of Fame

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    The humming economy has created more demand....where do we get our junk from....China, stands to reason we would be buying more with near record low UE...

    Don't forget China is slowing thus they have less demand....


    Despite a near 20% fall in the US stock market between October and last month, some investors believe there are reasons for hope. They think Beijing might blink first in talks because the Chinese have much to lose by maintaining their objections to President Trump’s demands over trade imbalances, market access and alleged abuses of intellectual property.

    Beijing has downplayed the impact of extra tariffs on around £200bn of Chinese imports into the US. But the evidence from businesses and commentators inside China is clear: the dispute is hurting. And Trump’s threat to impose tariffs on almost $300bn of extra imports in March, including a 25% charge on imported cars, would be catastrophic.

    “China’s economy was already set to slow in 2019, but the trade dispute has added to it another set of intense pressures,” said Shehzad Qazi, managing director of China Beige Book International, an analysis firm that specialises in the Chinese economy.

    China’s exporting regions in the south have felt the impact most. “While it would be a mistake to attribute this primarily to the trade war, the severe deterioration in foreign orders, especially in the export-sensitive Guangdong region, stands out as a stark example of the pain the tariff war is already causing. If tariffs escalate further after 1 March, the added pressure on the Chinese economy will prove excruciating,” Qazi said.
    China feels the squeeze of Trump’s trade war as more tariffs loom

    China will blink and we will get a better deal than before, everyone screams for "free trade" we don't have thast, we get the short end on everything.
     
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