Trump's tariffs on $300 billion Chinese goods

Jun 2013
1. The surprise tariffs President Donald Trump announced Thursday on $300 billion or so of Chinese goods takes the trade dispute between the two countries to a new level, even though in dollar terms it doesn’t amount to a whole lot.

The president’s announcement jolted markets, which had bounced back sharply off Wednesday’s disappointing Fed rate cut only to have their legs cut out from underneath them by news of a heightened trade war....

2. As the election campaigns heat up, Donald Trump is obviously running out of time to wait for China to accede to his demands. His latest tariff move against China is the clearest sign of desperation in his bid to remain another term in office. Using an analogy in my previous post, a psycho is getting increasing impatient after waiting a long time for the local anesthetic to take effect on his victim in the torture chamber.

Without testing for numbness of his victim's gum tissue, the psycho is dragging his victim all the way to the dental chair to extract all his remaining teeth.

3. At first China seemed to be unsure how to deal with the failed business-turned mercurial president. As time goes on, China is becoming more experienced and confident in dealing with Donald Trump after realizing that he is bent on destroying the Chinese economy. China has many ways to hit back at the US such as:

(a) Ban all Chinese tourists to the US.

Spending by Chinese visitors — which doesn't include students — ballooned more than 600% between 2008 and 2016, to nearly $18.9 billion. In 2017, that fell by 1% to $18.8 billion, or about 12% of overall tourism spending.

(b) Ban all Chinese students from studying in "American for-profit education companies" such as the now-defunct Trump University.

Chinese students make up one-third of the total international body in the US and pay significant sums to study at top institutions.

The amount Chinese students and their families contribute to the US economy is estimated to have been $13 billion in 2017-2018, a figure that includes tuition fees and living expenses, according to NAFSA: Association of International Educators.

However, there is growing pressure in the US to place restrictions on foreign students, particularly Chinese, amid tensions between the two countries over a range of issues, most prominently trade.

The US government has been targeting specific groups of students or academics who they feel pose national security risks or are involved in alleged intellectual property theft.

As reported on 8 August 2018 by Politico, at one point during the dinner, Trump noted of an unnamed country that the attendee said was clearly China, “almost every student that comes over to this country is a spy.”

P.S. As the psycho tries to extract all the teeth of his victim in the torture chamber, it is high time for the victim to drag the psycho to the dental chair too.

An eye for an eye and a tooth for a tooth. :)