US losses from Trump's China trade war will never be recovered, shipping data tells us CNBC

[orangecrush]

US losses from Trump's China trade war will never be recovered, shipping data tells us

"​The impact of this trade war and the opportunities lost by American businesses both large and small can not only be tracked by the public earnings reports, but through American exports.

And a deal, no matter what is agreed on, would never make up for the losses sustained during this trade war, according to calculations based on the decrease in volumes of containers, cargo and tankers that traveled into U.S. ports.

Dropping export volume
For a perspective on the losses, look no further than the Port of Los Angeles, the largest port in the country. U.S. exports to China from the bustling harbor decreased for 12 consecutive months. It suffered a 19.1% drop in export volume when comparing October 2019 with the same month in 2018.

China's retaliatory tariffs hit 96.6% of the purchases of U.S. exports that traveled through the L.A. port complex, with a price tag of $19.9 billion.



Add on the additional retaliatory tariffs from the other countries the U.S. is sparring with on trade, and that brings the total of impacted export cargo to $20.2 billion, or 28.8% of all export value through the L.A. port system. Considering 95% of the world's consumers are outside of the U.S., the tariffs imposed on American goods have priced them out of the global marketplace.


The receipt of losses is long and varied. The trade war expands beyond agriculture, which is $11 billion in the hole (and counting). The promises of President Trump of the $40 billion to $50 billion in agriculture buys by the Chinese in phase one is just an overblown headline. If you crunch the numbers, the two years before the trade war, the agriculture business community made $49.807 billion. China would have to buy $50 billion over the course of two years to make it a "win." But is it really? If it was a win shouldn't the lost revenue be added to that?"


https://www.google.com/amp/s/www.cnbc.com/amp/2019/11/13/trumps-china-trade-war-losses-will-never-be-recovered-shipping-data-tells-us.html

[Wellstone ruled]

1. If there was any chance of a

Soybean or Corn order coming from China. That would be Headline News in every Newspaper in the Midwest. Same for any Fresh Meat Order.

Appears from what the Relatives are saying,the major Grain Elevators are taking product for storage and am not sure what the charge per bushel is,but, only paying for Grain that is under Contract to proprietary buyers.

Next month looks darn ugly for many of those Farmers when the Bills come due and there are zero opportunities to sell product at a profit.

[orangecrush]

2. I hear that!

I live in a rural area, with many soybean farms.

Bet some farmers won't be backing Trump now.

[Wellstone ruled]

3. Yesterday's conversation

with the Rellies was not pleasant. Temps in the low teens and four to five inches of frost already in the ground and a couple hundred acres of corn setting just waiting for the snow to melt or blow off the Corn Stalks so they could Combine. Soybean harvest sucked the big one for them,lousy yields because of the wet year as well as the recent rains.

Worst part is,the lack of Propane for the Dryer. Big time rationing going on. And the bills keep piling up.

And yes,they most likely will continue to vote Rethug. Can't be a voting for a Socialist as per the Cousin.

[orangecrush]

4. Sorry to hear that.

It takes a lot for some people.

[Wellstone ruled]

5. My guess is,

come next Spring,there will be another Farmer seeking retirement and blaming us Lib's for his demise.

[keithbvadu2]

6. Didn't we hear that trade wars are good and easy to win?

Didn't we hear that trade wars are good and easy to win?