Bad news for the soyboys

[kpete]

BEIJING, June 1 (Reuters) - China has asked its state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, after Washington said it would eliminate special U.S. treatment for Hong Kong to punish Beijing.

Link to tweet

?s=20

[Johnny2X2X]

1. Ugh

They are totally invested in blaming China for their own failures, everyone is going to pay because of that.

[duforsure]

2. No matter what trump does and claim against China now

It's all being promoted by trump and Putin, and they show how little they care about the farmers. Trump has to have a enemy to blame, and accuse, then he'll make up more claims trying to use China to demonize Biden with. Putins used this before, and is why trumps instigating more conflict with China. All while trumps bending over backwards trying to please Putin. I believe soon we'll have evidence why trump continues doing this for Putin. Just a matter of time and they will be exposed , and the truth and justice will prevail.

[marble falls]

3. So much winning!

[Jarqui]

4. Trump is stupid but this is really stupid

"Smoot-Hawley Act is the Tariff Act of 1930. It increased 900 import tariffs by an average of 40% to 48%. Most economists blame it for worsening the Great Depression"

We're not technically in a recession yet but we are going to be.
More horrible numbers are going to come.

If Trump fucks with the Chinese, they can bury the US in a depression and withholding critical goods the US no longer makes - like many drugs for example.

US Needs China More Than China Needs the US
https://www.industryweek.com/the-economy/article/22025438/us-needs-china-more-than-china-needs-the-us

Much of that article is worthy of a read

[fleur-de-lisa]

5. "Trade wars are easy to win."

Remind me, which moron made that statement?

[Princess Turandot]

6. Oink. Smithfield Foods in Virginia is the largest pork producer in the world...

It's also wholly owned by a company called WH Group of China, whose operations in China make it their largest domestic food company.

In 2016, the Chinese consumed a staggering 54 million metric tons of pork. (By comparison,the US consumed 9 million tons.) I find it hard to believe that they're giving Smithfield's US production the chop, especially since a substantial amount of it is exported to them.

[Wounded Bear]

7. Not for long...

not if Trump keeps "winning."