Trump approves tariffs on $50 billion worth of Chinese goods

[Julian Englis]

Source: CNN

An announcement is expected on Friday. The president's green light came after a meeting Thursday with top economic officials, including Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer.

The move represents a dramatic escalation of global tensions on trade just as Trump has picked fights with allies Canada, the European Union and Mexico over steel and aluminum.

Read more: http://money.cnn.com/2018/06/14/news/economy/trump-china-tariffs/index.html

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This appears to be breaking.

Link to tweet

President Trump has approved tariffs on $50 billion of Chinese products, a source says. The move is a dramatic escalation of global tensions on trade.

[Roy Rolling]

1. Approved?

That means there is somebody even more stupid giving him advice on how to do it?

[bitterross]

11. There is a Stephen Miller for every issue.

Not sure who the economic idiot is. Maybe Kudlow got in his advice before he had the heart attack.

[KCDebbie]

2. This means that working families that brave the longest check-out lines

in the world for low prices will be paying more for those items...

[Owl]

3. Any Ivanka crap?

[Still In Wisconsin]

4. So, cheap plastic shit from China will now be more expensive.

Whatever will Wal-Mart do?

[mahatmakanejeeves]

7. And maybe equipment from Harbor Freight Tools.

That's going to hit a lot of working people in the pocketbook.

I'm saying "maybe," because I don't know what items the tariffs target.

[Still In Wisconsin]

13. I forgot Harbor Freight... that stuff is shit too.

If you need tools that break the week you buy them go to Harbor Freight. But your point is valid and taken.

[iluvtennis]

15. I shop at Walmart for the low prices...this will impact me and my kids.

[C_U_L8R]

5. Where's Congress?

They have some say in this, no?
Crashing our economy will hit them just as hard as everyone else.
Unless there's illicit insider trading... which wouldn't surprise at all.

[SergeStorms]

10. HaHaHa......

that's a good one! Where's Congress?

They're the same place they've been since Putin and Comey gave the election to Trump: Firmly up Trump's ass, somewhere around the large intestine, I believe.

[mahatmakanejeeves]

6. I wonder if there's any well known line of merchandse that's exempted. NT

[world wide wally]

8. Trump ties no doubt

[SergeStorms]

9. I'm sure Trump doesn't realize....

that China could ruin the United States economy quite easily.

The U.S. debt to China is $1.19 trillion as of March 2018. That's 19 percent of the $6.29 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $21 trillion national debt is owned by either the American people or by the U.S. government itself.

Maybe someone should tell his assholiness that China has much more economic power over the United States than we do over them. Not that he'd listen, but someone should tell him.

[Bernardo de La Paz]

12. Even half-wit generals say "Don't start a war on more than one front at a time".

Trump is starting four (trade) wars simultaneously. Perhaps he is tired of winning.

[KY_EnviroGuy]

14. Trump crisis of the week.

Timed to overshadow the big court news on Friday.

I swear I believe this bunch creates crises and runs with them to the brink of disaster, just so they can inch away from it then claim with great bluster how they saved the day. That's exactly what they did with North Korea.

Some day soon I fear, they will create one that will collapse in their face. China or Canada could do it with severe counter-tariffs and Iran could do it with a war. Russia could do it if Putin turns on Trump. Everyday Americans will suffer most of the pain in the end.

.......