Trump signs sweeping tariffs, defying trade war warnings
The tariffs of 25 per cent on imported steel and 10 per cent on aluminium will come into effect in 15 days, the White House said.
(Updated: )
Tommie Vale
Trump is fulfilling his campaign promises one by one.
Ricky Lim ·
The World in due course will teach Trump a good lesson - one by one.
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Ricky Lim ·
For a start, US consumers will see a rise in price of cars, smartphones, computers, electrical appliances like fridge, TVs, aircon, furnitures, windows, doors, chairs, tables, cabinets, ships, planes, roads, bridges, houses etc that are using steel or irons.
And US exports of such items will see a fall into overseas market because it will raise prices - and US exports will become less competitive.
This means that US will start losing business and losing jobs --- because domestic demands and export demands will fall.
And US exports of such items will see a fall into overseas market because it will raise prices - and US exports will become less competitive.
This means that US will start losing business and losing jobs --- because domestic demands and export demands will fall.
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Ricky Lim ·
Without knowing the consequences, you still so happy with what Trump has done?
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Ricky Lim ·
And many Countries have already signed many multi-lateral trade deals - excluding US.
Do you know that US will soon get itself isolated and many export markets for US goods and services will no longer be competitive?
This mean more and more US businesses will be lost and this mean US export-led jobs will be lost - due to Trump "America First, World Last" protectionist policies - that have alienated the World market.
Effectively "Trade Firewall" have been build around Trump led US - to cut out any fallout from Trump protectionist policies and economic fallout.
You still so happy with Trump ah?
Do you know that US will soon get itself isolated and many export markets for US goods and services will no longer be competitive?
This mean more and more US businesses will be lost and this mean US export-led jobs will be lost - due to Trump "America First, World Last" protectionist policies - that have alienated the World market.
Effectively "Trade Firewall" have been build around Trump led US - to cut out any fallout from Trump protectionist policies and economic fallout.
You still so happy with Trump ah?
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Ricky Lim ·
Trump is leading US into the most "isolated Country" in the World.
Are you happy with Trump now?
Are you happy with Trump now?
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Ricky Lim ·
US will be hit with triple whammy:-
(1) US business - that need to buy steel and alumininum - will be hit by higher prices and lower domestic demand as well as overseas demand.
When other Countries retaliates against US - other US businesses that are not using steel and aluminium will also be hit with higher prices and lower domestic demand as well as overseas demand.
(2) As the above US businesses make loses - it will cut jobs - and American jobs of all these industries will be cut.
(3) US Economy will plummet - as domestic spendings fall, income fall, overseas export market fall.
You can rejoice now and hail Trump for doing a GREAT JOB !.
(1) US business - that need to buy steel and alumininum - will be hit by higher prices and lower domestic demand as well as overseas demand.
When other Countries retaliates against US - other US businesses that are not using steel and aluminium will also be hit with higher prices and lower domestic demand as well as overseas demand.
(2) As the above US businesses make loses - it will cut jobs - and American jobs of all these industries will be cut.
(3) US Economy will plummet - as domestic spendings fall, income fall, overseas export market fall.
You can rejoice now and hail Trump for doing a GREAT JOB !.
Ricky Lim ·
US trade deficit is $900 billion.
But US export $1.42 trillion to the World and support estimated 10.7 million U.S. jobs.
Each Countries in the World export less than $500 billion to US.
So Trump war chest is $900 billion and will be expected to lose $1.42 trillion in export market and 10.7 million US jobs.
Conversely, the World in total has $1.42 trillion war chest against Trump - and each Countries only stand to lose at most $500 billion.
Do you think the World will lose big or Trump will lose BIG?
But US export $1.42 trillion to the World and support estimated 10.7 million U.S. jobs.
Each Countries in the World export less than $500 billion to US.
So Trump war chest is $900 billion and will be expected to lose $1.42 trillion in export market and 10.7 million US jobs.
Conversely, the World in total has $1.42 trillion war chest against Trump - and each Countries only stand to lose at most $500 billion.
Do you think the World will lose big or Trump will lose BIG?
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Christopher Mathew Stephenson ·
Ricky Lim it could be worse, it could be singapore where a average car will cost you 200 thousand, 1million for a 800) sqf flat a bottle of whiskey is over 100$
Jm Chow
Trump starting a trade war with China because of the trade deficit ? Is it good for the USA ?
The trade deficit with China in 2017 is reported as 580 billion dollars. Trump ask China for a plan to reduce the deficit by one billion dollars.
Is the trade deficit real and accurate ?
No. it is not accurate.
This figure account for only US products like Boeing aircraft, Soya beans, wine, meat and food products... shipped from the USA to China.
It DID NOT count those gigantic amount of products and services made by US corporations and factories in China for sales directly to the the 800 billion middle class Chinese (their value amounted to hundreds and hundred of billions of dollars).
US products include expensive designers fashion products, very high priced clothings, shoes and handbags... being sold in thousand of shopping malls in cities in China,...
Also include iphone, American cars assembled in China,.. Coke, Mac Donalds, KFC, Starbucks ...Microsoft, AT&T, Intel, Apple, ..the list is endless....
Also US products made elsewhere (example pharmaceutical products made in Singapore) and exported for sales in China)
If these US products are included...the trade balance is in fact in favour of the USA. The TRILLIONS of dollars in profit held overseas by US corporations is an accurate measure of this " gap" in the trade balance.
In response to Trump's steel tariff, China could easily levy a sales tax on say.... coke and Mc Donald or even ban their sales altogether.
Trump has been misinformed. A trade war against China is ILL-ADVISED.
The trade deficit with China in 2017 is reported as 580 billion dollars. Trump ask China for a plan to reduce the deficit by one billion dollars.
Is the trade deficit real and accurate ?
No. it is not accurate.
This figure account for only US products like Boeing aircraft, Soya beans, wine, meat and food products... shipped from the USA to China.
It DID NOT count those gigantic amount of products and services made by US corporations and factories in China for sales directly to the the 800 billion middle class Chinese (their value amounted to hundreds and hundred of billions of dollars).
US products include expensive designers fashion products, very high priced clothings, shoes and handbags... being sold in thousand of shopping malls in cities in China,...
Also include iphone, American cars assembled in China,.. Coke, Mac Donalds, KFC, Starbucks ...Microsoft, AT&T, Intel, Apple, ..the list is endless....
Also US products made elsewhere (example pharmaceutical products made in Singapore) and exported for sales in China)
If these US products are included...the trade balance is in fact in favour of the USA. The TRILLIONS of dollars in profit held overseas by US corporations is an accurate measure of this " gap" in the trade balance.
In response to Trump's steel tariff, China could easily levy a sales tax on say.... coke and Mc Donald or even ban their sales altogether.
Trump has been misinformed. A trade war against China is ILL-ADVISED.
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