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Futures Tank as Trump Proposes $100 Billion More China Tariffs

China retaliated on $50 Billion worth of tariffs, so Tump slammed China with another $100 billion.

The market? Who gives a damn what the market thinks?

After a decent rally today, the futures are deeply in the red this evening on news Trump Proposes $100 Billion More in Tariffs on China.

U.S. President Donald Trump said in a statement on Thursday that he has instructed U.S. trade officials to consider $100 billion in additional tariffs on China “in light of China’s unfair retaliation” against earlier U.S. tariff actions.

The statement said the U.S. Trade Representative has determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property.”

Message of the Day

The message for the day, as noted earlier and re-emphasized this even is Soybeans, Cars, Planes, and "To Hell With Wall Street".

China Response?

How will China respond?

It will not be by dumping treasuries. For discussion, please consider Understanding the Trade "Nuclear" Threat, China Dumping Treasuries.

Mike "Mish" Shedlock

I don't see any evidence of middle class hatred by Mish not sure where that is coming from. As far as middle class devastation is concerned it is a myth. Perhaps those who don't want to work and are on the tits of the system are upset because they are not getting enough free stuff from the govt. Anywhere you look there are labor shortages. The problem is no one wants to work hard. Not many people are going into the skilled trades either, all well paying occupations. Jobs lost through foreign competition are supposed to be replace via workers upgrading their skills and getting a better job. The govt provides plenty of assistance for those affected by this type of job loss. Most people choose plan B collect money and not work or do both by working under the table. Creative destruction works it has in the past and will continue. Look up Milton Friedmans lecture on free trade. I think (hope) Trumps game plan is to secure a fair trade arrangement not start a trade war. I am wondering why we allowed the Chinese to screw us for all these years as well as many others.

"No one wants to work hard"???? Tell that to the people of Lancaster, OH that are busting their butts working 2 or 3 minimum wage jobs after their manufacturing jobs were exported by private equity vultures. Tell that to the vast swathes of middle America that is reeling under Depression-era conditions. No wonder people have lost faith in both major political parties because they are dominated by neoliberals like you who screw Americans and then blame THEM for being lazy.

Right one example proves your point. Have them move to MI there are help wanted signs everywhere. People moved from the south to the north in the 50's and 60's for high paying manufacturing jobs. Ask any builder here or anywhere in the country if they are having a labor shortage problem. It neoliberal like you that don't want any changes that are the problem. Change is painful and people need to adapt to that change and not expect the govt to fix everything or make it worse as is frequently the case.

You are stupid beyond belief. Yeah, the idea of moving must have never occurred to people, right??!! How stupid! If you knew anything, you would know that people might not be able to move, for many reasons - financial, social and others.

You don't even know the meaning of the word "neoliberal". If you want to insult, at least make sure you are using the right terminology!

And Lancaster, OH is not just one example amid a sea of prosperity. It is typical of the whole Rust Belt. Do you even know the entire region encompassing half a dozen of more states of the United States is called the Rust Belt??

Wow never heard of the term rustbelt here in MI. I guess those involved in the mass migration from the south in the past were unencumbered by financial and social reasons. Also the same for all those who immigrated here from Europe etc, You are the moron not me. I bet you are agains all progress if it involves putting people out of work. You are the typical luddite who didn't want the buggy whip manufactures to get hurt by the auto manufactures.

It was not technological advances that ruined middle America, idiot. It is financial engineering of Wall Street types and their lackeys like you.

No wonder you have no clue what is going on. You have your head up the behinds of Wall Street corporate pirates that you think what they are doing is innovation. The coming days and years will spring more surprises for you. And being so goddamn clueless, every time you will be wondering what hit you.

you are absolutely correct you arrogant fucking asshole. Trying to have a discussion with your type is a waste of my time. Don't let any facts get in the way of formulating an opinion . Wow your calling me stupid really helps your argument, your are again an arrogant stupid fucking asshole. I am at this point going to unsubsribe to this post because I don't want to hear your useless bloviation.

That escalated quickly @hmk and @whirlaway

Swear to God I had something for this.

Never mind, I already posted the joke about libertarians few comments higher.

(edited)

When you make an insult, you should justify it. I mentioned Wall St financial engineering and I called you an idiot for not recognizing it. Contrast it with your reply - 100% insult and BS. Don't want to answer? Adieu!

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