Article

2018-07-14 Economy

J.P. Morgan Chase Says ‘Trade War' Is Not Hurting Business

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Posted by Besoeker 2018-07-14 01:21|| || Front Page|| [6 views ] Top

#1 What a lot of people are not talking about are the tariffs that the EU and China already impose on US manufactured goods.

Many of them are disguised as inspections, customs fees, transport fees, or storage fees.

China requires that all automobiles manufactured in the US under go inspection for compliance with Chinese "safety" laws. The inspections are on an individual automobile basis because the Chinese will not always accept manufacturer certification. Cars are partially disassembled, wiring tested, and tires x-rayed...even when many of the components tested are Chinese in origin.

They also conveniently charge customs fees of several hundred dollars on some items disguising them as administrative fees.

The Chinese shipping companies charge US companies hundred of dollars more to transport US goods to China than charged to ship similar to the US.

Japan did the same thing back in the 90's until Lightzer blew the whistle and got the WTO to cry foul on Japanese trade practices.

The fact that China is sucking trillions of dollars of US currency out of our economy and screwing our monetary policy is reason enough to clamp down on this stuff. If we don't, we'll eventually have hell to pay with inflation and interest rates as our currency supply is further depleted.

China has artificially down graded the Yuan to give them a favorable pricing compared to US dollars and are constantly having to tinker with interest rates and inflation to keep that shell game going (the Japanese also played games with the exchange rate for Yen against the dollar back in the 80's)

So all in all, Trump and his economic counsel is asking for China to level the playing field and compete on the same terms as everyone else.

Posted by Sock Puppet of Doom 2018-07-14 10:51|| 2018-07-14 10:51|| Front Page Top

#2 What a lot of people are not talking about are the tariffs that the EU and China already impose on US manufactured goods.

Yeah, but where's the anti-Trump angle in that?

Posted by Abu Uluque 2018-07-14 15:47|| 2018-07-14 15:47|| Front Page Top

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