Drudge Retort: The Other Side of the News
Monday, May 13, 2019

China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.

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Nobody wins a trade war.

#1 | Posted by JeffJ at 2019-05-13 01:11 PM | Reply | Funny: 1

Nobody wins a trade war.

#1 | POSTED BY JEFFJ

Tell that to Trump. Someone needs to.

#2 | Posted by Sycophant at 2019-05-13 01:39 PM | Reply

The fart of the deal.

Der Dotard was shown to be a complete amatuer when it comes to dealing with skilled negotiators of the Chinese sort. The US is now is a position where it will either
(1) collect tariffs (read: taxes) from American consumers to help pay for subsidies to American farmers, who cannot profitably sell their products on world markets because Trump's administration has been too stupid to seek alternative markets for farm goods, or
(2) knuckle under to the Chinese, thus presenting Trump with a YUGE defeat in the eyes of the world and (most) US voters, after a jolt of inflation thanks to increased prices brought on by--that's right--tariffs on Chinese imports (read: taxes).

The US economy is driven by the US consumer. Slow the roll of the consumer and one slows the US economy. Slow the US economy in advance of US elections, and the elected officials deemed responsible get to look for new jobs. Or, in Trump's case, contemplate jail time...

#3 | Posted by catdog at 2019-05-13 01:43 PM | Reply

Tell that to Trump. Someone needs to.

#2 | POSTED BY SYCOPHANT

I guarantee he won't listen.

#4 | Posted by JeffJ at 2019-05-13 01:43 PM | Reply | Newsworthy 2

Trump thinks he can bluster his way through a complex international trade deal like he'a talking to a 27 year old banker to get financing for a knockoff vodka company. The idiots who entrusted this moron with such vast power need to have their heads examined.

#5 | Posted by JOE at 2019-05-13 01:46 PM | Reply | Newsworthy 4

"We can't raise taxes on corporations because they'll raise prices and consumers will end up paying for it!"
-GOP

Then trump raises taxes directly on consumer products.

"MAGA!"
-GOP

So it's bad when we raise taxes on corporations because consumers will pay for it, yet somehow it's ok to raise taxes on those consumers directly?

#6 | Posted by SpeakSoftly at 2019-05-13 02:38 PM | Reply

Nobody wins a trade war.

#1 | Posted by JeffJ

Would hillary have started this trade war or are you still pretending you can't tell that trump was the worse option?

#7 | Posted by SpeakSoftly at 2019-05-13 02:38 PM | Reply

#7

You may recall that I said she'd be as bad for completely different reasons.

#8 | Posted by JeffJ at 2019-05-13 02:44 PM | Reply

China can hold out a lot longer than the US can.

Tell that to Trump. Someone needs to.

#2 | POSTED BY SYCOPHANT
I guarantee he won't listen.

#4 | POSTED BY JEFFJ AT 2019-05-13 01:43 PM | FLAG:

Even the GOP has given up telling Fat Nixon things he doesn't want to hear. They fear him.

#9 | Posted by Nixon at 2019-05-13 02:49 PM | Reply

China retaliates with tariffs? Geez. Nobody saw that coming!

#10 | Posted by moder8 at 2019-05-13 02:53 PM | Reply

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China has more to lose in a trade war, but it has a big advantage. The government is a dictatorship and the population act collectively when attacked. The USA is a selfish nation with the GOP against collective action that promotes fairness. The Chinese know this and will up the pressure on the US until the GOP surrenders to protect their masters wealth.

If Trump was smart (ha), he would have told the nation that the only way to change China's unfair trade practices is a trade war that will hurt US exporters. He should have rallied the country to agree to pay to help exporters find new markets and give them time to negotiate new contracts. Then implement a reciprocal trade policy that erodes China's economic power. Consumer prices will go up, jobs will go down, but that is likely a price worth paying to stop an expansionist dictatorship from dethroning the USA. But, that would require understanding economics, planning, speaking the truth and having the support of sensible people. Trump is incapable of that.

#11 | Posted by bored at 2019-05-13 03:04 PM | Reply | Newsworthy 2

Trump......is having the time of his life....imagine.........this time he's betting with Americas's money...

The people that are encouraging him say that he thrives on this gambling environment full of suspense.

SO?....in his mind it's not his money!! So what!! He's doubled his bet, everybody else is on pins and needles...

He's playing America's roulette wheel.. Trump thinks he's going to be coming out smelling like rose, but let's see what

happens after the roulette wheel stops....

#12 | Posted by saginawmi at 2019-05-13 03:07 PM | Reply

You may recall that I said she'd be as bad for completely different reasons.

#8 | Posted by JeffJ

Sure completely nebulous imaginary unspecific reasons brainwashed into your head via 20 years of propaganda.

#13 | Posted by SpeakSoftly at 2019-05-13 03:11 PM | Reply | Newsworthy 2

Even if the reasons are specific and real, i have to question the values system and judgment of anyone who thinks those reasons are on balance with the reasons against having a President Trump.

#14 | Posted by JOE at 2019-05-13 03:23 PM | Reply | Newsworthy 1

20 years of propaganda.

Are you going to try and make the case that she was an awesome candidate?

Please do so, it will be hilarious.

#15 | Posted by JeffJ at 2019-05-13 03:27 PM | Reply

Jeff is a Trump supporter.

There's nothing much Jeff actually faults Trump for.

He lavished praise on him every chance he gets (Judicial nominees, foreign policy) and deflects to Obama or Hillary whenever necessary.

In the end. Trump better represents Jeff.

#16 | Posted by ClownShack at 2019-05-13 03:27 PM | Reply

Trump said forget China and buy all your stuff from Wal-Mart.

#17 | Posted by lee_the_agent at 2019-05-13 03:43 PM | Reply

Trump said forget China and buy all your stuff from Wal-Mart.
#17 | POSTED BY LEE_THE_AGENT

And that's exactly what Boaz, Sniper, Fishpaw and the rest of The (R)Tards have started doing

Take that China! We will buy your WalMart products! So there!!

Wait... what?

#18 | Posted by ClownShack at 2019-05-13 03:54 PM | Reply

"Walmart China "firmly believes" in local sourcing with over 95 percent of their merchandise coming from local sources.

"In America, estimates say that Chinese suppliers make up 70-80 percent of Walmart's merchandise, leaving less than 20 percent for American-made products.

"Walmart's financial records show it collected $3.9 trillion in net sales between 2005 and 2014. In 2013, the company committed to purchasing $250 billion in American-made goods by 2023 – just 6 percent of its net sales over the past decade (5% in 2014).

"If Walmart continues to grow at the same rate, in 2023 the company will spend just 3.2 percent on American-made goods."

www.americanmanufacturing.org

#19 | Posted by ClownShack at 2019-05-13 03:57 PM | Reply

20 years of propaganda.

Are you going to try and make the case that she was an awesome candidate?

Please do so, it will be hilarious.

#15 | Posted by JeffJ

I don't need to. All I have to do is make a case that she's not an unstable egomaniacal racist treasonous cruel ignorant con man to make a case she's better than trump.

You're still weighing an unstable egomaniacal racist treasonous cruel ignorant con man versus a lady with a sketchy email server and going "durr I dunno she seems worse to me"

#20 | Posted by SpeakSoftly at 2019-05-13 04:34 PM | Reply

Damn, $60b vs $200b. Sounds like t tough row to hoe.

#21 | Posted by Sniper at 2019-05-13 05:06 PM | Reply

4% of the Chinese GDP is value of trade exports to the US. I would assume another 5-10% of their GDP is tied to producing these goods in various support industries and infrastructure. US trade with China accounts for .4% of the US GDP. In absolute dollar terms as well as in % of GDP terms, the Chinese cannot win this trade war. Their economy is already in recession with no one believing the 6.4% GDP growth that is the official government statistic. Worse, their debt problem is way, way worse than in the US.

But, first let's look at the size of their actual economy - it is really around ---- (nationalinterest.org), not the $14T widely reported due to systematic overstatement by local government officials. However, their total debt (household, corporate, government) is 300% of their fake GDP - in reality it is nearly 400%. This would put them on par with developed nations with performing loans, etc - that is not the case with China where zombie SOE's have trillions in debt that can never be repaid. Even for corporate and HH, this may be a manageable debt load at 6%+ growth - but that is not the case with growth already sub 4.5% even with the rosiest projections. The reality is that China is already contracting and suffering from capital flight (look at all real estate sales in US West Coast, Canada, Australia, Taiwan, etc). That is Chinese money leaving to escape the crash. With the Yuan already down 5% YoY, expect another 5-10% this year to try to soften the impact of the tariffs - which Trump will likely offset by upping tariffs in proportion to the currency manipulation.

I know Libs hate China so much that they will celebrate our enemies - whether that be North Korea, Iran, China, or even ISIS. However, just like Trump crushed ISIS after years of Obama incompetence, he will crush China after decades of total US political incompetence and corruption. The problem never should have gotten this bad - than God we have the guy with the testicular fortitude to address it.

#22 | Posted by iragoldberg at 2019-05-13 10:47 PM | Reply | Funny: 1

Damn, $60b vs $200b. Sounds like t tough row to hoe.

#21 | POSTED BY SNIPER AT 2019-05-13 05:06 PM | REPLY | FLAG:

We pay the bigger amount. Just FYI.

#23 | Posted by BruceBanner at 2019-05-13 11:57 PM | Reply

Want to read something funny? Trump says he will use revenue from tariffs to fund aid for farmers hurt by tariffs!

Think about that for a minute.

#24 | Posted by MisterCarajo at 2019-05-14 03:23 AM | Reply | Newsworthy 1

The idiots who entrusted this moron with such vast power need to have their heads examined.

#5 | POSTED BY JOE

Or removed.

#25 | Posted by donnerboy at 2019-05-14 09:54 AM | Reply

"no inflation in this extremely good economy."
--Lying GOP--

#26 | Posted by e1g1 at 2019-05-14 02:07 PM | Reply

We pay the bigger amount. Just FYI.

Only if you buy Chinese sourced products. Just FYI.

#27 | Posted by Rightocenter at 2019-05-14 02:50 PM | Reply

just like Trump crushed ISIS after years of Obama incompetence, he will crush China after decades of total US political incompetence and corruption. The problem never should have gotten this bad - than God we have the guy with the testicular fortitude to address it.

#22 | Posted by iragoldberg

LOL just because both balls fill your mouth doesn't mean they're that big or that useful.

#28 | Posted by jpw at 2019-05-14 03:41 PM | Reply

#22 | POSTED BY IRAGOLDBERG

ISIS is alive and well.

That point invalidates everything else you just said.

Figures.

#29 | Posted by rstybeach11 at 2019-05-14 04:23 PM | Reply

"ISIS is alive and well.
#29 | POSTED BY RSTYBEACH11 "

Can you point to the caliphate on a map? I could under Obama but I can't seem to locate it now. Thanks!

#30 | Posted by iragoldberg at 2019-05-15 12:10 AM | Reply

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