And the same thing could easily happen in trade, as the Trump Elephant tromps around the China shop and breaks everything. Of course, his fans will cheer every step he makes, cause he's so "tough" and he's showing the world what's what and who's who!
He's showing them that the US can elect a really really stupid man as president. The great businessman! He understands and is a friend of business unlike that Obama dolt! Yeah, right.
Dozens of U.S. business groups have expressed alarm at reports of the potential new tariffs on China of as much as $60 billion. On Sunday, 45 American trade associations representing some of the largest companies in the country warned in a letter to the White House that such tariffs would raise prices on consumer goods, kill jobs and drive down financial markets.
The potential backlash from China could be painful. U.S. exports of goods and services to China supported more than 900,000 jobs in 2015, the latest data available from the U.S. Department of Commerce. Some 600,000 of those jobs were supported by supported by goods exports and 310,000 by services exports.
Among the biggest losers would be American farmers, who in 2016 sold $21 billion worth of farm products in China, the second-largest market for U.S. agricultural products.
A Trump trade war with China could hit these industries hardest
John W. Schoen | @johnwschoen
Published 7 Hours Ago Updated 4 Hours Ago
If President Donald Trump wants to launch his one-man trade war with China with a surge in tariffs, he has plenty of products to choose from.
The White House is reportedly set to announce Thursday up to $60 billion in new duties on Chinese goods, possibly singling out technology, telecommunications and intellectual property products to start.
But the list of potential targets runs to the thousands, everything from furniture to sneakers.
continues at cnbc.com
[Omigosh, it is so so stupid, it is just mind boggling. And these self-described high information geniuses are egging him on. What idiots these people are....] |
