US delays tariffs

Mar 2012
57,242
38,799
New Hampshire
#1
So my suspicions seem to be correct. Trump announces tariffs, markets go down. Then announces they are delayed, the market rockets up. Who is the most likely making money off this game? Its becoming routine.

Stocks surged higher in a sudden move after the U.S. said it was delaying China tariffs until December on items including cellphones and clothing. The U.S. also outright removed some items from list of new tariffs.

The adjusted policy caused the Dow Jones Industrial Average to jump 443 points, while the S&P 500 rose 2.1% and the Nasdaq Composite was 2.5% higher, led by Apple which surged more than 5%.


The United States Trade Representative announced Tuesday certain products are being removed from the tariff list based on “health, safety, national security and other factors” and will not face additional tariffs of 10%. The tariff should be delayed to Dec. 15 from Sep. 1 for certain articles, it said.

“Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,” the statement from the USTR said.

Dow jumps 450 points led by Apple as US delays China tariffs on cellphones, clothing
 
May 2019
1,091
2,689
Backatown, USA
#3
Apparently someone who knows how the economy works beat some common sense into Trump.

Also, "Trump's tariffs cause price increases, US job losses" is not a great headline leading up to an election.
 
May 2019
1,091
2,689
Backatown, USA
#4
Government by Fox News.

Did Trump Delay China Tariffs After Being Criticized On Fox News?

Monday was hell on Wall Street as the markets tanked badly again after China retaliated against the Trump administration for imposing more tariffs against them that were set to begin September 1st.
Neil Cavuto brought on Brandon Arnold from the National Taxpayers Union, a pro-tax cutting operation since the days of Reagan, to discuss the day's mess.
Cavuto opened the segment by mentioning Sen. Rick Scott's ludicrous, "let's turn dog poop into gold" proposal of "turning tariffs into tax cuts" -- some magic calculator will give Americans tax cuts by "redistributing" the Chinese tariffs that have been collected by the government?
Cavuto reminded his viewers that American consumers and not China pay for all the tariffs Trump is imposing.
Cavuto said, "I like to remind viewers that countries don't pay these tariffs. average folks do and it's passed along at those entities that have to suck it up or pass it all along or suck it up and hope they can ride out the wave."
Arnold said "the senator has it wrong."
Neil asked if he agreed with Trump, that "the tariffs are not having a negative effect."
Brandon replied, "I do not. If there's no harm to our economy whatsoever then why do we provide a huge bailout of the farming industry, to the great farmers of this country? Because they are being hurt by the trade war."
Arnold then called out Trump and said, "tariffs having a negative impact on our economy and businesses."
Arnold also said there would have been no reason for the Fed to lower rates as well if we weren't being hurt by the trade war.
As for the upcoming tariffs he said they would hit the consumer markets and that's been the strongest sector in the US economy which could spell more trouble.
Arnold said, "If we prices take a step up because of the tariffs on the escalating problem, then that one strong part of our economy could weaken and that is very, very concerning."
"I think that's why a lot of investors are becoming very nervous about the future of the economy," he said.
On most of Fox Business and Fox News programs, many of the hosts and guests agree with almost everything Trump does, including the trade war against China. It was refreshing to see a conservative get honest on their airwaves about the ramifications Trump's nonsense is causing.
That was yesterday.
This morning the Trump administration delayed their new tariffs until December.


The Trump administration will delay until mid-December the 10% tariff on some Chinese products on many holiday-shopping lists.​
By granting a grace period for everyday items like phones and toys, the U.S. concession appears designed to avoid any disruption or price increases for American consumers heading into the final four months of the year -- from back-to-school purchases to Christmas shopping. Any goods imported for holiday sales would need to arrive several weeks before Dec. 15.​

That's a cave.

Did Trump Delay China Tariffs After Being Criticized On Fox News?
 
Nov 2010
2,854
1,127
San Diego...ish
#5
Government by Fox News.

Did Trump Delay China Tariffs After Being Criticized On Fox News?

Monday was hell on Wall Street as the markets tanked badly again after China retaliated against the Trump administration for imposing more tariffs against them that were set to begin September 1st.
Neil Cavuto brought on Brandon Arnold from the National Taxpayers Union, a pro-tax cutting operation since the days of Reagan, to discuss the day's mess.
Cavuto opened the segment by mentioning Sen. Rick Scott's ludicrous, "let's turn dog poop into gold" proposal of "turning tariffs into tax cuts" -- some magic calculator will give Americans tax cuts by "redistributing" the Chinese tariffs that have been collected by the government?
Cavuto reminded his viewers that American consumers and not China pay for all the tariffs Trump is imposing.
Cavuto said, "I like to remind viewers that countries don't pay these tariffs. average folks do and it's passed along at those entities that have to suck it up or pass it all along or suck it up and hope they can ride out the wave."
Arnold said "the senator has it wrong."
Neil asked if he agreed with Trump, that "the tariffs are not having a negative effect."
Brandon replied, "I do not. If there's no harm to our economy whatsoever then why do we provide a huge bailout of the farming industry, to the great farmers of this country? Because they are being hurt by the trade war."
Arnold then called out Trump and said, "tariffs having a negative impact on our economy and businesses."
Arnold also said there would have been no reason for the Fed to lower rates as well if we weren't being hurt by the trade war.
As for the upcoming tariffs he said they would hit the consumer markets and that's been the strongest sector in the US economy which could spell more trouble.
Arnold said, "If we prices take a step up because of the tariffs on the escalating problem, then that one strong part of our economy could weaken and that is very, very concerning."
"I think that's why a lot of investors are becoming very nervous about the future of the economy," he said.
On most of Fox Business and Fox News programs, many of the hosts and guests agree with almost everything Trump does, including the trade war against China. It was refreshing to see a conservative get honest on their airwaves about the ramifications Trump's nonsense is causing.
That was yesterday.
This morning the Trump administration delayed their new tariffs until December.


The Trump administration will delay until mid-December the 10% tariff on some Chinese products on many holiday-shopping lists.​
By granting a grace period for everyday items like phones and toys, the U.S. concession appears designed to avoid any disruption or price increases for American consumers heading into the final four months of the year -- from back-to-school purchases to Christmas shopping. Any goods imported for holiday sales would need to arrive several weeks before Dec. 15.​

That's a cave.

Did Trump Delay China Tariffs After Being Criticized On Fox News?
I think the point was that these moves are being made so that certain people can take advantage of the stock fluctuations. I would not be surprised by that. I also would not be surprised to find out that there is more going on here behind the scenes due to china’s current problems in Hong Kong.