
It’s Friday.
President Trump has tweeted 25 times, only to delete 11 tweets, giving him a total of 14 tweets so far.
1. NO MORE!
We have lost 500 Billion Dollars a year, for many years, on Crazy Trade with China. NO MORE!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
2. Plugs Fox & Friends.
V.P. Mike Pence will be interviewed on @foxandfriends at 7:30 A.M. Enjoy!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
3. as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….
Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….
— Donald J. Trump (@realDonaldTrump) May 10, 2019
4. The process has begun to place additional Tariffs at 25% on the remaining 325 Billion Dollars.
….The process has begun to place additional Tariffs at 25% on the remaining 325 Billion Dollars. The U.S. only sells China approximately 100 Billion Dollars of goods & products, a very big imbalance. With the over 100 Billion Dollars in Tariffs that we take in, we will buy…..
— Donald J. Trump (@realDonaldTrump) May 10, 2019
5. [If we buy more from our farmers] in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance.
….agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance. In the meantime we will continue to negotiate with China in the hopes that they do not again try to redo deal!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
6. Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind…Waivers on some products will be granted, or go to new source!
Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do. Our Farmers will do better, faster, and starving nations can now be helped. Waivers on some products will be granted, or go to new source!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
7. Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch!
Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch! In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with “murder!”
— Donald J. Trump (@realDonaldTrump) May 10, 2019
8. 466%. Wow!
The average 401(k) balance has SOARED since the bottom of the market – 466%. Wow!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
9. we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!
….If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
10. NO TARIFFS!
Build your products in the United States and there are NO TARIFFS!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
11. Your all time favorite President…
Your all time favorite President got tired of waiting for China to help out and start buying from our FARMERS, the greatest anywhere in the World!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
12. We have a great chance to “really rock!”
Great Consumer Price Index just out. Really good, very low inflation! We have a great chance to “really rock!” Good numbers all around.
— Donald J. Trump (@realDonaldTrump) May 10, 2019
13. SleepyCreepy Joe over Crazy Bernie. [@ #BeBest]
Looks to me like it’s going to be SleepyCreepy Joe over Crazy Bernie. Everyone else is fading fast!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
14. Quotes Carly Fiorina.
“We have been engaged in an unfair relationship with China for a long time. They have reneged on the commitments they made to the WTO, particularly around intellectual property.” Carly Fiorina @MariaBartiromo
— Donald J. Trump (@realDonaldTrump) May 10, 2019
The Washington Post reports that “White House officials accused China of reneging on prior details of the talks earlier this week, something Trump’s chief trade negotiator Robert E. Lighthizer told reporters was “unacceptable.” Chinese officials have denied backing away from any commitments.”
They go on to explain that the “The new tariffs largely impact business equipment but will also affect $40 billion in consumer products like air conditioners, furniture, certain clothing and spark plugs.”
The article notes that business groups and trade experts have said that, “Trump routinely misstates how tariffs work. Tariffs are taxes paid by U.S. companies that bring in products from overseas. So those costs are borne by companies like manufacturing firms, chemical producers and others that rely on Chinese products. This drives up the cost of Chinese products, which Trump has said will help U.S. competitors, but it also pushes up the cost for U.S. companies that use Chinese products as well.”
The New York Times reports that in light of President Trump’s renewed threats of issuing higher more costly tariffs that “The Chinese government issued a muted response on Friday after President Trump raised tariffs on $200 billion worth of Chinese goods. ”
Jim Tankersley with the New York Times reported that consumers can expect “higher prices in their favorite grocery stores, hardware shops, and box-retailers.”
He writes, “The official $200 billion tariff list starts with “frozen retail cuts of meat of swine” and ends with “monopods, bipods, tripods and similar articles of aluminum.” In between are 194 pages of products that you can find on store shelves across the country.”
He goes on to explain that “Economists and business owners expect the tariff increases to hit consumers in two ways.”
- Stores that were already passing on the cost of the 10 percent tariffs will now pass on a higher cost.
- And businesses large and small that previously tried to shield customers from the smaller tariffs will now find it almost impossible to avoid passing some or all of that tax on to Americans who buy their products.
David French The National Retail Federations Senior Vice President warned this week that “consumers would bear the costs of an abrupt increase in the taxes on goods.”
A sudden tariff increase with less than a week’s notice would severely disrupt U.S. businesses, especially small companies that have limited resources to mitigate the impact. If the administration follows through on this threat, American consumers will face higher prices and U.S. jobs will be lost
David French via The New York Times
As the article notes, some “items are being hit twice by Mr. Trump’s tariffs — those made out of imported steel, which he hit with a 25 percent tariff last year, and aluminum, which he hit with a 10 percent tariff. The auto parts on the list could be subject to double tariffs of their own if Mr. Trump follows through with a longstanding threat to impose new tariffs on imported cars and trucks — and their parts — this year.”
Lost in the easy to win trade war with China, on Wednesday CBS News reported that “Fresh tomatoes may soon be in short supply, and those still available are going to cost significantly more, as the Trump administration is readying a new tariff on the produce imported from Mexico.”
The new 17.5 percent tariff on tomatoes was announced on Tuesday with Commerce Secretary Wilbur Ross saying in a statement, “The Department of Commerce remains committed to ensuring that American domestic industries are protected from unfair trading practices. We remain optimistic that there will be a negotiated solution.”
In light of the Commerce Departments announcement Mexico’s economy ministry “said American consumers can expect to pay 38 percent to 70 percent more for tomatoes. Mexico supplies about half the tomatoes consumed in the U.S., which receives about $2 billion worth of tomatoes from its southern neighbor.”
For What It’s Worth.
U.S. stocks are 📉 https://t.co/hbsATJTfuG pic.twitter.com/xXrY8yAhrK
— Bloomberg (@business) May 10, 2019
Opinion.
Me reading the tweets on Friday morning. (Gif via Tenor.com.)
15. Great Republican vote today on Disaster Relief Bill.
Great Republican vote today on Disaster Relief Bill. We will now work out a bipartisan solution that gets relief for our great States and Farmers. Thank you to all. Get me a Bill that I can quickly sign!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
As the News Blender reported the House has passed a Disaster Relief Bill, with only 34 House Republicans supporting the package.
As the News Blender reported President Trump late Thursday told Republicans via tweet to oppose the bill, calling it “A BAD DEMOCRAT,” bill. He re-tweeted his tweet on Friday.
16. The relationship between President Xi and myself remains a very strong one, and conversations….
17. into the future will continue….Tariffs on China, which may or may not be removed depending…
Over the course of the past two days, the United States and China have held candid and constructive conversations on the status of the trade relationship between both countries. The relationship between President Xi and myself remains a very strong one, and conversations….
— Donald J. Trump (@realDonaldTrump) May 10, 2019
….into the future will continue. In the meantime, the United States has imposed Tariffs on China, which may or may not be removed depending on what happens with respect to future negotiations!
— Donald J. Trump (@realDonaldTrump) May 10, 2019
This post will be updated within reason.