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Trade Wars and Tarrifs and Trump

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Posted on June 25 2018

 

As previously discussed here.

When we have a so called president, who acts with such a reckless disregard of incontrovertible facts, you have to wonder:

 

At WHAT Cost?

The reality is two fold:

 

        • Increasing Cost
        • Deterioration of Diplomacy
 

Meaning everyday items ranging from Food to Electronics can and will become more expensive to buy. Thus the American dollar ends up buying less and costing more. Trade Wars have a predictable tit-for-tat rhythm, the only winner is the party who flinches first and irrespective of who the trade war winner is, the actual loser is and always will be the Consumer.

The fundamental concern is, at the present time we have a president who lies on a proven pathological level. Which means our Allies and even our Advesaries can not and should not Trust Trump. Ever.

The notion that Donald Trump is the “great negotiator and great business man” belies the actual truth, that Trump is a terrible negotiator and dozens of failed business ventures. 

 

Here’s a short list of Donald J Trump’s failed business ventures:

 

Trump Shuttle: 

Circa 1990, see Archived NYT Article, found here.

Mr. Trump and his top executives notified Citibank on Wednesday that the airline was not generating enough cash to meet the interest payments on the $245 million loan. Citibank is the lead lender for the loan. 

 

Trump Casino(s)

Little unknown fact about Trump Entertainment, Trump Castle Trump Marina, etc when Trump stepped down, he named Ivanka as his successor, which means if regulators & Investigators find (cough) bankruptcy fraud) then Daddy’s little princess is in it. And by in it I mean criminally like fraud, wire fraud...

See this March 2010 SEC 10K filing, on or about November 2009 both Trumps resigned but it’s odd to me, how do you bankrupt a casino? Not once. Not Twice but three times? 

 

        • 1991 filed for bankruptcy for the first time.
        • 2004 filed for bankruptcy, a SECOND time
        • 2009 filed for bankruptcy a THIRD time

 

Trump Mortgage:

“The Trump Mortgage Team is dedicated to making sure that every loan, every client, receives nothing less than the full Trump experience -- integrity, honesty, safety, guidance and exceptional personal service," 

See web archive from the Washington Post, found here

 

Trump University:

In 2013, then New York Attorney General Eric T. Schneiderman took Trump & Trump University to Court. See original NY AG 2013 Press Release, found here 

 

Consumers Out Of $40 Million With Sham "University"

More than 5,000 people across the country who paid Donald Trump $40 million to teach them his hard sell tactics got a hard lesson in bait-and-switch," said Attorney General Schneiderman. "Mr. Trump used his celebrity status and personally appeared in commercials making false promises to convince people to spend tens of thousands of dollars they couldn't afford for lessons they never got. No one, no matter how rich or popular they are, has a right to scam hard working New Yorkers. Anyone who does should expect to be held accountable."

 

Resulting in a $25M settlement shortly after the November 2016 election, yet it wasn’t until April of 2018 when a final settlement was reached, because Trump continued to litigate this matter. See April 2018 Press Release here

 

Judge Curiel's order finalizing the $25 million Trump University settlement means that victims of Donald Trump’s fraudulent university will finally receive the relief they deserve. We are particularly pleased that the final settlement we negotiated with class counsel ensures that members of the class will receive an even higher settlement than anyone originally anticipated.

This settlement marked a stunning reversal by President Trump, who for years refused to compensate the victims of his sham university.

 

 Trump created Trade Wars...

My question remains the same:

What NEW trade deal has the Trump Administration “negotiated”?

That answer is relatively easy: NONE

 

 

 

American Cattle Ranchers: 

Earlier today China announced it had successfully negotiated a trade deal with France, and in a crushing blow to American Cattle Ranchers, they now find themselves as yet another Trump victim. Trump’s incompetent “art of the deal” and self professed “the greatest negotiator” continues to harm actual Americans. 

 

 

In April a local Montana Paper wrote a brutal article of how Trump’s lack of coherent trade policy much less this “foreign policy” doctrine. The Billings Gazaette estimated Trump’s escalating Trade War with China would impact Montana Cattle Ranchers to the tune of:

 

Trump's trade dispute threatens $200M Montana beef deal with China, unsettles industry supporters...

The conflict faced by Trump's supporters in Montana, where some 28,000 farms and ranches make agriculture a top economic driver in the state, is reflective of the one facing the larger U.S. agriculture industry, which also largely backed Trump but now risks becoming a casualty if a trans-Pacific trade war erupts.

 

It’s NOT just Cattle, many grain farmers are worried about the trade Wars. Yet in a cruel twist of irony many of them voted for Trump because they “believed Trump was/is a master negotiator...a great business man...will roll back regulations”

 

Wheat farmers in particular worry about how tariffs would affect their market, which has gone through a turbulent stretch in recent years. More than 70 percent of Montana wheat is exported, primarily to Asia, according to the Montana Wheat and Barley Committee. Although less than 10 percent of that grain ends up in China, farmers say the potential for growth in the nation of almost 1.4 billion people is huge.

 

You can read the Billings Gazaette Article, here. It’s a worthwhile read, as it incorporates a lot of facts and input from bothsides. 

 

 

American Soybean & Grain Farmers:

 

In March Trump started fanning the flames of MULTIPLE Trade Wars that he & his Administration have created. Trump signed an executive order on March 8, 2018, the rationale was...lacking. See full order, here.

 

Among those recommendations was a global tariff of 24 percent on imports of steel articles in order to reduce imports to a level that the Secretary assessed would enable domestic steel producers to use approximately 80 percent of existing domestic production capacity and thereby achieve long-term economic viability through increased production.  The Secretary has also recommended that I authorize him, in response to specific requests from affected domestic parties, to exclude from any adopted import restrictions those steel articles for which the Secretary determines there is a lack of sufficient U.S. production capacity of comparable products, or to exclude steel articles from such restrictions for specific national security-based considerations.

 

 Last week a local Missouri Newspaper Published this article, it is brutal but it is also fair and posed numerous questions. And like you, I was totally aware of how much Soybean exports make up the State of Missouri’s Economy.  You really should read this article.

 

“Soybean exports made up about 23 percent of Missouri commodities exports and had a value of $2 billion in 2016. American Soybean Association President John Heisdorffer said May 30 it's critical for the White House to find a way for the Chinese market to re-open without tariffs.’

Of all the retaliatory tariffs imposed last week, one appears set to hurt the Midwest the most. Mexico announced plans Tuesday to impose tariffs of 20 percent on pork shoulders and legs.

 

The numbers and economic totality of Trump’s failed negotiation tactics, our allies are literally moving ahead with out us. Meaning Trump’s failed negotiation tactics will leave America totally isolated and the irony is those who voted FOR Trump will be disproportionately impacted. 

 

China also announced tariffs of 25 percent on U.S. pork products in April in retaliation for the steel tariffs. In 2016, Missouri exported 3 million hogs, totaling $882.6 million.

 

The United States exported $1.1 billion worth of pork to China in 2017, making it the No. 3 export market for U.S. pork

 

 When I assert that Trump is a one man global wrecking crew, that’s born from watching what our Allies are saying and doing. When Trump decides to act like a petulant bully. You DO understand that further alienates America from our Allies, right? Case in point in March of 2018, shortly after Trump announced Tariffs on Aluminum and Steel the European Union published this notice, warning it’s members that Trump’s caustic rhetoric as it relates to Tariffs should be taken with the utmost seriousness. Link to EU notice can be found here

 

 

Remember that time I said China & Russia are tag teaming against America? Yea I wasn’t being hyperbolic, when I noticed that Oleg Deripaska FARA Disclosures included China & Canada, that was my sound the alarm, we are screwed anc Trump is screwing us, our children and grandchildren.

 

 

And for what it’s worth, this isn’t me randomly ranting  about Trump is bat ___ crazy, I mean that is pretty well established, but this is about the long term socioeconomic harm Trump & his enablers are doing, because this weakens America. To that end even some in the Trump Administration are baffled at his lack of discipline and lack of knowledge with how bilateral diplomacy and trade naturally go hand in hand. See April 2018 USCC Report regarding China & America Commerce and Supply Chain. Link found here.

 

Harleys, Burboun, Jeans Tariff tit-for-tat:

America First, MAGA...all siren calls of the very worst of America’s destructive tendencies.

I am actually of the belief that Trump does not have any competent advisors, public policy experts or he’s just bonkers and “thinks” (operative word) he’s smarter than everyone, on the plant.

Because of Trump’s capricious and arbitrary trade War & Tariffs, he fails to understand that our Global partners are making surgical strikes in the form of highly targeted and choreographed Tariffs. Since Trump started this stupid trade war, other countries are retaliating. For example the -new- Tariffs oh Harley Davidson means an extra $2,200 per unit. See the second tweet in thread below, I linked to Harley Davidson’s SEC filing, it’s right there in black and white.

 

 

Trump ZTE and Congress

Last month I created a long twitter thread, and it is sourced to the teeth, numerous DOJ filings, the 2012 HPSCI Congressional Report and other malfeasance that ZTE and by extension the Chinese Government engaged in a protracted campaign of subterfuge. Yet Trump is touting he brokered a deal for ZTE? I’m sorry WHAT?

 

 

Maybe just maybe people should pay attention when I start rapid firing what looks like random threads. No there’s nothing random about my tweets or threads. Because the research makes a compelling case that China AND Russia are working together against America and our Country’s best interest. Which should make you wonder: Who’s Best Interest Is Trump “negotiation” on behalf of? From what I can tell, it’s certainly NOT America’s best interest, but sure MAGA...

 

 

Squire Patton Boggs, FARA discussion here

Oleg Deripaska FARA, China & Canada enter the same FARA filing, found here (see the June 2017 section, I left a Walderman Easter Egg for you)

So if you’ve made it this far in to this blog entry, here’s your tiny reward, yes I managed to find a little unknown video of the new defunct Trump Shuttle making an emergency landing. There’s an obvious metaphor here...Trump Shuttle = Trump Presidency.

 

 

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