Neocon Trump is now menacing Venezuela with military action — because he can. Who’s ready to send their son’s to the shithole of S. America?
When asked if the US was prepared to head into a miserable war with N. Korea, Trump replied ‘you know what the answers is.’
And, lastly, and probably most importantly for you trader-nerds out there — Trump is seriously going to launch a trade war against China — starting Monday.
Trump told reporters in New Jersey that he would call Chinese President Xi Jinping on Friday night to discuss North Korea. “We have been working very closely with China and with other countries,” he said.
The president was slated to announce the China trade action last week. But the announcement was delayed amid sensitive negotiations with China over the UN sanctions.
Still, Trump has delayed trade action before, amid pressure from business groups and major trading partners.
Two Commerce Department reports examining whether to restrict steel and aluminum imports on national security grounds were expected by the end of June but have been bottled up in an internal review. Trading partners raised threats of retaliation and domestic steel users complained of being hurt by price increases and restricted supply.
There also has been no sign of a third pending report, examining the causes of significant bilateral trade deficits, which was also due by the end of June,
Business groups, however, may welcome Section 301 action, because companies have complained they are often forced to share valuable technology with Chinese counterparts as a condition of doing business in the country.
Section 301 allows the U.S. to take unilateral action against countries that impose barriers to U.S. exports. That could take the form of increased import duties, but that would likely violate WTO rules. So the administration could look for some other form of retaliation, like restricting Chinese investment in the United States.
I don’t even know what a trade war with China would look like. We could assume any contract manufacturer would catch a severe beatdown, as well as. the innumerable companies who produce cheap items abroad. I’m just going to assume this is Trump bluffing, trying to get China to rein in N. Korea.If you enjoy the content at iBankCoin, please follow us on Twitter