iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Trump’s Latest Gambits: War with N. Korea, Venezuela and Trade War with China

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.

Source: Politico

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.

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20 comments

  1. Goober

    That’s probably a safe assumption (that he’s just pressuring China on NK). The markets seem to agree. A market preparing for nuclear war doesn’t fall just a percent or two. The whole fire and fury rhetoric was probably the same thing.

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  2. sarcrilege

    Come on ladies, surely this could not be a useful distraction from the RussiaGate theme, right? No, of course not. This is serious this time,…

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  3. WrongView

    It’s been clear that he is a volatile, dangerous, thoughtless, unprepared bore since about 10 years before he ran for president.

    But I thought that’s why you found him so charming?

    It was all so funny…

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  4. stries

    Venezuela shouldn’t take long, but I would ask that the Tigers get first pick of left over baseball players.

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    • stries

      I knew I shouldn’t have bought that Samsung extended warranty. Oh well, at least the LPGA will get more interesting to watch.

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  5. bushwacker2

    Go Orange! Orange trumps the Red Chinese and their piss Yellow River. Gotta love the Orange Prez.

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  6. chuckem

    Your boy.

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  7. mx2101

    Are these things a distraction and diversion, or are they relevant to America First? With regard to North Korea, everyone agrees Trump’s strategy is different from that of his predecessors.

    Some say China is the adult in the room.

    The Global Times report believed to be an expression of official Chinese policy seemed to give both sides room to maneuver and descallate. Yet Trump chose to double down on his approach the next day.

    Regarding nuclear war and dying: Donald Trump may be too old to care, and Kim Jong-un may be too young to not care.

    Who wants to die?

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  8. mx2101

    Fly, have you gotten a good seafood meal yet on this trip?

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  9. juice

    and we accuse the Ruskies of meddling … reminds me of the old saying — “One cannot clean a spot with dirty fingers.”

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  10. ironbird

    Laughable set up psyop in Libtarded Charlottesville. Fake news brought to you by the Deep State. Again.

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  11. WrongView

    Jesus loves you

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  12. blackgld

    Three wars could erupt on Monday and the market would still close higher. I doubled my SVXY position on Friday. Vix will revisit lows by end of September.

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    • rigged game

      Just exactly WHY should the market go up? Give the board a couple of reasons, dickwad.

      Employment is shitty, retail sales are shitty, earnings are shitty, Trump isn’t doing
      ONE FUCKIN’ THING to create jobs, the market is OVERVALUED, banks have topped out,
      real estate is in the dumper, Amazon and Netflix and Google have topped out, oil stocks
      are basket cases. A ‘higher market” my royal red ass!

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      • moosh

        Read the first sentence of the poster you called a dickwad. Then, read it again and use discernible common sarcastic sensibilities. Everyone is hoping for a dump dude.

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  13. Phileo99

    China owns $1.1 T of US Treasury Securities – this is the amount the Bank of China chooses to disclose, meaning it may have even more than that under the table. If Trump starts a trade war, Xi Jinping starts dumping the Treasury Securities. This drives down Treasury Note prices, effectively punishing everyone without prejudice: China, AND the biggest holders of Notes: Pension funds, municipal gov’t, Mutual Funds & Redneck Joe ‘Murican. The longer this goes on, the more likely this will trigger a loss in confidence in US Notes. ONce that happens, US defaults on its debt and then then we shall see a Great Global Recession that will rage with fire and fury like the world has never seen.

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