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
18,593 Blog Posts

Report: Trump Wants China to Suffer More

Axios is reporting from their sources, Trump has no plans to end the trade war with China, at least not until they’ve suffered more. Now saddled with the worst performing market in the world to date, China seems to be on the losing end go this war of trade. After all, with very little importation of American goods into China, roughly $115b in 2017, China has much to lose.

Just a little back of the envelope math here, at $520b of Chinese imports into the country at a 25% traffic, US consumers also get dinged with a potential $130b+ in high costs for their cheap Chinese wares. In other words, that shit you buy in Target for $19.99 might now retail at $25.

The bottom line, as per Axios.

All signs suggest the trade war between the U.S. and China is just getting started. I’ve asked sources close to Trump whether he’s ever expressed any private concerns over whether his tariffs could backfire due to Chinese retaliation against American consumers or companies. Nobody I’ve spoken to has heard Trump express anything along these lines. He’s all in.

Nasdaq futs are only -4 now, up from -50.

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11 comments

  1. wolfdaddy

    If we don’t have a black Monday tomorrow, we are going to rip higher. October scare is over

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  2. joyous__ending

    Look at it this way. Reagan’s goal was to bankrupt the Soviet Union in a military Cold War….eventually worked.
    Trump, bankrupt China to end the economic Cold War that China started on us decades ago, when past presidents just played along.

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  3. tradingnymph

    Tonight we have two things that are popping the futures, One China Govt is probably out buying up the China Equities Market again and Two, China announced a proposed draft on new Tax Deductions that will take place next year. But omg, we are talking like 163.00 write off on Mortgage payments and maybe a max of 9,500.00 against Medical Bills. Not the Millions they have thrown. So I vote for the First reason which means it will get ugly again tomorrow…but I am a Bear waiting for this bubble to pop for 9 years now.

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  4. probucks

    Trump is the GOAT

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    • jonnybegood2

      um sorry bud but trump literally is an actual goat. Muhammad Ali was the GOAT.

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  5. kdogg1787

    To the Bone!

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  6. chuck bennett

    These colors don’t run! (No racist)

    America!!

    Regards

    Chuck Bennett

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  7. stihltired

    Think it might be a decent time to pick up uranium with USA dropping from nuclear arms treaty?

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  8. roundwego

    Burn baby burn, it’s a disco inferno.

    https://youtu.be/A_sY2rjxq6M

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  9. jbandy

    Too many morons out there who started thinking the market was easy and they can quit their jobs and retire early. Those guys need wiped out before this will be over.

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