* On A Serious Note.....We Love Stress, However, T
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Posted On: 11/14/2016 5:00:18 PM
* On A Serious Note.....We Love Stress, However, This Might Give Pause.....
1:30 pm ET November 14, 2016 (MarketWatch)
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By Shawn Langlois, MarketWatch
There will be dire consequences should Donald Trump wage a trade war with China, the country's state-backed Global Times publication warned on Sunday.
"China will take a tit-for-tat approach then," the editorial read (http://www.globaltimes.cn/content/1017696.shtml). "A batch of Boeing (BA) orders will be replaced by Airbus (AIR.FR). U.S. auto and iPhone (AAPL) sales in China will suffer a setback, and U.S. soybean and maize imports will be halted."
This stance is in reaction to Trump's inflammatory words on the campaign trail about how China is a currency manipulator that continues to "rape our country." Trump has also talked about a 45% import tariff on all Chinese goods, something the editorial cast off as "merely campaign rhetoric."
Global Times pointed to what happened when a 35% tariff was slapped on Chinese tires shortly after Barack Obama took office.
"In response, China took retaliatory steps of imposing tariffs on U.S. chicken and automotive products," the article said. "Both China and the U.S. suffered losses as a result. From then on, the Obama administration waged no trade war against China."
And if Trump tries a similar approach? "China-U.S. trade will be paralyzed," Global Times warned, adding, however, that it doesn't expect Trump to be so naive.
"If Trump wrecks Sino-U.S. trade, a number of U.S. industries will be impaired," the article said. "Finally, the new president will be condemned for his recklessness, ignorance and incompetence and bear all the consequences. We are very suspicious the trade war scenario is a trap set up by some American media to trip up the new president."
This is One You DON"T Want to PLAY With........OMGoodness.......Please...
1:30 pm ET November 14, 2016 (MarketWatch)
Share
By Shawn Langlois, MarketWatch
There will be dire consequences should Donald Trump wage a trade war with China, the country's state-backed Global Times publication warned on Sunday.
"China will take a tit-for-tat approach then," the editorial read (http://www.globaltimes.cn/content/1017696.shtml). "A batch of Boeing (BA) orders will be replaced by Airbus (AIR.FR). U.S. auto and iPhone (AAPL) sales in China will suffer a setback, and U.S. soybean and maize imports will be halted."
This stance is in reaction to Trump's inflammatory words on the campaign trail about how China is a currency manipulator that continues to "rape our country." Trump has also talked about a 45% import tariff on all Chinese goods, something the editorial cast off as "merely campaign rhetoric."
Global Times pointed to what happened when a 35% tariff was slapped on Chinese tires shortly after Barack Obama took office.
"In response, China took retaliatory steps of imposing tariffs on U.S. chicken and automotive products," the article said. "Both China and the U.S. suffered losses as a result. From then on, the Obama administration waged no trade war against China."
And if Trump tries a similar approach? "China-U.S. trade will be paralyzed," Global Times warned, adding, however, that it doesn't expect Trump to be so naive.
"If Trump wrecks Sino-U.S. trade, a number of U.S. industries will be impaired," the article said. "Finally, the new president will be condemned for his recklessness, ignorance and incompetence and bear all the consequences. We are very suspicious the trade war scenario is a trap set up by some American media to trip up the new president."
This is One You DON"T Want to PLAY With........OMGoodness.......Please...
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