Reply to China Retaliates Against the U.S. With Its Own Higher Tariffs

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm stunned by how ignorant most Americans (and Trump supporters) are about how tariffs work.  Trump lies blatantly and announces that the Chinese will pay for the tariffs our government imposes on Chinese imported goods.  The public believes this lie.  Don't schools teach basic history and commerce to kids anymore?  It's frightening how stupid we've become.  [/quote]

Forget about most Americans, Trump doesn't understand how tariffs work.  Larry Kudlow had to contradict him yesterday and note that both sides are going to suffer in this trade war.
https://www.cnn.com/videos/politics/2019/05/12/larry-kudlow-trump-china-trade-sot-vpx-nr.cnn[/quote]
Please see 13:24. Now we know the absolute truth.[/quote]

13:24 is a sock puppeting post.  Learn something about markets before you post.
https://www.cnbc.com/2019/05/12/kudlow-says-us-will-pay-for-china-tariffs-contradicting-trump.html
White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S., contradicting President Donald Trump’s claims that China will pay for tariffs imposed by the U.S.
Kudlow said that “both sides will suffer on this,” but argued that China will suffer significant GDP losses as export markets are hit. The blow to U.S. GDP, on the other hand, won’t be substantial since the economy is “in terrific shape,” he said.[/quote]

Down, down, down goes the DOW.
https://www.cnbc.com/2019/05/13/us-markets-react-to-china-trade-war-news-and-more.html
[quote]
Stocks fell sharply on Monday, with the S&P 500 and Nasdaq Composite having their worst day of the year, after China decided to raise tariffs on some U.S. goods as the ongoing trade war between the world’s largest economies intensifies.

The Dow Jones Industrial Average dropped 643 points, or 2.5%, and was on pace for its biggest one-day loss since Jan. 3. The 30-stock index fell as much as 719 points. The S&P 500 fell 2.7% while the Nasdaq dropped 3.5%

“I think this is a prelude of things to come,” said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. “We should expect more volatility for the foreseeable future.”

To stem the downturn, “you’d have to see China really come back to the table. The rhetoric we saw this morning tells you that’s not where they’re at,” he said.[/quote][/quote]

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