Tuesday, May 14, 2019

Donald Trump's China Tariffs Don't Apply to Ivanka

Mod: Donald Trump's ever increasing China tariffs are an onerous new tax that will be sucked right out of the pockets of most people when they buy a new computer or kitchen appliance. But if you're purchasing the couture of Princess Ivanka? That's different.

Donald Trump's China Tariffs Don't Apply to Ivanka (Fortune link): Despite her father’s rallying cry to “buy American and hire American,” 100% of Ivanka Trump’s fashion products were made overseas—at least until early 2017.

And now her goods are avoiding the sweeping tariffs enacted by President Trump in his trade war with China. On Friday morning, Trump implemented $34 billion in tariffs on Chinese goods ranging from auto parts to medical devices, according to the Huffington Post.

Clothing and shoes, like those imported by Ivanka Trump’s company, were spared. The Office of the United States Trade Representative explained that the goods to be levied with tariffs were chosen based on what would disrupt the U.S. economy the least and have the least impact on consumers.

Snopes, the fact checking website, pointed out that imposing tariffs would have a large impact on American consumers because 35% of all apparel imported in 2016 came from China. And 72% of shoes sold in the U.S. are from China, according to the South China Morning Post, citing the American Apparel and Footwear Association.

Many others in the U.S. are already feeling the effects of the tariffs. Soybeans, which represent a huge slice of American agricultural exports, are being targeted as well as cigarettes and dairy products, among other products.

GOP senator: Bankrupt farmers should be happy to 'sacrifice' for Trump (Share Blue link): Sen. Tom Cotton (R-AR) has a disgraceful new defense for Trump's unnecessary trade war: that it's fine if farmers are going bankrupt because their sacrifices are "minimal" compared to the sacrifices made by members of the military.

On Monday's edition of "CBS This Morning," Cotton was asked about a recent study showing farmers in Arkansas will be hurt by the trade war.

"Is President Trump hurting the Americans he promised to help?" asked anchor Norah O'Donnell. "There will be some sacrifice on the part of Americans, I grant you that," Cotton said. "But also I would say that sacrifice is pretty minimal compared to the sacrifices that our soldiers make overseas, that our fallen heroes who are laid to rest in Arlington make."

"You can't compare those two sacrifices," anchor Gayle King said, seeming taken aback that Cotton would try.

But Cotton doubled down. He claimed that farmers "look at the sacrifices soldiers, sailors, airmen, and Marines make around the world, and they're willing to bear some of the sacrifices in the short term, to hopefully in the long term ensure our long-term prosperity and security." It's worth noting that even the conservative Heritage Foundation argues Trump's trade war will cause long-term economic harm, not just short-term pain.

But even if Cotton's argument about "long term" sacrifices were accurate, his framing is insulting to both farmers and soldiers. It uses soldiers as political props, and trivializes the suffering of farmers.

$1.1 trillion in stock market value lost so far from trade war sell-off with more expected (CNBC link): Stocks plunged Monday on fears the trade war will now last longer and escalate further, damaging the global economy and crushing corporate profit growth.

Large cap stocks, or those in the S&P 500, have now lost $1.1 trillion since President Donald Trump surprised markets with the May 5 weekend tweets that said he was thinking of raising tariffs on Chinese goods.

As China retaliated against the latest U.S. tariffs Monday, the Dow and S&P 500 were both down more than 2% in their worst day since Jan. 3. Investors fled to bonds and other safe haven trades, like gold. Market strategists predict more pain for stocks ahead, as the market prices in a more extended view of the trade battle that looked to be just a skirmish a week ago.

Since his weekend threat, President Donald Trump forged ahead with higher tariffs on $200 billion in Chinese goods and says he will move forward with new tariffs on all China imports, goods totaling about $325 billion more.

sierramadretattler.blogspot.com

51 comments:

  1. Of course Donnys lil precious is exempt.

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  2. how sweet............most of the crap he's doing does not apply to him or his elite family / friends. just like when the govt. shut down.....he kept the govt employees at his hotel so they could continue the tower tours................in the meantime the coast guard went without pay..............his priorities are crazy because he only cares about himself.

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  3. Daddy’s girl gets what she wants. Daddy’s girl uses China not America for her clothing line nepotism and corruption as usual. Princess China Made.

    ReplyDelete
  4. Trump Tower Is One of NYC's Least Desirable Buildings

    https://politicalwire.com/2019/05/14/trump-tower-is-one-of-new-yorks-least-desirable-buildings/

    Bloomberg: “For anyone who owns a unit in the tower, the past two years have been brutal. Most condo sales have led to a loss after adjusting for inflation, property records show. Several sold at more than a 20% loss. By contrast, across Manhattan, just 0.23% of homes over the past two years sold at a loss.”

    “The commercial portion of the building has been struggling for months to find tenants for more than 42,000 square feet of vacant office space, despite advertising rents well below the area’s average, listings and data from real estate brokers show.

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  5. Judging by all of the pictures of her with her dad, I'd say Ivanka pays her tariff duty in booty.

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  6. Trump’s never pay taxes. Why should they start now?

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  7. Blatant, uncaring corruption.

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  8. It's all a train wreck and a half, why would anyone invest in a losers ponzi scheme anyway? https://www.bloomberg.com/news/articles/2019-05-14/trump-tower-is-now-one-of-nyc-s-least-desirable-luxury-buildings

    ReplyDelete
  9. The heavy Barr of justice is coming...Obama beware...

    ReplyDelete
    Replies
    1. Emphasis on the heavy.

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    2. Whaddabout guys brain firing enough for moronic posts.

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    3. Maybe he’s been eating a lot of stale cupcakes.

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  10. Time to take Obama's lead and weaponize the government in the other direction.

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    Replies
    1. Fascist fantasies abound amongst the Teanuts this morning. Using the Justice Dept. to go after your political enemies is the kind of thing they did in Nazi Germany, Herr Knucklehead. Move to North Korea if you like that sort of thing. Otherwise shut your ignorant mouth.

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    2. 9:24 - Why not go full Putin and poison people? Would that cheer you up?

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    3. Depends on the person...but it might.

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    4. The Teanut speaks.

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    5. You might qualify!

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  11. Comedian Tim Conway dies at 85 years of age; a legend in comedy.

    ReplyDelete
    Replies
    1. He was funny.

      No one remembers him

      Delete
  12. Hey, a girl's gotta look good. Apparel(ently) progressives and their Green New Deals promote nakedness with their transparency of hypocrisy.

    ReplyDelete
    Replies
    1. Do us all a favor, 10AM. Keep your clothes on.

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    2. Ewww, who would want to see her naked... all that silicone.

      Gross

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  13. US Attorney John Durham is reviewing Russian probe orgins and the Christopher Steele Dossiers orgins before the Horowitz investigstions of political motivation involvement.
    Learning about a lot of how the RUSSIAN investigations began and the DOJ involvement.

    ReplyDelete
    Replies
    1. The Steele Dossier is Trimp’s Reichstag fire.

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    2. Investigating the real truth cupcake, that your Democrats attempted a silent coup of a duly elected president which amounts to treason...

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    3. The real truth is being investigated in the House. You’re just parroting the garbage Trump is putting out to keep the nuts happy. Barr is going through the motions to keep the clown off his back.

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    4. “But Rush said!”

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    5. Pat Robertson said Jesus is going to testify against Obama.

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    6. For a lot of people Obama=Jesus.

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    7. We should know the oranges of the Investigation, and publicly release all of the testimony and records regarding Russian collusion and obstruction. Sounds like a great idea.

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    8. John Durham needs to investigate whatever trinket landed on his chin

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    9. So if this Obama slander from the meth right is such a big deal, why did Barr assign the case to an obscure DA from Connecticut? Why isn't Lindsey Graham running around in his tutu yapping about this bullshit on Capitol Hill?

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    10. Because you're a homophobe!

      Delete
  14. Ahh, the slime progressives are looking to climb under a bigger rock because AG Barr has begun the truth seeking investigations.
    Tarrified much?!

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    Replies
    1. Fascism under Trump is a threat, yes.

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    2. Socialism and collusion under Obama was criminal.

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    3. Even China isn’t ‘tarrified’, but trump’s trolls are.

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    4. Lol what’s so criminal about socialism?

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    5. 1:27 wants a bigger Social Security check. He drinks through his current one in 10 days.

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  15. President Trump is rebuilding the United States. Enen if the terriffs continue, what is the down side?
    If China balanced on insolvency and called back their currency from the United States it would be a win-win for our country.
    We would turn around and buy back our IOUs at a discount.
    * this is delivered at a fourth grade understanding of World finance for all those low level progressives out there.

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    Replies
    1. Nothing Trump touches lives. The downside is we now have an expensive new tax on a wide range of goods.

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    2. Speaking of 4th grade 10:23, is that the last year in school for you? Your spelling and claims substantiate that.

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    3. Uh oh, the terrif sheriff is back

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  16. The favor to all U.S. citizens would be to have everything "Made in America" keep America strong.

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    Replies
    1. Donald and Ivanka Trump make their junk in China. They’re both disgusting hypocrites.

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  17. It only gets better for (djt) in the state of New York who are wise to his deceitful methods of conducting business and with a personality of a crime organization boss.
    https://www.motherjones.com/environment/2019/05/new-york-threatens-to-fine-trump-because-his-buildings-pollute-too-much/

    ReplyDelete
  18. I am really loving the theme/design of your blog.
    Do you ever run into any browser compatibility problems?
    A handful of my blog audience have complained about my blog not working correctly in Explorer
    but looks great in Firefox. Do you have any advice to
    help fix this issue?

    ReplyDelete
    Replies
    1. I never run into any browser compatibility problems with your wife.

      Delete
  19. I wonder if Ivanka's hair dye and plastic nose came from China.

    ReplyDelete

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