Tag Archives: Trump’s trade war

Enumerati

More than Half of Price of ‘Made in China’ Products Goes to U.S. Workers, Businesses

56%

About 56 percent of what you pay for something “made in China” goes to U.S. workers and companies, on average, according to a new analysis released by the Federal Reserve Bank of San Francisco, the Washington Post reports. The rules are complicated, but “made in China” roughly indicates a good was assembled in a Chinese factory. Its parts, design, marketing and distribution may have come from anywhere — and that “anywhere” is often the United States.

Enumerati

GM to Slash 15,000 Jobs in Michigan, Ohio

15,000

General Motors said it will cut production of slow-selling models and slash its workforce by roughly 15,000 jobs, mostly in Michigan and Ohio, Reuters reports. “Cost pressures on GM and other automakers and suppliers have increased as demand waned for traditional sedans. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.”

Verbatim

EU Prez Made Trump Blink

“If you want to be stupid, I can be stupid, as well.”

— European Commission President Jean-Claude Juncker, quoted by the Wall Street Journal, telling President Trump that they “need to refrain from further punitive tariffs or they would foolishly harm themselves.”

Poetic Justice

Lord of Subsidies

Trump levies his tariffs, some say impulsively,
While the GOP allows it, albeit begrudgingly.
Amid the cries of the farmers,
Here comes Trump, loving Father.
What Trump taketh with tariffs, Trump giveth with subsidies.

Verbatim

Corker Amazed at Lack of Revolt in Congress Over Trump Trade War

“It’s hard to believe there isn’t an outright revolt right now in Congress.”

— Sen. Bob Corker (R-TN), quoted by Bloomberg, complaining about President Trump’s trade policies.

Enumerati

Trump Administration to Offer Aid to Farmers Hurt by Trump Trade War

$12 billion

“The White House plans to announce on Tuesday a plan to extend $12 billion in emergency aid to farmers caught in the midst of President Trump’s escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon,” the Washington Post reports. ”The funds will come through direct assistance, a food purchase and distribution program, and a trade promotion program.”