The impact of Trump backing off on tariffs

The impact of Trump backing off on tariffs


AWAY, THAT THEY DON’T EVEN ATTEMPT TO DO THAT. THIS HAS GONE WAY FURTHER THAN THAT. WE’VE GOT DINENE BORELLI HERE, JOHN LONSKI, MAX BURNS. A QUICK PEEK AT THE CORNER OF WALL AND BROAD, I WANT TO GET YOUR GUYS’ THOUGHTS ON THAT, SO FAR OUR MARKETS ARE DEALING WITH IT. ONE THING THAT’S INTERESTING, JOHN, WE ARE DEALING WITH IT BECAUSE WE LIKE MAYBE THE TRADE BLINKING ON THE PART OF THE PRESIDENT, MADE THE TRADE OVERTURE ON HIS PART TO HELP THE CHINESE OR AT LEAST GIVE THEM SOMETHING TO AMELIORATE THIS HONG KONG, WHO KNOWS BUT IT DID PUT OFF TARIFFS ON SOME OF THE CHINESE IMPORTS THAT WERE GOING TO GO INTO EFFECT SEPTEMBER 1. THE MARKETS LIKE THAT.>>YOU CAN ALSO SAY TRUMP IS LISTENING TO THE MARKETS, YOU KNOW. HE WANTS TO KEEP THIS ECONOMY GROWING SO HE’S BACKING OFF A BIT ON THE TRADE FRONT. OF COURSE, THAT’S GOOD NEWS FOR U.S. EQUITIES. NEIL: WHAT DO YOU THINK OF THAT? IT COULD BE A GOOD OR BAD THING. WHAT DO YOU THINK?>>I THINK IT’S A GOOD THING. THE MARKET DID RESPOND BECAUSE OF THE ANNOUNCEMENT COMING FROM THE TRUMP ADMINISTRATION THAT THE TARIFFS, ADDITIONAL TARIFFS HAD BEEN SUSPENDED. SO REALLY, THIS GOES BACK TO THE PRESIDENT LOOKING OUT FOR THE FORGOTTEN MEN AND WOMEN IN AMERICA BECAUSE CHINA HAS BEEN GETTING AWAY WITH MANY, MANY YEARS OF CHEATING AND STEALING AND LYING AND NOW IT IS TIME TO CALL THEM OUT ON THEIR ACTIONS. NEIL: ALL RIGHT. BUT HE WAS THE ONE THAT MADE THIS OVERTURE, MAYBE FOR PERFECTLY SOUND AND VALID REASONS, THE MARKETS WERE GETTING WORRIED.>>WORRIED ABOUT THE SUSTAINABILITY OF THE CURRENT ECONOMIC RECOVERY. HE’S GOT TO KEEP THAT UNEMPLOYMENT RATE MOVING LOWER. NEIL: HE HAD TO KNOW THAT WOULD HAPPEN WHEN HE SUGGESTED THE TARIFFS IN THE FIRST PLACE.>>MAYBE HE THOUGHT THE RESPONSE WOULD HAVE BEEN MORE MUTED FOR WHATEVER REASON. BUT WHEN YOU HAVE MAJOR BANKS COMING OUT WITH UPWARDLY REVISED FORECASTS OF RECESSION RISK, YOU HAD THAT DROP IN TREASURY BOND YIELDS, MY GOODNESS, YESTERDAY FOR AWHILE, THE 30-YEAR TREASURY BOND YIELD WAS JUST UNDER THE FEDERAL FUNDS RATE. THAT’S RIDICULOUS. THAT SHOWS A LOT OF FRIGHT IN THE FINANCIAL MARKETS AS FAR AS THE OUTLOOK FOR THE U.S. ECONOMY. NEIL: AND GLOBALLY, RATES HAVE BEEN DECLINING. I’M WONDERING, DEMOCRATIC CANDIDATES MAYBE WITH THE EXCEPTION OF KAMALA HARRIS HAVE BEEN LARGELY SILENT ON THIS ISSUE. I THINK SHE WAS THE ONE WHO CAME FORWARD TO SAY IN THE LAST DEBATE THE FED HAD TO CUT RATES TO SORT OF CLEAN UP AFTER THE PRESIDENT, I’M PARAPHRASING, AND NO DOUBT THE FED MIGHT HAVE TO DO THAT AGAIN AND AGAIN AND AGAIN. I’M WONDERING HOW THIS DOES PLAY OUT POLITICALLY, BECAUSE THERE ARE A LOT OF DEMOCRATIC VOTERS WHO LIKE WHAT THE PRESIDENT’S DOING WITH CHINA. WHAT DO YOU THINK?>>THERE ARE VERY FEW PEOPLE IN THE COUNTRY THAT SEEM TO LIKE WHAT THE PRESIDENT’S DOING ON TRADE. CERTAINLY NOT THE FARMERS WHO HAVE SEEN THEIR CONTRACTS GO AWAY. NEIL: UNION WORKERS.>>WELL, I MEAN, THIS IS NOT JUST A FARMERS’ ISSUE. THIS IS CONSTRUCTION, THIS IS MATERIALS FOR INDUSTRIAL WORK — NEIL: WHY DON’T THEY SPEAK OUT MORE?>>THEY HAVE. THERE HAVE BEEN A FLOOD OF STORIES JUST THIS WEEK ON FARMERS, ON CONSTRUCTION WORKERS SAYING THEIR CONTRACTS ARE GONE. THESE ARE CONTRACTS THAT THEY WORKED ON FOR 10, 20, 30 YEARS TO BUILD TRUST. THOSE AREN’T GOING TO COME BACK WHEN THE TRADE WAR STOPS. NEIL: I’M NOT DISPUTING THE FACT THEY ARE CONCERNED AT ALL, BUT I THINK A LOT OF THE CANDIDATES THEMSELVES GET CONCERNED ABOUT MAYBE SUPPORTING THE FARMERS BUT BEING VERY LEERY OF TICKING OFF UNION VOTERS WHO INCREASINGLY DO LIKE THIS PRESIDENT. ARE YOU WORRIED ABOUT THAT?>>THE NUMBERS IN PENNSYLVANIA DON’T SEEM TO BEAR THAT OUT. HE’S UNDER WATER THERE BY 15 POINTS. SO THIS IS MUCH MORE I THINK DAMAGE CONTROL THAN ANYTHING ELSE FOR THE PRESIDENT. NEIL: WHAT DO YOU THINK?>>WITH REGARDS TO THE UNION WORKERS, LOOK AT HOW DEMOCRATS WANT TO IMPLEMENT THE GREEN NEW DEAL. WHAT IS THAT GOING TO DO TO JOBS, ESPECIALLY TO UNION JOBS AND RAISE ENERGY PRICES AND ALL THE OTHER THINGS THAT THEY WANT TO DO TO REALLY DISRUPT OUR WAY OF LIFE, AND BE MORE ONEROUS ON AMERICANS, HARD-WORKING AMERICANS, ESPECIALLY THE UNION WORKERS. JOE BIDEN, THE COAL FIGHT. COME ON, HE SAID YEARS OF NO MORE COAL IN USA AND HE’S STILL TRYING TO BRING BACK THAT MANTRA NOW. HE HAS A WAR AGAINST COAL AGAIN FROM THE PREVIOUS ADMINISTRATION.>>YOU KNOW, I WOULD GO AHEAD AND ADD, TOO, THAT THE DEMOCRATS WITH THIS ISSUE ON TRADE, WITH CHINA, INTELLECTUAL PROPERTY THEFT, SAID NOTHING ABOUT IT. THEY DIDN’T SEEM TO CARE MUCH THAT THESE COMMUNITIES IN PENNSYLVANIA, MICHIGAN AND OHIO, WHERE ELSE MANUFACTURING AREAS DOWN SOUTH WERE BEING CLOBBERED BY THE MOVEMENT OF PRODUCTION FACILITIES FROM THE UNITED STATES TO CHINA. THAT SHOULD HAVE BEEN AN ISSUE. MAYBE THAT HAD TO HAPPEN EVENTUALLY BUT YOU CAN’T IGNORE IT. NEIL: WHEN THEY WERE IN IOWA FOR THE STATE FAIR AND ALL THAT STUFF, THE FARMER THING, THE IMPACT THERE, WAS VERY PRONOUNCED. THAT WAS A BIG ISSUE. NOW THINGS ARE IMPROVING ON THAT FRONT WHILE ALMOST EVERY SECTOR, WE WILL BE RIFLING THROUGH A LOT OF THESE, FROM RETAIL DOING WELL, ALL DOW 30 STOCKS ARE UP FOR THE TIME BEING, BUT WHEN IT COMES TO A LOT OF THE ISSUES NEAR AND DEAR TO FARMERS, THEY’RE NOT DOING TOO WELL. A LOT OF CORN FUTURES DOWN, SOYBEAN FUTURES DOWN, WHEAT, BARLEY, DOWN. SO THERE’S OPTIMISM, TO YOUR POINT, ABOUT THIS GETTING RESOLVED, FUNNY WAY OF SHOWING IT.>>WE CAN TALK ABOUT WHAT THE GREEN NEW DEAL MIGHT DO TO THE ECONOMY OR WE CAN TALK ABOUT WHAT PRESIDENT TRUMP’S TRADE SCHIZOPHRENIA IS DOING NOW. THE BOND YIELDS AREN’T GOING DOWN BECAUSE I’M BUYING BONDS. INSTITUTIONAL INVESTORS — NEIL: I THOUGHT YOU WERE.>>– ARE FLEEING OUT OF THE MARKET FOR FEAR OF RECESSION. WE HAVE THE SMART MONEY AND LARGE INVESTORS ALREADY STARTING TO COVER THEIR POSITIONS FOR FEAR OF WHAT MIGHT HAPPEN. NEIL: ALL THAT MONEY IS COMING HERE FOR THE TIME BEING. WE ARE A SAFE PLACE TO PARK –>>THAT’S DEFINITELY THE CASE. AS THE FEDERAL RESERVE GOES AHEAD AND CUTS INTEREST RATES, THAT REDUCES THE COST OF HEDGING FOR THESE FOREIGN INVESTORS AND IT MAKES U.S. BONDS ALL THE MORE ATTRACTIVE RELATIVE TO BONDS FROM GERMANY THAT NOW HAVE A MINUS ONE HALF PERCENT INTEREST RATE. BONDS EVEN FROM THE UK WITH BREXIT, YOU KNOW WHAT THE INTEREST RATE THERE IS ON A TEN-YEAR BOND? ONE HALF OF 1%. WE ARE STILL WAY UP THERE AT NEARLY 1.7%. I THINK THERE’S A LOT OF ROOM FOR U.S. TREASURY YIELDS TO MOVE LOWER. I THINK WE WILL BE IN A RAGE EVENTUALLY. NEIL: WE DON’T HAVE A LOT MORE TO GO.>>HEY, 1.25%, 1.5% IS LOWER THAN WHERE WE ARE TODAY. I THINK THERE’S A VERY GOOD CHANCE THAT AT SOME POINT IN 2019, WE ARE GOING TO SET A NEW LOW FOR THE TEN-YEAR TREASURY YIELD GOING BACK MAYBE 50 OR NO, EXCUSE ME, LONGER THAN THAT, GOING BACK 60, 70 YEARS. NEIL: REALLY.>>YES. NEIL: POLITICALLY, THE PRESIDENT, YOU KNOW, IS TRYING TO SAY HE DID WHAT HE DID TODAY TO HELP AMERICAN CONSUMERS SO THEY WON’T BE SHOCKED, YOU KNOW, RIGHT BEFORE THE HOLIDAYS WITH THESE STICKER INCREASES WHICH IS THE FIRST TIME I EVER HEARD HIM QUASI-ACKNOWLEDGE THAT THERE IS A BILL FOR AMERICANS TO PAY AS A RESULT OF TARIFFS. HE HAS SAID WE DODGED THAT BULLET BECAUSE CHINA’S PAYING THEM. OF COURSE, THE TRUTH IS U.S. ENTITIES PAY THEM. IT’S HOW MUCH THEY CAN PASS ALONG TO CONSUMERS. WHAT DO YOU THINK OF THAT? THE PRESIDENT’S PIVOTING ON THIS ISSUE?>>I THINK HE’S REALLY PUTTING THE FACTS OUT THERE. I THINK THAT IS WHAT HIS SUPPORTERS LIKE THE MOST. FIRST OF ALL, WHO IN AMERICA, HOW MANY KNEW THIS ISSUE WITH CHINA WAS SO BAD? WHO KNEW THAT IT WAS $500 BILLION A YEAR WE WERE LOSING BECAUSE OF CHINA LYING AND CHEATING AND STEALING INTELLECTUAL PROPERTY — NEIL: WE WERE ALSO GETTING A LOT OF INVESTMENT HERE, ALSO.>>SURE. THAT’S RIGHT. NEIL: YOU LOSE THAT.>>I’M SORRY? NEIL: YOU LOSE THAT IF CHINA IS ALL OF A SUDDEN AT ODDS.>>BUT THE THING IS HOPEFULLY THIS IS A SHORT-TERM — NEIL: HOPEFULLY. BEEN GOING ON A YEAR AND A HALF.>>TRUE. BUT HOW MANY YEARS HAS IT BEEN GOING ON? THEY HAVE BEEN STEALING FROM AMERICANS.>>WELL, I THINK FROM THE POLITICAL PERSPECTIVE, THE IMPORTANT THING TO NOTE, TOO, AS I STATED EARLIER, THE DEMOCRATIC PARTY DIDN’T SEEM TO CARE ALL THAT MUCH THAT THESE PEOPLE WERE BEING LEFT BEHIND IN MIDDLE AMERICA, THE MIDDLE WEST, WHATEVER, AND THEY DIDN’T REALLY COME UP WITH IDEAS SUCH AS TRAINING PROGRAMS AND SO ON. TAKE MONEY FROM OTHER PROGRAMS AND PUSH IT INTO THESE AREAS SO THAT THESE PEOPLE COULD REESTABLISH THAT STANDARD OF LIVING THAT THEY ENJOYED FOR SO

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About the Author: Oren Garnes

100 Comments

  1. Trump is bending over and doing what ever the left wants him to do he is a real disappointment ! put more Tariffs on china we need to not do any business with China !

  2. Trump is going after China and still our economy is doing better than under Obama. Democrats are desperate and making themselves look stupid.

  3. Time to put Jamie Dimond out of a job. Clearly a Chinese communist party sympathizer and not an American Patriot.
    Wall street the 5th column for communist activists and the destruction of American and Western democracies. Just as we were warned about.

  4. In crises comes opportunity. Can't wait to buy more houses from financially unstable white folks. Bring on the recession cause I'll be sitting pretty in my pool drinking Rum.

  5. Come on, they're speaking about We the people of middle class who spent most of their lives in factory Production and construction. We the people just want a good job and good benefits to raise the next generation safe and under God. Trump 2020. 🙋‍♂️🏃‍♂️God bless

  6. Trump CAVES yet again. He Says himself new tariffs from 1st Sept, now the spiel is not until December. What a weasel, what a caver. what a big disappointment Trump has been. All bluff & Bluster. That and giving China the green light to send their troops in to Hong Kong, been a bit of a Win Win for China today.

  7. Max Burns is wrong, many support the President's policy with trade negotiations. These globalist hacks don't care about the American people.

  8. There may be a lot more to this story.. I'm convinced most don't understand the gravity of this situation. Let me illuminate. I'm convinced, Scientology is the greatest threat this country has faced since the Japanese & Nazi's of WWII. This Cult is not using military hardware like the Nazi's tried. They couldn't win that type of war & they know it. Scientology is using the tool that caused the Soviet Union to disintegrate, the financial weapon. 20 million deaths of Soviet military personnel didn't cause the Soviet Union to collapse, but an economic financial disaster did. And that's what Scientology is engineering for our country. Our nation is 22.5 trillion in debt while Scientology is unbelievably wealthy. Are you starting to get the picture? More detail is close at hand. We want you to know more.

  9. Atte Iván Alejandro Cortés Aceves
    La posición geográfica de México pieza clave para la Victoria RUSA y CHINA………. .. … . … .. . .. …..

  10. Please stand up and applaud, Comrades. 👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏

    We are living the history. We are privileged to have the SMARTEST President who is ruling over the Land. All hail the Great Genius 😎👌😂 Emperor! He can do no wrong, he is a Living God!! 🇺🇸😏✌️

  11. The tariffs are GREAT for the American economy—punish unfair trade countries like China who steal America's intellectual property.

  12. Of course he backs off on tariffs as h always does ad er he realizes his poor decisions are wrong and his uneducated guessing is miles off from what others are telling the stubborn mindless fool he should be doing. He is the king of backsliding, no surprise from the spur coward !

  13. India' s high tariffs on imported smart phones actually made India the world's 2nd largest manufacturer of smart phones. To avoid the tariffs Apple, Huawei and Xiaomi all moved their factories to India. Why cannot the US do the same thing? Just pick some critical products or areas and apply tariffs to all oversea manufacturers, so to force factories return to the US.

  14. Many, many other countries have some high tariffs to protect their manufacturing. China, Indian, they all are doing great! Only the US, a vast open market for world, for the rich to get richer, and middle class to lose jobs and suffer!

  15. "The advice nearest my heart and deepest in my conviction is that the Union of the States be cherished and perpetuated. Let the open enemy to it be regarded as a Pandora with her box opened; and the disguised one, as the Serpent creeping with his deadly wiles into Paradise." JAMES MADISON 1834
    "Verbis legis tenaciter inhaerendum"

  16. TAX CHINA 25% !!!!!!!!!!!!! If economy will collapse let it happen!!!! All the previous Presidents f*** it up inside out!!! Time to rebuild our country right way!!! Only Trump can fix all the mess !!!!!

  17. corn futures are down because, as usual, they screwed up the report of how much would be produced this year. this spring they said, no corn because of too much water, and probably it was global warming's fault. well now they found there is going to be much more corn than they thought, but that isn't global warming's fault. It isn't C02's fault either, even thought it is C02 that makes the plants grow. Russia and France have more wheat than they thought, Brazil has more soya beans than they thought. China will buy from someone else, or buy anonymously like they did a few weeks ago.

  18. i hate fox mistake for utube to rotate them from my favs. to be automatically next. constant brain washing and propaganda and infringement on what i want to watch.

  19. Maybe that's the reason he did it because the Fed was raising the rates when the economy is growing so this was a move by Trump to get the feds to cut the rates again

  20. BeWare the "Opinion" of Globalist Economists and Financial "Experts" > They have No Moral or Nationalistic Compass > Only Client $$ / their Bonus as their North Star.

  21. U.S. farmers lost their fourth largest export market after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports. Make no mistake fox flunkies, U.S. consumers foot the bill for Chump's import tariffs, not China.

  22. Why that scare if we have to pay from our pocket lets do it, why they don't talk is that we are feeding a monster and if we keep feeding is going to be so powerful that I don't mind if we have the same Ideology but those people are dictators, they do not believe in freedom like UK or France you don't understand the point that this is not economy issue this is national security issue China has a very dark agenda and we are helping them to attack us in the future, just for what ? because we cannot pay 10 dollars more for a product is amazing.

  23. Its absolutely crazy to worry about farmers. The farmers of America are VERY heavily subsidized. I live in an area of North Carolina that has tons of farmers. So let me tell you the truth. The farmers are doing quite well!

  24. I want POTUS Trump to keep up with the tariffs on China, like that beautiful Lady said China has been spying, cheating, and stealing, deal with it Now, or they will go right back to the same, don't increase it, but don't decrease it, get more deals like with the UK, go to Thailand, Vietnam, South & North Korea (sure Kim Jun Un) would love that, or our own back yard south America, there are plenty of options Left, nail China to the Wall.

  25. They suspended them because that would completely bring down the US. Not because he finally thought about the people.. What a load of crap

  26. Screw the Chinese, Trump caved for political reasons only, he is now a politician, not a businessman, so he now has to lie

  27. The Administration is currently stuck and lack a clear mission. So I will help them. Firstly tariffs are not what is required. We need to diminish imports some 10% per year. This will give these foreign suppliers a chance to redirect and give our new wealth creators the security to invest In plant and equipment. Tariffs can come and go but reductions offer a much more stable foundation. Stay away from tariffs in the long run.

  28. See how Neil comes rushing in to the aid of Communist Red China the largest most corrupt criminal Narco-State in the World..  Fox needs to bring in some new blood.  The American people that watch Fox News don't want this Wall Street spin anti Trump open border free trade crap in their living rooms…

  29. Trump’s petty moves on migrant workers look immature when you consider the thousands of acres of unpicked fruits and vegetables going to “rot” in the fields. I guess Trump’s newly found American prosperity don’t mind the Billions of Dollars needed to prop up the farmers because of their inability to find field workers…

  30. We have plenty of money to pay for the things we need to take care of our citizens, IF, we get back the TRILLIONS of dollars that the rich folk and the corporations hide in off-shore bank accounts, for the strict purpose of avoiding paying their fair share of U.S. taxes. I guess you repubs are ok with that. We can’t afford health care, but Amazon and GE and many, many others can make BILLIONS of dollars in PROFIT, not revenues, but Profit..and pay ZERO U.S. Income taxes.
    Then you absolute idiots want to cut more taxes for the rich and corporations, and then tell us we have to cut Social Security and Medicare because we can’t afford it. Republicans ALWAYS put party over country. You are all absolute idiots or traitors or both.

  31. OSWALD EPSTEIN T RUMP! PUTIN'S PUPPET!🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺🇷🇺 KIM'S LOVER 🇰🇵🇰🇵🇰🇵!🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵🇰🇵

  32. Trump said the tariff will not affect US consumers. Why delay to dec 15? Trump a big LIAR. Trump supporters r blind supporters.

  33. This is a huge mistake. The Chinese view this as weakness and will take full advantage. They now will assume, incorrectly, that Trump will lose in 2020. But still no trade deal until after the election for sure.

  34. The farmers have had a record rain,snow,flooding 2018/19 to begin with.The government needs to subsedize them while punishing China. Thats not how we do things but its the only way.

  35. Trump's "Art of Failing the Deal". Blink, blink, fail. Might is right, and Trump is no longer the might. It looks like China is.

  36. Demon and the talk to each other father's son's in business data hacking, stealing the American Propreitory Information. Worshipers of Lucifer and it's angels.

  37. Americunt the thief calling thief.
    China doesn't care Trump's delay on tariffs because China is becoming a domestic market economy.
    China is ditching USA for good

  38. Pathological liar trump is lying 2 the American people, the tariffs pathological liar trump put on other country’s products it will hurt & be more expensive on Americans especially trump supporters middle class & poor people, some trump supporters r on welfare & can’t afford all these expensive products. Pathological liar trump is hurting American farmers & stores etc. but no pathological liar trump won’t tell the truth 2 American people, instead trump just lies because some people r dumb enough 2 believe him. American companies don’t make a lot of products that other countries do make, clothes & shoes & toys etc.

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