Trump: Tariffs having 'major effect' on China's economy

[DonViejo]

Source: The Hill

BY REBECCA KLAR - 07/15/19 08:51 AM EDT

President Trump on Monday touted the success of his tariffs on Chinese goods, saying that the taxes are having a “major effect” on the nation’s economy.

His comments, made via Twitter, come as new Chinese government figures show the country’s economic growth at the slowest it’s been in nearly three decades.

Link to tweet

China's gross domestic product grew at 6.2 percent in the second quarter, which ended in June, down from 6.4 percent in the previous quarter. It is also China's slowest quarterly growth rate since 1992, according to CNN Business.

U.S. exports to China were down 31.4 percent last month compared to the same time last year, The Associated Press reported last week.

Read more: https://thehill.com/homenews/administration/453042-trump-tariffs-having-major-effect-on-chinas-economy

[no_hypocrisy]

1. Tariffs won't effect a nation's economy if that nation can buy the same products from another

country that doesn't impose tariffs. China is buying soy beans from Brazil now, for example.

[tanyev]

2. .

[sinkingfeeling]

3. What a steaming pile of sh**!

[maddogesq]

4. Am I missing something?

China’s 2nd quarter GDP growth slowed to 6.2%, which is likely to be more than double ours. The Orange Blabber-Mouth doesn’t realize that China has still got the upper hand and as stated above, can take their bidness elsewhere.

How did someone so inept at macro-economics get through Wharton?

[pazzyanne]

8. Who said he did.

He attended Wharton, but has sued to keep his grades from being released. To me that does not equal a reputable degree from Wharton.

From a verifiedpolitics.com entry:

"The late Professor William T. Kelley, who taught marketing at Wharton for 31 years and had Trump in his classroom, said, “Donald Trump was the dumbest goddamn student I ever had,” in a conversation with his close friend Frank DiPrima. Kelley made the comment while Trump was already a public figure, but had not yet ventured into politics."

[Bradical79]

5. Any Economists here want to comment on this? I'm not seeing a huge effect

Yeah, lowest rate in 30 years is accurate, but looking at a longer term graph, it seems to me to have been in a steady decline for this past decade (from 10.6% in 2010).

BTW, I've never had a Macroeconomics course.

[RDANGELO]

6. What is the purpose of trade policy?

I would assume that the purposes of any trade policy is to enhance our economy, not hurt someone else's economy. The slowing of the Chinese economy could be the signs of a coming world wide recession.

This is another indication of Trump's lack of cognitive abilities and the fact that he was never fit to be president.

[turbinetree]

7. Hey traitor did you by some chance get off the Russian (FOX) tv and take a look at

Richard Engels story last night about China....................

And did you pay particular attention on the professor enabling the communist state on facial recognition ..................and he really doesn't give fat flying fuck.....................about privacy..........................