Confidence is soaring among small business owners. But one group of small business owners is becoming more pessimistic about America’s economy — small business manufacturers.
— Read on finance.yahoo.com/news/chamber-of-commerce-small-business-report-171855026.html
Tag: Tariffs
“It Would Be A Huge Shock To The Market” – What Happens If The Dec 15 Tariffs Kick In
“We could face a wild day”
— Read on www.zerohedge.com/markets/it-would-be-huge-shock-market-what-happens-if-dec-15-tariffs-kick
Dow drops 400 points after Trump says he could wait on China deal
U.S. equities slid on Tuesday after President Donald Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election.
The Dow Jones Industrial Average fell more than 400 points shortly after the opening bell, led lower by trade-vulnerable Apple, Caterpillar and 3M. The S&P 500 slid 1.2% amid losses in chip stocks like Nvidia, Micron and Advanced Micro Devices. The Nasdaq Composite also lost 1.3%.
Markets hit their lows of their day after Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “phase one” trade truce.
— Read on www.cnbc.com/amp/2019/12/03/stock-market-wall-street-in-focus-amid-south-america-trade-tariffs.html
Trump wanted to double China trade tariffs after latest retaliation
The president was outraged after he learned Aug. 23 that China had formalized plans to slap duties on $75 billion in U.S. products in response to new tariffs from Washington on Sept. 1. His initial reaction, communicated to aides on a White House trade call held that day, was to suggest doubling existing tariffs, according to three people briefed on the matter.
Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer then enlisted multiple CEOs to call the president and warn him about the impact such a move would have on the stock market and the economy.
— Read on www.cnbc.com/2019/09/03/trump-wanted-to-double-china-trade-tariffs-after-latest-retaliation.html
This right here shows that our government is owned by corporations! 🙄
Trade tensions impact Milwaukee port
He said grain exports from Milwaukee are way down. 80,000 tons have been exported this year. In a normal year, Milwaukee can export two or three times that amount. But Fleming said steel imports keep sailing in despite U.S. tariffs.
— Read on www.cbs58.com/news/trade-tensions-impact-milwaukee-port
Editorial: A Midwest plea to Trump: Do the China trade deal
The effects are not pretty. Factory output is down nationally, and manufacturing employment has declined in Wisconsin, Michigan and Pennsylvania — states that were crucial to Trump’s 2016 victory. A study for the Federal Reserve Bank of Atlanta calculated that the tariffs and trade friction “subtracted about 40,000 jobs per month from non-farm payrolls and about $259 billion in sales over the first half of the year.”
China & US agree to roll back tariffs on each other’s goods in phases – Beijing
China’s Commerce Ministry said on Thursday that an agreement has been reached with the United States to proportionally cancel existing tariffs between the two countries in phases.
— Read on www.rt.com/business/472822-china-us-agree-tariffs/
Trump’s Policies Could Spur Chinese Tech Innovation (video)
China Market Research Group Founder Shaun Rein explains how the trade war could cause Chinese companies to become less dependent on U.S. technology. He speaks
— Read on www.wsj.com/video/trump-policies-could-spur-chinese-tech-innovation/2B6866AD-F6C4-4B8A-917E-507BDF0209FF.html
US manufacturing survey contracts to worst level in a decade
“We have now tariffed our way into a manufacturing recession in the U.S. and globally,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
— Read on www.cnbc.com/2019/10/01/us-manufacturing-economy-contracts-to-worst-level-in-a-decade.html
The Smoot-Hawley Tariff and the Great Depression
Second, the farm sector would not be helped since “cotton, pork, lard, and wheat are export crops and sold in the world market” and the price of farm equipment would rise. Third, “our export trade in general would suffer. Countries cannot buy from us unless they are permitted to sell to us.” Fourth, the tariff would “inevitably provoke other countries to pay us back in kind against our goods.”
— Read on fee.org/articles/the-smoot-hawley-tariff-and-the-great-depression/
Farmers are going bankrupt, John Deere has layed people off, and China hasn’t been buying products.
Ms. Cat’s Chronicles 
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