How a full-scale trade war could slam Trump in 2020
President Donald Trump is doing everything he can to soften the economic blow of his trade battle with China, doling out billions of dollars in farmer bailouts and telling Americans that the Chinese are paying the tariffs he’s slapped on U.S. importers.
“It’s sort of like when you have a bad leak in a boat and you are trying to plug it up,” said Beth Ann Bovino, chief U.S. economist at Standard & Poor’s, of efforts to ease the pain of a trade war. “Water is going to win every time. The impacts from the trade dispute with China, especially if it snowballs from here, are going to be felt and there is going to be a lot of pain. And I don’t think the federal government can catch up to it.
Now he’s left with a fundamental reorganization of trade — especially the U.S. relationship with China — as one of his biggest unfulfilled promises. If he fails, the economy is likely to suffer as the stimulus from his tax cuts and spending hikes fades. Trump’s central political narrative so far has been that the tariffs he’s levied — now at 25 percent on over $200 billion in imports — are being paid by the Chinese, moneyto aid farmers now largely unable to sell soybeans, pork, sorghum and other products into the Chinese market due to retaliatory tariffs.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How The China Trade War Will Jump Start Digital ManufacturingFor companies in the digital manufacturing space, there's a silver lining to the dark cloud of the China trade war
Read more »
U.S. lawmakers lament: 'All of us are in the dark over here' on IranMembers of the U.S. Congress complained on Tuesday that President Donald Trump&...
Read more »
The dark side of work perks, and why we should regulate themWhile employees may enjoy work perks like free food, stock options and 401ks, it’s worth looking at them more critically, says Elizabeth Tippett, a former employment lawyer and professor at the University of Oregon School of Law. Tippett joined THINK to explain how companies use perks to control their workers.
Read more »
Netflix's 'The Society' Is The Best Teen Show Of 2019, And Here's Why You Need To WatchNetflix's 'The Society' Is The Dark Teen Drama I've Been Waiting For My Whole Life
Read more »
Tencent first quarter profit beats estimates as FinTech trumps mobile gamingTencent Holdings Ltd booked a 17% profit rise for the three months ended March, ...
Read more »
NASA photos show crash site of Israel's Beresheet moon landerNASA released a series of photos showing the crash site of Israel’s Beresheet moon lander, which smashed into the lunar surface April 11 after a malfunction caused its descent engine to shut down prematurely. - NBCNewsMACH
Read more »
Something appears to have ripped a hole in the Milky Way and scientists don’t know whatHarvard’s Ana Bonaca says there is evidence of a “dark substructure” in the Milky Way’s halo.
Read more »
The University of Maryland waited 18 days to inform students of a virus on campus.Investigation: In 2018, the University of Maryland became the epicenter of an outbreak of adenovirus, which can have symptoms similar to the cold or flu. The school waited 18 days to inform the campus. That decision left vulnerable students in the dark.
Read more »
How Venezuela's vice grip on the internet leaves citizens in the dark during crisesVenezuelans still in the country are dealing with the government’s efforts to remain in power and quell uprisings that threaten to remove President Nicolás Maduro.
Read more »