2018 Sep 9, 1:44pm
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Sept. 7, 2018President Trump threatened China with another round of punishing tariffs on Friday, saying he was prepared to tax essentially all Chinese goods imported into the United States if Beijing did not change its trade practices.The threat comes as the administration prepares to move forward with another round of tariffs on $200 billion worth of Chinese imports, including many everyday consumer products like electronics and housewares.
Hey Leon, what do you think of the 2.9% annualized wage gain, the 200,000+ jobs created in the US last month, or the 50,000+ Canadian jobs LOST last month?
And why would I cheer a loss of jobs in Canada?
The war on Canada is clearly defeating China.
what do you think of the 2.9% annualized wage gain
The new deal with Mexico just eliminated that with a 85% NAM parts rule, and Canada had better sign on to the new program or face the consequences.
A massive net importer can't really be hurt to bad in a trade war, but the net exporters can.
I think it great save for the fact it is being offset by increases in the CPI of.....2.9% July 2017 -July 2018 # treading water.
From what I've read, Canada is good with the NAM parts rule and other automotive related aspects of the US / Mexico deal. Assuming that Canada is actually importing Chinese goods and exporting them to the US, it doesn't change the fact that China will still have a massive trade surplus with the US.
Is that worse than Obama's average net wage gain over a 1980-2000 base line
I don't know but I was expecting Trump to MAGA and we get projected deficits in the trillions and no increase in the average purchasing power of American workers (so far). I do like the higher stock market that he no longer claims credit, knowing full well there will be a deep correction or bear market at some time for which he will be blamed. But let's be honest, Presidents get the blame and credit for the economy of which they don't have as much impact on as is commonly attributed. They are a factor, but with some possible exceptions not generally determinative.
TwoScoopsOfSpaceForce saysA massive net importer can't really be hurt to bad in a trade war, but the net exporters can.True, and Trump is well aware of our excellent leverage over the Chinese. If we stop buying their stuff, maybe we have to pay more for domestically made substitutes, but that also leads to new jobs in the US. They on the other hand face massive social unrest if their factories stop employing people.Our factories have mostly been closed already because of the shift to China. Re-opening them is not such a loss.
Increased wages begins by shutting down the unfair trade, powered by Outsourcing (itself ONLY possible due to low Tariffs) and mass immigration (to make sure there is never a scarcity of workers to create competition and thus raise wages). So it's ongoing.It's gonna be a while, but things are already looking up.
Nothing about cheering - it's about "Who would win the Trade War". Right now the Trade War doesn't seem to be hurting the US with Job Expectations thoroughly beat to the positive last month. I thought a trade war would hurt the US?
Not really--one month does not a trend make.The jobs created trend is the same as it's been since 2012 and the real wage trend is worse.
The headlines for the August job numbers released this morning are nothing but good. Employers added a robust 201,000 jobs, the unemployment rate remained at the rock-bottom level of 3.9 percent, and wages grew the fastest they have in nine years.There’s no doubt that this is the best economy in quite a long time for American workers, who by a wide range of measures can find a job more easily than they have in a decade …But the fact that higher pay raises are finally showing up in the data is another piece of evidence that employers are coming up against the limits of the labor force. Just maybe, after years of trying every recruitment technique other than raising hourly pay, employers are starting to turn more to that option.
Rural employment grew at an annualized rate of 5.1 percent in the first quarter. Smaller metro areas grew 5.0 percent. That’s significantly larger than the 4.1 percent growth seen in large urban areas that recovered earlier from the Great Recession, according to an analysis by the Brookings Institution’s Metropolitan Policy Program of a separate set of Labor Department data released on Wednesday.In the past year, the economy has added 656,000 blue-collar jobs, compared to 1.7 million added in the services sector. But the rate of growth in blue-collar jobs is speeding up, while service-sector job growth has hovered around 1.3 percent over the past year.
From the NYT, of all places: