China will place tariffs on U.S. goods beginning Sunday

China will place tariffs on U.S. goods beginning Sunday


ELIMINATE ALL SMALL SUB, SHAMPOO AND CONDITIONER BOTTLES FROM ITS ROOMS ACROSS THE GLOBE. THEY SAY THEY WILL DO SO BY THE END OF NEXT YEAR. >>>AND FORTNIGHT STAR TYLER NINJA BLEVINS HAS SIGNED A NEW MULTIYEAR DEAL WITH ADIDAS AFTER SPLITTING FROM TWITCH. THERE AREN’T ANY SHOES OR CLOTHING FOR SALE GET. THE AGREEMENT COULD RESULT IN PRODUCTS WITH PHYSICAL AND DIGITAL WORLDS. >>>THIS SUNDAY, THE U.S. WILL IMPOSE THE FIRST ROUND OF TARIFFS ON $300 BILLION WORTH OF CHINESE GOODS. WITH EVERY AMERICAN CONSUMER ABOUT TO POTENTIALLY TAKE A FINANCIAL HIT FROM RISING PRICES, WILL THAT DUE TO OUR ABILITY TO SAVE? JOINING US NOW IS BILL HOAGLAND. THE SENIOR VICE PRESIDENT AT THE BICE PARTISAN POLICY CENTER. HE IS PART OF FUNDING OUR FUTURE. AN ORGANIZATION WE FEATURE EVERY WEEK HERE ON YAHOO FINANCE. BILL, WELCOME. I WANT TO POINT OUT THAT YOU WROTE AN OP-ED IN USA TODAY WHERE YOU POINT OUT YOUR CONNECTION TO THE AGRICULTURAL INDUSTRY, THE SOYBEAN FAMILY FARM IN INDIANA. AND OBVIOUSLY YOU HAVE SEEN SOME DIRECT EFFECTS OF THE TRADE WAR. FIRST OF ALL, LET’S TALK ABOUT THAT FOR A MOMENT BEFORE WE BROADEN IT OUT. I’M CURIOUS, WHAT EFFECT IT HAS HAD ON YOUR FAMILY AND THE FOLKS WHO WORK THERE ON THE FARM. >>WELL YES. THANK YOU. GOOD TO BE WITH YOU THIS AFTERNOON, JULIE. I GREW UP ON A FARM. A FAMILY FARM THAT HAS BEEN IN THE FAMILY FOR OVER 100 YEARS. IT IS CALLED HOOSIER HOMESTEAD FAMILY FARM. IT IS NOT A LARGE FARM. A COUPLE HUNDRED ACRES OUT THERE. I HAD FOUR BROTHERS, MY OLDEST BROTHER CONTINUES TO FARM IT. WHAT YOU’RE LOOKING AT ON THIS PICTURE RIGHT NOW IS A FIELD OF SOYBEANS THAT WE GROW ON THE FARM. SOYBEANS OF COURSE HAVE BEEN A BIG ISSUE IN THIS TRADE WAR AND SOYBEANS HAVE BEEN A BIG IMPORT INTO CHINA OVER THE LAST MANY YEARS. AND LITERALLY, BEGINNING LAST YEAR IN 2017, WHEN THE FIRST TARIFFS WERE PUT IN PLACE, IT WAS A [NULL]-FOR-TAT IF YOU LIKE IN TERMS OF THE CHINESE SAYING THEY WOULD STOP PURCHASING SOYBEANS FROM THE UNITED STATES. AND LITERALLY, SINCE 2017, WHEN IT HIT A HIGH MARK IN TERMS OF EXPORTS TO CHINA FOR SOYBEANS, SOYBEAN EXPORTS TO CHINA HAVE DECLINED 75% FROM THE UNITED STATES. THAT IS A HUGE REDUCTION IN PRODUCTION AGRICULTURE IN THE UNITED STATES. AS A CONSEQUENCE, INITIALLY, THERE WAS A MAJOR DROP OFF IN THE PRICE OF SOYBEANS. AND GOOD PRODUCERS IN AGRICULTURE PRODUCING STATES WILL CONTACT I HAD. IT COULD AVOID SOME OF THAT DROP OFF. BUT AS WE GO FORWARD INTO ANOTHER ROUND OF THIS, WE CONTINUE TO HAVE THIS UNCERTAINTY. MORE DIFFICULT THIS YEAR FOR MY FAMILY FARM WHERE I GREW UP, IT IS WE HAD A VERY WET SPRING. AND SO THERE WAS A DELAY IN PLANNING. A LARGE DEGREE OF HOLDING BACK AND PLANNING. AND AS A CONSEQUENCE, THE PRODUCTION AT THIS PARTICULAR STAGE IS WHEN THE PODS ON THE BEADS WERE BEING PRODUCED. THEY ARE NOT PRODUCING QUITE AS WELL BECAUSE OF LATE PLANNING. AND THAT WILL REDUCE THE PRODUCTION. SO ALL OF THIS IS ADDING TO THE STRESS THAT IS IN THE AGRICULTURE SECTOR. THROUGHOUT THE MIDWEST AND INCREASING THE NUMBER OF CHAPTER 12 FILINGS OF FARMS GOING OUT OF BUSINESS. IT IS AN IMPORTANT ISSUE. >>IT IS. IT IS AN ISSUE THAT MORE AMERICANS ARE GOING TO NOW BE FEELING AS WE SEE THE NEXT ROUND OF TARIFFS GOING INTO EFFECT ON SEPTEMBER 1. THUS FAR, WHEN YOU TALK TO ECONOMISTS, THEY HAVE SAID THAT THE EFFECTS COULD BE NOT HUGE AT THIS POINT. BUT WHEN YOU’RE LOOKING AT PEOPLE’S ABILITY TO SAVE, HOW DOES THIS AFFECT THAT? >>OF COURSE IT ADDS TO THE UNCERTAINTY OUT THERE. WE SEE THE VOLATILITY IN THE STOCK MARKET. WE SEE THE UNCERTAINTY GOING FORWARD. IT CREATES UNCERTAINTY FOR WHAT YOUR SAVINGS ARE GOING TO RETURN. THAT YOU’RE PUTTING IN. WE HAVE SEEN RIGHT NOW, WE SEE VERY LOW INTEREST RATES. I THINK WE HAVE HIT TODAY THE LOWEST 10 YEAR RATE IN ALMOST, IN MANY YEARS. SO THIS UNCERTAINTY THAT IS CREATED BY ALL OF THIS VOLATILITY MAKES IT DIFFICULT FOR SAVERS. I TAKE THE POSITION THAT PARTICULARLY FOR THE YOUNG PEOPLE, FOR MILLENNIALIST, REMAIN CALM. YOU ARE IN FOR THE LONG-TERM. IF YOU’RE HERE FOR RETIREMENT, IN THE EARLY STAGES OF YOUR LIFECYCLE IN TERMS OF WORKING TO CONTINUE TO SAFE, CONTINUE TO MOVE FORWARD. RIDE OUT THIS VOLATILITY. OVER THE LONG-TERM, YOU WILL BE BETTER OFF BY JUST REMAINING COMMENTS NOT MAKING RUSTIC DECISIONS TO MOVE YOUR SAVINGS AROUND. STAY SAFE GOING FORWARD. FOR THOSE WHO ARE CLOSER TO RETIREMENT, I WOULD SUGGEST, I AM NOT A FINANCIAL ADVISOR BUT I DO HAVE ONE MYSELF. I WOULD STRONGLY RECOMMEND TO TALK TO YOUR FINANCIAL ADVISOR. YOU MIGHT WANT TO REBALANCE BUT AGAIN, REMAIN CALM. WE HAVE VOLATILITY. WE WILL HAVE VOLATILITY. BUT REMAIN CALM. WE BALANCE YOUR ASSETS AND MAKE SURE THAT THEY ARE SAFE GOING FORWARD. IT IS A CONCERNING PERIOD. BUT OVER THE LONG-TERM, I BELIEVE PEOPLE ARE BETTER OFF TO JUST CONTINUE TO SAVE AS BEST AS THEY CAN. THEY HAVE TO CUT BACK ON SOME OF THEIR CONSUMPTION. I DON’T KNOW. BUT MAYBE A LITTLE LESS COFFEE CONSUMPTION. BUT DON’T PANIC. ITHINK THAT IS THE MESSAGE I WOULD COMMUNICATE. >>SO IF YOU WERE TO HAVE AN OPPORTUNITY TO MEET MR. TRUMP, WHAT WOULD YOU TELL THEM, BEING A FARMER YOURSELF? >>WELL, I WOULD TELL THEM PROBABLY THAT, LET’S BE FAIR ABOUT THIS. THE AGRICULTURE FARMERS ARE BASICALLY PATIENT PEOPLE. THEY HAVE TO BE. THEY DEAL WITH THE WEATHER. THEY DEAL WITH INSECTS. IT IS JUST A VERY DIFFICULT OCCUPATION. IT IS OVER THE LONG-TERM. THEY ARE PATIENT. THEY WILL REMAIN PATIENT. BUT I WILL SAY THAT IF THIS TRADE, THIS [NULL]-FOR-TAT CONTINUES, IF WE CONTINUE TO HAVE MORE TARIFFS THAT ARE RETALIATED AGAINST, HITTING THE AGGIE SECTOR, I THINK THE CHINESE ARE VERY CLEVER IN THIS REGARD. THEY ARE LOOKING SPECIFICALLY AT WHERE THE RED STATES ARE. THOSE ARE THE PRODUCTION STATES. AND THEY ARE SENSING THAT THEY MAY HAVE SOME ABILITY TO IMPACT IT BY HURTING THAT PARTICULAR SECTOR. I WOULD SAY TO THE PRESENT, I WOULD SAY YOU HAVE TO GET TO THIS THING RESOLVED QUICKLY. PROVIDES SOME ASSURANCES GOING FORWARD. TO GET US BACK IN THE MARKET. I WILL ALSO SAY, UNFORTUNATELY I WOULD HAVE TO SAY TO THE PRESIDENT, I THINK THE DAMAGE HAS BEEN DONE. I, I AM GOING TO CONNECT SOMETHING HERE THAT MAYBE I SHOULDN’T BUT I WOULD SAY THE FACT THAT THE BRAZILIANS ARE BURNING THEIR RAIN FOREST FOR THE PURPOSES OF INCREASING THE PRODUCTION LAND, THEY ARE GOOD SOYBEAN PRODUCERS. THEY CAN COME IN AN

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19 thoughts on “China will place tariffs on U.S. goods beginning Sunday”

  • One that is seldom talked about is US companies in China are generating revenue of over $350 billion annually (and with profit generated growing at 11% compounded yearly) selling to the Chinese market, and US service trade surplus with China of $50 billion. Combined greater than the merchandise trade deficit of the US vs China.
    Other Chinese, Asian and European companies are waiting to take over these when the time comes for China to squeeze these two sectors.

  • Hopping Rabbit says:

    Americans don't save anyway. They also largely don't own stocks. Funding our future my ass. More like funding this geezers future.

  • Save ? xahxahxahaxhxahaxhaxhaxaxhxahaha Ability to Save axhaxhaxhxahxahxah( NEGATIVE INTEREST RATES) SAVE ? WHAT ARE YOU SMOKING MADAM, GIVE ME SOME OF THAT STUF.

  • China will place tariffs on U.S. goods beginning Sunday
    Great! Super! Fantastic! Now if someone can explain to me what American's selling goods to communist could be seen as a good idea in the first place.
    Me I rather not give the bad guy's the time of day, never mind trade with them….it is 'stolen goods' after all…
    What did you think they did with all that stolen intellectual property teft…that's right…only try to sell it back to you…dumb!!!!!

  • China will place tariffs on U.S. goods beginning Sunday
    Great! Super! Fantastic! Now if someone can explain to me what American's selling goods to communist could be seen as a good idea in the first place.
    Me I rather not give the bad guy's the time of day, never mind trade with them….it is 'stolen goods' after all…
    What did you think they did with all that stolen intellectual property teft…that's right…only try to sell it back to you…dumb!!!!!

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