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Black Friday affected by trade frictions between China and U.S [Copy link] 中文

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Post time 2018-11-24 17:17:20 |Display all floors
This year, American consumers are facing higher retail prices on some items that are subject to tariffs caused by the China-U.S. trade frictions, dampening the holiday shopping season.

"Retailers may absorb the extra amount of money from tariffs, and that [money] will pass on to consumers…" said Britt Beemer, founder and chairman of consulting firm America's Research Group.

"Unfortunately with the tariff policy we have in place now, simple basics like T-shirts and underwear still have a pretty high tariffs and that hurts lower-income consumers the hardest,” said Jonathan Gold from the National Retail Federation.

That means some consumers will have less money for holiday shopping, which will accordingly damage the U.S. job market.

"When products cost more, people buy less of it. When people buy less of it, there's less demand. That means there's fewer people that would be employed getting that product into the marketplace. So based on existing and the proposed tariffs that are out there, several hundred thousand jobs will be lost in the U.S. economy,” said Gary Shapiro,  CEO of the Consumer Technology Association.

In September, U.S. President Donald Trump hit another 200 billion U.S. dollars' worth of Chinese goods with a 10 percent tariff after slapping 50 billion U.S. dollars' worth of Chinese goods with a 25 percent tariff in June.

As a response, China imposed additional tariffs on U.S. products worth 60 billion U.S. dollars starting from September 24.

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Post time 2018-11-24 18:38:48 |Display all floors
What goes around must come around.

Unless Peter Navarro and John Bolton are both fired, there is little prospect for improved relations between Superman and Voldemore, and so any embrace between the two at Argentina's capital will just be for show and not substance.

Unless one side is willing to put its signature on an humiliating 'deal' on the dotted line at Buenos Aires, nothing will come out of the negotiations.

While we hope for a win-win situation, the most likely outcome is either nothing or win-lose-lose, which of course is unacceptable.

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Post time 2018-11-25 08:42:15 |Display all floors
wchao37 Post time: 2018-11-24 18:38
What goes around must come around.

Unless Peter Navarro and John Bolton are both fired, there is li ...

I too am not sanguine anything will come out from Buenos Aires that will usher a reversal from the pits.

But the world should realize it will not be China's fault if nothing decisively positive comes out from the meeting.  

She didn't start the trade 'war'. It was initiated and is deliberately being prolonged by Trump and his ilk, furthermore on the fly and without coherence.

That you can conclude as much from the thousands of US importers seeking exemptions from the US tariffs on their China imports.

Trump is just a bad gimme gimme gimme boy redolent of the comic character dennis the menace.

He talked about closing the US trade deficit with China. What then if the US imports less from China but cannot itself produce the goods it has imported before from China? It will still have to import from other countries whose aggregate trade surplus will also not reduce the US' merchandise imports trade deficit.

He seems not to have a brain to think through first on anything. What is surprising is that his hangers-on who presumably have better developed rational thinking processes would have seen what he is trying to do is not sustainable for the good of not just the US but also the world.

Yet they egged, supported and supplemented him, whispering in his ears words he craves to hear out of some manifest prejudice against non-Whites. Therefore, they are doing it for their own personal agendas.

The bigger problem ahead is what to do with the grand canyon he has carved on technology adoption. The gulf is going to change the world's technology landscape.

Until Trump became Potus with his alt-right white supremacist agenda, the world was humming along, global best buys for price and volume, respectable earnings for cross-border research and development, cross-globe mobilzation of talents, diversified activities building economies, raising families and societies. If he had been a bit more patient, China and other developing countries would have raised their poor to enlarge their middle-income groups which would then become the very market that would have made a compelling case for US manufactures.

But instead he chose to be adversarial, and out of the blue, tarred China as a strategic rival. Hello, orange-hair - the world is round. Patience and cooperation, longer-horizon foresight and deeper understanding - these are the approaches to adopt. Not the cowboy-type trigger-happy knee-jerks from jerks who can only lie through their teeth and bluster to stab friends in the back.

Venom was a joint-effort by two movie production houses - Columbia US  and Tencent China.  The movie reflects what a US-China joint-effort can contribute to the world of entertainment.

What for movies, EVERYTHING else.

But no, Trump wants it all labelled USA exclusively. So what if it becomes so? Who can afford exclusively-made US products then, that is if they will even want any for the bullying treatment dished by US on their countries by now? Furthermore raising the prices on imported product parts which are tariffed will only raise the final cost of US products. How will that MAGA the household bottom-lines of millions of US citizens?

Someone wrote this explanation on trade deficits. Even Trump should be able to get it since he claimed he had graduated from Wharton:

"Y = C + I + G + (X-M). Then I could ask him what (X-M), net exports, is equal to. If he knew, he'd tell me [(Y-C-T) + (T-G)] - I = (X-M). In words, private saving plus public saving or national saving minus investment equals net exports. If saving is less than investment, net exports is negative. In other words, the US has a trade deficit. So how would you correct it? Since (T-G) is negative due to the federal gov't, you'd reduce the federal budget deficit. Maybe even have a budget surplus. What's Donald Trump doing? Exactly the opposite, that is, he's making the federal budget deficit greater."

Conclusion: he fumbled from the very beginning and will fumble to the very end.

Recommendation: China should not be dragged down. Just move on and leave him and his ilk to their delusions.

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Post time 2018-11-25 09:16:15 |Display all floors
Immovable rock will be meeting unstoppable force.

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Post time 2018-11-26 07:38:04 |Display all floors
markwu Post time: 2018-11-25 08:42
I too am not sanguine anything will come out from Buenos Aires that will usher a reversal from the ...

Human lives mean nothing when the western warmongers see a bigger gain through war

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Post time 2018-11-26 14:21:16 |Display all floors
This post was edited by loyalty09 at 2018-11-26 16:33
markwu Post time: 2018-11-25 09:16
Immovable rock will be meeting unstoppable force.

Agreed, selfish & stubborn man like Trump will eventually face harsher music if he insists on doing things unacceptable to general values of larger populations.

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Post time 2018-11-27 00:09:08 |Display all floors
Oh yes, it really does hurt

Black Friday pulled in a record $6.22 billion in online sales.

Online sales Black Friday jumped 23.6 percent from a year ago, according to a new report from Adobe Analytics.
The Friday after Thanksgiving this year was also the first day in history to see more than $2 billion in sales stemming from smartphones.
Cyber Monday sales online are expected to set a new record of $7.8 billion, up nearly 18 percent from last year.

Lauren Thomas        | @laurenthomasx3
Published 12:07 PM ET Sat, 24 Nov 2018
Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured. Mark Twain

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