What’s Happening With Trump’s Trade Fights? | WSJ


– If you’ve taken a nap at any point in the last couple of months, there’s a good chance you’ve missed at least one US threat to impose tariffs on hundreds of billions
of dollars of US imports. – Tariffs are a a beautiful thing. It’s a beautiful word. We’re gonna put tariffs on them. Those tariffs were ready
to go on Monday morning. We always have the option to raise it another $300 billion. – As part of the President’s efforts to rewrite the global rules of trade and rebalance our trading relationships, he’s imposed tariffs on almost
every country in the world over the past year and a half. That includes our
biggest trading partners, China, Canada, Mexico, and Europe. Recently, a lot has been happening. We’re going to try to
bring you up to speed. So let’s start with our
biggest trading partner, China. The US imported about $540 billion of goods from China last year and exported about $120 billion, making it the biggest trading relationship of any two countries in the world. One of President Trump’s big goals is to balance this relationship out. Last summer, he slapped
25% tariffs on goods like machinery, commodities,
semi-conductors, and plastics. China retaliated, mostly on vehicles and
agricultural products, especially soy-beans. The US hit back in the fall. This time, with 10% tariffs
on an additional $200 billion worth of products,
furniture, handbags, luggage, and many computer and auto parts. China once again retaliated. In December, the US and
China called a truce but it didn’t last. The talks broke down in May
and the US moved forward with plans to raise
those 10% tariffs to 25%. China retaliated and
then the US threatened to impose tariffs on everything else that comes in from China, an additional $300 billion of goods. So where do things stand now? President Trump and China’s
President, Xi Jinping, held a summit on June 29th where they reached a truce for now. – We’re going to work with China on where we left off to
see if we can make a deal. – The US will hold off on
its final round of tariffs but all the original rounds
of tariffs will still remain and if they can’t get a deal, it’s likely we’ll be talking
about tariffs again soon. But the trade tensions
haven’t just been with China. Canada and Mexico have also
been in the US crosshairs. – I have long contended that NAFTA was perhaps the worst
trade deal ever made. – About $600 billion a year worth of trade flows between Canada and between Mexico and the United States each year. One of President Trump’s
big campaign goals was to rewrite the 25-year-old North American Free Trade
Agreement, or NAFTA. The talks started in 2017 but last year, when they weren’t making
progress quickly enough, President Trump imposed tariffs on steel and aluminum imports from everyone in the the world, including Mexico and Canada and to further up the
pressure he threatened tariffs on the entire global automobile industry, about $372 billion worth of imports. Last summer, the three countries
finally reached a new deal. The US-Mexico-Canada agreement. – Called USMCA, sort of just works, MCA. – But the deal doesn’t go into effect until all three countries
have ratified it. So far, only Mexico has done so. To ease the road to getting it passed, the US did two things. First, it dropped the
threat of auto tariffs against Canada and Mexico and second, in May, it finally removed the tariffs against steel and aluminum and Mexico and Canada
removed their tariffs too but then, things got complicated. – Mexico shouldn’t
allow millions of people to try and enter their country and they can stop it very quickly and I think they will and if they won’t, we’re
gonna put tariffs on them. – President Trump,
citing too many migrants are arriving at the US-Mexico border, threatened tariffs on everything
the US imports from Mexico, about $350 billion a year of goods. – Those tariffs go from
5%, to 10%, to 15%, to 20%, and then to 25%. – Mexico rushed to delegation to DC, pledged to do more at
its own souther border to stop the flow of migrants and avoided the threat of tariffs for now. But President Trump has made it clear that the threat remains and will be revisted within 90 days. But when it comes to
trading relationships, there’s an even bigger one
that’s still unsettled. We’re talking about Europe. – If you look at the European Union, it’s very solidly against
us in terms of trade. – The European Union sets trade policies for all its member countries so collectively, the US imports
about $500 billion a year of goods from the EU and exports about $320
billion making the US in new trade the biggest trading
relationship in the world. Remember those steel and aluminum tariffs? Yeah, they still apply to Europe and there’s a couple big
threats still hanging out there. First, autos. – They send the Mercedes. They send BMWs. They send everything. We tax them practically nothing. We can’t send our cars. – The US imports a lot
of cars from Europe. For now, the Trump administration has postponed the threat of
auto tariffs until November, but not removed it. There’s also a threat of tariffs because of a long running dispute between Airbus and Boeing. The EU and US have each threatened $11 billion of tariffs because of this. Negotiators here aren’t
making any progress and the Europeans are getting worried. President Trump has already shown he’s willing to threaten tariffs against everything the
US imports from China and everything the US imports from Mexico. Put it all together and there’s over $2.5 trillion of trade
hanging in the balance. So far, the Trump Administration hasn’t gotten any major
trade deals across the line and so the worry is that they
could keep adding tariffs. A billion dollars here and
a billion dollars there and pretty soon, you’re
talking about real money.

100 thoughts on “What’s Happening With Trump’s Trade Fights? | WSJ

  1. Remember Children to brush your teeth, say your prayers, and VOTE>

    Now I lay me down to sleep. I pray the Lord my soul to keep. If I should die before I wake, I pray to God my soul to take. If I should live for other days, I pray the Lord to guide my ways.

  2. If the US consumes more than it produces you got a trade deficit obvious.
    And the reason Europe doesn't import a lot of US cares is because there to big and not very gas friendly.

  3. Trump attacks allied countries with tariffs. At the same time, Russia is a US national security risk but Trump has nothing but good things to say about Putin. Question is why?

  4. Gee, I always thought Canada and the U.S. were the worlds' two largest trading partners. I think this guy is wrong, but I could be be wrong, eh?

  5. One person can not deside about trade for USA it have to be in evry region county district city more Attorney who have expert with experience knowing

  6. Yesterday the us SM dropped approx 800 points. I'd say just a few weeks before the 2020 election, the us economy will be in recession.

  7. Sound like OUR PRESIDENT Donald Trump is working for the good of America. If they will not trade with America fairly then we will put tariffs on them . Sounds good to me. NAFTA was always a bad deal for Americans it’s proven. So PRESIDENT TRUMP wants to improve our trade deals let him do it. WSJ could stand behind our President for a change that would help . Ps I stopped reading the wsj YEARS AGO that’s a fact.

  8. Screw every 70,000 US companies that went to China seeking cheap labor at our expense. Do they want to avoid tariffs return to the USA boys stop complaining.

  9. Soon there will be tariffs on everything and everybody until America tariffs itself out of business.

  10. Why this long diatribe without explaining that these tariffs are paid by Americans, not the exporting countries.

  11. Whoever gets in 2020 has a crapload of work to do to get America on track again,Trump is driving America straight into the ground and milking it completely dry,I wouldn't even be surprised by the end the year America is in dept and struggling and nobody is gonna help them

  12. Why is the Wall Street journal recognizing China’s disputed territories in the South China Sea.

  13. This stupid Trump is putting American people's investments, savings ans pensions at risk. He is going to bankrup America like he has done with many of his businesses.

  14. Wait … so this video doesnt have anything to add that Trump.didnt announce? What have i just watched?

  15. A billion and a billion there, so far more than USD 500 Billion collected by Trump, and win, win and win. If Trump goes like that Democrats is finished, and he wins, again and again,n and agin…what to do? Please, Trump, stop collecting tariffs, we have enough, please stop winning…Trump did prophesy, You will get tired after I win, win and win…

  16. "Wall Street" – talk about truth in advertising. Let's just dig up Jeffrey Epstein or Ivan Boesky and let them set trade policy.

  17. The President Trump is right. If you want to sell in America you make it here or pay tariffs. Put the Americans back to work

  18. We need the Americans to work. No more help for illegal immigrants and to use that money to the retired citizens of America

  19. In the early stages of this developing global tragedy, I warned of the possibility of contagion. I was roundly rebutted that since the amounts were small, there would have no significant effect. We are now on the cusp of the greatest downturn in recorded history. Not all Thump's fault, but he is an economic imbecile. Wharton, how could you have awarded this clown a degree?!

  20. Please,Wall street.personaly Japanes.Osaka Area stroy.
    money Not game, Not Move,to Flat. Better Top level.
    3year 's ago.

  21. We have people like swift boat John Kerry and Ex Obama following and going behind Trumps back telling China , Iran and Heaven knows who else to hold off till 2020 elections, that's why China changed it's mind last month on the trade deal and now dragging their feet.

  22. “AMERICA THE BEAUTIFUL” The Greatest Nation on Earth   One Nation under GOD,indivisible, with Liberty and Justice for all.
    Thank you Mr. President Trump. Good News, Chinese people love you.  But the Chinese Communist Party (CCP) evil-doers hate you.   The real truth behind The CCP–IN SATAN THEYTRUST. The CCP falsely claim they are Chinese.
    Bible said about them, “They are a group belong to Satan.” (Re2:9) The Murderer & the Liar (John 8:44) The Lawless One–The CCP is killing and robbery.                                                                                   .           
     God’s Word reminds us: 2 Thessalonians 2:7-9 -For the secret power of lawlessness is already at work…
    Let’s unite together with Hong Kong brothers and sisters doing the God’s will arise to do good — We Must Stop the Evil CCP-It wants to kill all people!

  23. Ephesians 5:11, Ezekiel 33:7-9 (Almighty God the Creator is calling us to Expose the Evil CCP) – We must expose the Evil CCP and save lives.        

    Almighty God—My Shepherd: Unveil the Truth of the Evil CCP's Public… almightygodmyshepherd./YouTube…
    and lets the world see more clearly its bloodthirsty devilish essence. … the
    CCP to the hatred  of the Church.   …the CCP's murderous devilish nature can
    also be seen. … China is the CCP’s world. All the rights of the Chinese have
    been communized by the evil CCP. Our property has been communized, our freedom
    of speech has been communized, our lives have also been communized… This
    is because the CCP devil has said, “We got the regime at the cost of twenty
    million heads. Whoever wants to grab it from us has to exchange it with twenty
    million heads!” Therefore, the CCP will not retreat from the stage of the
    history of its own accord. It wants to kill all people!

  24. Is it possible that usa wouldnt of been as strong if their companies didnt use chinas cheap labor?

  25. Could it be to try to raise consumer spending and so raising gdp so he could get re elected?

  26. Dude, China is not a trading partner, they are thieves of all things great mind countries discover. So they steal from US and then make low grade products cheaper.

  27. So basically tariffs are a sneaky way to raise taxes without actually calling it that or going to congress for tax increases. Very sneaky and very stupid 🤮

  28. Why dont you say, Europe provides subsidies to their domestic companies which makes American companies incompetent to gain European markets while US takes european products on free trade deal. This is not fair. Stop making the US look bad. Why don't you report on these things?

  29. we stand with not being cheated, and Trump has established that. I wouldn’t trust Wall Street as far as I can throw them.

  30. Push comes to shove, and you don’t want to loose the soil from underneath your feat, and don’t want to become slave to another take control of your own Countries! And start putting all money 💵 into your own Country Farming that’s a big start! And don’t trade! Even if it starts a War! Cause the War started years ago back when use lost your jobs to Trading with foreigners??? Who taken your jobs who pushed your Economy into a recession???

  31. There was reason why God separated the World into different Countries? Simply so we don’t have to deal with Violent nasty inhuman people! Who love Money 💰, Power, Greed?

  32. All these tariffs are just tax revenues going to the government. Trump calls it tariffs against China, EU, Canada and Mexico but it's really taxes on Americans.

  33. If you think these Trump Tariffs are good, you're just plain stupid. Dump could still negotiate first, Tariffs later. Imagine farmer's unable to sell their soybeans or corns ever again. Imagine that.

  34. It's not all about the money with china. they don't really need America. or anyone else. China got into weapons and played the America game. But china been a country way longer then America- history. Blame the democrat for selling America. Asia is a big country. with small friends and they all will come together. Against. America. HOW DEEP DO THE RABBIT HOLE GO. Money is what the smaller people understand. And thats the game there gonna give you. America head true leaders are at the bottom of the rabbit hole. want nothing affect them. There just be a war. And start over.

  35. Welcome 2020 the economy recession, thanks Mr. President's strategy- the trade war.

  36. China is addicted to US dollars, trade is just one factor, go to China the farther you go to the interior of the Country you can see empty Cities build by the government , forcing their own citizen to live in those cities

  37. Trump is making a big mistake by keeping trades with China she. Their goods are no good everything they make we hate it doesn't last at all years apart breaks toys their food I won't buy is all fake.

  38. The main problem of this global trade deals is US goods are freaking expensive. Even the US productions/manufacturers still need parts from oversea in order to keep the cost low. That's the reason why Europe, China, and Mexico can't afford to make even trade with the US because that's going to hurt them badly.

  39. Look how much money.we are losen when we can have our own factorys here that China stold and that's no one to trade with at all we need jobs here that will pay citizens to.live on not illegals get rid of Omar she's a refugee form somolia rid of pelosi schummerand omars fraud friends and omars illegal fraud.

  40. Tariffs. Thump's tariffs are not hurting China, EU or USA. Tariffs are simply a subversive tax on the middle class. All tariffs are passed on to the consumer. So, all tariffs are doing is further lining the pockets of the rich and filling the Government coffers.

  41. What is America going to benefit from doing this sort of substandard things by checking other nation China or is America apprehensive of China surpassing America?

  42. Oh for fucksake!! You people are pet dogs of China. Justifying their expansionism!

  43. So did Trump got the money we send for his wall ? We don't see any wall yet just a fence. Haaa

  44. trumpis dont geted american like iphone, 70" smart tv, football on sunday with chicken wing and corona o bud ,chips and salsa the wont do farm or picking strawberry

  45. Speak Softly and carry a Big Stick!!! Go Trump!!

    The Heartland Speak through Him!!!

  46. You clowns always forget the key word. ILLEGAL migrantes!!! Trump and our issue is ILLEGAL migrates. Futile minds.

  47. This needs to be done think about all the small mom-and-pop stores that went out of business because of China and and everyone else we trade with it only help the rich man like Walmart and everyone before themit's sad that these young people cannot have that kind of life that i had when I was growing up going into small stores and seeing stuff that was made in America it wasn't that expensive and it lasted longer than today's products I had a refrigerator made in the USA from the 50's and finally rusted out but still worked in 2012.

  48. Always minimizing Mexico, which is the biggest trading partner of the U.S., and it has 1/10 the population of China. And no, Mexico didn't rush, it did what it had set out to do, only apparently, Trump made them do it: close it's Southern border.

  49. I dont get why do we have to pay the extra tax how about raise the minimum wage first to atleast a livable amount not 8 dollars u cant pay ur bills in places like florida with only 8 bucks

  50. Does this clown president not realize not a lot of people can afford those tariffs and not with the potential risk of destroying the economy

  51. We don't need tariffs against Europe we don't need tariffs against Japan and China or Venezuela or Mexico or Canada we need to end all trade with these people don't you understand when you haven't balances of trade like we have in the multi trillion dollars that's American jobs that are here and then with Asia you've got cheap labor in many countries other than Japan and that destroys wages here in America when you make them there for so little is no way a company can make them in America for the same price and Japan's manipulation of the wand and the yen it's criminal activity at a lot of arrests should happen in Japan we need to send the Marines over in this particular case to Japan and arrest everyone involved and bring them back here and try them as you know they would get off in Japan because they are Japanese and the legal system is written for Japanese only God bless President Donald J Trump and blue lives matter

  52. Trump is the Voice of the Heartland,the Wall Street Journal cared Not when they were closing down 70,000 American Factories!!!

    Destroying the Midwest/Rust Belt,town by town/Factory by Factory..
    America is 50% of disposable income globally,using soft power for the Homeland!

    America is the only Major/Advanced Nation with more Millennials than Boomers….

    Europe/East Asia/Canada/ and Russia are entering a Demographic Death Spiral!!!!!!!

  53. Not trade war it is a raising power eclipsing a dying power! It will continue for another 10 years at least….!

  54. About the cars in Europe nobody likes American cars because is junk Except ford mustang

  55. Finally Americans are starting to get it . Make Mexico a middle class and it will benefit The USA and Canada. North America could be wealthy as a whole if we would take care of our neighbors before benefiting citizens from another continent. I know exactly what the USA is doing . They are trying to make Mexico wealthy so in the future it will benefit North America .

  56. I think USA needs to protect its industry, not get all its needs from China
    China does not follow the same rules as uSa in manufacturing, labour, quality , etc
    Once there the industries return to US then slowly they will be internal competition and prices will go down
    Do give away your independence to China, and funds China on the goal to take over south China sea

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