Trump's trade wars start biting GOP ahead of midterms

[DonViejo]

With fresh U.S. tariffs on Chinese goods taking effect Monday, company reports and prominent sentiment gauges are flashing early warnings for the economy.

By BEN WHITE 09/24/2018 05:03 AM EDT

President Donald Trump’s trade battles are already triggering economic warnings — and rising danger for Republicans just ahead of the midterm elections.

As fresh U.S. tariffs on $200 billion in Chinese imports take effect Monday, surveys show consumers growing increasingly worried about higher prices this fall. Giant retailers such as Walmart are warning of price increases for manufactured goods. And smaller businesses in swing states and districts from Washington state to Iowa to Tennessee are complaining bitterly about big hits to their exports.

The economic fallout from Trump’s skirmishes with China, Canada, Mexico and the European Union risk making an already tough cycle for Republicans even more brutal, giving Democrats a chance to peel away voters linked to influential industries — like Washington state cherry farmers and Tennessee bourbon makers — who have long supported business-friendly Republicans.

“Where you have real-world effects of the trade war, you see people’s opinions sour dramatically,” said Scott Lincicome, a trade lawyer and adjunct scholar at the Cato Institute who is studying the links between public opinion and trade. “You look at places like Washington state where people are dependent on exporting cherries and apples, or rust belt states that border Canada, or Tennessee with auto and bourbon makers, and you are going to see close races where this is actually a decisive issue.”

The latest impact will begin to hit Monday as new 10 percent tariffs Trump slapped on over $200 billion in imports from China are scheduled to go into effect. That tariff rate is set to rise to 25 percent on Jan. 1 if the Chinese don’t capitulate to White House demands. Trump has also threatened to bump the total up to over $500 billion in imports, which would hit nearly every product China exported to the U.S. last year.

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https://www.politico.com/story/2018/09/24/trump-midterms-trade-wars-china-801315

[beachbum bob]

1. so far the markets have not reacted to really any of the trade war stuff and is up overall, BUT

that could be ending AND good chance (bad for us) we will see rising oil prices and gas prices in coming days/weeks leading up to the election. If the market does a major correction in next few weeks, even darker days for GOP

[katmondoo]

2. Could be the begining of the end of Walmart

[Cha]

4. Well then.. maybe they should start

pouring money into the Democratic Campaign and leave trump and his stupid, sadistic trade wars behind?

[Iliyah]

3. Overall cost of living is rising.

I'm at the grocery stores almost everyday. Even clothing stores are inches upward on their items. Theaters prices are ridiculous. The stock market does not coincide with the working middle class and poor.

[greymattermom]

5. Why don't folks just call it a tax?

The headline should be

Trump Raises Taxes on T SHIRTS, JEANS, TVs, and Phones, JUST IN TIME FOR CHRISTMAS

[leftyladyfrommo]

6. Walmart prices are already up.

My sweat pants were $5 last year. This year they are just under $7.

When this hits Walmart and Target and stores like that it is going to really hurt the middle and lower class hard.

[NewJeffCT]

7. I think the Nov 2018 effect on the election

will not be huge, though I hope I am wrong.

longer-term, it could have a big effect on 2020.

[SWBTATTReg]

8. Loud mouthed jerk thinks he alone knows what's going on, economic-wise, and knows it all!

rump is slowly destroying the basis of our trading alliances and military partnerships and soon we won't have any reliable allies, military or economic-wise. All because this ignorant ass claims to know it all. If someone 'knew' it all, then we wouldn't of had the economic slowdown of 2007, and all of the rest of the stuff that happens afterwards. Even the fed. reserve was caught off guard, and Bush/Obama both had to do some massive insertion of funds to help the economy, as well as prop up quite a few firms.

rump is deliberately setting up the economy for a fall, so he can scoop up some more prime properties at good prices. He doesn't care about us (and nether does the repug-controlled congress).