GoranZ wrote:Bernie Sanders wrote:A drop in price of crude oil is a big boost for consumer spending America.
It all depends how much will the dollar drop also
Russia announced its intentions to join in the trade war.
"Because the US continues to apply protective measures in the form of additional import duties on steel and aluminum and refuses to provide compensation for Russia's losses, Russia is using its WTO rights and introducing balancing measures with respect to imports from the United States," Oreshkin said in a comment circulated by the ministry’s press service.
Moscow to Introduce Import Duties on US Products in Response to TariffsIn the mintime
Trump Administration is Exploring Tariffs on Another $200 Billion Worth of Chinese Goods. To me this will create inflation in US, and the prices on everyday items will go up. Question remains if US is able to function without trade with other countries.
US President Donald Trump has reportedly directed US Trade Representative Robert Lighthizer to identify some $200 billion in Chinese goods to subject to a 10 percent trade tariff.
The new tariffs follow a set imposed Friday and would go into effect "if China refuses to change its practices and also if it insists on going forward with the new tariffs that it has recently announced," Trump told reporters Monday. Tariffs at a 25 percent rate, worth $50 billion, came Friday and targeted China's technology imports from the United States.
The tit-for-tat measures between the countries follow Trump's derision of the US' trade deficit with China, which he has cited as being in excess of $500 billion per year.
China's proposed measure in response to Friday's tariffs "creates a lot of market uncertainty that makes it harder to sell cargoes or sign long-term [trade] deals," Bernadette Johnson, of the energy consultancy firm Drillinginfo, told Reuters.
As long as the Chinese rather hide their money in America, the dollar will remain strong.
Ooops, Chinese stock markets is falling as we speak.
Guess who gets hurt more in trade war between America and China?
Granted what Trump is doing against Europe, Mexico and Canada will effect America adversely.
Trump is a moron and has no clue about world economics.
BTW, Russia has no effect on the American economy.