PILOT SPIN

Spin Zone => Spin Zone => Topic started by: Little Joe on August 23, 2019, 12:47:34 PM

Title: President ORDERS companies to move from China? Is this true?
Post by: Little Joe on August 23, 2019, 12:47:34 PM

https://www.cnbc.com/2019/08/23/us-stocks-wall-street-monitors-speech-from-fed-chair-jerome-powell.html

Quote

Trump tweeted on Friday: “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..your companies HOME and making your products in the USA.”
However, it is not clear how much authority the president has on this front.

I might agree with the sentiment, but I don't agree with the action.

Title: Re: President ORDERS companies to move from China? Is this true?
Post by: bflynn on August 23, 2019, 01:04:28 PM

I think you’ve fallen victim to the entertainment media’s bad story.

What the president actually said is that fake drugs from China is a problem that he is going to address, presumably by instructing CBP to search every import from China. The backlog of getting. Chinese product into the US is going to grow. I read it as a strong suggestion to find other sources as the Chinese ones are about to draw down to a trickle.

By no coincidence, this puts great pressure on China.

Title: Re: President ORDERS companies to move from China? Is this true?
Post by: Anthony on August 23, 2019, 01:04:51 PM

You are only getting part of it out of context.  CNBC is owned by Comcast who also owns NBC, and MSNBC.  Comcast held Biden's campaign kick off fundraiser in Philly. Brian Roberts their CEO is a big Obama friend and former financial bundler for him.  He's now backing Biden.

Quote

WASHINGTON, Aug 23 (Reuters) - President Donald Trump said on Friday he was ordering U.S. companies to look at ways to close their operations in China and make more of their products in the United States instead, a rhetorical strike at Beijing as trade tensions mounted.

Trump cannot legally compel U.S. companies to abandon China immediately and he gave no detail on how he might proceed with any such order, although he said he would be offering a response later on Friday to tariffs on American products announced by China earlier in the day.

http://news.trust.org/item/20190823155042-k15dh

Title: Re: President ORDERS companies to move from China? Is this true?
Post by: Rush on August 23, 2019, 04:31:58 PM

Trump overblown way of expressing himself. No biggie.