by WARREN MOSLER
Killing the goose that’s laying the golden eggs:
Mar 7 (Reuters) — U.S. President Donald Trump said on Wednesday that China has been asked to develop a plan to reduce its trade surplus with the United States. Trump is pressing to implement campaign promises of hardening the U.S. stance on trade. Last week, he announced that he planned to impose heavy tariffs on imported steel and aluminum. “China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit (surplus) with the United States,” Trump tweeted. “We look forward to seeing what ideas they come back with,” Trump wrote.
Looks like it’s flattened further recently?
Retail sales proved weak in both December and January and today’s chain-store results, which are no better than mixed, point to another soft month for February. Unit vehicle sales for February, released last week, proved flat and are also pointing to retail disappointment.