According to a piece from Politico citing “multiple sources” of the anonymous kind, President Trump is getting ready to unveil a massive, let me quote, “package of tariffs” against China in the near future. The purpose of the tariffs is to punish China for dumping cheap merchandise in the US, but also for stealing intellectual property.
President Trump was already presented with a package of tariffs by U.S. Trade Representative Robert Lighthizer, but he demanded the tariffs to be even more severe. Here’s from the Politico article:
During the meeting, which hasn’t been previously been reported, U.S. Trade Representative Robert Lighthizer presented Trump with a package of tariffs that would target the equivalent of $30 billion a year in Chinese imports. In response, Trump urged Lighthizer to aim for an even bigger number – and he instructed administration officials to be ready for a formal announcement in the coming weeks, according to two people involved in the administration’s trade deliberations.
That sent senior officials at the White House, Treasury Department, State Department, Justice Department, the Office of the U.S. Trade Representative and other key agencies scrambling this week to finalize the proposal. While the details were still in flux, aides said the administration is considering tariffs on more than 100 Chinese products ranging from electronics and telecommunications equipment to furniture and toys.
Reuters quoted persons familiar with the matter as saying that Trump’s new tariffs against China would affect at least $60 billion worth of their annual imported merchandise in the US.
#BREAKING: Trump administration looking to impose tariffs on $60 billion of Chinese goods; tariffs would target tech products and telecoms but would not be limited to those – Reuters, citing sources
— Breaking911 (@Breaking911) March 13, 2018
The Trump definition of dumping is different than the reality, or the Chinese would have lost money on the goods they exported. But that’s how fair trade works. You tax our products, we tax yours. No big deal. Before anyone starts screaming helplessly at the sky, consider that before other countries started exporting massively into ours, Americans manufactured everything we needed right here, in the good ole U.S.A. My, how did our fathers and mothers ever survive? Well, they rolled up their sleeves and went to work, never wanting anything handed to them, taking pride in a job well done and the satisfaction of a paycheck!
Many countries have tariffs against USA-made goods, don’t they?Including the EU and China. Was there an outcry about starting a “Trade War” when those were imposed? After all, to get other countries to reduce their tariffs, the USA needs tariffs to reduce as well when at the negotiating table.
Political leaders who put American interests last have devastated multiple industries in the US, while China was looting our intellectual property and educating their elite in US universities.
It’s about time somebody takes steps to reverse it.