Skip to comments.Trump ramps up China trade war with new tariffs on $200 billion in products
Posted on 07/10/2018 5:41:31 PM PDT by cba123
The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world's two largest economies.
The tariffs could take effect after public consultations end on Aug. 30, according to a statement from the U.S. Trade Representative's office Tuesday.
(please see full article at the link)
(Excerpt) Read more at dallasnews.com ...
Plenty of time for Beijing to straighten up before anything actually happens. Dow futures are currently down 240.
We’ve been to this rodeo before. Things will shape up in due time and stocks will set new highs.
I do not think the stock market, is the primary driver of this process.
It is American industry. Sure if the market goes up, that is positive, but that is not the motivation.
The motivation, is making America great again. :D
Didn't we make these here in the USA sometime in the past? We can do so again. We should do so again. Yes, go Donald!
We need to equalize trade with communist China (which must be one of the things that tick off the gop-e global elitists the most, ha!)
altho, we do need to go about it carefully ... not timidly but carefully, making it clear we are only specifying the worst practices and items that damage us the most.
so far, it appears that PDJT is doing this....
The Chinese have been robbing us blind for years due to the pansy negotiators and pansy congress critters and pansy Presidents.
It was the democrats and GOP which wanted cheap goods to offset higher taxes....
I was only pointing out that stocks (as measured by the DJIA) have reacted negatively to the initial Trump tarrifs, only to turn positive again after finding out this President knows what he’s doing.
I’m very comfortable with what I call ‘the trio’ of President Trump, Peter Navarro, and Wilbur Ross. They not only know what they’re doing, but their objective is MAGA as well.
A 10% tariff on $200 billion in Chinese imports = $20 billion.
Enough to fully fund a border wall with Mexico, the first year.
In following rounds, we could raise the 10% tariffs to 20%, or put 10% on another new $200 billion worth of goods, or both. We have a long way to go to, with a $500 billion trade deficit.
China cannot keep up with this pace of escalation - and if they try, they only justify us hitting them with another round - which is likely the outcome that Trump wants anyhow.
Do you know who pays the Tariff? I can assure you in this case it is not the tooth fairy. Its you and I.
A Tariff is just a tax on the consumer.
You want proof?
Have you purchased a pickup in the last few years? Thank your Tariff for the hlow low prices... Did you know there is a 25% Tariff on pickup trucks? Hmm, now I wonder if domestic trucks have all ready factored that pricing into their MSRP...
But hey we need more Tariffs...
Cant we start using this money to pay down the debt.
Not pansies. Treason.
China is playing Chicken with Trump.
They have so much more to lose, and we have everything to gain.
With Tariffs, every truck bought from us instead of them, stays in our economy; creating demand for services within our economy, by the truck's builder.
Instead of going overseas to circulate through the Chiconomy.
It seems to me that a better answer would be to use the tariff collections to provide more tax relief targeted to grow the economy, and then use the revenues generated by the latter to chop away at the deficit and debt. Everybody wins — even the Chinese if our growth is really good and they play it right.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.