Posted on 12/05/2016 12:48:47 PM PST by Pinkbell
WASHINGTON; If President-elect Donald Trump thinks he’s going to impose a 35 percent tariff on companies importing goods, he might want to check with Republicans in Congress.
House Majority Leader Kevin McCarthy (R-Calif.) suggested Monday that Republicans would not be in favor of imposing the 35 percent tariff on foreign goods that Trump proposed Sunday in a series of tweets.
Trump may not understand how tariffs really work; it would be very difficult for the United States to impose them on specific companies that move jobs to a foreign country; or that Congress, not the president, sets them. But he also might be trying to use trade complexities to end run around Congress.
The president’s administration could declare a given country in violation of certain trade acts, and then impose a retaliatory tariff. It would then be up to the other nation to lodge protest with the appropriate authority.
If Trump wanted to push the issue, he probably could impose a tariff and wait for Congress, the courts or a trade organization to do something about it. And if he truly wants to do it, Republicans could be the ones going after Trump.
“I don’t want to get into some sort of trade war,” McCarthy said, still downplaying the policy differences between Trump and congressional Republicans.
There is some debate about how much power the president has to enact tariffs and “rip up” trade deals. The president could declare the United States in violation of certain trade acts, and then try to impose a tariff based on those old laws, but there would be significant pushback from Congress.
Regardless, the majority leader said Republicans were intent on overhauling the corporate tax code so businesses would stay in the United States. “That’s the best way to solve this problem,” McCarthy said.
(Excerpt) Read more at huffingtonpost.com ...
Typical elitist liberal patronizing - acting as though they are much smarter than Trump.
Anyway, Trump mentioned at his rally the other night that he would like the people to stand behind him and help him fight for what he ran on. I think Trump is going to face pushback from his own party and will need supporters to pushback. I watched the interview with Paul Ryan on 60 Minutes last night, and I still don't trust him.
Another point of reference is the comments' section of the Huffington Post. The Huffington Post is notoriously liberal, and look at the comments. The comments are predictably anti-Trump. They are criticizing Trump on this trade policy. Now, I can remember a day when it was the Democrats who were against free trade, that wanted to keep our jobs here. It seems those principles have all gone out the window in order to oppose Trump. Literally, I think Trump could come out against kicking puppies and the left would disagree with him merely because they don't like him. They seem to believe not supporting globalism is bigoted and have taken up a neocon foreign policy. Fascinating. Keep it up, liberals, and you'll never get those working class voters to return.
35% Tariff is very high, for any country to pay on a regular business basis.
Trump’s tariffs:
Losers - the American consumer.
Winners - certain special interests.
It’s not a tariff on imports, it’s a penalty placed on American corporations that move manufacturing overseas.
Well he is right about the fact that Trump will have to work with Congress on these matters. Trump knows that and it’s all part of making deals.
We've been in one for years. What are you going to do about it?
Well do something or leave office!! — No more crap deals!!
Right...aka...a tariff
McCarthy seems like a good candidate to primary, given how he so blatanty endorses companies abandoning Americans in favor of the race to the bottom.
And of course the liberal jackals support “free trade” now that Trump is opposed to it. It’s important to remember that the only principles liberals have is the destruction of everything which holds society together, so that they may usher in their totalitarian form of government they love so much.
In this story, even Red China ‘only’ imposed a 22% Tariff!
I think The Donald is starting high, and willing to be bargained lower, but only after a very full and public discussion. If this is his tactic, good, but clue the RINOs in on it too, before they get cold feet and start asking people like Lindsey Graham for advice.
The only thing is, Trump is the top GOP leader.
You think what we have going on in this nation right now is winning? LOL
Did you vote Trump? Why?
I certainly hope that Congress does what it can to stop Trump’s trade agenda.
Example one: The USA 1789 to 1913. Tariffs raised huge amounts of revenue and protected industry which grew to make the USA an industrial powerhouse.
Example 2: China and Pacific Rim form 1980 to present. Pacific rim countries are building up industry at the expense of USA dying industrial base.
The converse is also true. Lowering tariff rates to almost 0% and completely opening domestic markets to foreign 3rd world goods destroys an economy.
Example 1: The USA form 1980 to present. $800 Billion trade deficits, shrunken industrial base and 90 million people out of the work force since opening markets and eliminating tariffs.
Example 2: Great Britain: 1950 to present. A basket case. We are right behind.
Yes, undercut the man before he even starts.
Our country is getting whip sawed by every two bit tin horn dictator and the CEO of every business that wants to take advantage of low regulation low wages in Mexico or China.
Everything we buy is Chinese. The quality is crap, probably not their fault, it’s crap because the companies want it to be crap, cause it will cost less.
Just about all our fish is from China.
China’s monetary gamesmanship has ranged up to 40% at times.
The dollar is a lot stronger right now, so China’s currency may have fallen to 22%.
We are subsidizing a global threat.
It HAS TO END!
Most people know “o” about tariffs.....or restrictions on imports because of the size of the can etc etc
I love how everyone thinks they know more about economics than Trump
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