And here we have more evidence, their fascist system (I say fascist because it has the illusion of private ownership of industry but under total government control, which is a hallmark of fascism, not communism) is a flop and teetering on the brink. They'll come to the table soon enough. Trump's gonna win this one.
Math is very simple!
We sell China $300 Billion annual.
China sells US $800 Billion annual.
Which is why we have $500 trade deficit with China.
IF We impose tariffs on all Chinese imports of $800,
China CAN NOT MATCH. Max they can tariff US goods is $300.
WIN-WIN for US, Lose-Lose for China.
Can you imagine losing $500-$800 export business EVERY YEAR? President Xi will seek asylum in Taiwan.
Over the last four or five years, I find it comical to argue fascism with modern precious snowflakes. I’ve been studying it off and on since the early 70’s. They only know that fascists are the 1% and the evil people that believe in nationalism as opposed to globalism.
So when I make comments like yours, they, in typical arrogantly ignorant leftist fashion, tell me I’m an idiot and don’t even know what fascism is. :)
At the time only 4.3% of the US economy was tied to international trade and Smoot-Hawley only affected about 1/3 of that (agricultural imports mostly). So Free Traitors™ are arguing that a slight rise in tariffs affecting 1% of the rural economy was a major factor in the GD? Don't be ridiculous.
Smoot-Hawley had, if anything, a slight stimulative effect on American farming and no major impact on anything else. International trade dropped in total because overall demand dropped following the crash. They like to blame Smoot because it fits their economic fairly tale.
The globalists themselves know they are lying when they trot that one out.