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Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on March 21, 2018, 04:03:28 PM
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Trump moves to crack down on China trade with $60 billion in tariffs on imported products
By David J. Lynch March 22
President Trump took the first steps toward imposing tariffs on $60 billion in Chinese goods and limiting China’s ability to invest in the U.S. technology industry Thursday, saying the moves were a response to Beijing’s history of forcing U.S. companies to surrender their trade secrets to do business in China.
The president directed U.S. Trade Representative Robert E. Lighthizer to announce within 15 days a proposed list of products to be hit with tariff increases. After a public comment period, the final list, designed to target Chinese products that benefited from improper access to U.S. technology, will be made public.
“We’re doing things for this country that should have been done for many, many years,” the president said before signing a memorandum setting in motion the trade actions.
The president blamed China for the loss of 60,000 factories and 6 million jobs, a number that most economists say blends the impact on U.S. employment of both Chinese competition and automation.
Trump said that unfair Chinese trade practices are responsible for the yawning U.S. trade deficit with China, which has reached a record $375 billion on his watch.
https://www.washingtonpost.com/business/economy/trump-moves-to-crack-down-on-china-trade-with-50-billion-in-tariffs-on-imported-products/2018/03/22/c09309e8-2de3-11e8-8ad6-fbc50284fce8_story.html?utm_term=.0fb69d1b6679 (https://www.washingtonpost.com/business/economy/trump-moves-to-crack-down-on-china-trade-with-50-billion-in-tariffs-on-imported-products/2018/03/22/c09309e8-2de3-11e8-8ad6-fbc50284fce8_story.html?utm_term=.0fb69d1b6679)
Beautiful!
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No tip toeing thru the rice patties for this WWF HoF Prez...
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It's about time.
China is probably the biggest long-term threat to the US.
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Trade wars lead to shooting wars - jim Rickards
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Trade wars lead to shooting wars - jim Rickards
I'm a big believer in free trade. What we have with China is not free trade. If the market was left to it's self with no Chinese government intervention, there would be no trade deficit.
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I'm not sure how this works out for us in the long run. I think in the short term it could be bad. Hopefully not, as I'm not trying to go bankrupt during another recession. I need at least two more years to become bulletproof.