I like Trump’s instincts on trade. Problem is that he’s taxing the wrong things. China taxes high value-added items and leaves basic inputs alone. So it would make sense to place a 200% tariff on China assembled phones phased in over 5 years, rather than the 25% currently mooted, and leave the penny ante stuff like pencils and bubble envelopes alone.
Trump should add that tarriff on imported chinese made final products.
But the bottom line is China can make steel cheaper because of UNION REGULATIONS and labor costs.
Plus they leap-frogged our technology,
Some of us who are big Trump supporters have pointed out the idiocy of imposing limited tariffs on select products and raw materials. This case illustrates the problem perfectly.
Steel is not penny-ante stuff
“China taxes high value-added items and leaves basic inputs alone.”
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China taxes American soybeans, which are not high value-added.