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China "Shocked" By Navarro Appointment, As Trump Team Proposes 10% Import Tariff
ZeroHedge.com ^ | 22 December 2016 | Tyler Durden

Posted on 12/22/2016 8:12:46 PM PST by Rockitz

As the FT first reported yesetrday, in a dramatic development for Sino-US relations, Trump picked Peter Navarro, a Harvard-trained economist and one-time daytrader, to head the National Trade Council, an organization within the White House to oversee industrial policy and promote manufacturing. Navarro, a hardcore China hawk, is the author of books such as "Death by China" and "Crouching Tiger: What China’s Militarism Means for the World" has for years warned that the US is engaged in an economic war with China and should adopt a more aggressive stance, a message that the president-elect sold to voters across the US during his campaign.

In the aftermath of Navarro's appointment, many were curious to see what China's reaction would be, and according to the FT, Beijin's response has been nothing short of "shocked." To wit:

The appointment of Peter Navarro, a campaign adviser, to a formal White House post shocked Chinese officials and scholars who had hoped that Mr Trump would tone down his anti-Beijing rhetoric after assuming office.

“Chinese officials had hoped that, as a businessman, Trump would be open to negotiating deals,” said Zhu Ning, a finance professor at Tsinghua University in Beijing. “But they have been surprised by his decision to appoint such a hawk to a key post.”

Shortly after the announcement of Navarro's appointment, the US Office of the Trade Representative yesterday put added more fuel to trade tensions with Chine when it put Alibaba, China’s biggest e-commerce platform, back on its “notorious markets” blacklist of companies accused of being involved in peddling fake goods.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs
KEYWORDS: alibaba; cabinet; china; foreignpolicy; importtariff; navarro; peternavarro; trump; trumpcabinet; trumptrade; trumptransition
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To: cba123

Amen. So sick of seeing made in China on everything-especially knowing that every dollar is going to be used to build up their military while our military needs rebuilding.


161 posted on 12/23/2016 4:47:18 PM PST by greeneyes
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To: Rockitz

It is decades past time for those murderous tyrants to face even the faintest flicker of competition for dumping their lead-tainted crap on American markets to the detriment of our nation. I’m not surprised they’re shocked...they’re probably scared because the consequences of their 1-child act is about to start hitting home and their entire economy depends on the Wal-Mart mentality.


162 posted on 12/23/2016 5:05:53 PM PST by Laser_Ray
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To: central_va

And all that was before the good ol wonderful income tax was put in place. Different times, the founders also never intended for a federal income tax. Of course tarrifs are in the Constitution but it was there to raise income to the government a far cry in what is being requested today.

I feel for small business and middle class who this will impact as the cost of goods go up and those hit by the tarrif start laying off to meet margins


163 posted on 12/23/2016 5:09:23 PM PST by Jarhead9297
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To: Jarhead9297
I feel for small business and middle class who this will impact as the cost of goods go up and those hit by the tarrif start laying off to meet margins

Walk me through a scenario where these tariffs cause someone hit by them to lay someone off.

The only people getting laid off will be in China. Which is probably e where you live.

164 posted on 12/23/2016 5:12:35 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Say I’m a small business owner operating as most do on smal margins serving to a global market here and abroad (like carrier). The government decides in their infinite wisdom to smack tarrifs on imports of my product that I order overseas. Now me small business owner who depends on that profit is less because the cost of buying my product is more. Now I must cut costs (lowest common denominator is employees). In kind other countries respond and decide to tarrif my product also coming in. I’m now out of business


165 posted on 12/23/2016 5:34:49 PM PST by Jarhead9297
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To: Jarhead9297
Find a domestic supplier, raise your prices or go out of business. I could NOT care less.

The US manufacturing base must be protected so it can come back to life. Otherwise we will perish as a nation. 70,000 factories were closed in this global race to the bottom. Nobody cared about those displaced workers. So now no one cares about you.

166 posted on 12/23/2016 5:41:52 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

And this is where we’ve come to in a populist movement. To hell with my business and my employees. Do what the government says what you have to do. Forget about economic liberty


167 posted on 12/23/2016 6:28:45 PM PST by Jarhead9297
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To: dp0622

It isn’t free market, it’s selling-US-out market.


168 posted on 12/23/2016 6:40:42 PM PST by HiTech RedNeck (Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
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To: Jarhead9297
You people and corporations who thought the one-way free access to US markets was going to last forever may have got caught with your pants down. You have no Constitutional right to free and open trade with the rest of the world. To think you do is preposterous.

If your business can't withstand a 10% increase in the cost of materials then perhaps this is not a good business to be in. If you can't raise your price enough to cover that cost then maybe you should re-evaluate your business.

I do not work for a small business but I did once in college. He was a mechanical contractor. He told me business was slowing down and he had to lay me of. But I was to come back in 2 weeks when a new job started. They guy had a vacation house, a 40' power boat and drove a huge Lincoln Town Car. But he couldn't find something for me to do in those two weeks? Screw him I never went back even after he called me.

169 posted on 12/23/2016 6:40:47 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: Jarhead9297

Live by the almighty dollar, die by the almighty dollar. This is the international biz, sweetheart.


170 posted on 12/23/2016 6:42:29 PM PST by HiTech RedNeck (Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
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To: Rockitz

still not
tired
of
WINNING!!!!!


171 posted on 12/23/2016 7:05:53 PM PST by TomasUSMC (FIGHT LIKE WW2, WIN LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM.)
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To: central_va
If income taxes are better than tariffs why not make the top marginal rate 90%?

Income taxes and tariffs have the same economic impact. They transfer wealth from the private sector to government.

172 posted on 12/23/2016 9:03:28 PM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Maine Mariner

Good point. We couldn’t do today what we did in WW II. The rules and bureaucracy would take yearm to hurdle and the war would be lost before we could produce the first tank.


173 posted on 12/23/2016 9:23:59 PM PST by Mollypitcher1 (I have not yet begun to fight....John Paul Jones)
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To: McGavin999

And before cankles wormed her way onto the board...


174 posted on 12/23/2016 10:38:41 PM PST by snuffy smiff (Blessed be the Lord my Rock, who trains my hands for war, my fingers for battle...)
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To: Oldeconomybuyer

Income taxes and consumption taxes like a tariff are totally different. Clearly your understanding of economics is limited.


175 posted on 12/24/2016 5:51:45 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
I believed you would my reply in which I said:

This is not to say that the battle to protect America from Chinese mercantilism is not worth waging, it is.

There is clearly a certain appeal to the cry, "we are in a trade war now," in fact I have been arguing for some time on behalf of an Article V convention of the states that we are now amending the Constitution almost daily by stealth and without even the protection of Article V.

The question is how do we conduct that convention and upon whose values?


176 posted on 12/24/2016 7:04:33 AM PST by nathanbedford (attack, repeat, attack! Bull Halsey)
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To: nathanbedford

Merry Christmas. BTW I asked Santa for a nathanbedford sophistry decodrer ring for Christmas. I hope to get one!


177 posted on 12/24/2016 7:19:20 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
Merry Christmas to you and your family.


178 posted on 12/24/2016 9:21:59 AM PST by nathanbedford (attack, repeat, attack! Bull Halsey)
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To: Crucial
"Tariffs and taxes caused the Great Depression. Tread lightly Trump."

Completely wrong. The US had tariffs in excess of 20% going into the roaring 20's. And that hadn't changed when the Great Depression started in 1929. Smoot Harley tariff was being discussed but it wasn't passed until a year and a half AFTER the great depression started. And then it was only in place for a year before it was repealed and 50% of the goods were exempted.

At the time of the great depression, imports were only equal to 5% of our GNP. Yet industrial production dropped by over 60%. There is no way, imports caused that much drop in industrial production.

What did happen is that the Federal Reserve saw the money supply growing rapidly during the 20's. That scared them and they thought they should reign it in to be more like gold. They tightened money supply and when the credit dried up, there were bank runs and businesses failed. It had nothing to do with tariffs.

179 posted on 12/24/2016 10:31:10 AM PST by DannyTN
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To: central_va

Taiwanese goods will likely get caught up in a trade war to. Your computer probably came from Taiwan.


180 posted on 12/24/2016 4:02:21 PM PST by IDFbunny
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