Posted on 03/16/2018 12:12:00 PM PDT by NRx
WASHINGTON — The dust has yet to settle on President Trump’s decision to impose sweeping tariffs on steel and aluminum imports, but the White House is preparing another major trade measure, this time aimed squarely at China.
Mr. Trump and his top trade advisers are readying a raft of actions to penalize China’s theft of American intellectual property, including tariffs on at least $30 billion of annual Chinese imports, people familiar with the discussions said.
The measures, which could be announced as early as next week, may also include investment restrictions, caps on visas for Chinese researchers and challenges to China’s trade practices at the World Trade Organization. Those familiar with the planning cautioned that the timing could be delayed, and that such measures are likely to be introduced in stages.
The rapid pace of White House trade measures is no accident and comes at the president’s request. At a White House meeting last week, Robert Lighthizer, the United States trade representative, presented Mr. Trump with a plan to target $30 billion a year in Chinese imports.
That amount is equal to the cost that Mr. Lighthizer’s office estimates Chinese policies aimed at acquiring American technology impose on American companies annually. In August, Mr. Lighthizer officially began an investigation into those practices, which include digital warfare as well as requiring companies to hand over trade secrets and form joint ventures with Chinese partners to gain access to certain markets.
(Excerpt) Read more at nytimes.com ...
You are off topic on tax cuts and you are also incorrect.
Cutting taxes has always increased revenue. Spending is a separate and distinct issue.
Spending is the problem, alone, not cutting taxes.
TPP was built to address intellectual property issue abuses by China. We designed it specifically as a united front with other countries to counter China on this issue. But why have a measured cooperative mutually beneficial response when you can have a reckless all out war?
god forbid we just spend less.
Send your memo to the “true conservatives” in congress who have never managed to “spend less.”
“Spending is the problem, alone, not cutting taxes.”
You are incorrect. Debt is the problem. Any combination of policies that increases the debt is bad. You cannot pretend that one policy is an absolute good while ignoring other policies directly related to it. Reducing taxes while ignoring spending adds to the debt. That makes it bad. I am all for cutting taxes, as long as it does not add to the debt. If you are unable to cut taxes concurrently with reducing spending then we should not be doing it. Unless you are prepared to exempt me and my family from our share of the national debt. In which case you can do whatever the hell you want.
Trump has the memo. Leadership begins at the top.
Easy to remedy. Just slash entitlement spending.
"Cutting taxes" is something of a misnomer. The tax rate was cut. This ordinarily leads to an increase in tax revenue. That happened with the tax rate cuts under Reagan.
You could look up federal tax receipts. The tax rate cuts will cause revenue to dip slightly initially and then the revenue increases substantially. (And yes, using constant dollars to remove inflation from the equation.)
Similarly, the opposite happens when tax rates are increased. Get a little bump in revenue initially and then the revenue decreases.
Basically, we're trying to get a smaller piece out of a much, much larger pie.
WHAT????
“This was my big reservation with Trump. I bet he wouldn’t be stupid enough to go down this road.”
What do you think will happen?
We can transfer business to countries that are not funding a huge war machine to compete with us, are not building islands out of nothing in order to claim exclusive economic zones, or conduct CONSTANT cyber attacks on us at competitive labor costs (Central America, Philippines, Vietnam, Africa, etc).
Either start competing, or continue losing.
I don't see how that could even be possible. Every mention or glimpse of Hillary gives me the cold chills.
“They give you a great sample and then the real order is substandard”
Like when they poisoned American pets by adding melamine to rice to boost the protein content. They have no conscience about things like that.
We FINALLY have a president that has our backs!
“One immediate danger will be if China stops buying our sovereign debt.”
Good. That would force the government to finally stop running up our sovereign debt.
Hehe you do have a point there. I guess I will just say that Trump was not my first choice. Or my second. Or third. He was my last. But whatever his flaws, he is not HRC.
This follows the news last week the Trump Admin. nixed the Broadcom-Qualcomm merger - largely because of the R&D lead such a deal would cede to Chinese computer maker Huawei, which is a defacto subsidiary of the Beijing government. It was a move aimed at protecting U.S intellectual property
“I think there are more than a few on FR who have been suffering from a bad case of buyer’s remorse.”
I don’t see that. You are here to spread that rumor, hoping to make it happen.
Looks like you showed up only shortly before the election.
The tax cuts pay for themselves if gdp = 2.4%. A gdp higher will bring in more revenue than if the tax cuts didn’t happen. Mulvany had the dynamic analysis done, and that is what he said. I believe him. See Laffer curve.
Regan cut taxes and total revenue almost doubled. But Tip Oneal lied and increased spending.
Demand side economics is discredited. Paul Krugman and followers are flat out wrong.
“That would force the government to finally stop running up our sovereign debt.”
LOL, excellent Megan. You’ve pointed out the basic problem, instead of the dangerous pretend-solution of letting foreign governments own us.
This move by Trump is as idiotic as the Korean Nuclear War that he just kicked off with his mindless taunting of Kim, the endless Days of Rage being waged against us by the Palestinians over Trump boneheaded recognition of Jerusalem.
And THAT’S just scratching the surface,
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