Posted on 05/13/2019 2:24:43 PM PDT by Red Badger
Key Points
President Donald Trump says he has not “made that decision yet” on whether to put tariffs on another $325 billion in Chinese goods.
Trump says China’s latest round of retaliatory tariffs represent “a very positive step.”
Trump confirms he will meet with Chinese President Xi Jinping and Russian President Vladimir Putin at the G-20 summit in Japan in late June.
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President Donald Trump said the latest round of retaliatory tariffs announced by China on Monday puts the United States in a great position and represents “a very positive step” in the ongoing trade negotiations.
China retaliated Monday against President Donald Trump’s latest shot in the trade war between the world’s two largest economies. Beijing said it would hike tariffs on $60 billion in U.S. goods to as high as 25%.
“I love the position we’re in,” Trump said, adding, “There can be some retaliation, but it can’t be very substantial by comparison.”
Trump also confirmed that he plans to meet with Chinese President Xi Jinping and Russian President Vladimir Putin at the G-20 summit in Japan in late June.
“We have the right to do [tariffs on] another $325 billion at 25% in additional tariffs” on Chinese goods, Trump said, but he added, “I have not made that decision yet.”
The retaliatory moves by the Chinese followed the Trump administration’s move Friday to hike duties on $200 billion in Chinese goods to 25% from 10%.
“We’re taking in tens of billions of dollars” in tariffs, Trump said at a White House meeting with visiting Hungarian Prime Minister Viktor Orban. Trump did not mention that the tariff dollars are being paid by U.S. consumers, not by China.
The economic conflict widened last week as the two sides struggled to strike a new trade agreement. Trump decided to increase the tariffs following what the U.S. called China’s decision to renege on key parts of a developing deal. Equities markets fell Monday after the Chinese retaliated.
“We had a deal with China, it was 95% of the way there,” Trump said, “and then my representatives ... they went to China, and they were told things [that were fully agreed to] we’re not gonna get anymore, they’re gonna unagree [sic] to them... we’re not gonna get anymore. And I said ‘Good, that’s fine, put on the tariffs,’” Trump recounted.
China’s tariff increases, which raised the duties on thousands of products to 25% and 20% from either 10% or 5% previously, target key areas of Trump’s political base, including manufacturing and agriculture. While the tariffs affect technology components and numerous other manufactured products, they also increase duties on goods such as wheat, peanuts, sugar and berries.
U.S. farmers have suffered from price decreases caused in part by China’s tariffs and have grown increasingly unsettled by the escalating trade war.
Trump also said he would use a portion of the revenues that will be paid by consumers buying Chinese goods under the new tariffs to help provide financial relief for farmers.
Trump has aimed to use the tariffs to pressure China into a trade deal. He has pushed Beijing to address what he calls unfair trade practices such as intellectual property theft and massive trade deficits.
Stick with the tariffs no matter what; the alternative is Chinese economic domination.
Destroying China’s economy would stop them from funding rocket man
Cause Russia can’t afford to keep rocket man afloat all by themselves.
Keep up the good work President Trump
Any tariff wars will hurt China far worse than it hurts us.
Tariffs don’t hurt us, can’t hurt us.
Good time to abolish the IRS.
China is depending on the fact that their government can safely ignore its citizens’ suffering while America cannot.
They may be right that they can outlast us. We’re pretty wimpy these days.
Cold feet or bad pressured advice?
Timing, and don’t use all your weapons at once................
Make them the ERS...........External Revenue Service..............
Tariffs aren’t just a weapon they are part of sound economic policy that is way overdue.
Here is why a 50% tariff should immediately be slapped on all electronic goods from China:
Here is why a 50% tariff should immediately be slapped on all electronic goods from China:
No Chinese telephones period.
Ban them all........................
Yes.
We have been China’s whipping boy for way too long..................
China now has tariffs on close to 100% of our paltry exports to them. We only have tariffs on 37% of their exports to the US.Why the pause in the operation to cut this cancerous trade partner out of our system? Add the tariffs to that last 325 billion and let’s get this show on the road so we can force all of our producers out of this tech thieving unfair toxic trade partner/enemy
Tariff the crap out them. Use the money for our infrastructure.
“China is depending on the fact that their government can safely ignore its citizens’ suffering while America cannot.”
What suffering?
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