Posted on 04/05/2018 4:09:49 PM PDT by SpeedyInTexas
President Donald Trump on Thursday said he has instructed the United States Trade Representative to consider $100 billion in additional tariffs against China.
"In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a statement.
(Excerpt) Read more at cnbc.com ...
It had to be tit for tat. Trump didn’t plan on Chinese retaliatory measures. You can’t really plan on what the other side’s going to do Back before they do it. You give them a chance first. But once they do it, then you act. Totally unlike prior presidents! This guy is no wimp!
Thank you guys for the details. Appreciate it.
The Midterm push begins in earnest. Go DJT!
If you read my whole post, I stated I was using 2016 numbers. If 2017 is indeed $170 billion. Then yes $120 billion is “available”. But they are getting close to tariffs on the entire US export total.
If/When Trump ups the ante again, China will run out of goods to tax.
Only thing this is gonna do is lead to a recession, and hammer 401ks, Trump will bluster and bash about, then completely surrender just like he did with wall. Now he’s following Bushs example sending neutered troops to border all for show. Wake up people.
Jeb!
According to this website: https://www.census.gov/foreign-trade/balance/c5700.html 2017 US exports to China was $130 billion.
At $130 billion, less the $50 billion China already announced, there is only $80 billion left to tax. So again, China may not even be able match Trumps planned $100 billion in additional tariffs.
Not gonna happen. I don’t see him backing down on this. As for 401’s, BUYING OPPORTUNITY!!!! MAGA
Thanks, Donald. We had a nice run up in the markets the past few days, but the Dow futures are now down 450+ points.
I love this guy (and voted for him), but could someone PLEASE start getting a filter on him? He’s costing millions of people real money.
BTW and FWIW - I’m as much “America First” as anyone, but there are dynamics here that are FAR beyond the Donald’s ability to manage.
Great Depression 2.0, anyone? Tariffs started the first one in the 20s. Let’s not forget history.
Great Depression 2.0, anyone? Tariffs started the first one in the 20s. Let’s not forget history.
Get a grip.
Basic art of the deal 101. Each time they deny your first offer, you come back even harder. I guess they didn't read his book.
The US ran trade surpluses in the 20s. That is why foreign tariffs hurt the US so much.
But we are running MASSIVE deficits now. We benefit from a trade war.
Washington, D.C. – U.S. Trade Representative Robert Lighthizer today released the following statement in support of the President’s direction that the Office of the United States Trade Representative (USTR) consider additional measures under Section 301 of the Trade Act of 1974 regarding China’s unfair acts related to technology transfer, intellectual property, and innovation:
“President Trump is proposing an appropriate response to China’s recent threat of new tariffs. After a detailed investigation, USTR found overwhelming evidence that China’s unreasonable actions are harming the U.S. economy. In the light of such evidence, the appropriate response from China should be to change its behavior, as China’s government has pledged to do many times. Economies around the world – including China’s own – would benefit if China would implement policies that truly reward hard work and innovation, rather than continuing its policies that distort the vital high-tech sector.
“Unfortunately, China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in U.S. exports, including our agricultural products. Such measures would undoubtedly cause further harm to American workers, farmers, and businesses. Under these circumstances, the President is right to ask for additional appropriate action to obtain the elimination of the unfair acts, policies, and practices identified in USTR’s report.”
Any additional tariffs proposed will be subject to a similar public comment process as the proposed tariffs announced on April 3, 2018. No tariffs will go into effect until the respective process is complete.
Market has topped for the next 5 years.
If Trump wasnt big enough to build the wall, he lost, how is he big enough to take on world trade. Nothing more than Trump bluster. Something to rile up the troops while potentionaly hurting the economy. Why?
“Xinhua, the official Chinese news agency, is posting comment. Headline on that crossing the Bloomberg terminal — Xinhua says U.S.’s $100 billion tariff proposal violates international trade rules.”
China is concerned about international trade rules. Lets all have a BIG laugh.
Lol.
Jeb, Trump needed Congressional appropriations to build his Wall. He doesn’t need that for tariffs. Congressional laws already give him that authority. That is the big difference.
20 years ago I might have been nervous but our oil and gas production would see our currency through this. To hell with China and we will probably not have a better time to tell them so.
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