Posted on 04/06/2018 11:43:15 AM PDT by Mariner
President Trump says in a new interview that tariffs targeting China over intellectual property theft could cause some "pain" in the U.S. economy, but promised that America would emerge stronger as a result.
"I'm not saying there's not gonna be any pain," Trump said Friday in an interview with "Bernie & Sid in the Morning" on 77 WABC in New York City.
He also acknowledged the initial reaction from markets is likely to be negative.
They “could lose a little bit," he said.
Dow Jones industrial average futures plummeted on Thursday after news broke that Trump has asked officials in the administration to prepare tariffs on another $100 billion of imports from China, escalating a fight with Beijing.
Futures on the index fell 222 points, suggesting the market would open down 271.22 points on Friday, CNBC reported.
(Excerpt) Read more at thehill.com ...
Right. That is actually a good article that describes how, starting in earnest with Clinton, we allowed China to buy up important businesses. This has been going on virtually unchecked.
I remember years ago reading how China was going all over the world, but particularly in Africa, and very strategically buying up all the rare earth mines while the US did... nothing. Some wrote about this troubling trend but nothing was done.
Trump is exactly right that the trade war with China was lost long ago. Either we fix it now or we simply become subservient to China and wave to them as they pass us by economically — and it will happen.
“American business has to see the long-term value in not allowing China to continue to steal our stuff.”
They only care about “their” stuff. Their very narrow piece of the pie.
Which would take YEARS to do. That’s the problem.
Problem is, it'll take YEARS to get mining operations up and running, refining facilities built and operational and more. YEARS I don't think we have.
I think PDJT is exactly correct in his assessment of the problem and his statement that the trade war was lost "long ago" I remain to be convinced that his approach in running us into a potential military showdown with China over all this (which is exactly where China is getting ready to take all this) is the right approach.
Agreed
until Nixon closed the gold window in 1971 we always had a trade surplus.
since then ; never
honest money is the way to bring jobs home
end the fed
” potential military showdown with China over all this (which is exactly where China is getting ready to take all this)”
China is not that stupid.
They have zero chance of defeating US Forces anywhere in the world.
It took, what, 8 years from idea to completion to put men on the moon and bring them back? And we used computers that weren’t as powerful as our cell phones today. It can be done fairly quickly. The question is: how bad do we want to?
Pain huh? Predictions are now at best a 40% hit! I don’t know about anyone else, but that wipes out our retirement!
If I recall correctly, we have rare earth mines in the US in Nevada or California and years back the government shut them down because the mining was dirty or something like that - time to reopen them.
Are you paying attention to what’s going on in the South China Sea?
theweek.com is a far-left website whose lead article today is: http://theweek.com/articles/765439/scott-pruitt-corrupt-corrupted
I would take anything they said and assume the complete opposite.
“Are you paying attention to what’s going on in the South China Sea?”
Yes. Well aware.
China still cannot defeat US forces in any theater.
Part of me wonders if Trump is TRYING to get booted out.
The US Navy seems to have trouble avoiding supertankers.
Care to revise that statement?
“Care to revise that statement?”
Because a couple of affirmative action watch standers failed, does not mean the US Navy is not the best, most deadly navy in the world.
Unchallenged on the seas. By anyone.
Anyone who believes otherwise is stupid.
China doesn’t have to invade LA to win.
And those “affirmative action watch standers” are a significant portion of the military now. How would they perform once the shooting starts?
” How would they perform once the shooting starts?”
How about you just make your assertion?
Are you saying the Chinese can defeat the US Navy in the south China Sea?
...and stupid.
“He has never had a fireside chat with Americans. Why not. Now is the time for Trump to get in Prime Time and lay out for the American people what he is doing and why it is vital to the country. Right now Trump has ceded the narrative to those in this country who despise Trump and are more than willing to allow our country get seriously damaged.”
Very well put!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.