Trump prepared to hit China with $60 billion in annual tariffs
Source: The Washington Post
By Damian Paletta and Josh Dawsey March 19 at 5:25 PM
President Trump is preparing to impose a package of $60 billion in annual tariffs against China, following through on a long-time threat that he says will punish China for intellectual property infringement and create more American jobs.
The tariff package, which Trump plans to unveil by Friday, was confirmed by four senior administration officials.
Senior aides had presented Trump with a $30 billion tariff package that would apply to a range of products, but Trump directed them to roughly double the scope of the new trade levies. The package could be applied to more than 100 products, which Trump argues were developed by using trade secrets the Chinese stole from U.S. companies or forced them to hand over in exchange for market access.
The situation remains fluid, and Trump has shown a tendency to back off economic threats at the last minute. In recent weeks, however, he has shown a willingness to unilaterally impose tariffs even amid objections from advisers who fear starting a global trade war. And several administration officials said Trump was particularly determined to follow through on this specific set of tariffs, as criticism of U.S.-China relations was at the center of his presidential campaign.
Read more: https://www.washingtonpost.com/business/economy/trump-prepared-to-hit-china-with-60-billion-in-annual-tariffs/2018/03/19/fd5e5874-2bb7-11e8-b0b0-f706877db618_story.html
Voltaire2
(13,270 posts)Delmette2.0
(4,178 posts)noneof_theabove
(410 posts)take a bigly gasp of air and hold your nose.
This will me and others on a fixed income BIGLY.
Mueller can not move fast enough now.
BUT the congress-critters are the road block.
A little story of what the opposite of progress is [con-gress], titled Whose Job Is It, Anyway?
There was an important job to be done.
Everybody was sure that Somebody would do it.
Anybody could have done it, but Nobody did it.
Somebody got angry about that, because it was Everybodys job.
Everybody thought Anybody could do it, but Nobody realized that Everybody wouldnt do it.
It ended up that Everybody blamed Somebody when Nobody did what Anybody could have done.
Botany
(70,657 posts)China owns the note on Kushner's 666 5th Ave property* and
according to the Steele document they own your ass too.
* $1.2 Billion
onecent
(6,096 posts)Squinch
(51,090 posts)for the blown up bridge.
onecent
(6,096 posts)What is wrong with Dotard.....Can't someone just go pick him up
and say, "You're under arrest"...
Good Lord I couldn't do as much lying as he does and go to sleep at night.
bronxiteforever
(9,287 posts)Va Lefty
(6,252 posts)bluestarone
(17,128 posts)I hate hobby lobby so maybe they will fold up!!!!!!
Valhallakey
(70 posts)China definitely engages in bad practices. I know Toyota had to turn over all their intellectual property rights on hybrids in order to do business there. This and other practices are clearly not fair and should be challenged. However Im not sure just throwing out a bunch of tariffs is the right way to handle it.
ucrdem
(15,512 posts)where 8 years of Bush-Cheney thuggery had left it. Whoever gets the job after Trump better be very good at math.
Still In Wisconsin
(4,450 posts)This should go well.
Yo_Mama_Been_Loggin
(108,485 posts)pampango
(24,692 posts)deregulate corporations and restrict immigration.
All of that seemed to work for a while - the 'Roaring 20's' - but 1929 and the onset of the Great Depression (and the arrival of FDR) discredited those policies. Now the generation that lived through that is mostly dead. New generations apparently have to learn lessons the same way - the HARD WAY. Trump will be a hell of a teacher - just like Coolidge and Hoover were.
videohead5
(2,190 posts)We still make but he is targeting stuff we don't make anymore like computer parts.if they cost me more that means I have to pass that cost along.that means less repairs or upgrades.
Mosby
(16,422 posts)But don't trust trump to deploy them properly.
A small tariff won't be passed on to consumers because of high elasticity of demand, but it creates revenue that can be used for a myriad of things.
It's about time we started globalizing the rights of workers.