Trump prepared to hit China with $60 billion in annual tariffs

[DonViejo]

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]

1. This is beyond stupid.

[Delmette2.0]

2. Does he really think China will pay us the $60 billion? nt

[noneof_theabove]

3. For those on SSN....

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 Everybody’s job.
Everybody thought Anybody could do it, but Nobody realized that Everybody wouldn’t do it.
It ended up that Everybody blamed Somebody when Nobody did what Anybody could have done.

[Botany]

4. ATTN Donald J Dumb-Fuck

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]

5. Hell don's we OWE China A BUNCH??????????????????

[Squinch]

8. Yes, and beginning last month, they began calling that debt in. We're on a train heading

for the blown up bridge.

[onecent]

13. God,do you ever feel like your at the wrong place, at the wrong time????

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]

6. The Stock market should be interesting tomorrow n/t

[Va Lefty]

7. Well, that will end well.

v

[bluestarone]

9. well HOBBY LOBBY will like this! (sarcasm)

I hate hobby lobby so maybe they will fold up!!!!!!

[Valhallakey]

10. Not sure

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 I’m not sure just throwing out a bunch of tariffs is the right way to handle it.

[ucrdem]

11. Barack O spent 8 thankless years scraping the US economy off the ropes

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]

12. All the cheap plastic shit at Mall-Wart just got more expensive.

This should go well.

[Yo_Mama_Been_Loggin]

14. Tonight Trump's gonna party like it's 1929

[pampango]

16. Yep. He is the reincarnation of Calvin Coolidge and Herbert Hoover. Cut taxes, raise tariffs,

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]

15. It's ok to target things

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]

17. I think tariffs are long overdue

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.