Trump moves to crack down on China trade with $50 billion in tariffs on imported products

[DonViejo]

Source: The Washington Post



By David J. Lynch March 22 at 12:15 PM

President Trump took the first steps toward imposing tariffs on $50 billion in Chinese goods and limiting China’s ability to invest in the U.S. technology industry Thursday, saying the moves were a response to Beijing’s history of forcing U.S. companies to surrender their trade secrets to do business in China.

The president directed U.S. Trade Representative Robert E. Lighthizer to announce a proposed list of products to be hit with tariff increases within 15 days. After a public comment period, the final list, designed to target Chinese products that benefited from improper access to U.S. technology, will be made public.

“The end objective of this is to get China to modify its unfair trading practices,” said Everett Eissenstat, deputy assistant to the president for international economic affairs.

The White House expects the new taxes, which could reach up to 1,300 specific imports, will have a “minimal impact” upon consumers, but markets were down sharply Thursday morning in apprehension.

Read more: https://www.washingtonpost.com/business/economy/trump-moves-to-crack-down-on-china-trade-with-50-billion-in-tariffs-on-imported-products/2018/03/22/c09309e8-2de3-11e8-8ad6-fbc50284fce8_story.html

[Eliot Rosewater]

1. The DEVASTATING harm this will have on 99.9% of the American public

will it change the minds of the deplorables when it becomes clear he has no idea, none whatsoever, what he is doing?

[bucolic_frolic]

2. Every retailer with a Chinese product will know to raise prices

because they know they can get away with it now that they have a proper excuse

Parts from China - auto, appliance, technology, plumbing

DollarTree, Dollar General

Walmart

Consumers, bend over!

[maryellen99]

5. Im glad I got my iPad this week nt

[Wwcd]

3. Now this all makes me curious as to those 100 + Patents Ivanka was

sent to China to secure in the Trump name, shortly after Donald became pResident.

What product do those 100+ patents represent?

I doubt Trump's tarrifs are goung to hurt their patented Chinese products.

Wonder what they were for.

[TheSmarterDog]

4. Does this include his own branded products?

Somehow I don't think so.

[djacq]

6. Trade Wars equals increase inflation, interests, taxes, prices

[C Moon]

7. I smell inflation. I wonder if the right is doing this because they know a Democratic Party takeover

is imminent. Get rich quick, fuck things up, then point the finger at the Dems.

[Mad_Mongol]

8. The hurt will be deep and its not consumer products.

Look for China to stop importing:

Sorghum from Nebraska & Oklahoma; farm failures
curtail soy bean imports (Iowa, Illinois, Ohio, MN, IN,...) ; farm failures
pork products; about 20% of all US pork products are exported to China


Crackdown on foreign company repatriations:

Did you know that GM sells more cars in China than it does in the rest of the world. Imagine what would happen if the Chinese made it more difficult for GM to bring its profits home?

Cripple Boeing: Orders for 300 757s, *what* orders?

Slow down or STOP purchasing new issue US Treasuries (they have recently been 30%+ for new subscriptions): Higher interest rates for all of us.


Yeah its a trade war we're gonna win! ..Depends on who's *we*, eh Mr. Trump?

[TomCADem]

9. Senator Bernie Sanders: Why Are We Trading With China? - Should Left Back Trump On This?

For example, Bernie Sanders has said that China has already effectively declared a trade war on the U.S., thus from Bernie/Trump's perspective, the U.S. is simply fighting back: