Trump‘s job-killing price waging trade war with China escalated further with the White House announcing $200 billion in new tariffs on China.
The White House announced in a statement provided to PoliticusUSA that was definitely not written by Trump:
Today, following seven weeks of public notice, hearings, and extensive opportunities for comment, I directed the United States Trade Representative (USTR) to proceed with placing additional tariffs on roughly $200 billion of imports from China. The tariffs will take effect on September 24, 2018, and be set at a level of 10 percent until the end of the year. On January 1, the tariffs will rise to 25 percent. Further, if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.
We are taking this action today as a result of the Section 301 process that the USTR has been leading for more than 12 months. After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts. These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy.
For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies. We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly. But, so far, China has been unwilling to change its practices. To counter China’s unfair practices, on June 15, I announced that the United States would impose tariffs of 25 percent on $50 billion worth of Chinese imports. China, however, still refuses to change its practices – and indeed recently imposed new tariffs in an effort to hurt the United States economy.
As President, it is my duty to protect the interests of working men and women, farmers, ranchers, businesses, and our country itself. My Administration will not remain idle when those interests are under attack.
China has had many opportunities to fully address our concerns. Once again, I urge China’s leaders to take swift action to end their country’s unfair trade practices. Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection.
Trump’s trade war is making hurricane recovery more expensive
The Trump trade war has caused the price of building materials to jump by 30% in 6 months. This means that it is going to be more expensive to recover from Hurricane Florence. The trade war has been killing jobs across sectors of the economy. Soybean farmers are worried about bankruptcy, and the President Of The United States has no idea how trade works.
Trump is killing this economy, and while we are all focused on Brett Kavanaugh, Donald Trump just made your economic life even more difficult.
For more discussion about this story join our Rachel Maddow and MSNBC group.
Follow Jason Easley on Facebook.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
- Jimmy Carter Outlived One Of His Obituary Writers - Mon, Dec 30th, 2024
- Barack And Michelle Obama Perfectly Pay Tribute To Jimmy Carter - Sun, Dec 29th, 2024
- Trump And House GOP’s Promise To Not Cut Social Security Is Total Nonsense - Fri, Dec 20th, 2024
