Washington – The president’s chief economic adviser says he expects China to retaliate over increased tariffs, after talks in Washington ended without a deal on trade.
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Larry Kudlow also tells “Fox News Sunday” that President Donald Trump’s plan to raise US tariffs to 25 percent across the board could take months to take effect.
The United States began raising tariffs on $200 billion in Chinese imports from 10% to 25% on Friday after American officials accused Beijing of backtracking on commitments made in earlier rounds of negotiations.
The two countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets, part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries.
Every economist on Earth especially ‘conservative’ economists understand that tariff fees are paid by the American Public, and NOT by China. This will hurt US consumers, hurt the farmers, hurt businesses, and hurt the stock market. Only Trump doesn’t understand this basic concept. The great deal maker is screwing up again.
This will undo Trumps presidency come 2020
This time, I agree with Archy; the Chinese need us more than we need them. Prior to the USA restoring diplomatic relations with Beijing in 1979, the USA was not at all dependent upon Chinese imports, or the USA exporting to them. We are not going to be blackmailed, as the Arabs did for many years, vis-a-vis their oil. We are now totally energy free. Hence, we should be free of China’s attempt to dominate international trade. Although we were China’s ally in World War Two, they turned against us in the Korean War, and together with the North Koreans, tortured our POW’s. They also invaded North Korea, and killed many GI’s. When JFK was killed in 1963, the Chinese ran a large cartoon in one of their dailies which stated “Kennedy Bites the Dust”. To this day, they’ve never apologized for that. Incidentally, the Chinese are attempting to blackmail countries in Southeast Asia, with a large buildup of their Navy. They appear to be headed in the same path, that the Japanese were headed in the 1930’s, with their Greater Southeast Co-Prosperity Sphere”.
I agree with Archy; we can pull in our belts, as we did during World War Two. There are other countries whom we can import from, such as S. Korea, Japan, Vietnam, Indonesia, Bangladesh, India, Singapore, and Mauritius. The Chinese are not going to blackmail us economically.