Saturday, September 15, 2018

Trump to Slap China in the Face With New Tariffs

By Robert Wenzel

Against the advice of nearly all economists, tariff crazed President Trump is about to announce more tariffs.

He plans to announce new tariffs of about $200 billion on Chinese imports, even as his aides prepare
for a high-level meeting with Chinese officials to try to quell trade tensions, reports The Wall Street Journal.

The tariff level will likely be set at about 10%, according to the Journal. A formal announcement is expected Monday or Tuesday.

It's likely only 10% so that the tariffs don't impact prices too much before the mid-term elections.

According to the Journal, Trump is expected to hold open the option of raising the tariffs again to further ratchet up pressure on Beijing.

It is now unclear whether a scheduled meeting to discuss trade by Treasury Secretary Steven Mnuchin and a Chinese delegation led by Vice Premier Liu He on Sept. 27 and Sept. 28 will take place.

The Chinese are likely to take this as a slap in the face. The Chinese have been hoping that any final decision on the new round of tariffs would be delayed until after the next round of high-level meetings, reports the Journal.

Robert Wenzel is Editor & Publisher of


  1. We need these tariffs! Tariffs will cause domestic prices to rise and help people to lose confidence in Govt., helping the dollar to rise so high that the world abandons it and we get the currency reset I've been waiting for the past 10 YEARS!

    1. Most likely the tariffs will help undermine what little confidence remains for capitalism and free market economics. As Robert has warmed (together with many principled libertarians) Trump is much more detrimental to the liberty movement because people will seriously use his face and his abhorrent and ignorant economic policies to describe capitalism for at least a generation.