The dam has broken, we are headed back toward free trade. President Trump knows that the trade war is hurting the economy and, thus, his chances for reelection.
Trump administration officials are considering removing some tariffs on Chinese goods as a concession to seal a partial deal that would pause the trade war as early as this month, reports The Financial Times.
According to the report, the White House is considering rolling back levies on $112 billion of Chinese imports — including clothing, appliances, and flatscreen monitors — that were introduced at a 15 per cent rate on September 1.
The Administration has already suspended a planned increase in tariffs on $250bn of goods from 25 per cent to 30 per cent that was due to take effect on October 15.
Trump doesn't need additional headlines like this:
Trump doesn't need additional headlines like this:
-RWCaterpillar lays off 120 workers as trade war hits sales https://t.co/MkhCjMd5HZ pic.twitter.com/77ttvtyzXp— Reuters (@Reuters) November 5, 2019
Huh. I thought the tariffs were makin merica great again? Now they are telling us it actually hurts the American economy? Well I’ll be darned. What about hurting the China peoples? Isn’t that more important?
ReplyDeleteAt least Trump tried to do something for America which is lost on the libertardians here. Some of those tariffs were hurting China since we are doing little more than propping up their parasitic system. Too bad we can't sell farm goods profitably elsewhere.
ReplyDeleteDictating to Americans who they can associate with is the type of trying to do something that should not be tried. Even if tariffs were beneficial to Americans freedom of association should not be encroached on. In this case tariffs have again been proven counterproductive. Nothing quite like counterproductive tyranny.
DeleteOf course Lab most people are so wrapped up in a pursuit of free trade that fair trade does not warrant consideration. China will always stack the deck in its favor to make sure no one can easily compete and US multinationals will exploit the US consumer to its own ends and higher profits.
Delete"Unfair trade" doesn't exist; It is an oxymoron.
DeleteCummins is experiencing a similar downturn here in Columbus IN.
ReplyDeleteThere's on going attack against diesel engines world wide on numerous fronts. They are being regulated out of production and use deliberately.
DeleteYep. That's why Cummins is getting into electric and gas engines. Very sad.
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