When China announced it would put new tariffs on $75 billion of American products, President Trump reacted with great anger. He unleashed an epic tweetstorm in which he ordered — yes, ordered — American companies to leave China and start making their products at home rather than in Asia.
Later in the day, the president released a longer statement in which he explained what new steps he would take against China.
“For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more,” the president correctly stated. “Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight. Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer.”
“As President,” the president continued, “I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%.”
And that’s not all. “Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%,” President Trump informs us. He finishes his statement off with a “thank you for your attention to this matter!”
The fact of the matter is that free trade is good for everybody. Free trade is why so many millions of people have been lifted out of poverty in the last few decades. Without free trade, we wouldn’t have even half the prosperity we currently enjoy (as a matter of speech).
However, when it comes to China we can’t possibly speak of “free trade.” China routinely manipulates the currency market and has other means to change the rules of the game in its own favor. This has got to stop. President Trump made the unfair trade situation with China one of his key agenda points during the 2016 campaign. Looking back, he was right to do so. It’s time for America to stand up to China and to force the communist-fascists (theirs is a strange mixture of both ideologies) to level the playing field. If this means that a trade war has to ensue, so be it. It would be absolutely ludicrous for the U.S. to accept this situation any longer.
So yes, Trump has gone berserk, but that doesn’t mean he’s wrong. Quite the opposite is true: he has the facts on his side. Time to get tough with China.