By: Brian Evans
Today, despite the Mainstream Media pushing the narrative of an impending collapse of the American economy, President Trump is continuing to fight for American jobs and the American worker. As a result, the American economy has seen a boom like never before, as unemployment is at record lows, consumer confidence is at an all-time high, and despite what the left reports, the economy is booming with record output. Now, the fruits of the Presidents work on trade is reaping rewards for American manufacturing.
Now, after meetings in Buenos Aires between the Chinese, and top Trump administration officials during the G20 Summit, China moved to reduce tariffs on US cars from 40% to as little as 15%. This shows that the Chinese are showing signs that they are not only willing to negotiate with President Trump, but they are buckling under the weight that the Presidents tariffs are leveling on the Chinese nation.
China is moving toward cutting its trade-war tariffs on imported U.S.-made cars, a step already claimed by President Donald Trump as a concession won during trade talks in Argentina.
A proposal to reduce tariffs on cars made in the U.S. to 15 percent from the current 40 percent — bringing the U.S. back in line with what other countries pay — has been submitted to China’s Cabinet to be reviewed in the coming days, according to people familiar with the matter. Shares of carmakers including Daimler AG, Ford Motor Co. and Tesla Inc. rose on the news.
The step hasn’t been finalized and could still change. While reversing the retaliatory duty is a major climb-down by Beijing, it could re-focus the two sides toward implementing the trade-war truce agreed earlier this month. Relations have since been shaken by the arrest of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou in connection with sanctions violations.
“Last week, events seemed to conspire to throw the truce into disarray, but the underlying incentives of both sides at the moment are to try to maintain that truce,” Freya Beamish, chief Asia economist at Pantheon Macroeconomics Ltd. “Now we are seeing the possibility that China will come through with reductions of tariffs on U.S. autos and that’s another good, concrete step.”
Therefore, as the Mainstream Media and Democrats try to paint the booming economy as a bust, and while the Federal Reserve recklessly and rapidly raises the interest rates, while threatening to further increases, and at unprecedented levels, it creates serious uncertainty in the markets and the American economy. In all, the Progressive left’s war on President Trump is coming at the risk of America, and the American workers, as they implement their search and destroy mission to unseat a duly elected President. Unfortunately, it sets a precedent that is creating the most divided nation in history as well.