By: Brian Evans
Early this past week, President Trump threatened to increase American tariffs on Chinese Goods from 10% to 25% on more than $325 Billion in goods from China, causing many to criticize the President’s move and reasoning. Consequently, the stock market tumbled, investors were worried, Democrats became critical of his move, and many others questioned why! However, as the week continued, it became more evident, as to why President Trump threatened China with greater and more painful tariffs! In fact, evidence emerged that showed that China had been reneging on its trade deals and commitments to the United States, as they tried to scam America and the American people!
President Trump said…
On Fox News’ Varney and Co., they discussed China’s newest underhanded anti-free trade tactics…
Also, Reuters reported…
The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks.
The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters.
In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: Theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.
U.S. President Donald Trump responded in a tweet on Sunday vowing to raise tariffs on $200 billion worth of Chinese goods from 10 to 25 percent on Friday – timed to land in the middle of a scheduled visit by China’s Vice Premier Liu He to Washington to continue trade talks.
Trump said on Wednesday that China is mistaken if it hopes to negotiate trade later with a Democratic presidential administration.
“The reason for the China pullback & attempted renegotiation of the Trade Deal is the sincere HOPE that they will be able to ‘negotiate’ with Joe Biden or one of the very weak Democrats,” Trump tweeted. Trump also said he would be happy to keep tariffs on Chinese imports in place.
Trump’s tweets left no room for backing down, and Lighthizer made it clear that, despite continuing talks, “come Friday, there will be tariffs in place.”
Therefore, the President’s actions taken against China represent his un-floundering resolve to defend American jobs, American interests, and the American economy! After all, China has been taking advantage of America, and the American people for far too long! That is until President Trump was elected to take over the economic reigns!