Last week in retaliation for Trump’s tariffs on $50B in Chinese goods, China announced that it would be imposing its own tariffs on $50B in American goods. That retaliation made Trump look like a blubbering fool. Not to be outdone, today Trump announced that he’d impose an additional $200B in tariffs on Chinese goods, because he didn’t like China fighting back against him. Can you guess what China’s response is going to be? Most likely they’ll also impose an equal amount of tariffs to keep Trump in line.
Trump claims that the reason he’s been imposing his tariffs is because he wants to change China’s unfair trading practices. In a statement he said “China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology”. He then directed U.S. Trade Representative Robert Lighthizer to find an additional $200 billion worth of Chinese goods that would be hit with a 10 percent import tax.
The unfair practices Trump is talking about is China’s theft of intellectual property. A Section 301 investigation came to the conclusion that the theft costs the U.S. economy billions of dollars every year. Trump seems to be playing a dangerous game with a country that doesn’t like to play games. This trade war could really bite Trump in his quickly expanding backside. China has played a huge role in negotiations between the U.S. and North Korea, and just last month they paid Trump a huge $500M bribe too. If China pulls back the help they’re giving us with North Korea, and they start talking about that bribe publicly, things could quickly get out of hand for Trump.
Not to mention that as the prices of Chinese made products we the people purchase go so high they’ll become unaffordable to a lot of us, Trump will start taking a lot of heat from that too. This is all on Donald Trump. He’s trying to act like a rough, tough leader, but he’s really just a bumbling fool not much different than Inspector Clouseau.
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