Fighting bad trade deals with China was one of President Trump’s major campaign promises.
So far he’s delivering on his promises with tariffs.
And now China is so angry that they are about to go to war with Trump.
In response to the harm China has done to the U.S. economy, the U.S. Trade Representative unveiled a list of around 1,300 Chinese products that will be subject to tariffs of around 25 percent.
These new tariffs are expected to cost the Chinese about $50 billion.
The U.S. Trade Representative stated that “This level is appropriate in light of the estimated harm to the U.S. economy,” and that “the goal of these tariffs is the “elimination of China’s harmful acts, policies and practices.”
These tariffs are meant to directly target the specific industries most harming the U.S. economy.
They specifically mention the “Made in China 2025” state plan designed to ensure Chinese domination in emerging industries.
That policy directly interferes with Trump’s “America First” policies.
As reported by The Daily Caller:
“The U.S. is taking aim at a major Chinese development plan in response to alleged theft of American intellectual property and forced technology transfer.
The Office of the U.S. Trade Representative released a list Tuesday of around 1,300 Chinese products subject to punitive tariffs of roughly 25 percent. The proposed trade penalties are expected to come at about $50 billion for the Chinese. “This level is appropriate in light of the estimated harm to the U.S. economy,” the USTR explained, adding the goal is the “elimination of China’s harmful acts, policies and practices.”
“The total value of imports subject to the tariff increase is commensurate with an economic analysis of the harm caused by China’s unreasonable technology transfer policies to the US economy, as covered by USTR’s Section 301 investigation,” the relevant report stated.
When selecting Chinese products, government trade analysts focused on “products that benefit from Chinese industrial policies, including Made in China 2025” while striving to reduce the impact on Americans. The Made in China 2025 strategy is an ambitious state plan to ensure Chinese domination in emerging industries of particular importance, such as advanced robotics and aerospace technology. The goods on the USTR’s list include Chinese electronics, machinery and equipment, health care goods, and a number of other products.
The major Made in China 2025 strategy was announced two years ago and enjoys tremendous state support, which led to complaints state subsidies and beneficial government policies give Chinese companies an unfair advantage in global markets.”
This is one of many steps Trump is taking to combat the immense harm that China has done to the U.S. economy.
For many years they took advantage of lenient import taxes to destroy U.S. industry.
They also participated in currency manipulation to adversely harm the United States.
Trump is hopeful these new tariffs will encourage increased manufacturing in the United States.
Do you agree with Trump’s “America First” trade policy?
Let us know your thoughts in the comments section below.
