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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's Most Blatant Lie Is His Lie About Tariffs
President Donald Trump has galaxy brained himself into a something of a quagmire with China. For the better part of the past year, hes been imposing and subsequently escalating tariffs on goods imported from the nation in an effort to force them to renegotiate what he considers unfair trade practices. China hasnt been too interested in doing this, though, and American businesses and consumers continue to suffer from the new taxes that must be paid on products shipped across the Pacific.
Trump has responded the only way he knows how: doubling down. On Friday, he ratcheted up tariffs from 10% to 25% on $200 billion in Chinese goods, claiming that broken-down trade talks between the two nations are continuing in a very congenial manner, that there is absolutely no need to rush and that the massive tariff payments go directly to the Treasury of the U.S.
The problem is that this money is not coming from China, as Trump has claimed repeatedly. Its instead coming directly from Americans. On Sunday, Larry Kudlow, Trumps chief economic adviser, went on Fox News to try to explain whats been happening. It wasnt very hard for Chris Wallace to get him to begrudgingly admit the president is wrong and that its Americans who are footing the bill for his trade war.
The president says China pays the tariffs, said Wallace. They may suffer consequences, but its U.S. businesses and U.S. consumer that pay. Correct?
Uh, yes, to some extent, Kudlow stammered. I dont disagree with that. Again, both sides will suffer on this.
Link to tweet
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Hours after Kudlows appearance, Trump once again touted the money the United States is receiving from the tariffs which, it bears repeating, are being paid by American companies and consumers. We are right where we want to be with China, he wrote. Remember, they broke the deal with us & tried to renegotiate. We will be taking in Tens of Billions of Dollars in Tariffs from China. Buyers of product can make it themselves in the USA (ideal), or buy it from non-Tariffed countries.
https://www.rollingstone.com/politics/politics-news/trump-blatant-lies-tariffs-834548/
calguy
(5,292 posts)than it is to convince them that they've been fooled.
emmaverybo
(8,144 posts)policies. His willy-nilly and ego-driven moves have had the stock market on a roller coaster for some time. The stock market, even if one is not invested in it, is a measure of our economic health and impacts all of us.
thegoose
(3,115 posts)Self-interest, massive orange ego, greed....
Neither he or the other Pukes give a shit about us.
Celerity
(43,096 posts)target to blame for their shitty, hateful lives.