Donald Trump is preparing for a massive new trade war with China

[mahatmakanejeeves]

Source: Washington Post

ECONOMIC POLICY

Donald Trump is preparing for a massive new trade war with China

The former president has talked to advisers about imposing a 60 percent tariff sure to enrage Beijing

By Jeff Stein
January 27, 2024 at 6:00 a.m. EST



President Donald Trump talks with Steven Mnuchin during a meeting with Chinese Vice Premier Liu He on April 4, 2019, at the White House. (Bill O'Leary/The Washington Post)

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Former president Donald Trump is weighing options for a major new economic attack on China if reelected, considering plans that are widely viewed as likely to spark a global trade war.

Publicly, the GOP front-runner has endorsed downgrading China's trade status with the United States -- a move that would lead tariffs between the world's two largest economies to skyrocket. Revoking China's status as a "most favored nation" for trade -- which is applied to almost all countries the United States trades with -- could lead to federal tariffs on Chinese imports of more than 40 percent, according to one analysis. Trump has floated imposing a 10 percent tariff on nearly all $3 trillion in annual imports from all countries, including China.

Privately, Trump has discussed with advisers the possibility of imposing a flat 60 percent tariff on all Chinese imports, according to three people familiar with the matter who spoke on the condition of anonymity to relay private conversations.

{snip}

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By Jeff Stein
Jeff Stein is the White House economics reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox. Twitter https://twitter.com/jstein_wapo

Read more: https://www.washingtonpost.com/business/2024/01/27/trump-china-trade-war/

[bucolic_frolic]

1. Tariffs would fatten federal coffers for the next Uber Rich Tax Cut

Trump don't know beans about trade or manufacturing. We won't be making any Chinese products here.

[marble falls]

8. Ask American soybean farmers how much they liked the Chinese buying soybeans elsewhere ...

... the last time TFG got China's attention with tariffs.

[global1]

2. Tr**p Is Not The pResident - Why Would The WP Even Print A Story Like This.....

And I can't believe that Tr**p thought up this plan all on his own. Somebody is putting these ideas into Tr**p's head.

I thought Tr**p was friend with the Chinese PM.

What's he doing? Leading with his chin to start a global war?

This is insane. Or is this just a rumor that someone started to create trouble?

[marble falls]

16. EXACTLY! Why is he not being given short shrift like any other moron candidate? He's not a President.

[keep_left]

19. Where is Trump getting these moronic ideas? That's a good question that no one...

...can seemingly answer. My guess is that it's the idiots at a few of the Trumpy "think" tanks. Three of the most likely candidates: the America First Policy Institute, the Claremont Insitute and its affiliated make-work journals like American Greatness, and the Heritage Foundation, which in recent years has gone openly fash.

https://www.democraticunderground.com/100218555441
https://www.democraticunderground.com/100218115131#post10
https://www.democraticunderground.com/100218123549

[Shermann]

3. This pleases Elon Musk

I'm not a hater but he is currently pushing for tariffs to protect against BYD. I'm skeptical but not totally opposed to protecting American EV manufacturers. They are coming off of a tough year.

[wolfie001]

15. Hi! Any idea about all those Musk financial ads on YouTube?

Just curious. I did a google on it but it all came back irrelevant. It's a ploy where you earn 10% on every $3000 you invest per year. Sounds Bernie Madoff-ish part deux.

[cstanleytech]

4. Considering how much we import these days from China this would cause harm to every

American that isn't wealthy.

[calguy]

5. Nothing to Worry About

He's not now the president, nor will he ever be again.

[PortTack]

17. ☝️☝️☝️☝️☝️

[William Seger]

6. Trump doesn't understand tariffs or what "balance of trade" means

He thinks the tariffs will be paid by China, and that the trade deficit means that China is cheating us. Trump is so obnoxiously self-obsessed and dishonest that it's easy to forget that he is also unbelievably ignorant and stupid.

[NickB79]

11. Just like his border wall idea

Paid for by Mexico, he promised.

He's incapable of contemplating getting something using his own money, because he's used other people's money his whole life as a silver spooned grifter and tax cheat.

[Probatim]

7. Probatim is preparing for his date with three SI Swimsuit models.

Just because it's in print doesn't make it so - especially if the guy they are talking about isn't president.

[Blue Owl]

9. By Jeff Stein -- is that Jill Stein's brother?

[twodogsbarking]

10. Donald Trump planning to destroy America. Cover that.

[dalton99a]

12. Walmart shoppers will love it.

[wolfie001]

14. Well, those fools keep voting against their own interests, so.....

[wolfie001]

13. Nice back handed way to keep a steady inflow of cash

Xi wants to keep this obese liar happy, so he knows what to do. And yes, cash flowed into his bank account over there before. Keep the wheels greased. What a fat pig.

[Brainfodder]

18. What is with all this ludicrous coverage of Citizen Dingleberry plans that are so remotely unlikely?

[duforsure]

20. It'll cause higher prices, shortages,

And some smaller businesses to fail. As I recall after he raised tariff's before it caused the most farmers suicides since the great depression,, and cost u s with higher product cost, then he signed a bill giving farmers money from his failed policy.

On a larger scale it'll be really damage our economy, and China's too.