Biden slams Trump over escalating trade war with China
Speaking to reporters during a campaign stop in New Hampshire, the former vice president and front runner in the battle for the Democratic presidential nomination charged that Trump has “gone about it all the wrong way.”
Pointing to the president’s decision to raise tariffs to 25 percent on $200 billion worth of Chinese goods, Biden said that "the only people paying the price are farmers and working people right now.”
Biden’s comments came soon after China’s finance ministry announced that in response to Trump’s moves, it was raising tariffs on a wide swath of American goods and products from 10 percent up to 20-25 percent beginning in June. The latest move by Beijing will hike tariffs on some $60 billion in American goods.
These and other comments tell you exactly where Bidn would be in trade negotiations with China. Give them anything and everything they want with nothing for the US. Very reminiscent of all Dem trade deals and negotiations.
Pointing to the president’s decision to raise tariffs to 25 percent on $200 billion worth of Chinese goods, Biden said that "the only people paying the price are farmers and working people right now.”
Biden’s comments came soon after China’s finance ministry announced that in response to Trump’s moves, it was raising tariffs on a wide swath of American goods and products from 10 percent up to 20-25 percent beginning in June. The latest move by Beijing will hike tariffs on some $60 billion in American goods.
These and other comments tell you exactly where Bidn would be in trade negotiations with China. Give them anything and everything they want with nothing for the US. Very reminiscent of all Dem trade deals and negotiations.
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#2 is a distinct possibility and a great opportunity for other countries. We are actively looking at Taiwan, Vietnam, S Korea, Thailand. If fat boy wasnt so into control, this is a great opportunity for N Korea, but that wont happen.
China cant do #3. They are too far down the road and their government IS communist, so they only embrace capitalism in order to enable their collectivism.
China and USA MIGHT make a deal in order to stop this tariff process, but it would be kind of a hollow deal that looks good but doesnt fix anything. If it happens within a couple of months, Trump in 2020 might be saved. If there is no deal, Trump is done, as well as the Repubs in 2020. Socialism will take over then.
The need for a tariff duty (tax) seems to come from the imbalance in trade which makes money more valuable, if China hoards the money, else it needs to invest it somewhere and eventually returns to the USA with some countries earning it and then importing goods from the US or investing in the US economy. On the small level, I spend money every month and do not expect to own that money and expect to get it back from the new owner of the money. I exchanged the money for what I thought was more valuable than the money. Like all free trades, the traders believe that they are giving up something of lesser value for something more valuable.
I do not see any advantage to decreasing the standards of living for some US citizens by increasing taxes (duties).
I would add thanks to freedom and.....
1) If by 2020 Americans discover they don't need China and start making stuff on their own again and take pride in their newly discovered abilities to produce, then Trump will win in a landslide.
2) If by 2020 Americans discover they don't need China because they can get decent cheap goods elsewhere and cut China out of the loop and combine that with 1 above, then Trump wins in a landslide.
3) If before 2020 China blinks and cuts a decent deal, then Trump will win in a landslide. China better cut a decent deal before 1 or 2 above come to fruition - and I suspect they know it.
Essentially, the US enterprises and other parts of the world are now getting an opportunity to gear up and kick China where it hurts.
Who knows? Maybe the Dow Jones Industrial components will get back to actually being industrial again.
Cannot trust the Chinese to do anything except doing what ever they feel is right for them.
We have become so dependent on China that most of our military vehicles rely on Chinese-made electronic components. If tariffs help us get back the ability to create our own technological production, it will stimulate more value than we lose.
American workers are still the world's most productive, thanks to our ability to innovate. We need to regain the lead in AI and computer technology, and restart other industries to retain that kind of productivity.
There are developing countries we can buy low cost goods from, and they need the help to grow their economies. China is not absolutely essential for us. We've just become addicted to their cheap goodies, and we need to kick the habit.