Trump Regime to Impose $200 Billion More Duties on Chinese Products

Trump Regime to Impose $200 Billion More Duties on Chinese Products

forex
by Stephen Lendman (stephenlendman.orgHome – Stephen Lendman)

On Wednesday, the Trump regime extended a short-lived olive branch, asking China to restart trade talks.

Four earlier rounds failed to resolve major differences. New talks won’t likely achieve what earlier ones didn’t resolve. Beijing considers Trump regime demands unacceptable.

They aim to undermine its “Made in China 2025” strategy, aiming to advance 10 economic sectors to world-class status, including information technology, high-end machinery and robotics, aerospace, marine equipment and ships, advanced rail transport, new-energy vehicles, electric power, agricultural machinery, new materials and biomedical products.

Washington wants China and other countries to be subservient to its interests. Trump’s “America first” agenda pressures them to bend to its will, notably wanting Beijing prevented from becoming more of an economic powerhouse than already, able to challenge and surpass US preeminence.

Trump’s head fake Wednesday outreach was followed a day later by reportedly authorizing another $200 billion in duties on Chinese products – not officially announced so far.

DJT said they’ll be imposed soon,  without saying when, indicating he may impose duties on all Chinese imports, a reckless full-scale trade war if he follows through, a harebrained scheme, assuring losers, not winners.

According to reports, Trump met with Treasury Secretary Mnuchin, Commerce Secretary Ross, and Trade Representative Lighthizer on Thursday.

Tweeting he’s “under no pressure to make a deal,” he claimed China is “under pressure to make a deal with us,” adding: “We will soon be taking in billions in tariffs and making products at home.”

New tariffs would be on top of duties on $50 billion worth of Chinese products. Beijing promised equivalent measures in response to unacceptable Trump regime actions.

Last week he threatened duties on another $267 billion of Chinese imports – along with earlier tariffs, covering virtually all its products, saying new duties are “ready to go on short notice.”

Trump’s bravado about being able to win a trade war is foolhardy and wrongheaded. China is an economic powerhouse, unwilling to be bullied and pressured.

It’s no pushover like most countries the US imposes its will over, including EU nations, Mexico, Canada and others.

A full-blown US trade war with China will negatively affect the global economy, likely harming smaller countries most. When elephants fight, the grass gets trampled. 

Trump and regime officials will discover their mistakes the hard way if they foolishly follow through with toughness on China.

VISIT MY NEW WEB SITE: stephenlendman.org (Home – Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.

 

My newest book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III."

http://www.claritypress.com/LendmanIII.html

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