So are the American consumer’s, farmers and some manufacture’s….
Higher consumer prices are occurring….
Farmer’s are losing their sales to China….
Manufactures’ are in for higher import taxes on good sold to China….
Today Trump has become so desperate he has turned to threatening his own countries company heads to stop making things in China as China looks to increase import taxes on $75 billion of American imported goods…..
As I type this the US Stock Market is down almost 600 points….
Oh, and the Fed Chair has come out a warned that Trump’s war IS hurting there American economy at a time when other countries economies are also shaky….
Hours after Beijing said it would increase tariffs on American goods in response to President Trump’s latest round of Chinese levies, the president demanded companies in the United States to stop doing business with China and warned of additional retaliation.
In a series of angry Twitter posts, Mr. Trump said “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing our companies HOME and making your products in the USA.”
The president also said he was ordering the United States Postal Service and private American companies like FedEx, Amazon and UPS to search packages from China for the opioid Fentanyl and refuse delivery.
The Trump ‘ordering’ American companies post is here…..
Jonathan Chait: “President Trump is in the midst of a public meltdown that is humiliating, scary, and banana republic–y even by Trumpy standards. The reason is that Trump started a trade war and China refuses to back down, having announced this morning that it is imposing retaliatory tariffs on $75 billion worth of U.S. goods.”
“Trump has picked fights with lots of countries. Usually they either placate him or try to give him a face-saving way of de-escalating (e.g., Mexico, which is never going to pay for the wall but doesn’t talk about the fact that it’s never going to pay for the wall anymore). Sometimes they get Trump to fold by stroking his ego (the North Koreans have carried out the most over-the-top version of this tactic).”
“China is playing it differently.”….
From China’s perspective, a reactive US president is weak, not strong. They see Trump as worried purely about his re-election & the economy’s effect on it. That is an opportunity to apply more, not less pressure. They have the benefit of time, money and no political calendar….
President Trump on Friday announced plans to increase tariffs on hundreds of billions of dollars in Chinese goods in a sweeping response to duties announced by Beijing earlier in the day.
Trump tweeted that a 10 percent tariff on $300 billion in Chinese goods set to go into effect on Sept. 1 would increase to 15 percent, and that an additional $250 billion being tariffed at 25 percent will be hit with a 30 percent tariff starting Oct. 1.
“China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!)” Trump tweeted.
The move marks the latest salvo in Trump’s trade war with China, which has dragged on for more than a year with few signs of a resolution in sight….
Donald Trump has said he doesn’t give a shit if Americans suffer because of his actions….