As you review this CNN article it is CRITICAL to remember there are two divergent U.S. economies: a Wall Street economy, and a Main Street economy. The DC UniParty Politicians, the Globalists and the MSM will instantaneously conflate the two. Stay sharp.
The direct target of the tariff approach is the enhancement of the Main Street economy. Due to the global nature of Wall Street this immediately puts their financial relationship, their economic risk, in the same place as the risk for foreign countries which would be subjected to the economic leveling of the trade equation.
Again, stay intellectually sharp – this is where we are going to have to fight “the big club“. Understanding how their “trillions of dollars at stake” are placed within the equation is a critical aspect to understanding how the UniParty will attack.
Washington (CNN) – The Trump transition team is floating the possibility of an early executive action to impose tariffs on foreign imports, according to multiple sources.
Such a move would deliver on President-elect Donald Trump’s “America First” campaign theme. But it’s causing alarm among business interests and the pro-trade Republican establishment.
The Trump transition team didn’t immediately respond to a request for comment on the prospect of new tariffs. But a transition official said the team has discussed implementing a border adjustment tax measure under consideration by House Ways and Means Committee Chairman Kevin Brady, which would tax imports to spur US manufacturing.
Curbing free trade was a central element of Trump’s campaign. He promised to rip up the North American Free Trade Agreement with Mexico and Canada. He also vowed to take a tougher line against other international trading partners, almost always speaking harshly of China but often including traditional US allies such as Japan in his complaint that American workers get the short end of the stick under current trade practices.
It is an area where there is a huge gulf between Trump’s stated positions and traditional GOP orthodoxy. Business groups and GOP establishment figures — including House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell — have been hoping the transition from the campaign to governing would bring a different approach. (read more)