President Trump Announces Tariff Increases on Chinese Products…

President Trump has announced the raising of tariffs on China effective Sept 1st and October 1st, 2019.  This is one arrow in a quiver filled with economic consequences:

  • The preexisting 25 percent tariff on $250 billion in Chinese goods will increase to 30 percent effective October 1st, 2019.
  • The pre-planned 10 percent tariff on $300 billion worth of Chinese goods will increase to 15 percent, effective September 1st, 2019.

This targeted tariff approach is only a small sample of the economic action that is available to President Trump.  There are a host of tools and targeted economic weapons available to President Trump that are far more damaging to Beijing.

This announcement also sends a clear message to the members of the G7 as they prepare for their meetings in France.

Additionally, President Trump is setting up a political dynamic that is visible on the horizon.   As the trade conflict gets more serious; as President Trump targets more leverage upon the Chinese economy; he is positioning the 2020 Presidential race as a choice between two candidates:  Either President Trump, or Chairman Xi Jinping.

Voting for the best outcome for USA and Main Street will mean a vote for President Trump.  Voting for the best outcome for China and Wall Street will be a vote for the Democrat candidate.

President Trump is clearly, and smartly establishing this domestic political dynamic within the trade conflict with Beijing.

Wolverines!

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This entry was posted in Auto Sector, Big Government, China, Communist, Donald Trump, Economy, Election 2020, European Union, G7, Japan, media bias, President Trump, Trade Deal, Uncategorized, US dept of agriculture, US Treasury, USA. Bookmark the permalink.

248 Responses to President Trump Announces Tariff Increases on Chinese Products…

  1. MicD says:

    I think POTUS just gave Xi the walking farts.

    t/p Larry :p

    Liked by 4 people

  2. A2 says:

    👇👇👇

    World Bank coming under fire.

    “Xinjiang
    August 23, 2019
    (Washington)–U.S. Representative James McGovern (D-MA) and U.S. Senator Marco Rubio (R-FL), the Chair and Cochair respectively of the bipartisan and bicameral Congressional-Executive Commission on China (CECC), today released a letter to World Bank President David Malpass expressing concern and raising questions about a World Bank loan that funds technical and vocational training projects in the Xinjiang Uyghur Autonomous Region (XUAR). In the XUAR, the Chinese government is arbitrarily detaining over a million Uyghurs and other Turkic Muslims in mass internment camps, actions that “may constitute crimes against humanity.” These camps have often been defended by Chinese officials as a system of vocational education, thus spurring the concern of the CECC Chairs in the World Bank project. ”

    https://www.cecc.gov/media-center/press-releases/xinjiang-chairs-ask-whether-world-bank-funding-crimes-against-humanity

    Liked by 5 people

  3. snarkybeach says:

    David Asman (in for Lou Dobbs) with Peter Navarro:

    Liked by 9 people

  4. JAS says:

    This needed to be done a long time ago and I’m all for it. That said, the long delay by past presidents and government made China hugely stronger, both economically and militarily. This is like a rerun of the embargoes on Japan (oil, etc.) in the late 1930’s, early ’40’s. Historically these things have always led to shortages and later. violence.

    Plan your personal situation accordingly…..

    Liked by 6 people

  5. Paul says:

    YAY! He did it! Yay!

    Liked by 3 people

  6. Anonymous says:

    “Thank you for your attention to this matter!” HaHa! Back at’cha, Nancy

    Liked by 2 people

  7. A2 says:

    👇👇👇
    Zombie apocalypse

    ‘China Is Only Nibbling at the Problem of “Zombie” State-Owned Enterprises’
    (Excerpt)
    “Between 2015 and 2018, the number of enterprise insolvency cases, involving firms with all forms of ownership, that were accepted and adjudicated annually by the Chinese legal system grew roughly fivefold”

    “China’s economic growth in recent years has been hobbled by the many long-term money-losing firms, often state-owned, dubbed as “zombie companies” because they are effectively insolvent but kept alive only by continuous bank loans and government subsidies. From 2008 to 2018, China’s nonfinancial corporate debt grew more than fourfold, from $4.56 trillion to nearly $20 trillion, according to the Bank for International Settlements. The International Monetary Fund (IMF) estimates that zombie firms constituted almost one tenth of all nonfinancial corporate debt in China in 2016.[1]”
    https://www.piie.com/blogs/china-economic-watch/china-only-nibbling-problem-zombie-state-owned-enterprises

    Liked by 4 people

  8. bertdilbert says:

    “This announcement also sends a clear message to the members of the G7 as they prepare for their meetings in France.”

    Trump will enter the G7 flanked by his leg breakers Pompeo and Bolton…

    Liked by 10 people

    • rvsueandcrew says:

      This visual gave me the biggest laugh of the day. Thanks, bert!

      Liked by 3 people

    • jmarshs says:

      As much as I don’t like Bolton’s interventionist ideas and neocon desire for never ending, costly regime change wars, he is a good guy to have by Trump’s side – so long as he is kept on a short leash. Trump, the master at leverage, as is every successful developer, knows this.

      Liked by 1 person

      • bertdilbert says:

        Yeah but that is the whole point of having Bolton on team. Everybody knows Bolton’s hawkish tendencies. Better make a deal with Trump or this Bolton guy, who knows what he is going to recommend to Trump! It is just another layer of power Trump adds to the stage.

        Liked by 4 people

  9. Bogeyfree says:

    I wonder if you took all of our trade imbalances plus how much over the 2% NATO amount we are paying plus all the country supplements we provide just how many trillions of dollars that would total up to be?

    Then take that number and divide it by 250M American adults in this country and in essence that is how much every American is paying to support the rest of the world.

    My guess is this is near $5T dollars so if we divide that by 250M adults then in essence each American adult is paying $20,000 annually to support the world.

    Could you imagine if PT went on TV to explain this and said I’m sorry but the Democrats and the MSM want each American to write a check in the amount of $20,000 EVERY YEAR so we can support the world.

    Liked by 6 people

  10. frank field says:

    Xi? Liar. Thief. Oppressor of Chinese proletariat. Progenitor of drugs into America…and on and on…

    Trump? American Constitutionalist. Nuff said.

    Trump for Rushmore

    Liked by 4 people

  11. Daniel says:

    Trump gave them a chance to act right and was going to let things remain through the holidays. But no. Someone did something which absolutely convinced Trump the time for negotiations are over. The next negotiation will be terms of surrender.

    If China dares to do anything military, it will not go well for them. Let’s see how North Korea responds in all of this.

    But it’s absolutely clear things have shifted. What drastic things will occur from the left next? I have no guess though I suspect the Fed may do something ridiculous.

    We are in short supply of patriots in this country. Very short supply and few if any are in the legislature. But on the plus side, the enemies of the executive branch have spent all of their ammunition. They have nothing on him and everything to fear from the Trump administration (though they do not reflect this, so that bothers me). So impeachment is off the table.

    How can Trump reign in the Federal Reserve or will he go the way of Lincoln and bring back the greenback?

    Liked by 3 people

  12. Jedinovice says:

    Well, the only way to save Hong Kong is to crash Communist China completely.

    That seems to Trump’s approach…

    Like

  13. Electra says:

    Only a few days ago, Pres. Trump was making nice with the head honcho of Apple and agreeing to postpone new tariffs until after Christmas. Someone must have done something really freakin’ horrible to cause this kind of about-face. The big question is was it the Chinese or was it Big Tech who done the dirty deed.

    Like

  14. spoogels says:

    New Steve Bannon Film Set for Sept. Release: “Claws of the Red Dragon” Exposes Huawei and Chinese Communist Party (TRAILER)

    https://www.thegatewaypundit.com/2019/08/new-steve-bannon-film-set-for-sept-release-claws-of-the-red-dragon-exposes-huawei-and-chinese-communist-party-video/

    Liked by 1 person

  15. dustycowpoke says:

    How did the Chinese get the tech to make a space vehicle to explore the moon? Stolen or a parting gift?

    Like

  16. China seems to think President Trump will lose his nerve and cave.

    Bad misreading of the situation on their part. It’s like they’ve never heard the story of Brer Rabbit and the briar patch. Xi keeps throwing Trump into a bigger briar patch.

    Like

  17. Pat Thomas says:

    China steals US intellectual property via cybertheft, forces U.S. companies in China to transfer technology, hacks our computers, dumps into our markets to put U.S. companies out of business, subsidizes state-owned enterprises to eliminate with U.S. firms, manipulates its currency, and, despite our protests, ships to the USA the fentanyl drug that has become a major killer of Americans.

    Such practices enable China to run up annual trade surpluses of $300 billion to $400 billion at the expense of the US and have caused the loss of 70,000 factories and 5 million mfg jobs in the U.S. over the past decades under both Republican and Democrat presidents.

    Americans need to better understand China read “China’s Vision of Victory” by Johathan Ward. They are rapidly moving to displace the US as the #1 economy and the #1 military. China has moved from #6 to #2 in world economy rankings in less than 10 years.

    China has a long rich history, 100’s of years of being the world’s #1 economy. After their fall from the world power stage (seeOpium Wars), the British owned the 19th Century, then the American’s in the 20th Century….it may well be the Chinese that own the 21st Century, they vow to become a leader in today’s world economy… and have learned their lesson after the “100 years of disgrace”…. in that they need the #1 military in order to become the #1 economy again.

    President Trump recognizes this and is trying to do something about it. Wake Up Americans!

    Like

  18. Perot Conservative says:

    And Pelosi, Trudeau, and some Democrats will try to block USMCA.

    Like

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