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Monday, April 09, 2018

China surrenders its auto tariffs

Earlier today, President Trump, R-USA, tweeted, "When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE -- going on for years!"

Oh no! The trade war is on.

Minutes ago, CNN reported, "China's Xi announces plans to 'open' China, including lowering tariffs on imported autos."

Now the devil is in the details, but the media's Trade Wars hysteria is turning out much like the media's World War 3 hysteria -- Fake News.

"Xi Jinping discussed plans to further open up the Chinese economy during a Tuesday address," CNBC reported. It already is tomorrow in Asia.

"Those measures included significantly lowering import tariffs for autos and other products, enforcing the legal intellectual property of foreign firms, and improving the investment environment for international companies."

That is pretty good news.

"China does not seek trade surplus. We have a genuine desire to increase imports and achieve greater balance of international payments under the current account," Chairman Xi said at the annual Boao Forum for Asia.

That is BS, but so is his title as "president."

However, Xi knows he has to reduce his trade surplus with the United States or else face the possibility of Trump ending China's Most Favored Nation status, even though Bush 43 made it permanent on December 27, 2001.

Despite what globalists say, America no more needs China than a bear needs a toothache. If we ended trade with China tomorrow, we would be $360 billion richer each year.

Trump entered this trade battle with China knowing full well he would prevail.

9 comments:

  1. Trump is a lot smarter than he looks, so he gets misunderestimated all the time. Heh, heh, heh.

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  2. Something curious is going on here. If the left is correct, and Trump is on the outs, you would think that the Chinese would know all about it and wouldn't pay much attention to what he says, let alone act on any of it. To say that they don't grasp the situation here is to overlook the fact that there are hundreds of thousands of Chinese here in this country right now. I live in a university town. They are everywhere. Grad students from China even own businesses here. They interact with everyday Americans more than the mainstream media do.

    Do they see a different America than the media portray?

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  3. I love it when a plan comes together.

    (somebody was gonna say it...)

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  4. Somebody should tell Wall Street also. Seems to me there is a definite correlation between this recent hard downturn in the markets and the media blah blah blah about a trade war. Don't listen to blah, guys - stick to the facts.

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  5. Most of the low priced goods you enjoy at the big box stores would be wiped out without imports. We wouldn't be millions richer, we'd be without affordable goods. Those millions we spent are in your home and office in the form of practically everything you own. Things made in America are a minority of goods you own. Be careful what you wish for.

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    Replies
    1. Uhm, at what cost? Moreover, who says costs of those cheap items would not still be pretty cheap?

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  6. If the left's entire argument is that we would lose out on cheap imported goods, they really just lost their Marx card.

    ReplyDelete