A bipartisan group of Senators passed legislation last night to impose trade tariffs on China in response to that nation’s manipulation of its currency.
By keeping the Chinese currency artificially low – China is eating our lunch when it comes to manufacturing and selling cheap goods – causing more and more factories and jobs to leave America bound for China. The Senate’s legislation puts in place a trade tariff – or tax – to level the playing field. But Republicans in the House have already come out against the legislation – as their corporate donors fear it could hinder their ability to offshore more American jobs – and there’s also a worry it could trigger a trade war with China.
Well – here’s a news flash – we're ALREADY in a trade war with China – and the dragon economy is creaming us. Time to ditch so-called Free Trade and get back to protecting AMERICAN industries – and AMERICAN workers.
3 comments:
You are smarter than advocating trade wars which have proven to be disastrous for all countries,as well as passing laws to control other countries currency
Have you no sense of history?
You may want to look up Smoot-Hawley. Passing a bill hiking tariffs during a recession means we'll end up in a Depression.
Free trade creates more jobs than it destroys. That's a fact. "Protecting" American workers simply means keeping people working in industries where they aren't efficient. It's bad for consumers and it's bad for our economy.
The U.S. Politicians work for the people who benefit from a massive trade imbalance with China and other countries.
The Politicians have no power to enact tariffs.
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