President Donald Trump explained his frustration on the trade disparity between the United States and China by highlighting the unfair tariffs on automobile sales.
Trump highlighted the 2.5 percent tariff for cars coming to the United States from China while there was a 25 percent tariff for cars heading to China from the United States.
“Does that sound like free or fair trade?” Trump asked. “No, it sounds like STUPID TRADE – going on for years!”
Trump continues pressing China with tariffs in response to intellectual property theft and a massive multi-billion dollar trade deficit. On Sunday, he appeared optimistic that a deal with China could be made.
“President Xi and I will always be friends, no matter what happens with our dispute on trade,” he wrote. “China will take down it’s trade barriers because it is the right thing to do. Taxes will become reciprocal and a deal will be made on intellectual property. Great future for both countries!”
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When China was a third world country it made sense to help them but now they are a superpower and need to play on a level playing field.
ReplyDeleteChina was used as a hammer against American industrial power.
ReplyDeleteIt was used by the very people who benefitted from American industry.
The financiers of campaigns and corporations.