President Trump looking to impose tariffs on Chinese imports, including tech products

Billionaire Woody Johnson was appointed ambassador to the UK last August

Good decision. The financial markets rallied, as the new plan specifically targets countries that are cheating and stealing, such as China and Russian Federation, and provides exemptions for allies.

For a guy who has supposedly mastered "The Art of the Deal", Trump should know this is a failing strategy.

The Trump administration tried to justify invoking the security factor by saying steel and aluminium are needed to make tanks, fighter planes and other weapons of war.

That's a useful lesson for our friends and foes alike.

The same could be said of Trump, who is clearly playing to a segment of the US population that believes, as do millions of people around the world, that free trade is a good theory but can be and is being abused by others at the expense of jobs and growth at home. That is theft, and it can not stand. This decision will not only disturb financial markets for the short term but also leave lasting damages on the U.S. -Europe relations for long term.

But there were also winners on the American side. We are being played as suckers. The proposed tariffs are based upon findings from an investigation by U.S. Trade Representative Robert Lighthizer which was formed to determine whether China's practices are discriminatory or restrictive for U.S. commerce.

Based on my conversations with Donald Trump on this subject, his doctrine is predicated on the undeniable truism that nations, such as China and Russian Federation, need America far more than we need them. His many commentaries and essays spelled out the benefits of open borders, including a popular essay titled "The Case for Free Trade". "You can't cooperate when you're getting whacked around", the person told Reuters. Since we are the global alpha male, we can make the rules - rather than hand them off to the feckless bureaucrats at the World Trade Organization.

And, he added, instead of threatening a trade war, Trump should restart the trans-Atlantic free trade negotiations between the USA and the European Union which began under former president Barack Obama but were never finished. He wants to make access to US markets contingent on foreigners' playing by the rules (e.g., paying full price for the research costs of our technologies).

He added: "Although the USA trade balance is very negative with China, more U.S. public companies would be hurt by a trade war with China than would be helped". If they don't cooperate, they will pay a toll or tariff.

Trump has said he wants to "create a level playing field" for American companies and American workers.

The Chinese aren't going to like having to conform to these new rules, but what alternative will they have?

Another contrast with the Reagan-era measures is that we are living in a more advanced stage of globalization, and the problems that have accompanied it are greater. If we lose access to their cheap goods and services, we pay more for clothes and toys and toothpaste at Walmart. Their experience and observation would be that local jobs and incomes are lost when "unfair" imports replace local goods. We could give China the choice between cooperating in the nuclear disarmament of Beijing's lap dog, North Korea, and losing access to American markets. At that point, an old-fashioned trade war may seem irresistible, to provide distraction and political cover. He categorically rejected the claim that such a policy could only be adopted if other nations did the same. Last year, the United States grew its trade deficit to $566 billion.

Defenders of the tariffs argue that steel and aluminum are important for national defense, and so need to be protected even at the cost of less martial industries. Other countries that impose restrictions on global trade do hurt us. Certainly our farmers, our technology and pharmaceutical companies and our industrial blue-collar workers would applaud that.

"China urges the United States to respect the authority of the multilateral trade system, and repeal the measures as soon as possible", a China Ministry of Commerce statement recommended. This free trade rhetoric is disguised anti-Americanism. His latest book is "Fueling Freedom: Exposing the Mad War on Energy".

Related News:

Most liked

Reports Of Shots Fired, Person With Gun On Northwestern Campus
Cops rushed to the Evanston campus amid reports that someone had opened fire inside the Englehart Hall residential building. . As this story is developing, more information will be added and updated as made available .

Sacking Dr Drabu will not redeem the PDP sins: Omar
Drabu, a former journalist and an economist, was appointed finance minister by former chief minister Mufti Mohammad Sayeed. Drabu has been in the eye of a storm after his remark at a function in Delhi that Kashmir "isn't a political issue".

Celtics' Smart out indefinitely with thumb injury
He was also shooting 42.2 percent from the floor, 23.6 percent from three-point range and 79.8 percent from the free-throw line. According to a league source , the C's have no idea about Smart's probability of return. "It's like a sprain right now".

Mission 2019: Sonia Gandhi hosts dinner to opposition parties
Congress party former chief Sonia Gandhi on Tuesday hosted dinner for leaders from the opposition parties. He also said the leaders reflected tremendous positive energy, warmth and genuine affection.

Skyrim VR is Coming to PC Headsets on April 3, 2018
Skyrim VR includes the critically-acclaimed core game and official add-ons - Dawnguard , Hearthfire , and Dragonborn . VR gaming is still sort of working itself out at the moment, with most games delivering an arcade style experience.

Google Will Ban All Cryptocurrency-Related Advertising
Together, the web giants command about half of the world's online-advertising dollars, according to eMarketer. More info at Google via CNBC .

Ukraine comes third in overall medal count
Marcoux, who won downhill gold with guide Jack Leitch earlier at these Games, rode a strong second run to a spot on the podium. McKeever passed the late Lana Spreeman, an alpine skier who captured 13 Paralympic medals between 1980 and '94.

Netflix, Inc. (NFLX) Shares Bought by Brighton Jones LLC
On Tuesday, the stock touched an all-time high of $325.79, up 70% just this year (after gaining 55% last year). Finally, WINTON GROUP Ltd acquired a new stake in shares of Netflix in the second quarter worth $787,000.

Trump Talks Traveling To Mars, Proposes New Space Force
As reported by the Huffington Post , Trump wrote that it was his great honor to speak at the "Marine Core Air Station Miramar". He deployed some used vehicle lingo, saying new CH-53K King Stallion helicopters were being delivered.

Bears miss out on big dance, NIT bound
Eight SEC teams were picked for the 68-team NCAA field, compared to four from the Big Ten. On their final NCAA team sheet, the Huskers' RPI was 56, with an average RPI win of 180.

Microsoft Teams to have Cortana integration, other features
Microsoft Teams will also be supported on Microsoft Surface Hub , to enhance Teams abilities in confined spaces and meeting rooms. Another interesting feature, cloud recording will allow "one-click meeting recordings" for participants to playback at any time.

Dharmendra Pradhan files nomination paper for Rajya Sabha from MP
UP BJP vice-president JPS Rathore told PTI, "The party has fielded 11 candidates for the ongoing Rajya Sabha elections from UP". I have already been a Member of Parliament for five years - two times from Rajya Sabha and three times from Lok Sabha.

NCAA Men's Basketball Tournament Notebook: Virginia's Hunter out for NCAA Tournament
The freshman guard doesn't get the press that Kyle Guy or Ty Jerome do, but Hunter was an invaluable piece of Virginia's bench. Hunter, a redshirt freshman, averaged 9.2 points and 3.5 rebounds in 33 games for the top-ranked Cavaliers.

Rising trend of casino apps
For those who are looking for a specific game, Cherry Rush also includes a description of what games can be found each site. It used to be that if someone wanted to play a casino game they had to find a land based venue.

Bets for upcoming Southampton vs Arsenal fight
Neither Arsene Wenger nor his players could afford themselves to lose another match if they still want to be in the top four. Arsenal is still keeping the dream to be qualified in Champions League after the victory over Manchester on Sunday.