Moooore sanctions!
by
David J. Lynch
Richard McNulty of Sankey's Feed Mill walks through stacks of feed, which include ground soybean, in Volant, Pa. China plans to tax $50 billion of U.S. products, including soybeans, corn and wheat. (Keith Srakocic/AP)
President Trump ordered his chief trade negotiator to consider imposing tariffs on an additional $100 billion of Chinese products Thursday, in a dramatic escalation of his trade war with China.
The president said he was acting in response to China’s announcement of plans to introduce new import taxes on $50 billion worth of American goods. Beijing’s action in turn followed Trump’s April 3 move to target a similar amount of Chinese imports in a rebuke of China’s trade practices.
“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers. In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs. I have also instructed the Secretary of Agriculture, with the support of other members of my Cabinet, to use his broad authority to implement a plan to protect our farmers and agricultural interests,” the president said.
His surprise statement, issued well after 6 p.m., left the door open to talks between the two sides.
“The United States is still prepared to have discussions in further support of our commitment to achieving free, fair, and reciprocal trade and to protect the technology and intellectual property of American companies and American people,” the statement said. “Trade barriers must be taken down to enhance economic growth in America and around the world. I am committed to enabling American companies and workers to compete on a level playing field around the world, and I will never allow unfair trade practices to undermine American interests.”
Trump accuses China of creating a $500 billion trade deficit
@DonKnock @dza @88m3 @wire28 @smitty22 @fact @Hood Critic @ExodusNirvana @Blessed Is the Man @dtownreppin214 @JKFrazier @BigMoneyGrip @Soymuscle Mike @.r. @Dorian Breh @Dameon Farrow @TheNig @VR Tripper @re'up @Blackfyre_Berserker @Cali_livin
if that graph is accurate ...
