President Trump has had some serious tough talk for Chinese President Xi Jinping in recent days. Despite his historic Asia trip in November and warming U.S.-Chinese relations, the 45th President of the United States has been emphatic about righting a trade imbalance.
According to President Trump, the Chinese have long used their trade deficit with the United States to artificially prop up their currency, secure advantages in developing markets, and dominate investing overseas.
The recent back-and-forth between Chinese President Xi Jinping and President Trump have spooked tech and manufacturing stocks, stoking fears of a looming trade war.
Check it out from the New York Times:
President Trump said Thursday that the United States would consider slapping tariffs on an additional $100 billion in Chinese goods, escalating a potentially damaging trade dispute with Beijing.
Mr. Trump said in a statement that he was responding to “unfair retaliation” by China, which published a list on Wednesday of $50 billion in American products that would be hit by tariffs, including soybeans and pork. That move was a direct reaction to the tariffs on $50 billion in Chinese goods that the White House detailed on Tuesday.
“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers,” Mr. Trump said, adding that he had instructed the United States trade representative to determine whether tariffs on an additional $100 billion in goods were warranted and, “if so, to identify the products upon which to impose such tariffs.”
The announcement came one day after some of Mr. Trump’s advisers tried to calm markets and tamp down fears of a trade war between the world’s two largest economies, saying that the tariff threats were the first step in a negotiation process. Mr. Trump said in his statement that the potential for new tariffs would not preclude discussions with the Chinese “to protect the technology and intellectual property of American companies and American people,” but any new tariffs are unlikely to make that already tough task easier.
The move is a high-stakes gamble aimed at cowing China into backing down and forcing it to make the kinds of changes that the United States is seeking — namely reducing the coercive tactics American officials say Beijing uses to try to dominate leading-edge industries like artificial intelligence, robotics and autonomous vehicles. But the move could ultimately bring about the kind of retaliation from Beijing that has spooked stock markets.
It’s out hope that President Trump, a skilled negotiator and astute observer of personality, will successfully navigate these treacherous waters. The last thing this country needs is a trade war with it’s largest trading partner. If you look around your home, you’ll find that many of your electronics and other consumer goods are made in China. It’s only because the Chinese are so skilled that many of our luxury items are so affordable.
But President Trump knows what he’s doing and it’s our sense of things that Chinese President Xi Jinping will back down at the threat of losing American markets.
Way to go President Trump!
Keep up the good work, sir!
Do you still support the president 100%?