For decades, America has been very neglect in negotiating most international trade agreements.
They have allowed many nations to take advantage of America, American goods and American workers.
Thanks to unions, a number companies took their jobs to other countries as well, further hurting American workers and the American economy.
No one has been willing to address the lopsided trade deals, until Donald Trump became President.
Being he is a shred businessman and not a politician, he saw the trade imbalance and was determined to fix it.
While many agree it needs fixing, they aren’t sure that using tariffs to fix it will work.
The tariffs Trump has placed on China is mounting up and according to a report out of China, they are not happy and are planning to take more action against the US, further escalating the growing trade war.
(Newsmax) – China will not be content to only play defense in an escalating trade war with the United States, a widely read Chinese tabloid warned, as U.S. President Donald Trump was expected to announce new tariffs on $200 billion in Chinese goods as early as Monday.
The United States and China have already levied duties on $50 billion worth of each other’s goods in an intensifying row that has jolted global financial markets in the past few months.
Meanwhile, Trump issued several tweets Monday morning underscoring his belief in tariffs.
“Tariffs have put the U.S. in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country – and yet cost increases have thus far been almost unnoticeable,” Trump wrote on Twitter. “If countries will not make fair deals with us, they will be ‘Tariffed!'” …
The US Treasury Department has invited Chinese leaders to talks concerning trade and the tariffs, in hopes of being able to negotiate a better deal of the US, but many are pessimistic that such talks, if they happen, will result in any progress.
In the meantime, Trump is touting that the tariff on steel imports has resulted in the construction of new steel plants in the US, which is giving the steel industry and huge boost.
However, one Chinese source says that they are mounting a counter measure that they hope will inflict great pain to the US and it’s economy.
One of those measures being considered by the Chinese could be the restriction of exporting raw material and components used by many US manufacturing companies, a move that could have a strong impact on some US business sectors.
The opinions expressed by columnists are their own and do not necessarily represent the views of Barb Wire.