Analysis: Trump ratchets up his China trade war — and the disinformation about it
By Aaron Blake Aaron Blake Senior political reporter, writing for The Fix Email Bio Follow May 14 at 11:26 AM Trade wars are inherently wars of attrition. You tax your own companies to create incentives for them not to import so much. You are also creating incentives for the exporting country to drop their prices, which may hurt their economy.
In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong! — Donald J. Trump May 14, 2019 The clear suggestion is that these tariffs have created a shift in the relative strength and sizes of the two country’s economies. When Trump says, “We are now a much bigger economy than China,” he makes it sound like that is a new development.
....This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now! Then there is this tweet from Monday: “The unexpectedly good first quarter 3.2% GDP was greatly helped by Tariffs from China. Some people just don’t get it!”
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