The President just fired off a series of tweets reporting on the success of tariffs. The Chinese economy has been having some problems since Trump started rolling them out.
Tariffs are working far better than anyone ever anticipated. China market has dropped 27% in last 4months, and they are talking to us. Our market is stronger than ever, and will go up dramatically when these horrible Trade Deals are successfully renegotiated. America First…….
— Donald J. Trump (@realDonaldTrump) August 4, 2018
….Tariffs have had a tremendous positive impact on our Steel Industry. Plants are opening all over the U.S., Steelworkers are working again, and big dollars are flowing into our Treasury. Other countries use Tariffs against, but when we use them, foolish people scream!
— Donald J. Trump (@realDonaldTrump) August 4, 2018
….Tariffs will make our country much richer than it is today. Only fools would disagree. We are using them to negotiate fair trade deals and, if countries are still unwilling to negotiate, they will pay us vast sums of money in the form of Tariffs. We win either way……
— Donald J. Trump (@realDonaldTrump) August 4, 2018
….China, which is for the first time doing poorly against us, is spending a fortune on ads and P.R. trying to convince and scare our politicians to fight me on Tariffs- because they are really hurting their economy. Likewise other countries. We are Winning, but must be strong!
— Donald J. Trump (@realDonaldTrump) August 4, 2018
The Chinese are probably thinking that they can launch a public relations blitz to try and get Trump to reverse direction. It’s not going to work. Trump has been talking about the problem with trade for decades and he knows that this is the only way to fix it.
China should start negotiating in good faith instead of playing these games. Anybody with basic common sense can see what a lopsided deal this has been for the past couple of decades. And besides, the Chinese need access to our market more than we need access to their market. But hell, they’ve barely given us access to their market so it really doesn’t matter what they do on their side. We have all the cards.