Looks like Donald Trump is really putting the screws to China. He’s slapping some huge tariffs on them. $200 billion worth of tariffs in fact.
The Trump administration on Monday announced new tariffs on $200 billion of Chinese imports, a sharp escalation of its trade fight with China that will also exact costs on a wide range of American businesses and consumers.
The new tariffs, to take effect next Monday, would initially be set at 10% but climb to 25% in the new year. With Trump already having slapped 25% tariffs on about $50 billion of Chinese goods, the United States by next week will have imposed significant taxes on about half of all Chinese merchandise entering American borders.
This is long overdue. For years the Chinese have dumped their cheap chink crap into our country without paying any taxes. Meanwhile, American companies were largely shut out of the Chinese market due to their extensive protective barriers. This is why there’s been such an enormous trade imbalance and jobs disappearing from America.
It’s good to see that those days are coming to an end. Trump’s policies on trade are 100 percent correct and are helping fix many of the problems we’ve had with America’s economy. Hopefully he keeps slapping tariffs on China until they come to their senses and strike a reasonable trade deal.
If they don’t come to the table, it will be at their peril. The Chinese need access to the American market far more than America needs access to China. And besides, it’s not like we’ve really had access to it to begin with.
