U.S. took tough action against China’s abusive trade practices

U.S. took tough action against China’s abusive trade practices

We just had a new one this is unbelievable - cybersecurity in China, they just passed a law about three weeks ago - it didn't get the attention it deserves because of the Judge Kavanaugh hearings. In particular, the two largest pork producers in America, Smithfield Foods, which is Chinese-owned and JBS, which is Brazillian-owned, qualify for the bailout.

Trump blamed the previous American leadership as other countries exploited the US.

Trump says USA companies anxious about the tariffs should move their production home, while a number - from power converter maker Vicor Corp.to climate-control systems company Lennox International Inc. - are looking at shifting their supply chains elsewhere.

That year he said China engaged in the "rape" of the U.S. economy, and since then he has aggressively targeted Beijing as part of his broader America First agenda.

The Wall Street Journal said Trump described the tariffs he placed on China as "small" despite the fact he imposed major tariffs on the counties imports, such as steel and aluminum and another $250 billion worth of imports.

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The two sides have been locked in a stalemate in negotiations, following billions of dollars of tariffs they have imposed on each other since July. The U.S. -China trade spat only continues to escalate, and China's aggressive approach to technology acquisition and intellectual property is only exacerbating tensions. It said the job losses have been concentrated in the manufacturing sector, including industries in which the United States has traditionally held a competitive advantage, because of the trade deficit. Prices for soybeans have significantly dropped to a 10-year low since the tariffs were imposed and now farmers of different markets are getting anxious about how they would fare in the long run.

The National Association of Manufacturers, which also has pushed the Trump administration to include both Canada and Mexico in a renegotiated Nafta and to negotiate a bilateral trade deal with China, reported that its lobbying spending for the third quarter more than doubled from the same period previous year to $2.85 million.

"Look, we've had so much trouble with China regarding their response, which they never make", Kudlow told reporters outside the White House Tuesday morning. Trump's bailout for the farmers affected by the war, however, is also likely to benefit Chinese companies as well. That includes placing tariffs on more than $200 billion worth of Chinese goods in the past year, which makes Chinese products more expensive - and therefore less appealing - to American consumers and businesses.

"Where do we have tariffs?" That's a 13 percent increase compared to previous year.

This impact of Trump's trade policies is striking, considering how often he repeated that his goal is to boost USA manufacturing. His trade war might help the small United States steel industry, but it's hurting almost every other sector of the USA economy. And now taxpayers are stuck with the bill of Trump's $12 billion bailout.

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