Trump Says Biden Administration’s Talk of Lifting China Tariffs Is ‘Terrible Mistake’

Contact Your Elected Officials
The Epoch Times Header

Former President Donald Trump said it would be a “terrible mistake” if the Biden administration decided to combat inflation by lifting tariffs on Chinese goods. Moreover, Trump said such a decision would make the United States look “weak.”

“Believe it or not, it is looking more and more like the United States is getting ready to remove the tariffs on China. This would be a terrible mistake,” Trump said in a statement released on his Truth Social account on July 5.

“Doing this would be the greatest gift that China could ever receive,” he continued. “Taking these tariffs off would be a clear signal that the United States is weak, ineffective, and doing business as usual.”

Trump began hitting China with tariffs after a U.S. Trade Representative (USTR) investigation in 2018 found that the communist regime was engaging in illegal practices, including excessive government subsidies and intellectual property theft.

Beijing retaliated by slapping tariffs on U.S. goods, bringing the two nations into a trade war.

The two countries signed a trade deal in January 2020, requiring China to buy an additional $200 billion in U.S. goods and services during 2020 and 2021, compared to 2017 levels.

However, the Chinese Communist Party (CCP) hasn’t fulfilled its promises under the deal. According to the Peterson Institute for International Economics (PIIE), China bought only 57 percent of the U.S. exports it had promised to buy. In other words, the Chinese regime “bought none of the additional $200 billion of exports Trump’s deal had promised,” PIIE’s senior fellow Chad Bown stated.

Inflation

It has been more than a month since the Biden administration revealed that it was considering removing the Trump-era China tariffs. In June, U.S. Treasury Secretary Janet Yellen told a House hearing that “some reductions may be warranted and could help to bring down the prices of things that people buy that are burdensome.”

U.S. inflation jumped to 8.6 percent in May, the highest level in 40 years.

By Frank Fang

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

A Few Fun Alternatives to the”Gory Stuff” at Halloween

Halloween has gone off the rails with gore through the decades.  But there are ways to enjoy the "scary stuff" without giving into darker, pagan alliances.  

Germany Stands To Lose & Poland To Gain From The EU’s Latest Energy Move

The US is geostrategically re-engineering Europe at Germany’s expense in order to facilitate Russia’s post-Ukraine containment.

EBT Serfs Threaten Violent Mass-Shoplifting Spree if Food Stamps Cut

The EBT serfs of the underclass may be in for a rough ride come November, when mommy government is slated to wean them off the teat of state.

The Real Reason Why the Left is Unhinged

Nine out of thirteen of the original states required you to be a Bible believing Christian to serve in government at the time of the founding.

The Sacrificial Lambs of the Riyadh Standup Scene

Which is the greater injustice: jailing political dissidents, or millions dead from pharma crimes with no accountability for those responsible?

US Sanctions Major Russian Oil Companies

The U.S. imposed new sanctions on Russia, targeting oil giants Rosneft and Lukoil to curb the Kremlin’s ability to finance its war efforts.

ICE Tracker Planned by Democrats Could Endanger Agents, Bondi Says

AG Pam Bondi warned Democrats’ plan for an online platform tracking ICE in LA could put federal agents at risk of harassment or violence.

Trump Responds to Report He’s Seeking $230 Million From DOJ for Past Investigations

President Trump acknowledged the odd position he’s in given that the lawsuit was launched when he was a private citizen: ‘I’m suing myself.’

Food, Drink Companies Launch New Group in Bid for National Food Standards

PepsiCo and major food makers launched a coalition urging national standards for ingredient safety and labeling to replace inconsistent state regulations.

Trump Calls off Meeting With Putin, White House Says

White House says Secretary Rubio and Russia’s Lavrov had a productive call; no further meetings or Trump-Putin talks are planned soon.

President Signs Rare Earth Agreement With Australia’s PM

President Trump hosted Australian PM Albanese at the White House, where both leaders signed a new agreement on rare earth mineral cooperation.

Trump Says Insurrection Act Is ‘Strongest Power a President Has’

President Trump detailed plans to invoke the Insurrection Act to address rampant crime, calling it the “strongest power a president has.”

Army Corps of Engineers to Pause $11 Billion in Projects During Shutdown: Vought

Russ Vought, director of the White House’s OMB, has added to the growing pile of federal projects paused during the government shutdown.
spot_img

Related Articles

Popular Categories

MAGA Business Central