President Donald Trump told his aides yesterday that it is time to escalate the trade war that is being waged by the US against China. He wants another $200 billion in tariffs levied on certain Chinese products until they reverse their unfair trade policies.
Trump met with Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer on Thursday to demand these tariffs, but his aides are hesitant to implement them right away due to concerns raised by the public.
Despite the administration’s hesitation to act right away in implementing these new tariffs, Trump remains adament that he has the upper hand in this struggle and refuses to bend to the will of the Chinese communists.
The Wall Street Journal has it wrong, we are under no pressure to make a deal with China, they are under pressure to make a deal with us. Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?
— Donald J. Trump (@realDonaldTrump) September 13, 2018
Trump has also threatened to levy tariffs on an additional $267 billion worth of Chinese imports. This would penalize pretty much every Chinese import that comes into America. Trump claims that these additional tariffs are “ready to go on short notice.”
Before Trump is willing to make a deal, he wants China to help reduce America’s trade deficit with the country as well as strengthen intellectual property protections for US companies. These moves would go a long way to making the relationship between China and the US less one-sided. It would become symbiotic rather than parasitic, and both nations can improve their prosperity together.
The Chinese communists once thought they had America by the short hairs, but that may not be the case with the great deal-maker occupying the Oval Office.