Instead of making a deal with the Trump administration, China has chosen to retaliate against Trump’s $200 billion in tariffs with tariffs of their own:
FOX BUSINESS – China will hike tariffs on roughly $60 billion in U.S. imports, a retaliation against the Trump administration’s decision to increase duties on shipments of Chinese goods to America as the two nations continue discussions on a trade deal.
The new tariffs, which are poised to affect over 5,000 U.S. products, will range from 5 percent to 25 percent and take effect on June 1.
It was reported last week that Trump is threatening to impose even more tariffs on all Chinese goods to the tune of 325 billion.
This morning Trump took to Twitter to explain how the American consumer can avoid being bitten by this trade war: Buy American.
Their is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree. Also, the Tariffs can be…..
— Donald J. Trump (@realDonaldTrump) May 13, 2019
….completely avoided if you by from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly!…
— Donald J. Trump (@realDonaldTrump) May 13, 2019
..There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!
— Donald J. Trump (@realDonaldTrump) May 13, 2019
He also sends a message to President Xi:
I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!
— Donald J. Trump (@realDonaldTrump) May 13, 2019
Via TRS
