Interesting article by Byron York on Europe's fears of the US declining to be China's biggest trading partner. It's a good track record of what happened to our jobs and economy.
Also a video of how tariffs work and who's really been screwing us all these years. Note the part about who's making the most noise.
Much of the public’s attention to the Trump tariff situation focuses on 1) each person’s individual loss, or possible loss, in the stock market and 2) whether tariffs will result in inflation going forward. But the tariff controversy has many parts. One interesting aspect is the growing fear in Europe that China will do to Europe what it did to the U.S. in the last 25 years, to disastrous effect. This, according to some media accounts, is somehow President Donald Trump’s fault. But the real fault is China’s.
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The story noted that China cheats all over the place when it comes to trade. The government subsidizes the production of massive amounts of goods, allowing China to sell them at artificially low prices. China steals intellectual property right and left. It has also erected extensive “non-tariff barriers” to trade — for example, shutting the U.S. out of selling many goods in China.
China can flood a country with cheap goods, undercutting the industries in that country. What had been a vital local economy becomes one saturated with Chinese goods. Here is what the New York Times wrote with respect to China and Europe: “[China] produces a vast array of artificially cheap goods — heavily subsidized electric vehicles, consumer electronics, toys, commercial grade steel and more — but much of that trade was destined for the endlessly voracious American marketplace. With many of those goods now facing an extraordinary wall of tariffs thanks to President Trump, fear is rising that more products will be dumped in Europe, weakening local industries in France, Germany, Italy, and the rest of the European Union.”
A few days ago, the Washington Post said much the same thing: “As China’s factories continue to hum, Chinese goods that would have gone to the U.S. will instead head for Europe and other markets, threatening them with the sort of job-killing shock that battered American workers in the first decade of this century.”
Could there be a more compelling reason for the measures that Trump is taking against China? Why shouldn’t the U.S. fight back against China’s “job-killing” strategy that has “battered” American workers? Yes, of course Europe needs to protect itself against China too. Maybe they will realize that it would be better to trade more with the U.S.
On other aspects of the trade situation, National Economic Council head Kevin Hassett told Fox Business’s Larry Kudlow on Monday afternoon that the U.S. has “been contacted by virtually every country on Earth” to negotiate trade arrangements. There have been at least 10 actual offers of new deals. It seems to be happening quickly, Hassett said, but it is important to remember that such conversations did not begin last week — they began Jan. 20, when Trump took office. “I’ve had countless conversations with European Union counterparts and around the world,” Hassett said. “The trade deal discussions have been going on really from the very beginning.”
www.washingtonexaminer.com
Also a video of how tariffs work and who's really been screwing us all these years. Note the part about who's making the most noise.
Much of the public’s attention to the Trump tariff situation focuses on 1) each person’s individual loss, or possible loss, in the stock market and 2) whether tariffs will result in inflation going forward. But the tariff controversy has many parts. One interesting aspect is the growing fear in Europe that China will do to Europe what it did to the U.S. in the last 25 years, to disastrous effect. This, according to some media accounts, is somehow President Donald Trump’s fault. But the real fault is China’s.
______________________
The story noted that China cheats all over the place when it comes to trade. The government subsidizes the production of massive amounts of goods, allowing China to sell them at artificially low prices. China steals intellectual property right and left. It has also erected extensive “non-tariff barriers” to trade — for example, shutting the U.S. out of selling many goods in China.
China can flood a country with cheap goods, undercutting the industries in that country. What had been a vital local economy becomes one saturated with Chinese goods. Here is what the New York Times wrote with respect to China and Europe: “[China] produces a vast array of artificially cheap goods — heavily subsidized electric vehicles, consumer electronics, toys, commercial grade steel and more — but much of that trade was destined for the endlessly voracious American marketplace. With many of those goods now facing an extraordinary wall of tariffs thanks to President Trump, fear is rising that more products will be dumped in Europe, weakening local industries in France, Germany, Italy, and the rest of the European Union.”
A few days ago, the Washington Post said much the same thing: “As China’s factories continue to hum, Chinese goods that would have gone to the U.S. will instead head for Europe and other markets, threatening them with the sort of job-killing shock that battered American workers in the first decade of this century.”
Could there be a more compelling reason for the measures that Trump is taking against China? Why shouldn’t the U.S. fight back against China’s “job-killing” strategy that has “battered” American workers? Yes, of course Europe needs to protect itself against China too. Maybe they will realize that it would be better to trade more with the U.S.
On other aspects of the trade situation, National Economic Council head Kevin Hassett told Fox Business’s Larry Kudlow on Monday afternoon that the U.S. has “been contacted by virtually every country on Earth” to negotiate trade arrangements. There have been at least 10 actual offers of new deals. It seems to be happening quickly, Hassett said, but it is important to remember that such conversations did not begin last week — they began Jan. 20, when Trump took office. “I’ve had countless conversations with European Union counterparts and around the world,” Hassett said. “The trade deal discussions have been going on really from the very beginning.”
Europe fear: China will do to us what it did to the United States - Washington Examiner
Yes, of course Europe needs to protect itself against China too. Maybe they will realize that it would be better to trade more with the U.S.
www.washingtonexaminer.com
