China Tariffs
mark94
Arizona
In November 2017, President Trump made a lengthy trip to Asia, meeting with the leaders of Japan, India, South Korea, Vietnam, and the Philippines. He announced the topic of conversation was trade.
Fast forward to today, and it’s clear this trip was laying the groundwork for the China trade war. Manufacturers had already been moving jobs to these countries, some of which were already lower cost than China. Now, with a 25% tariff, the movement of manufacturing from China to Vietnam, India, and the Philippines will pick up steam.
Going forward, American consumers will still able to buy cheap foreign-made goods. Only the country of origin will change. Now, these goods will be built in places that don’t steal our intellectual property, use cyber attacks, or oppose us militarily. You may continue shopping at Walmart.
Fast forward to today, and it’s clear this trip was laying the groundwork for the China trade war. Manufacturers had already been moving jobs to these countries, some of which were already lower cost than China. Now, with a 25% tariff, the movement of manufacturing from China to Vietnam, India, and the Philippines will pick up steam.
Going forward, American consumers will still able to buy cheap foreign-made goods. Only the country of origin will change. Now, these goods will be built in places that don’t steal our intellectual property, use cyber attacks, or oppose us militarily. You may continue shopping at Walmart.
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33 comments
I thought you were one of the deplorables.
;-)
It can take up to 30 years before the developing country agrees to play by the rules. He guessed that it will take 15 years before China agrees, though the tariff rates may go down gradually as negotiations continue.
Now is the time to hold China accountable - if not now when - one would assume their economy will only grow and get stronger as well as their military (just as a matter of having a population of 4x the US) - the bigger and stronger they get the more they will feel free to do as they please.
I'm pretty mixed on Trump's strategy. I wish we had someone smarter and more level headed in charge. Trump wants to look strong more than make smart choices.
https://en.wikipedia.org/wiki/List_of_co…
Under our past president we'd probably be appologizing to the chinese for making it difficult to steal our intellectual property.
I think the likeliest outcome will be the tariffs will stay in place for years while businesses move to SE Asia and India. The Chinese debt bubble will eventually pop, causing political turmoil and rebellion.
This, I think, is one of those nuts. China has been abusing the world with its trade practices for years. They are also attempting to annex the entire South China Sea. Their theft of our, and the rest of the world's, intellectual property has been endemic for years.
This will no doubt cause us some pain, particularly our farmers. However, even with increased tariffs, our soybean production will still likely have a cost and volume advantage in the Chinese market. A key here is that we will have alternate sources of supply for manufactured goods; Chinese options will be far more limited.
While we're at it, let's also start gradually phasing in requirements that 50 % of imports to the US be carried on board US flag ships. That's my 2¢.
In 2015, federal investigators informed several research institutions that they employed professors who were violating supporting agency policies. In 2017, the cancer center gave the FBI "computer hard drives containing emails for several of its staff members." Last month's report says that The National Institutes of Health provided evidence "describing conflicts of interest or unreported foreign income by five faculty members." As a result of the FBI and internal investigation, the center fired three scientists identified as trying to help China steal "U.S. scientific research."
And this: "In the past 18 months ... 10 MD Anderson senior researchers or administrators of Chinese descent have retired, resigned or been placed on administrative leave."