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Forget TACO. Trump Is Winning His Trade War.
Tags: Current Focus, Renewal America, Leadership Skills, Managing Business, United States, Canada, European Union, China, Japan, South Korea, India, Mexico, Britain, Banks / Insurance, Automobiles, Capital Markets, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, Health, Retirement, 2. Cost of Living Action, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 8. U.S. Investment by Government+ Private, 10. Health- Body/Mind Wellbeing for All ,
Greg Ip of WSJ points out that DJT's tariffs are not fully understood. DJT did not use tariffs in the way he is doing now in his first term. Today Congress understands that it is a negotiating tactic when the US is at a disadvantage with other nations using non tariff and hidden barriers. Mostly all countries except China will accept the tariffs and it generates $240 billion a year to finance US resurgence.
In the past US spent years of negotiating to get agreements with recalcitrant countries like Japan or China or the EU. The US just doesn't have that kind of time when it has lost its manufacturing, its shipbuilding, its shipping and ports.
The average tariff under Biden was 3%. It now is about 13.4%. DJT strategy is to simply hit all imports with a 10-15% tariff across the board as price for access to the US market and for its defense and military protection- this means EU, Japan, South Korea,Taiwan, India cannot retaliate.
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