President Donald Trump went on a tweeting spree again, telling the world that he is “a tariff man.” It’s great that he is celebrating being a 17th century mercantilist, but it isn’t something to be proud of.
In the aftermath of the G20 summit meeting between President Trump and Chinese President Xi Jinping, it was agreed upon that the trade hostilities between the world’s two largest economies would be suspended for 90 days. In the meantime, the 15% rate hike to tariffs on $200 billion worth of Chinese goods will be put on ice, and China will reduce auto tariffs and buy more U.S. agriculture.
While Trump is confident that the deal will last, he confirmed that if it doesn’t then he will resort to the practice of implementing tariffs.
Here is what he tweeted:
The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina.
China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will. But if not remember, I am a Tariff man
When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
But if a fair deal is able to be made with China, one that does all of the many things we know must be finally done, I will happily sign. Let the negotiations begin. MAKE AMERICA GREAT AGAIN!
So far, the trade war has been a disaster for U.S. farmers, international commerce, and American consumers. Unfortunately, protectionism is something that modern governments embrace.
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