Quantcast
Connect with us

Looming China tariff hikes are a time bomb that could blow-up in Trump’s face in July: report

Published

on

Donald Trump’s decision to enact harsh tariffs on Chinese goods are a time bomb that may blow up in Trump’s face, the Washington Post reports.

Unless there’s a deal—and there are currently no negotiations to make that happen—on July 6 there will be new American tariffs on $34 billion in Chinese goods. At that point, there will be Chinese retaliation in the form of tariffs targeting American farmers and exporters.

ADVERTISEMENT

That gives Trump a reason to negotiate—and some of his advisors want him to do just that.

“He’s set himself up perfectly for that attack,” said a spokesman for the free-market American Enterprise Institute. “There’s a group inside the administration that very, very much wants a deal.”

However, Trump’s base wants him to shrink the trade deficient with China, which has grown under his watch and hit a record-high in 2018.

It Trump wants to back away from driving a hard deal and takes a concession, he may anger his base.

“The Democrats are champing at the bit to win back what they see as their natural constituency: working-class voters,” said a former adviser to Joe Biden. “I would bet you many Democrats are going to move into that space immediately.”

ADVERTISEMENT

To make it more interesting, China’s own tariffs are intended to deliver a blow that hits Trump’s supporters the hardest.

“They have mapped this out to a very fine level of detail, down to congressional districts,” a China expert from Princeton University said. “It is intended to inflict maximum pain on people they recognize as being Trump’s primary constituents in hopes that it will make him change course.”


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Trump may come to regret his big celebration of a small dip in unemployment

Published

on

Though the unemployment rate remains in the double-digits, the official unemployment numbers are slightly lower than economists expected, prompting self-congratulations by President Donald Trump.

This article first appeared in Salon.

But experts say celebration is premature.

Indeed, the Bureau of Labor Statistics reported that the unemployment rate fell from 14.7 percent in April to 13.3 percent in May as the economy added 2.5 million jobs. The high April number was the worst that the American workforce had seen since monthly record-keeping began in 1948, and almost certainly the worst since the Great Depression. White House economic adviser Kevin Hassett predicted last month that unemployment would rise above 20 percent, a view that was widely shared by economists.

Continue Reading

Breaking Banner

DC mayor trolls Trump by lighting ‘Black Lives Matter Plaza: ‘We turned on the night light for him’

Published

on

Continue Reading
 

2020 Election

It’s Donald Trump vs Joe Biden: Associate Press reports former VP has clinched the DNC nomination

Published

on

The 2020 general election campaign between two top parties has unofficially been set.

"Joe Biden formally clinched the Democratic presidential nomination Friday, setting him up for a bruising challenge to President Donald Trump that will play out against the unprecedented backdrop of a pandemic, economic collapse and civil unrest," the AP reported Friday. "The former vice president has effectively been his party’s leader since his last challenger in the Democratic primary, Bernie Sanders, ended his campaign in April. But Biden pulled together the 1,991 delegates needed to become the nominee after seven states and the District of Columbia held presidential primaries Tuesday."

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image