Trump to Sharply Increase Tariffs on Chinese Goods?
Reportedly the Trump regime is set to announce another $200 billion in duties on Chinese products, on top of $34 billion imposed, another $16 billion to come, $250 billion in all, $200 billion more possibly ahead – what a major trade war is all about if his regime goes this far, Beijing certain to retaliate in kind.
On Tuesday, Beijing’s People’s Daily said the “government anticipated (further US tariffs on Chinese goods),” wanting a trade war avoided. “(N)ow that it (began), China will fight it to the bitter end,” adding:
“On Monday evening, a spokesperson for China’s Ministry of Commerce announced new policies that aim to relieve the impact of China-US trade frictions.”
“The policies include continuously evaluating the impact of the dispute on different kinds of companies; using the income raised by China’s countermeasure tariffs to relieve the impact on affected companies and their employees; encourage companies to restructure their imports; and, step up the implementation of the State Council guidelines on the effective use of foreign investment.”
“Taken together, these measures demonstrate China’s strong capabilities in risk control and underlines its determination when it comes to fighting the trade war.”
Days earlier, China’s Global Times (GT) said “(t)he US represents unilateralism, protectionism and economic nationalism, vis-a-vis China’s push for multilateralism and free trade. China is standing in the right historic direction, with the US in the opposite direction.”
“US trade hegemony is doomed to fail,” GT stressed. “Now that the US has initiated a (trade) ‘war’ against China, China will have to face it and repulse it in every ‘battle,’ “ calling Washington “the maniac US.”
Trump said he’s willing to impose US duties on virtually all Chinese imports, Beijing’s counter-measures certain to follow his actions.
Senior editor for China’s national television broadcaster CCTV Tom McGregor believes US-initiated trade war on China will continue while Trump remains in office, adding:
“Beijing is gambling that (he) either gets impeached if the Democrats seize control of Congress and the Senate in the 2018 mid-term elections or Trump loses his re-election bid in 2020.”
The latter is more possible (maybe likely) than the former. No US president was ever removed from office by impeachment.
It requires proving treason, bribery, or other high crimes and misdemeanors. Only two former presidents were impeached (Andrew Johnson and Bill Clinton), neither convicted and removed from office.
Before the US November 2020 presidential election, considerable world economic damage is possible if Trump escalates trade wars with China and other countries much more than already – all the while refusing to bend.
My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”