President Donald Trump instructed his Agriculture secretary to help protect U.S. farmers and agricultural interests from Chinese retaliation in a seemingly unending tariff warfare.
Trump said this was to respond to China’s unfair tariffs against U.S. exports to China.
These tariffs would come on top of separate duties on $50 billion announced earlier this week.
“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers,” Trump said.
“I am committed to enabling American companies and workers to compete on a level playing field around the world, and I will never allow unfair trade practices to undermine American interests.”
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
But experts believe the U.S. tariff war with China will hurt American exporters more and will open the route for other countries to turn towards China for potential exportation.
U.S. markets reacted negatively on the news, with Dow futures showing an implied open down more than 400 points.
But the tariff war is only a small portion of Trump’s real intentions towards China said a French professor.
The Fake News Washington Post, Amazon’s “chief lobbyist,” has another (of many) phony headlines, “Trump Defiant As China Adds Trade Penalties.” WRONG! Should read, “Trump Defiant as U.S. Adds Trade Penalties, Will End Barriers And Massive I.P. Theft.” Typically bad reporting!
— Donald J. Trump (@realDonaldTrump) April 5, 2018