Trade war threatens to roil 2020 race as Republicans complain about the tariffs Trump loves

HayJenn

Moderator
Jul 2014
70,175
60,219
CA
#1
Trump’s aggressive trade policies are running headlong into his campaign for reelection. As Trump prepares to run on the economy, his threat to increase tariffs on imports from China has sent the stock market diving and undercut a stretch of positive economic news. U.S. farmers and exporters, already bearing the brunt of China’s retaliatory tariffs, now face the prospect of an escalated trade war in which states that Trump needs to win reelection will be in the crosshairs.

The trade war has also exposed a rift inside the White House and among the president’s allies — with some officials pushing for a quick resolution to calm the markets ahead of 2020, and others warning the president that a weak deal with China could leave him politically vulnerable. My warning has been: We don’t want the 2020 election year to become greatly intensified friction with China over trade issues. We want a deal that works,” said Michael Pillsbury, a China expert at the Hudson Institute who has advised the Trump administration on trade. “One way to unite all 21 Democratic primary candidates is if the president gets a quick but flawed deal that inevitably leads to friction when China is caught cheating next year.”

However, Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow are among a group of Trump aides who have encouraged the president to reach a deal with China quickly and avoid political blowback from a full-scale trade war in 2020, according to people familiar with the internal debate. White House officials said Trump is prepared to take a hard line with China going into 2020 in part because he intends to keep his 2016 campaign promise to fix what he views as bad trade deals. Trump believes strongly in the power of tariffs to force China and other countries to negotiate and won’t sign a deal for political expediency, said two officials, who spoke on the condition of anonymity to discuss internal strategy.


Republican lawmakers have increasingly voiced concerns to the White House about the president’s trade policy and the impact of tariffs on their states.Although many praise Trump for his tough-on-China stance, they also say that patience is wearing thin and that the president risks losing the backing of farmers in key presidential swing states.“If he gets a deal, awesome. If he doesn’t, it’s going to hurt,” said Sen. Joni Ernst (R-Iowa), who is up for reelection next year in a state that Trump won in 2016. Farmers are “losing their patience, yeah, but they want to see a deal.”


https://www.washingtonpost.com/poli...a575670e91c_story.html?utm_term=.8932c74367f4

Of course he thinks he's earning tariff money from the Chinese. Too bad we Americans are the ones who are paying.
 
Jul 2011
35,446
3,076
Tennessee
#2
China has unfair trading practices.

That's a fact.

The US has left this slide way too long in the name of "but it means more trade for exporters therefore more US jobs."

Sitting on our asses and doing nothing about it needs to stop.
 
Jan 2016
57,388
54,173
Colorado
#3
Mnuchin and Kudlow may be pushing Trump to make a deal with China quickly, but their influence may be on the wane, and the influence of Stephen Miller and Mick Mulvaney may be on the rise, and they may be encouraging Trump to take a more hawkish line on the Chinese.

And the thing is, the trade talks seem to have gotten hung up on how China handles the crucial issue of technology transfers. And this in turn is intertwined with China's major strategic goals of dominating science and technology by the year 2030.

China is simply NOT going to abandon those goals, no matter WHAT we demand or threaten them with.

Frankly, it is a ridiculous demand by the United States, to expect that China would give up these goals. It would be as if Britain had come to the United States in the year 1900, when Britain was the declining power and America was the rising power, and demanded that we stop being so inventive!

We would have LAUGHED at the British, if they had made such a ludicrous demand! We would have laughed, and laughed, and laughed!!
 
Likes: Friday13
Sep 2012
14,587
18,906
SoCal
#4
Trump’s aggressive trade policies are running headlong into his campaign for reelection. As Trump prepares to run on the economy, his threat to increase tariffs on imports from China has sent the stock market diving and undercut a stretch of positive economic news. U.S. farmers and exporters, already bearing the brunt of China’s retaliatory tariffs, now face the prospect of an escalated trade war in which states that Trump needs to win reelection will be in the crosshairs.

The trade war has also exposed a rift inside the White House and among the president’s allies — with some officials pushing for a quick resolution to calm the markets ahead of 2020, and others warning the president that a weak deal with China could leave him politically vulnerable. My warning has been: We don’t want the 2020 election year to become greatly intensified friction with China over trade issues. We want a deal that works,” said Michael Pillsbury, a China expert at the Hudson Institute who has advised the Trump administration on trade. “One way to unite all 21 Democratic primary candidates is if the president gets a quick but flawed deal that inevitably leads to friction when China is caught cheating next year.”

However, Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow are among a group of Trump aides who have encouraged the president to reach a deal with China quickly and avoid political blowback from a full-scale trade war in 2020, according to people familiar with the internal debate. White House officials said Trump is prepared to take a hard line with China going into 2020 in part because he intends to keep his 2016 campaign promise to fix what he views as bad trade deals. Trump believes strongly in the power of tariffs to force China and other countries to negotiate and won’t sign a deal for political expediency, said two officials, who spoke on the condition of anonymity to discuss internal strategy.


Republican lawmakers have increasingly voiced concerns to the White House about the president’s trade policy and the impact of tariffs on their states.Although many praise Trump for his tough-on-China stance, they also say that patience is wearing thin and that the president risks losing the backing of farmers in key presidential swing states.“If he gets a deal, awesome. If he doesn’t, it’s going to hurt,” said Sen. Joni Ernst (R-Iowa), who is up for reelection next year in a state that Trump won in 2016. Farmers are “losing their patience, yeah, but they want to see a deal.”


https://www.washingtonpost.com/poli...a575670e91c_story.html?utm_term=.8932c74367f4

Of course he thinks he's earning tariff money from the Chinese. Too bad we Americans are the ones who are paying.
tRump can't pull his head out of his ass to see reality ...

Yes, Trump tariffs are costing billions, and no, China isn't paying
President Donald Trump is justifying raising tariffs on Chinese imports on grounds they are helping the U.S. economy and are mostly paid by China. The opposite is true, economists say.

According to data from U.S. Customs and Border Protection, almost $15.3 billion in duties imposed by the Trump administration last year were assessed on imported goods from China as of April 10. Actual collections could lag and be lower with refunds and other factors.

While Trump has suggested on Twitter and in public comments that tariffs are somehow being charged to or paid by China, economists say that’s misleading. U.S. importers are responsible for the duties, and ultimately U.S. businesses and consumers pay through higher costs, they say.

“Our results imply that the tariff revenue the U.S. is now collecting is insufficient to compensate the losses being born by the consumers of imports,” a study published in March by economists from the Federal Reserve Bank of New York, Princeton University and Columbia University concluded.

...MORE...
 
Likes: BigLeRoy
Jul 2014
38,733
10,300
midwest
#5
A bit early to "roil the 2020 race".

Lots of things will happen, both good and bad, in the next year and a half.

Never too early to hate on Trump, though...
 

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