What will Trump tariffs mean for the North Country?
- Author: Leroy Wright Jun 05, 2018,
Jun 05, 2018, 11:43
"Farmers have not been doing well for 15 years".
"The US can't have its cake and eat it too", an editorial published by the state-run "Global Times" said. More than 75 percent of voters said the US should take steps to correct its trade deficit with China. Massive trade deficits no longer!'
Former Reagan economist Art Laffer on President Trump's trade negotiation strategy.
Trump won the presidency with the help of farm-heavy states like Pennsylvania, Wisconsin, Ohio, and Indiana. The $800 billion figure represents the total value of goods imported by the U.S.in 2017.
The US media reported that the Trump administration sent the delegation to Beijing to negotiate long-term contracts with the Chinese to boost sales of US agricultural and energy products. In particular, they advocate for updating the North American Free Trade Agreement (NAFTA) instead of dropping it, as Trump has threatened to do, and finalizing a new trade deal with the United Kingdom after Brexit, when the country stops being a part of the European Union at the end of March 2019.
China, while open to talks to resolve the dispute, is warning it will withdraw commitments it made on trade if the president carries out a separate threat to impose tariffs on the Asian country.
The campaign pits the Koch brothers and their network - longtime advocates of free-market economics, and GOP kingmakers for much of the past decade - against the Republican White House on an issue that has roiled the party and inflamed tensions between the traditional, establishment wing of the GOP and the more populist wing, which has ascended in the Trump era.
The group's highly unusual public rebuke of one of its own members called out the US for hefty steel and aluminum tariffs the Trump administration imposed in recent days on its G7 friends.
The US steel and aluminium tariffs were imposed early on Friday after Canada, Mexico and the European Union refused to accept quotas in negotiations with US Commerce Secretary Wilbur Ross.
According to a Reuters report, Japanese Finance Minister Taro Aso called the us tariff actions "deeply deplorable".
He has echoed the administration's position that America has gotten the short end of the stick from China.
Trump, meanwhile, broadened his trade tirades on Twitter into agriculture, writing: "Canada has all sorts of trade barriers on our Agricultural products".
The comments came as Trudeau took a more aggressive tone on "Meet the Press" in an interview that aired on Sunday, even as he compared Canada to the stoic, "even-tempered" moose.