07/11/2018

Trump's Zero-Tariff Solution

Townhall, Townhall

President Donald Trump's aluminum and steel tariff policies have now triggered retaliatory tariffs from other nations, including Canada, the EU and China.

Last week President Trump imposed new tariffs on more than $30 billion of Chinese electronic equipment and other consumer goods. Our trading partners are now threatening to hit our domestic industries, including wheat, soybeans, pork, bourbon, blue jeans -- and even Maine lobsters. The financial markets are jittery, to say the least.

Even worse, China's tit-for-tat tariffs are now intentionally designed to antagonize Trump voters in Midwestern and Southern states. They are using tariffs as a political weapon. It's funny that the left doesn't seem to protest this blatant and dangerous foreign meddling in U.S. elections. They even seem to applaud this election interference by a hostile foreign power because Trump is the target.

In any case, the goal of these foreign-imposed tariffs aimed at the U.S. is to inflict maximum economic pain on American producers in order to force Trump to retreat.

Retreating isn't an option for Trump -- never has been and never will be. So this is a game Beijing can't win. For Trump to score a decisive victory, he will need to reclaim the moral high ground in this fight.

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With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.

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