Donald Trump joins criticism of US trade with China

10 Nov 2010

Source:  Supply Chain Digest
The question of what to do about the huge US trade deficit with China and the impact of offshoring on US jobs is not one that has clear lines of political demarcation. A growing number of conservatives, such as economist and former Reagan Administration Treasury official Paul Craig Roberts, have lately been questioning the US' trade relationship with China and calling for taxes/tariffs of some kind on Chinese imports to even the playing field.

The US House of Representatives several weeks ago passed a bill calling for the US government to consider China's refusal to increase the value of the Yuan versus the US dollar an improper trade subsidy. Though largely symbolic, the bill included language that would expand the power of the US Commerce Department by allowing it to slap retaliatory tariffs on Chinese goods and passed by a margin of 348-79, meaning the Yes vote had strong bipartisan support.

Now real estate magnate, Donald Trump has called for a 25% tax on Chinese imports, and said it would be little financial hardship for US families to buy American-made toys and other products, that oil prices are way above what they should be given the true state of supply and demand, and that he was so irate at the current economic situation a run for President is not out of the question.

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