ENTER THE RAINBOW

(See previous post). Here’s a rainbow: “The Trump administration on Tuesday published a list of $200 billion worth of Chinese goods that it proposes to hit with an additional 10 percent tariff, escalating a mounting trade war between the two countries.

“Rather than address our legitimate concerns, China has begun to retaliate against U.S. products,” U.S. Trade Representative Robert Lighthizer said in a statement. “There is no justification for such action.”

“The move also comes after the U.S. last week imposed a 25 percent tariff on $34 billion worth of Chinese goods, prompting China to retaliate in lockstep. China immediately began adding tariffs on 545 American imports — many of them agricultural products such as soybeans, cotton, rice, sorghum, beef, pork, dairy, nuts and produce. Both countries have also pledged to add tariffs on another $16 billion worth of goods.”

Now, here’s the kicker: China has over 1.4 billion people who are eating food we sell them that they wouldn’t be buying if they could produce it cheaper, themselves. By them increasing the wholesale cost of this food by 25%, the cost to their people will increase by 50%, which drives up their inflation, drives down the value of their money, and reduces their imports of our food. This will result in these foods being more available on our own markets at lower prices, and will encourage our Ag. industry to find other customers besides China.

“The latest action carries through on a threat that President Donald Trump made in June, when he ordered trade officials to draw up a list of $200 billion worth of Chinese goods that would be hit with a 10 percent tariff after Beijing vowed the retaliatory moves.”

Why is this a rainbow? Because Pres. Trump is exactly right. We don’t have to submit to China’s childish bullying, and if trade stops between us, that will just invigorate our own manufacturing and create millions of new jobs right here in the USA.

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