Trump "Overrules" Cabinet, Prepares To Unleash Global Trade War

[BADecker]

Trump "Overrules" Cabinet, Prepares To Unleash Global Trade War

While one of Trump's recurring campaign promises was that he would "punish" China and other key US trade counterparties if elected, for taking advantage of free-trade by imposing steep tariffs and duties on foreign imports to "level the playing field", the President's stance changed drastically after the election, U-turning following his amicable meeting with China's president Xi Jinping in March, but mostly as a result of pressure by his ex-Goldman advisors to keep existing trade arrangements in place and not "rock the boat."

Now, all that may be about to fall apart.

According to Axios, behind the constant media scandals, "one of the most consequential and contentious internal debates of his presidency unfolded during a tense meeting Monday in the Roosevelt Room of the White House" where with "more than 20 top officials present, including Trump and Vice President Pence, the president and a small band of America First advisers made it clear they're hell-bent on imposing tariffs — potentially in the 20% range — on steel, and likely other imports."

In other words, Trump - true to his campaign promises - is set to launch a global trade wars after all, one where then main country impacted would be China, however the collateral damage would extend to Canada, Mexico, Japan, Germany and the UK.

And what may be even more striking is that Trump overruled his cabinet, as "the sentiment in the room was 22 against and 3 in favor — but since one of the three is named Donald Trump, it was case closed." Axios adds that while "no decision has been made, the President is leaning towards imposing tariffs, despite opposition from nearly all his Cabinet."

Needless to say, if Trump follows through, the outcome would have a profound effect on U.S. economic and foreign policy; Trump will formalize his decision in the coming days.

What is also notable, is that this is the first time  - so far off the record - in which Trump has openly defied his Wall Street establishment advisors, while siding with the Bannon "populist" front:

In a plan pushed by Commerce Secretary Wilbur Ross, and backed by chief strategist Steve Bannon (not present at the meeting), trade policy director Peter Navarro and senior policy adviser Stephen Miller, the United States would impose tariffs on China and other big exporters of steel. Neither Mike Pence nor Jared Kushner weighed in either way.

Read more at http://www.zerohedge.com/news/2017-06-30/trump-overrules-cabinet-prepares-unleash-global-trade-war.

[Sithara007]

He is 100% right in doing this. The Chinese have always used unfair trade practices to their own advantage. They cry discrimination every time when tariffs are imposed on Chinese goods. But they charge very heavy tariffs inside China for foreign goods, to discourage the competition.

[BADecker]

CNN Producer: Americans Are "Stupid as Shit"

CNN producer Jimmy Carr summed up the attitude of the mainstream media towards ordinary people when he was caught on tape saying American voters are "stupid as shit".

Carr, the Associate Producer for CNN's New Day, is the unwitting star of James O'Keefe's latest sting video for Project Veritas.

Read more and watch the videos at https://www.prisonplanet.com/cnn-producer-americans-are-stupid-as-shit.html.

[HabBear]

Technically true given that Americans voted for Trumo and got him into office.

The petty bickering between Trump and CNN is getting old. Neither side is worth wasting time on. There's so much more conflict to report on and productivity to gain for the American people than the insults each party throws over the line.

That hot air just fuels the fire!

[Lieldoryn]

He is 100% right in doing this. The Chinese have always used unfair trade practices to their own advantage. They cry discrimination every time when tariffs are imposed on Chinese goods. But they charge very heavy tariffs inside China for foreign goods, to discourage the competition.

This was necessary to think earlier. Now all accustomed to cheap goods from China and if the price will grow it could trigger dissatisfaction. I'm not talking about inflation. Any war is a loss even if the economic war. Who can predict the consequences of such actions.

[BADecker]

He is 100% right in doing this. The Chinese have always used unfair trade practices to their own advantage. They cry discrimination every time when tariffs are imposed on Chinese goods. But they charge very heavy tariffs inside China for foreign goods, to discourage the competition.

This was necessary to think earlier. Now all accustomed to cheap goods from China and if the price will grow it could trigger dissatisfaction. I'm not talking about inflation. Any war is a loss even if the economic war. Who can predict the consequences of such actions.

If prices of imports grow,
and Trump reduces business regulations,
we will be able to manufacture our own products cheaper.

Business will come back to America,
income taxes will reduce
(since Government won't need as much with import taxes),
Americans will become self-sufficient again,
exports will increase,
we will rule the world through our economy.

[merchantofzeny]

He is 100% right in doing this. The Chinese have always used unfair trade practices to their own advantage. They cry discrimination every time when tariffs are imposed on Chinese goods. But they charge very heavy tariffs inside China for foreign goods, to discourage the competition.

This was necessary to think earlier. Now all accustomed to cheap goods from China and if the price will grow it could trigger dissatisfaction. I'm not talking about inflation. Any war is a loss even if the economic war. Who can predict the consequences of such actions.

@Sithara007 not only that, they've been know for allowing manufacturers to come in and then suddenly kicking them out, basically taking control of facilities and gaining technology. They are living off the innovations of Westerners.

@Lieldoryn that would depend on whether Americans are willing enough to feel the pain, even if it would be just for temporarily.

[gentlemand]

CNN producer Jimmy Carr summed up the attitude of the mainstream media towards ordinary people when he was caught on tape saying American voters are "stupid as shit".

Carr, the Associate Producer for CNN's New Day, is the unwitting star of James O'Keefe's latest sting video for Project Veritas.

I'd agree with him. Most voters are stupid. It's the politician's job to cut through that stupidity somehow.

The number one googling after the Brexit vote in the UK was 'What is the EU?'

[freedomno1]

The final battle of an old power, kind of feels like a full circle is occurring in a sense.
Well I look forward to how this global fracas will go until looks at clock 2020.

[Sithara007]

@Sithara007 not only that, they've been know for allowing manufacturers to come in and then suddenly kicking them out, basically taking control of facilities and gaining technology. They are living off the innovations of Westerners.

Yes... Plagiarism in the electronic goods was perfected by the Chinese. There is hardly any innovation in China. But I can't complain much, because most of the electronic items which I use are imported from China.

[Palmerson]

The Chinese really brought art plagiarism to perfection, but Western companies in pursuit of profit had built a plant in China and provoked this situation. Now it will be very difficult to deal with the consequences.

[merchantofzeny]

@Sithara007 not only that, they've been know for allowing manufacturers to come in and then suddenly kicking them out, basically taking control of facilities and gaining technology. They are living off the innovations of Westerners.

Yes... Plagiarism in the electronic goods was perfected by the Chinese. There is hardly any innovation in China. But I can't complain much, because most of the electronic items which I use are imported from China.

Oh yes, the phones laced with malware. It's like it was intentional. They know their phones would be wide used and so they made sure there are vulnerabilities they can exploit when needed.

It seems stealing is the order of the day. Aside from them taking advantage of companies that dared enter China, they are also involved in a lot of industrial espionage in the US, even stealing proprietary seeds.

[killyou73]

Maybe China should start importing 10% of the rice they use early and cause prices to skyrocket? It is unfair to say that China should have stricter trade tarrifs when without China the USA would not have experienced growth without them, and considering they hold a lot of our wealth maybe they should cash in all of their bonds and cause panic? Going tit for tat with the powerhouse of China will only lead to economic depression

[Sithara007]

It seems stealing is the order of the day. Aside from them taking advantage of companies that dared enter China, they are also involved in a lot of industrial espionage in the US, even stealing proprietary seeds.

Everyone does plagiarism. You can find companies even in Germany and Japan doing it. But here the difference is that in China, the plagiarism is state-sponsored. Even if some Chinese company gets sued in the western nations, you can expect the Chinese government to support them.

[squatz1]

While something like this may happen at some point, I highly doubt it's going to be Trump and trump only being the one that's pulling the strings on something like this. He's probably going to have tons of RNC and other advisors telling him that this is a good idea, popular and going to be trusted by an insane amount of people. There's going to be no reason to do something of this caliber, go against a ton of people in Washington without any sort of political gain.

He'll unleash a war, but only for the betterment of the RNC as a whole when it comes to winning and himself when it comes to winning. The guys smart, he's not going to be dumb about all of this.

[audaciousbeing]

The earlier President Trump identifies that United States cannot stand in vacuum the better for everyone because those who signed the policy of free trade were not stupid at the time and were sure its for the overall benefit of the American populace to make sure they get their goods at reasonable prices in which inflation will be kept at bay and also a lot of compromises would have been made by both parties involved. This among other reasons why the other cabinet members are against such decision but since he was the one Americans voted for, I am sure they will ask him in the next four years whether they have fared better or worse.

[Lancusters]

Maybe China should start importing 10% of the rice they use early and cause prices to skyrocket? It is unfair to say that China should have stricter trade tarrifs when without China the USA would not have experienced growth without them, and considering they hold a lot of our wealth maybe they should cash in all of their bonds and cause panic? Going tit for tat with the powerhouse of China will only lead to economic depression

Believe me that without China, "the locomotive" will not stop. China is the only conductor that can be changed and the locomotive will go on. The significance of China are overblown. Indeed may be a shortage of goods in all markets, but if there is demand I can always set up production in other places.

[merchantofzeny]

It seems stealing is the order of the day. Aside from them taking advantage of companies that dared enter China, they are also involved in a lot of industrial espionage in the US, even stealing proprietary seeds.

Everyone does plagiarism. You can find companies even in Germany and Japan doing it. But here the difference is that in China, the plagiarism is state-sponsored. Even if some Chinese company gets sued in the western nations, you can expect the Chinese government to support them.

It is expected, after all, it is a single-party, authoritarian country. In democracies, industrial espionage tend to happen between rival companies and are usually not tolerated by the state. With China, it would even be harder to sue anyone.

Reminded me of the planned Nicaragua canal. It was later speculated that the company owner is just a front for the Chinese government, considering the huge expense needed for it. Not to mention this certain Wang Jing came from telecommunications, not construction, and haven't built anything before.