EDITORIAL: U.S. should win trade war with China

EDITORIAL: U.S. should win trade war with China

Will the trade war between the United States and China end anytime soon — and how? President Trump remains adamant about holding China’s feet to the fire for practices that have taken advantage of the U.S. and pushed its trade deficit into the hundreds of billions of dollars. “This isn’t my trade war,” Trump said last week, blaming predecessors, both Democrat and Republican, for the current state of affairs. “This is a trade war that should have taken place a long time ago,” he said. “Somebody had to do it. So I’m taking on China on trade.” Already the Trump administration has imposed 25% tariffs on about $250 billion in Chinese goods and the president says taxes will be slapped on remaining imports from China by mid-December. In retaliation, China put tariffs on about $110 billion in U.S. imports and recently announced a decision to no longer buy U.S. agricultural products. Despite fears of the negative impact on American businesses and consumers, even Trump’s longtime antagonist, Senate minority leader Chuck Schumer, has backed the president on adding a 10% tariff on $300 billion of Chinese goods. Echoing what Trump has asserted for years even before winning the presidency, Schumer said China has not played fair and as a result “America has lost trillions of dollars and millions of jobs.” He said “being tough on China is the right way to be.” Right or wrong, the trade war does have negative effects, but last week the president put the question […]

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