China has bought only 57% of the imports it had committed to in its Phase 1 trade deal with President Trump right before it unleashed its COVID pandemic on the world in January, 2020. See: Peterson Institute Article.
Afterthought: Pilgrim, were Trump still in office, would he be increasing tariffs on China as a result of this miss?
STAND UP FOR COMPLIANCE!
Did you read that article? Raising tariffs even higher will send more manufacturers overseas.
ReplyDeleteLet me see if I can follow your pretzel logic? Increasing tariffs on imported products forces U.S. companies to offshore more manufacturing so that they can pay even more tariffs! Wouldn’t they be motivated to bring back onshore their manufacturing? No shipping costs … no tariffs … no supply chain problems … not at the mercy of a hostile government … more American jobs … better quality control … appeal to “Buy American” consumers … nah, increasing tariffs makes no sense whatsoever!
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