Select Page

Don't Tread On My Site

Trump To China: No More ‘Raiding’ American Piggy Bank

Load WordPress Sites in as fast as 37ms!

As US markets struggled to shake off Monday’s punishing selloff, President Trump – who said last night that he expects the trade war to be resolved within three or four weeks – tweeted early Tuesday about how tariffs “rebuilt” the American steel industry.

https://platform.twitter.com/widgets.js

Trump’s tweet about the steel tariff comes as more Republicans in Congress press Trump to abandon the tariffs on steel and aluminum that were his first major step in the trade war, with some arguing that US consumers and businesses are paying more than $900,000 a year for every job saved or created by Trump’s steel tariffs. But as Trump sees it, metals tariffs are necessary to preserve the domestic steel industry for national security reasons, as well as for creating well-paying manufacturing jobs.

Some had hoped Trump would remove the tariffs, at least on Canada and Mexico, after USMCA negotiations produced a deal, but that hasn’t happened.

Trump followed his steel tweet up with a series of tweets about Washington’s “fantastic” negotiating position. Companies can “make your product at home in the USA and there is no Tariff. Many companies are leaving China so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 election.”

Trump added that “we are the ‘piggy bank’that everyone wants to raid”…”NO MORE!”

https://platform.twitter.com/widgets.js

https://platform.twitter.com/widgets.js


This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

Read the original article.

Advertise on Libertarian Hub

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.