China Just Went Nuclear in the Trade War, and
There Is No Turning Back Now (Source globalresearch.ca)
When
will Americans start to wake up and realize what is happening? At the end
of last week, President Trump announced that the U.S. would be
imposing a 10 percent tariff on 300 billion dollars worth of Chinese imports,
and that marked a dramatic escalation in our trade war with China. This
move by Trump came as a total shock to Chinese officials, and global financial
markets were thrown into a state of turmoil. Since that announcement, we
have been waiting for the other shoe to drop, because we knew that the Chinese
would retaliate. But honestly, very few of the experts expected something
like this. On Monday, China announced that it is going to completely stop buying U.S.
agricultural products…
China
confirmed reports that it was pulling out of U.S. agriculture as a weapon in
the ongoing trade war. A spokesperson for the Chinese Ministry of Commerce said
Chinese companies have stopped purchasing U.S. agricultural products in
response to President Trump’s new 10% tariffs on $300 billion of Chinese goods.
This
is essentially a trade war equivalent of a nuclear bomb. If the Chinese would
have slapped U.S. agricultural products with tariffs, that would have been a
proportional response. But to quit buying them entirely is an
unprecedented escalation in a trade war that is really starting to spiral out
of control.
And
it is also clearly a political attack on President Trump. The Chinese
know that Trump is highly popular in rural areas, and this ban on U.S.
agricultural products is going to severely hurt farmers in rural areas all
across the United States.
U.S.
voters tend to be more influenced by their bank accounts than by anything else,
and so this is a smart strategic move by the Chinese if they would like to see
a Democrat get elected in 2020.
In
2017, the Chinese bought 19.5 billion dollars worth of U.S.
agricultural products, and that number dropped to just 9.1 billion dollars in
2018.
Now
that number is going to zero, and according to Farm Bureau Federation
President Zippy Duvallthis latest move by China is going to be “a body blow to
thousands of farmers and ranchers who are already struggling to get by.”
China Just Went Nuclear in the Trade War, and There Is No Turning Back Now (Source globalresearch.ca)
When
will Americans start to wake up and realize what is happening? At the end
of last week, President Trump announced that the U.S. would be
imposing a 10 percent tariff on 300 billion dollars worth of Chinese imports,
and that marked a dramatic escalation in our trade war with China. This
move by Trump came as a total shock to Chinese officials, and global financial
markets were thrown into a state of turmoil. Since that announcement, we
have been waiting for the other shoe to drop, because we knew that the Chinese
would retaliate. But honestly, very few of the experts expected something
like this. On Monday, China announced that it is going to completely stop buying U.S.
agricultural products…
China
confirmed reports that it was pulling out of U.S. agriculture as a weapon in
the ongoing trade war. A spokesperson for the Chinese Ministry of Commerce said
Chinese companies have stopped purchasing U.S. agricultural products in
response to President Trump’s new 10% tariffs on $300 billion of Chinese goods.
This
is essentially a trade war equivalent of a nuclear bomb. If the Chinese would
have slapped U.S. agricultural products with tariffs, that would have been a
proportional response. But to quit buying them entirely is an
unprecedented escalation in a trade war that is really starting to spiral out
of control.
And
it is also clearly a political attack on President Trump. The Chinese
know that Trump is highly popular in rural areas, and this ban on U.S.
agricultural products is going to severely hurt farmers in rural areas all
across the United States.
U.S.
voters tend to be more influenced by their bank accounts than by anything else,
and so this is a smart strategic move by the Chinese if they would like to see
a Democrat get elected in 2020.
In
2017, the Chinese bought 19.5 billion dollars worth of U.S.
agricultural products, and that number dropped to just 9.1 billion dollars in
2018.
Now
that number is going to zero, and according to Farm Bureau Federation
President Zippy Duvallthis latest move by China is going to be “a body blow to
thousands of farmers and ranchers who are already struggling to get by.”