Bianco Research Jim Bianco discusses whether President Donald Trump’s tariffs affect the federal reserve in ‘Money Money’.
President Donald Trump called China “the greatest abuser of all” when it comes to tariffs, adding to a social post on the truth on Monday that Beijing is ignoring his warnings “not to avenge”.
Trump warned after China’s Foreign Ministry accused the US of “Economic harassment” of setting a new 34% fee in place last week. Bejing also announced its 34% tariffs in the US
“Oil prices are downward, interest rates are lowered (slow moving Fed should lower rates!), Food prices have lowered, no inflation, and long abused US is bringing billions of dollars a week from tariff abuses already in the country,” Trump said on Monday morning.
“This is despite the fact that everyone’s biggest abuser, China, whose markets are falling, as soon as she raised her 34%tariffs, at the top of her long -term high fees (plus!), Rejecting my warning of places not to retaliate,” he added. “They have done enough, for decades, taking advantage of OL ‘USA good!” Our past leaders are the blame for allowing this, and much more, to happen to our country. Make America great again! ”
China retaliates with 34% US import fees
President Donald Trump, left and Chinese President Xi Jinping. (Getty Images / Getty Images)
China’s Foreign Ministry over the weekend collided with the latest Trump administration tariffs.
“By taking such action, the United States oppose the fundamental laws of the principles of the economy and the market, do not accept the balanced results achieved through multilateral trade negotiations, ignores the fact that the US has long benefited from international trade, and armed fees to exert maximum pressure on selfish interests,” he said.
“This is a typical act of unilateralism, protectionism and economic harassment. According to the ‘reciprocity’ and ‘justice’ mask, the United States is playing a multi -zero game to essentially follow the ‘First America’ and ‘Exclusion of America. ‘”He continued.” He tries to exploit the tariffs to destroy the existing international economic and trade order, to set American interests over the common good of the international community, and to advance hegemonic ambitions in the US at the cost of legitimate interests of all countries.
“Such an action will inevitably face widespread opposition from the international community,” he warned.
China stopped the Tikit Agreement with us on tariffs: Report
President Donald Trump holds a table of “reciprocal tariffs” while talking during a trade announcement event “Make America Wealthy again” at the White House on April 2 in Washington, DC (Chip Somodevilla / Getty Images / Getty Images)
China announced last week that it would impose its 34% tariffs on the US, which will take effect on Thursday, April 10.
“China played that wrong, they panic – the only thing they can’t afford to do,” Trump wrote in response to social truth.
Its Foreign Ministry then said that “China is an ancient civilization and land of ownership and justice” and “The Chinese people value sincerity and good faith.
“We do not provoke trouble, nor are we scared of it. The pressures and the threat are not the right way to deal with China,” she added.
A commentary published Monday in the popular daily, the official newspaper of the Communist Party of China added that “Heaven will not fall” and “Faced with the punch regardless of American taxes, we know what we are doing and we have the means at our disposal”, according to the Associated Press.
China President Xi Jinping shakes hands with President Donald Trump in front of a bilateral meeting on the G20 summit margins in Osaka, Japan, in June 2019. (Brendan Smialowski/AFP/Getty Images/Getty Images)
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An analyst in Teneo also noted that “abandoning restriction” in China’s response to the latest tariffs certainly reflects “diminished hopes for a trade agreement with the US, at least in the short term,” CNBC also reported.
