China’s stranglehold on the supply of rare earths is damaging America’s ability to build military equipment and commercial cars. So far, Trump’s trade war on China is costly with little to no reward.
“A decade ago, only a fairly small group of congressional Democrats voted to support President Barack Obama’s free trade agenda. Protectionism was on the rise, helping fuel the campaigns of Donald Trump and Bernie Sanders. Most of the “yes” votes for Obama’s trade program were Republicans.”
“Americans who enjoy German lagers, Belgian saisons, and Czech pilsners will get no relief from the higher tariffs that President Donald Trump has poured on their favorite brews.
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The deal locks in the 15 percent tariffs that Trump has imposed on most European goods imported into the U.S., but it also serves as a promise from the Trump administration not to target European goods with product-specific tariffs that could be announced in the coming weeks or months—including potentially huge new tariffs on pharmaceuticals, something the White House has been teasing for months. The deal also creates a pathway for the United States to reduce its tariffs on European cars to the 15 percent threshold, once the E.U. reduces some of its own tariffs on American industrial goods.”
“As President Donald Trump’s tariffs make life less affordable and predictable for Americans, they’re also threatening to make it less creative. American craft stores are struggling to keep up with ever-changing trade policies, which are making the foreign-made products they stock more expensive and difficult to access. Many foreign craft supply companies are now unable to ship to American consumers at all.”
““Deals with the Trump administration simply do not create the kind of lasting certainty everyone is desperate for, because certainty, predictability and strict fidelity to treaties are not White House objectives,” said Dmitry Grozoubinski, a former trade diplomat and author of the book “Why Politicians Lie About Trade.””