Trump Claims His China Tariffs ‘Will Bring in Far More Wealth’ — But May Leave US Consumers to Foot the Bill

Donald Trump
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President Donald Trump expressed “no need to rush” making a trade deal with China on Friday, claiming his newly imposed tariffs “will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind” — but experts say that may not be the case.

Despite Trump’s adamant arguments that his tariff hike will increase wealth for America, experts suggest this policy will have an adverse effect on U.S. businesses which will ultimately trickle down to the American consumer.

The research on this issue, however, has not deterred the president’s agenda or stopped him from making false claims that insinuate this is a direct payment from China.

“Talks with China continue in a very congenial manner – there is absolutely no need to rush,” Trump tweeted on Friday morning, as he announced that “Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products.”

“These massive payments go directly to the Treasury of the U.S,” he then claimed.

According to a recent study conducted by economists from UCLA, University of California, Berkeley, Columbia University, and the World Bank, not only would Trump’s tariffs hit U.S. businesses and consumers the hardest, they would specifically hit farming communities in the Midwest, a community Trump claims will benefit the most.

“With the over 100 Billion Dollars in Tariffs that we take in, we will buy … agricultural products from our Great Farmers, in larger amounts than China ever did,” the president said, in a pair of tweets.

“Our Farmers will do better, faster, and starving nations can now be helped,” he added, inferring that extra funds will also go toward “humanitarian assistance” for “poor & starving countries” despite his clear inaction to address funding for the humanitarian crisis in U.S. territory, Puerto Rico.

Trump also spoke on his talks with China, saying he “will continue to negotiate with China in the hopes that they do not again try to redo deal!”

The president did not stop there, continuing to rant on Twitter that “Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind,” arguing that he would rather impose tariffs than make a deal because it’s “much easier & quicker to do.”

Trump continued to brag that “Your all time favorite President” is going to start “buying from our FARMERS.”

Although the study cited earlier clearly found that “consumers and firms who buy foreign products lose from higher tariffs,” the president insists otherwise.

“Tariffs will make our Country MUCH STRONGER, not weaker,” Trump emphasized, encouraging the American people to “just sit back and watch!”

Unsurprisingly, Trump also used his trade issues with China as an opportunity to attack presidential candidate Joe Biden, again.

“In the meantime, China should not renegotiate deals with the U.S. at the last minute,” he said. “This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with ‘murder!'”

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Otis
Member

Speciar derivery! Kung Pao. War-Mart rove you rong time. Velly rong time.

Andy Trimble
Member

This article takes a very nasty tone about Trump.

Ed
Member

Paying a 25% tax on the stuff we buy from China can put anyone in a nasty mood. I’m glad I don’t need to buy anything big in the near future. How soon is that going to eat up any gains from the tax relief?

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