Trump's China Tariffs: Extraordinarily Good for America
by Gordon G. Chang • July 29, 2024 at 5:00 am
This is a contest that the United States cannot lose. In short, trade-surplus countries, such as China, cannot prevail over trade-deficit ones, such as America. Last year, America's merchandise trade deficit with China was $279.4 billion.
That is why, ultimately, China will have to pay the cost of tariffs that Trump — or any other American leader — may impose. Clearly, China's regime knows this. People's Daily, the Communist Party's self-described mouthpiece and therefore the most authoritative publication in China, this month is arguing that America should not raise tariffs.
China steals each year somewhere in the neighborhood of a half trillion dollars of American intellectual property. Critics of tariffs, whether they make valid points or not about increased costs, have an obligation to say how they would eliminate or reduce this criminal practice through other means.
Why should Americans want to decimate the Chinese factory sector? The Communist Party of China sees the U.S. as an enemy and seeks the destruction of the American republic. The struggle, in short, is existential. China's regime cannot wage the fight against America without American money.
So why should Americans supply the cash to their enemy?
"I can't believe how many people are negative on tariffs that are actually smart people," President Donald Trump told Bloomberg in a June 25 interview. "Economically, they're phenomenal."
Since then, a lot of smart people have rushed to the American media to say that, on the contrary, high tariffs are horrible.
Trump is right. Although these levies would increase costs to American consumers, the costs would not be nearly as great as experts say. Moreover, there are other considerations, both economic and national security, favoring raising tariffs now.
"As president, Trump shattered the long-standing Republican orthodoxy of favoring free trade," Bloomberg noted in commentary accompanying the interview, released on July 16th: "He says he'll go further if reelected." Trump talked about increasing tariffs on, among others, China.
