BipHoo Company / Flickr In Beijing Trump presses China on...
BipHoo Company / Flickr

The trade war between the United States and China rages on, with a slew of new tariffs from China announced Friday.

The Chinese State Council said it decided to slap tariffs ranging from 5% to 10% on $75 billion U.S. goods in two batches effective on Sep. 1 and Dec. 15.

It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts and components, which will go into effect on Dec. 15. China had paused these tariffs in April.

This is very bad news for a Trump economy already teetering on a recession. A study by the non-partisan Congressional Budget Office, that Republicans like to ignore, says tariffs will cost consumers $580 a year in lost income, which is equal to $60 billion in lost economic activity. And this study doesn’t even include this new round of retaliatory tariffs by China.

Chinese President Xi Jinping knows he has the advantage in these negotiations. He isn’t going to make the promises on agriculture (and more) that this administration demands and Trump is so hard-headed he will probably double down on his trade war, even if it plunges the economy into a recession more quickly.

While Americans suffer the effects of these tariffs, Trump believes that he’s winning his trade war, as is his destiny.

“I am the chosen one,” Trump added, looking up at the sky. “Somebody had to do it. So I’m taking on China. I’m taking on China in trade, and you know what, we’re winning.”

China’s latest gift to the self-described “chosen one” will cause even more trouble for the U.S. economy; while the narcissist who occupies the White House takes his victory lap that ignores reality, Americans will continue to lose big.

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This is a Creative Commons article. The original version of this article appeared here.

1 COMMENT

  1. I wonder if Sarah Palin can see all those Russian score-cards from her house. 10- 10- 10- 10 !
    Their comrade in chief really is a beautiful asset.

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