Trump has shifted U.S. policy from negotiating global trade deals with an alliance of countries to using Tariff threats to force trade and immigration agreements. 

In January 2018, the President imposed 30 to 50 percent tariffs on solar panels and washing machines. In March 2018, Trump enacted a 25 percent tariff on steel and a 10 percent tariff on aluminum imports. 

India responded with tariffs on $240 million of U.S. goods. Canada also imposed matching retaliations. China imposed retaliatory tariffs on $34 billion of U.S. goods which included aircraft and automotive items along with hogs and soybeans.

Soybeans valued at $12.4 billion is the largest U.S. export to China. Soybean prices are down about 22 percent since April meaning farmers have suffered most. Now China has threatened to stop all soybean purchases. 

For those who don’t know (including apparently the president), import tariffs aren’t fines. They’re taxes paid to U.S. Customs and Border Protection by companies importing goods from abroad. Those companies typically pass on these taxes as increases on our consumer prices.  The Steel Tariff’s may have saved some jobs but the higher prices may cost America $5.11 billion or $1 million per job saved. The New York Federal Reserve estimates that tariffs already imposed by the administration are costing the U.S. about $830 annually per household: Like the 12 percent increase in Washing Machine prices.

Per a Washington Examine article: “Rather than act unilaterally, the U.S. should demonstrate thoughtful global leadership by putting together a coalition of like-minded nations, including Japan and members of the European Union, to challenge China’s theft of intellectual property and unfair trade practices. Use an alliance of nations to Isolate China.”

Trump tweeted: “Trade wars are good, and easy to win.”

We have a President (Tariff Man) who doesn’t win. He’s simply robbing our pocket books.

Ken Peterson

Buchanan