'Trump won't back down': U.S. president plans to make trade war unbearable for China and bigger...

[DonViejo]

‘Trump won’t back down’: U.S. president plans to make trade war unbearable for China and bigger than ever, Steve Bannon says

In an exclusive interview, the former White House chief strategist says Beijing was caught off guard by the magnitude of the plan he hatched with Trump

By SASHA GONG | SOUTH CHINA MORNING POST 09/21/2018 09:28 AM EDT

This story is being published for Pros as part of a content partnership with the South China Morning Post. It originally appeared on scmp.com on Sept. 21, 2018.

US President Donald Trump’s strategy is to make the trade war with China “unprecedentedly large” and “unbearably painful” for Beijing, and he will not back down before victory, former White House chief strategist Steve Bannon said in an exclusive interview.

Bannon said the aim was not just to force China to give up on its “unfair trade practices” – the ultimate goal was to “re-industrialise America” because manufacturing was the core of a nation’s power.

He also took aim at the “Made in China 2025” plan – an attempt by Beijing to catch up with the West in 10 key technology sectors, saying China was using generous government support to reduce its reliance on the West for future technology.

Bannon, who claimed to have helped Trump draw up the trade war plan, said that in the past, tariffs had been limited to imports of between roughly US$10 billion and US$30 billion but the sheer magnitude of the more than US$500 billion in question this time had “caught Beijing off guard”.

“It’s not just any tariff. It’s tariffs on a scale and depth that is previously inconceivable in US history,” Bannon said.

more
https://www.politico.com/story/2018/09/21/trump-china-trade-war-bannon-834658

[raccoon]

1. The Dotard won't back down...until he's destroyed the US economy. nt

[spanone]

2. I believe that's his order from putin

[lagomorph777]

5. Does he not realize that Putin doesn't give a rat's ass about the midterms?

Trump is seriously endangering himself with this idiocy.

[BootinUp]

4. Bingo!

[Johnny2X2X]

3. China has been preparing for this for decades

Tariffs are a horrible strategy, but they're an even worse strategy against a Communist country and here's why. Business leaders cannot apply pressure to Chinese politicians. The Chinese government and economy will act in lock step no matter what their leaders decide. Hopefully pragmatism rules the day, but I wouldn't count on it.

And China has a long term trade strategy that has been being planned for decades to not include the US. Their Belt and Road trade plan is worth $Trillions and would establish Chinese dominance of trade on 3 continents for decades. Trump is essentially saying to China, "You know that plan you have that you've been planning on putting in place regardless, we dare you to put it in place right now."

[uponit7771]

7. +1, and a drop in GDP there wont be as dramatic to the middle class as it would be here

[Renew Deal]

8. Trump only understand brute force

We all better hope it’s not used against the US

[uponit7771]

6. Just what Putin ordered,

[roamer65]

9. China will make up for decreased demand with war production.

Game over.

[WePurrsevere]

10. They' seem to be assuming that the Chinese are suckers & fools...

like Cult45ers. Well, here's a news flash morons. China will survive, adapt and even thrive. It's 'our' economy that will take a huge hit and at a time when we're still recovering (thanks to Obama) from the last mess Republicans made and left Democrats to clean up.

[lunatica]

11. Yeah. We're a blip in China's history

It’s possible they’ll be around a few more thousand years.

[moondust]

12. Moron.

Last edited Fri Sep 21, 2018, 04:03 PM - Edit history (1)

Does he have the slightest idea that China, Mexico, etc., didn't just "take" jobs away from Americans? The jobs were "sent" there by American business executives--his buddies--seeking bigger profits on the backs of more desperate workers, executives who could presumably bring many of them back to the U.S. if they wanted to.

See: Apple.

[eleny]

13. Bannon the Destroyer

[Vinca]

14. I hope they realize China has the winning hand here. They can nuke our economy in a nanosecond

if they want to. Don's cult isn't the purchaser of our nation's debt, they're the ones incurring it. Socialist subsidies for soybean farmers don't come out of the sky on a flaming pie.

[pwb]

15. All this after republicans paid corporations to move jobs overseas.

But the media forgot who helped china make record profits for the corporations. Trumps party.

[erpowers]

16. Can Trump Really Make a Trade War Unbearable for China

Can Trump really make a trade war unbearable for a country that gives massive subsidies to its companies and has a trillion dollar surplus? I watched a news story in which a foreign policy expert claimed that a trade war would not really hurt China because Chinese companies are subsidized by the Chinese government. Supposedly that made it easier for those companies to withstand the loses brought on by a trade war. The U.S. was different because its companies actually lost money when trade wars took place because the U.S. government does not subsidize them.