U.S. to push for 'reciprocal tax' on trade partners - Trump

[jpak]

Source: Reuters

WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he would push for a “reciprocal tax” against countries, including U.S. allies, that levy tariffs on American products, but officials did not provide details on how such a tax would be structured or what goods it would apply to.

During his populist 2016 presidential campaign, Republican Trump railed at countries that had trade surpluses “taking advantage of the United States” and he revisited the theme on Monday.

“We cannot continue to let people come into our country and rob us blind and charge us tremendous tariffs and taxes and we charge them nothing,” Trump told reporters at a White House event to announce a proposed infrastructure plan.

The United States loses “vast amounts of money with China and Japan and South Korea and so many other countries ... It’s a little tough for them because they’ve gotten away with murder for 25 years. But we’re going to be changing policy,” he said.

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Read more: https://in.reuters.com/article/usa-trump-trade/u-s-to-push-for-reciprocal-tax-on-trade-partners-trump-idINKBN1FW22S

[beachbum bob]

1. tariffs will cause US manuf and farmers as we import much more thane we export

trump the moron knows nothing about anything and he is surround by people that know even less. If want fair trade, you got to have trade treaties and trump is proven liar that no one can take seriously period. The ruin of america is what we are watching

[unblock]

2. Lets call if the smoot-hawley reciprocal tax

[jmowreader]

4. Let's be nice

Call it the "Kushner-Ivanka Tariff Act" after the people who are actually in charge in the White House.

[Yonnie3]

3. Tariffs on imports end up being a tax on the end user.

Especially when there are no suitable (price, quality, and function) products produced domestically.

For some reason I'm thinking of Tricky Dick (Nixon) and his price and wage freeze. Not because the mechanics are similar, but because the simple answers just don't work.

For some reason "Rump is thinking that if those "vast amounts of money" were in the country we would "win." Isn't he the "businessman" who makes great deals and those deals are always leveraged?

"People come into our country and rob us blind and charge us tremendous tariffs and taxes." What? So they come here and do all this? OH, I get it. It is those all powerful OTHERS we must fear.


I'm done. There is just no point in trying to decipher the garbage that comes out of his mouth.

[Hoyt]

5. A candidate for Democratic nomination also supported tariffs, withdrawing from trade

agreements, etc. Well, we got em.

[Historic NY]

6. Lets see how that works, US companies overseas

sending products to either their home-based facilities or for sale here make out.

[ProfessorGAC]

7. Well, There Is One Fair Statement In There

If anybody knows about losing money on bad deals, it would be this guy.