US President, Donald Trump accused China of breaking the negotiations and the draft of a trade deal with the United States and claimed Beijing was now “ dreaming” that he would be restored by a Democratic candidate after the Presidential elections of 2020. In a sequence of Twitter posts, US President Trump highlighted the strengthening his stand against China.
After a break down of the trade discussions with China last week, President Trump enforced a strong levy on the imported Chinese products from 10 percent to 25 percent worth more than USD 200 billion and questioning for a similar increment on tariff on the rest of the Chinese import of over 300 billion.
Justifying his decision of enforcement a hefty tax on the Chinese products, US President said, “we are right where we want to be with China. Remember, they broke the deal with us and tried to renegotiate ”.
He also said, “ we will be taking in Tens of Billions of Dollars in Tariffs from China. Buyers of the product can make it themselves in the USA (ideal), or buy it from non-Tariffed countries”.
The US President said, “ we will then spend (match or better) the money that China may no longer be spending with our Great Patriot Farmers (Agriculture), which is a small percentage of total Tariffs received, and distribute the food to starving people in nations around the world! GREAT! #MAGA”.
After some time, he contended that the sudden change of China in policy was direct because it seemed to them that the leaders from the opposition Democratic party would be able to restore him in the White House after the 2020 Presidential elections.
US President Trump said, “China is DREAMING that Sleepy Joe Biden, or any of the others, gets elected in 2020. They LOVE ripping off America! ”
The top economic advisor of the US President, Larry Kudlow said the consumers of the United States would pay the heightened taxes.
He also said, “it’s not China that pays the tariffs, it’s the American importers, the American companies that pay what is in fact, a tax increase ”.
He informed while questioned, “fair enough. In fact, both sides will pay in these things, and of course it depends, ”he also added, “ if it’s a tariff on goods coming into the country, the Chinese aren’t paying”.