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This week, our new co-host Tim Doescher, talks to Heritage expert Tori Whiting about Tariffs and what they mean for Americans.
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I was excited to hear at the start that the woman commenting was going to offer solutions to the many existing unbalanced trade situations that we have today. If any tariffs or restrictions are imposed on either country during a trade of material or product, it is not FREE trade. So I listened for the solution to ending these imbalances without using tariffs as the hammer. I heard the idea of sanctions mentioned for about 2 seconds. Otherwise nada. Now while fully understanding that tariffs are a tax on the people of the country imposing them, they are also barriers to the other country trying to enter the taxing country’s market. I do not indorse taxes. Yet I remain at a loss for the method to be used to coerce other countries into balanced transactions when they have been allowed to do business with us for years without balance. What other weapon is available? Is everyone comfortable, for example, just letting China control 80% of the world’s steel manufacturing? Do people believe that an ally and neighbor can still be that while allowing China to second hand dump steel into our country? As I see it, there is no free trade, or very, very, little existing today. The TPP was 95% filled with explanations of various tariffs everyone would charge each other. Otherwise it only needed to be one page. “None of the signatory countries will charge tariffs on any goods or products from each other. The End.” I am a simple guy. Perhaps someone can explain in short sentences with small words what it is that I am not understanding.
I think the problem is that this Podcast was too short. I am very far from an expert on trade. So I would rather have a fuller and more comprehensive explacation in to the field of trade.
I am sure of one thing, however: We ought to quit talking about “balance”. A trade deficit in not like a deficit in one’s finances. Or the nation’s finances. As ignorant as I can be about some parts of free trade, I think the president is even more so. By his always talking about balance, as if it were the same thing as financial balance, he is only confusing the issue. If we have a trade deficit with China, it simply means that we buy more stuff from them than they sell to us. So? They get our money but we get their products. Furthermore, they invest that money here, which helps us.
Other countries have trade surpluses. And they are doing horribly. I believe Venezuela is one of these.
I do believe we must do something about China stealing from us. But putting shackles on our own economy is not the way to do it. Let’s try Sanctions. Or go to the WTO.
And get rid of Peter Navarro. He is a Leftist from way back, who couldn’t even get elected in California.
Sanctions , as I mentioned, received about two seconds on the podcast. I have been attempting to get a better idea of how one would go about instituting sanctions on China for intellectual property theft or dumping overproduced steel until actual free steel markets collapse. I started a conversation on the member feed but haven’t really gotten much satisfaction, even though there have been a number of responses. The WTO has already issued some kind of rebuff to China, but I believe the Chinese just worked around it without even blinking.