Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to...— Donald J. Trump (@realDonaldTrump) August 1, 2019
See how nice we are? But then my friend let me down:
...buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and...— Donald J. Trump (@realDonaldTrump) August 1, 2019
So what could I do but wreck our economy?
...during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%...— Donald J. Trump (@realDonaldTrump) August 1, 2019
“Any notion that we are in a manageable trade dispute with China is now dispelled,” [Shep] Smith warned at the top of his show. “This is a trade war. America just fired another shot, and you are about to pay. The trade talks with the Chinese effectively collapsed today. The president announced new tariffs today. The markets were retreated today — in a big way. The Dow was up nearly 300 points. Then the president tweeted about the new tariffs. That was 1:30 this afternoon. See it. Now the Dow is down 228. A more than 500-point plunge. What does this mean?”Future's so bright we all gotta wear shades.....
Smith explained that everything the Chinese sells to the U.S. will be taxed at a higher rate. Every toy, piece of clothing, bag of tea and drop of oil, and American consumers are the ones footing the bill.
“First, the importers will pay it, then the distributors will pay up, and the stores will pay it, then they will pass it to you,” he said. “The buck stops with you. You pay. That’s how this works. Always. It’s a new tax on things you buy, and the president says it starts next month. Big picture: If you and everyone else is paying more for stuff, over time you will have to buy less of stuff, that hurts the economy here and everywhere else. That is what trade wars do.”
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