China “Shocked” By Navarro Appointment, As Trump Team Proposes 10% Import Tariff
ZeroHedge.com ^ | 22 December 2016 | Tyler Durden
Posted on 12/22/2016 8:12:46 PM PST by Rockitz
As the FT first reported yesetrday, in a dramatic development for Sino-US relations, Trump picked Peter Navarro, a Harvard-trained economist and one-time daytrader, to head the National Trade Council, an organization within the White House to oversee industrial policy and promote manufacturing. Navarro, a hardcore China hawk, is the author of books such as “Death by China” and “Crouching Tiger: What Chinas Militarism Means for the World” has for years warned that the US is engaged in an economic war with China and should adopt a more aggressive stance, a message that the president-elect sold to voters across the US during his campaign.
In the aftermath of Navarro’s appointment, many were curious to see what China’s reaction would be, and according to the FT, Beijin’s response has been nothing short of “shocked.” To wit:
The appointment of Peter Navarro, a campaign adviser, to a formal White House post shocked Chinese officials and scholars who had hoped that Mr Trump would tone down his anti-Beijing rhetoric after assuming office.
Chinese officials had hoped that, as a businessman, Trump would be open to negotiating deals, said Zhu Ning, a finance professor at Tsinghua University in Beijing. But they have been surprised by his decision to appoint such a hawk to a key post.
Shortly after the announcement of Navarro’s appointment, the US Office of the Trade Representative yesterday put added more fuel to trade tensions with Chine when it put Alibaba, Chinas biggest e-commerce platform, back on its notorious markets blacklist of companies accused of being involved in peddling fake goods.
(Excerpt) Read more at zerohedge.com …
TOPICS:Breaking News; Business/Economy; Foreign Affairs
KEYWORDS:alibaba; china; foreignpolicy; importtariff; navarro; peternavarro; trumptrade; trumptransition
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Screw the Chinese. They are our despotic enemy. I fully expect them to launch a nuclear first strike when they are ready.
Hey Chyna, this is what real negotiation will look like for the next eight years. No more pussies smiling at you from across the table. We will talk about real things, and trade on equitable terms.
We don’t need them.
Last year, a number of FReepers destroyed me when I brought this up, saying it’s “capitalism” and “free market”.
They seem to be scarce these days. Good.
Or maybe they changed their minds.
We are a sovereign nation, we can pick and choose who we want for our government representatives! China can F off.
China has been exploiting the current world order, structured and guaranteed by the United States, for almost 50 years.
Can’t blame them, but it must stop.
Meet the new boss.
He’s different.
It is ABOUT DARNED time. Hooray. Finally. A president who wants to make things in America once again.
“No more pussies smiling at you from across the table.”
No more selling out America over whore filled Karaoke bar visits and pay offs.
I can remember when WalMart proudly touted Made in America
That was when old Sam was alive
“Or maybe they changed their minds.”
There are so few remaining it doesn’t matter.
And no, Chyna, you can’t have California.
“I fully expect them to launch a nuclear first strike when they are ready.”
Why would they launch a nuclear strike against their biggest customer who also happens to owe them $1.5 trillion?
Tariffs and taxes caused the Great Depression. Tread lightly Trump.
This is spot on, a bunch of pajama pussies bought off with some karaoke parties and male escorts for the last 20 years. There is a new sheriff in town bitches.
Or establishment trolls
Because they are arrogant communist dictators who want to conquer and own us outright.
“Why would they launch a nuclear strike against their biggest customer who also happens to owe them $1.5 trillion?”
Not to mention they have outsourced all their Research, Development and advanced Education to us.
For pennies on the dollar. They get it all. To include open shelves for cheap product to fund all their ventures.
To include their recent claims over the right of passage for $5 trillion per year of worldwide commerce in the South China Sea.
China is our natural enemy. More dangerous than the Jihadis.
The historic policy of the Republican Party was high tariffs to protect our industries and workers.
I believe in fair trade. Not in foreign countries engaging in cheap dumping of their goods on our shores while they price our goods out of their markets.
That’s been very costly for America.
“And no, Chyna, you cant have California.”
==
Yeah. We can’t let CA go to the commies! Ummm…oh, nevermind.
Peter Navarro a University of California, Irvine business professor
‘Brutal, amoral, ruthless, cheating’: how Trump’s new trade tsar sees China
“Tariffs and taxes caused the Great Depression.”
No, not so.
The Great Depression was caused by an enormous debt deflation which halved the worldwide capital stock.
Back then, America actually made things right here.
For far, far, far too long we have allowed more, and more, and more stuff to pour across our borders from everywhere else.
FINALLY we seem to be waking the heck up.
Finally.
Weening ourselves off of cheap Chinese imports will be very painful. Has to happen but better on our terms.
tired of winning yet?
Those were the ones that only knew the buzzwords and nothing beyond those words. They wanted to appear knowledgeable, but that commodity was unavailable to them.
The tariff on any and all goods imported into the US should be the highest tariff that nation levies on US products.
Don’t want high tariffs on your goods coming here? No problem, just get rid of your tariffs on our goods.
“Ceterum censeo Islam esse delendam.”
Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)
“Last year, a number of FReepers destroyed me when I brought this up, saying its capitalism and free market.”
I think more people are aware now that the difference is not between free trade and destructive tariffs, but between the US getting royally raped under bad agreements, which is what we have now, or the US getting reasonable agreements.
You can’t have a global free market and nation-states at the same time. Somebody is going to abuse it and exploit it.
So I’m all in for internal free markets, it’s global free markets that I’m suspicious about. Face it, since NAFTA we’ve been selling our business assets and acumen and trading them for lawyers and bureaucrats. We’ve been letting China, chief among others steal intellectual property, proprietary industrial secrets, and military technology.
What’s there to think about? Doesn’t matter he’s appointed a hardcore. That doesn’t preclude negotiations, it just means negotiations are going to be tougher by a quantum leap for the Chinese.
.
No reason that opening up trade had to mean shipping the nation’s jobs overseas. That and illegal immigration were sellouts for big business contributions.
watching his documentary right now:
I agree.
- Weening ourselves off of cheap Chinese imports will be very painful.
In the 50s and 60s much junk was ‘Made in Japan’.
In the 70s, ‘Made in Taiwan’.
In the 80s, ‘Made in [South] Korea’.
As the crowd cheers say goodbye to additional jobs in the US. Tarrif wars haven’t worked each time they’ve been used. Work with steel? Nope sure didn’t. Work with any of the 18000 tarrifs presently in place today? Nope. Tarrif wars didn’t work during pre WWII or anytime they’ve been adopted. One thing tarrifs do guarantee. Higher product costs and loss of jobs. Truck drivers sorry you lost your jobs. Long shoremen ooops sorry about your jobs too. Shipping, packaging, freight brokers hey it’s for the common good. Government gets to pick who wins in the free market and the crowd cheers.
What’s killing business is Government yet we cheer when Government gets in the way. Regulations are the #1 job killer in this country and guess what? Tarrifs won’t solve it. Each time a liberal has created a tarrif its crippled the economy. But hey it’s the cool thing to do. Be wary of nationalist populist policies
I can remember when WalMart proudly touted Made in America
That was when old Sam was alive
…
I think Trump has some traits in common with Sam Walton.
We’re in a depression right now.
So much for your argument.
Chinese officials had hoped that, as a businessman, Trump would be open to negotiating deals, said Zhu Ning, a finance professor at Tsinghua University in Beijing.
…
Trump is very open to negotiating deals, and now he’s putting people in place to negotiate good ones for America (for a change).
And guess what!? Another market stepped in to create those products. Here’s a hint…it wasn’t a large US company that stepped in to fill the gap left with a large tarrif either. In each of the years you cite it was a liberal instituting those policies and yet we cheer for larger government. Yay for Government.
When folks realize it’s regulations and corporate taxes destroying business we’ll be better off. We cheer what history has already proven is a failure. Tarrifs destroy the middle class not enrich it. History has proven this.
But hey cheer it up
>>Tariffs and taxes caused the Great Depression. <<
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Sorry, but this is globalist propaganda.
The GD was caused by an ill-fated attempt of globalist bankers to deflate currencies to pre-WWI levels (i.e., 1913) in terms of gold. Bank lending dried up, economic activity froze up, and eventually there were massive bank failures (of smaller banks).
By the way . . . did you know that the slogan “free trade” originated in the propaganda leading up to the Opium Wars, which were used to FORCE China to continue allowing the importation of opium (then grown in India) via the British East India Company.
They better start looking up american vendors….If China throws a tantrum,Wal-Mart will need product and fast….
10% is an arbitrary and low number. We should have reciprocal tax adjustments at the border with every country.
China adds a 17% VAT to all goods imported to their country. They also have item-specific tariffs up to 100%. When they export their goods to us, they issue a VAT credit to their producers which makes Chinese made goods less expensive in America than they are in China.
The EU does the same to us.
Rather than trying to come up with a number like “10%”, we should make tariffs and credits reciprocal — we tax at the border exactly the same rate they tax our goods at their border, and we use the revenue to issue credits to our exporters in the same percentage that they do.
For China, that should mean we put a 17% tariff on their goods and issue a 17% tax credit to our exporters to China. Then do the same to counter any special tariffs or duties they have placed on our goods.
Trump and Putin are triangulating Chinese militancy by nuking up. Absolute brilliance. Nobody move — everything will be just fine.
I don’t see why, really. They could pass the 10% premium on to us customers and we’d still buy the crap and still think we were getting a good deal. Wal-Mart’s business model is to be a category-killer. When they came into towns, the small local mom-and-pop stores that couldn’t compete in categories like toys, housewares, and clothing ended up going out of business, and most of that demand was supplied by Wal-Mart. WHen they open a Supercenter with groceries, one or two local grocery stores close their doors. So now that they’d consolidated the market, Wal-Mart can pretty much charge whatever it wants to.
And it would be better for American towns to pay a little more because a tarriff is being charged on those imports that will ultimately make it more attractive to build those products in the US than to import them. Not in every case, but if we are able to reshore say 25 or 30% of the jobs that have been outsourced to Chinese companies, it would be a major uplift for thousands of US communities.
We’re not going to win ‘em all back but if we don’t start to fix this horrible trade imbalance, we’re not going to win any.
China needs us more than we need them.
No! It’s like Christmas morning every day : )
You can reduce regulations and taxes to zero on your own producers and still lose when another country is subsidizing their own producers. What is your solution then ? Subsidize our own producers ? You are then a big government, globalism spewing cheerleader. Refusing to fight back when someone is beating on you does not make you “noble”, it makes you an idiot weakling.
As part of negotiations with the Chicoms, Trump should threaten to sink their islands in the East China Sea.
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