Trump’s tariffs on China will benefit America and are long overdue
< < Go Back
President Trump signed an executive memorandum Thursday slapping $50 billion in annual tariffs and other penalties on a broad range of imported Chinese products, fulling his campaign promise to challenge a rising and increasingly rogue China. The move is justified and long overdue.
Nervous traders on Wall Street initially sent stock prices tumbling in reaction to reports that the president would impose the tariffs. But in the long run, the president’s action will be a plus for the U.S. economy and preserve American jobs.
By acting decisively, the president has once again proven that he will take on the toughest of foreign policy challenges, knowing there could be major political repercussions. And while many pundits are calling the president’s action a mistake, the start of a potential trade war or even foolish, I have a better definition: it’s called leadership.
President Trump framed Thursday’s actions as a response to blatantly unfair and improper Chinese rules that force U.S. firms seeking to access the Chinese market to form joint ventures with Chinese companies.
The rules enable the Chinese firms to routinely steal the intellectual property of the U.S. companies. This gives the Chinese the ability to use American-developed advanced technology to strengthen their own industries to better compete with American firms in China and around the world.
More From FoxNews: