https://amgreatness.com/2019/05/14/the-u-s-doesnt-need-china-to-prosper/
The latest numbers on U.S. economic growth are astonishingly good. The land of the free enjoyed 3.2 percent annual real GDP growth for the first quarter of 2019. It would have been even higher—3.5 percent—without the government shutdown.
The numbers vindicate President Trump’s position on trade. The dealmaker-in-chief has been saying for decades that a trade deficit is a drag on growth. And we now learn that almost 1 percent of our GDP growth was a result of a reduction in imports.
Imports are down because Trump’s tariffs are driving down the trade deficit with China. Now that he’s increased tariffs on $200 billion more of Chinese goods, expect the U.S. economy to grow even faster.
Even investors, who have long been wary of tariffs, are now beginning to understand this. Despite the uncertainty surrounding trade with China, the stock market has experienced only modest losses, reflecting the overall strength of the U.S. economy.
The latest numbers on U.S. economic growth are astonishingly good. The land of the free enjoyed 3.2 percent annual real GDP growth for the first quarter of 2019. It would have been even higher—3.5 percent—without the government shutdown.
The numbers vindicate President Trump’s position on trade. The dealmaker-in-chief has been saying for decades that a trade deficit is a drag on growth. And we now learn that almost 1 percent of our GDP growth was a result of a reduction in imports.
Imports are down because Trump’s tariffs are driving down the trade deficit with China. Now that he’s increased tariffs on $200 billion more of Chinese goods, expect the U.S. economy to grow even faster.
Even investors, who have long been wary of tariffs, are now beginning to understand this. Despite the uncertainty surrounding trade with China, the stock market has experienced only modest losses, reflecting the overall strength of the U.S. economy.
The United States has put up with Chinese economic aggression for far too long, under both Democrat and Republican presidents. The Trump Administration has taken a decidedly different tack, pursuing an economic nationalist agenda that insists:
We must defend ourselves against China’s relentless cyberattacks on American businesses, and its theft of hundreds of billions of dollars in intellectual property each year.
We must stop China’s state-owned, state-subsidized and state-controlled enterprises from the wholesale dumping of products. Flooding foreign markets with steel and aluminum, not to mention autos and robotics, is only the first step. The end game is the destruction of free-market capitalism altogether.
We must stop China from forcing America companies to hand over their cutting-edge technology as a condition of doing business there. Forced technology transfer is theft, pure and simply.
We must stop China from manipulating its currency to gain an unfair advantage in trade.
Finally, we must defend Americans from the flood of fentanyl and other dangerous opioids that are killing them by the tens of thousands. The first two Opium Wars were waged by Great Britain against China. The Third is being waged by China against the United States and its people, and it must stop.
