Major things are happening on the trade front with China today. In fact, China’s latest move may have catastrophic trade consequences worldwide. They’ve become so “hostile” that President Trump cancelled his upcoming meeting with Xi. What did they do? They decided to place export controls for all nations on any rare earth elements, magnets, and other critical items. The entire free world is up in arms over it.
Catastrophic trade consequences
“Some very strange things are happening in China! They are becoming very hostile, and sending letters to Countries throughout the World, that they want to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China,” Trump wrote.
“Nobody has ever seen anything like this but, essentially, it would ‘clog’ the Markets, and make life difficult for virtually every Country in the World, especially for China. We have been contacted by other Countries who are extremely angry at this great Trade hostility, which came out of nowhere. Our relationship with China over the past six months has been a very good one, thereby making this move on Trade an even more surprising one.
“I have always felt that they’ve been lying in wait, and now, as usual, I have been proven right! There is no way that China should be allowed to hold the World ‘captive,’ but that seems to have been their plan for quite some time, starting with the ‘Magnets’ and, other Elements that they have quietly amassed into somewhat of a Monopoly position, a rather sinister and hostile move, to say the least. But the U.S. has Monopoly positions also, much stronger and more far reaching than China’s. I have just not chosen to use them, there was never a reason for me to do so — UNTIL NOW! The letter they sent is many pages long, and details, with great specificity, each and every Element that they want to withhold from other Nations. Things that were routine are no longer routine at all. I have not spoken to President Xi because there was no reason to do so. This was a real surprise, not only to me, but to all the Leaders of the Free World.” Excerpt from President Trump
The US gave China Permanent Normal Trade Relations status under Bill Clinton. It was a catastrophic move for American workers. It seems that the President plans to financially punish China for its hostile move.
“China’s economy did not become freer. American companies that expanded their operations in China fell victim to rampant intellectual property theft, censorship, and oppressive regulation. China didn’t transform into that liberal democracy we were promised. China’s respect for human rights only worsened, America’s trade deficit exploded as China deepened its unfair trade practices.
The numbers paint a stark picture. In 2001, America’s trade deficit with China was $84 billion. By 2018, that deficit was five times larger, at $418 billion.” Sen Jim Banks on Breitbart
Trump now plans to institute severe tariffs on all Chinese goods. But that’s not everything. Congress this week repealed the Biden administration limits on mining in Alaska, Montana, and North Dakota. Alaska will provide access to cobalt and copper deposits in addition to coal, oil, and gas. As the President put it, “For every Element that they have been able to monopolize, we have two.”
Did China do this because the world was celebrating Trump over the Gaza situation? Asking for a friend.
*****
Related:
Make social media great again! After years of government-sanctioned, taxpayer-subsidized censorship, free speech and a free press are coming back, much to the chagrin of freedom-hating totalitarian leftists everywhere. Progress has been made, but much more needs to be done. Follow our NEW Facebook page here and help spread the word. You can also check out our MeWe page here, follow us on Gab, Truth Social, Twitter, and at the social media site set up by members of Team Trump, GETTR.
Bookmark this site, sign up for our newsletter, check back often, and feel free to contact us here with tips or comments.
While you’re at it, be sure to check out our friends at Whatfinger News, the Internet’s conservative front-page founded by ex-military!And be sure to check out our friends at Trending Views: