The tariffs are punitive in nature. Fact sheet dir
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(Total Views: 116)
Posted On: 09/13/2024 12:06:35 AM
The tariffs are punitive in nature. Fact sheet directly from the White House - read below in bold, including link.
My view is any company partnering with a Chinese company to sidestep the tariffs and slapping a Made in America label on the product goes directly against Biden’s economic plans and is bad for America. I wouldn’t at all be surprised if companies participating in these activities could be boycotted.
Now, in all fairness, America has been a major contributor to the
current problems it faces with China. America outsourced blue color work to China to benefit from low cost labor. Next America outsourced engineering/design to China due to low costs. And then comes white color outsourced to manage the operational business. We now wake up to a competitor that America created. America failed to realize that while there was significant costs benefits, there was a loss of control. America is now in the mode of wrenching back control.
Do I believe it is an America versus China scenario - yes I do. Why, those same companies who outsourced for costs benefits are now under tremendous pressure from their customer’s to mitigate China based supply risks. The PRC versus ROC is also a contributing factor.
My thoughts.
President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses .
https://www.whitehouse.gov/briefing-room/stat...practices/
My view is any company partnering with a Chinese company to sidestep the tariffs and slapping a Made in America label on the product goes directly against Biden’s economic plans and is bad for America. I wouldn’t at all be surprised if companies participating in these activities could be boycotted.
Now, in all fairness, America has been a major contributor to the
current problems it faces with China. America outsourced blue color work to China to benefit from low cost labor. Next America outsourced engineering/design to China due to low costs. And then comes white color outsourced to manage the operational business. We now wake up to a competitor that America created. America failed to realize that while there was significant costs benefits, there was a loss of control. America is now in the mode of wrenching back control.
Do I believe it is an America versus China scenario - yes I do. Why, those same companies who outsourced for costs benefits are now under tremendous pressure from their customer’s to mitigate China based supply risks. The PRC versus ROC is also a contributing factor.
My thoughts.
President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses .
https://www.whitehouse.gov/briefing-room/stat...practices/
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