Thursday, December 22, 2016

Trade For Tariffs

Tariffs all around?
One of Trump’s key platforms throughout the campaign was to put an end to free trade, with the President-elect even going so far as promising to rip up the North American Free Trade Agreement that the United States currently has with Mexico and Canada. He also frequently came down on some of the country’s international trading partners like China and Japan, asserting that current U.S. trade practices put American workers at a disadvantage.

Sources told CNN that Reince Preibus has stated to D.C. insiders that the idea of a 5% tariff on imports is being debated internally. The sources, who spoke on condition of anonymity, said Priebus was explicitly warned that the move could mark the beginning of new trade wars and hurt economic growth.
One of the sources explained he was surprised the transition team is still considering the idea after the negative reaction in the business community and the strong opposition from GOP leadership.
Or, people who benefit the most from outsourcing and cheap labor?

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