On Wednesday, President Donald Trump announced he was considering big fines against China. The president’s administration seems to be taking a firm stance on retaliatory trade actions. The probe into the theft of intellectual property (IP) has indicated China has been conducting illicit trade practices. The illegal dealings have cost the United States figures never before imagined. Liberals are stunned over the big damages revealed by the investigation.
The investigation revealed China pressured businesses to transfer their intellectual property to the state as a cost of doing business within the People’s Republic of China. In 1974, a trade law was authorized to investigate the theft of U.S. intellectual property rights. The law also allows for the United States to impose trade tariffs on Chinese goods.
President Trump said the cost of damages done to the United States is astounding. Losing hundreds of billions of dollars in technology, American businesses say they have lost millions of jobs to the Chinese market. Chinese firms are accused of stealing ideas and software by extorting businesses who seek to operate within the largest Asian market.
After touring the Forbidden City in China, the president was hoping to maintain a good relationship with President Xi Jinping. The president only asked that China treat the U.S. fairly. President Trump announced to discuss more exact methods of punishment during his State of the Union on January 30th.
The concept of global warming was created by and for the Chinese in order to make U.S. manufacturing non-competitive.
— Donald J. Trump (@realDonaldTrump) November 6, 2012
The president hopes a trade war will not be incurred but did not rule it out. Depending upon the results of the auction over solar panels, steel and aluminum. President Trump seemed to infer the United States could handle itself in a trade war with the Pacific nation.
Lu Kang, the foreign ministry spokesperson, has denied the existence of any laws forcing business to operate in such scandalous ways. Lu Kang claims the exchange of designs often happen in such marketplace environments.
Adding that the nation will do anything to protect what they call legitimate rights. The communist party that rules china has dictated recently to open their markets to IPO investments, so the relationship with America is most vital to the Chinese people.
The Trade Act of 1974 authorizes both tariffs and restrictions on Chinese investments within the United States. In areas where the World Trade Organization does not enforce resolutions, the U.S. will be able to impose tariffs on Chinese imports.
On the campaign trail the republican nominee repeatedly threatened to impose a 45% across the board tariff on China as a measure to even the trade deficit. Prior to the election China was accused of being a currency manipulator. By devaluing their own worth, they gained a trade advantage over the United States.
I am very disappointed in China. Our foolish past leaders have allowed them to make hundreds of billions of dollars a year in trade, yet…
— Donald J. Trump (@realDonaldTrump) July 29, 2017
…they do NOTHING for us with North Korea, just talk. We will no longer allow this to continue. China could easily solve this problem!
— Donald J. Trump (@realDonaldTrump) July 29, 2017
On Wednesday, the president announced China no longer met the criteria for a currency manipulator. China has ceased the practices since the election and pursuing punishment post fact would be foolish when trying to cooperate. Issues concerning North Korea are more urgent for the safety of the region.
The president has convinced China to help impose sanctions on the small isolated nation. Russia was accused by the president of not keeping up their end of the sanctions. Trading with the rogue state, Russia is undermining the efforts of the U.S. and China.
North Korea has claimed to have tested an intercontinental missile and, on a separate occasion, tested a hydrogen bomb. Becoming increasingly more aggressive the regime has fired missiles into the Sea of Japan. One passenger airplane claimed to have witnessed a rocket fly by.
Most recently President Trump assert he would have a great relationship with the leader of North Korea, Kim Jung-Un. Implying they could reach an agreement if the nation was willing to talk. The statement caught media attention when desperate pundits accused the president of personally knowing the dictator. Some liberal pundits played the mental gymnastics game. Assuming President Trump has dementia, try and figure out how many world leaders the president is hallucinating in his fevered dreams.
The president is fit as a horse, according to the naval doctor, due to his good genes. With the likelihood of the president surviving his entire term, the stock market has been soaring and bonds are worth more than ever.
When asked about the U.S. treasury bonds, the president identified he had not discussed the position with President Xi Jinping. Chinese officials have indicated they may begin to slow down on purchases of treasury bonds. President Trump seemed nonchalant on the issue, stating the Chinese government will do what they will.