Monday, April 09, 2018

Business Model

Someone is "standing up" to mainland China. It could be former New York State Attorney General and governor Eliot Spitzer or even neoconservative Max Boot as they spoke (beginning at 7:29 of video below) on Friday evening's overtime segment of Real Time:

Spitzer: Another one that's important- the tariffs. Democrats should stand u;p and say "you know what, it's time we stood up against China"-we should do it as a global coalition not as one-off deal. Somebody needs to stand up. China was gaming the system.

Boot: Wait a second. I don't think Democras ought to be supporting Trump trying to start a trade war with China. This is not going to work out well.

Spitzer: We need to stand up to China on trade.

Boot: Yea, but not this way.

Spitzer: Again, I said not this way but we need to stand up. It's time somebody said that.

But could it be President Trump, who himself announced tariffs against the mainland, who is standing up to" China?

It could be- but apparently is not, even though as Think Progress reports

The steel and aluminum industries in China will soon be slapped with tariffs up to $50 billion by President Donald Trump. On Thursday, after China announced their intentions to retaliate against the United States with $50 billion in tariffs of their own against U.S. goods, Trump warned that his administration would respond with another set of tariffs, this time targeting $100 billion worth of Chinese goods.

Exempt from the proposed tariffs against China, however, is the clothing manufacturing industry.

U.S. officials say they used an algorithm to determine which goods to exclude from new tariffs. According to the Washington Post, the list was drafted to achieve “the lowest consumer impact,” ensuring goods like clothing and toys were excluded so as not to raise the cost on domestic consumer goods.

When in doubt these days, always say "algorithm."  Most of us don't know what it is but it sounds very, very wise. Trump's move also was wise- given his priorities- because

Exempting clothing from the tariffs provides a big break to American clothing companies that hold trademarks in China. One of those clothing companies belongs to the First Daughter of the United States, Ivanka Trump.

A recent report by the Huffington Post found that the president’s daughter and closest adviser rakes in a total of $1.5 million a year from the Trump Organization while still working at the White House.

It may coincidental that clothing is excluded from the tariffs in the same manner that it is coincidental that "Ivanka dined with Chinese President Xi Jinping at the Trump family’s resort in West Palm Beach on the same day China approved three new trademarks for Ivanka’s company."

Eliot Spitzer and Max Boot recognize that mainland China's free ride must come to an end. However, with Donald Trump as president, all policies emanating from the White House first will be vetted for their impact on the Trump family fortune.

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