China Tariff Retaliation Shows Failure of Trump Policy
On news that China plans to raise tariffs on Sep. 1 and Dec. 15, respectively, in retaliation for President Trump’s recent increase, Competitive Enterprise Institute senior fellow expert Ryan Young said failure of the tariff policy was predictable.
“Tariffs have once again failed to get China to make needed reforms, instead responding to Trump administration tariffs with retaliation. The administration should change course and re-engage the World Trade Organization dispute resolution process and rejoin the Trans-Pacific Partnership. China has already been lowering trade barriers against other countries and could do so with the U.S.
“Ultimately, Congress needs to reclaim the tariff-making authority it gave away to the president back in the 1960s and 1970s. In the meantime, economic adviser Peter Navarro should take Brett Favre’s advice to a referee and take two weeks off, then quit.”