Trump Pressures China To Reduce Trade Deficit And Stop Stealing Intellectual Property

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by Dylan Scott, NEE

Trump Asks China To Reduce Their Trade Deficit And Stop Intellectual Property Theft

This week, the President slapped tariffs on steel and aluminum imports to enhance domestic steel production, to the dismay of liberal economists and journalists who don’t understand history and common sense.
Here at this editorial we are unabashedly pro-tariff, not only because they work, but because without them we lose control of important aspects of our economy and of our society as a whole.
Needless to say, we believe these steel tariffs is welcomed news.
Aside from the tariffs though, President Trump has also now asked China to reduce their trade deficit with the United States by 100 billion dollars this year.

The tweet actually understates the request by $99 billion, but let’s move on.
The trade deficit is a problem. We’ve written many articles outlining exactly why that is. In short, the trade deficit causes domestic unemployment, increases inequality, lowers domestic standard of living, and makes us weaker politically and less free.
 
For a more detailed analysis, read our comprehensive piece on how the trade deficit harms the economy.
By getting China to address our trade deficit, it creates an impetus for them to start trading fairly. Whether this means reducing imports on American cars or allowing foreign ownership of their factories it doesn’t matter, because whatever measures they take will invariably help the United States in one way or another.
And for anyone who fears retaliatory tariffs, much like it doesn’t bother China, this shouldn’t bother us since the industry itself is more important than the cheap products.
Another giant problem with trade with China is the gross intellectual property theft they commit. America loses $500 billion annually from international intellectual property theft, and China itself is responsible for $360 billion of this.
President Trump recognizes this issue and let out another tweet showing, if nothing else, his awareness of the problem.

This isn’t new, as the White House has been commenting on this problem since August. However, this is one of many campaign promises that President Trump intends on keeping. Let’s hope he is successful.

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2 thoughts on “Trump Pressures China To Reduce Trade Deficit And Stop Stealing Intellectual Property

  1. I don’t think intellectual property theft is something they will ever control.
    Ebay and Amazon could make a difference there but there is too much profit to be made selling fake goods.
    They will always allow it.

  2. Any company wishing to manufacture their products in China must agree to share all intellectual property with the communist Chinese government. They don’t see anything immoral with that- it’s just business. Any more than they do about making shoddy, toxic,defective products. If Washington wants jobs and factories to return to the US in appreciable numbers, they could do so by eliminating the IRS, Federal Reserve, and ALL federal taxes. DC already prints half their budget out of thin air- just print the other half. The best way for our POTUS and government to “help” American business is by getting the heck out of the way. Make it worth their while to build here,and they will.

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