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Former President Donald Trump blasted President Joe Biden on Tuesday over the news that the Biden administration is looking to “reshape” the U.S. tariffs on China in an attempt to try and bring down inflation. In the statement, Trump also boasted of the $28 billion “gift” he gave U.S farmers – referring to his administration’s costly bailout of farmers as a result of the tariffs.
Politico reported on Tuesday, “The administration is likely to announce action to lift a narrow set of tariffs on Chinese imports this month.”
“Believe it or not, it is looking more and more like the United States is getting ready to remove the Tariffs on China. This would be a terrible mistake. These Tariffs have brought many Billions of Dollars to our Country, and made affected businesses, such as steel, viable again in the United States,” Trump said in a statement.
“Doing this would be the greatest gift that China could ever receive. Our Farmers alone got $28 billion as a gift from me, that came directly out of the Tariffs because of
Trump’s “spending surge began in mid-2018 when USDA started writing checks to farmers and ranchers to pay for the damage from Trump’s trade war, which brought about higher tariffs that crushed agricultural exports and commodity prices,” reported Politico in 2020, noting that the massive bailout “was never appropriated by Congress.”
“Instead, the money was funneled through USDA’s Commodity Credit Corporation, a Depression-era agency that can borrow from the U.S. Treasury to stabilize the farm economy,” Politico noted.
Trump increased the national debt by some $8 trillion during his four years in office, roughly the same amount former President Obama increased the national debt in eight years.
“Taking these Tariffs off would be a clear signal that the United States is weak, ineffective, and doing BUSINESS AS USUAL. Certain Senators are fighting hard to get this done, even saying such ridiculous things as it “causes inflation.” Those Senators should be questioned as to their real motives!” Trump concluded, in his long-winded statement.
While Politoc stressed that no final decision on Chinese tariffs has been made, the report noted that the “administration will also announce a new tariff investigation under Section 301 of the 1974 Trade Act that will target sectors of the Chinese economy that are heavily subsidized by the Chinese Communist Party.”
This new tariff would take aim at “Beijing support for high-tech sectors like semiconductors and batteries that