I think the story below says it all with respect to why we need to get China to comply with the treaties they have already agreed to when they joined the WTO and have flaunted repeatedly since:
In the meantime, if we look at the situation of the working poor, we can come to several conclusions about Trump’s policies as a whole…
- the lowest number of unemployed Americans since 1969 means overall the poor are better off.
2. according to Goldman Sachs wage growth has gone disproportionately to lower wage workers
In fact, up to now inflation has been so low, that the Fed is considering lowering interest rates to stir inflation, but in the meantime, it means the working poor are seeing real wage growth for the first time in nearly two decades
The news media has been misleading with respect to tariffs in one respect. Up to now while the tariffs have caused some price increases to date, most have been offset by price reductions by Chinese companies or lower margins by US companies paying the tariffs and have not impacted prices in the way tariffs can.
3. Hispanics and African Americans are experiencing less racism from white according to a Penn Study as the poor are disproportionately African American and Hispanic relative to whites this reduced racism level should translate to opportunities in time.
In the end, Trump’s trade war with China is intended to either reduce or eliminate the mercantile trade policies China has been practicing for decades. Alternatively, Trump’s policies will pressure US companies to move their supply chains out of China to countries that will respect the WTO policies on trade. Free trade only works when it is a fair trade. It is hard to say Trump’s efforts to force China to trade fairly hurt the poor, when China’s policies have done so much to contribute to the number of American poor.
I think the best point in the article is that we need to be aware of how China subverts attempts to force them to comply with the WTO including transshipping (shipping to intermediary countries to hide the point of origin).
One need go no further than what China has done in the something as basic as the “honey industry”. Between cutting their honey with other sweeteners and then transshipping it to avoid US inspections of “Chinese” honey, it become apparent that we need tough inspection procedures to support trade laws if Americans are not going to be taken advantage of… whether you are rich, middle class, or poor.
https://www.foodrenegade.com/your-honey-isnt-honey/
In case anyone thinks I am racist towards Chinese, let me address that potential misconception. My wife of thirty years is Chinese and the love of my life. I have great respect for traditional Chinese culture. But I take great offense to the practices of the Chinese government as it relates to business and what it condones and even encourages.
Another example of these abusive trade practices is the use of “slave” labor in jails to peal garlic and undermine US garlic farmers. Should we as Americans turns a blind eye to these practices to insure we get cheap peeled garlic? I picked honey and garlic because they show at even this mundane level, Chinese government approved actions are undermining US workers and fair trade. Think about what those actions are doing in other industries.
