There are few groups I despise as much as the “U.S.” Chamber of Commerce. First of all, let’s be clear about who they are. It’s not an American organization that promotes American interests. Rather, the “U.S.” Chamber of Commerce is the U.S. branch of a global trade organization that was founded in France in 1599. Its mission is the promotion of trade and they consider all trade, regardless of winners and losers, to be good. If trade benefits China to the detriment of the U.S., then that’s fine with them and they want more of it. They couldn’t care less that it results in an enormous, unsustainable trade deficit that drives unemployment and poverty in the U.S.
So it should come as no surprise that it opposes any efforts by the administration to restore a balance of trade. After imposing tariffs on steel and aluminum, the Trump administration is now taking aim at certain imports from China that have thrived on the theft of American intellectual property. Protecting national security from the theft of such property is a no-brainer, though past administrations haven’t had the guts to do it. Naturally, the Chamber of Commerce doesn’t like it. Siding with the Chinese, here’s what they have to say:
U.S. Chamber of Commerce President Thomas Donohue said in a statement on Thursday that such tariffs, associated with a probe of China’s intellectual property practices, would be “damaging taxes on American consumers.”
… Donohue said the Trump administration was right to focus on the negative economic impact of China’s industrial policies and unfair trade practices, but said tariffs were the wrong approach to dealing with these.
… “Tariffs of $30 billion a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform,” Donohue said. “If the tariffs reach $60 billion, which has been rumored, the impact would be even more devastating.”
… “Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation,” hurting consumers, businesses, farmers and ranchers.
Of course, the Chinese wholeheartedly agree:
In Beijing, Chinese foreign ministry spokesman Lu Kang said Donohue’s comments were correct, adding that recently more and more American intellectuals had made their rational voices heard.
“In fact, U.S. trade with China in the past 40 years very objectively reduced American families’ per capita spending burden,” Lu told reporters. “We have said many times, there are no winners in a trade war.”
These statements are loaded with lies about trade that have been perpetrated for decades by globalists and their organizations like the World Trade Organization and the Chamber of Commerce. Here’s the truth:
- Tariffs are not taxes on American consumers. They’re taxes on the companies who export to the U.S. They’re incentives to encourage corporations to produce domestically, driving a demand for workers. They’re incentives to encourage consumers to buy the cheaper, domestically made alternatives. If some consumers choose to continue buying the more expensive imports, then the revenue from the tariffs enables the federal government to keep individual tax rates low. In the first half of America’s history, all federal revenue was generated by tariffs.
- Tariffs don’t cause trade wars. All trade is a “war” and those who run chronic trade surpluses are the winners and those with chronic trade deficits – the U.S. has the worst in the world by far – are the losers. We’ve been in a trade war since the birth of our nation. In 1947, with the signing of the Global Agreement on Tariffs and Trade (GATT), the U.S. gave up the fight in the hope that doing so would placate the aggressor nations who had initiated the past world wars. It’s the global equivalent of local businesses paying “protection” money to local gangsters. At some point – the point the U.S. has now reached – the extortion becomes too much to bear.
- When you have such an enormous trade deficit as the U.S. – the goods deficit now approaching a trillion dollars per year – it’s impossible to come out the loser by imposing tariffs and restoring a balance of trade. Contrary to the claims of the globalists, costs for American consumers would actually go down when those costs are measured as a percentage of their incomes, which is the only rational way to measure it. Who cares if prices rise when your wages rise even faster? That’s exactly what would happen.
Don’t listen to the self-serving traitors like the U.S. Chamber of Commerce. The tariffs that the U.S. used throughout its history to build itself into the world’s preeminent industrial powerhouse will work again just like they did in the past. It’s time to force grossly overpopulated nations with bloated labor forces to deal with their own problems. Americans are tired of footing the bill. Bring on more tariffs!