President Trump has ordered U.S. companies to pull out of China following China’s decision to hike tariffs on $75 billion of American products.
U.S. businesses must “immediately start looking for an alternative to China,” including bringing their manufacturing back to the U.S. Trump said Friday morning.
“We don’t need China and, frankly, would be far better off without them,” Trump said in a series of tweets.
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“Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
Zerohedge.com reports: He also ordered “all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop – it didn’t.”
The reason for Trump’s ire: the continued theft of US IP over the years:
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them
But Trump wasn’t finished, and filling traders with dread what he may announce next, he promised that “I will be responding to China’s Tariffs this afternoon.”
From Trump:
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them.
The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.
Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.
I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States.
Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop – it didn’t.
Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
Both yields and stocks tumbled on this “unexpected” escalation…
… while the dollar plunge accelerated amid the earlier chatter that Trump may announce FX intervention “shortly” …
… which in turn sent gold soaring to $1,530.
Sean Adl-Tabatabai
Ok so trump I losing it…… ummm you don’t just “up and out” of China……. when you set up in China you are bound by Chinese law that you will not just “up and out” of China…. you either sell to a Chinese company…sell to the Chinese government… or tey systematically BANKRUPT YOU..Thats China… and that’s how things work in China….. enough said
WRONG!!! We are a sovereign nation and NOT bound by anyone else’s laws, President Trump has made sure of that. Why would we bow to another country’s laws? We have our own laws and it says we do not put up with any country RIPPING US OFF for 150 yrs! China has been bankrupting our country and Pres Trump is saying NO MORE. How would they bankrupt any company, they cant. All the company does is pick up and move back to USA, under USA law. You have NO idea what you’re talking about.
So, then if you immigrate to another country set up shop there, you are not bound by their laws? Mmhmm, think again. Do some research.
lol you must not be taking your medication. How can you be so ignorant to think what you are saying is actually reality. You sir are an Idiot. There is a thing called “Youtube” I suggest you familiarize yourself with it and do some research on China and how a communist regime actually operates.
Amewhorica is what it is today because of ignorant people like you. Bankrupt to the tune of not millions of dollars. not Billions of dollars but effectively TRILLIONS of dollars. You sure are clearly an ignorant idiot. lol