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Obama Starts Trade War With China

President Obama fired the first shots in a trade war on Friday when he signed an order increasing tariffs on tires imported from China by a whopping 35%. This was done to appease his union supporters who are unable to compete with tires made in China due to high union wages and benefits.

Obama has enjoyed the help and support of unions in supporting his health care initiatives and it looks as if it’s time for the first installment of the expected payback.

China is understandable furious and is expected to slap tariffs on American Poultry and Automobiles.

a story in the Financial Times states:

Chen Deming, China’s minister of commerce, condemned the decision, saying that it “sends the wrong signal to the world” at a time when Washington and Beijing should be co-operating to deal with the worst economic and financial crisis in decades.

“This is a grave act of trade protectionism,” Mr Chen said in a statement. “Not only does it violate WTO rules, it contravenes commitments the United States government made at the [April] G20 financial summit.”

This president is far too inexperienced, surrounded by incompetency and is so arrogant he is unable to see that he has sent the country into a rapid tailspin. China is the only country left that is willing to buy our debt and now he has caused a trade war with them.

In an unbelievable response, the Obama administration warned China that they would complain to the World Trade Organization if China retaliated.

Eswar Prasad, professor of trade economics at Cornell University, warned that the disagreement could escalate.

“These protectionist measures, some of which amount to domestic political posturing rather than substantive restraints on trade, could easily ratchet up into a full-blown trade war and inflict serious economic damage on both countries,” he said.

2012 cannot come soon enough.

About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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