Trump ‘Ordering’ US Companies to Bring Manufacturing Back Home

VOA State Department Correspondent Nike Ching contributed to this report.WHITE HOUSE — U.S. President Donald Trump is “ordering” American companies “to immediately start looking for alternatives to China” after Beijing announced it is raising tariffs on $75 billion of U.S. goods and resuming 25% tariffs on American autos, in retaliation against Trump’s planned Sept. 1 duty increase.Trump did not explain under what authority he is making the order to American industry, although he said he would be responding Friday afternoon to the Chinese tariffs announcement. In his series of tweets, the U.S. president said the companies should bring their manufacturing home. 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….— Donald J. Trump (@realDonaldTrump) Federal Reserve Chairman Jerome Powell walks to the podium during a news conference in Washington, July 31, 2019.Powell indicated that the Federal Reserve, which cut interest rates last month for the first time in a decade, is willing to make another reduction to keep the U.S. economy growing, but he did not specific the amount or the timing of such action. That angered the president, who tweeted: “As usual, the Fed did NOTHING! It is incredible that they can ‘speak’ without knowing or asking what I am doing, which will be announced shortly.” 
The president then added: “My only question is, who is our bigger enemy, Jay Powell or (Chinese Communist Party) Chairman Xi?” Xi is also China’s president. As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great…— Donald J. Trump (@realDonaldTrump) FILE – A man wearing Nike shoes uses his smartphone near an advertisement for U.S. lingerie maker Victoria’s Secret, in Beijing, China, May 21, 2019.”While we share the president’s frustration, we believe that continued, constructive engagement is the right way forward,” said Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce. “Time is of the essence. We do not want to see a further deterioration of U.S.-China relations.” White House economic adviser Larry Kudlow on Thursday had said discussions this week between deputy-level negotiators were constructive.In response to a question from VOA, Kudlow said there are still plans for the Chinese trade negotiating team “to come over here in September.”Analysts are expressing fears that if there is no truce soon in the trade war with China that could lead to a recession in the United States. 

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