Trump: ‘Who the Hell Cares If There’s a Trade War?’
Presumptive Republican presidential nominee Donald Trump shot down critics of his strategy to prevent American companies from outsourcing, brushing off the idea of a trade war.
Trump touted his proposal for a 35 percent tariff on imports into the United States from the American companies that have outsourced to Mexico, China, and other countries.
“At least the United States is going to make a hell of a lot of money,” Trump said at a fundraiser for New Jersey Gov. Chris Christie. “And these dummies say, ‘Oh well that’s a trade war.'”
“Trade war? We’re losing $500 billion in trade with China. Who the hell cares if there’s a trade war?” Trump continued. “$500 billion, and they’re telling me about a trade war.”
Trump quickly added, “You’re not going to have a trade war,” predicting “China will behave” and “respect our country again” after slamming the country’s currency manipulation.
“We are not going to be the stupid country anymore. Folks, believe me, we are viewed as the stupid country,” Trump continued while pushing back on critics of his positions who argue that they’re anti-free trade.
“We’re like a big, big sloppy bully that gets punched in the face and goes down. You ever see a bully get knocked out? It’s a terrible thing, unless you’re doing the punching, then it’s OK.”
“We are going to make great deals for our country,” he added. “It might be free, it might not be free.”
(h/t The Hill)
As president, Trump could not be able to create these tariffs by himself. Article I, Section 8, Clause 1 of the United States Constitution, authorizes Congress to levy taxes. Most of Trump’s threatened tariffs would violate decades of binding trade deals negotiated by previous administrations and agreed to by previous Congresses. However rather than looking into the legality, we will instead explore Trumps question who should care if there is a trade war.
Trump proposed a 35% tariff on American companies who outsource manufacturing outside of the United States and then ship the products for sale back home. A tariff is a tax on an imported good that is passed on to consumers, both individual and businesses. That’s right, you the consumer will pay Trump’s 35% tax which means you will pay more for the products you buy every day.
For example Forbes estimates Trump’s tariff plan would cost American consumers an extra $6 billion dollars per year just on Apple iPhones alone.