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Trump Asserts He Can Force U.S. Companies to Leave China

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  • Trump Asserts He Can Force U.S. Companies to Leave China

    President Trump asserted on Saturday that he has the authority to make good on his threat to force all American businesses to leave China, citing a national security law that has been used mainly to target terrorists, drug traffickers and pariah states like Iran, Syria and North Korea.

    As he arrived in France for the annual meeting of the Group of 7 powers, Mr. Trump posted a message on Twitter citing the International Emergency Economic Powers Act of 1977 — a law meant to enable a president to isolate criminal regimes but not intended to be used to cut off economic ties with a major trading partner because of a disagreement over tariffs.

    “For all of the Fake News Reporters that don’t have a clue as to what the law is relative to Presidential powers, China, etc., try looking at the Emergency Economic Powers Act of 1977,” Mr. Trump wrote. “Case closed!”

    The president’s tweet could further unsettle American companies that still conduct an enormous amount of business with China amid a trade war that has already strained ties. Stock markets fell sharply on Friday after Mr. Trump first raised the prospect of cutting off trade altogether.

    The threat came after the Chinese government said it would raise tariffs on American goods in retaliation for the latest levies imposed by Mr. Trump on $300 billion in Chinese imports. Mr. Trump vowed hours later to raise tariffs further.

    Under the weight of Mr. Trump’s tariff war, China has already fallen from America’s largest trading partner last year to the third largest this year.

    China’s commerce ministry issued a strongly worded statement on Saturday evening warning the United States to turn back from ever-escalating confrontation, but it did not threaten any new trade measures.

    “This unilateral and bullying trade protectionism and extreme pressure violate the consensus of the heads of state of China and the United States, violate the principle of mutual respect, equality and mutual benefit, seriously undermine the multilateral trading system and the normal international trade order,” the Chinese statement said.

    China warned that the United States would suffer as a result.

    “The Chinese side strongly urges the U.S. side not to misjudge the situation, not to underestimate the determination of the Chinese people, and immediately stop the wrong approach, otherwise all consequences will be borne by the U.S.,” the statement added.

    In raising the possibility of forcing American businesses to pull out of China on Friday, Mr. Trump framed it not as a request but as an order he had already issued.

    “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing our companies HOME and making your products in the USA,” he wrote on Twitter, adding, “We don’t need China and, frankly, would be far better off without them.”
    https://www.nytimes.com/2019/08/24/w...gtype=Homepage
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

  • #2
    As much as I like the idea of doing something that protects this countries position as the #1 global economic power, we know tariffs and attempts to influence the global free market is not the way to do it based upon economists including Friedman. I suspect even Krugman would say the same even if he does so for political reasons related to Trump. Now Trump is seeking to exercise authoritarian influence over corporations to support the agenda.

    Whether it's influence over Harley, a decision to bail out GM, pandering to unions or providing corporate subsidies to green companies, providing eminent domain or finding Citizens United or regulating industry, government has had it's hands on corporate matters is ways it should not have by both political parties as a historical matter. In this case, Trump already successfully banned a Chinese business where domestic corporations were forced to cut ties. And, he'll likely successfully use the powerful "national security" card to get his way.

    Without passing judgment as to whether what Trump is doing is right or wrong or, if he's using the right strategy to further his ends - the security of our global economic position, he will have a tough time winning. Even if he proceeds to another term, he'll need the next president after him to follow suit and, the next until Xi is out of office which may not be until the man is dead or, until Xi deems his position a loosing one or financially worse than capitulation.

    Whatever the case maybe, a president directly influencing or directing a company to do something or not do something isn't anything new. And, I think we can all agree we don't like it and, that we prefer the hands off practice instead.

    Dan (supposes the C8 might be a good reason for the GM bailout even knowing it shouldn't have happened)
    HFM

    As long as there exists people with religion and a belief in God, there will never be a Libertarian state.

    Comment


    • #3
      This is just another example of how the Executive Branch has amassed enough power to essentially make the POTUS an elected dictator. We can't afford to keep fighting between left and right just hoping for "your guy" to have the power. Eventually someone will come along that will truly misuse that power and both left and right will regret they didn't do something about it when the could. This person will leave the left begging for Trump back and right longing for a return of Obama.

      The problem isn't the person. IT'S THE POWER!

      Steve (knows how this plays out)
      "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

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      • #4
        He is forcing us to leave China.

        Pete (works for a company that is actively seeking new suppliers in Indonesia, Burma, and Cambodia of all places)

        Comment


        • #5
          I love Cambodian food; try to get sent if they’re sending people!
          They speak in bulletpointese leftist nutjob drivel. It doesn't matter. Nothing is as great a motivator as the chance to truly be free.
          -Mr. Raceboy

          Comment


          • #6
            If a POTUS can force people to buy government mandated health insurance...surely Trump thinks he can force companies to leave China or any other idiotic scheme he can think of.
            Originally posted by Mr. Raceboy
            I'm a lot more worried about the commies running DC than I am about commies half way around the world.

            Comment


            • #7
              Originally posted by buzzardmountain View Post
              If a POTUS can force people to buy government mandated health insurance...surely Trump thinks he can force companies to leave China or any other idiotic scheme he can think of.
              it's good to be the king.

              Steve (knows we need to get rid of elected kings instead of worrying about who the king is)
              "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

              Comment


              • #8
                Originally posted by buzzardmountain View Post
                If a POTUS can force people to buy government mandated health insurance...surely Trump thinks he can force companies to leave China or any other idiotic scheme he can think of.

                "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

                Comment


                • #9
                  Originally posted by Mr. Raceboy View Post
                  it's good to be the king.

                  Steve (knows we need to get rid of elected kings instead of worrying about who the king is)
                  The Affordable Care Act was passed by both chambers of Congress and signed into law by the President after a year+ of intense debate and analysis, thus fulfilling all Constitutional requirements of the legislative process.

                  It wasn't unilaterally rage-tweeted by a giant man-baby on his toilet.
                  "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

                  Comment


                  • #10
                    Nice!
                    01000010 01100001 01100001 00100000 01110111 01100101 01100101 01110000 00100000 01100111 01110010 01100001 01101000 01101110 01100001 00100000 01110111 01100101 01100101 01110000 00100000 01101110 01101001 01101110 01101110 01111001 00100000 01100010 01101111 01101110 01100111

                    Comment


                    • #11
                      Originally posted by skooly View Post

                      The Affordable Care Act was passed by both chambers of Congress and signed into law by the President after a year+ of intense debate and analysis, thus fulfilling all Constitutional requirements of the legislative process.

                      It wasn't unilaterally rage-tweeted by a giant man-baby on his toilet.
                      Listen, you can continue down this partisan cheerleader path or you can wake up and realize that's exactly what the problem is. Mark my words, if you continue to focus on who the elected king is instead of how we have allowed ourselves to have an elected king, there will come a time where if someone offered you the opportunity to go back to Trump, you will beg for it.

                      The choice is yours.

                      Steve (knows exactly how this all plays out)
                      "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

                      Comment


                      • #12
                        Way to dodge an argument that might require thought!
                        They speak in bulletpointese leftist nutjob drivel. It doesn't matter. Nothing is as great a motivator as the chance to truly be free.
                        -Mr. Raceboy

                        Comment


                        • #13
                          Originally posted by Jester View Post
                          Way to dodge an argument that might require thought!
                          When have I ever avoided an argument? All I am saying is I have witnessed a level of hate between the vocal portion of the modern left/right paradigm over what is essentially meaningless minutia in the grand scheme of things. I'm trying to not be a part of that anymore. It's not productive. We all have more in common than many of us would like to admit.

                          Jester, it's going to be your children that have to live in this future, not mine. I'll be good. The partisan arguments completely ignore the real problem of the Executive having way too much power and instead focus on how that power is used. I'm not avoiding that what Trump is doing is ridiculous. That's a given. I'm just saying it's ridiculous we have allowed the Executive to have this much power to begin with and unless we reign that in, history tells us the future isn't that bright if you want your children to have a life of freedom similar to what you've enjoyed.

                          You can keep beating that partisan drum to the detriment of the future while we are divided and conquered or you can realize it's really all of us vs them (the powers that be) and try to do something about it now. If not for you, do it for your children. The choice is yours.
                          "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

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