MAKE AMERICA BROKE AGAIN

It is becoming increasing clear that what started out as tariffs against two materials, steel and aluminum, against one country, has developed into a trade war encompassing dozens, soon to be, hundreds of products, affecting some of our closest allies. The tit-for-tat has now become hammer blow for hammer blow. Aluminum and steel became $50 billion worth of good, which escalated to $200 billion in goods.

Keep in mind that Donald Trump used the “national security” card to start the trade war, which was a falsehood and therefore violated the global trade rules.

Tariffs will hurt American companies, imposing added costs their competitors do not face. That will cost American jobs.

Alternative sources for those companies will not be easy to find, if a t all, because specialized components have to go through a long process of quality control and regulatory approval.

55% of High-Tec Chinese exports to America come foreign-owned enterprises. $3.6 billion in semiconductor imports from China are mostly from subsidiaries of American companies.

Here are just a few of the American companies that depend on the Chinese market for a substantial percentage of their profits.

Apple $48.5 billion / 22%

Intel 13.5 billion / 24%

Oualcomm 13 billion / 53%

Broadcom 7.5 billion / 54%

Boeing 10.5 billion / 11%

Texas Instruments 7 billion / 45%

Nike 5 billion /12%

DuPont 4.5 billion / 9%

Dimitry Grozoubinsk, from one of the think tanks said that, “Trade wars involve blowing up you own companies and fanning the resulting smoke across the border in the hope that the smoke will sting the eyes of your intended target.”

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