Putting the China Tariffs into Perspective
Dan Celia: Headwinds of China Have No Comparison to the Tailwinds of Billions of Dollars Flowing Into the American Economy
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia noted today that President Donald Trump said yesterday he will impose new tariffs on about $200 billion of Chinese goods and threatened to add hundreds of billions more as part of his campaign to pressure Beijing to change its commercial practices, escalating trade tensions between the world’s two largest economies.
The 10 percent tax on Chinese imports will take effect on Sept. 24 and will rise to 25 percent at the end of the year, according to administration officials, Celia added.
“I hate to put this into perspective—mainstream media does not like that,” Celia said. “It pokes holes in their never-Trump hypothesis of economic Armageddon. China imports to the U.S. are about 15 percent of all our imports. The total of ALL imports to America is just under 17 percent. The impact on our inflation is fractional, and the headwind of China to our economy is not even comparable to the tailwind we have been getting and will continue to get from the billions of dollars flowing into the American economy through re-patronization of dollars offshore. We must also factor in the fundamentals of the economy that continue to get stronger.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 radio stations nationwide, plus several television networks.
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