- Feb 22, 2017
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Here is what should happen, let both countries pay what is owed to the other one.
China pays us our 750 billion and we pay them their $1.168 trillion.
Or, we could just pay the difference and call it all even, how does sound.
I AGREE! We definitely could come up with another $418 billion from some other country that wants our debt plus pays down our national debt at the same time!
I do have to wonder one thing though, you do realize there is no connection between our national debt and our trade deficit?
The former is caused by the government spending too much and the latter by you and me and the rest of the country buying things make in China.
Of course I do! But who is buying our National DEBT! Chinese money with the trade deficit!
AGAIN let's have the trade deficit balanced!
And remember the tariffs on STEEL is a national security issue.
At one time the USA was the No. 1 steel producer in the world. Now 4th. How are planes, ships, etc. made from STEEL/Aluminum. That's the primary reason Trump wants
the Canadian and Chinese trade imbalance especially in steel and aluminum to be rectified. Do you think in case of a war Chinese would still provide the USA with steel?
The US imports 2.5% of steel from China. How much steel does the U.S. import from China?
Now you say "2.5%" that's peanuts! True. But that's not the ONLY issue in the trade tariff imbalance.
So I have no problem with China paying to US citizens the $750 Billion owed and the USA then paying China what is due. Remember the $750 billion is like offshore money
and look what Apple is doing with their $350 billion!
We make more than enough steel to cover our national security issues, that is just a red herring.
Ok what ever you say because YOU document everything so I believe YOU!!! RIGHT!
The US produces 81 million tons per year. Do you really believe that the US military uses more than that each year? At the current cost of steel that would mean the US military was spending 300 billion dollars a year on just steel.