1/24/17

Trump TPP move seen as win for China, but Beijing isn’t celebrating

As a candidate, Trump made China and trade regular talking points. He vowed, among other things, to scrap the TPP, list China as a currency manipulator and slap an eye-popping 45 percent tariff on imported Chinese goods. 

45% tariff on Chinese goods?

Well. I wonder how that's going to sit with all the Trumpkins who have been Happy Walmart Shoppers.

Or how Hobby Lobby, a good 'Christian' business, will deal with it. Hobby Lobby is arguably one of China's greatest US sales outlets. So is Walmart, for that matter.

The concern for Japan, and for others in the region, is that an “America first” foreign policy will mean poorer economic prospects and a broader role for Beijing. Scrapping the TPP will likely bolster support for Chinese regional trade regimes. The Philippines and Singapore are already shifting toward the China-backed Regional Comprehensive Economic Partnership, for instance. 

Doggone if that doesn't sound like that old 'Greater East Asian Co-Prosperity Sphere' thingie.

How well did that work out.