{"id":2011645,"date":"2023-08-25T04:16:02","date_gmt":"2023-08-25T08:16:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-rejects-trumps-10-percent-universal-tariff-proposal-for-foreign-imports\/"},"modified":"2023-08-25T04:20:14","modified_gmt":"2023-08-25T08:20:14","slug":"biden-administration-rejects-trumps-10-percent-universal-tariff-proposal-for-foreign-imports","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-rejects-trumps-10-percent-universal-tariff-proposal-for-foreign-imports\/","title":{"rendered":"Biden administration dismisses Trump&#8217;s 10% global tariff plan for imports."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-administration-rejects-trumps-10-percent-universal-tariff-proposal-for-foreign-imports%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2011645&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>The Biden \u200cadministration dismissed former <span class=\"person-popover\">President Donald Trump&#8217;s\u200b universal tariff proposal on \u200bforeign imports into the United States, saying that it would increase prices.<\/span><\/p>\n<p>The 45th \u2063president suggested that a 10 percent tariff on all goods overseas could be used to cover much\u2062 of the federal debt, while protecting American \u2064producers.<\/p>\n<p>The White House\u2019s official response came roughly a week after the former president was \u200binterviewed by Fox Business Network \u2062host and former Trump White House adviser <span class=\"person-popover\">Larry Kudlow,<\/span> on\u200c Aug. 17.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/us\/trump-reaffirms-his-universal-tariff-proposal-if-elected-in-2024-post-5479059\">Trump Reaffirms His Universal Tariff Proposal If\u200c Elected in 2024<\/a><\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/23\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/us\/trump-reaffirms-his-universal-tariff-proposal-if-elected-in-2024-post-5479059\"><\/a><\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\"><a href=\"http:\/\/www.theepochtimes.com\/us\/supreme-court-leaves-trumps-steel-import-tariffs-intact-5151712\">Supreme \u2063Court Leaves Trump\u2019s Steel Import Tariffs Intact<\/a><\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">3\/27\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\"><a href=\"http:\/\/www.theepochtimes.com\/us\/supreme-court-leaves-trumps-steel-import-tariffs-intact-5151712\"><\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Mr. Trump spoke to Mr. Kudlow\u2063 about his potential economic \u200cplans if he \u2062were ever\u2063 returned to the White House, as he revealed more about his &#8220;Agenda 47&#8243;\u2064 election platform.<\/p>\n<p>The \u201cAgenda 47\u201d platform also includes \u200ban investigation into rising rates of autism, \u2062reviewing the purpose and mission of NATO, death penalty for human traffickers, fighting the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/more-than-1000-nyc-fare-beaters-had-active-arrest-warrants-report\/\" title=\"Over 1,000 NYC fare evaders had arrest warrants: Report.\">drug addiction crisis<\/a> in the United States, and protecting students \u2062from woke \u2063ideology.<\/p>\n<h2>White \u2063House Attacks Former President&#8217;s Tariff Proposal<\/h2>\n<p>\u201c<span class=\"person-popover\">President Biden <\/span>strongly opposes plans to hurt\u200c hardworking families\u2062 with higher prices and higher inflation\u2014as even economists \u2063who served\u200c in the\u200c Trump White House warn such an agenda would,\u201d said Deputy White House\u200d Press Secretary \u200bAndrew Bates in an Aug. 23 statement.<\/p>\n<div class=\"shortcode\">\n<div class=\"lazyload-wrapper\">\n<div class=\"lazyload-placeholder\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>The \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/media-say-bidens-female-led-comms-is-a-first-trump-has-that-now\/\" title=\"Media Say Biden's Female-Led Comms Is A First. Trump Has That Now\">press secretary<\/a> was likely referring \u2064to economists like Paul Winfree, a deputy\u2062 director \u200dof the Domestic Policy Council \u2062under\u200c former President Trump\u200c and now president of \u2063the Economic Policy Innovation Center.<\/p>\n<p>\u201cA \u2064tariff of that scope and size would impose a massive tax on the \u2062folks who it intends to help,\u201d Mr. Winfree told The Washington Post, adding,\u200b \u201cIt\u2062 would get passed along through higher prices at a time when the Federal Reserve has\u200c had difficulty limiting inflation.\u201d<\/p>\n<p>\u201cCombining a \u200bsweeping tariff\u2064 tax on\u2063 the middle class with more trickle-down tax welfare for rich special \u2063interests would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-budget-chief-tax-increase-necessary-to-pay-for-6t-spending-plan\/\" title=\"Joe Biden budget chief: tax increase necessary to pay for T spending plan\">stifle economic growth<\/a> and\u2062 fuel inflation,\u201d Mr. Bates stated.<\/p>\n<p>The former president radically shifted U.S. policy toward tariffs in his\u200b first \u2064term\u2062 to protect American business from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-rejects-trumps-10-percent-universal-tariff-proposal-for-foreign-imports\/\" title=\"Biden administration dismisses Trump's 10% global tariff plan for imports.\">unfair foreign trade practices<\/a>, especially from China.<\/p>\n<p>This eventually\u2063 led to \u200can escalatory trade conflict with \u200dBeijing, which retaliated with tariffs on American farmers, who were heavily reliant on massive food exports to China.<\/p>\n<p>The \u2062restrictions on\u200c American food imports\u2064 hit U.S. farmers particularly hard, forcing the White \u200cHouse\u2063 to provide aid \u2062to the farmers who were affected.<\/p>\n<p>However, despite earlier \u2062plans to lift some tariffs on China, \u200dthe White\u200c House has kept most of those policies from the previous administration in \u200cplace.<\/p>\n<p>In 2019, former President \u200bTrump also imposed tariffs on Mexico and Canada to force them to sign a new trade deal and replace the NAFTA trade agreement with \u200dthe U.S.-Mexico-Canada Agreement (USMCA).<\/p>\n<h2>Trump Promises Higher Tariffs to Protect American Economy<\/h2>\n<p>The 45th president said that if he\u200b returned to office, he \u2062would work with Congress to pass what he\u200c called the \u201cTrump Reciprocal Trade Act.\u201d<\/p>\n<p>He described his universal tariff policy as creating a protective \u201cring around the U.S. \u2064economy.\u201d<\/p>\n<p>\u201cNumber one, I think we should have a ring\u2062 around the collar, as\u2063 they say,\u201d said Mr. Trump.<\/p>\n<p>\u201cI think when companies come in and they dump their\u200d products \u200bin the United States, they should pay, automatically, let\u2019s say a 10 percent\u2063 tax \u2026 I do like the 10 percent for everybody,\u201d he said.<\/p>\n<p>He argued that \u200bthe 10 percent\u2062 tariff on imports would not stop business, but \u201cwould really make a lot\u200b of\u2063 money.\u201d<\/p>\n<p>The\u2062 former president\u200c also said\u200d he would intend \u200bon implementing a \u201cmatching tax\u201d on certain countries on top of the universal tariff.<\/p>\n<p>\u201cWe have countries that charge us 100 \u2063and 150 and 200 percent, and we\u2064 charge them absolutely\u2063 nothing,\u201d he said.<\/p>\n<p>\u201cIf they\u200b charge us, we charge them. Very\u200c simple.&#8221;<\/p>\n<p>&#8220;Now\u2063 two things will happen, one of two things: either they&#8217;ll wipe out the tax and so will we, or we&#8217;ll take in a lot of money, and that&#8217;s OK, too. But eventually,\u200d what they\u2019ll do is they\u2019ll stop doing it,\u201d he continued.<\/p>\n<p>In a video released\u200c in February, the former president revealed his economic agenda for a \u201cnew pro-America system of universal baseline \u2064tariffs\u201d on most foreign products.<\/p>\n<p>\u201cAs\u2064 tariffs on foreign producers go up, taxes on American producers\u200d will \u200bgo \u2064down and go down very substantially. And that means a lot of \u2062jobs coming in,\u201d Mr. Trump \u200csaid in the video.<\/p>\n<p>\u201cNot \u2063only will this system end our gaping trade \u200ddeficits\u2014and they are massive right now\u2014and bring back millions of American\u200c jobs\u2014it will also bring trillions and \u200ctrillions of dollars pouring into the U.S. Treasury from foreign countries and allow us to\u200d invest \u200dthat \u200dmoney in American workers, Amer<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration rejected Trump&#8217;s plan to impose universal tariffs on foreign imports, citing concerns about rising prices. Trump had proposed a 10% tariff on all goods from abroad to address the national debt and support American producers. The White House responded promptly.<\/p>\n","protected":false},"author":327,"featured_media":2011646,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2011645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2011645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/327"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2011645"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2011645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2011646"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2011645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2011645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2011645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}