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China is alleged to harvest the organs of thousands of political dissidents it keeps in concentration camps, it threatens Hong Kong and Taiwan daily, it appears to be funding and assisting the North Korean nuclear missile program and is using the hundreds of billions of dollars of trade deficits to build a first-rate navy to defeat the U.S. as every year’s trade deficit pays for more than two years of China’s military spending.
So why are we trading with China and underwriting this totalitarian regime and mass murder with $380 billion of trade deficits every year?
Question - President - Donald - Trump - Administration
That seems to be the question President Donald Trump is asking as the administration is now pushing for broader economic sanctions that would come atop the 30 percent tariffs on $250 billion of goods and the 15 percent on the remaining $300 billion of goods set to take effect soon. Here, Trump would be using the same set of laws that have been used against Iran, North Korea, Nicaragua, Libya, Russia and others to block currency exchanges, the import and export of securities and to generally disrupt commerce.
Trump and Treasury Secretary Steven Mnuchin just implemented sanctions on fentanyl trafficking by China on August 21. According to the White House: “the Department of the Treasury announced it is identifying two Chinese nationals and a China-based Drug Trafficking Organization as significant foreign narcotics traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) and designated one associate and a China-based entity for being owned or controlled by one of the Chinese nationals.” Fentanyl killed 29,000 Americans in 2017 alone.
Addition - US - Attorneys - Banks - Weapons
In addition, right now, U.S. Attorneys are going after Chinese banks that appear to be funding the North Korean nuclear weapons program. Per a federal court ruling granting subpoenas of financial records, “According to government investigators… North Korea manages...
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