Trump warns countries with 8 'non-tariff cheating' offences as trade war escalates
Topics: Donald Trump, Tariffs, Truth Social, US News, Japan, China
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Featured Image Credit: Andrew Harnik/Getty
Topics: Donald Trump, Tariffs, Truth Social, US News, Japan, China
Donald Trump has ramped up his stance on trade as he issued an eight point-strong list of 'non-tariff cheating' offences which could sour relations with the US.
Although in the midst of a 90-day tariffs pause, President Trump clearly still has tariffs on his mind.
The POTUS took to his social media platform Truth Social on Easter Sunday (April 20) to unveil a long list of eight 'cheats' countries could try to do to rig the tariffs rules, with the warning that the offences could spoil trade relations with the US.
At the top of his eight-point list, Trump highlighted currency manipulation as a cheat.
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Trump has previously accused some countries of deliberately devaluing their currencies to boost their exports while making US products more expensive abroad, therefore putting US goods at an unfair disadvantage in global markets.
He then mentioned VATs 'which act as tariffs and export subsidies', essentially applying the taxes to imports but refunding costs on exports.
Trump further warned against dumping below cost, export subsidies and other government subsidies, counterfeiting, piracy and IP theft, transhipping to evade tariffs and protective agricultural standards with the example of 'no genetically engineered corn in the EU.'
He also added 'protective technical standards' to his list, citing Japan's so-called 'bowling ball test' which Trump accused the country's automotive industry of in 2018.
According to the US president, Japan uses the test to prevent US auto companies out of selling cars in Japan.
"They take a bowling ball from 20 feet up in the air and drop it on the hood of the car. If the hood dents, the car doesn't qualify. It's horrible," he had reportedly said.
The list comes as Trump has warned such 'non-tariff barriers are just as bad as tariffs - maybe worse' and slammed businesspeople who criticize tariffs as 'bad at business' and 'really bad at politics.'
"They don't understand or realize that I am the greatest friend that American capitalism has ever had," he wrote.
"Since our announcement of LIBERATION DAY, many World Leaders and Business Executives have come to me asking for relief from Tariffs. It’s good to see that the World knows we are serious, because WE ARE!" He continued on the platform. "They must right the wrongs of decades of abuse, but it won’t be easy for them. We must rebuild the Wealth of our Great Country, and create true RECIPROCITY.
"But for those who want the easiest path: Come to America, and build in America!"
It also comes as Trump announced a 90-day pause on his tariffs plan on April 9, on all but China which has been threatened with tariffs as high as 245 percent.
President Trump said he permitted the pause after most of the countries on his list indicated negotiating a trade agreement rather than retaliating with counter-tariffs, yet China hit back immediately by applying tariffs to US goods.