With Joe Biden securely embedded in the White House, he is wasting no time in paying back some of the favors that got him there. One of his biggest benefactors is China.
He practically works for the communist regime. For their support of his campaign, Biden is removing all tariffs on Chinese goods imported by the United States.
Economists estimate an annual loss of over $300 billion a year in revenue over the next four years from the removal of the tariffs. It will also open a floodgate for more inferior Chinese products to infest our markets at even cheaper prices.
As an example, a Donald J. Trump Signature Collection tie would have been imported from China at about $62 and sold at $79.99 after retail markup with the tariffs in place. That same tie will now sell for a mere $3.99.
The decision is also causing logistical nightmares for many of our ports. The Port of Oakland in California is a major hub for Chinese imports. They are currently holding two container ships carrying MAGA hats in San Francisco Bay as distributors are refusing to receive the shipments due to their inability to turn a profit on the now valueless product.
The removal of the tariffs has created an estimated 980,000 manufacturing jobs in China. Meanwhile, many of Biden’s excess of executive orders since taking office have cost America thousands of jobs.
While the Democrats seem to be basing their economic policies on fortune cookies and favors, our unemployment rate is soaring, and there seems to be no end in sight.
Confucius once said, “人不能独自在熊猫快递上生存.” Loosely translated, it is a parable about not having all your eggs in one basket, but in Chinese.
Perhaps President Biden should follow this bit of advice from his biggest ally? If he doesn’t, I fear we’ll soon be eating our apple pie with chopsticks.
