Trump: Countries Must End VATs, Subsidies, Anti-GMO Policy, Transshipment
President Donald Trump criticized business officials who have said his tariffs actions are damaging, bragged about countries and executives asking for breaks, and made a list of non-tariff cheating he wants countries to end, all on social media over the weekend.
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He wrote in all capital letters, "THE BUSINESSMEN WHO CRITICIZE TARIFFS ARE BAD AT BUSINESS, BUT REALLY BAD AT POLITICS. THEY DON’T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!"
In talking about world leaders and business executives asking for tariff relief, he wrote, "It’s good to see that the World knows we are serious, because WE ARE! They must right the wrongs of decades of abuse, but it won’t be easy for them."
Those abuses, he said, are
"1. Currency Manipulation
2. VATs which act as tariffs and export subsidies
3. Dumping Below Cost
4. Export Subsidies and Other Govt. Subsidies
5. Protective Agricultural Standards (e.g., no genetically engineered corn in EU)
6. Protective Technical Standards (Japan’s bowling ball test)
7. Counterfeiting, Piracy, and IP Theft (Over $1 trillion a year)
8. Transshipping to EVADE Tariffs!!!"