One of the most significant aspects to President Trump’s administration was the trade and economic team he assembled to drive the “America-First” Main Street resurgence we saw on display throughout the four years in office. Readers will note, there was no turnover of personnel in the trade and economic team, because they were the priority, the fulcrum of the Trump Doctrine. One of the key people driving the America-First agenda was Commerce Secretary Wilbur Ross.
President Trump’s trade and economic team were laser focused on bringing back domestic Main Street economics as the foundation of our economy. That approach put Wall Street multinationals at a policy disadvantage. No-one without an interest in U.S. economic security was allowed a seat at the Trump table.
Policies and practices that supported made in the USA domestic manufacturing and industry were the prism through which all actions taken by the Trump administration were viewed. The massive growth in U.S. jobs and wages was a result. We also had an unprecedented period of deflationary pricing. Things were, well, economically astoundingly good for American workers.
As a direct consequence China, Europe and ASEAN partners who had their foothold in the U.S. economy were weakened. This made the U.S. (Wall Street) multinational corporations -who rely on outsourcing, offshoring and raw material export- very angry. The exfiltration of American wealth was halted by Trump. There were trillions at stake, and many enemies were made because of the America-First agenda.
Those Wall Street enemies of Trump are essentially allies of Joe Biden policy. Biden has not only re-instituted policies to make the U.S. dependent again, ie. a service-driven economy, he has driven up the prices of energy, raw materials and created massive inflation directly as an outcome of policy.
Today, just as the Biden administration continues using the DOJ to target former Trump officials, China announces they will target Wilbur Ross with sanctions.
Make no mistake about this, China is taking this action against the America-First team because they can. They are, in essence, doing Biden’s bidding…..
BEIJING/WASHINGTON, July 23 (Reuters) – China said on Friday that it has imposed counter-sanctions on U.S. individuals including former U.S. commerce secretary Wilbur Ross in response to recent U.S. sanctions on Chinese officials in Hong Kong.
The sanctions are the first imposed by China under its new anti-foreign sanction law, passed in June, and come days before U.S. Deputy Secretary of State Wendy Sherman is due to visit China amid deeply strained ties.
China also imposed unspecified “reciprocal counter-sanctions” on current and former representatives of a range of organisations, including the Congressional-Executive Commission on China and the U.S.-China Economic and Security Review Commission. (read more)
