2/28/2020
By Charles Payne, CEO & Principal Analyst

This is Perfect Time for Trump to Suspend Tariffs

Although China is showing signs of returning to work, as the number of coronavirus cases slows, the ramp back to full capacity will take some time.   Meanwhile, lots of containers are filled with rotting products and orders that have been cancelled. 

As world leaders and financial markets adopt a worst case scenario, and defend against the spread of the virus on the fly, the general public has become weary.   Thus far, America has held up much better than Asia and European nations, but that’s not enough.

This is the perfect time for President Trump to show the entire world that America hasn’t forsaken them in the overdue bid for fair economic relationships.  It would be more than a magnanimous gesture, it would move the needle of economic optimism.

The goal was never to cripple China’s economy but to inflict enough pain for corrective actions on their part.  Progress has been made, and more will surely follow.

Moreover, even globalists have to admit it is dumb to have so many vital components of our lives and economy center in a nation that has its own goals, including supplanting America as the preeminent nation on the plant.

In the aftermath of this coronavirus, it would be criminal negligence for big business not to diversify their supply chain and bring some jobs home.  

As President Trump is clamoring for swift action from the Federal Reserve, he can lead by example and temporarily lift tariffs to help China and the world’s economy get through this difficult period. 

Charles Payne
Wall Street Strategies

Add a Comment!