Page 66 - TheLeek_1

MAY 11, 2019 BREAKING NEWS
For the umpteenth time today, President Trump insisted that China will pay the tariffs that entered Round #2 yesterday. Out of nowhere, the president often remarks that he is very, very smart, but on most issues, he is empty-headed, according to an unnamed person affiliated with Kellyanne Conway.
In the case of tariffs, the president not only insists that the Chinese government pays them, he falls on a double sword swearing, “These massive payments go directly to the Treasury of the U.S.” According to Jared Bernstein, Joe Biden’s former economic adviser, “No way! No, no NO! False! Wrong! Fictitious! Absolutely untrue! Phoney! Specious! Spurious! Not true!!”
Shortly after midnight, the president jacked tariffs on several Chinese import categories from 10% to 25% in a ploy to force a trade deal with the Chinese government. It didn’t work. According to several sources, President Xi could be heard snickering 6,921 miles away in Beijing.
In 2018, the U.S. imported $539.5 billion in products (versus services) from China. It is expected that the Chinese government will respond in kind to the latest tariff increase. At the top of the list of strategies under consideration:
•The Chinese government will stop paying tariffs on the $250 billion in goods and products that it is currently paying directly into the U.S. Treasury. At the new tariff rate of 25%, $62.5 billion will not flow into
U. S. government coffers. According to a Beijing insider, President Xi