Lashing out in response to new Chinese tariffs on U.S. imports, President Donald Trump declared in a series of posts on Twitter on Friday that he is ordering U.S. companies to start looking for alternatives to doing business with China.
Trump claimed the U.S. does not need China and would be “far better off without them” and subsequently ordered American companies to “immediately start looking for an alternative to China.”
“Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen!” Trump tweeted.
“We don’t need China and, frankly, would be far better off without them,” he added. “The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.”
Trump called on U.S. companies to start making their products in America, although it was not immediately clear if the president will actually attempt to use executive authority to force companies to change their businesses practices.
The president also said he is ordering all carriers, including FedEx (FDX), Amazon (AMZN), UPS (UPS), and the U.S. Postal Service, to search for and refuse all deliveries of Fentanyl from China.
Claiming Fentanyl kills 100,000 Americans a year, Trump said Chinese President Xi Jinping has not followed through on pledges to stop trafficking of the synthetic opioid pain reliever.
The tweets from Trump, which sparked a sell-off on Wall Street, came after the Chinese Finance Ministry announced plans to impose new tariffs on $75 billion worth of U.S. imports.
The new levies include 5 percent tariffs on U.S. soybeans and crude oil imports, which are scheduled to take effect on September 1st.
The move by China was in response to Trump’s plan to impose a 10 percent tariff on $300 billion worth of Chinese imports.
Trump said in one his series of tweets attacking China that he would be responding to the new tariffs this afternoon.
(Photo: Michael Vadon)
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