Facts you need to know concerning Trump's trade policies and the results so far --
You can go to the Internet to check these statements.
1. Market value for the year 2018 ended with all the gains lost for the year and in negative territory. You need only check your 401K.
2. Housing sales are down, interest rates are up.
3. Apple Computer Corporation value is down 10 percent or 12 billion in market value. The cause is China tariffs.
4. General Motors closes assembly plants and 15,000 workers are without jobs.
5. United States-Mexico-Canada Agreement (USMCA) is not yet ratified.
6. Trade surplus with China is higher in 2018 than 2017.
7. The cost of autos is up by $200 per unit. The cause is tariffs on steel and aluminum.
8. Double-digit increase in health care costs.
9. Pre-existing conditions may no longer be covered by health insurance, life-time cost caps for health coverage and yearly caps on health coverage are back again.
10. The national debt is over 1 trillion dollars and climbing.
11. There was a 50 percent loss in net farm income for 2018.
12. Forecast for 2019 is for one million wheat acres to be taken out of production.
13. It may take 10 years to regain market share, even if the tariff war is stopped today.
14. Bilateral trade agreements are currently at 14, all small countries, logistical nightmare trying to navigate 14 different trade treaties.
15. Pulled out of the Trans Pacific Partnership (TPP), which are 15 major countries, i.e., Australia, Japan, Canada etc. soon to be estimated 30 percent of the world's total GDP. USA is on the outside of TPP.
16. Tariffs represent a tax on the American people without congressional approval or a vote by the American people. Congress has abdicated its constitutional duty for oversite.
James P. Gann
U.S. Army Retired
Pineville, Mo.Editorial on 01/31/2019
Print Headline: Letter to Editor