Regarding Don Tortorice’s recent opinion piece on tariffs, he cites job losses in the newspaper industry being caused by a “direct result of newsprint price increases.” That is a bit of a stretch considering that since 2004-2018 we have lost over 1,800 newspapers in this country.
A simple Google search will give you the reasons and there are many, primarily the demographic shift of who reads papers, the shift in advertising and certainly the massive amount of free information on the internet.
Tariffs in the past were designed to protect industries. Today the tariffs that Trump imposes are designed to change behavior. China steals, pilfers or whatever you want to call it between $225 billion and $600 billion a year in either intellectual property theft, the forced transfer of technology or their constant effort to steal trade information from American companies.
There is no doubt that the farmers are taking the lion’s share of the hit on the tariffs. Farmers say they would rather do business with the subsidies they receive from the U.S. I certainly hope that a deal can get done with China, but I am not sure that China can find within the current leadership to mend their ways of doing business.
Right now many firms including Yeti, IRobot, Crocs and New Balance are moving production out of China and moving to other Asian countries. Maybe China will get the message, but no administration before Trump even attempted to strike any form of fair trade regulations against the Chinese.
Maybe we won’t know for a while that tariffs do or don’t work, but in the interim I hope China comes to some sort of epiphany.
Right now they have chosen to abuse their trading privilege and entry into an elite group of trading partners and if China can bring itself to work within enforceable global rules then more power to them.
Larry Townsend, Pinehurst