Bill Belew has raised 2 bi-cultural kids, now 34 and 30. And he and his wife are now parenting a 3rd, Mia, who is 8.
Two Republicans and a Democrat
What do you two Republicans and a Democrat have in common?
I wish I had a good punchline, but then this post would be in the wrong place.
Republican Senators Lindsey Graham of SC and Tom Coburn of OK are traveling with Democrat Senator Charles Schumer in Beijing.
They are on a mission.
They are threatening China with tariffs….or they are about to.
China, they say, limits the yuan’s movement and it’s not fair. In retaliation, they say there is a bill in the Senate that will slap a 27.5 percent tariff on all Chinese goods.
What that means is that everything with a “made in China” mark on it, and that is nearly everything…will go up by 27.5 %. Somebody has to pay for it and it is likely you and I that will foot that bill.
Chinese President Hu is planning to visit with President Bush next month and this is one of the key items on the agenda.
China seemingly undervalues its currency, which unfairly lowers the costs of its exports is what economists say. I am not smart enough to know the answer to that question.
But, I do know what it means if the price of everything goes up by 27.5%. And that’s not good.
What do you think?
I think it is crazy. These politicians fail to realize (or just don’t care) that most of the goods made in China and shipped to the U.S. are actually made in China at the direction of American companies and it is those American companies that make the big profits. The American economy is very healthy right now so let’s not rock the boat.
My wife and I were discussing this last night.
In the end it is the US consumer who is going to have to foot the bill for this increase, not the Chinese.