Trump ‘blundered’ on China tariffs – Medvedev
US President Donald Trump’s misplaced tariff policies are hurting America’s allies but will fail to tank the Chinese economy, former Russian President Dmitry Medvedev said on Thursday.
In early April, Trump announced sweeping tariffs on most of America’s trading partners, citing what he called an unfair trade imbalance. After backlash overseas and a negative response from the stock market, he suspended most new tariffs for dozens of countries – except China – for 90 days pending negotiations.
In a tongue-in-cheek post on Telegram on Labor Day, Medvedev, who serves as the deputy chairman of Russia’s Security Council, argued that Trump deserves an “exemplary labor” award for “starting the tariff battle.”
America’s neighbors and its allies in Europe are “suffering” and “crying” from the tariffs, the former president wrote. “They are all in a really bad position, facing the need to bow down in a ritual known as ‘kiss my ass.’”
“China, on the other hand, possesses enormous resources and a vast domestic market –factors that will enable its economy to withstand any amount of pressure. This is where Trump made a blunder,” he said. “Trump’s approval ratings have dipped, while the ‘deep state’ is vigorously resisting him.”
Beijing responded to tariffs of up to 245% on its goods by imposing tit-for-tat tariffs on American imports. “Bowing to a bully is like drinking poison to quench thirst – it only deepens the crisis,” the Chinese Foreign Ministry said this week, warning that China “won’t kneel down.”
Trump has defended his policies, doubling down on his claims that Beijing engages in unfair trade practices. “They deserve it,” he said, responding to a reporter’s question on whether his tariffs are tantamount to an embargo.
