Trump Threatens China With New Tariff Tantrums

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Treasury Secretary Steve Mnuchin won’t give Congress Trump’s tax returns. Steve said the Department of Justice said turning over his returns would violate the president’s privacy. There is an old law on the books that says Congress has the right to see any citizen’s personal and business tax returns.

The fight over Trump’s tax returns is just one fight in the war between Trump and Congress. Congress wants to expose Trump crimes, but the DOJ has Trump’s back, so getting any information before the 2020 election is a long shot.

Mr. Trump doesn’t want Mueller to testify before Congress. But Attorney General Bill Barr said Mueller can sit before Congress if he wants to feel the pain some lawmakers inflict on people who don’t belong to their political party. Congress wants Mueller to come to Capitol Hill in May.

Meanwhile, Mr. Trump has his mind on Iran and the Middle East. The president just sent a fleet of aircraft carriers to the Middle East to back up his pal Ben Netanyahu’s attempt to coax Iran into a missile firing war. Trump also wants to cut off ties with any country that has a problem with Israel. Mr. Trump can use a shooting war to deflect attention away from the obstruction cries.

Investors aren’t that happy with Trump. The president claims he’ll add more tariffs to products made in China if the Chinese don’t sign the trade agreement the president wants to force down their throats. Trump claims China will pay the tariffs, but that’s not true. If Trump follows through with his new threat, American consumers will pay the tariffs, not China. According to a recent government report, Trump’s trade war with China is expensive. His war cost the country $3 billion a month.

China agrees with most of Trump’s trade demands. But Canada is still holding Huawei’s CFO Meng Wanzhou for violating Iran sanctions. Wanzhou is the daughter of Huawei’s founder. The Chinese want Canada to release her. Canada feels the pressure of doing Trump’s dirty work. China has two Canadians in custody. And China applied economic pressure to Canada when officials decided to hold Meng until the U.S. extradites her. That could take years.

Canada wants the U.S. to step up and help them resolve the Meng issue. Some news reports say the trade talks hinge on what happens to Wanzhou. Trump knows China holds most of the negotiating cards. Their economy won’t suffer as much as American consumers if Trump adds more tariffs to all products made in China.

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