Beginning To Level The Playing Field In Trade

CNBC reported yesterday that China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year.  The Chinese economy is slowing down, and lowering tariffs is seen as a way to bring back previous growth.

The article also notes:

 

  • Next year, China will implement temporary import tariffs, which are lower than the most-favored-nation tariffs, on more than 850 products, the finance ministry said on Monday.
  • That compared with 706 products that were taxed at temporary rates in 2019.

The article cites a few significant tariff cuts:

The finance ministry said the tariff rate for frozen pork will be cut to 8% from the most-favored-nation duty of 12%, as China copes to plug a huge supply gap after a severe pig disease decimated its hog herd.

…China will also lower temporary import tariffs for ferroniobium — used as an additive to high strength low alloy steel and stainless steel for oil and gas pipelines, cars and trucks — from 1% to zero in 2020 to support its high-tech development.

…The tariff rate for frozen avocado was cut to 7% from the most-favored-nation duty of 30%, the ministry said.

…Tariffs for some asthma and diabetes medications will be set at zero, the ministry said, while duties on some wood and paper products will be lowered too.

Import tariffs on multi-component semiconductors will be cut to zero.

China will also further lower most-favored-nation import tariffs on some information technology products from July 1, the ministry said.

China has long been an unfair trading partner–manipulating their currency, disregarding intellectual property, and generally behaving badly. Hopefully President Trump’s ‘trade war’ will bring some balance into our trade relationship with China.

 

How The Media Works

Dennis Prager posted an article at Townhall today illustrating how the liberal media works. Please follow the link to read the entire article. It is well worth the read. However, I will attempt to summarize the four main principles in the article.

Mr. Prager lists four lessons learned in his recent experience with the media regarding a music concert he conducted:

Lesson No. 1: When the mainstream media write or say that a conservative “suggested” something that sounds outrageous, it usually means the conservative never actually said it. After all, why write “suggested” and not “said” or “wrote”? Be suspicious whenever anything attributed to a conservative has no quotation marks and no source.

…Lesson No. 2: When used by the mainstream media, the words “divisive” or “contentious” simply mean “leftists disagree with.”

Both words were used in The New York Times piece. The writer wrote that my “political views are divisive” and that I’ve made “other contentious statements.”

But the only reason my views are “divisive” and “contentious” is The New York Times differs with them.

…Lesson No. 3: Contrary evidence is omitted.

Despite all the Santa Monica musicians who supported my conducting; despite the musicians from other orchestras — including the Los Angeles Philharmonic — who asked to play when I conducted; and despite the orchestra’s conductor and board members who have followed my work for decades, not one quote in the entire article described me in a positive light.

Rather, the article is filled with quotes describing me in the worst possible way. Two of the four musicians who wrote the original letter against me are quoted extensively (calling me “horribly bigoted” and saying I help “normalize bigotry”); a gay member of the orchestra is quoted accusing me of writing “some pretty awful things about gay people, women and minorities” (for the record, I have never written an awful word about gay people, women or minorities); and the former mayor’s attack on me was quoted.

Lesson No. 4: Subjects are covered in line with left-wing ideology.

The subject of the article could have easily (and more truthfully) been covered in a positive way, as something unifying and uplifting.

“Despite coming from different political worlds, a leading conservative and a very liberal city unite to make music together” — why wasn’t this the angle of the story?

Similarly, instead of its headline, “Santa Monica Symphony Roiled by Conservative Guest Conductor,” the Times could have used a headline and reported the very opposite: “Santa Monica Symphony Stands by Conservative Guest Conductor.”

That also would have conveyed more truth than the actual headline. But the difference between “roiled by” and “stands by” is the difference between a left-wing agenda and truth.

These four lessons illustrate how the game is played. The news is not the important thing–the narrative is.