President Trump is hosting an assortment of American companies at the White House in an effort to promote jobs and manufacturing in America. The showcase hosted by President Donald Trump will include products that range from Wiffle balls and bats made in Connecticut to the Lockheed Martin F-35 fighter jet, which is based in Texas.
A range of items is to be included at the White House event, such as snowboards from Colorado, jeans made in Oklahoma, and pepperoni rolls prepared in West Virginia. According to a report from Global News, the exhibit is meant to demonstrate Trump’s “commitment to ensuring more products are made in America.” Several key members of the Trump administration will be in attendance, including Vice President Pence.
This is the second consecutive year that the White House has held an event showcasing products made in America. This year’s event, however, comes “amid escalating trade battles with [the] European Union, Mexico, Canada, and China.” According to the administration, reports Fox Business News, every product on display contains “negligible foreign content.” The guidelines for display state that to be included in the exhibit, the products must be assembled and processed within the United States.
At the same time, the Trump administration maintains its stance on import tariffs. This year’s showcase of Made-In-America products takes place at a time when tensions over trade with other nations continue to rise. Under the direction of the Trump administration, Washington recently imposed 25 percent tariffs on Chinese goods worth more than $34 billion.
During an interview with CNBC last week, Trump threatened China with tariffs on all of their imports to the United States, totaling $500 billion in goods. Last month, the administration also placed tariffs on aluminum and steel imports from the European Union and Canada, stating that there were concerns to national security. Canada responded to Trump’s tariffs by placing levies on American products.
In an interview with Fox News, New Jersey automobile sales business owner Tom Maoli discussed the pros and cons of the tariffs Trump and his administration is placing on China, calling it a “double-edged sword.”
Maoli stated that “at the end of the day the president is on the money driving business and manufacturing back to America.” In the new car business, especially luxury vehicles, the tariffs are a disaster waiting to happen. No consumer is willing to pay an extra $5,000.
The administration’s move will ultimately drive business back to the domestic brands. Maoli believes this President Trump’s intent, calling it the “greatest chess move by any president ever.”
China and Canada are obviously ready to fire back by placing levies and tariffs of their own, but the “chess move” by the president is designed to get everyone to the table, stated Tom Maoli. The tariffs will provoke a discussion, getting them to negotiate and close the gap to a level that the consumer is willing to absorb.
On Sunday, the finance ministers for Canada and Mexico showed optimism about the NAFTA talks with the United States, even as the U.S. tariffs spurred tensions that dominated the G20 meeting in Argentina.