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'Easier & quicker': Trump says tariffs are actually better than deal with ChinaAs Pepe Escobar writes in The hardcore is yet to come for US & China:
Increased levies on Chinese goods would work faster and better than a traditional agreement so there is no need to speed up ongoing trade talks, US President Donald Trump said after slapping Beijing with additional duties.
The US decision to hike tariffs from 10 percent to 25 percent came into effect on Friday, as the final day of tough talks between the two countries to avert further trade war escalation began in Washington.
However, the US leader said that matters are good enough as they stand now and the deal can wait, as "massive payments go directly" to the US Treasury.
"Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do," Trump wrote in one of his tweets on Friday morning.
The US economy has lost $500 billion annually for many years due to "crazy trade" with China, Trump added, reiterating his earlier pledge to end the practice. He also said that the duties make America "much stronger," while slamming the previous Obama administration for letting "China get away with murder" without elaborating.
The increased tariffs will likely take a toll not only on the parties involved, but also on global trade, Moody's rating agency warned.
France also voiced concern over the escalating US-China trade row, with the foreign minister saying there is "no greater threat to world growth."
Even if the Trump administration slaps 25% tariffs on all Chinese exports to the US, the IMF has projected that would trim just a meager slither - 0.55% - off China's GDP. And America is unlikely to profit, because the extra tariffs won't bring back manufacturing jobs to the USSee also:

As the modern military faces more complicated challenges and obtains advanced technologies, it requires a transition to a professional army, said President Vladimir Putin. "Compulsory military service slowly becomes a thing of the past," he said, adding that "it takes time and appropriate financing" to make it happen.See also:
Comment: Sputnik provides more details: See also:
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