13:02 GMT14 July 2020
Listen Live
    Cartoons

    Currency Manipulation & Aid Misappropriation

    Cartoons
    Get short URL
    1371
    Subscribe

    Following the designation of China as a currency manipulator by US President Donald Trump’s Treasury Department, 45 himself took to Twitter on Tuesday to declare that the US, despite being embroiled in a tense trade war with China, is in “a very strong position.”

    Donald Trump keeps picking trade fights with China and expressing the utmost confidence that nothing can possibly go wrong.

    Amid a slew of videos clips of pundits Lou Dobbs and Jim Cramer praising Trump’s stance against China, the president continued to pat himself on the back, claiming that “companies are coming to the US in big numbers.”

    Though Chinese companies have abruptly halted purchases from the US’ agriculture industry in response to Trump’s upcoming 10% tariffs on some $300 billion worth of Chinese imports, Trump assured “American Farmers” that “China will not be able to hurt them.”

    Data, however, shows that Trump, who touted that “trade wars are good and easy to win” in March 2018, has a pretty narrow vision when it comes to saving said “American Farmers.”

    The Washington Post reported that in a weekly agricultural conference call on July 30, Senate Finance Committee Chairman Chuck Grassley (R-IA) said the lack of hard payment caps on the Trump administration’s trade war aid for farmers has led to a gross misappropriation of funds. According to the nonprofit Environmental Working Group, a tenth of recipients received more than half of the available $8.4 billion of aid.

    Related:

    Dow Drastically Falls 767 Points As US-China Trade War Escalates
    Chinese TV Drama in Hot Water Over Map Excluding Taiwan (Photo)
    US Designating China as Currency Manipulator to Backfire on Global Economy - Chinese Central Bank
    Trump Says US in 'Very Strong Position' in Trade Dispute with China
    Duterte Calls US ‘Responsible’ for Driving Philippines into China’s ‘Waiting Arms’
    Tags:
    China, trade war, trade war, agriculture, farmers, farmer, Donald Trump
    Community standardsDiscussion

    More cartoons

    • Court Conniption
      Last update: 23:36 GMT 09.07.2020
      23:36 GMT 09.07.2020

      Court Conniption

      US President Donald Trump had yet another meltdown on Twitter on Thursday over the US Supreme Court ruling against him in his fight to keep his financial records from public view.

    • Christo Pretender
      Last update: 22:24 GMT 07.07.2020
      22:24 GMT 07.07.2020

      Christo Pretender

      In recent weeks, US President Donald Trump has been so focused on his domestic agenda of preserving statues and monuments that his campaign has apparently extended the policy to foreign nations, vowing to protect Brazil’s most iconic statue from “left-wing mobs.” Huh?

    • Case Disgrace
      Last update: 23:24 GMT 02.07.2020
      23:24 GMT 02.07.2020

      Case Disgrace

      According to US President Donald Trump, the United States economy is rebounding as the nationwide COVID-19 "flames" are being put out, despite the fact that the nation just marked it's largest single-day registration of new novel coronavirus infections: nearly 50,000.

    • White House Scramble
      Last update: 21:38 GMT 30.06.2020
      21:38 GMT 30.06.2020

      White House Scramble

      Reports have surfaced of White House staffers frantically trying to track down US President Donald Trump over the weekend to get him to delete his retweet of a video in which a man yelled “white power,” but Trump wasn’t answering his phone while partying it up on the green at his Virginia golf course.