Trump Should Push Qatari Emir to End Unfair Subsidies

By Newt Gingrich

Opinion

USA – -(AmmoLand.com)- The US economy is a behemoth. With an estimated $21.06 trillion gross domestic product, no other country on the planet can match our overall economic strength – without cheating anyway.

Unfortunately, some countries do cheat.

One of the principle ways that other countries unfairly undermine and attack our economy – and therefore American jobs – is by heavily subsidizing their own industries to create artificially cheaper products and services that out-compete US companies.

American steel and aluminum manufacturers have been greatly harmed by China subsidizing its own metal industries and then dumping tons of artificially cheap steel and aluminum into the US market. The factories and other companies that use these products naturally buy cheaper Chinese metals, and many American manufacturers have been shuttered as a result.

The US solar panel manufacturing market was essentially wiped out by this same strategy. In fact, in 2017, the US International Trade Commission ruled 4-0 that US solar manufacturers had been greatly harmed by Chinese subsidization. Twenty-five US-based solar cell manufacturers closed from 2012 to 2017. This represented an 80 percent reduction in the US industry.

In response to this Chinese metal and solar panel …Read the Rest

Source:: AmmoLand