President Donald was ridiculed – and even called a socialist – after issuing an order to American companies Friday to immediately start looking at pulling out of China.Trump's demand, issued amid a furious Twitter attack on China, ordered U.S. companies to look for an 'alternative to China,' hours after China announced tariffs on an additional $75 billion of U.S. goods in the latest trade war escalation.'The government ordering private companies what to do -- sounds a lot like socialism to me,' tweeted Michael McFaul, the former U.S. ambassador to Russia.He retweeted the president's demand, which did not state the what authority he was acting. 'Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing ... your companies HOME and making your products in the USA,' wrote Trump.Although the president has broads over initiating armed conflict, running his party, hiring and firing, and even reprogramming millions of dollars in funding, there is no known legal authority to tell companies where to invest. Congress sometimes enacts laws barring investment in pariah nations. Doug Barry of the U.S.-China Business council, which includes major corporations like Apple, Ford, and General Motors, told DailyMail.com the president has 'no authority to order companies that are engaged in private commerce to leave the markets in which they're doing very well in and come back to the United States. He cannot. There's no Executive Order that I know of that would enable a president to require U.S. companies to start doing business in a market.' Share this article Share 330 shares He noted that many U.S. companies who do business in China are there for access to the Chinese market, the fastest growing in the world, not just for exporting to the U.S.'A lot of these companies in China are making products for the Chinese market. The cost of being close to their customers is affordable.'The U.S. Chamber of Commerce issued a length statement on China amid Trump's attacks, calling for 'constructive engagement.'But it had no specific statement on the order that companies look at relocating. 'The tweet isn't entirely cheap talk,' China expert Derek Scissors, of the American Enterprise Institute told the Washington Post.Trump announced tariff hikes Friday late afternoon. He could also invoke the International Emergency Economic Powers Act, according to the paper or try to punish companies in other ways such as procurement contracts. Trump made no further mention of his order when he announced new tariffs Friday afternoon.After markets closed, Trump weighed by slapping new tariffs on $450 billion of additional Chinese products. Starting October 1, $250 billion in Chinese products now being tariffed at 25 per cent would be hit with a 30 per cent tariff. And $300 billion in goods being hit with a 10 per cent tariff staring Sept. 1 will now be hit with a 15 per cent tariff, Trump Tweeted. Wrote Harvard
President Donald was ridiculed – and even called a socialist – after issuing an order to American companies Friday to immediately start looking at pulling out of China.Trump's demand, issued amid a furious Twitter attack on China, ordered U.S. companies to look for an 'alternative to China,' hours after China announced tariffs on an additional $75 billion of U.S. goods in the latest trade war escalation.'The government ordering private companies what to do -- sounds a lot like socialism to me,' tweeted Michael McFaul, the former U.S. ambassador to Russia.He retweeted the president's demand, which did not state the what authority he was acting. 'Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing ... your companies HOME and making your products in the USA,' wrote Trump.Although the president has broads over initiating armed conflict, running his party, hiring and firing, and even reprogramming millions of dollars in funding, there is no known legal authority to tell companies where to invest. Congress sometimes enacts laws barring investment in pariah nations. Doug Barry of the U.S.-China Business council, which includes major corporations like Apple, Ford, and General Motors, told DailyMail.com the president has 'no authority to order companies that are engaged in private commerce to leave the markets in which they're doing very well in and come back to the United States. He cannot. There's no Executive Order that I know of that would enable a president to require U.S. companies to start doing business in a market.' Share this article Share 330 shares He noted that many U.S. companies who do business in China are there for access to the Chinese market, the fastest growing in the world, not just for exporting to the U.S.'A lot of these companies in China are making products for the Chinese market. The cost of being close to their customers is affordable.'The U.S. Chamber of Commerce issued a length statement on China amid Trump's attacks, calling for 'constructive engagement.'But it had no specific statement on the order that companies look at relocating. 'The tweet isn't entirely cheap talk,' China expert Derek Scissors, of the American Enterprise Institute told the Washington Post.Trump announced tariff hikes Friday late afternoon. He could also invoke the International Emergency Economic Powers Act, according to the paper or try to punish companies in other ways such as procurement contracts. Trump made no further mention of his order when he announced new tariffs Friday afternoon.After markets closed, Trump weighed by slapping new tariffs on $450 billion of additional Chinese products. Starting October 1, $250 billion in Chinese products now being tariffed at 25 per cent would be hit with a 30 per cent tariff. And $300 billion in goods being hit with a 10 per cent tariff staring Sept. 1 will now be hit with a 15 per cent tariff, Trump Tweeted. Wrote Harvard
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