Trump says China could face more than $500 billion in US tariffs

[1R0N M4N XL]

President Donald Trump said on Thursday $34 billion in tariffs will kick-in against China at 12:01 a.m. EST on Friday morning. Another $16 billion are expected to go into effect in two weeks, he said.

Aboard Air Force One on his way to a rally in Montana, Trump told reporters he would consider further escalation, potentially imposing tariffs worth $500 billion should the Chinese government retaliate.

First “34, and then you have another 16 in two weeks and then as you know we have 200 billion in abeyance and then after the 200 billion we have 300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300," Trump said.
“It’s only on China," he added.

Trump's statements reinforce earlier threats that he would escalate the trade conflict. The dispute with China has roiled financial markets worldwide, including stocks, currencies and the global trade of commodities from soybeans to coal.

China has said it will not "fire the first shot", but its customs agency made clear on Thursday that Chinese tariffs on U.S. goods would take effect immediately after U.S. duties on Chinese goods kick in.

https://www.msn.com/en-us/money/mark...cid=spartanntp

[1R0N M4N XL]

[1R0N M4N XL]

China activates countermeasures after U.S. tariffs take effect
Source: Xinhua| 2018-07-06 17:42:22|Editor: Lu Hui

BEIJING, July 6 (Xinhua) -- China levied countermeasure tariffs on select U.S. imports at 12:01 p.m. Beijing time Friday in response to the new U.S. tariffs, according to the General Administration of Customs.

This came after the United States imposed additional tariffs of 25 percent on Chinese goods worth 34 billion U.S. dollars on Friday, with which Chinese Commerce Ministry said the United States has ignited the largest trade war in economic history.

The Chinese side, having vowed not to fire the first shot, was forced to stage counter-attacks to protect the core national interests and interests of its people.

In response to the U.S. decision to impose additional tariffs on Chinese imports, the Customs Tariff Commission of the State Council decided in mid-June that 25-percent additional tariffs for U.S. products worth about 34 billion dollars, including agricultural products, vehicles and aquatic products, will go into effect from July 6.

Source:http://www.xinhuanet.com/english/201..._137306223.htm

[Anthony PV]

Rejoicing over the economic war between China and the US, aren't you, pinoy?

[1R0N M4N XL]

Rejoicing over the economic war between China and the US, aren't you, pinoy?

great time to buy stocks/shares at the low price..

[Larali]

Great, now we'll have to pay 5X as much for a pair of Murican-made shoes. Thank Trumpwad.

[KMack]

Tariffs should mirror and match. If Canada put a tariff of 245% on American exported dairy products, then we do the same to them. Other countries charge the USA higher tariffs than what the USA charges them.

Germany willing to cut tariffs on US cars, lifting automakers’ shares
https://www.foxbusiness.com/politics...omakers-shares
On Wednesday, the chief executives of prominent German auto companies – including Daimler, BMW and Volkswagen – “liked” a Trump administration proposal for both sides to reduce those tariffs to zero, according to German business news outlet Handelsblatt. The proposal was said to have been made by U.S. Ambassador to Germany Richard Grenell during a meeting at the U.S. embassy.

The EU tariff rate on all U.S. car imports is 10% while the U.S. tariff on imported European cars is 2.5%.

Trump has been saying for decades, as far back as the 80's on Oprah's TV show.

[Larali]

Tariffs should mirror and match. If Canada put a tariff of 245% on American exported dairy products, then we do the same to them. Other countries charge the USA higher tariffs than what the USA charges them.

Germany willing to cut tariffs on US cars, lifting automakers’ shares
https://www.foxbusiness.com/politics...omakers-shares
On Wednesday, the chief executives of prominent German auto companies – including Daimler, BMW and Volkswagen – “liked” a Trump administration proposal for both sides to reduce those tariffs to zero, according to German business news outlet Handelsblatt. The proposal was said to have been made by U.S. Ambassador to Germany Richard Grenell during a meeting at the U.S. embassy.

The EU tariff rate on all U.S. car imports is 10% while the U.S. tariff on imported European cars is 2.5%.

Trump has been saying for decades, as far back as the 80's on Oprah's TV show.

Is "liking" tweets standard international relations protocol now?

I'm really not trying to be an ass, I was just wondering, because yesterday when I was in college, that wasn't what we were taught.

Sorry, just lost.

[KMack]

Is "liking" tweets standard international relations protocol now?

I'm really not trying to be an ass, I was just wondering, because yesterday when I was in college, that wasn't what we were taught.

Sorry, just lost.

Probably yes. But IDK for sure.

[1R0N M4N XL]

- Trump going all out war against China. additional $200B products face 10% tariffs after review.
- List released Tuesday. I think the tariff rates will be increased futher up.
- Chinese netizens better sell all their stocks. US stock investors also needs to be careful.
commodity countries also better kiss & make up to US.
- US may lose one eyes, but China will lose both if this trade war heats up.
- EU may benefit if it kiss & make up with USA.


Everyone needs to be careful. Importers have been carefully importing past few months expecting these trade wars.

China better blink or else world ends as we know today. China better sign similar to plaza accord. There must be a reason Xi Jinping declared himself Pharoah for life (expecting turmoil ?). Hoping these things don't happen, hoping for the best


https://www.usatoday.com/story/news....ffs/773599002/

Trump administration threatens China with $200 billion in additional tariffs

WASHINGTON – President Donald Trump fired another shot in an ongoing trade war with China on Tuesday, as his administration released a list of $200 billion in Chinese goods subject to 10% tariffs.

"This is an appropriate response under the authority of Section 301 to obtain the elimination of China’s harmful industrial policies," said U.S. Trade Representative Robert Lighthizer, claiming that Chinese trade policies represent a national security threat to the United States.

China, which has denied U.S. accusations of unfair trade policies, has retaliated against previous tariffs with levies on U.S. goods, and can be expected to do so again.

The proposed tariff list that President Trump ordered last month ranges from Chinese air conditioners


to leather goods.

The proposed tariffs do not go into effect immediately, but will undergo a two-month review process as officials from both countries negotiate settlements to their trade disputes.


https://www.cnbc.com/2018/07/10/whi....n-tariffs.html

Trump administration announces list of tariffs on $200 billion in Chinese goods
The Trump administration on Tuesday announced a list of tariffs on $200 billion in Chinese goods, making good on the president’s recent threats to escalate a broadening trade war with Beijing.
The tariffs will undergo a two month review process, with hearings on Aug. 20 through Aug. 23.

The Trump administration on Tuesday released a list of 10 percent tariffs on $200 billion in Chinese goods, making good on the president’s recent threats to escalate a broadening trade war with Beijing.

“The $200 billion figure we're looking at is roughly equal to their exports to us,” a senior administration official said.

The tariffs will not go into effect immediately, but will undergo a two month review process, with hearings on Aug. 20 through Aug. 23.



Some of products on the list facing tariffs are from Made in China 2025 sectors, the official said. Made in China 2025 is a strategic plan to make China a leader in key global industries, including technology.

When compiling the list of goods, the U.S. Trade Representative took into account what could cause disruptions to China's economy.

The official said the administration has been extremely clear to China in terms of its concerns about trade, but China has been unresponsive.

"For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition," U.S. Trade Representative Robert Lighthizer said in a statement.

"Rather than address our legitimate concerns, China has begun to retaliate against U.S. products," he added.

The list of new sanctions follows warnings by Trump that he may implement tariffs on at least $500 billion in Chinese goods should Beijing retaliate to the $34 billion in U.S. tariffs that kicked in Friday.

Despite the president's threats, China implemented retaliatory tariffs on the U.S. shortly after the $34 billion went into effect last week.

Trump has repeatedly threatened escalate the trade conflict with China. The dispute with Beijing has roiled financial markets worldwide, including stocks, currencies and the global trade of commodities from soybeans to coal.

U.S. Trade Representative Robert Lighthizer released the following statement regarding the new tariffs:

“On Friday, in response to unfair Chinese practices, the United States began imposing tariffs of 25 percent on approximately $34 billion worth of Chinese imports. These tariffs will eventually cover up to $50 billion in Chinese imports as legal processes conclude. The products targeted by the tariffs are those that benefit from China’s industrial policy and forced technology transfer practices.China has since retaliated against the United States by imposing tariffs on $34 billion in U.S. exports to China, and threatening tariffs on another $16 billion. It did this without any international legal basis or justification.As a result of China’s retaliation and failure to change its practices, the President has ordered USTR to begin the process of imposing tariffs of 10 percent on an additional $200 billion of Chinese imports. This is an appropriate response under the authority of Section 301 to obtain the elimination of China’s harmful industrial policies. USTR will proceed with a transparent and comprehensive public notice and comment process prior to the imposition of final tariffs, as we have for previous tariffs.On August 14, 2017, President Trump instructed USTR to begin the Section 301 process. For many years, China has pursued abusive trading practices with regard to intellectual property and innovation. USTR conducted a thorough investigation over an 8-month period, including public hearings and submissions. In a detailed 200-page report, USTR found that China has been engaging in industrial policy which has resulted in the transfer and theft of intellectual property and technology to the detriment of our economy and the future of our workers and businesses.USTR’s Section 301 report found that Chinese policies and practices force U.S. innovators to hand over their technology and know-how as the price of doing business in China. China also uses non-economic means to obtain U.S. technology, such as using state-owned funds and companies to buy up American businesses and imposing burdensome intellectual property licensing requirements in China. USTR’s report also found that the Chinese government sponsors the outright theft of U.S. technology for commercial benefit. These practices are an existential threat to America’s most critical comparative advantage and the future of our economy: our intellectual property and technology.For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition. We have been very clear and detailed regarding the specific changes China should undertake. Unfortunately, China has not changed its behavior – behavior that puts the future of the U.S. economy at risk. Rather than address our legitimate concerns, China has begun to retaliate against U.S. products. There is no justification for such action.As in the past, the United States is willing to engage in efforts that could lead to a resolution of our concerns about China’s unfair trade practices and to China opening its market to U.S. goods and services. In the meantime, we will remain vigilant in defending the ability of our workers and businesses to compete on a fair and reciprocal basis.”

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