White House to impose 25% tariff on $50bn worth of Chinese goods

The Guardian ^ | 2018-05-29

[TigerLikesRooster]

White House to impose 25% tariff on $50bn worth of Chinese goods

Aggressive step in an effort to reduce $337bn US trade deficit

Move comes at a sensitive time in US-China relations

The White House has taken aggressive new steps in its effort to reduce a $337bn trade deficit with China, announcing that it will impose a 25% tariff on $50bn of Chinese goods containing “industrially significant technology”.

“From now on, we expect trading relationships to be fair and to be reciprocal,” Donald Trump said in statement.

The threat of new tariffs comes despite an apparent US decision, enunciated by Treasury Secretary Steve Mnuchin last week, to put a threatened trade war “on hold” as talks with China continue.

Later this week, commerce secretary Wilbur Ross is due to visit China to start a second round of talks aimed at reducing trading imbalances between the world’s two largest economies into a trade war.

[TigerLikesRooster]

P!

[Eric in the Ozarks]

This situation is more the fault of American manufacturers.
I shopped for a dehumidifier at Wal Mart and found five recognizable American brand names. All made in China.

[JonPreston]

This situation is more the fault of American manufacturers.

True in one sense, but it's our trade deals/policy that enticed them to move.

[palmer]

This situation is more the fault of American manufacturers.

In many cases all that is left is the name and that has been sold to foreigners. Nothing American about them.

[ExTxMarine]

True in one sense, but it's our trade deals/policy that enticed them to move.

And our environmental policies, and our labor policies, and our tax policies, and our...I could go on and on, but the fact is that we got "FAT-CAT" lazy and decided to become a primarily consumer and service driven economy. Obama even said that we were no longer the producers of the world and our economy was going to be largely based on consumerism and service providers.

When this type of shift happens, the consumer becomes dependent on those countries that are willing to still be PRODUCERS. More importantly, this is a direct example of the stupid economics of Liberals - they want us all to spend our way to prosperity - IDIOTS!! They truly believe we can have a robust economy based on nothing more than buying services and buying products produced overseas - this is STUPID!

[ConservativeWarrior]

“True in one sense, but it’s our trade deals/policy that enticed them to move.”

---

That and bloated unions. No one should make $35/hour installing windshield wipers on an assembly line, then retire at 55 with a big fat pension.

[JonPreston]

The same kinds of people who gave us forced school busing, section 8 housing, multiculturalism and diversity looked toward China and envisioned a massive new market for America's now internationalist corporations. That vision is still years away but it is in the process of being created at the expense of American sovereignty and wealth.

We've been sold down the river.

[1Old Pro]

This situation is more the fault of American manufacturers. I shopped for a dehumidifier at Wal Mart and found five recognizable American brand names. All made in China.

They manufacturer in China because it's cheaper. Our union labor and massive amounts of regulations make it difficult to manufacture in the U.S. and we need to change that.

[EEGator]

So if you own a company, would you prefer 20% profits, or 2% profits?

[Eric in the Ozarks]

My company does OK without need of China.

[9YearLurker]

Not really dealing with the theft, espionage, lying and cheating, etc.

The simple fact is that tech is making localism, where practical, the more environmental, epidemiologically safer, more nationally secure, solution on many grounds

We should forget the idea that the Chinese are somehow going to become honest brokers—and remove the ways we wrongly incentivized globalization.

[TigerLikesRooster]

I agree that the idea of long-distance supply chain and dirt cheap labor in distant lands is losing its charm.

[Augie]

There’s never a shortage of people here who know what someone else is worth.

[SgtHooper]

We should not be buying their crap anyway.

[central_va]

Unions are a non factor and only represent 10% of the US manufacturing workforce.

[central_va]

Winning!

[central_va]

Unions are basically dead. Don’t blame them.

[central_va]

So if you own a company, would you prefer 20% profits, or 2% profits?

Dirt cheap coolie labor only can get you so far. It certainly doesn't get you a 18% greater profit.

[trebb]

Market hasn’t panicked...