Posted on 04/04/2018 8:10:58 AM PDT by ChicagoConservative27
BEIJING (AP) — China on Wednesday issued a $50 billion list of U.S. goods including soybeans and small aircraft for possible tariff hikes in an escalating technology dispute with Washington that companies worry could set back the global economic recovery.
The country’s tax agency gave no date for the 25 percent increase to take effect and said that will depend on what President Donald Trump does about U.S. plans to raise duties on a similar amount of Chinese goods.
Beijing’s list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American complaints that it pressures foreign companies to hand over technology.
The clash reflects the tension between Trump’s promises to narrow a U.S. trade deficit with China that stood at $375.2 billion last year and the ruling Communist Party’s development ambitions. Regulators use access to China’s vast market as leverage to press foreign automakers and other companies to help create or improve industries and technology.
A list the U.S. issued Tuesday of products subject to tariff hikes included aerospace, telecoms and machinery, striking at high-tech industries seen by China’s leaders as the key to its economic future.
China said it would immediately challenge the U.S. move in the World Trade Organization.
“It must be said, we have been forced into taking this action,” a deputy commerce minister, Wang Shouwen, said at a news conference. “Our action is restrained.”
(Excerpt) Read more at breitbart.com ...
In the words of John Kerry(who served in Viet Nam) I say Bring It On!
Yawn.
So what. They tariff basic commodities like ag products. That means they have to create domestic industries to get those - where’s the farm land they plan to do that with?
We tariff manufactured goods which means we re-start our own manufacturing plants which were making things long before the ChiCom state expropriated the business.
Who wins in a game like that?
China putting a tariff on goods from Chinese companies in the US ? LOL
china really doesn’t want to play this game. Maybe we should take another look at “most favored nation” status.
In the old days our government was funded by tariffs and sin taxes. Government was smaller and there was no income tax. Prices would go up but we would have more money to pay for these things.
The fact there are tariffs does ot necessarily mean the sale is killed
It means customers pay more. It might cause some products to be uncompetitive.
You didn’t need any government when everyone was a self sufficient farmer. We should be smarter now. A knowledgable person would know that governments get in the way.
Going to hit a lot of rural red states hard.
With a huge trade imbalance it is impossible for China to list more goods than Trump.
I’m quite sure POTUS anticipated this, set up trade deals with other countries to bypass China if necessary. They think they’re still dealing with a politician.
The country’s tax agency gave no date for the 25 percent increase to take effect...
...
Of course not. They know they’ll lose a trade war.
Trump’s putting pressure on them, so he’ll get a better deal for America.
Suddenly, the media says we need to be able to sell goods cheaply in China.
So if this escalates we pay a bit more for Chinese goods but they F’ing starve. China can’t win - they need to create millions of jobs each month just to keep the peasants from revolting
“where’s the farm land they plan to do that with?”
Rhodesia
We’ve been in a trade war with China for over a decade - this is the first time we suited up...
“Going to hit a lot of rural red states hard”
Really? China is the only customer out there? And sales to them will collapse because they can replace the goods with goods from....where? Argentina? Ukraine? The Punjab?
The ultimate result of China’s punitive tariff will be a small reduction in sales, if any. Trump’s tariff is protective as opposed to punitive: he is protecting domestic industries while they are merely trying to retaliate. They don’t HAVE the same domestic industries to match the American midwest.
Yeah. That IS true: the Chinese are trying to colonize Rhodesia and South Africa.
Kinda funny, right? Criticize Whitey for building up farms and production in colonialist states, then when they get terrorized out, move in and take over.
Kinda tells you what the criticism was actually all about in the first place, doesn’t it?
“We want what you have”
There will be some short term pain especially in the ag economy but your thought is right. Everything that gets made in China can get made here. It just costs a little more. If their people starve than they have to deal with a large populace uprising. When you have a commie nation where the few control the many you have to keep the many at least somewhat content or the few end up hanging from lampposts. We’re going to win this just because self preservation is first and foremost in the mind of a totalitarian state.
When you’re already $500 Billion DOWN, you can’t lose!— Donald J. Trump (@realDonaldTrump) April 4, 2018
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