Posted on 04/04/2018 8:45:34 AM PDT by Mariner
China announced additional tariffs on 106 U.S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world's biggest economies.
The effective start date for the new charges was not announced, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually.
The 25 percent levy on U.S. imports includes products such as soybeans, cars and whiskey, Beijing said. The full list can be found here.
The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports that he aims to target as part of a crackdown on what he deems as unfair trade practices.
Sectors covered by Trump's proposed tariffs include products used for robotics, information technology, communication technology and aerospace.
The trade showdown between Washington and Beijing has rattled investors and fueled market fears that the dispute could soon spiral into a full-blown trade war.
When asked whether global markets were now officially observing an all-out trade war, Goldman Sachs' chief global equity strategist, Peter Oppenheimer, told CNBC: "I think it is clearly a trade battle at the very least."
(Excerpt) Read more at cnbc.com ...
Once these things start you better make damn well sure you don't lose.
We have the next move, and it'll have to be 50% across the board tariff on every product and commodity from China, even if routed through another country.
That will conclusively end this nonsense posturing by China.
When you’re already $500 Billion DOWN, you can’t lose!— Donald J. Trump (@realDonaldTrump) April 4, 2018
Don’t forget Boeing as well....
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!— Donald J. Trump (@realDonaldTrump) April 4, 2018
“People say [Trump] would start a trade war. Well, no matter what The Donald does he can’t start a trade war because we’re already in a trade war with China. But only they are waging it.”
—Gordon Chang
I’m not the least little bit worried about this. PDJT is going to get the best deals he can for AMERICA. Of that I am sure.
We send China food & textiles (soybeans, grains, pork, leather & cotton) and import oil, machinery, cars, gold & gems, plastics and ‘organic’ chemicals, whatever they are.
I’d like to get a better deal on those imports. I’d think China would be hurting if we cut off food and textile supplies. They have almost a BILLION and a half people to feed and clothe and for some reason can’t be self-sufficient in those two critical areas?
*SHRUG*
Tariffs seems to go up faster than wildfire in China in a world that supposedly loves “Free Trade”. This kind of thing proves that free trade is BS, doesn’t it? China should not retaliate if they truly believed in free trade.
Well, a lot of their crap we don’t really need, and a lot can be made here again with newer technology reducing costs.
They’ve stolen so much of our intellectual property and have abused their workers so much, they sicken me. But Americans that let so much production move into China (and elsewhere) sicken me even more.
Way past time to stop importing all generic pharmaceuticals and medications from China. That would be a HUGE positive for US patients. Anyone like to guess what fillers are in medications from China?? Ask your pharmacist if your medications come from China. I did and said “no thank you; not ever! And, I told them to add that to my info. No meds from China for me.
So you didn’t know your medications were manufactured in China? Surprise, surprise!
We will win this one.
The leaders of the Communist Party have to run everything in China.
They are constantly afraid.
We should cut them off 100% now. They are like heroine dealers and we are dumping our money into their hands.
There are so many empty big box stores in America that could be turned into manufacturing plants...
How could I go on if Harbor Freight couldn’t provide questionable quality stuff at joke prices?
This will cause massive inflation in the Chinese soy and pork markets.
China consumes something like 100 million metric tons of soybean, mostly for feedstocks for their pork production. China grows and produces about 14 million metric tons, mostly for internal human food consumption.
Brazil and Argentina are major exporters, as is the USA. I believe we ship in the area of 35 million metric tons.
If Argentina and Brazil are smart, they will raise their prices of exported soybean to approach the 25% tariff price handed to the USA.
China cannot afford this price increase. Pure and simple.
OH nos, I was just going to buy a Chinese car! DANG IT! /s
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