China decides to impose additional tariffs on 50 bln USD of U.S. imports - Xinhua

[LKJ86]

China decides to impose additional tariffs on 50 bln USD of U.S. imports
Source: Xinhua| 2018-06-16 03:07:52|Editor: Mu Xuequan

BEIJING, June 16 (Xinhua) -- China has unveiled a list of products from the United States that will be subject to additional tariffs.

Approved by the State Council, the Customs Tariff Commission of the State Council has decided to impose additional duty of 25 percent on 659 items of U.S. products worth about 50 billion U.S. dollars.

Additional tariffs for 545 items worth about 34 billion U.S. dollars, including agricultural products, vehicles and aquatic products, will be effective from July 6, 2018, according to a statement of the commission.

The implementation date for imposing additional tariffs on the rest of the items will be announced later.

The decision has been made in line with relevant stipulations of the Foreign Trade Law of China and the Regulations of the People's Republic of China on Import and Export Duties, as well as the fundamental principles of international laws, said the statement

Source:http://www.xinhuanet.com/english/2018-06/16/c_137257106.htm

 

[beijingwalker]

Tit for tat

 

[Mrc]

Great move

 

[The SC]

Tit for tat

That what I was going to say.. $50 billion for $50 billion.. but I am not sure of the outcome.. taking into account that the US dollar is still king of world trade.. the US can always compensate through it.. what are your thoughts about this?

 

[bolo]

That what I was going to say.. $50 billion for $50 billion.. but I am not sure of the outcome.. taking into account that the US dollar is still king of world trade.. the US can always compensate through it.. what are your thoughts about this?

Trading one punch for one punch is almost pointless. China should have slapped 100 billion tariffs. But that would upset the Chinese elites who are very pro US.

 

[MrSato1]

Trading one punch for one punch is almost pointless. China should have slapped 100 billion tariffs. But that would upset the Chinese elites who are very pro US.

Chinese elites are not pro Us. They are just trying to not end up like the USSR, the linger they can keep away a conflict with the Us, the stronger their cards. The sooner it happens the better for the US. Sun tsu, never attact a dragon. Avoid the enemies where they are strong and attack where they are weak. Tit for tat is Defensive but not escalation.

 

[gambit]

Here is the deal...

- Do not quote Sun Tzu in this situation. Looks stupid.

- Do not make predictions. For all the yrs in this forum, there have been countless versions of "All <country name> has to do is <action> and the US will <disaster>." And ALL of them were wrong. Everything from oil to currency to war. People said that Venezuela will be a threat to the US. Look at Venezuela now. Same with Cuba and Iran. Same with oil. We got people who can barely balance a checkbook yet made pronouncements about global trade and international finance.

- Stay out of US politics. No one in this forum anticipated the Trump presidency. Believe it or not, dictatorships are more predictable than the US as there is a minor regime change every two yrs in the US.

- Stay out of US economy. The current unemployment statistic is slightly lower than %4, which means full employment. The US does have manufacturing, service, technology, and everything in-between going full blast.

Bottom line is that no one knows where/how the US will end up. The best minds in the media ended up with eggs on their faces. So can yours...

 

[大汉奸柳传志]

Bottom line is that no one knows where/how the US will end up.

All western empires fall in the end with no exception, even the mighty Roman Empire fell. They were never built to last.

The USA.. albeit once being a great nation,can never hold a candle to Rome...

 

[gambit]

All western empires fall in the end with no exception, even the mighty Roman Empire fell. They were never built to last.

The USA.. albeit once being a great nation,can never hold a candle to Rome...

Do you really think that the US uses ancient Rome as inspiration? If any country that is attached to the past, it is more your China than US.

My point was that since people on this forum -- over the many yrs -- have been CONTINUOUSLY wrong about US over many issues, am giving a warning not to make any more embarrassing 'predictions' about the current trade tensions. Else the predictors will end up with more eggs on their faces. Just admit to yourselves that ultimately, none of you know what you are talking about when it comes to US.

 

[bolo]

Do you really think that the US uses ancient Rome as inspiration? If any country that is attached to the past, it is more your China than US.

My point was that since people on this forum -- over the many yrs -- have been CONTINUOUSLY wrong about US over many issues, am giving a warning not to make any more embarrassing 'predictions' about the current trade tensions. Else the predictors will end up with more eggs on their faces. Just admit to yourselves that ultimately, none of you know what you are talking about when it comes to US.

Like many American experts with MBAs and PHDs from ivy league schools that also failed to predict the crash of China and cpc over for 40 years. More eggs in their faces.
Also there were many Pakistan defense professionals who have been wrong about almost everything concerning China and the world. Dont judge.
At the end this is a forum and people will post almost anything, right or wrong.

 

[gambit]

Like many American experts with MBAs and PHDs from ivy league schools that also failed to predict the crash of China and cpc over for 40 years. More eggs in their faces.
Also there were many Pakistan defense professionals who have been wrong about almost everything concerning China and the world. Dont judge.
At the end this is a forum and people will post almost anything, right or wrong.

This is not about people outside this forum with MBAs and Ph.Ds. But actually, you reinforced my point. If people outside this forum who has MBAs and Ph.Ds can be so wrong about what they predicted, what make people inside this forum can be so confident about what they predicted?

 

[Kiss_of_the_Dragon]

Do you really think that the US uses ancient Rome as inspiration? If any country that is attached to the past, it is more your China than US.

My point was that since people on this forum -- over the many yrs -- have been CONTINUOUSLY wrong about US over many issues, am giving a warning not to make any more embarrassing 'predictions' about the current trade tensions. Else the predictors will end up with more eggs on their faces. Just admit to yourselves that ultimately, none of you know what you are talking about when it comes to US.

US do not use ancient Rome as inspiration but Xiongnu, what US is doing today is not different of what Xiongnu did thousand years ago with Han dynasty, they kept violated our frontiers with pillage and hurt our people and keep demanding concession from Han because of their military superiority...they will end up with same fate as Xiongnu one day.

 

[gambit]

US do not use ancient Rome as inspiration but Xiongnu, what US is doing today is not different of what Xiongnu did thousand years ago with Han dynasty, they kept violated our frontiers with pillage and hurt our people and keep demanding concession from Han because of their military superiority...they will end up with same fate as Xiongnu one day.

To 'use' in this context means awareness. I doubt that the US Founders cared who/what/where Xiongnu was to take that as an example for later generations to emulate.

In order to make valid any comparison to past countries or empires or kingdoms, it is not enough to make comparisons at the macro levels. Details matters. The further back in time, the less valid the comparison except for rhetorical reasons, which ultimately are meaningless at the end.

Size is not a valid comparison to the context of what is an 'empire'. China is the same geographical size as the US, so does that make China an 'empire'?

Politically speaking, the ruling personality or class in an empire have no checks on their actions, but the US does have checks and balances that are active at every level of governance. Laws must be swift in their execution, but must be difficult and even inefficient in creation. The US process in creating a law is probably the most difficult of current legislative bodies in the world. Plus there are timed term limits for a president while for an emperor or king, the term limit is his lifespan.

In an empire, the first thing the emperor must do is to maintain controls over the people. In the US, we were Mao-ists before Mao came to life because Mao said that political power came from the barrel of the gun, and the US citizenry is well armed. But there is not even the need for that ultimate check because as foreigners have often noted, the US government is sensitive to the pressure of the American press, which ultimately rests upon the American citizenry.

So in examining the details, the US is further and further away to any comparison to past empires or kingdoms, making any prediction about a collapse of the US rhetorical and finally -- meaningless.

 

[大汉奸柳传志]

Do you really think that the US uses ancient Rome as inspiration? If any country that is attached to the past, it is more your China than US.

My point was that since people on this forum -- over the many yrs -- have been CONTINUOUSLY wrong about US over many issues, am giving a warning not to make any more embarrassing 'predictions' about the current trade tensions. Else the predictors will end up with more eggs on their faces. Just admit to yourselves that ultimately, none of you know what you are talking about when it comes to US.

Many Chinese including myself have predicted Trump's victory in 2016 when almost all Americans still believed it would be an easy win for Hillary.

There were even some Chinese economists who travelled to the US in late 1990s had predicted a "great financial crisis within a decade's time"

so yea... sometimes we know America better than American themselves

 

[gambit]

Many Chinese including myself have predicted Trump's victory in 2016 when almost all Americans still believed it would be an easy win for Hillary.

There were even some Chinese economists who travelled to the US in late 1990s had predicted a "great financial crisis within a decade's time"

so yea... sometimes we know America better than American themselves

No. Not in 2016. That is too short before the election. By that time, anyone can place any bet or make any prediction and he would have even chance of being correct.

None of you ever thought that someone like Trump could upset the status quo in US politics. But politics is not the only thing you guys were wrong. Take the economy. All of you were crowing about how China effectively controls US. Now it turned out we squeezed the nuts on one Chinese company and damn near collapsed it. What was all that prediction about oil? Do we need to continue on how many more things you were wrong about US?

So before you continues to make predictions about US, start looking at your own China. You were wrong about US then, maybe you will be wrong about yourself soon.