Crazy! Trump fires back at Beijing with threat of new tariffs on $200 billion in Chinese goods!

[UserUnknown2025]

AI/Machine learning can automate a lot of manufacturing in the future. China needs to be careful.

That’s why the made in China 2025 exists.

 

[Wine&Steak]

Really? What do you think China is doing when it sells U.S. bonds? It is buying U.S. dollars!

They can sell USD for Chinese Yuan, but then Yuan appreciates massively against USD, leaving the entire export economy of China in shambles. US & China are joined at the hip and US has the upper hand.

 

[Zsari]

Really? What do you think China is doing when it sells U.S. bonds? It is buying U.S. dollars!

Buying US dollars would be a good idea as a rise in dollar will offset the tariff.

 

[ckf]

AI/Machine learning can automate a lot of manufacturing in the future. China needs to be careful.

AI/Machine learning is a danger to Mankind according to Musk...Everyone needs to be careful
https://www.cnbc.com/2018/03/13/elon-musk-at-sxsw-a-i-is-more-dangerous-than-nuclear-weapons.html

 

[ckf]

Haha.
I use this forum as a substitute for the background noise of a tv .....

So you understand Indian double talk, junkyard dogs are deeply entranched and highly entertaining in this forum.

Isn't a country house relatively cheap in most part of the world's suburbs?

Singaporeans are lucky, Malaysia is so cheap. Our entire west coast are now insanely expensive (Similar to Singapore) + we pay exorbitant high annual property taxes for upkeep.

 

[Clutch]

UPDATE

China accuses Trump of 'blackmail' after new tariffs threat

AFPJune 19, 2018
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Beijing on Tuesday accused Donald Trump of “blackmail” and warned it would retaliate in kind after the US president threatened to impose fresh tariffs on Chinese goods, pushing the world's two biggest economies closer to a trade war.

Trump said on Monday he had asked the US Trade Representative to target $200 billion worth of imports for a 10 percent levy, citing China's “unacceptable” move to raise its own tariffs.

He added he would identify an extra $200 billion of goods — for a possible total of $450 billion, or most Chinese imports — “if China increases its tariffs yet again”.

“Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States,” Trump said in a statement.

ARTICLE CONTINUES AFTER AD
Last week, he announced 25 percent tariffs on $50 billion in Chinese imports, prompting Beijing to retaliate with matching duties on US goods.

The US leader warned Friday of “additional tariffs” should Beijing hit back with tit-for-tat measures.

“The trade relationship between the United States and China must be much more equitable,” he said in explaining his latest decision.

“I have an excellent relationship with President Xi (Jinping), and we will continue working together on many issues.

But the United States will no longer be taken advantage of on trade by China and other countries in the world.”

China's commerce ministry immediately responded by saying the US “practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed international society”.

“If the US acts irrationally and issues a list, China will have no choice but to take comprehensive measures of a corresponding number and quality and take strong, powerful countermeasures.”

The news hit stock markets in Asia, where Shanghai shed three percent in the morning, Hong Kong lost more than two percent and Tokyo was one percent lower.

Trump is moving forward with the measures after months of sometimes fraught shuttle diplomacy in which Chinese offers to purchase more American goods failed to assuage his grievances over a widening trade imbalance and China's aggressive industrial development policies.

China had offered to ramp up purchases of American goods by $70 billion to help cut its yawning trade surplus with the United States, whereas Trump had demanded a $200 billion deficit cut.

'Unacceptable'
The China trade offensive is only one side of Trump's multi-front battle with the United States' economic partners as he presses ahead with his protectionist “America First” agenda.

Since June 1, steel and aluminium imports from the European Union, Canada and Mexico have been hit with tariffs of 25 percent and 10 percent, respectively.

“This latest action by China clearly indicates its determination to keep the United States at a permanent and unfair disadvantage, which is reflected in our massive $376 billion trade imbalance in goods,” Trump said of China's retaliatory tariffs.

“This is unacceptable.” Two decades ago, China's economy was largely fuelled by exports, but it has made progress in rebalancing towards domestic investment and consumption since the global financial crisis erupted last decade — limiting the damage trade tariffs could inflict on Beijing.

Still, strong exports this year have lifted the economy, which is now showing signs of losing steam under the weight of Beijing's war on debt, launched to clean up financial risks and rein in borrowing-fuelled growth.

Initially, 545 US products valued at $34 billion will be targeted by China, mimicking the Trump administration's tariff rollout.

Beijing wants to “demonstrate that things will be done their way or not at all,” said Christopher Balding, an economics professor at Shenzhen's HSBC Business School, who believes Chinese policymakers prefer demonstrations of “power and control” over “technical policy rightness.”

“It is a game of chicken,” Balding said.

So far Beijing has targeted major American exports to China such as soybeans, which brought in $14 billion in sales last year, and are grown in states that supported Trump during the 2016 presidential election, as well as other politically important products.

Officials also drew up a second list of $16 billion in chemical and energy products to hit with new tariffs, though China did not announce a date for imposing them.

More American targets are likely to follow as soon as the Trump administration follows through with publishing an expanded tariff list.

 

[Mista]

Singaporeans are lucky, Malaysia is so cheap. Our entire west coast are now insanely expensive (Similar to Singapore) + we pay exorbitant high annual property taxes for upkeep.

Malaysian properties near the Singapore border aren't exactly cheap either. You have to go further if you want a cheap country house, which will be inconvenient. Most Singaporeans don't move to Malaysia for cheap housing (unless retirement or holiday home) because of the access to cheap public housing (HDB) here.

More than 80% of Singaporeans live in affordable HDBs built by the government. Here are the upcoming launches in August 2018:

https://www.srx.com.sg/hdb/bto/punggol-2812
https://www.srx.com.sg/hdb/bto/yishun-2822

You live in the Vancouver area? I don't think Singapore's property prices are as crazy as Vancouver's.

 

[my2cents]

Whether we like it or not US will keep pushing to demand more and more concession from China, US will certainly not limit itself to the tariff war but it will expand to other domain if China chose to sit idle. I'm pretty sure that China has made the calculation and simulation on the impact of escalading the trade war and how far China can to go. Now the interesting question is in the worst case scenario that both China and US stop trade to each other, will China survive or will US economy will collapse as well?.

US is right in demanding fair trade. How long will US allow their trade deficit to balloon with China??
US also benefited with lower inflation and cheaper products but at the cost of losing their manufacturing base.

China only have to understand that they prospered for this long with trade surplus with not only with US but rest of the world and it is time to give back.

 

[Viva_Viet]

US is right in demanding fair trade. How long will US allow their trade deficit to balloon with China??
US also benefited with lower inflation and cheaper products but at the cost of losing their manufacturing base.

China only have to understand that they prospered for this long with trade surplus with not only with US but rest of the world and it is time to give back.

Correct, CN must allow ppl to own guns like in USA, so US arm dealer can boost their gun export to CN to balace trade

 

[ckf]

Malaysian properties near the Singapore border aren't exactly cheap either. You have to go further if you want a cheap country house, which will be inconvenient. Most Singaporeans don't move to Malaysia for cheap housing (unless retirement or holiday home) because of the access to cheap public housing (HDB) here.

More than 80% of Singaporeans live in affordable HDBs built by the government. Here are the upcoming launches in August 2018:

https://www.srx.com.sg/hdb/bto/punggol-2812
https://www.srx.com.sg/hdb/bto/yishun-2822

You live in the Vancouver area? I don't think Singapore's property prices are as crazy as Vancouver's.

I forgot how big the subsidized housing market is in Singapore. You get cheap housing, fresh air and affordable maids, sound like paradise.

 

[Viva_Viet]

I forgot how big the subsidized housing market is in Singapore. You get cheap housing, fresh air and affordable maids, sound like paradise.

Thats tiny US's clown wont live in paradise forever. Soviet-Vietnam had plan to take control Malacca since 1979.

 

[Nan Yang]

US is right in demanding fair trade. How long will US allow their trade deficit to balloon with China??
US also benefited with lower inflation and cheaper products but at the cost of losing their manufacturing base.

China only have to understand that they prospered for this long with trade surplus with not only with US but rest of the world and it is time to give back.

This has nothing to do with fair trade. Looks more and more like US hardliners going for broke to break China. Even if it does not benefit US. To stop China rise before China takes over the world.

It's NOT about unfair trade.

 

[bolo]

This has nothing to do with fair trade. Looks more and more like US hardliners going for broke to break China. Even if it does not benefit US. To stop China rise before China takes over the world.

It's NOT about unfair trade.

China will fold after the 200 billion with 10% tariffs. I've always stated Chinese elites with ties to CPC are corrupt and pro US

 

[Kiss_of_the_Dragon]

US is right in demanding fair trade. How long will US allow their trade deficit to balloon with China??
US also benefited with lower inflation and cheaper products but at the cost of losing their manufacturing base.

China only have to understand that they prospered for this long with trade surplus with not only with US but rest of the world and it is time to give back.

What is your definition of fair trade? US trade deficit is not China's problem, no one twist American's arm to buy cheap "made in China" product instead of "made in USA", they don't want to do so not because they can't but because it will cost theme more. And by denying China investing in US with such ridiculous excuse as national security while itself is investing in China is considered as a fair trade?

US and western nations were trying to exploit cheap labor around the world and export their polluted industries while at the same time enjoy clean environment, lower inflation and cheaper products for their citizens. People around the world earn only few pennies with blood and sweat by working like as slaver labor when Americans enjoy a high living standard by doing nothing and they dare to claim that we steal their job?. No one will twist US's arm if they want to recall their manufacturing base abroad to settle back to USA such as Apple or Nike..

China own US nothing, not only we help US to lower their inflation and provide a good standard living to American people while ourself paid an heavy price for pollution industries, it's time that we move to cleaner and high tech industries...it's time that we should export the polluted industries to India while working on China 2025.

 

[ckf]

China will fold after the 200 billion with 10% tariffs. I've always stated Chinese elites with ties to CPC are corrupt and pro US

Wait till Trump block call centers, vaunted IT servicea in emergent markets will fold like an inflatable xxx dolls. Restriction on BPO has far greater impact on improving US jobs than trade. It doesn't hurt US allies, and targeted nations can't really retaliate through WTO or trade, that's a war that Trump can actually win.