Trump Announces 25% Tariff on $50Bln in Chinese Imports

[BHarwana]

US President Donald Trump specified that the new tariffs imposed on Chinese goods will be applied to goods "that contain industrially significant technologies" and were introduced in response to the alleged theft of intellectual property.

"In light of China's theft of intellectual property and technology and its other unfair trade practices, the United States will implement a 25 percent tariff on $50 billion of goods from China that contain industrially significant technologies," US President Donald Trump said in a statement on Friday.

The US president warned that Washington would impose additional measures if the Chinese part retaliated.

"If China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products," his administration would impose new tariffs in response," he stated.

Trump explained his decision by "unfair trade" between the countries.

"My great friendship with President Xi of China and our country's relationship with China are both very important to me. Trade between our nations, however, has been very unfair, for a very long time. This situation is no longer sustainable. China has, for example, long been engaging in several unfair practices related to the acquisition of American intellectual property and technology."

The US president has first mentioned the introduction of tariffs in March and has been mulling their introduction since then: trade delegations from both countries were negotiating the issue and seemed to achieve certain progress in May, after Beijing agreed to cut tariffs on American cars and Washington promised support for ZTE, affected most by the US sanctions.





https://sputniknews.com/business/201806151065438244-trump-us-china-tariffs/

 

[atan651]

Trump is an expert in speaking with a forked tongue!

 

[Viva_Viet]

Hundred million CNese workers losing jobs like we predicted . Deng's Azz licking policy cant save CN. US will beat both EU-CN as easily as she beat Nazi-JP in WW 2

VN is the only winner in war against US

 

[saltyashell]

Wow , in one stroke reduced trade deficit with china by 50 b $ , since a 25 % tarriff makes the chinese non competitive.
But lets see whether the tarriffs remain or are a negotiating tactic.

 

[Viva_Viet]

Wow , in one stroke reduced trade deficit with china by 50 b $ , since a 25 % tarriff makes the chinese non competitive.
But lets see whether the tarriffs remain or are a negotiating tactic.

No negotiating bro. US arm dealer want to sell weapons, if no war wt CN, they they will go broke.

So, war is just unavoidable and US know she will win easily cos PLA suck, coward and corrupted.

 

[aman_rai]

Trump will leave USA alone...

 

[BHarwana]

I don't think USA will be able to take Chinese retaliation and It will effect USA economy greatly and Jobs in USA will be lost. Bad decision by USA

 

[bolo]

I don't think USA will be able to take Chinese retaliation and It will effect USA economy greatly and Jobs in USA will be lost. Bad decision by USA

The Chinese elites are with US. Common people have very little say.

 

[saltyashell]

No negotiating bro. US arm dealer want to sell weapons, if no war wt CN, they they will go broke.

So, war is just unavoidable and US know she will win easily cos PLA suck, coward and corrupted.

No usa china war unless due to some great misunderstanding.
Trump is a business man who knows how to push . His aim is to reduce the us trade imbalance. China knows this , the whole world knows this.
But is he a good economist ? The way to reduce a trade deficit is by either reducing imports or increasing exports . By shutting the door to cheap chinese imports , the manufacturing industry in us gets effected by higher input costs. So its best to increase tarrifs on finished goods like toys or electronic items , not basic material.
Its a tough position to be in. Will the us consumer pay more for locally produced stuff ? And if the basic materials like steel , Al are produced by higher automation in the us to keep manpower costs down , increasing gainfull employment becomes difficult.

 

[BHarwana]

China responded within minutes saying they would impose tariff measures 'of the same scale and strength'.

Beijing responded within minutes to Washington's announcement, saying they would impose tariff measures "of the same scale and strength".

"China is unwilling to have a trade war, but the Chinese side has no choice but to strongly oppose this, due to the United States' myopic behaviour that will harm both parties," the commerce ministry website said.

Earlier on Friday, Chinese Foreign Minister spokesman Geng Shuang had told journalists that China would fight back.

"If the US side adopts unilateral measures of protectionism and damages China's interests, then we will respond right away, and take necessary measures to resolutely safeguard our own legitimate rights and interests," Geng said.



https://www.aljazeera.com/news/2018/06/trump-slaps-tariffs-50bn-chinese-imports-180615121844807.html

 

[Viva_Viet]

No usa china war unless due to some great misunderstanding.
Trump is a business man who knows how to push . His aim is to reduce the us trade imbalance. China knows this , the whole world knows this.
But is he a good economist ? The way to reduce a trade deficit is by either reducing imports or increasing exports . By shutting the door to cheap chinese imports , the manufacturing industry in us gets effected by higher input costs. So its best to increase tarrifs on finished goods like toys or electronic items , not basic material.
Its a tough position to be in. Will the us consumer pay more for locally produced stuff ? And if the basic materials like steel , Al are produced by higher automation in the us to keep manpower costs down , increasing gainfull employment becomes difficult.

Okay, then how US arm dealers will survive if no war against CN ?? Many of them (Remington, COlt )going broke now

 

[Jackdaws]

Good move by Trump. China has never developed any IP of its own.

 

[delta2]

Yes, yes. President Trump is a very smart and a capable businessman who went bankrupt trying to run a CASINO!!!!!

 

[Kiss_of_the_Dragon]

Hundred million CNese workers losing jobs like we predicted . Deng's Azz licking policy cant save CN. US will beat both EU-CN as easily as she beat Nazi-JP in WW 2

VN is the only winner in war against US

You Viet had made prediction for over millennium about China and alway's wrong, it's just a beginning, it's too soon to claim that US will have the last laugh.

 

[Viva_Viet]

You Viet had made prediction for over millennium about China and alway's wrong, it's just a beginning, it's too soon to claim that US will have the last laugh.

Too soon ?? Oh, actually its too late for CN already. US will try all ways to turn CN to the next Syria, so she can sell billion USD weapons to " CN ressistant". Imagine when " CN ressistant" keep buying US weapon to keep fighting against King XI evil ...