Trump says China could face more than $500 billion in US tariffs

[LKJ86]

China activates countermeasures after U.S. tariffs take effect
Source: Xinhua| 2018-07-06 17:42:22|Editor: Lu Hui

BEIJING, July 6 (Xinhua) -- China levied countermeasure tariffs on select U.S. imports at 12:01 p.m. Beijing time Friday in response to the new U.S. tariffs, according to the General Administration of Customs.

This came after the United States imposed additional tariffs of 25 percent on Chinese goods worth 34 billion U.S. dollars on Friday, with which Chinese Commerce Ministry said the United States has ignited the largest trade war in economic history.

The Chinese side, having vowed not to fire the first shot, was forced to stage counter-attacks to protect the core national interests and interests of its people.

In response to the U.S. decision to impose additional tariffs on Chinese imports, the Customs Tariff Commission of the State Council decided in mid-June that 25-percent additional tariffs for U.S. products worth about 34 billion dollars, including agricultural products, vehicles and aquatic products, will go into effect from July 6.

Source:http://www.xinhuanet.com/english/2018-07/06/c_137306223.htm

 

[Wine&Steak]

US's 500 billions @10% = China's 100 billions @ 50% , China still have room to take care of those 220 billions US investment in China.

If China starts confiscating American assets in China or starts collecting tax on products made AND sold in China, US still has a trump card. The Trillions of US Bonds, China holds come in play.

US can declare that any US company can come to US and claim their loss from China’s account. Voila problem solved. Only China owned US bonds get debited. There is a reason when Trump says he has all the trump cards in this trade war

 

[nang2]

If China starts confiscating American assets in China or starts collecting tax on products made AND sold in China, US still has a trump card. The Trillions of US Bonds, China holds come in play.

US can declare that any US company can come to US and claim their loss from China’s account. Voila problem solved. Only China owned US bonds get debited. There is a reason when Trump says he has all the trump cards in this trade war

The real reason Trump says he has all the trump cards in this trade war is because it is not he who pays for it. Any businessman knows if he gets all the benefits when someone else pays for the cost, it is like a dream come true.

 

[hoangsa74]

And trading with China is also a privilege. No country in the world have a workforce with IQ 105, disciplined and quality better even than German or Swiss, but as cheap. Without China, no country, again, no country in the world can supply such quality but affordable products. North Vietnam and North Korea are the only two remaining areas in the world with cheap, but high IQ and relatively disciplined workforce, but they are too small and lack many necessary infrastructure to replace even a small part of China export.

Without China, 95% world population would not have access to Internet, mobiphone, TV and things like this.

Just wait and see who will have the last laugh.

What privilege? LOL. you must be a viet konk that's why you believe that if you incur an annual trade deficit with china it will make your country "richer". LOL at viet konk economics

Let me reverse the role and say that every year china is having a trade deficit of $300 billion usd with the U.S, meaning china is giving American $300 billion usd, does that mean china is making a "profit"? Lol at Chinese economics, Chinese physics.

The point of international trade is have a trade surplus, not a trade DEFICIT. lol at Chinese economics (and physics). according to Chinese economics, having a trade deficit is better than a trade surplus

I repeat again, there is no market out there that can give china a trade surplus of $300 billion usd other than the U.S. If you can name one, let us know.

I repeat again, Trade with America is a privilege because it is the only market in the world that can give china a trade surplus of $300 billion a year, yes trade surplus, not export of $300 billion but trade surplus of $300. Now china wants to challenge the U.S in the world order then the U.S have no choice but to give this $300 billion dollars to south korea and japan

 

[nang2]

What privilege? LOL. you must be a viet konk that's why you believe that if you incur an annual trade deficit with china it will make your country "richer". LOL at viet konk economics

Let me reverse the role and say that every year china is having a trade deficit of $300 billion usd with the U.S, meaning china is giving American $300 billion usd, does that mean china is making a "profit"? Lol at Chinese economics, Chinese physics.

The point of international trade is have a trade surplus, not a trade DEFICIT. lol at Chinese economics (and physics). according to Chinese economics, having a trade deficit is better than a trade surplus

I repeat again, there is no market out there that can give china a trade surplus of $300 billion usd other than the U.S. If you can name one, let us know.

I repeat again, Trade with America is a privilege because it is the only market in the world that can give china a trade surplus of $300 billion a year, yes trade surplus, not export of $300 billion but trade surplus of $300. Now china wants to challenge the U.S in the world order then the U.S have no choice but to give this $300 billion dollars to south korea and japan

Trading is never a privilege. Only politicians like to make it so in order to make themselves feel important. Trading is nothing but two parties exchange goods and services for the sole benefit of themselves and with mutual consent. It is not charity. It is not forced. Americans trade with Chinese NOT for Chinese but for Americans themselves. Same is true for Chinese. If Americans do not like to trade with Chinese, then trading shall cease due to the lack of mutual consent. The problem with the recent event is that it is Trump that makes the decision, instead of American businessmen who are actually involved in the trade. It is no longer a trade. It is forced disruption of trade.

 

[pher]

The US is a rich country. She will withstand a total loss of China as market and production base. You are an important player but replaceable by other countries.


Look at US sanction on Iran! Once the US places sanction on the country, nearly all countries on this planet including the Chinese have to follow. There are more examples. Not tariffs, the US have the most powerful weapon at hand if implemented will bring China economy into a total disaster: the dollar.

China external trades can come to a standstill should the US forbid the use of US dollar in China.

Since when China follow US on Iran issues? you piece of shit should get permanent ban on spreading such lies coming out of your azz. should the US forbid the use of US dollar in China? let me tell you US don't dare to do that even if you lend them 100 balls, again what do I expect from the monkey-level IQ?

You parasite come here to cheer for US at a time when it is humiliating your host nation germany from left to right, is orange agent addictive or something ? This again proves you creatures have zero loyalty and as ungrateful and shameless as usual.

 

[Viet]

Since when China follow US on Iran issues? you piece of shit should get permanent ban on spreading such lies coming out of your azz. should the US forbid the use of US dollar in China? let me tell you US don't dare to do that even if you lend them 100 balls, again what do I expect from the monkey-level IQ?

You parasite come here to cheer for US at a time when it is humiliating your host nation germany from left to right, is orange agent additive or something ? This again proves you creatures have zero loyalty and as ungrateful and shameless as usual.

Boy, look at ZTE! The Chinese company violates US law by selling made in China telecom equipment to Iran. Well, death wish. Can China government do anything? Zero. You can encourage more Chinese companies to sell more stuffs to Iran.

Even just one percent or less US technology is found in Chinese product, the US can forbid the sale of the entire product. Yes the US can forbid the use of dollar in China. Welcome to the real world.

 

[jetray]

I’m actually amazed that America is in an economic war with the rest of the world and they are still standing. What is it about their economy that makes them so resilient?

dollar, whole world uses it.

America does not need to import anything. Only reason they do is bcos it is cheaper to import than to manufacture it locally as labor is expensive. Now labor is expensive bcos they are paid more than other parts of the world. That also means their population (along with dollar) have more purchasing capacity power.

A good example is cpu's intel or amd , which other country can manufacture it? If US decides to ban manufacture or export of these cpu's to outside world take a guess on what would happen.

simply put they have resources,technology , dollar and manpower to go alone. Prices might rise jobs may be lost but they will be recreated again.

In a war of attrition they will not lose and a war you dont need to win but just survive till the end.

 

[Solomon2]

Trump on Trade and Tariffs: ‘We’re Holding All the Cards’

by MICHELLE MOONS | 5 Jul 2018

President Donald Trump emphasized the importance of having support in negotiations – not “little ones sniping at your heels”– explaining that tariffs on countries that already levy tariffs on the U.S. will help the U.S. “make great deals.”

At one point in the speech, Trump countered claims that the U.S. would lose in a trade war, saying instead that the “war on trade was lost many years ago.”

“We are bringing back our wealth from foreign countries that have been ripping us off for years,” Trump said on trade policy. “We are bringing back our wealth from foreign countries.” “For too long we watched and we waited and we saw as other countries stole our jobs, cheated our workers, and gutted our industry. You go up to New England and you still see the remnants where they moved down to Mexico under NAFTA.” He called NAFTA one of the worst deals, said they are renegotiating it, and that he has a “feeling they’ll come along. We’ll see. And if they don’t we’ll actually do better.”

“The United States of America was the piggy bank that everybody else was robbing,” said Trump. “Our allies in many cases were worse than our enemies. We opened our country to their goods, but they put up massive barriers to keep our products and our goods the hell out of their country because they didn’t want that competition.”

“That’s not free trade, that’s stupid trade,” said Trump. “We don’t do that anymore. We have to have fair and reciprocal, that being the more important word, we need reciprocal. They charge a fifty percent tax, we charge a fifty percent tax. Then we say look, let’s bring it to nothing or I don’t care one way or the other, do whatever you want.”

Trump said he decided to put tariffs on countries that had been ripping the U.S. off for years, producing trade deficits for the U.S. and surpluses for America’s trading partners. He was met with calls from some politicians calling the new U.S. tariffs terrible.

The president described conversations where he would try to explain that the tariffs were part of his plan to “make great deals” and was still met with pleas to leave things the way they are.

“I say, no, no, we’ve got all the cards,” said Trump. “We’re the bank that everybody’s stealing from.” He mentioned the U.S. tariffs on $50 billion in Chinese goods and more on potentially another $200 billion in Chinese goods.

“Because China, and I have great respect for President Xi [Jinping], and for China … but they’ve been killing us. $507 billion dollars in trade deficits last year,” said Trump.

“The war on trade was lost many years ago,” argued Trump. “But now, we’re gonna win it because we have all the cards. But it’s always helpful when you don’t have the little ones sniping at your heels. Because it’s easier to negotiate when you have support.”

“We are in such a great position,” said Trump. “Other countries are calling us.”

He said that if the U.S. knocks down the trade deficit by just 25 percent, the U.S. picks up one point in GDP. “That’s three trillion dollars and that’s ten million jobs.” He recalled his predictions of increases in the GDP and now a current prediction by the Atlanta Fed that GDP could go to 4.8 percent. “Who knows,” he said, proclaiming that he does know it will be a lot better than it was under President Barack Obama.

“Now we’ve got something that’s a rocket ship,” said Trump who said that the economy was ready to tank if Democrats had been elected over him.

 

[pher]

Boy, look at ZTE! The Chinese company violates US law by selling made in China telecom equipment to Iran. Well, death wish. Can China government do anything? Zero. You can encourage more Chinese companies to sell more stuffs to Iran.

Even just one percent or less US technology is found in Chinese product, the US can forbid the sale of the entire product. Yes the US can forbid the use of dollar in China. Welcome to the real world.

what about ZTE? It is just one China company, and if it is going down, it will drag a lot of US suppliers down together for sure. Besides, ZTE hold tons of 5G patents. Unless US want to see goodbye to 5G, it will come back to ZTE as it is happening now. Can China government do anything? read the story of macro, China will respond to every US move as evidenced in this trade war.

This episode only served as an awakening call for all China companies, don't rely too much on US suppliers and market. That is why Huawei disbanded its US unit and stop its operation in that market, a smart move you imbecile will never figure it out.

Yes the US can forbid the use of dollar in China? Do you moron know why US invaded Iraq? just because it wanted to ditch US dollars in exporting oil rather than the other way around. Now it seems you only deserve to be rated sub-monkey IQ level. Thinking about at least one hour before trying to respond to my post next time.

 

[Viet]

what about ZTE? It is just one China company, and if it is going down, it will drag a lot of US suppliers down together for sure. Besides, ZTE hold tons of 5G patents. Unless US want to see goodbye to 5G, it will come back to ZTE as it is happening now. Can China government do anything? read the story of macro, China will respond to every US move as evidenced in this trade war.

This episode only served as an awakening call for all China companies, don't rely too much on US suppliers and market. That is why Huawei disbanded its US unit and stop its operation in that market, a smart move you imbecile will never figure it out.

Yes the US can forbid the use of dollar in China? Do you moron know why US invaded Iraq? just because it wanted to ditch US dollars in exporting oil rather than the other way around. Now it seems you only deserve to be rated sub-monkey IQ level. Thinking about at least one hour before trying to respond to my post next time.

You don’t know a monkey is always smarter than barking dog?

Zte has tons of 5g patents, man, can you list some so we can discuss why America is lost should a chinese company as Zte impose embargo?

Seriously speaking I want to know what China invented besides chopsticks, gunpowder and 8-dash-line.

 

[Mista]

I’m actually amazed that America is in an economic war with the rest of the world and they are still standing. What is it about their economy that makes them so resilient?

Brain drain from all over the world as well as flexible economy and culture.

 

[Śakra]

you're amazed too early. the war just started. you just cannot wait to declare the winner, can you?

Where am I declaring a winner? In any other country just the threat of multiple countries throwing tariffs on you would collapse one’s economy. America OTOH hasn’t had a real negative noticeable effect yet. That in itself is amazing.

 

[pher]

You don’t know a monkey is always smarter than barking dog?

Zte has tons of 5g patents, man, can you list some so we can discuss why America is lost should a chinese company as Zte impose embargo?

Seriously speaking I want to know what China invented besides chopsticks, gunpowder and 8-dash-line.

Let me tell you jungle creature what China capable of ? We invented compass and gunpowder so those barbarian europeans could sail thousands of miles to colonize you and your indian brother low lives, and with those looting from sucking your blood, they tried to educate themselves out of barbarian state again with China invention: paper and printing.

go to watch the discovery documentry "the ancient china technology" or the BBC latest "the silkroad", they come to the conclusion, although reluctantly, that all the west modern technology was rooted from China, be it shipbuilding, astrology, rocket or clock whatever.

again without China, you jungle creatures will still live a tribe life no better than laos. But don't worry we will terminate your miserable life soon like we did to huns ,mongols or turks, those slaughtering you-whoshipped westners at will in the past, hence come to the expression of "the whip of god" or " the peril of yellow"

 

[Kiss_of_the_Dragon]

If China starts confiscating American assets in China or starts collecting tax on products made AND sold in China, US still has a trump card. The Trillions of US Bonds, China holds come in play.

US can declare that any US company can come to US and claim their loss from China’s account. Voila problem solved. Only China owned US bonds get debited. There is a reason when Trump says he has all the trump cards in this trade war

China don't need to confiscate any of American assets in China, these companies will automatically feel the pain in China, don't forget in China we rule and we set the rule. If US can violate WTO's rule than China don't need to play by the rule.

As for the T bond, what prevent China by selling off this asset before escalating further the trade war. China and US are on the way for economical diversion, most likely China will go on it way to join other such Russia, Iran and other nations to set a new economic rule, form an economic block and new financial institutions. The world will be split into two economical block as during the cold war.