REUTERS/ Hyungwon Kang
The US has published a list of $50 billion in Chinese imports set to be targeted by 25% duties. This measure was foreseen in a memorandum entitled “Fight against Chinese economic aggression” and signed by US President Donald Trump. The list includes such Chinese products as cars, motorbikes, rail transport, machines, medical and other equipment, aircraft parts, satellites – in total 1,3 thousand items.
According to the US Department of Commerce, “the embargo list is based on a wide interdepartmental analysis and it aims those Chinese items, which profit due to industrial plans of China.” The taken measures, also indicated in the list, “will softly influence U.S. economy”.
In turn, the Chinese Ministry of Commerce has affirmed its readiness to impose tariffs on $50 billion worth of U.S. goods in response to proposed U.S. tariffs.
Since April 2, China has already brought in 15% – 25% tariffs for the range of American export items with worth $3 million.
On April, 4 the Chinese foreign ministry’s spokesperson Lu Kang said:
“Meanwhile, in accordance with the relevant stipulations of the Foreign Trade Law of the People’s Republic of China, we will take proportionate measures of the same intensity and scale on US products. These measures will be announced soon. We have the confidence and capability to counter any measure of trade protectionism taken by the United States.”
China’s deputy finance minister has insisted that a trade war would be a “lose-lose” situation. But Beijing has made it clear that it won’t back down.
Go for it guys! The rest of the world can only win.
Yay cheap Chinese goods dumped everywhere else….hey wait a minute!
Fuck this war, this shit bleed everyone not just this two country alone, stop this kind war please
Good the extra capacities would be exported to the rest of the world cheaply .
China is major trading partners with the rest of the world in real goods that matters not bombs, guns and planes .
So the American consumers have to pay more that is all .. they still have to import.
Trump wish to close the gap of US50 billions but instead will increase the trade deficit as American firms would not be able to compete with others in China anymore. So most American cars will tumble in sales.
GM survived because of China’s markets … now wonder if China will target them.
Unless your economy drastically outperforms that of another, in volume and trade, then never in history has a trade war delivered anything but economic ruin for both parties. And yet somehow somebody always gets the brilliant idea to start one from time to time.
Unless the country targeted is an economic midget in comparison. But then we’re not really talking about starting a trade war but the imposing of sanctions.
Trade war, where, I see nothing yet, but one thing you must not forget, I have deep respect for the Chines, but they have their sides as well as the Imperial banana republic have. There are things, that makes one wounder, tariffs is one thing, what and whom is benefiting, from lets say, take an harbor and make that piece of land to an Chines “territory” where Chines workers works on Chines workers reg. according to Chine rules, and cuts of the fact that this would be good for the locals, etc, to use of locals and the respective country’s rules regarding work, but somehow, even the local Gov. colludes and makes it impossible to do anything with it, they claim its because of globalism, we cant do anything about that, this comes from our own week and greedy corrupt Gov. yeah, when it follows/bends over, to the Chines claims of marked deals and control of it incl harbors. This is in fact taking away jobs, and that makes them able to undermine us, do you understand.
And so on. My hart don’t exactly bleeds for the Chines, nope, no more than for the equal rotten Yankikes, in the land of the meek and the lame.
I have my self lost everything because of just this, as American steel workers did, and do. You simply cant fight slave labor, you cant fight against an country/regime, whom can run without rules, pumps crap en mass, but this over production incl subsidizing eventually killed the west, with the good help of those that made all this possible and I dont blame the Chines for taking the opportunity, what I blame is those drooling idiots making this possible thru uh….. deals. What kind of shit heads have we elected, do you people really get it, we are been treated like shit, and that by our own.
Until this is leveled out, e will never have an genuine marked nor productions, forget that, and again I am with trump on this, because, eventually this will hurt both, so for now we must endure some huffing and puffing, but war, no, they may be a lot, but not that crazy, I hope.
peace
The US is already backing down, calling for talks. All it took was for China to put a tariff on soybeans. China used to be a major producer of soybeans, but the US subsidizes American growers to buy votes. American subsidies means that no country in the world can compete on price, so China being a capitalist country buys the cheapest soybeans. Of course it’s illegal under WTO rules for America to subsidize and dump produce on the global market, but the corporate socialist states of America don’t care. But they do care about losing votes, so now Donny Chimpo has 3 choices, 1 He carries on dragging his knuckles and the voters throw him out.
2 He increases the subsidies, so American soybeans are still cheaper than those produced by non corporate socialist countries.
3 He cries and begs Chairman Xi to forgive him.
It looks like 3 is what Donny is opting for, he will need lots of tissues, and knee pads for this mission.