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The Trump administration has imposed new 25% tariffs to 818 Chinese imports worth $34 billion. This move is the first stage in levies threatened by the US on a total of $450 billion worth of Chinese goods.
The tariffs on Chinese import goods took effect on Friday at 04:00 GMT.
“On July 6, the US began to impose 25 percent tariffs on $34 billion worth of Chinese imports. The US has breached WTO trade rules and launched the largest trade war in economic history to date,” China’s Commerce Ministry commented on the move in a statement.
“China promised not to fight the first shot, but in order to defend the core interests of the country and the inetersts of the people, we are forced to take necessary countermeasures“
The Chinese side did not clarify what those countermeasures would entail. However, according to reports, China will respond with new border taxes on an equal amount of US goods
Trump has been given his orders to attack Iran, and needs China to pay for it.
Or maybe something more fiendish, he’s using these tariffs both to bring back some jobs to the US AND to pressure the EU and China to throw Iran under the bus.
‘You don’t want any tariffs? Well, you know what to do then.’
In the end the EU and China need trade with the US a hell of a lot more then they do trade with Iran.
China should take the opposite tack, and tax all exports to the USA. That way American companies operating in China will also be forced to pay the tax. If the tax is kept low, China will still be the preferred source, and it will force American consumers to pay tax to China.
You australians are fallen on head, but the opposite tack in our normal world is impossible. :DD
He is very correct. It will not be a tax. It will be any FX requirement for a deposit, if they deal in usd, or something simmilar.
The economy dies not know such commie ideas. Btw., India, Vietnam (an taiwn, south korea, malaysia, etc. )gladly welcome western firms leaving china.
this idea is dead.
The world will cut the chinese expansion. Je suis machiavelli!
After decades of criticizing the decadence of the westerners… suddenly, the Russians embrace consumerism propaganda :)
Trade wars know only losers.. Us might win here, China there, US will lose e.g. Harley to Europe and China something somewhere. The trade wars end up as a shoting war, see ww2, Japan versusUSA. First boycot of Japan and then Japan retaliated.
America is Taking Down itself… it must be on Purpose…China is investing to get 600 to 800 Million Chinese Consumers… so in the near future they will be able to Boycot ANY Country in the World Soon…if they want a ban on US-Products they just ask their people to stop buying them…
The Red Chinese leaders have shit for brains.
Everyone’s got More Brains than You….
This extremely low level conflict has been going on ever since the Communists took over mainland China in the late 1940’s, nothing new or of particular alarm here yet, South Front.
Go China.