China slams U.S. threat to impose tariffs on $200 billion in imports

Share

President Trump is back on his warhorse called Tariffs, yesterday announcing he was considering the introduction of a 10-percent levy on Chinese goods worth US$200 billion.

Even if Americans don't buy these items directly, they could still feel the impact as USA companies raise their prices to help them pay for more expensive machines and industrial goods.

Trump cited China's imposition of charges on United States goods - which came in response to Washington's opening salvo in a mounting trade dispute - as "unacceptable".

"History shows that there are various other measures [China] could take to inflict pain on USA companies. including scaled up health, safety and tax checks, delaying the imports of goods, and boycotts", warned Louis Kuijs, the head of Asia economics at Oxford Economics.

"It's time, folks", Mr. Trump said. The list was created using a computer algorithm that chose products to hurt Chinese exporters while limiting the impact on U.S. buyers.

"If the US side becomes irrational and issues the list, China will have to adopt comprehensive measures in quantity and quality in order to make strong countermeasures", said the statement.

China, claiming the United States had "launched a trade war", retaliated nearly immediately, outlining its own tariffs on U.S. goods worth $50 billion.

"As China hawks, like Lighthizer and (Peter) Navarro, appear to have gained power within the Trump administration lately, an all-out trade war now seems more inevitable", said Yasunari Ueno, chief market analyst at Mizuho Securities in Japan. "China relationship", Mr. Navarro told reporters, citing the trade imbalance and China's campaign to acquire US technology "by any means necessary".

Shares of Boeing, which has been a proxy for trade-war tensions with China, fell 3.8 percent, weighing the most on the Dow.

According to the New York Times article, Trump promised Cook that he wouldn't place tariffs on iPhone assembled in China.

Russian Federation crush toothless Saudi Arabia 5-0
The tempo slowed and the atmosphere flattened after the restart, giving the whole thing the feel of a friendly match. Denis Cheryshev stepped off the bench with a superb brace, having replaced the injured Alan Dzagoev on 24 minutes.

"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.

The statement from Trump on Monday said that China's response showed that Beijing had no plans to address the underlying IP theft and required escalation by the US.

"'We still see follow-through weakness for the C-dollar".

"The United States will no longer be taken advantage of on trade by China and other countries in the world", he said.

Monday's tariff threat comes on top of $34 billion of Chinese goods subject to an extra 25 percent tariff effective July 6 in response to complaints Beijing steals or pressures companies to hand over technology.

Miffed by Pompeo's comments, China hit back saying that U.S. is making allegations to cover up its unilateral protectionist policies.

Apple reported more than $13 billion in sales in China in its most recent quarter, up 21% year-over-year.

"The financial markets are trying to gain a breather after last week, when there were many news events, but U.S".

Mr Trump said he asked trade advisers to identify additional Chinese products on which to impose new tariffs.

China responded with a 178.6 percent tariff on all imports of sorghum to the United States.

Share