America threatens China with $500 billion in US trade tariffs - page 2.

Herbys

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Quote from: First77 on July 06, 2018, 08:43:41 AM

As US tariffs on Chinese imports worth $34 billion kicked in on Friday, President Donald Trump said he would consider imposing additional levies on $500 billion in Chinese goods, should Beijing retaliate.Another $16 billion are expected to go into effect in two weeks and potentially another $500 billion, Trump told reporters aboard Air Force One on his way to Montana before the tariffs kicked in.First “34 (billion dollars), and then you have another 16 in two weeks and then as you know we have $200 billion in abeyance and then after the $200 billion we have $300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300,” Trump said, adding “It’s only on China.”

Hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods, Beijing retaliated with mirror measures against American imports. Chinese tariffs will reportedly target US products such as soybeans, seafood and crude oil. China warned that while it has promised not to "fire the first shot," it would now be forced to "counterattack" in order to defend its core interests. It has vowed to inform the World Trade Organization (WTO) and work with other countries to “jointly safeguard free trade and the multilateral system.”

https://www.rt.com/business

I think that this is not an option, to impose sanctions and measure strength, because this could affect the economy of the whole world.
The markets of countries can be closed for imports to support their producer, while the most vulnerable and serious economies will certainly suffer, and in the end, there may be an economic crisis all over the world (to the point of the recurrence of the recurrence soon).

audaciousbeing

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Quote from: First77 on July 06, 2018, 08:43:41 AM

As US tariffs on Chinese imports worth $34 billion kicked in on Friday, President Donald Trump said he would consider imposing additional levies on $500 billion in Chinese goods, should Beijing retaliate.Another $16 billion are expected to go into effect in two weeks and potentially another $500 billion, Trump told reporters aboard Air Force One on his way to Montana before the tariffs kicked in.First “34 (billion dollars), and then you have another 16 in two weeks and then as you know we have $200 billion in abeyance and then after the $200 billion we have $300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300,” Trump said, adding “It’s only on China.”

Hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods, Beijing retaliated with mirror measures against American imports. Chinese tariffs will reportedly target US products such as soybeans, seafood and crude oil. China warned that while it has promised not to "fire the first shot," it would now be forced to "counterattack" in order to defend its core interests. It has vowed to inform the World Trade Organization (WTO) and work with other countries to “jointly safeguard free trade and the multilateral system.”

https://www.rt.com/business

What I see here is show of strength from both sides as they all believe they are in the position of strength in all this thereby not backing down. I see the United States having the upper hand here while their Chinese counterpart is talking about reporting to WTO which I believe they already know what is going on and would act if they have any need to do anything. The fact is its beyond that and I don't see the United States backing down in all of this. All that is needed is just for them to consider those who will bear the brunt of their actions and what it would mean for the man earning decent wages and wanting to stay out of trouble. In all, let's just wait and see where this would end as none of them will stay in power forever.

First77

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Do it for America

dothebeats

legendary

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Cashback 15%

These two leaders seriously need to get on their heads, but then again America will have the greater advantage knowing that their imports don't even land on Chinese soil but mostly in other countries in the Southeast Asian region. China on the other hand needs America more on the said trading relationship. China depends on some American conglomerates to distribute their goods, and due to this, it may give the Chinese a hard time getting those products all over. What I am worried about are the consumer electronics that are mostly manufactured from China. It would somehow be a big blow on the tech industry but then again, it's not that severe yet.

Quote from: stimliall on July 06, 2018, 07:37:08 PM

Trump is a very far-sighted person who knows very well what China's industrial structure upgrade means to the United States.
The strategic intention of the United States is to suppress China’s industrial upgrading. This is also clear.

Trump wants to make America great again, so he just used one of the many advantages the Americans have over the Chinese, and this is clearly a nice play, I might say.

stimliall

newbie

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Trump is a very far-sighted person who knows very well what China's industrial structure upgrade means to the United States.
The strategic intention of the United States is to suppress China’s industrial upgrading. This is also clear.

Jamescur

newbie

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Standing in the US position may not be a simple trade war, but a suppression of China's development in high-end products. I think that some low-end products will not only increase taxes but also reduce taxes. This is a rational approach. Taxes will not be added to some low-end products for a simple trade surplus and deficit.

iagyei259

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In geopolitics one needs to take advantage of what he has in abundant when making a decision. America has nothing to lose if China decides not to cooperate. China has more to gain with trading with America than vice versa.

Hydrogen

legendary

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Merit: 1441

If the us china trade war happens in earnest, it will look like a messy divorce. Undecided

I'm wondering if we'll notice a fluctuation in the price of cheap goods from china listed on amazon? If weeks or months from now I look at my amazon wishlist and there isn't a noticeable difference in prices--maybe it won't be a big deal after all?

There could be some exaggeration as to how much the cost of goods will increase. Unless a business has a monopoly or heavily centralized market with a dominant marketshare there is a limit to how much the cost of tariffs can be passed on to consumers. While there is some negative commentary in the media, it is possible tariffs will be hiked and the damage to consumers will be negligible. Chinese enterprise could be forced to eat a substantial portion of tariff hikes.

It will be interesting to see what the effects are as I remember the cost of 2 liter bottles of soda at the store roughly doubling from $1 to $2 over the past 10 or so years which would seem to indicate near to 10% price inflation per year. Will we likely price hikes anywhere near approaching that? I wonder.

First77

member

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Merit: 32

As US tariffs on Chinese imports worth $34 billion kicked in on Friday, President Donald Trump said he would consider imposing additional levies on $500 billion in Chinese goods, should Beijing retaliate.Another $16 billion are expected to go into effect in two weeks and potentially another $500 billion, Trump told reporters aboard Air Force One on his way to Montana before the tariffs kicked in.First “34 (billion dollars), and then you have another 16 in two weeks and then as you know we have $200 billion in abeyance and then after the $200 billion we have $300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300,” Trump said, adding “It’s only on China.”

Hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods, Beijing retaliated with mirror measures against American imports. Chinese tariffs will reportedly target US products such as soybeans, seafood and crude oil. China warned that while it has promised not to "fire the first shot," it would now be forced to "counterattack" in order to defend its core interests. It has vowed to inform the World Trade Organization (WTO) and work with other countries to “jointly safeguard free trade and the multilateral system.”

https://www.rt.com/business

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