Thursday, 20 September, 2018

Trump To Impose Additional $200 Billion Tariffs On Chinese Imports

China urges domestic firms to boost non American imports as trade war with US escalates Fabian Bimmer Reuters
Ray Hunter | 11 July, 2018, 08:09

The United States has listed $200 billion in Chinese export goods that could be hit with 10% tariffs as soon as September. "Moreover, they will blame any economic troubles on Trump and the United States". These levies target sectors key to China's industrial strategy, including computer hardware, railway equipment and aerospace manufacturing.

But Trump has said continuously that China has taken advantage of the USA economy, and he has vowed to hit almost all the country's products with tariffs, as much as $450 billion.

Tne Trump administration has announced additional China tariffs, say insiders.

"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said in a statement to CNN last week.

But China has rebuffed USA complaints and denied any harm was done to U.S. companies, and instead retaliated "without any worldwide legal basis or justification", Lighthizer said.

To argue their case against tariffs, consumer companies' playbook has included pointing to higher costs for everyday goods, while laying the blame at the president's feet - the American Apparel and Footwear Association has dubbed the tariffs the "Trump tax".

Wildfires are sweeping through California, burning homes and forcing evacuations
But the threat of a deluge raised the possibility of flooding at a stubborn blaze in the southwestern corner of the state. San Diego Gas and Electric says almost 1,700 customers are without power after the fire damaged the electric system.

Harborn said a European supplier of environmental technology believed it might have been awarded a Chinese government contract ahead of an American competitor due to its non-U.S. status.

"None of this has produced a dramatic change in other countries and has yielded further retaliation", Mr. Holleyman wrote in an e-mail. The official added that China has warned the US that future actions would be met with "economic attacks" on American markets. "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

Beijing has called on Chinese firms to substitute American imports with those from other countries in response to U.S. trade tariffs.

China immediately retaliated with duties on the same value of USA goods, including soybeans and cars. The latest announcement shows that fears of a full-blown trade war appear to be coming to fruition.

"Americans like cheap goods".

But whether any of this has any effect on the President is an open question: Mr. Trump's own Republican Party widely disagrees with his protectionist attitude on trade, but has failed to change his mind. "He just expects them to get in line behind whatever he wants".

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