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Money Trump administration announces $US200 billion in extra China tariffs

02:11  12 july  2018
02:11  12 july  2018 Source:   msn.com

Iron ore tumbles as tariff deadline looms

  Iron ore tumbles as tariff deadline looms The benchmark iron ore spot price tumbled to the lowest level since June 28 on Thursday. According to Metal Bulletin, the spot price for benchmark 62% fines tumbled 1.7% to $63.14 a tonne, coming within a whisker of hitting a seven-month low.

The Trump administration on Tuesday announced a list of tariffs on $ 200 billion in Chinese goods, making good on the president’s recent threats to escalate a Despite the president's threats, China implemented retaliatory tariffs on the U . S . shortly after the billion went into effect last week.

Updated July 11, 2018 10:55:15. The US has announced its plans to impose taxes on a further $ US 200 billion (0 billion ) worth of Chinese imports, in retaliation for China ’s retaliation to America’s first round of tariffs .

Donald Trump© AP Photo/Evan Vucci Donald Trump The US has announced its plans to impose taxes on a further $US200 billion ($270 billion) worth of Chinese imports, in retaliation for China's retaliation to America's first round of tariffs.

The office of US Trade Representative Robert Lighthizer has released a list of Chinese products, running to almost 200 pages, that will potentially be hit with a 10 per cent import tax as early as September.

This builds on 25 per cent tariffs on $US34 billion ($46 billion) worth of Chinese imports into the US that took effect at midnight on Friday, and carries out US President Donald Trump's threat to respond to any Chinese retaliation to those taxes.

The Australian dollar enters a holding pattern as trade uncertainty builds

  The Australian dollar enters a holding pattern as trade uncertainty builds The Australian dollar had a quiet session on Thursday as traders await the implementation of US tariffs on Chinese imports. As has been the case throughout the week, the Aussie's moves largely mimicked those seen in the offshore traded yuan, or CNH.

Trump administration announces $ US 200 billion in extra China - www.abc.net.au. The US announces plans to impose taxes on a further $ US 200 billion worth of Chinese imports, in retaliation for China 's retaliation to America's first round of tariffs .

The US announces plans to impose taxes on a further $ US 200 billion worth of Chinese imports, in retaliation for China 's retaliation to America's first round of tariffs .

Chinese authorities implemented tit-for-tat tariffs on key US exports into China, including some major agricultural products.

The US is planning to implement 25 per cent tariffs on a further $US16 billion ($22 billion) worth of Chinese imports within the next fortnight.

Mr Lighthizer said the products targeted by the tariffs are those that benefit from China's industrial policy and forced technology transfer.

"For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition," he said in a statement.

"We have been very clear and detailed regarding the specific changes China should undertake.

"Unfortunately, China has not changed its behaviour — behaviour that puts the future of the US economy at risk.

US ramps up its trade war with China, unveiling a $200 billion list of goods for new tariffs

  US ramps up its trade war with China, unveiling a $200 billion list of goods for new tariffs President Donald Trump's administration is nearing the release of a list of $US200 billion worth of Chinese exports to the US that could be subject to a new 10% tariffs.Load Error

A tariff on $ 200 billion worth of Chinese goods would be a massive escalation of Trump 's trade war with China . The Trump administration has released a gargantuan list of Chinese goods that will be subject to tariffs , kicking a burgeoning trade war into high gear.

The Trump administration said Tuesday that it plans put 10 percent tariffs on an additional $ 200 billion of China -made goods if trade disputes with China are not resolved. The Office of the U . S

"Rather than address our legitimate concerns, China has begun to retaliate against US products. There is no justification for such action."

However, Mr Lighthizer also opened the door again to negotiations with China before the latest round of tariffs take effect.

"As in the past, the United States is willing to engage in efforts that could lead to a resolution of our concerns about China's unfair trade practices and to China opening its market to US goods and services," he added.

"In the meantime, we will remain vigilant in defending the ability of our workers and businesses to compete on a fair and reciprocal basis."

The Office of the US Trade Representative is seeking submissions on the latest proposed tariffs and will conduct hearings in late August, making September the earliest possible implementation date for the new import taxes.

'Everyone loses in a trade war'

The new import imposts are likely to face stiff domestic opposition from many business groups, Democrats and some Republicans.

China Vows Fightback Against Trump’s Proposed $200 Billion Tariff Threat

  China Vows Fightback Against Trump’s Proposed $200 Billion Tariff Threat President Donald Trump is preparing to release a list of an additional $200 billion in Chinese products to be hit with tariffs, according to two people familiar with the matter.Beijing described the latest U.S. move as "totally unacceptable" bullying, and urged other countries to join China to protect free trade and multilateralism. China promised to lodge complaints at the World Trade Organization but didn’t detail what its retaliatory measures would be.

[IMG] The Trump administration on Tuesday announced a list of tariffs on $ 200 billion in Chinese goods, making good on the president’s recent 200 Billion in tariffs on China ! DO IT!"

Опубликовано: 18 июн. 2018 г. US President Donald Trump has announced fresh tariffs on Chinese goods, valued at 200 billion US dollars and enforced at a rate of 10 percent. Last Friday, the US announced tariffs on 50 billion US dollars' worth of imported goods from China .

Reuters quoted the Republican chairman of the Senate's Finance Committee, Orrin Hatch, saying it "appears reckless and is not a targeted approach".

The US Chamber of Commerce, a supporter of the President's tax cuts and deregulation moves, also slammed the new tariff proposals.

"Tariffs are taxes, plain and simple," a chamber spokeswoman told Reuters.

"Imposing taxes on another $200 billion worth of products will raise the costs of everyday goods for American families, farmers, ranchers, workers, and job creators.

"It will also result in retaliatory tariffs, further hurting American workers."

The fresh tariffs affect thousands of imports, including many chemicals, apparel, many domestic appliances, fruit and vegetables, tyres and many other common households and industrial goods.

US Studies Centre senior fellow Jared Mondschein said the reason so many goods are being targeted is because the US will be placing tariffs on about half its total imports from China.

"At this point, they're coming to the end of the line," he told ABC News.

"There are only so many exports that can be targeted."

China vows to fight back as the trade war escalates

  China vows to fight back as the trade war escalates It vowed to immediately file an additional lawsuit against the US to the World Trade Organisation.Following the introduction of reciprocal tariffs on $US34 billion of the others imports on Friday, the US, as promised, has announced a new list of 6,000 Chinese goods, totalling $US200 billion, that may be hit with additional 10% tariffs by the end of next month.

Washington imposed tariffs on billion of Chinese products on July 6, a move China countered with duties of its own. Farmers and US industries have been caught in the crossfire, and the Trump administration announced billion in aid to help farmers hurt by duties on crops such as

I thought Chuck Schumer was on board with tariffs against China due to their intellectual product theft, controlled currency, and other numerous things. Virtually no economist agrees with it though and there's probably a billion pages of academic work on the subject that shows why it's not a good thing.

Mr Mondschein said that "ultimately everyone loses in a trade war", and the Trump administration would have been better off pursuing its case legally through the World Trade Organisation (WTO).

"The most perverse outcome in all this is the fact that China looks like it is going to have a very good WTO case against the United States," he said.

"This is despite the fact that China has, for many years, completely ignored and outright challenged WTO principles — whether it be on state-owned enterprises and unfair competition, or whether it be forced joint ventures when you invest in China, or flooding the market — there's so many different areas where the US has a legitimate case against China.

"But the US doing this trade war erodes that and also erodes the increasingly international, and previously coordinated, position with Europe and other allies that were against China."

Aussie dollar, shares slide on trade war escalation

The confirmation that the Trump administration would proceed with its threat to escalate tariffs in response to any Chinese trade retaliation was met with falls for shares and the Australian dollar.

Australia's benchmark ASX 200 share index was off 0.7 per cent by 11:11am (AEST), with most major sectors in the red.

The Australian dollar likewise took a hit on the escalating trade war between the nation's two major trading partners.

It was down around half a per cent against the US dollar at 74.13 US cents, with an even bigger fall against the Japanese yen.

AxiTrader's chief market strategist Greg McKenna said the local currency faces a steep wall of worries.

"The negatives [are] stacking up against the Aussie dollar — things like the trouble in emerging markets, an apparent slowing in the Chinese economy, domestic headwinds for households and potentially business, interest rate differentials, commodity prices, the performance of metals and mining shares versus the overall market, and the still unresolved trade war between the US and China," he wrote in a note.

"Markets remain too sanguine for my liking."

Testing the faith of Trump's supporters at the heart of the US-China trade war .
Donald Trump's trade war is on track to cost Iowa's farmers millions of dollars, but many are still backing him — for now. It's no coincidence that China's tariffs hit America's rural farming communities — they are the ones who voted Donald Trump into the White House.

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