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Offbeat Trump’s Tariff Barrage Pushes China Fight to Point of No Return

16:06  11 july  2018
16:06  11 july  2018 Source:   bloomberg.com

Auto Makers in the U.S. Brace for Additional Tariff From China

  Auto Makers in the U.S. Brace for Additional Tariff From China Amid escalating trade tensions, Beijing plans to slap an extra 25% tariff on U.S. auto imports this week. Ford and Tesla are among the auto makers that stand to be affected the most.Ford Motor Co. and Tesla Inc., as well as Germany’s BMW AG and Mercedes-Benz maker Daimler AG—which build premium sport-utility vehicles in the U.S. and ship them to China—stand to suffer the most. They will be forced to charge consumers more, or absorb the added costs, as their rivals take advantage of the reduced tariffs to lower prices.

U. S . President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down. By Aug. 30, as the U. S . nears Yet matching the latest U. S . barrage would force China to either levy much higher tariffs or take more disruptive steps like canceling purchase orders

US President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down. By August 30, as the US nears He’s already imposed retaliatory duties targeting Trump ’ s base including Iowa soybeans and Kentucky bourbon. Yet matching the latest US barrage

U.S. President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down.

By Aug. 30, as the U.S. nears mid-term elections vital for Trump’s legislative agenda, the White House will be ready to impose 10 percent tariffs on $200 billion of Chinese-made products, ranging from clothing to television parts to refrigerators. The levies announced Tuesday -- together with some $50 billion already in the works -- stand to raise import prices on almost half of everything the U.S. buys from the Asian nation.

China has seven weeks to make a deal or dig in and try to outlast the U.S. leader. President Xi Jinping, facing his own political pressures to look tough, has vowed to respond blow-for-blow. He’s already imposed retaliatory duties targeting Trump’s base including Iowa soybeans and Kentucky bourbon.

Flake hits Trump over criticism of EU: 'We need our allies with us'

  Flake hits Trump over criticism of EU: 'We need our allies with us' “This is so wrong, Mr. President.”"This is so wrong, Mr. President. When we confront China on unfair trade practices, we need our allies, especially those in the EU, with us, not against us," Flake tweeted.

U. S . President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down. By Aug. 30, as the U. S . nears Yet matching the latest U. S . barrage would force China to either levy much higher tariffs or take more disruptive steps like canceling purchase orders

U. S . President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down. By Aug. 30, as the U. S . nears Yet matching the latest U. S . barrage would force China to either levy much higher tariffs or take more disruptive steps like canceling purchase orders

Yet matching the latest U.S. barrage would force China to either levy much higher tariffs or take more disruptive steps like canceling purchase orders, encouraging consumer boycotts and putting up regulatory hurdles. Not only does that risk provoking Trump to follow through on threats to tax virtually all Chinese products, it could unleash nationalist sentiment on both sides that fuels a deeper struggle for geopolitical dominance.

“It’s already past the point of no return,” said Pauline Loong, managing director at research firm Asia-Analytica in Hong Kong. “What’s next is not so much a trade war or even a cold war as the dawn of an ice age in relations between China and the United States.”

Read more on the escalating conflict

Handbags and Cameras Hit as Trump Tariffs Target Consumers

This American Cargo Ship Is Racing to China to Beat a Huge New Tariff on the Soybeans it's Carrying

  This American Cargo Ship Is Racing to China to Beat a Huge New Tariff on the Soybeans it's Carrying A ship carrying U.S. soybeans is steaming toward northern China in a race to beat a 25 percent tariff. Peak Pegasus is expected to arrive in Dalian on Friday, the same day that China is scheduled to impose tariffs on imports from the U.S., according to shipping data compiled by Bloomberg and a person familiar with the matter. If it arrives as scheduled, it should be able to clear customs before the tariffs are imposed, according to the person, who asked not to be identified because they’re not authorized to speak to the media. Ship-tracking data currently shows it arriving at about 5 p.m. local time.

30, as the U.S. nears mid-term elections vital for Trump ’ s legislative agenda, the White House will be ready to impose 10 percent tariffs on 0 billion of (Bloomberg) -- U.S. President Donald Trump is pushing his trade conflict with China toward a point where neither side can back down.

Trade war is reaching ' point of no return '. Donald Trump is taking the trade dispute with China to the dangerous point where neither side can back down He’s already imposed retaliatory duties targeting Trump ’ s base including Iowa soybeans and Kentucky bourbon. Yet matching the latest U.S. barrage

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Stocks fell, the dollar gained and commodities slid with emerging-market assets Wednesday as investors assessed the fallout. Futures on the S&P 500 were down 0.6 percent as of 7:14 a.m. in New York and the Stoxx Europe 600 Index retreated 1.1 percent. While earlier tariffs were expected to have only a limited impact, economists warn a full-blown trade war could derail the strongest economic upswing in years.

The Chinese Commerce Ministry said Tuesday that it would be forced to retaliate against what it called “totally unacceptable” U.S. tariffs. There have been no confirmed high-level talks between the two sides since an early June visit to Beijing by U.S. Commerce Secretary Wilbur Ross that achieved no breakthroughs.

China Has Arsenal of Non-Tariff Weapons to Hit Back at Trump

  China Has Arsenal of Non-Tariff Weapons to Hit Back at Trump Donald Trump’s threat to impose tariffs on an additional $200 billion of imported Chinese goods could see China retaliate with a wide range of non-tariff barriers. Because China only imports around $130 billion worth of goods from the U.S., its ability to match the tariffs dollar-for-dollar is limited. The U.S. imported $505 billion of goods from China last year.Upping the ante: Read more on Trump’s latest tariff threat.

Share this story. Trump ’ s 0-billion tariff barrage pushes China trade war to the point of no return . “I am fighting for a level playing field for our farmers, and will win!” “It’s already past the point of no return ,” said Pauline Loong, managing director at research firm Asia-Analytica in Hong Kong.

Trump ’ s tariff barrage pushes China fight to point of no return . “If Trump ’ s tariffs hit headphones, it will affect exports to the US and our customers will hope that we can cut costs and manufacture in locations unaffected by the tariffs ,” he told analysts.

Beijing “never yields to threat or blackmail” and will retaliate against the “groundless” tariffs, China’s Vice Minister of Commerce Wang Shouwen said in written comments to Bloomberg. “The U.S. side ignored the progress, adopted unilateral and protectionist measures, and started the trade war.”

What Our Economists Say...

“As the targeted imports broaden to include more consumer products, a hit to household wallets and a bump to inflation could start to shift the political calculus in the U.S.,” said Bloomberg’s China economist Fielding Chen.

The Aug. 30 date ensures the trade fight features prominently in November’s U.S. congressional elections, and the announcement exposed fissures between Trump and his Republican Party about the strategy. House Ways and Means Committee chief Kevin Brady, of Texas, warned of “a long, multi-year trade war between the two largest economies in the world that engulfs more and more of the globe.”

“Despite the serious economic consequences of ever-increasing tariffs, today there are no serious trade discussions occurring between the U.S. and China, no plans for trade negotiations anytime soon, and seemingly little action toward a solution,” Brady said. Senate Finance Committee Chairman Orrin Hatch, of Utah, called the new levies “reckless” and not “targeted.”

China vows to fight back as the trade war escalates

  China vows to fight back as the trade war escalates It's now safe to say that a trade war is underway between the United States and China. Following the introduction of reciprocal tariffs on $34 billion of the others imports on Friday, the US, as promised, has announced a new list of 6,000 Chinese goods, totalling $200 billion, that may be hit with additional 10% tariffs by the end of next month.China's Commerce Ministry has vowed to retaliate to the countermove."The Chinese side is shocked by the actions of the US," it said in a statement, according to a translation by Google.

China is reaching out to Europe with pledges to improve market access for companies in a charm offensive that contrasts with President Donald Trump ’ s escalation of trade disputes worldwide. China Opens European Charm Offensive as Trump Stokes Trade Dispute.

WASHINGTON — President Trump says his trade war with China will protect America’ s dominance and derail Beijing’ s plan for technological and economic supremacy. The tariffs will also hit the tech and telecom companies that provide much of the gear that powers the internet, mobile networks, data

Read more: Some tariffs apply to flows that don’t exist

The latest move suggests that Trump -- who in March declared that “trade wars are good and easy to win” -- may be compromising on his pledge to spare consumers from the pain. The tariffs could raise the prices of everything from baseball gloves to handbags to digital cameras just as voters are heading to the polls. Other high-profile items such as mobile phones have so far been spared.

Unfair Practices

The U.S. felt it had no choice, but to move forward on the new tariffs after China failed to respond to the administration’s concerns over unfair trade practices and Beijing’s abuse of American intellectual property, according to two senior officials who spoke to reporters. The Trump administration has so far rejected Chinese offers to trim its massive trade surplus by buying more American goods, and is demanding more systemic change.

“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,” Trade Representative Robert Lighthizer said in a statement. “China has not changed its behavior -- behavior that puts the future of the U.S. economy at risk.”

Although the looming elections provide an immediate concern for Trump, a trade war poses a more existential concern for Xi, whose Communist Party has built its legitimacy on economic success. Prominent academics and some government officials have begun to question if China’s slowing, trade-dependent economy can withstand a sustained attack from Trump, which has already weighed heavily on stock prices.

Among other things, the U.S. is asking China to roll back its “Made-in-China 2025” program, a signature Xi initiative to dominate several strategic industries, such as semiconductors to aerospace development. Since abolishing presidential term limits, Xi has strengthened his control over the levers of power and money in China and can’t afford to look weak.

“China is showing no signs of backing down and instead looks like it is preparing for a drawn out conflict,” said Scott Kennedy, deputy director of China studies at the Center for Strategic and International Studies in Washington. “China has a million and one ways to retaliate.”

--With assistance from Jenny Leonard, Andrew Mayeda and Bryce Baschuk.


Trump says he's 'ready' to put tariffs on all $505 billion of Chinese goods imported to the US .
President Donald Trump has indicated that he is willing to slap tariffs on every Chinese good imported to the U.S. should the need arise. "I'm ready to go to 500," the president told CNBC's Joe Kernen in a "Squawk Box" interview.The reference is to the dollar amount of Chinese imports the U.S. accepted in 2017 — $505.5 billion to be exact, compared to the $129.9 billion the U.S. exported to China, according to Census Bureau data.Thus far in the burgeoning trade war, the U.S. has slapped tariffs on just $34 billion of Chinese products, which China met with retaliatory duties.

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