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China Imposes Tarrifs on 128 US imports.(update: EU imposes billions in Tarrifs on US)

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China imposes tarrifs on 128 US imports.

 

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China has imposed tariffs of up to 25% on 128 US imports, including pork and wine, after US President Donald Trump raised duties on foreign steel and aluminium imports earlier in March.

The tariffs affecting some $3bn (£2.1bn) of imports kick in on Monday.

Beijing said the move was to "safeguard China's interests and balance" losses caused by new US tariffs.

 

Update: 6/20/2018

 

EU hits the Us with Billions in Tarrifs

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The European Union will hit back at Donald Trump by imposing 25 per cent import tariffs on a range of American products starting on Friday, Brussels has confirmed.

The EU says the initial €2.8 billion (£2.5bn) in charges are a response to the US decision to impose tariffs on European steel and aluminium imports. 

The move risks escalating the nascent trade war between the US and the rest of the world, with Mr Trump ramping up protectionism and other countries hitting back.

 

“We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminium tariffs on the EU means that we are left with no other choice,” Trade commissioner Cecilia Malmström said on Wednesday.

“The rules of international trade, which we have developed over the years hand in hand with our American partners, cannot be violated without a reaction from our side. Our response is measured, proportionate and fully in line with WTO rules. Needless to say, if the US removes its tariffs, our measures will also be removed.”

 

The bloc says it has another €3.6 billion in US products lined up for further tariffs if the WTO trade court, where it has lodged a dispute, finds in its favour. The combined tariffs will be levied on diverse products such as Bourbon whiskey, cranberry juice, motorcycles, and denim trousers – as well as American metal exports.

 

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ctm   

Donald J. Trump ✔ @realDonaldTrump

 

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!

5:50 AM - Mar 2, 2018

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8 minutes ago, ctm said:

Donald J. Trump ✔ @realDonaldTrump

 

When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!

5:50 AM - Mar 2, 2018

Yeah this country would not win if China decided we couldn’t get anything from them anymore. 

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So China purchased the largest pro=k producer in North America, Smithfield and then proceeded to place tariff's on pork.

 

China is taxing itself for it's own products that it owns.

 

It's laughable that China actual wants a trade war. Just read up (abt 15 mins) on China's economy/currency, you will see why. This "gesture" is to save face and part of the negotiation.

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Soxcat   

But but but but the left says we will lose if we get in a trade war with China.  So China is going to raise food prices on their own people to win a trade war?  Right. 

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2 hours ago, Soxcat said:

But but but but the left says we will lose if we get in a trade war with China.  So China is going to raise food prices on their own people to win a trade war?  Right. 

American politicians are worried about how their voters are affected. Chinese leaders don’t have to worry about that...

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Cyrus   
3 hours ago, Soxcat said:

But but but but the left says we will lose if we get in a trade war with China.  So China is going to raise food prices on their own people to win a trade war?  Right. 

If prices go up on US Imports, they'll import from someone else. That's the point. So in many cases American growers/producers could see a dramatic drop in their sales. A lot of it is on American produce, so most people who voted for Trump (Farmers) could see a decline in exports/sales.

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Soxcat   

I understand and don't necessarily agree with what Trump is doing.  Still, it isn't like China has as many options as you think.  If Obama put a tariff on steel and aluminum the same libs would be heralding it as a victory for US workers.  Nice to see libs suddenly showing some understanding of supply and demand for a change.  Even if it is just to bash Trump. 

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5 minutes ago, Soxcat said:

I understand and don't necessarily agree with what Trump is doing.  Still, it isn't like China has as many options as you think.  If Obama put a tariff on steel and aluminum the same libs would be heralding it as a victory for US workers.  Nice to see libs suddenly showing some understanding of supply and demand for a change.  Even if it is just to bash Trump. 

Obama did put a tarrif on China on tires. It failed and ended after a short period, same as Dubya’s China tariffs. 

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Cyrus   
6 minutes ago, Soxcat said:

I understand and don't necessarily agree with what Trump is doing.  Still, it isn't like China has as many options as you think.  If Obama put a tariff on steel and aluminum the same libs would be heralding it as a victory for US workers.  Nice to see libs suddenly showing some understanding of supply and demand for a change.  Even if it is just to bash Trump. 

It has South America for many agricultural alternatives (not nuts) and more French wines. (which they primarily import on the very high end). There are some alternatives, it may not be as clear cut, but everyone should be pushing back against the idea that "trade wars are good and easy to win".

 

 

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5 hours ago, TennesseeTuxedo said:

So China purchased the largest pro=k producer in North America, Smithfield and then proceeded to place tariff's on pork.

 

China is taxing itself for it's own products that it owns.

 

It's laughable that China actual wants a trade war. Just read up (abt 15 mins) on China's economy/currency, you will see why. This "gesture" is to save face and part of the negotiation.

The tariff is on frozen pork. Smithfield sends live hogs to China to be killed, processed and sent back. Try again. 

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Rolltide   
6 hours ago, TennesseeTuxedo said:

So China purchased the largest pro=k producer in North America, Smithfield and then proceeded to place tariff's on pork.

 

China is taxing itself for it's own products that it owns.

 

It's laughable that China actual wants a trade war. Just read up (abt 15 mins) on China's economy/currency, you will see why. This "gesture" is to save face and part of the negotiation.

Quit sounding like a libtard. Smithfield was purchased by a company called  Shuanghui International not the country of China. It is a business that makes and sells cured pork products. China does not need to buy pork from the USA they produce 4 times the pork we do. 

 

When a Chinese person buys a ham from Shuanghui International they will not likely be paying a premium. 

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Rolltide   

Tariffs are dumb. If Americans think we are buying too much from China then don't buy those products. The trade deficit exists with other countries as well. For example Vietnam only buys $3.7B in products from us while we but $17.5B in products from them. So buy Vietnamese made products instead? We have a trade deficit with India and many other countries as well. 

Edited by Rolltide

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