Trump threatens tariffs on $100 billion more China goods Beijing says will fight back

[Cebu_4_2]

Trump threatens tariffs on $100 billion more China goods; Beijing says will fight back

Tom Daly (https://www.reuters.com/journalists/tom-daly), Steve Holland (https://www.reuters.com/journalists/steve-holland)
6 MIN READ

BEIJING/WASHINGTON (Reuters) - China warned on Friday it would fight back “at any cost” with fresh trade measures if the United States continues on its path of protectionism, hours after President Donald Trump threatened to slap tariffs on an additional $100 billion in Chinese goods.

Trump said the United States has already lost any trade war, as he defended his proposed tariffs, saying the move might cause “a little pain” but the United States will be better off in the long run.

“We’ve already lost the trade war. We don’t have a trade war, we’ve lost the trade war,” Trump said in a radio interview with New York radio show, 77 WABC’s “Bernie & Sid” early on Friday. In a Twitter message on Wednesday, he had said: “That war was lost many years ago by the foolish, or incompetent, people who represented the U.S.”

China’s commerce ministry was due to hold a media briefing at 1200 GMT on Friday.

In light of China’s “unfair retaliation” against earlier U.S. trade actions, Trump upped the ante on Thursday by ordering U.S. officials to identify extra tariffs, escalating a high stakes tit-for-tat confrontation with potentially damaging consequences for the world’s two biggest economies.

On Wednesday, China unveiled a list of 106 U.S. goods - from soybeans and whiskey to frozen beef and aircraft - targeted for tariffs, in a swift retaliatory move only hours after the Trump administration proposed duties on some 1,300 Chinese industrial, technology, transport and medical products.

https://www.reuters.com/article/us-usa-trade-china/trump-threatens-tariffs-on-100-billion-more-china-goods-beijing-says-will-fight-back-idUSKCN1HD0NW

[ziero0]

The Chinese want to fight? I doubt it. Don't they know this is just a poker game? Stakes are large but not a reason for bullets.

[madfranks]

Don't forget, it's not $100 billion in new tariffs, it's new tariffs on $100 billion of goods, which means the real tariff is whatever percentage of this $100 billion of goods (ex: a 10% tariff would be $10 billion, not even a drop in the bucket of the global economy). However, here's how this could be bad: When the next recession hits, which is (IMO) very likely to happen during Trump's presidency, this puny tariff will be getting all the blame for the global recession, and the MSM will non-stop blame Trump and his itty-bitty $10 billion tariff/tax for the recession, when in fact it was Obama and Bush's trillions upon trillions of new debt and the Federal Reserve's 0% interest rates for 10 years which fueled Wall Street's epic stock market bubble that set it up. But the puny ~$10 billion tariff will be the scapegoat, because the MSM will have to blame Trump, and this gives it to them.

[Ares]

Don't forget, it's not $100 billion in new tariffs, it's new tariffs on $100 billion of goods, which means the real tariff is whatever percentage of this $100 billion of goods (ex: a 10% tariff would be $10 billion, not even a drop in the bucket of the global economy). However, here's how this could be bad: When the next recession hits, which is (IMO) very likely to happen during Trump's presidency, this puny tariff will be getting all the blame for the global recession, and the MSM will non-stop blame Trump and his itty-bitty $10 billion tariff/tax for the recession, when in fact it was Obama and Bush's trillions upon trillions of new debt and the Federal Reserve's 0% interest rates for 10 years which fueled Wall Street's epic stock market bubble that set it up. But the puny ~$10 billion tariff will be the scapegoat, because the MSM will have to blame Trump, and this gives it to them.

Well not all of the blame can be put at the feet of Obummer and Bush. Trump did sign a 1.3 Trillion USD omnibus spending bill. We all know the system is designed to acquire more debt or it dies. We are approaching the end game whether we like it or not. I thought it was it back in 2008/2009 when the recession hit. However the FED has blown its load and really doesn't have any ammo left to deal with the next one. They are still trying to unwind their balance sheet and interest rates are no where near where they should be for a "healthy" economy.

So the next time the economy dives we likely won't recover for a generation, if ever with the current monetary system.

[Horn]

On Wednesday, China unveiled a list of 106 U.S. goods - from soybeans and whiskey to frozen beef and aircraft - targeted for tariffs, in a swift retaliatory move

My understanding is that there already was a heavy tariff applied by China.(what Trump wants to remove)

The existing tariff on U.S. is most likely what China uses to subsidize its exports back to U.S.

So that If those existing tariffs fall u would still see the same effect on the ground U.S. people would assume either way it were a war.

[vacuum]

Trump is actually doing what he promised he would do in regards to trade.

Pray for him.

[madfranks]

Well not all of the blame can be put at the feet of Obummer and Bush. Trump did sign a 1.3 Trillion USD omnibus spending bill.True, but as the MSM and all mainstream economists are Keynesians, they won’t blame national debt for any recession, because then they’d have to admit Obama’s contribution which was cumulatively way more than what Trump has approved so far. The tariffs are unusual enough and not understood by most so they make a perfect scapegoat, and all the Trump haters will drink it up like kool aid.

[Horn]

Yeah, the scapegoat is Trump. When truth core is that raw material price and transport will no longer be able to be suppressed by same market forces at work today.

The fantasy as supposed by many is that it were a politically controlled destiny.

[65strat]

Trump is actually doing what he promised he would do in regards to trade.

Pray for him.

Trump is crashing the markets right now. Should I pray to YAHWEH that white conservatives will be blamed forever for the pre-planned Trump collapse?

[Horn]

Here’s a complete list of goods

https://www.marketwatch.com/story/trump-administration-details-50-billion-in-tariffs-against-imports-from-china-2018-04-03

I would hate to be the guy at customs sorting through for any item.

How very silly.

[Cebu_4_2]

I would hate to be the guy at customs sorting through for any item.



Pages 14-58. I don't see how anyone in customs could possibly sort through shipping containers and feel they did a thorough job. Look how jacked up a simple thing like airport security has become.

[Neuro]

Trump is crashing the markets right now. Should I pray to YAHWEH that white conservatives will be blamed forever for the pre-planned Trump collapse?

White conservatives are the most likely to survive a collapse. Those who don’t survive will not blame anyone. Sure a few white liberals might survive too, but they will become conservatives along the way. Trump will probably be remembered as a sell-out to the Jews, like almost every president before him certainly will be remembered.

[Horn]

Pages 14-58. I don't see how anyone in customs could possibly sort through shipping containers and feel they did a thorough job. Look how jacked up a simple thing like airport security has become.

Give'm time, any customs army will end up with 1/2 the power of any gov that relies on them.

[Horn]

In response to Mr. Trump's tariffs, China wasted no time punching back with $50 billion in tariffs of its own on 106 products it imports from the U.S.

But the secretary was adamant that despite China and the U.S. exchanging new rounds of tariffs, both Mr. Trump and Chinese President Xi Jinping have a common goal of reducing the trade deficit, pointing to the president's tweet on Sunday that the two leaders "will always be friends no matter what happens" with trade disputes.

https://www.msn.com/en-us/news/politics/mnuchin-on-trade-war-with-china-it-could-be-but-i-dont-expect-it-at-all/ar-AAvDfpa?ocid=spartandhp


aint no thing, get the little guys to pay for Presidential bling