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Trade War Amplifies: China Sets Tariffs On $60 Billion Worth Of US Goods

Mac Slavo
September 18th, 2018
SHTFplan.com
Comments (14)
Read by 1,211 people

In retaliation for tariffs leveled on China, the Communist government has returned the favor, and set tariffs on $60 billion worth of goods imported from the United States.  It only took mere hours for China to respond to the announcement that the US would place tariffs on $200 billion in Chinese goods.

If the U.S. continues to raise its tariffs, China will respond in kind, according to a report by NPR. This current ramp up in the trade war sets the stage for yet another set of tariffs and sky-high tensions between the US and China. On Monday, president Donald Trump also threatened to add levies on about $267 billion of additional imports if China retaliated.

When announcing the tariffs against China on Monday, Trump said China’s trade practices, such as forcing U.S. companies to transfer technology to Chinese firms, “plainly constitute a grave threat to the long-term health and prosperity of the United States economy.”

“The Chinese side reiterates that the aim of imposing these tariffs is to prevent trade frictions from escalating and it is a measure of last resort against American unilateralism and trade protectionism,” the Chinese state television report said. China’s Commerce Ministry also made a post on their website which accuses the U.S. of causing an “economic emergency” in China and forcing China to retaliate.

The newly imposed tariffs will start at 10 percent and rise to 25 percent in 2019 if China does not make concessions to the U.S. A senior Trump administration official stated on Monday that, while it seeks changes in China’s trade policies, the U.S. is “not trying to constrain China’s growth. … We remain open to negotiations. We hope that China will come to the table and address the concerns we have raised.”

But the trade war itself is concerning to businesses and investors, who have warned that the U.S. may not come out on top in this war and that it’s the American citizen who will bear the cost of the rhetoric. Moody’s, the credit-ratings agency, said the tariffs will hurt the world economy “by distorting prices and creating inefficiencies globally. Companies that rely on global supply chains will likely hold off investment decisions given the uncertainty around tariffs.”

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Author: Mac Slavo
Views: Read by 1,211 people
Date: September 18th, 2018
Website: www.SHTFplan.com

Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

14 Comments...

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  1. coopersmith says:

    Moody’s, the credit-ratings agency, said the tariffs will hurt the world economy “by distorting prices and creating inefficiencies globally. Companies that rely on global supply chains will likely hold off investment decisions given the uncertainty around tariffs.”

    —————

    Boohoo…..

    screw multinational corporations………..

    and their profits.

  2. Finally we have a President acting in the interest of tax paying working Americans, most of whom just happen to be white of European descent, and of displaced unemployed workers who also just happen to be white of European descent. The obvious fact being that Globalism disproportionately affects white people of European descent whom just happen to be the majority of Americans.

    _

    • TharSheBlows says:

      Good, Americans will get our jobs back and start slapping good Ol’ “Made in America” Labels again on our own newly made products. Screw Wallyworld aka: ChinaMart, let them start new industries here in the states again, making quality products. Making America Great Again, Good Job Trump. Plus, we will start getting big corporations to market cheaper products here in the states that they can’t dump over seas. And at a cheaper cost.

      Of course the Globalist are probably seething in their soup about this. Screw em!!

      Ever go into Walmart, about the only products made in America in the entire store is AMMO. And We do a fine job at making AMMO.

  3. kay123 says:

    Really it is up to the US public to
    cut back on purchasing merchandise
    from China.
    I don’t buy their junk. That is what most
    of it is.
    Do you really want to trust the enemy to
    produce things that could in some way
    kill you? Trump didn’t start this war
    china has been cheating us by stealing
    our brands, fake medications, low quality
    foods, stealing technology, paying bribes to
    advance knowledge. sending their students
    to our Universities to learn our secrets, etc etc.
    No, Trump is fighting back……for their indiscretions upon us !!!

  4. Jim in Va. says:

    Some companies will return here,they don’t want to give up their best market. We’ll make our own junk here along with the good stuff.

  5. TrueGrit says:

    My family, 90 year old Artistic Manufacturing company is up 300%
    in the last 12 months.
    After losing 90% of our customers to China from 1996-2008
    its been a horrible time for us.
    I don’t care about the poor farmer who wont be able to sell chicken feet anymore.

  6. Anonymous says:

    Higher tariffs work in favor of countries running a high trade deficit, not a high trade surplus.

    We’re running an giant and unsustainable trade deficit with Chins while China has an absolutely huge surplus with us.

  7. Maranatha says:

    The US government can easily buy all farm harvests. Then the price is solid and dependable. Then if anyone wants corn and soybeans and pork, they would have to buy it from the US government. Otherwise sell that material to American businesses and for government operations like feeding soldiers.

    This is not an unsolvable problem.

    If the US trades dollars for natural resources, in effect currency becomes money. That is a worthy goal. The US government could stabilize the price of all natural resources. Then sell them based upon what best benefits America.

    And then produce EVERYTHING domestically.

    Otherwise China is siphoning off the wealth from America. That is how a nation who lacked snowplows in the seventies when Nixon visited, now has massive manufacturing and automation and robotics today.

    • Maranatha says:

      Right this moment, OPEC is trying to push petroleum prices sharply up. Right now, America is a major force is petroleum production. If the USA bought all oil, and the released the oil domestically, it stabilizes petroleum prices.

      Then any other nation who needs it must buy it from the federal government. We accomplished four things.

      Stabilized petroleum prices.
      Ensured our source domestically.
      Turned currency into money as dollars are in effect backed by natural resources.
      All petroleum had a domestic buyer thus sharply reducing shipping costs.

      The real question is why not try it this way? Actually it totally benefits us as these weasel allies would have to crawl on their bellies in humility to acquire pertroleum.

      We have land, natural resorces, an educated workforce, and world class agriculture. And we have the most fearsome military force in the world. We don’t need allies. We have power.

  8. I’ll applaud Trump, if he orders the torpedoing of boats coming in with Chinese made goods. But that would be bad for American corporations. Best to tax American companies here, for doing business in China. Provide incentives to bring industry back to America.

    Then do as China does. Tax actual Chinese brands coming to America. For the cherry on top, start limiting their visas. We don’t need them flooding our corporations, universities and real estate markets.

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