China is pushing back against the United States and intensifying the already tense trade war. The Communist country has announced the US will now be subjected to tariffs on plane, cars, and soybeans as a response to the US’s tariffs on Chinese goods.
The Chinese Ministry of Commerce said on Wednesday that it plans to impose a 25% tariff on $50 billion worth of US exports. The 106 affected products will also include soybeans and chemicals. China’s announcement is a direct response to the Trump administration’s publication Tuesday of a list of about 1,300 Chinese exports, worth about $50 billion annually, that it intends to target with 25% tariffs.
The trade war is getting more intense as the two nations battle it out. The real loser in any trade war is the American consumer as the cost of goods soars affecting those already on a bowstring tight budget. The quick-fire exchange of threats is intensifying fears of a full-blown trade war between the world’s two largest economies. Markets dipped sharply as news of China’s plans emerged.
“The true purpose is not to escalate it to a trade war, but to demonstrate no weakness,” said Aidan Yao, an economist at fund management firm Axa Investment Managers. The Chinese may be escalating the trade war as a way to get the US to come to the table to discuss the economic and market issues facing both countries. Chinese Vice Finance Minister Zhu Guangyao said at a news conference in Beijing that the period before the tariffs go into effect is the “time to negotiate and cooperate.”
It’s still not clear when the new waves of tariffs announced by the US and China might actually take effect, or if they’ll be watered down in the meantime. China said the timing would be announced separately. The US government said it will hold a public hearing for US businesses about its plans next month.
Tommy Xie, an economist at Singapore-based bank OCBC, said it was unlikely that the latest tariffs from either side would come into force for another couple of months. But if talks during that period fail, then “the trade war starts,” he warned.
there’s been a trade “war” for DECADES. time to make the chinks PAY for all that stealin’ they been doing.
TRUMP wins again. China just shot itself in the foot, bigly !!! Not enough soybean meal to feed 400 million pigs in China as it is without US soybeans.
https://www.zerohedge.com/news/2018-04-04/why-chinas-soybean-tariff-changed-everything
Tariffs on soybeans in China means the price of pork will rise in China as pig farmers pay more for feed. Marginal farmers will cut production (supply) while demand remains the same.
Finally, the basis for worldwide INFLATION, deflationary fears will now disappear. 🙂
thinning out the herd….exactly the right prescription!
Why all the less exporting these US products stay in the US and become cheaper as supply id greater than demand. Maybe pork prices in the US drops since feed becomes cheaper. We dont need ChinaMart. China products are Junk anyway.
Actually, some other country is going to win “bigly.” The Ukraine use to be the breadbasket of Russia. Bet they know how to grow soy beans just fine. Same with South America.
Across the border, Amur region where growing soy.
butthole: You are right…tax them chink’s a$$es for once. I am so sick of these chinks and gooks and all the rest of them and their silly crooked, corrupt antics.
BCOD
I can’t agree more screw those slant eye bastards.
Sgt.
But how will the average Chinese still be able to buy a New car or plane if they put a tariff on them? They may have to go back to riding a bicycle. Amazing how they buy all those cars and planes from us and all we can afford to buy is their junk. Trekker Out
The Chinese are buying American cars that are built in China as joint ventures. We are not exporting cars to them like Honda, Hyundai, Toyota, BMW and Mercedes were shipping to US. The chinese went to school on US long ago and either nipped our imports in the bud or stole our processes to build our products.
Any Boeing commercial jets that are on order by Chinese Airlines may cost their airlines more but those costs can be passed along to consumers and amortized over time. The reality is that China has been developing its own airliners after copying ours, and have been looking for an excuse to buy local. Their biggest manufacturing problem has been re-creating our jet engines.
That problem has recently been solved so the market for more Boeing passenger jets was about to close anyway and Boeing knew it was just a matter of time before that window closed.
Just saying. That’s the way that China operates. They want to dominate EVERY major industry AND be self sufficient in food production. We lose nothing in a Trade War that we were not going to lose anyway, eventually. 🙂
They drive Geely’s. Little bit bigger than a golf cart with a weedwhacker engine.
Our trade with china has been so lopsided and unfair to the USA manufacturers. its Ok if we never export or import a single item to china. If there is a market demand someone will produce the product.
If I had to weed out everything here made in China there would be little left. Dollar store items are triple the price in Walmart. So for whatever cheap plastic thingamajig that is needed thank China. Now for metal items one use and it’s kaput. American quality went Chinese.
“made in china” IS a warning-label, afterall…..
I needed to replace a nutcracker made in the 1940s that belonged to my grandmother that finally broke.
I found the exact (and I mean exact), same nutcracker at the local grocery store with MADE IN CHINA stamped on it. This nutcracker even had the same design flaw; an under-sized rivet that let the nutcracker handles pinch the crap out of your hands if you weren’t careful.
American corporations have exported and out-sourced our past, our manufacturing, even our history to places like China. The only thing we have left is a bankrupt future.
I am sick of it.
Tso’s price went up at my favorite restaurant.
Now it’s war.
Thank God China does not produce Chocolate.
OFF TOPIC: Be careful of Trump’s promise of sending troops to the souther border. Will they be armed? With live ammo? What are the Rules of Engagement? Or,will they be unarmed,used only to round up more illegals and escort them to detention? Just don’t get your hopes or expectations up.
No expectations here. They were used before to augment border patrol agents, but only to provide lagestics such as observation, transportation etc. Sworn officers still had to detain illegals. I would prefer they use snipers to get them at the half way mark, but ain’t going to happen. Just like the wall ain’t going to happen unless congress makes America pay for it.
how much y’all wanna bet that we see a bunch of dims show up at the border, just as the illegal invaders show up to cross, to keep the opposing force from doing their jobs? THEY should be shot too, but they won’t have any LIVE ammo.
It will be the national guard assisting the US border patrol. Much ado about nothing.
Violations of patents has gone on for decades as China took over a large share of the American market. We should have taken action decades ago. Now, it may be too late. SHTF may finally be here.
China will lose this one. Their only advantage is population size. And that is and always has been their biggest weakness. To remain stable they’ve literally bred into their people an inability to think new thoughts, come up with new ideas. Such are kept down, to not be done. Without America and our (to them) insane ways of thinking outside the box, being free to dream up new ways of doing things, they have no chance. Sure they can copy to beat the band; but, some novel or innovative approach? Not since they invented black-powder or noodles.
Noodles! That’s almost as good as inventing Peanut Butter.
If this worthless, feckless piece of crap U.S. government doesn’t stop in flood of “illegals, undocumented, migrants, refugees, asylum seekers, boat people, unescorted children” we are going to have a population problem worse than anybody else on the planet.
The “New York Times” has been bragging about how the U.S. takes in 10-times the number of “illegals, undocumented, migrants, refugees, asylum seekers, boat people, unescorted children” than Europe does.
Of course, MSM doesn’t report uncontrolled immigration as a crisis. That is how twisted the propaganda has gotten.
Tariffs are just another tax, paid by the American people, to our government. It won’t hurt China other than they might sell a little less, but it will kill the average American. They might as well of not passed the tax bill, and just raised our taxes.
Good! End “Made in (Communist-ruled) China”!
Piss on China – I can’t stand those slanted-eyed, dink, chink $hits!!
The Chinese say “The nail that sticks out gets hammered down”; and “The tallest tree in the forest…”. The number of Chinese proverbs extolling the virtues of conformity greatly outnumbers such sayings and proverbs in Western culture.
When a trait is rewarded with success as in China conformity is rewarded, in time, due to higher birth rates by successful people, eventually that trait becomes genetic.
Now, that is not to say that there are absolutely no Chinese non-conformists. It’s just that they are rare. This quality of conformity is good for controlling large populations. But conformity is a disaster if you need innovative ideas.
American Scientists have found Chinese Scientists to be a monumental disappointment. It is not enough to be able to calculate numbers, something Chinese excel in, Scientists need imagination. Good Science is an art. Creativity and an ability to question commonly held ideas is the basis of discovery.
The first ships were made by Vikings whom discovered North America. The unruly white man, seen as a savage by the conformist Asian, is the greatest inventor on the face of earth since antiquity to the present. The rest of the world hangs on our coat tails, not because we oppress them but because we can’t help ourselves; our genes dictate that we forge forward into the great unknown. We were born to lead.
_
Yes BfromCA there was one non-conformist in China and he got run over by a tank in Tiananmen Square, guess that wold make you want to conform if you were there. Trekker Out
You can grow soy beans anywhere. Besides, who wants to be a “Soy Boy?”
America has placed tariffs on Chinese manufactured goods that we will have trouble finding alternative sources for. The Chinese have placed tariffs on American agricultural products for which they can get from alternative countries. Both sides will suffer a loss of revenue with which to buy foreign goods. I don’t think anyone has a good handle on how an all-out trade war will affect America. Hope for the best;prepare for the worst.
If the US is tough and serious about its position of fair trade China will fare better in the short-term, but the US would definitely gain the advantage over the long-term, and China knows it. Sure, they have a skilled though cheap endless source of labor, and a big pile of gold, and are aggressive in business, but little in all types of resources. They have to import every type of commodity and resource, without which they could not build the present economy they presently enjoy.
The US does run huge trade deficits but that is because it is cheaper to import than to manufacture here. Though not a panacea, tariffs will help change that equation. Without the US buying their products their market would shrink dramatical, and they know it. They know that Russia will supply raw materials to them, but Russia can never be a large market for Chinese products. Thats one reason why China is now trying to establish the new Silk Road.
China can hurt the US by no longer buying US issued treasury instruments, and by starting a sell-off of the ones they presently own, but it will probably come to that sooner or later anyway.
American multi-national corporations also share the blame; they want cheap labor, and other types of low business expenses such as lax safety and environmental laws, low or no taxes, no unions, no employee benefits, etc. Therefore, to recreate wealth production in the US there will also have to be legal, financial, economic, business, and tax reforms in our country.
The most precious resource a nation can possess other than its soil and groundwater is a large, modern efficient, industrial and manufacturing base. The bottom line is things have to be produced to create wealth. Before 1980 the US was the largest creditor nation in the world, now we are the largest debtor nation in the history of the world. Since then, we have also lost 80 % of production and manufacturing base. Sure, we can buy stuff cheap at Walmart, but it is the 1 % with some particular stockholders that really benefit from the present trade situation.
A lot of products that are “Made in USA” are actually “Assembled in USA” with components brought in from all over the globe, including China. Some of the components are made only in China. We have become so interconnected with China and other countries. I hope that these tariffs don’t spread to the components. We really need to rethink a whole lot of issues.
Add this to the trade war with China. This evening the U.S. announced another “fresh” round of sanctions against Russia. This piece of sh*t Deep State government is just begging for World War 3. Begging.
Yeah but Ivanka’s entire women’s product line, shoes, purses, clothing, are all made in China. So are all of DJT’s MAGA merchandise from the caps to the Christmas ornaments. All were made in China.
Shhhhhhh. Don’t tell anyone. That’s un-American.
Bad news for U.S. whiskey producers.
Good now we can start making things here again.
Put AMERICANS back to work…………
You really believe that? In theory, yes. Not likely.
But GR, the Americans would expect to be paid more. A lot more. Unlike Americans, the Chinese will accept rock bottom wages. Americans will not.
Ivanka and DJT and others like them, who have all of their products and merchandise manufactured in China so that they get a much bigger cut of the action, are not going to be happy taking a huge cut by having the same products and merchandise manufactured in the USA. And they are not going to go that route. Get real.
Hypocrites can’t see the hypocrisy.
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