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China tariffs: Losers outnumber winners in this trade war

China tariffs: Losers outnumber winners in this trade war

Trump announced Thursday night that his administration would consider imposing $100 billion more in tariffs on Chinese goods. China then said it would impose tariff hikes on $50 billion worth of USA goods, including soybeans and small aircraft.

In a statement, Trump said the U.S. Trade Representative had determined that China "has repeatedly engaged in practices to unfairly obtain America's intellectual property".

Since the U.S. and China have the world's biggest trading relationship, the tariff war will help neither of the countries. "We do not export much into China, so for now import tariffs to China have little effect on Kokatat". "Tech rivalries spill into Washington MORE said that was the "potential of trade war with China" but added that he is cautiously optimistic that we will be able to work this out".

In U.S. economic news, the government reported that American employers added 103,000 jobs in March, below the 185,000 jobs analysts had forecast. The tariffs originated in a USA effort to stem the almost $500 billion trade deficit in goods with China. The Chinese response was quick, coming less than 24 hours after the US announcement.

According to BlackRock: "Recent U.S. negotiating tactics have followed a consistent pattern: headline announcements spooking markets, followed by compromises and narrow implementation".

In the brewing trade-war between the United States and China, the list of losers already outweighs the winners. Another resource could be the U.S. Export Assistance Center, which helps businesses expand into new markets by charging a fee to help entrepreneurs set up meetings overseas, in the event that Chinese tariffs make it too costly to export to Beijing.

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On Friday Caterpillar, a construction equipment maker, slid $5.14, or 3.5 percent, to $142.99 and Boeing, an aerospace company, lost $10.28, or 3.1 percent, to $326.12.

Wall Street stocks finished sharply lower on Friday (Apr 6) after escalating threats in the US-China trade spat deepened fears of an all-out trade war.

The latest round of proposed USA tariffs target several specific categories of steel and aluminum made in China.

The Organization of the Petroleum Exporting Countries and some non-OPEC producers including Russian Federation are committed to cutting output by around 1.8 million barrels per day through the end of 2018 in a bid to clear a global overhang and support prices.

Trump saw that as an "unfair retaliation" on #China's part, so yesterday, he proposed an addition tariff of $100 billion. "Now we only have one issue to deal with, and that's trade". In theory, this boosts the economy of the country imposing tariffs. We were badly represented. Though India can not remain unaffected by the tariff war, it needs to tread carefully, given its economic stakes in two of the most powerful countries in the world and the need to promote multilateral trading system. "This is the standard textbook for a trade war", says the NRF's French. He stressed that the USA tariffs on China were simply proposals, still to be vetted by trade officials and open to public comment.


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