Economy

Trump Slaps Tariffs On $200 Billion In Chinese Goods

Trump Slaps Tariffs On $200 Billion In Chinese Goods

"If countries will not make fair deals with us, they will be tariffed".

The United States is ready to negotiate a trade deal with China whenever Beijing is prepared for serious talks that will reduce tariffs and eliminate non-tariff trade barriers.

The person who attended the event and is familiar with the White House's thinking said such a move would likely attract sharp retaliation from Washington, which has studied its own limits on exporting key technologies to China.

The upcoming tariffs will be on a list of items that included internet technology products and other electronics, printed circuit boards and consumer goods, including Chinese seafood, furniture and lighting products, tires, chemicals, plastics, bicycles and vehicle seats for babies, Reuters explained. Some of them have criticized Mr. Trump's tactics but many echo USA complaints about Chinese market barriers and industrial strategy.

The U.S. Treasury last week invited Chinese officials, including Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping, for more talks to try to resolve trade differences between the world's two largest economies.

He didn't answer directly when asked whether Beijing would back out if U.S. President Donald Trump goes ahead with a proposed tariff hike on $200 billion of Chinese goods.

"Tariffs have put the USA in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been nearly unnoticeable", Trump said.

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The US and China have already placed penalties of $50 billion worth on each other's goods.

China wants talks based on "mutual trust", said a foreign ministry spokesman, Geng Shuang.

American industry has come out strongly against Trump's tariffs, saying cost increases could raise prices for consumers.

"Only knowing the pain of fighting will stop the war and cause (the United States) to negotiate seriously", said Lou. But President Donald Trump last week ordered aides to move forward with tariffs on as much as US$200 billion in Chinese goods, and a 10 percent duty could be imposed as soon as Monday or Tuesday, according to five people familiar with the matter.

The Chinese government said last week it welcomed Washington's proposal for more talks, though neither side has given any indication it is willing to compromise.

Other commentators have suggested Beijing use its holdings of USA government debt or target American companies in China. He is a former chairman of China's sovereign wealth fund, the China Investment Corp. In previous rounds of anti-China tariffs, it has taken one to two weeks to make list revisions and another two to three weeks to begin collecting tariffs. I think the basic stories are probably more or less correct.

A gauge of global equity markets eased and the dollar slipped on Monday as an expected new round of tariffs from Washington on Chinese goods made investors skittish about an escalation of a U.S. -Sino dispute over trade.


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