Saturday, 17 November, 2018

Trump Orders Tariffs On More Chinese Products Worth $200 Billion

US reached out to China for new trade talks, sources say Running Out of Tariff Options, China Takes Aim at American Companies
Elsie Buchanan | 15 September, 2018, 03:21

"Our markets are surging, theirs are collapsing", he wrote.

Apple said last week the $200 billion round of tariffs could hit some of its most popular goods such as the Apple Watch and AirPods headphones.

"The administration is faced with the fact that if they go ahead with the US$200 billion, they will hurt the USA economy quite badly, and things are not going so well with the midterms", he said.

It happened just hours after the Chinese Ministry of Commerce said that they had received an invitation for talks from Washington.

This latest tweet underscores that concern. Some of them have criticized Trump's tactics but many echo US complaints about Chinese market barriers and industrial strategy.

Any talks would resume amid doubts over prospects for a diplomatic settlement.

Those who have done the numbers argue that a trade war would hurt China more than the USA.

Some in the administration are trying to restart talks to defuse the trade war, but Mr Trump said on Thursday the United States is under "no pressure" to strike a deal.

Ultimately, Trump and Chinese President Xi Jinping will likely need to haggle personally over any settlement, he said.

The White House is under enormous pressure from U.S. companies to resolve its differences with China swiftly before either country imposes more tariffs or restrictions that these firms argue could hurt growth and lead to lost American jobs.

Tropical Storm Helene to pass near the Azores
While now classified as a hurricane, Helene will be downgraded to a storm by the time it reaches the shores of Northern Ireland. Meteorologists are also keeping an eye on yet another tropical disturbance that's spinning in the western Gulf of Mexico.


Washington has proposed a fresh round of trade talks with Beijing to tackle problems before the Trump administration slaps more tariffs on Chinese imports, the Wall Street Journal said on Wednesday (Sep 12).

Trump and his advisers have argued that the tariffs are necessary to pressure Beijing to abandon unfair practices.

A new group, called Americans for Free Trade, composed of almost 100 trade associations, launched a campaign Wednesday to lobby lawmakers and organize nationwide events in opposition to Trump's trade policies. He also wants a sharp reduction in the $375 billion United States trade deficit with China.

The Trump administration is preparing to activate tariffs on US$200 billion worth of Chinese goods, hitting a broad array of internet technology products and consumer goods from handbags to bicycles to furniture.

In the ongoing trade dispute between the US and China, perhaps no companies are more affected than American automakers that are manufacturing their cars in China.

Separate rounds of talks between the White House and Chinese leaders have already faltered. But those talks also broke down.

"China trade war could last at least 10 years", reports Taiwan Business TOPICS.

As of June 30, almost 450 entities employed lobbyists on trade issues - up from about 160 at the start of the year and about 100 when Trump took office, according to lobbying-disclosure reports compiled by the nonprofit Center for Responsive Politics.

Mnuchin and Kudlow, meanwhile, have pushed for more dialogue, anxious about the potential impact on the economy if the existing standoff worsens.

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