Ose $200 billion in tariffs on China from September 24th

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

The U.S. Treasury had invited Chinese officials, including President Xi Jinping's top economic adviser, to attend talks in Washington this week.

In response to President Trump's threatened tariffs, Beijing has teed up tariffs of five to 25 percent on $60 billion of USA goods including pig hides, cocoa butter and condoms.

"Collection of tariffs on the long-anticipated list will start September 24 but the rate will increase to 25 percent by the end of 2018, allowing U.S. companies some time to adjust their supply chains to alternate countries, a senior administration official said".

Economists at UBS Group AG say even a 10 percent tariff would slow the United States economy in the fourth quarter by enough to stop the Federal Reserve hiking interest rates again in December.

But China said it would turn down the offer if the United States went ahead with more tariffs, CNN said. "But, so far, China has been unwilling to change its practices".

The list slated for tariffs originally included more than 6,000 items, but United States officials later removed about 300 types of items, including smart watches, bicycle helmets, play pens, high chairs and baby vehicle seats. Some companies are looking to move out of China to dodge the tariffs, said Ted Murphy, a partner at the Baker McKenzie law firm.

Trump has also complained about America's gaping trade deficit - $336 billion previous year - with China, its biggest trading partner.

United States companies have already said they are anxious about the effect of higher costs on their businesses.

Trump has always been fiercely critical of China, accusing it during the 2016 campaign of "the rape" of the American economy and vowing to create a more balanced trade pattern.

Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China.

According to a preliminary list of goods released by the US Trade Representative's office in July, in just a few examples, Washington is considering putting tariffs on roughly $40 billion in Chinese-made voice data receivers, computer memory modules, automatic data processors, and accessories for office equipment such as copiers and bank note dispensers - instantly making widely used goods more expensive.




"Frankly, it's going to make us a much stronger, much richer nation".

The decision throws into doubt efforts to reach a diplomatic breakthrough in the conflict.

Trump also warned in a statement on Monday that if China takes retaliatory action against USA farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports".

China is one of Apple's largest markets, and the tech giant said increasing tariffs on Chinese goods could harm its business.

The lack of unity within the USA administration on trade isn't new - Chinese and American officials have held a series of talks over the dispute, and reached at least one agreement which was subsequently abandoned by the president.

He was expected to level tariffs on about $200 billion of Chinese imports, and China has said it would retaliate.

Parker said the Government did not believe the effect of the tariffs on New Zealand - for example from more costly imported goods - would be large "and neither do we think there will be any large benefit to New Zealand".

Writing in the 1930s, Leon Trotsky explained that the interdependence of every country in the global economy meant that the program of economic nationalism, of the kind now being practised by the Trump administration, was a reactionary "utopia" insofar as it set itself the task of harmonious national economic development on the basis of private property.

Larry Kudlow, director of the National Economic Council, speaks during a meeting at the Economic Club of New York, Sept. 17, 2018, in New York.

"Tariffs are a tax on American families, period", said Hun Quach, RILA´s vice president for worldwide trade.

Recommended News

  • Brett Kavanaugh Accuser Opens Up About the Alleged Sexual Assault

    Brett Kavanaugh Accuser Opens Up About the Alleged Sexual Assault

    Feinstein said she referred the matter to the Federal Bureau of Investigation and that the woman had requested confidentiality. The pressure to vote against Kavanaugh from female voters, who are already highly mobilized against Trump, might ramp up.

    Hurricane Florence: North Carolina family's garage submerged in water

    Craven County Emergency Services has reported impassible roads due to flooding; downed power lines; and trees on cars. The storm continues to very slowly move west and inland, and will continue to impact the region through the weekend.
    Browns release wide receiver Josh Gordon

    Browns release wide receiver Josh Gordon

    The Browns announced they will release wideout Josh Gordon . Josh Gordon's time with the Cleveland Browns is over. Gordon had just rejoined the team on August 18.
  • Lionel Messi hat-trick gets Barcelona off to a flyer

    Lionel Messi hat-trick gets Barcelona off to a flyer

    Briefly teammates with Messi at Barcelona between 2005-06, Van Bommel didn't hold back in Monday's news conference. Here's to lots more Messi magic in the Champions League this season. "I never thought I would".
    Trump taunts USA  media over Obama error

    Trump taunts USA media over Obama error

    Sherrod Brown, who faces a challenge from Republican Jim Renacci (reh-NAY'-see), a congressman from Wadsworth. He said many OH farmers "have money in their pockets" because of Cordray's work at the consumer bureau.
    London Mayor Pushes For Second Brexit Vote

    London Mayor Pushes For Second Brexit Vote

    Mr Johnson has always been critical of Mrs May's Chequers plan, resigning in July alongside then-Brexit Secretary David Davis. The Prime Minister delivered the warning to her political opponents - including her ex-Foreign Secretary Boris Johnson .
  • Firmino discharged from hospital following eye injury scare

    Firmino discharged from hospital following eye injury scare

    The Reds have had a sublime start to the season under Klopp and have already established themselves as leaders in the Premier League after winning all their games so far.
    Nintendo unveils $60 wireless NES controllers for the Switch

    Nintendo unveils $60 wireless NES controllers for the Switch

    For individual memberships, one, three and 12-month subscriptions will cost $3.99, $7.99 and $19.99, respectively. Afterwards, it will no longer be possible to unlink your Nintendo Account from your Nintendo Switch user profile.
    #CrimeStats: 57 people die each day in SA, says Cele

    #CrimeStats: 57 people die each day in SA, says Cele

    The increasing murder rate in South Africa has left the country's police minister comparing the nation to a "war zone". In Dundee, 17 murders were reported over the period (2017/2018 financial year) an increase of two cases.
  • Maurizio Sarri says City and Liverpool are better than Blues

    Maurizio Sarri says City and Liverpool are better than Blues

    That's what is important. "I think there are three teams worse than us [in the division]". So I have to organise them better defensively and the players have to understand that'.
    Apple Watch likely to become medical device

    Apple Watch likely to become medical device

    All this without culling the fantastic workout features of the Apple Watch 3, many of which are still present in the Series 4. When it comes time to pair your Apple Watch Series 4 with your iPhone, you'll need to use the Apple Watch app for iOS .
    Trump signs executive order to impose sanctions against any election interference ZlotoNews

    Trump signs executive order to impose sanctions against any election interference ZlotoNews

    But the order received a lukewarm reception from bipartisan lawmakers pushing for a new sanctions law. Coats warned last month that Russian Federation is trying to interfere in the 2018 midterm elections.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.