China Issues Retaliatory Tariffs as Trade Fight Heats Up

[Steeleballz 7,550]

By 

Bob Davis in Washington and

 

Lingling Wei in Beijing

Updated June 15, 2018 3:39 p.m. ET

612 COMMENTS

 

Beijing retaliated against planned U.S. tariffs on Chinese goods by targeting high-value American exports—including farm products, cars, and crude oil—stepping up the potential for a trade war between the world’s two biggest economies.

Shortly after the Trump administration unveiled plans Friday to impose tariffs of 25% on $50 billion in Chinese products, China’s State Council announced it would levy penalties of the same rate on the U.S. goods of the same value.

The U.S. is “provoking the trade war,” China’s Foreign Ministry spokesman Lu Kang said Friday, while pledging to defend the country’s interests.

In striking back at the U.S. action, China expanded the list of U.S. products that would be subject to tariffs to 659 types of goods, from some 106 types it originally disclosed in April. Most of the added goods on China’s retaliatory list are agricultural, seafood and energy products. President Donald Trump said earlier Friday that the U.S. will respond with more tariffs if China retaliates.

 

  https://www.wsj.com/articles/white-house-announces-tariffs-on-50-billion-of-goods-from-china-1529065534

[The Nature Boy 7,659]

going to hurt them more than it will us 

[Steeleballz 7,550]

6 minutes ago, Nature Boy Flair said:

going to hurt them more than it will us 

 

  In isolation it might. If we have tariffs and retaliatory tariffs with and against all these countries and they don't have them with each other, the cumulative effects from each of those little bits of hurt is going to add up. In the end we will almost certainly get the worst of it. 

[jg121783 3,915]

Who's retaliating against who here? If someone punches you in the face then you punch them back then they punch you again they are not the one retaliating. You are. China tariffs on us first so our tariffs are a retaliation not China's.

[The Nature Boy 7,659]

1 hour ago, jg121783 said:

Who's retaliating against who here? If someone punches you in the face then you punch them back then they punch you again they are not the one retaliating. You are. China tariffs on us first so our tariffs are a retaliation not China's.

It is really that simple 

[Steeleballz 7,550]

1 hour ago, Nature Boy Flair said:

It is really that simple 

 

   Yeah, except it's not. Trump should have stuck to construction. We have an aging infrastructure and he has experience. He could have actually accomplished something by sticking to what he knows.

 

   As far as the global economy, it's pretty obvious he doesn't know and doesn't listen either. I know it's an election year and Trump wants to look tough, but American protectionism is not going to be constructed in a vacuum. If it was just the US and China, we might come out ahead. Stupid move with the G7 countries is going to come back and bite us. It's not the first time we've tried to do this. Might want to study what happened at the start of the great depression.