U.S.-China trade war escalates as Trump administration’s new tariffs take effect

U.S.-China trade war escalates as Trump administration’s new tariffs take effect


Trade tensions are reaching fever pitch between
the world’s two economic superpowers. Turning the screw even further on Beijing,…
new U.S. tariffs on tens of billions of dollars of Chinese goods took effect on Monday. Ko Roon-hee reports. The Trump administration’s trade offensive
against China has kicked up a gear,… after new 10-percent tariffs on 200-billion U.S.
dollars worth of Chinese goods came into effect on Monday. Combined with the existing 50 billion dollars
of tariffs imposed on Beijing,… the move means the United States now has tariffs on
roughly half of the goods it imports from China. The new tariffs will directly affect American
consumers as they are applied on more than five-thousand-seven-hundred items,… including
daily necessities like food, clothing, furniture, and electronics. The two sides remain oceans apart on reaching
a resolution… as China announced earlier its intent to retaliate on the same day…
by imposing five to ten percent duties on 60 billion dollars worth of U.S. goods. More than five-thousand-two-hundred products
will be affected,… ranging from food to liquefied natural gas. A further escalation is already on the horizon
because President Trump has indicated the new 10-percent duties will rise to 25-percent
in January 2019. Moreover, he stated his administration would
impose additional tariffs on approximately 267 billion dollars of additional imports
if China chooses to retaliate. Trade negotiations are also breaking down. According to Reuters, U.S. officials revealed
on Friday that no date has been set for further trade negotiations with China. Also, China recently canceled Vice Premier
Liu He’s visit to Washington,… during which he was due to talk trade. This comes as the Chinese government released
white paper on Monday to explain its stance on the intensifying trade friction with the
U.S. According to China’s state-run Xinhua News
Agency, the white paper said the trade relationship between the two countries is significant for
the world’s economy. It said some level of trade friction is natural….but
stressed that enhancing mutual trust and promoting cooperation is necessary. Ko Roon-hee, Arirang News.

21 comments

  1. Trump wants fair and reciprocal trade. It's not that hard to understand.. China has been fucking over and getting rich from the USA for decades now. We've lost too much money to China due to bad trade policies. No more! The USA is clearly winning the trade war. Look at our stock market. It just keeps going up and up! While China has suffered great losses and has now fallen behind Japan!

  2. China anticipated the day the war with US, either military or trade, will come sooner or later.
    Luckily China has built up defensive islands around SCS few years ago.

  3. Americans need to start Christmas shopping early. Take the time to buy gifts not made in China. Share online your favorite brick and mortar store or web site that sells not made in China toys, clothing or sporting goods. Example: Aurora Miyoni sells quality stuffed animals made in south Korea (Amazon). Let's make this a very merry Christmas for countries other than China. HO-HO-HO!!

  4. I’m not a citizen from any of these countries, but if i were to give comment as a judge i would say China are the ones in the wrong. They seem to want it all their own way. Trump is doing his best to look after his own people which to put it bluntly is his job.

  5. https://www.regulations.gov/document?D=USTR-2018-0026-0001
    Food is going to be 25% more end of year it 10% now. 10 food item what use to cost 20 buck will cost 40 buck. Next yr that same 10 item now 20 buck will cost 50 buck to eat.
    China is the south sea country importer and wholesaler and own the fleet of fishing and packing factory that stay at sea feeding the world. Flour, battered, breaded baked fried pkg. the joke on you. Corporation got a gift tax break as did the rich who own larges shares of stock. The oil company got oil back at the 60-89 range from the cancel Iran deal. 5 # producer. From the 40-60 range, you are paying back your pay increase in gas prices.
    And a few days ago they said they are planing to borrow from S.S to balance the budget.
    That the 500 billion shortage given every year to corporation. And now you will pay more to eat sea food. Where is the company’s building the new products?

  6. China always pursue win-win cooperation. But USA wants lose-lose!
    History will remember: Trump stated recession (peaked in various areas–> then going down) in 2018!
    Yes, he may make records (stock, employment/unemployment rate, deficit, growth) in USA, but too short-sighted!
    Sustainable? may be very difficult!

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