BBC: Trump threatens additional $200bn in tariffs on China
US President Donald Trump has threatened to impose tariffs on an additional $200bn (£151bn) of Chinese goods in a growing trade row.
Mr Trump said the 10% tariffs would come into effect if China "refuses to change its practices".
The move would be a major escalation of the dispute, which threatens to take the US and China into a trade war.
China responded by accusing the US of "blackmail" and saying it would match any further tariffs.
Mr Trump insists that China has been unfairly benefitting from a trade imbalance with the US for years.
Last week, he announced the US would impose 25% tariffs on $50bn worth of Chinese goods.
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WNU Editor: Now we are talking about real money, and China is threatening to respond .... China accuses Trump of 'blackmail' after new tariffs threat (AFP). More here .... China Vows to Retaliate as Trump Targets $200 Billion in Tariffs (Bloomberg).
More News On President Trump Threatening $200 Billion In New Tariffs Against China
In tit-for-tat, Trump threatens more tariffs against China -- AP
Trump ratchets up China trade conflict with fresh tariff threat -- Reuters
Trump threatens China with new tariffs on another $200 billion of goods -- CNN
Trump calls for tariffs on additional $200B in Chinese goods as trade war ramps up -- The Hill
Trump threatens all-out trade war with China, tariffs on $200 billion worth of goods -- Business Insider
China accuses Trump of 'blackmail' after new tariffs threat -- AFP
China Vows to Retaliate as Trump Targets $200 Billion in Tariffs -- Bloomberg
5 comments:
Trump knows that china cannot afford it. Sure, a couple of months will be fine, and they like to talk the talk, but the entire political system in China depends on a good economy, otherwise the 1.5bn people will ask why the 50,000 or so that are directly or closely connected to the one party have all the money. Average income in China is like 18000usd ... that's almost poverty in Europe. Take out shanghai and a few other rich places and you realise that almost 1.3bn of the roughly 1.5bn live under 10,000/year. Also once the middle class sees their savings shrink, they'll panick because prices keep going up, not down. Every Chinese I know tells me the same thing: Chinese economic growth was always expected to end soonish. But not that soon(!!). They hoped for 5-6 more good years so they can save money for when they're older because they don't believe the government will help them at all. So once they realise the millions of jobs will be lost by this trade war, they will start going to the streets, social scoring system or not. On top, despite the great Chinese firewall the government uses to block information coming in, many Chinese -especially the wealthier ones-have travelled to Europe and the US and know how much better our systems are, despite our own troubles. So you'll also see brain drain and money drain away from China because no one believes China can win this fight. Just two years ago the odds looked differently but we now know china's economy is not as big as they pretended (they're just twice as big as German's economy lol and Germany does it with just 80 million people. .so yeah. .no Chance China can keep up..this fight is over, I've pulled my money already 2 weeks ago out of my china holdings lol...I saw where this is heading under Trump..America is back! )
China will win watch and observe
Haha yeah right
China has no chance to win, they will match our tactics for awhile but once factories start closing and job go away, once money starts getting scarce, China will be forced to deal. The US has lots of alternatives and if China is not careful they could loose more than they bargained for; they could loose their manufacturing base they have built up over the years.
How much of housing market is leveraged on Chinese margin and debt...... wonder if there could be housing market blowback here in Canada when those rich Chinese start selling to cover the debt in the mainland. Just some food for thought.
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