* The U.S. imposes tariffs on $34 billion of annual imports from China.
* This prompts Beijing to respond in kind with levy tariffs on U.S. imports.
* China's soy meal futures plunged over 2 percent during Friday afternoon trade in Asia before recovering most of its losses, amid market confusion over whether Beijing had actually implemented tariffs on soybeans and other U.S. goods.
China immediately slapped retaliatory tariffs on U.S. imports on Friday after the U.S. imposed dutieson $34 billion worth of Chinese products, signaling the start of a full-blown trade war between the world’s two largest economies.
President Donald Trump’s administration imposed the promised tariffs at midnight Washington time. That prompted Beijing to respond in kind with levies on U.S. imports.
China's Foreign Ministry said did not provide any immediate detail on the implementation or scale of these charges, but the Communist Party newspaper People's Daily said they were imposed on a $34 billion list of goods issued last month that included soybeans, pork and electric vehicles.
Read more ....
U.S. - China Trade War Begins -- News Updates July 6, 2018
The Latest: China files another complaint to WTO over US -- AP
China blames U.S. for 'largest-scale trade war' as tariffs kick in -- Reuters
China hits back after US imposes tariffs worth $34bn -- BBC
China retaliates with tariffs after US begins trade war -- The Guardian
US, China fire first shots in 'largest trade war in economic history' -- AFP
Trade War begins: US and China exchange $34 billion in tariffs -- CNBC
China warns of 'biggest trade war in history,' vows 'counterattack' against US tariffs -- DW
China: The US has started 'the biggest trade war' in history -- CNN
The trade war begins: Beijing warns of 'counterattack' after the America hikes tariffs on Chinese imports starting TODAY -- Daily Mail
China accuses US of launching the 'largest trade war in history'; hits back with tariffs -- Asia One
China accuses Trump of launching ‘the biggest trade war in economic history’ -- The Hill
Confusion as China Ports Delay U.S. Cargoes, Disrupting Trade -- Suceesful Farming
Donald Trump raises stakes as US-China trade war begins -- BBC
Trade wars: More US tariffs expected on Chinese imports -- Al Jazeera
US-China trade war could drive prices up and growth down -- AP
7 comments:
China will be in panic mode soon..I give it a few months and people will call for Xi to be gone..those people will be thrown in prison, of course, but it can't be stopped. The only thing that China can do to save face is cause a change in North Korea or Taiwan to distract from all this
The chinese might discover that they don't have the means for a trade war but they cannot bow because that would mean losing face.So the only solution is to react somewhere else.Hmmm i think Taiwan will soon be in a bit of a pickle.
Prices will go up a little from their deep discounted ones. Consumers may accept them with a grumble. I'm not sure we have to worry about Taiwan yet.
Love the comments! Gett'um DT! Gett'um!
I wonder how many countries, if any, will start to renege on their government's selling off of their countries' citizens' resources [while taking their cut for such hard work, of course].
This looks like building snowmen in Death Valley in the winter. Kinda short sighted. The Chinese mercenary economic model was meeting resistance before DT's entrance on the world stage I've read.
They ain't your friend. The smiles are fake.
" Anonymous Anonymous said...
China will be in panic mode soon..I give it a few months and people will call for Xi to be gone..those people will be thrown in prison, of course, but it can't be stopped. The only thing that China can do to save face is cause a change in North Korea or Taiwan to distract from all this"
I've been thinking this for a few weeks now. My guts tell me that Kim is getting set up for a fall.
China needs a war to distract the masses and women for all of the excess single Chinese men.
An occupied North Korea would supply both.
Anon,
There is a down side to invading NK, even for wives; their troops will come home with tapeworms.
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