CNBC: US and China exchange new trade war blows as latest round of tariffs takes effect
* U.S. President Donald Trump's administration levied tariffs of 10 percent on $200 billion of Chinese products that include furniture and appliances, with the rate set to increase to 25 percent by year-end.
* In response, Chinese President Xi Jinping's government imposed taxes on 5,207 kinds of U.S. products, valued at about $60 billion.
* Many now expect the White House to go ahead with yet another round of tariffs.
The latest round of tariffs targeting U.S. and Chinese goods went into effect Monday, raising the stakes in an escalating trade war between the world's two largest economies.
President Donald Trump's administration levied tariffs of 10 percent on $200 billion of Chinese products that include furniture and appliances, with the rate set to increase to 25 percent by the end of the year. It is Washington's third tranche of China-focused levies and part of a strategy to pressure Beijing into changing trade practices that Trump has claimed hurt American companies.
Read more ....
WNU Editor: This is not going to end.
More News On Huge US-China Tariffs Taking Effect Today
US, China hike tariffs as trade row intensifies -- AP
U.S. and China clobber each other with biggest sets of tariffs yet -- Washington Post
Huge US-China punitive tariffs take effect -- DW
Pompeo on China trade war: 'We are going to win' -- France 24
1 comment:
WNU; it will end, the Chinese will be forced to negotiate to save face. I can't imagine the impact in China right now but this cash cow is going away for them. However, if the Dems somehow get back control of one chamber of congress; I imagine it will complicate this process. Simply put; China needs to deal with fairness with its neighbors.
Post a Comment