Thursday, August 1, 2019

President Trump Announces New 10 Percent Tariff On $300 Billion In Chinese Goods



Reuters: Trump threatens new tariffs as U.S.-China trade tensions spike again

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday moved to impose a 10% tariff on a remaining $300 billion list of Chinese imports starting Sept. 1, after U.S. and Chinese negotiators failed to kickstart trade talks between the world’s two largest economies.

The levies - which would hit a wide swath of consumer goods from cell phones and laptop computers to toys and footwear - ratchet up tensions in a war of tit-for-tat tariffs that have disrupted global supply chains and roiled financial markets for more than a year.

U.S. stocks fell after the news and oil prices plummeted, and further fallout was expected. The IMF has warned that tariffs already in place will shave 0.2% off global economic output in 2020.

Read more ....

WNU Editor: I am hearing a collective sigh of resignation from Beijing right now.





More News On President Trump Announcing A New 10 Percent Tariff On $300 Billion In Chinese Goods

Trump says he’ll put 10% tariffs on remaining China imports -- AP
Trump says he could raise tariffs on $300 billion of Chinese goods above 25% -- CNBC
Trump says the US will slap tariffs on virtually all Chinese imports next month -- Business Insider
Trump says he will go ahead with new China tariffs that would hit iPhones and toys -- CNN
Stocks turn negative on Trump's new China tariffs -- The Hill
Trump Ignored Mnuchin Advice To Give China Early Notice On New Tariffs -- Zero Hedge

7 comments:

K said...

I'm glad he's doing this to the communist government of China.

Mike Feldhake said...

Needs to be done, these Chinese are NOT playing fair and expect US to bend. Why!? Because we have for years do this systemic issue will take some time. Hopefully, Trump is re-elected else the dumb Dems will give in then blame Trump. Ugh 😡

Mike Feldhake said...

"...years. Due to this..."

Anonymous said...

Who could Trump lose to? Realistically? There is only one direction these negotiations can go for at least another 4 years. They could possibly wait it out that long, but the tariffs will only increase for the time being.

Anonymous said...

K good example of retard

Bob Huntley said...

...

Haruka said...

I'm fine with the tariffs but goddamn Trump, why'd you have to do it during trading hours when SPY was recovering from Powell talking........