In an unexpected Friday development - President Trump began the process of raising tariffs on all remaining imports from China, valued at approximately $300 billion. The move follows a Friday tariff increase on Chinese imports from 10% to 25% effective just after midnight.
US Trade Representative Robert Lighthizer issued a Friday statement - after market hours of course - which reads:
“Earlier today, at the direction of the President, the United States increased the level of tariffs from 10 percent to 25 percent on approximately $200 billion worth of Chinese imports. The President also ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.”
Lighthizer noted that the process for a public notice and comment period on the tariff decision will be published shortly in the Federal Register, while more details will also be made available on the USTR’s website on Monday.
Meanwhile, trade talks between China and the US appear to have stalled once again on three areas, according to Bloomberg - including whether the US would remove the increased tariffs, targets set for US imports which Beijing deems unrealistic, and finally - the wording of the trade agreement itself.
For those keeping track, here is a timeline of the trade war via Rabobank:
via zerohedge
Trump Pulls The Trigger: Begins Process Of Raising Tariffs On All Remaining $300 Billion China Imports
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GOOD
Until President TRUMP deals with China successfully the way he intends to
I will successfully live with his successful tariffs
he knows what he’s doing
Amen & Amen!!!
Had to be done…
It’s about time we have a president with a pair rather than wusses like Obozo, Bush and Clinton!
Unnecessary
GREAT DECISION……….
PRESIDENT TRUMP IN 2020……..
Maybe we should be looking into other places to buy these products. My experience with Chinese made products is that they are inferior, unregulated, often dangerous to one’s health, and often don’t last as long as goods we can get from other countries. Besides who wants to support a nation that traditionally cheats, cuts corners and uses virtually slave labor to produce their products? For example, buy a leather sofa from china and it may last 3-5 years. Buy a leather sofa from Italy, pay twice as much and have it last 15-20 years. Do the math. I speak from personal experience!
This only makes sense as a long term policy. It should be accompanied by other measures to stimulate manufacturing in the US. There’s a lot to be said for the pride and security of manufacturing our own products, but it’s going to change the price structure — less cheap stuff. And we can expect China to be more belligerent toward the US in international relations, if we are no longer to be a major consumer of their products.
I heard Trump say something like 25% increase. I’d rather see 35 or 40% increase so they know it’s not just more play time like it has been in the past.
USA 1st! China has been ripping US off by demanding corporations give up control of the products they produce using cheap labor in China. China is not a Christian country although many of their citizens are oppressed. Many atrocities which are overlooked by MSM & previous World leaders. Nixon did more than just take US off the Gold Standard. We have reaped benefits of cheap goods from China but have drained our citizens bank accounts, value of dollar & depressed family values resulting in chaos in our communities.
The big ass speaks again!!
China’s trade practices are expressly predatory. Anyone with two firing brain synapses could have seen this coming.
Would you like some industrial espionage with your “trade”? They do that, too.
Vote FOR PRESIDENT TRUMP IN 2020 WE CAN DO THIS VOTE TRUMP STAND UP FOR AMERICAN VOTE Republican . Republican
Keep the pressure on China… they have proven themselves cheaters so only an ironclad trade agreement will do. It is ABOUT DAM TIME, that we have a President with the balls to stick it to China…two can play hardball 🇺🇸🇺🇸🇺🇸🇺🇸
China thinks they can just stall until the next US Presidential election. What happens if Trump wins that? In the meantime, they’ll have a lot of unemployed people.
My good “Merrill” trail shoes are marked “Made in Vietnam”. My shirt is labeled “Made in Dominican Republic From US Cotton.” I’m not taking anything else off, but you get the point. Other suppliers can clearly take up the slack.
I have tried for over a decade to avoid buying Chinese-made goods. I once saw frozen crawdads at Wal Mart, and on looking at the packaging, noticed they were from China. There is absolutely no way I would eat anything out of a Chinese river or lake. Too much industrial pollution in the water over there, and I’m not trying to get cancer.
This is a good opportunity for The South and Central America Countries including Mexico to partner with US and stop China’s expansion ambitions, and at the same time it may be an option to minimize the Immigration issue. We need good leaders with vision in South and Central America