November 14, 2018

Trump to propose 25-pct tariff on $200b of Chinese imports

04 August 2018, 12:47 | Austin Hogan

Trump to propose 25-pct tariff on $200b of Chinese imports

White House

Trump is seeking to ratchet up pressure on China for trade concessions by proposing a higher 25% tariff on US$200 billion worth of Chinese imports, his administration says.

'The increase in the possible rate of the additional duty is meant to provide the administration with additional options to encourage China to change its harmful policies and behaviour and adopt policies that will lead to fairer markets and prosperity for all of our citizens'.

Today, the USA is considering 25% tariffs on $200bn worth of Chinese goods, much higher than the 10% it previously indicated it might impose, BBC reported.

"The increase in the possible rate of the additional duty is meant to provide the Administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that will lead to fairer markets and prosperity for all of our citizens", he said.

"Importers may have ordered aggressively in June ahead of tariffs imposed this month by the USA and China", the port stated in a press release.

The U.S. imposed 25 percent tariffs on an initial $34 billion of imports from China on July 6, which then led China to respond with similar sized tariffs on U.S. products, according to Reuters.

The Trump administration is considering more than doubling its planned tariffs on $200 billion in Chinese imports, ratcheting up pressure on Beijing to return to the negotiating table, three people familiar with the internal deliberations said.

China announced Friday it will put tariffs on $60 billion of USA imports if the US moves forward with 25% tariffs on $200 billion goods.

"Any unilateral threat or blackmail is only going to escalate the conflict and hurt everybody's interests".

Manchester United To Fine Anthony Martial £180,000
United open their campaign against Leicester City on August 10, and the transfer window is set to close 24 hours prior. Asked if Fred can thrive in United's midfield, Irwin said: "I hope so because we need somebody in there".

Sterling stronger after the Bank of England raises rates
That was the first increase since January 28, 2014 when rates were hiked by a similar proportion to 8 percent. Adhil Shetty, CEO, "In June, several leading banks including SBI had increased their MCLR".

'Medicare for all' projected to cost $32.6 trillion
Looking ahead to the 2020 election, Democrats are debating whether single-payer should be a "litmus test" for national candidates. The study found USA health care spending under Sanders' plan would drop over time - about $300 billion lower in 2031.

The list, unveiled on Jul 10, hits American consumers harder than previous rounds, with targeted goods ranging from Chinese tilapia fish and dog food to furniture, lighting products, printed circuit boards and building materials.

"The escalating trade tensions have everyone in the industry concerned", said Port of Long Beach Executive Director Mario Cordero in a news release, although she also attributed high volumes to strong global economies.

China's Commerce Ministry said in a seperate statement Beijing's new set of proposed import tariffs on USA goods were rational and restrained.

The Chinese government did not specify what types of American products would be affected or when those tariffs would take effect. Beijing responded by imposing the same penalties on the same amount of US imports.

Geng said China's door to dialogue on the trade dispute is open, but that it had to be based on mutual respect and equality.

But the move drew swift condemnation from US business lobby groups anxious that tit-for-tat tariffs would start to hamper economic growth.

General Electric (GE.N) estimated the new tariffs on its imports from China could raise its costs by $300 million to $400 million overall, before steps to lessen the impact while General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) have lowered their full-year profit forecasts.

China's Foreign Ministry spokesman Geng Shuang reiterated at a regular news briefing in Beijing that the United States' efforts at "blackmail" would fail.

The US Trade Representative's office initially had set a deadline for final public comments on the 10 per cent proposed tariffs to be filed by August 30, with public hearings scheduled for Aug.20-23. It has typically taken several weeks after the closing of public comments for tariffs to be formally activated.

Other News

Trending Now

Trump shutdown threat falls flat in Congress fixated on avoiding budget battle
Most Republicans say they take Trump's threat seriously but are working to persuade him to change his mind. It's something we've tried before, both parties, it doesn't work.

China says fully prepared for USA threats on escalating trade war
The implementation could be delayed for weeks as the administration works out the details of which products it will target. Chinese officials responded early Wednesday to threats of higher tariffs by saying they would retaliate again.

Trump insults LeBron James on Twitter
The new Laker talked to Lemon about the new school he was starting, but the conversation often veered back to politics and Trump. During the summers, students will also be able to participate in a seven-week summer session that will include STEM-based camps.

Jennifer Lopez to Receive 'Video Vanguard Award' at the 2018 VMAs
The very first Vanguard awards were given to David Bowie , The Beatles , and Richard Lester in 1984 at the very first MTV VMAs. The moment also marks 19 years since Lopez was nominated for Best New Artist in a Video at the 1999 MTV Video Music Awards .

Kohli scores his first Test century in England
Yes, he was dropped twice but that does not take away from the fact Edgbaston got to witness a master at work. In the last Test match that India won against South Africa in January, Shami played quite a significant role.

Germany global Meyer moves to Palace
Meyer has also received a healthy signing on bonus as part of the deal and will meet up with his new teammates this week. Crystal Palace have completed the signing of Germany global Max Meyer following the expiry of his Schalke 04 contract.

Moto Z3 debuts with fingerprint scanner on the side, 5G mod
Another perk of attaching the 5G Moto Mod to the Moto Z3 is that it will give you an additional 2,000mAh of capacity. The Moto Z3 will be available exclusively through Verizon Wireless in the USA and will begin shipping on August 16.

China stands its ground after Trump amps up tariff threats
The Trump administration released a preliminary list of goods that could be subject to this wave of tariffs. Officials in Beijing have vowed to respond with the same amount of tariffs on USA products.

Facebook removes 32 accounts ahead of United States mid-term elections
For example, while IP addresses are easy to spoof, the IRA accounts we disabled past year sometimes used Russian IP addresses. Facebook has not yet officially attributed these fake accounts and pages to the IRA or the Russian government, like in 2016.

Andy Murray opens up on living hell
Both held serve until the ninth game, when McDonald sent a forehand wide to hand Murray the break and a 5-4 lead. American Noah Rubin's powerful serving overwhelmed Russian Mikhail Youzhny .