Neon Nettle
© 2019 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Our Writers T&C's Privacy Support Us © 2019 Neon Nettle All Rights Reserved.

China Hits Back At Trump: Imposes Tariffs on $75 Billion of U.S. Goods

Trade war shows no signs of slowing down after China's announcement

 on 23rd August 2019 @ 6.00pm
additionally  china will also move forward with plans to impose tariffs on u s  vehicles and auto parts © press
Additionally, China will also move forward with plans to impose tariffs on U.S. vehicles and auto parts.

President Donald Trump's trade war with China has changed up a gear after the country announced it would impose new tariffs on $75 billion of U.S. products. 

The new tariffs will range from 5 percent to 10 percent, covering U.S. goods that have not been previously hit with tariffs.

Additionally, China will also move forward with plans to impose tariffs on U.S. vehicles and auto parts.

Retaliation

The new tariffs are an unsurprising response to Trump administration’s decision to impose $300 billion worth of tariffs of Chinese goods.

the escalating trade conflict began more than a year ago when the u s  accused beijing of stealing technology © press
The escalating trade conflict began more than a year ago when the U.S. accused Beijing of stealing technology

The escalating trade conflict began more than a year ago when the U.S. accused Beijing of stealing or pressuring American companies to hand over their technology to their competitors, among other grievances.

In May, Trump said Chinese President Xi Jinping had sent him “a very beautiful letter” and that he would probably speak with him on the phone.

Trump has routinely accused China of taking advantage of American trade policies but said a trade pact could be imminent.

The Chinese tariffs will take effect in two waves.

The first on September 1 and the second on December 15.

the president has been piling on he pressure to get the fed to cut interest rates by as much as a full percentage point © press
The president has been piling on he pressure to get the Fed to cut interest rates by as much as a full percentage point.

The date matches the same periods the new U.S. tariffs are set to be imposed.

But the announcement seemed to catch Trump administration officials off-guard.

White House economic adviser Larry Kudlow spoke positively trade negotiations with China on Thursday, saying he expected further face-to-face talks to be held in Washington, D.C. in September.

Also caught off guard were the financial markets.

Stock futures showed stocks would weaken when markets opened.

Trump seemed to be reacting to the news when he tweeted that the Federal Reserve should “show their stuff.”

The president has been piling on he pressure to get the Fed to cut interest rates by as much as a full percentage point.

Fed officials signaled they might cut rates if trade tensions worsen, which they have.

China imports far less from the U.S than the U.S. does from China.

This means China’s ability to damage the US is limited, at least through tariffs.

Chinese Billionaire: America Will ‘Suffer More’ Than China In Trade War

Share this post:

Facebook is heavily censoring information from independent sources.

To bypass internet censorship, connect with us directly by enabling our notifications (using the red subscription bell in the bottom right corner) or by subscribing to our free daily newsletter.

Get the latest news delivered straight to your inbox for free every day by signing up below.

SUBSCRIBE NOW

Subscribe to our mailing list

Whatfinger banner

Follow Neon Nettle


PREV
BOOKMARK US
NEXT