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Trump Hits China With Tariffs on $200 Billion in Goods, Escalating Trade War

President Trump, emboldened by America's economic strength and China's economic slowdown, escalated his trade war with Beijing on Monday, saying the United States would impose tariffs on $200 billion worth of goods and was prepared to tax all imports.

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Mr. Trump's decision is a significant escalation of an already serious trade dispute -- one with seemingly no end in sight. After months of failed trade talks, top officials from China and the United States were tentatively scheduled to talk later this month in Washington. But it is unclear whether Beijing will agree to come to Washington with the new tariffs set to go into effect.

Meanwhile ...

China to take countermeasure after US imposes new tariffs

China will have to take countermeasures to respond to the US' fresh tariff decision, in a move to safeguard the country's legitimate interests and the global free trade order, the Ministry of Commerce said on Tuesday.

and have followed-up with ....

China Sets Tariffs On $60 Billion In U.S. Goods, Retaliating Against U.S. Duties

Chinese state television on Tuesday reported that the government has decided to impose tariffs of 5 percent to 10 percent on $60 billion worth of U.S. products, starting on Monday. The tariffs will apply to 5,207 items.

also saying

"The Chinese side reiterates that the aim of imposing these tariffs is to prevent trade frictions from escalating and it is a measure of last resort against American unilateralism and trade protectionism," the Chinese state television report said.

According to a White House SpokesIdiot these tariffs will result in "we'll see more production here in the United States."  SpokesIdiot didn't address the fact the US manufacturing networks have been systematically destroyed making it impossible to produce goods now made in the PRC until those networks are replaced.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue Sep 18th, 2018 at 04:42:07 PM EST
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