Better bring 'em over here so we can check 'em out!"
Posted on 04/03/2016 2:51:45 PM PDT by Lorianne
China has levied huge new tarrifs on a type of steel produced by Britain despite David Cameron personally challenging the country’s president to help save UK steelmakers, it emerged yesterday.
The Prime Minister used a dinner at the White House to confront President Xi Jinping over the possible extinction of the UK steel industry due to Chinese dumping.
However it later emerged that China will levy a 46 per cent duty on a type of high tech steel made by just 16 producers worldwide including Tata Steel's Cogent subsidiary in Newport.
China’s decision comes after the European Union imposed tariffs of up to 13 per cent on steel from the country used to reinforce concrete earlier this year.
The development raised the pressure on Britain to better protect the country’s steel manufacturing amid fears 40,000 jobs could be lost as Tata Steel looks to sell off its UK business.
It came amid reports Tata is pulling out of Britain in order to smooth a merger with German engineering conglomerate Thyssenkrupp. Credit Suisse analysts said Tata’s planned exit from the UK was a prerequisite to any potential deal with Thyssenkrupp.
Sajid Javid, the Business Secretary, yesterday travelled to Port Talbot in South Wales to meet managers and face the anger of hundreds of workers over the government’s handling of the crisis.
Speaking to journalists during a trip to Washington DC, the Prime Minister dismissed claims made by Nick Clegg that Britain was protecting its relations with China and explained the government’s position on tariffs.
Mr Clegg, the former deputy prime minister, had said: “George Osborne has put his special relationship with China above the UK's best interests.”
(Excerpt) Read more at telegraph.co.uk ...
China racked up yet another new, all-time trade surplus against America last year.
And worse yet, America’s exports to China actually FELL last year.
http://www.census.gov/foreign-trade/balance/c5700.html
I guess we will watch as China’s economy tanks, since that is the claim of what will happen if Trump gets elected and enacts tariffs on China.
Must be an example of that “Free Trade” folks claim we already have in place.
Everyone knows journalists know everything about everything.
Pray America wakes
Whatever tariff imposed upon US should result in the same tariff imposed on that country, times two.
I haven’t favored up to now, but whenever I read news like this I sway toward him.
It’s not China we have to battle, it’s the U.S. corporations that want their cheap labor AND no cost access to American consumers.
“It’s not China we have to battle, it’s the U.S. corporations that want their cheap labor AND no cost access to American consumers.”
IMHO, it is both.
I thought Donald was the only one instigating trade wars?
Or, alternatively, it is an example of reality. And folks trying to blame “free trade” for it.
Prepare yourselves for post-election economic collapse and government defaults.
That’s my point, people think we have “Free Trade” when it’s the furthest thing from it.
Sorry, but it’s the protectionists that prefer to blame “free trade” where it does not exist.
What makes you think if we tariff their goods that our exports to China will increase?
Tata, like most Indian and Australian companies, has been riding the internal spending growth wave there for years. US companies have not because they can't compete nor will the Chinese let them compete.
Now that spigot is shutting so here's the result. Beijing is going into defensive mode.
But is Trump going to automatically make China import our goods? Of course not, they don't need US product, Germany and the PacRim handle that. All he'll do is make it more expensive for the US consumer.
Just look to 2002 and the steel tariffs for proof.
The Chi-Comms have no compunction about imposing tariffs.
American "free-traders" wetting themselves.
Well what we are doing now is economic suicide.
Our “leadership” is all sold out.
Both parties. All of them.
Sure the trade agreements with some countries can be re-set but as far as China goes......they make most of the cheap stuff we consume and we have no domestic offset to those goods.
No, we are not going to start making cheap plastic toys and t-shirts here because no company can afford the labor and no, robotics is not going to help either.
The only way to get at China is to increase trade with other PacRim nations and force their hand.......this will encourage them to allow for more JVs internally and, most important because it's very hard now, we must force them to let US profit leave the country.
How? Simple, stop allowing them to invest here. Stop allowing them to buy US companies, stop allowing them access to our market via OUR domestic concerns.
That’ll help for sure.....won't solve it but it will help.
Trump's plan about tariffs and threats is pure folly.
China makes a heck of a lot more than “cheap plastic toys and t-shirts”.
Give me a freaking break.
“Cheap plastic toys and t-shirts”, my foot.
You sound like a propagandist. Really. Maybe you are just quoting your honest personal opinion. Perhaps you are simply thinking China is a backward low-cost bulk manufacturer.
China is eating our lunch, off our own table.
And NOBODY is saying one single thing about it.
Except Trump.
He is, finally. After this has been going on now for the entire last generation.
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