Posted on 08/02/2019 11:16:40 AM PDT by ifinnegan
China yesterday threatened retaliation if US President Donald Trump’s planned tariff hikes go ahead, while the renewed acrimony between the two biggest global economies sent stock markets tumbling.
The Chinese government accused Trump of breaching his June agreement with Chinese President Xi Jinping (習近平) to revive negotiations aimed at ending a costly fight over Beijing’s trade surplus and technology ambitions.
Trump rattled financial markets with Thursday’s surprise announcement of 10 percent tariffs on US$300 billion of Chinese imports, effective Sept. 1.
That would extend punitive duties to everything the US buys from China.
If that goes ahead, “China will have to take necessary countermeasures to resolutely defend its core interests,” Chinese Ministry of Foreign Affairs spokeswoman Hua Chunying (華春瑩) said yesterday.
“We don’t want to fight, but we aren’t afraid to,” Hua told a regular news briefing.
She urged Washington to “abandon its illusions, correct mistakes and return to consultations based on equality and mutual respect.”
(Excerpt) Read more at taipeitimes.com ...
"China is about to run out of US imports for retaliation due to their lopsided trade balance. It last year imported about US$160 billion of US goods."
Ha!
And:
"However, regulators have extended retaliatory measures to include slowing down customs clearance for US companies, and putting off issuing licenses in insurance and other fields."
China's a gangster country with Chinese Communist Party gangsters running it.
Quite right! That's the way I've always looked at them.
Strange - The oil market dropped close to $7.00 a barrel when President Trump expanded the tariffs. The markets have adjusted and are back to where they were before.
I do not think that investors believe China this time.
“we don’t want to fight...”
LOL - China was already screwing us every way possible before this started. They have nothing to fight with.
We were so stupid we (the US govt) was even paying for the shipping for Chinese goods. Billions a year. We paid their shipping.
How could US companies possibly compete?
China needs US trade and everyone knows it. I’m not a fan of tariffs but President Trump is right to demand that China lowers trade barriers and halts IP theft.
Hopefully Trump will pound China at the WTO also ,LOL
No matter. The story plays out and ends the same. Trump won’t blink; and they need us more than we need them. Next case.
China brinked
What are they going to do, stop selling their junk to us?
Now that’s brinksmanship Secy Dulles would be proud of!
I think they scrapped their junks years ago in favor of container ships :)
When it comes to trade, China is NOT the only game in town.
President Trump is currently engaged in many trade deals simultaneously and he is most expertly keeping all of them in the air while he juggles the various options.
“ I think they scrapped their junks years ago in favor of container ships :)”
You so funny!
Raise the tariffs to 125% on all products from China. Tomorrow.
Most of the American Products sold in China are China made products under a US company name. In order to sale in China my company had to open a factory that is run by another company (own by a party member) in China.
That same factory producing American branded products to sale in China is producing knock offs with cheaper parts on the second floors to sale in the US under a made up brand name.
Any retaliation will hurt China worst then the US. They have their Citizens boycotting American Products that are produce in China. Example The old Jeep Cherokee.
We need to crack down on the knockoffs and China products on Amazon. Have you order a product from Amazon to find out it is Made In China. All products on Amazon from China should state they are from China.
Tell them if the do...Wawai is complete cut off.
“You so funny.”
Ah, so; but look not everything.
The President would not have to have done this if the past turds in the White house had not caved in and given us a disadvantage
Ha what are they gonna do invade Hing Kong and murder a few thousand unarmed citizens?
Whatever they do, we can retaliate in much stronger fashion. That’s how it works when you run a large trade surplus like they do.
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