Posted on 06/15/2018 7:49:34 AM PDT by E. Pluribus Unum
President Donald Trump is sharply escalating a confrontation with China over trade.
The United States will impose a 25% tariff on $50 billion of Chinese exports, the president said early Friday. China vowed to retaliate immediately and said the United States had "launched a trade war."
The US penalty is designed to punish China for stealing American technology and trade secrets. It will apply to roughly 1,100 exports and will target the Chinese aerospace, robotics, manufacturing and auto industries.
Trade between the two countries "has been very unfair, for a very long time," Trump said in a statement. "This situation is no longer sustainable."
US customs agents will begin collecting the duties on July 6, the administration said.
The move represents a serious elevation of trade tensions between the world's two largest economies — just as Trump has also picked fights with allies Canada, Mexico and the European Union over steel and aluminum.
Beijing said Friday it will fight back with tariffs of its own. China previously outlined plans to respond with retaliatory tariffs on $50 billion of US products such as cars, planes and soybeans.
China also said it would scrap promises to purchase more US goods. Those pledges came during negotiations with US trade officials last month.
(Excerpt) Read more at money.cnn.com ...
“will target the Chinese aerospace, robotics, manufacturing and auto industries”
All industries the US needs to sustain or improve. RIght on target.
Love it
Stick it to the lying cheating people suppressing commie scum
Pressure
Wasnt that long ago that we didnt need their crap.
of course, there are a lot of kids these days that dont remember that.
All China has to do to make America howl is to cut off trade with businesses servicing WalMart and Harbor Freight.
IMHO, Bottom line is that China has more to lose than we do. Because if they lose any portion of the U.S. market, they have to make it up somewhere else in the world. Good luck to them.
Good. And if they retaliate, we can tariff even more.
Trump is the first American president we’ve had by birth since 2008 and the first American president we’ve had by heart since 1988.
China doesn't have much of a domestic market for what it produces, since most of its population remains in poverty. It needs access to markets in affluent nations to keep its economy running.
I got a bench buffer on sale from HF.
So far it’s worked well. I used it to shine my CJ7 original centercaps. With a little polish and a few passes, they shine nicely.
Harbor freight lol.
The tools you buy with every intent to use once or twice and care not if they get lost, broken or stolen....
Good place for cheap paint brushes and cheap paint spray guns. Surprisingly they have a small canister paint gun that beats the name brand in quality 10/1. And if it craps out? No big loss.
LOL. Harbor Freight, where tools are made out of Chineseum.
Chinese spies have stolen so much intellectual property from our businesses, and Chinese manufacturers have counterfitted so many ‘protected’ American products, and their backside face is so anti-American, well — F THE CHINESE!
I have an old ColecoVision game console out in the garage with a Made in Pennsylvania sticker on it.
Maybe the USA can go back to the old days...
F china
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