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ECON China Strikes Back: Imposes Tariffs on $75 Billion of U.S. Goods (Trump tweet response at bottom)
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  1. #1

    China Strikes Back: Imposes Tariffs on $75 Billion of U.S. Goods (Trump tweet response at bottom)

    https://www.breitbart.com/economy/20...-of-u-s-goods/


    China Strikes Back: Imposes Tariffs on $75 Billion of U.S. Goods | Breitbart
    John Carney
    2 minutes
    Hopes for easing trade tensions between China and the U.S. ran aground the reality of Chinese resistance to reform Friday when China said it would impose new tariffs on $75 billion of U.S. products.

    The tariffs will range from 5 percent to 10 percent and cover the U.S. goods not covered by earlier rounds of tariffs. In addition, China will move forward with plans to impose tariffs on U.S. vehicles and auto parts.

    The new tariffs are clearly retaliation for the Trump administration’s decision to move forward with tariffs on $300 billion of Chinese goods. The Chinese tariffs will take effect in two waves, the first on September 1 and the second on December 15. Those are the same dates the new U.S. tariffs are set to be imposed.

    The tariff announcement appeared to catch Trump administration officials off-guard. On Thursday, White House economic adviser Larry Kudlow was speaking in positive tones about trade negotiations and said he expected further face-to-face talks to be held in Washington, D.C. in September.

    Financial markets were also caught off guard. Stock futures indicated stocks would decline when markets opened.

    President Donald Trump appeared to be reacting to the China news when he tweeted that the Federal Reserve should “show their stuff.” Trump has been pressuring the Fed to cut interest rates by as much as a full percentage point. Fed officials have indicated that they may cut rates if trade tensions worse–which they did with Friday’s announcement.

    China imports far less from the U.S. than the U.S. does from China, limiting China’s ability to damage the U.S. economy through tariffs.

    The Presidents response:

    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far....
    2,689 replies 4,610 retweets 15,020 likes


    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    ....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
    1,132 replies 2,184 retweets 6,754 likes


    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    ....your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....
    813 replies 3,028 retweets 10,270 likes

    Donald J. Trump
    ‏Verified account @realDonaldTrump


    ....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

    Trade war to be continued this afternoon and it sounds like a real one has started....

  2. Quote Originally Posted by Cacheman View Post
    https://www.breitbart.com/economy/20...-of-u-s-goods/


    China Strikes Back: Imposes Tariffs on $75 Billion of U.S. Goods | Breitbart
    John Carney
    2 minutes
    Hopes for easing trade tensions between China and the U.S. ran aground the reality of Chinese resistance to reform Friday when China said it would impose new tariffs on $75 billion of U.S. products.

    The tariffs will range from 5 percent to 10 percent and cover the U.S. goods not covered by earlier rounds of tariffs. In addition, China will move forward with plans to impose tariffs on U.S. vehicles and auto parts.

    The new tariffs are clearly retaliation for the Trump administration’s decision to move forward with tariffs on $300 billion of Chinese goods. The Chinese tariffs will take effect in two waves, the first on September 1 and the second on December 15. Those are the same dates the new U.S. tariffs are set to be imposed.

    The tariff announcement appeared to catch Trump administration officials off-guard. On Thursday, White House economic adviser Larry Kudlow was speaking in positive tones about trade negotiations and said he expected further face-to-face talks to be held in Washington, D.C. in September.

    Financial markets were also caught off guard. Stock futures indicated stocks would decline when markets opened.

    President Donald Trump appeared to be reacting to the China news when he tweeted that the Federal Reserve should “show their stuff.” Trump has been pressuring the Fed to cut interest rates by as much as a full percentage point. Fed officials have indicated that they may cut rates if trade tensions worse–which they did with Friday’s announcement.

    China imports far less from the U.S. than the U.S. does from China, limiting China’s ability to damage the U.S. economy through tariffs.

    The Presidents response:

    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far....
    2,689 replies 4,610 retweets 15,020 likes


    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    ....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
    1,132 replies 2,184 retweets 6,754 likes


    Donald J. Trump
    ‏Verified account @realDonaldTrump
    22m22 minutes ago

    ....your companies HOME and making your products in the USA. I will be responding to China's Tariffs this afternoon.This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....
    813 replies 3,028 retweets 10,270 likes

    Donald J. Trump
    ‏Verified account @realDonaldTrump


    ....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

    Trade war to be continued this afternoon and it sounds like a real one has started....
    THERE'S NO WAY IF YOU CAN REALLY KNOW WHETHER I'M HERE TO HELP YOU OR NOT, so it's really up to you.
    Just have to make up your own damn mind to accept what I'm going to tell you or reject it.
    WWG1WGA

  3. #3
    Thank you sir.....it might be shared pain, but it will make China do things that will weaken them.

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