Trump raises stakes with new round of China tariffs

5 ways Trump's tariffs on $200B in China goods could be felt

That followed the Trump administration's announcement late Monday that it would impose a 10% tariff (with a lowercase T, in the standard noun form) on $200 billion of Chinese goods, which was followed by Beijing placing tariffs on an additional $60 billion of USA goods.

The Finance Ministry said it was going ahead with plans announced in August for the increases of 10 percent and 5 percent on 5,207 types of us goods.

However, because of the trade imbalance between the United States and China, Beijing won't be able to continue matching Trump's tariffs.

Last month, China unveiled a proposed list of tariffs on $60 billion of USA goods ranging from liquefied natural gas to certain types of aircraft - should Washington activate the tariffs on its $200 billion list.

"Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower US growth and competitiveness and higher prices for US consumers", Apple said earlier in a letter commenting on the proposal.

China's exports hit by Trump's new $US200 billion of tariffs. The first round of tariffs, which hit $50 billion in Chinese goods, targeted a relatively narrow set of products. A pair of sources cited by Bloomberg say that when the final list is released on Monday, the product code covering the Apple Watch and AirPods, along with other smartwatches and fitness trackers, will be excluded from that list. Still, American consumers could start feeling the cost of the tariffs for everyday goods, as the latest move brings all Chinese imports subject to a new tariff to $250 billion, roughly half of China's shipments to the U.S. previous year. China announced $60 billion in retaliatory measures on Tuesday, which included a 10 percent tariff on imported LNG from the United States.

The new tariff measures will take effect on September 24, the date when the Trump administration says it will begin to levy new tariffs of 10 percent on $200 billion of Chinese products.

China's yuan currency slipped against the dollar on Tuesday after news of the USA measures.

"Today's retaliatory tariffs are not an effective trade policy and may violate USA law".

"It is a grand strategy of negotiating", Kudlow said.

Trump, without evidence, accuses China of trying to sway USA election
Opinion: A grin and a handshake will not change the attitude of either when it comes to hacking at the country scale. Beijing has warned that it would hit an additional $60 billion in American products if Trump ordered more tariffs.

However, should China retaliate - Bloomberg headlines suggest there will be retaliatory tariffs launched simultaneously - then all Chinese imports into the U.S. will face tariffs.

"They also know that I am the one that knows how to stop it", he said.

Sohn said the Trump administration is pursuing a legitimate goal of getting China to stop violating worldwide trade rules but that it should have enlisted support from other trading partners, such as the European Union, Canada and Mexico, and presented Beijing with a united front.

The Trump administration announced the tariffs on some 5,000 Chinese-made goods will start at 10 percent, beginning Monday. China's Ministry of Commerce said on Tuesday that it had filed a complaint with the WTO following Washington's latest tariff action.

Mr. Trump tweeted several other claims about tariffs on Monday that were inaccurate, such as claiming that the tariffs have "put the a very strong bargaining position".

It was not clear what statement from Beijing Trump was referring to in his post.

One precondition for the talks was that the Americans would show sufficient goodwill but Trump's latest decision to escalate the trade war by slapping new tariffs on nearly half of all Chinese exports may have scuppered the talks, it quoted the sources as saying. "Once again, I urge China's leaders to take swift action to end their country's unfair trade practices".

"Tariffs are a tax on American families", Quach said.

"In the short term, we will have higher prices and fewer jobs than we would have had otherwise", Sohn said.

Related news:

Hot News

isis-killer-beheading-video-story-top Kavanaugh accuser wants Federal Bureau of Investigation probe before she will testify
Sep 19, 2018 - 05:13
Pressure on Senate Republicans to delay Kavanaugh's confirmation process intensified after Ford came forward on Sunday. Trump has also supported Kavanaugh after the accusation, though he said he wanted the allegation to be aired.

isis-killer-beheading-video-story-top 'Hazard could score 40 goals at Liverpool, Man City'
Sep 19, 2018 - 04:32
David Luiz could sign a fresh two-year deal with Chelsea , as per reports from the Sun . Terry left Chelsea in 2017 after playing 713 times for the club since his debut in 1998.

isis-killer-beheading-video-story-top Category 4 hurricane Florence maintains strength east of North Carolina: NHC
Sep 18, 2018 - 23:49
The only Category 5 hurricanes to hit the US were Andrew in 1992, Camille in 1969 and an unnamed "Labor Day" hurricane in 1935. Florence is forecast to strengthen some during the day Wednesday and slow in forward speed leading up to landfall.

isis-killer-beheading-video-story-top Antonio Brown Skipped Steelers Practice On Monday
Sep 18, 2018 - 22:27
There have been a couple of instances now where you've asked me about Antonio regarding some social media-like things. But if Brown is serious about wanting a trade, then we can only imagine the chaos that will take over the NFL.

isis-killer-beheading-video-story-top Can't Miss Looks From the Emmy Awards Red Carpet
Sep 18, 2018 - 22:16
Peter Dinklage won for Game of Thrones , and Thandie Newton was chosen for her supporting role in sci-fi series Westworld . The suggestion was made during Monday's Emmy awards that Idris Elba should have won, like, a million Emmys for "The Wire".

isis-killer-beheading-video-story-top Happy 34th Birthday Prince Harry! - Top photos from his a year ago
Sep 18, 2018 - 21:55
Ms Grant also said Harry needed to "grow up" and "be a role model to William and Kate's children" by making up with Mr Markle. Samantha Markle has publicly hit out at Prince Harry again, this time likening him to a hamster on his 34th birthday.

isis-killer-beheading-video-story-top Lozano: Barcelona wanted to sign me this summer
Sep 18, 2018 - 20:15
PSV boss Mark van Bommel has told his player to be professional when they take on Lionel Messi's Barcelona . Why do you think Messi has struggled in Europe in recent seasons?

isis-killer-beheading-video-story-top Hina Khan & Hiten Tejwani to appear on 'Bigg Boss 12'
Sep 18, 2018 - 19:17
Dipika finally called herself as a proud Mumbaikar as she is settled in Mumbai over the past six years due to her acting career. He said that he will talk to her about it, after she comes out of the show and for now, he wants her to stay positive.

isis-killer-beheading-video-story-top Amazon is reportedly baking Alexa into a microwave this year
Sep 18, 2018 - 18:29
It is worth adding that some of the OEMs have already launched devices and even cars that support Amazon Alexa voice assistant . While Amazon is making strides to get the most traction, Apple too recently updated its premium smart speaker , Homepod .

isis-killer-beheading-video-story-top Constitutional Court ruling on dagga
Sep 18, 2018 - 17:44
But, the judgement does leave some room for misinterpretation, particularly with regards to the "personal use" statute. All other exceptions regarding amounts and defining legal use is left up to the government to decide.

isis-killer-beheading-video-story-top 5 ways Trump's tariffs on $200B in China goods could be felt
Sep 18, 2018 - 16:18
There have been periodic reports that the Trump administration was on the verge of resuming talks with Beijing . The two countries are fighting over Beijing's ambitions to supplant American technological supremacy.

isis-killer-beheading-video-story-top Julie Chen to Exit CBS’ ‘The Talk’ on Heels of Moonves Scandal
Sep 18, 2018 - 15:59
Back in July, Chen came out and immediately supported her husband when the first allegations about sexual misconduct arose. Behar asked, suggesting #MeToo would be off limits "unless Julie Chen-Moonves comes clean".

isis-killer-beheading-video-story-top Moon aims to meet Washington and Pyongyang halfway
Sep 18, 2018 - 13:55
Moon and Kim hailed " a new era of peace " when they first met at the Panmunjom "truce village" between the two Koreas in April. Moon is due to fly to NY later this month to attend the UN General Assembly, where he is expected to meet Trump.

isis-killer-beheading-video-story-top Kavanaugh Accuser Willing To Testify If Asked
Sep 18, 2018 - 13:52
She said that she remembered being pushed into a bedroom by Kavanaugh and his friend Mark Judge. But Democrats on the committee demanded a delay to allow the FBI to investigate the charge.

isis-killer-beheading-video-story-top Wall Street falls ahead of Trump announcement on US-China trade war
Sep 18, 2018 - 13:47
Also spared from the tariffs were Chinese inputs for US-produced chemicals used in manufacturing, textiles and agriculture. The latest US duties spared smart watches from Apple and Fitbit and other consumer products such as baby vehicle seats.