llien
Member
UPDATE:
Trump threatens further $100bn in tariffs against China
US President Donald Trump has instructed officials to consider a further $100bn (£71.3bn) of tariffs against China, in an escalation of a tense trade stand-off.
These would be in addition to the $50bn worth of US tariffs already proposed on hundreds of Chinese imports.
The proposal comes after China retaliated to that by threatening tariffs on 106 key US products.
The tit-for-tat moves have unsettled global markets in recent weeks.
BBC
==============================
Trade tensions between China and the US have been ramped up after Beijing responded to US plans for putting new taxes on hundreds of Chinese imports.
China said it would place 25% trade tariffs on 106 US goods, including soybeans, cars and orange juice.
The tit-for-tat action comes hours after Washington detailed about 1,300 Chinese products it intended to hit with tariffs - also set at 25%.
But President Trump tweeted the US was not in a trade war with China.
Chinese items targeted by the US for tariffs include televisions and motorcycles.
The White House said its proposals were a response to unfair Chinese intellectual property practices.
Stock markets in Europe fell, with investors taken aback by the speed of China's response. In New York, the Dow Jones is expected to open about 550 points lower.
Beijing has been adamant that it did not want a trade war, but that it would not not back down under US pressure.
"Any attempt to bring China to its knees through threats and intimidation will never succeed," foreign ministry spokesman Geng Shuang said.
"There is no winner in a trade war, and an initiator will harm itself as well as others."
Mr Geng said China had referred the US to the World Trade Organization.
Hopes for a resolution
China's economy has become less dependent on selling goods abroad in recent years, which is likely to blunt the effect of the US tariffs, according to analysts for S&P Global Ratings.
The US was the destination for about 18.2% of all Chinese exports in 2016, according to the US trade department.
American business groups have urged the two sides to try to resolve the issues through talks, expressing concern that threatening tariffs could lead to a dispute that hurts the US economy.
"The administration is rightly focused on restoring equity and fairness in our trade relationship with China," said the US Chamber of Commerce.
"However, imposing taxes on products used daily by American consumers and job creators is not the way to achieve those ends."
BBC
Trump threatens further $100bn in tariffs against China
US President Donald Trump has instructed officials to consider a further $100bn (£71.3bn) of tariffs against China, in an escalation of a tense trade stand-off.
These would be in addition to the $50bn worth of US tariffs already proposed on hundreds of Chinese imports.
The proposal comes after China retaliated to that by threatening tariffs on 106 key US products.
The tit-for-tat moves have unsettled global markets in recent weeks.
BBC
==============================
Trade tensions between China and the US have been ramped up after Beijing responded to US plans for putting new taxes on hundreds of Chinese imports.
China said it would place 25% trade tariffs on 106 US goods, including soybeans, cars and orange juice.
The tit-for-tat action comes hours after Washington detailed about 1,300 Chinese products it intended to hit with tariffs - also set at 25%.
But President Trump tweeted the US was not in a trade war with China.
Chinese items targeted by the US for tariffs include televisions and motorcycles.
The White House said its proposals were a response to unfair Chinese intellectual property practices.
Stock markets in Europe fell, with investors taken aback by the speed of China's response. In New York, the Dow Jones is expected to open about 550 points lower.
Beijing has been adamant that it did not want a trade war, but that it would not not back down under US pressure.
"Any attempt to bring China to its knees through threats and intimidation will never succeed," foreign ministry spokesman Geng Shuang said.
"There is no winner in a trade war, and an initiator will harm itself as well as others."
Mr Geng said China had referred the US to the World Trade Organization.
Hopes for a resolution
China's economy has become less dependent on selling goods abroad in recent years, which is likely to blunt the effect of the US tariffs, according to analysts for S&P Global Ratings.
The US was the destination for about 18.2% of all Chinese exports in 2016, according to the US trade department.
American business groups have urged the two sides to try to resolve the issues through talks, expressing concern that threatening tariffs could lead to a dispute that hurts the US economy.
"The administration is rightly focused on restoring equity and fairness in our trade relationship with China," said the US Chamber of Commerce.
"However, imposing taxes on products used daily by American consumers and job creators is not the way to achieve those ends."
BBC
Last edited:
