Trade

Trump threatens new tariffs on another $100B in Chinese imports

President Donald Trump once again ratcheted up the tension in his ongoing trade dispute with China on Thursday, threatening to slap tariffs on an additional $100 billion in imports from one of the United States largest trading partners.

These tariffs would come on top of separate duties on $50 billion in U.S. imports of Chinese products like motor vehicles and home appliances that the administration announced earlier this week.

China had responded to that announcement by releasing its own list of products worth roughly the same amount that it will target with duties if the Trump administration moves forward with the presidents course of action. That list of more than 100 items was heavy on agricultural commodities, especially soybeans. Beijing also said it would add 25 percent tariffs on U.S. exports like aircraft, automobiles and chemicals.

Trump said in a statement Thursday evening that he found Chinas retaliation “unfair,” and, for that reason, he instructed U.S. Trade Representative Robert Lighthizer “to consider whether $100 billion of additional tariffs would be appropriate … and, if so, to identify the products upon which to impose such tariffs.”

“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers,” Trump said. “I am committed to enabling American companies and workers to compete on a level playing field around the world, and I will never allow unfair trade practices to undermine American interests.”

U.S. markets reacted negatively on the news with the Dow Jones Industrial Average showing an implied open down more than 400 points.

The administration is moving to impose tariffs as one step in a multipart effort to counter Chinese policies that the White House argues force U.S. technology companies to surrender billions of dollars in intellectual property and other proprietary information to gain access to Chinas state-controlled economy.

Trump also announced Thursday that he will instruct Agriculture Secretary Sonny Perdue “to use his broad authority to implement a plan to protect our farmers and agricultural interests.”

Lighthizer praised Trumps decision to consider another $100 billion worth of products to target with a 25 percent tariff as “appropriate.”

He said Beijing should have reacted by changing its own policies, but “unfortunately, China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in U.S. exports.”

“Such measures would undoubtedly cause further harm to American workers, farmers and businesses,” he said. “Under these circumstances, the president is right to ask for additional appropriate action to obtain the elimination of the unfair acts, policies and practices identified in USTRs report.”

It is unclear how the U.S. Department of Agriculture will alleviate the pressure on American farmers. Perdue acknowledged the request and stated, “As we take a stronger approach to the way we handle trade as a nation, we will use all of our authorities to ensure that we protect and preserve our agricultural interests.”

On Wednesday, Perdue said the prospect of a prolonged trade war could require that Capitol Hill lawmakers take “some extraordinary measures” in the next farm bill.

Despite such reassurances, many farmers have expressed anxiety about the escalating trade war. Trump administration officials have played down the harm to the American economy from Chinese retaliatory measures, but farmers of commodities and other products have already been under stress from falling prices and Trumps war of words on trade including a pullout from the TPP.

Congressional leaders representing farm states have also been worried about the tit-for-tat promises of retaliation. On Thursday, Senator Ben Sasse of Nebraska accused Trump of not have a realistic plan for reining in Chinas trade problems.

Trump is “threatening to light American agriculture on fire. Lets absolutely take on Chinese bad behavior, but with a plan that punishes them instead of us,” Sasse said. “This is the dumbest possible way to do this.”

None of the U.S. tariffs aimed at getting China to change its intellectual property practices have taken effect. The Trump administration has laid out a consultative process that will prevent duties on the initial $50 billion worth of products from being formally implemented until late May, at the earliest. Beijing has also indicated that the implementation date for its retaliation will depend on when the U.S. government moves forward.

Potential tariffs on the additional $100 billion in imports from China that could be targeted will also be subject to a similar public comment process, Lighthizer said Thursday.

The administration previously imposed tariffs on steel and aluminum imports from a broad range of countries, including China. Beijing also announced this week that it would be retaliating against those duties with penalties on 128 U.S. products worth roughly $3 billion.

Catherine Boudreau and Adam Behsudi contributed to this report.

Related Articles

53 Comments

  1. Hi, Neat post. There’s an issue with your web site in web explorer, might check this?K IE nonetheless is the marketplace chief and a huge component to other folks will miss your excellent writing due to this problem.

  2. Very good site you have here but I was curious about if you knew of any discussion boards that cover the same topics talked about in this article? I’d really like to be a part of group where I can get opinions from other knowledgeable individuals that share the same interest. If you have any suggestions, please let me know. Cheers!

  3. Wonderful items from you, man. I’ve keep in mind your stuff previous to and you’re just too excellent. I really like what you’ve bought right here, certainly like what you are stating and the way in which through which you assert it. You make it entertaining and you still care for to keep it sensible. I can’t wait to read much more from you. That is really a great site.

  4. Have you ever thought about adding a little bit more than just your articles? I mean, what you say is important and everything. But think of if you added some great photos or video clips to give your posts more, “pop”! Your content is excellent but with pics and videos, this site could certainly be one of the most beneficial in its niche. Awesome blog!

  5. Good post. I learn something more difficult on completely different blogs everyday. It’s going to always be stimulating to read content material from different writers and apply a little bit one thing from their store. I’d choose to make use of some with the content on my blog whether you don’t mind. Natually I’ll give you a link in your net blog. Thanks for sharing.

  6. I just could not depart your website prior to suggesting that I extremely enjoyed the standard info a person provide for your visitors? Is going to be back often in order to check up on new posts

  7. This design is incredible! You most certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Excellent job. I really loved what you had to say, and more than that, how you presented it. Too cool!

  8. Great post. I was checking continuously this blog and I am impressed! Extremely useful information particularly the remaining phase 🙂 I maintain such information a lot. I used to be seeking this certain info for a long time. Thanks and best of luck.

  9. I really appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thanks again

  10. Magnificent beat ! I wish to apprentice while you amend your site, how could i subscribe for a blog website? The account helped me a acceptable deal. I were a little bit familiar of this your broadcast offered bright transparent idea

  11. I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get got an shakiness over that you wish be delivering the following. unwell unquestionably come more formerly again since exactly the same nearly very often inside case you shield this hike.

  12. The crux of your writing while appearing agreeable in the beginning, did not settle properly with me personally after some time. Somewhere within the paragraphs you managed to make me a believer unfortunately just for a short while. I still have got a problem with your leaps in logic and you might do nicely to fill in those breaks. If you actually can accomplish that, I will definitely end up being fascinated.

  13. What i do not understood is if truth be told how you’re no longer actually a lot more well-favored than you might be now. You are so intelligent. You know therefore considerably in terms of this matter, produced me in my opinion believe it from numerous various angles. Its like men and women don’t seem to be fascinated unless it¦s one thing to accomplish with Lady gaga! Your own stuffs excellent. All the time handle it up!

  14. Have you ever considered about including a little bit more than just your articles? I mean, what you say is valuable and all. Nevertheless imagine if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with images and clips, this blog could definitely be one of the greatest in its field. Terrific blog!

  15. Howdy! This is my 1st comment here so I just wanted to give a quick shout out and tell you I really enjoy reading your blog posts. Can you suggest any other blogs/websites/forums that cover the same subjects? Thanks a ton!

  16. Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!

  17. Good write-up, I am normal visitor of one¦s blog, maintain up the excellent operate, and It’s going to be a regular visitor for a lengthy time.

  18. A formidable share, I simply given this onto a colleague who was doing a little analysis on this. And he in actual fact bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to discuss this, I really feel strongly about it and love reading extra on this topic. If potential, as you turn out to be experience, would you thoughts updating your blog with more details? It’s extremely helpful for me. Massive thumb up for this blog publish!

  19. This design is incredible! You most certainly know how to keep a reader amused.

    Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job.
    I really loved what you had to say, and more than that,
    how you presented it. Too cool!

  20. You really make it appear so easy together
    with your presentation but I in finding this topic to be really something that I feel I’d by no means understand.
    It sort of feels too complex and very broad for me. I am looking forward in your next submit,
    I’ll try to get the hang of it!

Leave a Reply

Your email address will not be published.

Trade

Trump threatens new tariffs on another $100B in Chinese imports

President Donald Trump once again ratcheted up the tension in his ongoing trade dispute with China on Thursday, threatening to slap tariffs on an additional $100 billion in imports from one of the United States largest trading partners.

These tariffs would come on top of separate duties on $50 billion in U.S. imports of Chinese products like motor vehicles and home appliances that the administration announced earlier this week.

China had responded to that announcement by releasing its own list of products worth roughly the same amount that it will target with duties if the Trump administration moves forward with the presidents course of action. That list of more than 100 items was heavy on agricultural commodities, especially soybeans. Beijing also said it would add 25 percent tariffs on U.S. exports like aircraft, automobiles and chemicals.

Trump said in a statement Thursday evening that he found Chinas retaliation “unfair,” and, for that reason, he instructed U.S. Trade Representative Robert Lighthizer “to consider whether $100 billion of additional tariffs would be appropriate … and, if so, to identify the products upon which to impose such tariffs.”

“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers,” Trump said. “I am committed to enabling American companies and workers to compete on a level playing field around the world, and I will never allow unfair trade practices to undermine American interests.”

U.S. markets reacted negatively on the news with the Dow Jones Industrial Average showing an implied open down more than 400 points.

The administration is moving to impose tariffs as one step in a multipart effort to counter Chinese policies that the White House argues force U.S. technology companies to surrender billions of dollars in intellectual property and other proprietary information to gain access to Chinas state-controlled economy.

Trump also announced Thursday that he will instruct Agriculture Secretary Sonny Perdue “to use his broad authority to implement a plan to protect our farmers and agricultural interests.”

Lighthizer praised Trumps decision to consider another $100 billion worth of products to target with a 25 percent tariff as “appropriate.”

He said Beijing should have reacted by changing its own policies, but “unfortunately, China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in U.S. exports.”Read More »

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button