U.S. ratchets up China trade war, threatens tariffs on $200 billion of goods

To be continued...

 

Welp, hope it doesn't happen. Another recession doesn't sound like fun to me.

 

Why do think there would be a recession because of that?

 

We are destroying trade with well established markets. The industries can't adjust as fast as Trump can sign new tariffs so there will simply be a lot of waste.

 

Because trade wars are terrible for any economy and this will hurt a lot of businesses here in the US, even if China doesn't retaliate . . . which it will.

I'd prefer we go back the the Constitutional way of doing things. There's a reason the Founding Fathers put tariffs in the hands of Congress instead of letting one man institute them on a whim.

 

the problem is trump fighting a multi front trade war with our allies and china. because of that China are less likely to back off. even though china can't match $200B in tariff, but it can make US business operate in china a living hell while simultaneously make EU/Japan/Skorea business operation easier. Many US company such as apple/boeing/GM/Ford/Chevy just name few depend on china for growth revenue. Result is trump didn't help America company in China but help EU/Japan/ and others

 

Do the new tariffs on products Made In China include Ivanka and Trump Made In China products?
https://www.google.com/search?q=tru...edmJfcAhWkp1kKHSGwBMEQsAQIJg&biw=1222&bih=451

 

Incorrect.
So far China has reduced it's tariffs in response to Trumps threats.
The only trade he is destroying is Chinese trade. And he is not so much "destroying it" as replacing it with US trade.

 

China has already backed off.
He is trying to make them back off more.

Everyone will back off vs America because America is the biggest market in the world with the lowest tariffs in the world.
He holds the winning hand.
Consequently when they threatened him with a trade war, to try and scare him off, he didn't blink.

When you get a trade balance with your allies and China, they will not back off.
You have a long way to go before this happens.

 

Where do you get your news from?

 

Financial Times.
I posted the link in the other thread.

China dropped it's 25% car tariff to 15% on July the 1st.
Having previously threatened to raise it by a further 25% in response to Trumps proposed tariff hikes.

This is what everyone expected to happen and it has happened. Shocker.

Here you go.
https://www.ft.com/content/5e7d748a-5dec-11e8-9334-2218e7146b04
Google is your friend.

America has the winning hand. Trump has the balls to play it.
Must be nice to have a smart president after all these years.

 

That lasted less then a week as Trump threatened tariffs immediately after. China just enacted more tariffs on cars.

 

Sorry can't find any news of that on Google.
Sounds like Fake News.
Are you sure they raised it as opposed to just threatened to raise it?
Or did some one just say they might raise it and not even them?
Perhaps they said they would raise it in the future?

If it happened, I'd like to read about it.

Anyway, can't find any evidence to support your claim from a cursory Google search.
So I'll remain skeptical of it for now.

 

You can't be serious.

 

Of course I am serious.

Financial Times is a credible source. A randomly named Trump basher on the internet is not.
I've taken the time to try and source your claims.
More time than you took to source mine.

I haven't been able to.

 

Lol... oh you guys ....

 

Financial Times seems to be pay to read for the article you linked
.

 

Everything I'm seeing indicates that China is in far rougher shape as a result of the new trade war than we are. So far.

 

Clearly he is throwing his money away as he hasn't read any articles in the last month.

 

I think China is doing the right thing in responding to Trump's tariffs, in my opinion we need to re-establish our commitment to NAFTA, NATO, because with out them we can't reassure the majority of people who oppose the administrations tariffs. America will go back the progress we were making under the Obama Administration.

 

Raising tariffs doesn't magically replace one country's trade with another's. And tariffs on other countries, even when the target countries don't retaliate, hurts businesses in the country implementing the tariffs. You put a tariff on steel to try to help producers of steel in your country . . . which hurts consumers of steel in your country, and there are more businesses consuming steel than there are producing, so you are hurting more of your businesses than you are helping.

 

If china wants to sell in America they have to buy an equal amount from us too

 

No, they don't. And using government force to try to make that so, instead of letting people make their own business decisions for themselves, is economically destructive. Unilateral trade deficits aren't categorically bad. The assumption that they are is based on the assumption that imports are harmful and exports are good, all of which is based on the false assumption that trade is a zero-sum game. Take a look at Hong Kong some time. They got rich off with trade deficits because they were smart enough to know that it wasn't somehow magically harmful for them to import the raw materials that they needed. Trade "deficits" are not actual, literal, monetary deficits.

 

Yes they will or we will make our own stuff here again

 

Isolationism is economically self-destructive. Sorry.