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  • Trump: Has Asked US Trade Representative To Identify USD200 Bln In Chinese Goods For Additional Tariffs At A Rate Of 10 Percent

Added at 7:35pm

Added at 7:51pm

  • Trump says he has asked USTR to identify $200 billion in Chinese goods for additional tariffs at 10% rate

    From cnbc.com

    President Donald Trump has requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent. The new duties will go into effect "if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced," the president said in a statement provided by the White House late on Monday. The move came after the Trump administration on Friday announced that the U.S. would impose a 25 percent tariff on up to $50 billion of Chinese products. Tariffs on an initial list of goods worth some ... (full story)

hahahahahhaHAHAHAHHAHAHAHHAHA
Invest in alarm clocks
Likely, trade war tension getting stronger...
Bad for US Economy...
US GDP and US Inflation can getting weaker...
to san99
So, if you're smarter then Trumps office you should rule the country, right smarty? Isn't those restrictions benefit the country? Ya, for sure you see world trades much clear the the others...
"Will go into effect IF". This is the knee jerk reaction, should recover tmrw

UJ that is
Who is actually paying tariffs imposed by Trump?

The consumers or the exporter China?
This is great news. I see no reason why US Stocks will not go up 4ever.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting Ken A
Who is actually paying tariffs imposed by Trump? The consumers or the exporter China?
Buy Quality lasts longer and no Tariffs
He has corporate espionage and IP theft to deal with.
Come with me if you want to live....
G0od or bad for usd?
Quoting darryl1
{quote} Buy Quality lasts longer and no Tariffs
If that's the case Trump needs to impose 1000% import tariffs instead of 10%

1000% will make local manufacturers competitive

Import tariffs Canadian softwood have doubled the price of plywood

Import tariffs of steel and aluminium have raised price to 50%
The old trade tariff argument again and who actually benefits.

Lets take Canada who have imposed a 270% tariff on US dairy.

http://buffalonews.com/2018/06/16/in-dairy-a-cutthroat-u-s-business-versus-a-canadian-cartel/
Quoting Ken A
Who is actually paying tariffs imposed by Trump? The consumers or the exporter China?
China eventually. After tariff, the trade deficit will be reduced on US side, trade surplus will be reduced on China side. In other word, US will spend less money to buy the same amount of good from China. The saved money will go to reduce US debts.

Same question, who is CURRENTLY paying the extraordinarily high tariff imposed by China? Chinese citizen or importer US? Obviously US. Otherwise why would Trump want a fairer trade deal.

Even after all the tariff imposed by Trump, China is still earning over $100 bln every year from US. US will still be losing, but lesser. China want to fight back because they are not satisfied with the reduced earning. They want US to lose more. Previously, China was begging to join WTO and promised to open up their market but 15 years later till today, they have lied to the world. China would be wise to know that evil way don't pay. But unfortunately the Chinese Communist leadership is far from wise as their leaders are selected not from merit and ability but from relationship, bribery and corruption. The outcome is inevitable.
Quoting Ill-b-back
He has corporate espionage and IP theft to deal with.
Its beyond that. Its national security at stake.
it is just an epic drama, as usual.. it is not just a news, this is already set.. dollar down..central bank doesn`t have to make an intervention, just ask him to say something bad to make dollar down.. perfect, just look at us/yen, pound/dollar, is it going to make double top or double bottom ??? who knows..
  •  Guest
  • | IP XXX.XX.51.102
The iPhone alone accounts for $15.7 billion of the US trade deficit with China. Even though the assembly and parts cost of the iPhone in China is only a tiny fraction of the total manufacturing cost, the entire import cost of the iPhone is attributed to China in U.S. trade statistics.

If trade deficits were measured to account for the complex nature of global supply chains like the ones used by sophisticated consumer products like smartphones, the US-China trade deficit would be about 36% lower, or $239 billion.

The deficit mismeasurement also shows why identifying the winners and losers from trade is more complicated than simply comparing the cost of lost manufacturing jobs to the benefits of cheaper goods. More tariffs, which aim to reduce trade, harms jobs everywhere, even in the US.
Quoting Ken A
Who is actually paying tariffs imposed by Trump? The consumers or the exporter China?
Tariffs are paid by the company importing the goods into the country to the government of that country. The company then sells the goods at the higher price plus markup.
Quoting Guest
The iPhone alone accounts for $15.7 billion of the US trade deficit with China. Even though the assembly and parts cost of the iPhone in China is only a tiny fraction of the total manufacturing cost, the entire import cost of the iPhone is attributed to China in U.S. trade statistics. If trade deficits were measured to account for the complex nature of global supply chains like the ones used by sophisticated consumer products like smartphones, the US-China trade deficit would be about 36% lower, or $239 billion. The deficit mismeasurement also shows...
https://youtu.be/8yNVpyj4FJs
  •  Guest
  • | IP XX.XXX.184.229
Using different appraoch U.S. has a surplus of $20 billion with China and $1.4 trillion with the rest of the world. Check yourself:
https://www.bloomberg.com/news/articles/2018-06-12/the-1-4-trillion-u-s-surplus-that-trump-s-not-talking-about

But I must agree and maybe that is the real problem that:
"What the sales data does show is that the interests of U.S. firms aren’t always the same as the interest of U.S. workers because American firms can profit from growth abroad without exporting from the U.S. and employing U.S. labor"
At current moment, other countries' tariff is higher than US. These other countries high tariff is also affecting global trade. Why nobody is complaining? Why IMF has not issued statement to say that other countries high tariff is affecting global trade and growth? Why nobody said that the high tariff imposed by other countries is harming jobs in US?

Even with 25% additional tariff imposed by US, US tariff is still lower than other countries tariff. And everybody complained like they are being treated unfairly.

Trump is absolutely right to say that other countries has taken advantage of US goodwill.
Quoting Guest
Using different appraoch U.S. has a surplus of $20 billion with China and $1.4 trillion with the rest of the world. Check yourself: https://www.bloomberg.com/news/articles/2018-06-12/the-1-4-trillion-u-s-surplus-that-trump-s-not-talking-about But I must agree and maybe that is the real problem that: "What the sales data does show is that the interests of U.S. firms aren’t always the same as the interest of U.S. workers because American firms can profit from growth abroad without exporting from the U.S. and employing U.S. labor"
That news article is written by someone with a family name of "Zhang". China would be wise to pay someone with a non-Chinese name to write this type of article. At least that would not be so obvious.
  •  Guest
  • | IP XX.XXX.177.169
Quoting Hareii
{quote} That news article is written by someone with a family name of "Zhang". China would be wise to pay someone with a non-Chinese name to write this type of article. At least that would not be so obvious.
The analysis was prepared by Deutsche Bank apparently and the article suggest that US has deficit with Germany. Which could suggest that the analysis tried not to be biased. But it is quite different way of measurement.
This huge trade deficit of US has to be addressed sooner or later. Everybody with still some logic making capability left in them will know that the current US fiscal debts is a non-sustainable one. Now we have this president who is not the typical politician who thus possess the will and gut to tackle this imbalance, it will be the best opportunity to address it. If this issue is postponed to the next president, it risk having the can kicked further down the road.

And when US can't balance its book anymore, it will sell more arms to the world for revenue. And that will be a lose-lose scenario for everyone, including China. Case in point, Obama has sold more arms than any other presidents since WWII.

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Everyone just need to think longer term. If US cannot survive, I doubt other countries will be spared. The balance of power and deterrence will be off and it will be a free-for-all among all countries. It will be a sad sad world.
Black swan alert, the stocks are crashing LIVE
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Invest in alarm clocks
trump tariffs is always good for the US. but some traders take it as negative. for example they sold usdjpy atter this news came out. I dont know what they are thinking. but it look like they just dont know what is going on.
Quoting Ken A
Who is actually paying tariffs imposed by Trump? The consumers or the exporter China?

The consumers want cheap or cheaper,

everyone wants to save a buck
Quoting Guest
{quote} The analysis was prepared by Deutsche Bank apparently and the article suggest that US has deficit with Germany. Which could suggest that the analysis tried not to be biased. But it is quite different way of measurement.
So why is the US in so much debt and China in surplus .

You can spin the numbers but we all know the US has a massive trade deficit with the world.

Trump love him or hate him is addressing the issue.

Just like anyone trying to rein in their own spending there needs to be some harsh measures.
Trump is a stable genius with divine powers that no ordinary persons possess.
Quoting Guest
The iPhone alone accounts for $15.7 billion of the US trade deficit with China. Even though the assembly and parts cost of the iPhone in China is only a tiny fraction of the total manufacturing cost, the entire import cost of the iPhone is attributed to China in U.S. trade statistics. If trade deficits were measured to account for the complex nature of global supply chains like the ones used by sophisticated consumer products like smartphones, the US-China trade deficit would be about 36% lower, or $239 billion. The deficit mismeasurement also shows...
The way I see it is just another way for the US government to raise money and pay for the tax cuts. The people are not going to stop buying those products, they will just have to pay more for them. Is just like in the UK where the government is taxing cigarettes. That didn't stop the people from smoking. They just got used to the price and that's it. It also created a black market where people smuggle cigarets from eastern Europe. You can buy a pack of Marlboro in Romania for £3 and in the UK the same pack costs £11.
I have friends that even tho they can get the black market version for about 6 pounds they don't bother and still go for the English version.
So just like in the UK, I see no benefit for the tariffs on the US population. Just an extra cost that will go directly to the government.
It makes sense because I just don't see how they can raise the money if companies pay less corporate tax then before. So Trump in retrospect cut the corporate tax from 35 to 21 and also gave everyone else back some as well but will take it right back and more at the till.
  •  Guest
  • | IP XX.XXX.251.203
Quoting darryl1
{quote} Buy Quality lasts longer and no Tariffs
The US consumer will pay the tariffs imposed by the US. Not only the 10 / 25% tariff but also the importers and wholesalers and retailers mark up on the increased cost. So a $10 increase in a products tariff will cost the consumer $40 / $80 more. The object of tariffs are to raise the cost of imported goods so that local goods become more competitive. The problem for the US is that they make very little consumer goods. American manufacturers moved their production overseas because American consumers don't want to pay the price of consumer goods with American labor costs. Even the POTUS doesn't manufacture his different companies products in the U.S.
Maybe Trump and China are in this together and we are all too silly to realize. After all, what they talk about behind closed doors we will never find out.
For those who think the tariffs are a burden to companies and corporations .... think again or take a lesson in Bookkeeping!

Some here argue blindly on "deficit" forgetting to take a bigger picture of issues at hand! Ever heard of "shadow economy" before? Secondly, if the USD loses it's "Reserve Currency" status .... which BTW, is already happening since the Renminbi got it's SDR ..... what do you think will happen? China can easily look for alternatives to US imports. Some here behave as if China do not have other sources ..... EU companies are on standby to replace the US exports to China!
Quote
..... EU companies are on standby to replace the US exports to China!


Already doing that... a bigger cut wouldn't hurt though. ;O)
  •  Guest
  • | IP XX.XX.125.41
When a tariff is imposed the volume of imports shrinks. The cost to the economy is a loss of consumer surplus, as consumers have to pay higher prices to get products that they previously imported at lower prices. ... It's like a tax on consumers and a subsidy to producers.
Source: Cengage
Quoting Ken A
Trump is a stable genius with divine powers that no ordinary persons possess.
Well he's pretty smart, but I wouldn't necessarily go that far.
Are you looking to win favour with the President? He still gives autographs I believe.
Come with me if you want to live....
  •  Guest
  • | IP XX.XXX.10.163
Are there tariffs for practicing Tai Chi?
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  •  Guest
  • | IP XX.XXX.92.49
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  • Story Stats
  • Posted: Jun 18, 2018 7:32pm
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 40  /  Views: 16,541