China Responds To Trump Tariffs With Proposed List Of 128 US Products To Target

[edpc]

The world's second-largest economy has responded to President Donald Trump's controversial trade tariffs.

China's commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning.

The U.S. goods, which had an import value of $3 billion in 2017, include wine, fresh fruit, dried fruit and nuts, steel pipes, modified ethanol, and ginseng, the ministry said. Those products could see a 15 percent duty, while a 25 percent tariff could be imposed on U.S. pork and recycled aluminium goods, according to the statement.

The statement did not go into greater detail. U.S. agricultural products, particularly soybeans, have been flagged as the biggest area of potential retaliation by Chinese President Xi Jinping's administration.

https://www.cnbc.com/2018/03/22/china-responds-to-trump-tariffs-with-proposed-list-of-us-products-to-target.html

[Frank Cannon]

Wow. A whole effing $3 billion dollars at stake. That is a real big number.......until you realize that we had a $16 billion dollar deficit on just the Iphone 7 last year. The whole damn trade deficit with the Chinamen was almost $400 billion.

[edpc]

That's their opener.  We'll know they're serious if they introduce agricultural tariffs. 

"With the restrained response, China hopes Trump can realise his errors and mend his ways," said Xu Hongcai, deputy chief economist at the China Centre for International Economic Exchanges, a Beijing think tank.

"If we really want to counter, the strongest response would be to target soybean and automobiles. This would hurt the U.S.," said Xu. "China is 'drawing its bow' but not firing. We still have some cards to play."

https://www.yahoo.com/news/china-eyes-measures-against-u-imports-balance-tariffs-002319270--business.html

[LauraTXNM]

That's their opener.  We'll know they're serious if they introduce agricultural tariffs. 

"With the restrained response, China hopes Trump can realise his errors and mend his ways," said Xu Hongcai, deputy chief economist at the China Centre for International Economic Exchanges, a Beijing think tank.

"If we really want to counter, the strongest response would be to target soybean and automobiles. This would hurt the U.S.," said Xu. "China is 'drawing its bow' but not firing. We still have some cards to play."

Yep. 

https://www.yahoo.com/news/china-eyes-measures-against-u-imports-balance-tariffs-002319270--business.html

[Concerned]

Let the trade war begin.     Dow down over 700 yesterday and futures are down again this morning (along with global markets).   Once our trading partner's retaliatory tariffs hit, our consumer prices will go up.  Sheesh.

[kevindavis007]

Let the trade war begin.     Dow down over 700 yesterday and futures are down again this morning (along with global markets).   Once our trading partner's retaliatory tariffs hit, our consumer prices will go up.  Sheesh.

But factories are going to magically appear again..

[NavyCanDo]

Wow. A whole effing $3 billion dollars at stake. That is a real big number.......until you realize that we had a $16 billion dollar deficit on just the Iphone 7 last year. The whole damn trade deficit with the Chinamen was almost $400 billion.

No quaral about the iPhone trade deficit, except that it's parts come from half the globe, not just China. What I worry about being China is the biggest customer of Boeing is for them to cancel orders giving them to Airbus. That would be devastating.

[goodwithagun]

But factories are going to magically appear again..

Yep. Those factories are impossible to build today thanks to heavy EPA regulations. We have a coke plant across the river in Follansbee, WV, and European investors are dumping money into it to keep it going. If it shuts down, it shuts down for good.