In Latest Trade-War Escalation, China Will Cut Tariffs On Imported Goods

[To-Whose-Benefit?]

zerohedge
tylr durden Sept 20, 2018

[excerpt]

https://www.zerohedge.com/news/2018-09-20/latest-trade-war-escalation-china-will-cut-tariffs-imported-goods

As we've pointed out in the past, one of China's biggest disadvantages in the burgeoning trade war with the US is its yawning trade surplus, which constrains its ability to impose retaliatory tariffs on US goods (which explains China's latest tariff threat). With this in mind, China's leaders are being forced to find alternative ways to strike back at the US that, while not directly targeting imports, can be just as damaging. And one dauy after China's Premier promised once again to "never" (or rather, never again) devalue the Yuan, Bloomberg reported Thursday that China is planning to lower imports on goods from other countries, thereby making US goods less competitive in the domestic Chinese market. The import cuts will reportedly take effect in October.

The decision effectively kills two birds with one stone: It disadvantages US producers and allows China to boast about its progress in liberalizing its markets.

    China is planning to cut the average tariff rates on imports from the majority of its trading partners as soon as next month, two people familiar with the matter said, in a move that will lower costs for consumers as a trade war with the U.S. deepens.

[Frank Cannon]

China is circling the drain and this won't do a damn thing to help their week position.

[To-Whose-Benefit?]

China is circling the drain and this won't do a damn thing to help their week position.

Gotta pour it on, before they have time to make the diamonds in Botswana and oil in Venezuela pay.

[Wingnut]

We need to keep our boot on the throat of those Chinamen till they scream runkle.