U.S., China impose fresh tariffs with no trade talks in sight

[To-Whose-Benefit?]

Reuters
Young Lee
September 23, 2018 / 10:20 PM / Updated an hour ago

[excerpt]

https://www.reuters.com/article/us-usa-trade-china/new-u-s-china-tariffs-set-to-take-effect-no-compromise-in-sight-idUSKCN1M404F

BEIJING (Reuters) - The United States and China imposed fresh tariffs on each other’s goods on Monday, as the world’s biggest economies showed no signs of backing down from an increasing bitter trade dispute that has rattled financial markets.

U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of U.S. products took effect as of 0401 GMT.

The two countries have already slapped tariffs on $50 billion worth of each other’s goods earlier this year.


Chinese love to gamble, however, it's pretty tough to bluff their way into taking the pot when they don't have a hole card.