Trade War with China

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Totoro

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The above linked business insider article said "The Chinese Ministry of Commerce on Tuesday that it would levy tariffs of between 5% and 10% on $60 billion of new US goods being imported into China, with 5,207 individual products impacted. They will take effect from September 24." Of course, it may indeed be an error. Especially if other publications have it at between 5 and 25%.

But then there's the likes of BBC
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which says:
"The Chinese commerce ministry said it would impose its tariffs from 24 September - the date the US duties come into effect - but at lower rates than previously expected.
The tariff rates will be levied at 5% and 10%, instead of the previously proposed rates of 5%, 10%, 20% and 25%."

I'm sure the true figures will be clear in a matter of days.
 
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TheDonaldGeneral

New Member
Registered Member
Totoro said:
The above linked business insider article said "The Chinese Ministry of Commerce on Tuesday that it would levy tariffs of between 5% and 10% on $60 billion of new US goods being imported into China, with 5,207 individual products impacted. They will take effect from September 24." Of course, it may indeed be an error. Especially if other publications have it at between 5 and 25%.

But then there's the likes of BBC
Please, Log in or Register to view URLs content!
which says:
"The Chinese commerce ministry said it would impose its tariffs from 24 September - the date the US duties come into effect - but at lower rates than previously expected.
The tariff rates will be levied at 5% and 10%, instead of the previously proposed rates of 5%, 10%, 20% and 25%."

I'm sure the true figures will be clear in a matter of days.
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Peoples Daily
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China Daily -
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Hendrik_2000

Hendrik_2000

Lieutenant General
But but it could be additional tax on top of 25% tax levy on the previous list
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Beijing’s plans for tariffs on $60 billion of U.S. goods includes an additional 5 percent in duty on about 1,600 kinds of U.S. products including smaller aircraft, computers and textiles and extra 10 percent on more than 3,500 items including chemicals, meat, wheat, wine and LNG. In a previous announcement from August, those products had faced extra tariffs of up to 25 percent.
 
plawolf

plawolf

Lieutenant General
It Come on guys, China is not interest in the kind of simiplist school playground pissing contest that is merely seeming who can levy more tarriffs.

Some of you seem to be forgetting that any tarriffs China imposed will be paid by Chinese companies and consumers, just as US levied tarriffs will come out of the pockets of American companies and consumers.

Where there is limited to no alternatives to American imports, slapping high tarriffs will just mean Chinese companies end up paying more in tariffs and gets saddled with higher costs, making them less competitive globally (consumer goods will not be given such consideration).

Although any American companies being hit with the low 5% tarrif or no tarrifs should also be worried, since their industry and products are probably now high on Beijing’s investment and import substitution drive.
 
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Anlsvrthng

Captain
Registered Member
AndrewS said:
You do realise that Trump's tweets often bear no relation to reality?

If you do your own research, you can see US wage increases are mainly being driven by the labour shortage trend, which started before Trump.

I think it would be best to not to quote Trump on economic matters, since he has such a weak grasp of the subject.
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Trump MAKE the economical conditions and plans, not the other way around.

He targeting the higher wages for low economic status Americans, and the Chinese customs are a way to get there ,not the ultimate target.

From the Chinese standpoint the Trump policy targeting China, from Trump standpoint it targeting the low employment opportunity / income of many low educated Americans.

And the customs actually works , by textbook.

Of course this is only one component, but without customs (or equivalent Chinese type industrial policy) it is not possible to make them works.
 
AssassinsMace

AssassinsMace

Lieutenant General
I read an article a couple weeks ago that said the Chinese leadership was learning to speak "hick" to understand Trump. Nonsense. Why not instead watch mafia movies because Trump thinks he's a New York tough guy? It doesn't take much to understand the gangster mentality of Trump. Look at Trump's recent tweet telling farmers and factory workers not to blame him but blame China. I think China understands "hick" very well.
 
Jura The idiot

Jura The idiot

General
Today at 4:56 PM
Hendrik_2000 said:
But but it could be additional tax on top of 25% tax levy on the previous list
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Beijing’s plans for tariffs on $60 billion of U.S. goods includes an additional 5 percent in duty on about 1,600 kinds of U.S. products including smaller aircraft, computers and textiles and extra 10 percent on more than 3,500 items including chemicals, meat, wheat, wine and LNG. In a previous announcement from August, those products had faced extra tariffs of up to 25 percent.
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more info about what you mentioned inside:
China to impose tariffs on additional $60 bln of US imports
Updated 2018-09-18 22:57 GMT+8
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China will impose additional tariffs on US imports in retaliation against new US tariffs on Chinese goods, according to an official statement released by the Finance Ministry on Tuesday.

Approved by the State Council, the Customs Tariff Commission of the State Council has decided to impose additional duties of either five or 10 percent on 60 billion US dollars' worth of US products.

The new tariffs will be applied to 5,207 US products ranging from farm products, liquefied natural gas (LNG) and machinery to chemicals.

The additional duties will take effect at 12:01 a.m. on Sept. 24, 2018.

The Trump administration announced on Monday it will proceed with 10 percent tariffs on 200 billion US dollars of Chinese goods. China responded saying it has to fight back to safeguard its legitimate rights and interests as well as the global free trade order.

China's proposed tariffs, which were pledged when the US first announced its tariff plan on 200 billion US dollars of Chinese imports, are a lower volume than the original plan.

The tariff rates will be levied at five and 10 percent, instead of the previously proposed rates of five, 10, 20 and 25 percent, according to the statement.

China will impose a 10 percent tariff on US products it previously designated for a rate of 20 and 25 percent. Liquefied natural gas (LNG), for example, was previously under the 25 percent tariff category but now will be subject to a tariff of 10 percent.
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AndrewS

Brigadier
Registered Member
Anlsvrthng said:
Trump MAKE the economical conditions and plans, not the other way around.

He targeting the higher wages for low economic status Americans, and the Chinese customs are a way to get there ,not the ultimate target.

From the Chinese standpoint the Trump policy targeting China, from Trump standpoint it targeting the low employment opportunity / income of many low educated Americans.

And the customs actually works , by textbook.

Of course this is only one component, but without customs (or equivalent Chinese type industrial policy) it is not possible to make them works.
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No, that is simply not true.

Trump is placing tariffs solely on Chinese imports. But these tariffs won't mean factories or jobs going to the USA. They will go to places like Vietnam, India and Mexico, which have lower labour costs than China.

So tariffs will just increase costs, particularly for low-income Americans.

If Trump really wants those factories and jobs to come back to the USA, he has to place tariffs on Vietnam, India and Mexico and most other developing countries as well. But he has not done this.

Plus if Trump were concerned with "low economic status Americans", why is Trump taking away their healthcare benefits?
Healthcare costs in the USA are ridiculously high and have to be paid privately.
 
2handedswordsman

2handedswordsman

Junior Member
Registered Member
AndrewS said:
No, that is simply not true.

Trump is placing tariffs solely on Chinese imports. But these tariffs won't mean factories or jobs going to the USA. They will go to places like Vietnam, India and Mexico, which have lower labour costs than China.

So tariffs will just increase costs, particularly for low-income Americans.

If Trump really wants those factories and jobs to come back to the USA, he has to place tariffs on Vietnam, India and Mexico and most other developing countries as well. But he has not done this.

Plus if Trump were concerned with "low economic status Americans", why is Trump taking away their healthcare benefits?
Healthcare costs in the USA are ridiculously high and have to be paid privately.
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I agree :) Trump is a populist surely but not a "left wing" like @Anlsvrthng tries to show .

Man you have a rare ability to distort reality for sure( that goes to @Anlsvrthng )

Anyway moving factories from a country to another is not a simple thing , it requires huge amount of money and also valuable time
 
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