China raising tariffs on $60 billion of US goods

Mar 2012
56,122
37,700
New Hampshire
#1
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods.
Beijing will increase tariffs on more than 5,000 products to as high as 25%, the Chinese Finance Ministry said Monday. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.

The move follows President Donald Trump’s decision to raise duties on $200 billion in Chinese products to 25% from 10%. The world’s two largest economies have struggled to ink a trade deal and end a widening trade conflict that threatens to damage the global economy.

The latest shot in the trade war rattled investors. U.S. stock futures signaled a sharp drop Monday morning amid the escalation.

The duties in large part target the U.S. agriculture industry, which has suffered from previous shots in the Trump administration’s trade war with China. The thousands of products include peanuts, sugar, wheat, chicken and turkey.

China is raising tariffs on $60 billion of US goods starting June 1
 
Likes: pragmatic
Mar 2012
56,122
37,700
New Hampshire
#5
Senator Sherrod Brown says that tariffs are an effective tool against the enemy's of the United States, but when it comes to China it could be costly.

"The President needs a real strategy here on what the endgame is, not just do these tariffs because they sound good or a great tweet," said Sen. Brown. "But do the tariffs that will end up having a positive impact on the long term economy and the long term relationship with China. I don't think he has done that."

Sen. Sherrod Brown weighing in on recent Chinese tariffs
 

Blueneck

Former Staff
Jun 2007
54,256
40,971
Ohio
#7
Senator Sherrod Brown says that tariffs are an effective tool against the enemy's of the United States, but when it comes to China it could be costly.

"The President needs a real strategy here on what the endgame is, not just do these tariffs because they sound good or a great tweet," said Sen. Brown. "But do the tariffs that will end up having a positive impact on the long term economy and the long term relationship with China. I don't think he has done that."

Sen. Sherrod Brown weighing in on recent Chinese tariffs
I'm watching CNBC and Kramer's bending over backwards to try to mansplain how the president knows what he's doing, lol.
 
Likes: bajisima
May 2013
17,713
16,862
Boise, ID
#8
Senator Sherrod Brown says that tariffs are an effective tool against the enemy's of the United States, but when it comes to China it could be costly.

"The President needs a real strategy here on what the endgame is, not just do these tariffs because they sound good or a great tweet," said Sen. Brown. "But do the tariffs that will end up having a positive impact on the long term economy and the long term relationship with China. I don't think he has done that."

Sen. Sherrod Brown weighing in on recent Chinese tariffs
This is about the 100th major idiotic thing Donald has done with his gut as opposed to consulting with experts - In this case, economic and trade experts.

Next up - War with Iran. Good times! :rolleyes:
 
Mar 2012
56,122
37,700
New Hampshire
#10
I'm watching CNBC and Kramer's bending over backwards to try to mansplain how the president knows what he's doing, lol.
Last Friday we had a district meeting and the blue collar guys were cheering this would happen. They love this stuff. They think getting rid of all the trade agreements and putting in tariffs is the best thing ever. This guy has been all over the news channels touting how great these tariffs are.

https://www.bizjournals.com/twincit...ies+(Minneapolis+/+St.+Paul+Business+Journal)
 

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