Trump turns up the heat in trade conflict with China

Eileen GuzmanSep 08, 2018

Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant USA technological supremacy.

Over the first eight months of the year, China's surplus with its largest export market has risen almost 15 percent, adding to tensions in the trade relationship between the world's two largest economies.

The number missed analysts' forecasts that shipments from the world's largest exporter would rise 10.1 percent, slowing only slightly from 12.2 percent in July.

"Now we've added another US$200 billion", Trump said in remarks that were initially off the record but which he later told reporters they could publish.

U.S. President Donald Trump said on Friday that he has tariffs ready to go on a further $267 billion worth of Chinese imports, as the world awaits his decision on imposing levies on $200 billion worth of the Asian nation's goods.

If Mr Trump were to follow through with all his threats, his administration ultimately would impose tariffs on $517 billion of Chinese goods.

Chinese exports to the United States rose to US$44.4 billion in August, a 13.2 per cent increase from the same period previous year, according to customs data.

While no one predicted a sudden, sharp blow from USA tariffs, China's official export data has been surprisingly resilient so far, with growth exceeding analysts' expectations for five months in a row.

This new round of tariffs would bring the total imports from China subject to tariffs to more than $500 billion, or close to the total amount of goods that China exports to the U.S.

China's imports from the United States grew only 2.7 percent in August, a slowdown from 11.1 percent in July. And I hate to say that, but behind that, there's another $267 billion ready to go on short notice if I want. "That totally changes the equation".

Kudlow's comments indicated the United States is looking for a deal with China to end the trade war between the world's two biggest economies.

But businesses warn there are other ways China can strike back, through regulations and other administrative means, or even through sales of its large holdings of US Treasury debt.

"We'll continue to talk to China", he said at the White House on Wednesday. The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

The last effort at a negotiated solution came in late August with meetings between low-level officials, but nothing came of it.

Data from China's General Administration of Customs showed that exports to the USA in August jumped by 6.9 per cent from July to US$44.38 billion, but imports dropped by 0.9 per cent to US$13.3 billion.

"China will have to take necessary countermeasures if the United States side ignores the opposition of the overwhelming majority of its enterprises and adopts new tariff measures", Commerce Ministry spokesman Gao Feng said Thursday.

Related Articles:



« Previous article
Next article »


Popular Pages

Bitcoin falls off a cliff again as cryptocurrency slump deepens
Its report suggests the bank was looking for regulatory developments that haven't yet materialized. The rest of the top five cryptocurrencies by market cap toppled by more than 12 percent.

Dallas officer enters apartment thinking it's her own, fatally shoots man inside
Police believed, based on the circumstances, that they were investigating an officer involved shooting. A Dallas man is dead after police say an officer accidentally entered his apartment.

Post Malone Involved in Car Crash Weeks After Emergency Plane Landing
A month ago, Post Malone was on a Gulfstream IV when the plane's tires blew during takeoff from Teterboro Airport in New Jersey. Post Malone after near-death emergency plane landing on August 21st after he landed safely in New York's Stewart Airport.

The Internet Is Undefeated With These Colin Kaepernick-Inspired Nike Memes
But Woods, though he has been a Nike-sponsored athlete since turning professional in 1996, does not appear in the advert. The NFL should have taken a bold stand on this, but they fumbled it badly and now Nike is piling on.

Rapper Mac Miller dead, report says
The pair dated for nearly two years and recorded multiple songs together, including "My Favorite Part and "The Way". Shortly after his auto accident and arrest that same month, Grande tweeted "pls take care of yourself".

Japan charmed by 'new heroine' Osaka after Grand Slam breakthrough
Naomi Osaka , of Japan , celebrates after defeating Madison Keys during the semifinals of the U.S. Realising she had caused confusion, she added: "That's a Pokemon quote, I'm sorry".

Rapper Mac Miller dies in Los Angeles at age 26
He had allegedly wrecked his Mercedes-Benz G Class vehicle by slamming into a utility pole, and fled the scene of the crash. Law enforcement officials told the website that Miller was found dead at his Los Angeles home on Friday around noon.

Lane Johnson takes another shot at Patriots after Eagles opening night win
Fourth down saw a hopeful heave by Ryan also go through the back of the end zone, but a penalty gave the Falcons one last try. Due to a severe thunderstorm, the kickoff time for the Falcons-Eagles game in Philadelphia has been pushed back to 9:05 p.m.

IPhone 9 may be Apple's most expensive iPhone yet
As for cost, the 5.8-inch model might start at $899 (roughly Rs 64498), while the 6.5-inch model may go for $999 (approx 71673). The team used an Apple Watch simulator to runtime latest Xcode beta to see the difference in pixels on the Watch 4 and Watch 3.

UK Professor Mifsud who linked Trump campaign with Russian Federation dead
In response, defense lawyer Thomas Breen said his client was "remorseful" that his lies impeded the investigation. The judge who sentenced Van der Zwaan, by contrast, did not feel he was contrite about his crimes.