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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsChina will retaliate with tariffs on $75 billion worth of US goods and resume auto duties
The Chinese State Council said it decided to slap tariffs ranging from 5% to 10% on $75 billion U.S. goods in two batches effective on Sep. 1 and Dec. 15.
It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts and components, which will go into effect on Dec.15. China had paused these tariffs in April.
[link:https://www.cnbc.com/2019/08/23/china-to-retaliate-with-new-tariffs-on-another-75-billion-worth-of-us-goods.html|]
And so the stock market takes another tumble... so much winning!
Newest Reality
(12,712 posts)how easy these things are to win, especially for a fire breathing dragon that makes most of what you consume and has heavy investments in your country and owns property, etc. It should go well.
USA! #1!!!
riverine
(516 posts)so now he has one.
Right before an election year and Democrats won't even vote on his shitty Mexico-Canada deal much less this one.
He is an ignorant buffoon.
Watchfoxheadexplodes
(3,496 posts)"Today when the fed falls in line you will see the stock market go up 400 points"
Falls in line? Just made me shake my head.
Johnny2X2X
(19,021 posts)Should have cut a deal when our economy looked like it was full steam ahead. China has no political pressure to cut a deal, they know Trump cannot afford to go into next year without a deal, they will gut him in negotiations.
Here's the thing, Obama already had a better deal with China in place, it wasn't perfect, but we used the system in place to affect change and solve disputes. And, the TPP was going to be the most powerful tool yet to pressure China, it would have given the US a much better hand. Obama had a strong position with China, Trump threw it away.
Trump will get nothing, in fact China will ask for concessions from where they started.
Hoyt
(54,770 posts)openly criticized Obama, etc. That helped elect trump.
panader0
(25,816 posts)Trump will blow another fuse.
Takket
(21,550 posts)Even if they suffer a bit short term they know drumpf and his stupidity are not long for this world so it will be more profitable to wait than capitulate. In the mean time the American people are the ones that suffer.