China's commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning.
The U.S. goods, which had an import value of $3 billion in 2017, include wine, fresh fruit, dried fruit and nuts, steel pipes, modified ethanol, and ginseng, the ministry said. Those products could see a 15 percent duty, while a 25 percent tariff could be imposed on U.S. pork and recycled aluminium goods, according to the statement.
Wait, I thought they were trying to hurt the USA? More bacon for me!
Smithfield ham is a Chinese company now.
And how much is the USA getting from their tariffs? $60 billion? Whoopdie-fucking-doo, China. This is the price you pay for building your economy on theft.
Well Chinese will understand that the good old days of thieving is over.
Can they have a list of Australian products to boycott too I'm fucking sick of the Chinese buying all the shit in our supermarkets to sell to their shithole Only $3 B is actually suprising also impressive, I think Australia is at least $10B
I guess Chinese consumers of wine, ginseng, fruit, nuts etc will have to get used to paying higher prices.
on the surface level but then what happens when those companies decide to take business elsewhere, suddenly that tariff that gives 60 billion dries up. of course you would assume that they would just take it up the ass and keep doing business with the US being the kind of simpleton that trump is. I know how to make money! tarrifs! they never fail!
The point of the Tariffs is not to make money. Its to prevent local industries being undercut by dirt cheep foreign imports.
China subsidises its steel and aluminium industry by manipulating its currency. Thats kinda like having a duty without actually having a duty. In my country the Steel industry has closed down entirely because it couldnt compete with imports that were subsidized by the Chinese state.
and you don't think they'll just shift to other countries that will still undercut prices selling you chinese goods? you're not going to bring back a dying industry with tariffs because you can't adapt to an evolving market
Everything that can be manufactured overseas (like your mobile phone) already is manufactured overseas. So its not part of the equation. Tariffs on the import of raw materials apply to things that have to be manufactured locally.
Lets say US made steel is 5% more expensive than Chinese imported steel, the US then puts a 10% Tariff on Chinese steel imports. Which means that US customers will now have to pay 5% more for their steel. But the up side is that they would generate millions of jobs by invigorating their steel industry. That is the whole reason why the Chinese government subsidises its metal production industries at its own expense. To give millions of people a job and obviously those people then pay taxes and contribute to the economy in other ways.
Tariffs are a market control which goes against the free market, learn basic economics you commie trash!
What kind of mouth sewage is this? Dying industries? What the fuck are you on, nigger? These companies are still in the USA, idiot. That's why they're exporting. Are you seriously implying a business exporting goods means the business exports itself to the foreign country and is no longer local? Blow your brains out.
But so is manipulating your currency to lower the price of your exports like China has done for a couple of decades.
What Trump is aiming for is a fair market. Where the US is not at a disadvantage in trade all the time.
then tell you tech giants and social networks to pay a fair amount of taxes instead of hiding the numbers in fiscal paradises
How would that affect what China is doing with its currency?
i dunno, if you assume Trump is a good guy I just think he has his priorities lal out of whack. He should have been flushing the corrupt sewage out of the swamp from day one. He should have just flat out attacked the media and revealed the collusion with intelligence services and NGOs. He should have just flat out fired everyone that was provably corrupt. He just hasn't really kicked heads. He is giving too much of a fuck about the economy and foreign policy rather than cleaning house and restoring trust in the government and leadership of the country. Hell, go after the alien or space question, just go hard, get information for the people, what's going on in Antartica !?? Instead he just wants fuck around with this shit first, he could have done this stuff in his 2nd term. The 1st term was for smashing rats and getting information to the public and cleaning house.
hello comrade, thank you for your post wu mao has been added to your weixin account
I lost all trust when he failed on his promise to lock hillary up.
After gun control the lack of any wall and the coming recession Trump will be one of the least popular presidents
Stopping Chinese imports will actually cause the US economy to grow not shrink.
I guess you havent been reading the news but he just got funding for the entire wall throug the DOD budget.
But I agree on the gun control thing. He should just do what most presidents do and kick the can down the road.
The budget bill he just passed makes the wall impossible and you should look into Herbert Hoover and his economic policies for the US then look at the outcome of those policies. If you are a country who maintains relevance through trade it's a poor decision to stop trading.
The DOD just got hundreds of billions in their budget. One of their responsibilities is to secure the nations borders.
Hoovers economic polcies had mixed success. Obviously you cant tax and spend your way out of a depression, which is the situation Hoover inherited. But in the case of the modern day USA their south border has a leak. Its not fit for purpose. If you spend a bit of money making your infrastructure fit for purpose it usually brings a financial return quite quickly.
Obviously. For a country like Germany that is definitely true. But the US is not a country like that and nobody is proposing to stop trading so we dont need to worry about that.
no less. and more expensive. did you never learn about supply and demand?
Nice dubs but I think you read the OP incorrectly.
China is putting an import duty on American Bacon (among other things). That means it will become more expensive for Chinese people to buy bacon. That reduction in Chinese demand for bacon would cause an oversupply in the US market making bacon cheaper for Americans and other countries that buy bacon from the US.
Perhaps this is 4d chess by the Chinese. They have worked out that if Americans eat just a bit more bacon they will be too obese to worry about anymore.
Free markets are a fairy tale.
A free market can't exist while money is created out of thin air in the form of debt with no intrinsic value especially when subsidies are being doled out left and right.