China will retaliate with tariffs on $75 billion worth of US goods and resume auto duties

[Soph0571]

China said Friday it will impose new tariffs on $75 billion worth of U.S. goods and resume duties on American autos.

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]

1. It is just amazing

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]

2. They should. The Asshole in Chief wants a trade war

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. Navarro on CNN earlier

"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]

4. Trump has no leverage over China

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]

7. Agree. trump was, however, aided by a couple of Democrats who opposed TPP, supported tariffs,

openly criticized Obama, etc. That helped elect trump.

[panader0]

5. On the eve of the G7.

Trump will blow another fuse.

[Takket]

6. China is playing the long game

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.