UPDATE: Trump administration targets $50 billion in Chinese electronics, aerospace and machinery
Last edited Tue Apr 3, 2018, 06:37 PM - Edit history (1)
Source: Washington Post
The Trump administration Tuesday unveiled its list of roughly $50 billion in Chinese electronics, aerospace and machinery products it plans to hit with steep tariffs, the latest move in a deepening U.S.-China trade conflict.
The 25-percent import taxes are designed to penalize China for discriminatory policies that the United States says puts its companies at a disadvantage in the Chinese market. President Trump has complained that the Chinese government forces U.S. companies to surrender their proprietary technology in return for access to the Chinese market and engages in cyber theft to acquire other American trade secrets.
Trumps latest protectionist move threatens to upend global supply chains for corporations such as Apple and Dell, raise prices for American consumers who have grown accustomed to inexpensive products and aggravate tensions between the worlds two largest economies.
The pain will be very visible and the potential gains will be very abstract. The administration hasnt prepared the U.S. for the downsides of a trade war, said Brad Setser, a former White House economist in the Obama administration.
Read more: https://www.washingtonpost.com/business/economy/trump-administration-targets-chinese-electronics-aerospace-and-machinery-goods-with-50-billion-in-tariffs/2018/04/03/9be42e5e-3786-11e8-9c0a-85d477d9a226_story.html?utm_term=.3eff9cb24d12
Updated full headline: Trump administration targets $50 billion in Chinese electronics, aerospace and machinery goods with tariffs
Full orignal headline: Trump administration targets Chinese electronics, aerospace and machinery goods with $50 billion in tariffs
Original article -
In the latest move in a deepening U.S.-China trade conflict, the Trump administration made public a list of Chinese products it plans to hit with steep tariffs.
The 1,300 proposed tariff increases are designed to penalize China for policies that U.S. trade officials say put American companies at a disadvantage in the Chinese market. But business groups have warned they could backfire on U.S. companies such as Apple, Google, IBM and Dell.
This is a developing story. It will be updated.
Trump escalates trade tensions with China
By ADAM BEHSUDI
04/03/2018 05:17 PM EDT
President Donald Trump escalated his trade war with China on Tuesday by threatening to slap new tariffs on $50 billion in imported goods ranging from bakery ovens to ball bearings.
The action is the latest step in Trumps trade offensive that aims to punish Beijing for pursuing policies accused of bolstering its own technological and economic development at the expense of U.S. companies. The tariffs are likely to invite even more retaliation from China, which has already hit back against separate U.S. trade restrictions on steel and aluminum by hiking tariffs on $3 billion worth of U.S. imports of pork, scrap aluminum, wine and other agricultural products.
On March 22, Trump directed his administration to take action after a monthslong investigation into allegations that Beijing is forcing U.S. companies to transfer valuable technology as a condition of doing business there. The proposed list published Tuesday includes 1,300 products that will be subject to new tariffs after a public comment period.
The value of the product list would equal to the annual damage the Trump administration says U.S. companies suffer as a result of Chinas technology transfer policies. The levies are aimed primarily at manufacturing sectors China is accused of bolstering through state-backed companies and programs.
https://www.politico.com/story/2018/04/03/trump-china-tariffs-technology-454222
Here we go.
Foxconn? And noticed that it seems "clothing/textiles" might not be included here.
Edit to add -
https://www.youtube.com/watch?vR5BconTPNDk
Eliot Rosewater
(31,134 posts)Last edited Tue Apr 3, 2018, 06:03 PM - Edit history (3)
We cant go forward until deplorables no longer exist
I really hate it when people KNOWINGLY take my comment and try to make it mean something it doesnt
For instance ANYONE WHO KNOWS ME knows this means when they die off, naturally.
But people who are out to SILENCE democrats will see another meaning.
Otherwise you could find ONE post of mine suggesting violence, and they cant. I am losing patience with the D party haters
Bernardo de La Paz
(49,069 posts)We cant go forward until deplorables no longer exist
LanternWaste
(37,748 posts)Trump voters are not part and parcel of any one ethnicity; hence, genocide is certainly not the most accurate term available.
Please do not minimize nor trivialize the weight of actual genocide on DU by applying it merely to fit your own narratives.
Eliot Rosewater
(31,134 posts)god dammit this SHIT pisses me off
But I am an UNCONDITIONAL supporter of the Democratic party so I am a MAJOR target. that is a FACT
Bernardo de La Paz
(49,069 posts)You edited the post.
Nobody accused you of committing genocide.
Eliot Rosewater
(31,134 posts)Stop attacking me, I am a DEMOCRAT...stop!
I edited out NOTHING, I added to the post after YOU accused me of genocide
THAT is the FACT
sandensea
(21,713 posts)Bernardo failed to accurately read your post, apparently.
iluvtennis
(19,905 posts)sandensea
(21,713 posts)I do hate misunderstandings.
George II
(67,782 posts)mcar
(42,465 posts)What ethnicity are Dotard voters?
ehrnst
(32,640 posts)NurseJackie
(42,862 posts)Freethinker65
(10,105 posts)bronxiteforever
(9,287 posts)RainCaster
(10,952 posts)So let's see how all this winning goes. I've got my popcorn.
keithbvadu2
(37,039 posts)Dotard says 'Trade wars are good, and easy to win'
https://www.google.com/search?q=trade+wars+are+easy+to+win&sitesearch=democraticunderground.com
SergeStorms
(19,204 posts)Or is that, 'whining'?
NewJeffCT
(56,829 posts)in anticipation of China retaliating more.
Kittycow
(2,396 posts)still_one
(92,502 posts)and Korea, fruits and vegetables to South America, and buy other products from Europe and other countries.
We have a hell of a lot more to lose than China does, since China has a lot of other options available to them.
A lot of folks may not remember when Jimmy Carter boycotted the Olympics being hosted in Russia, and also implemented a wheat embargo to protest Russia's human rights abuses. The ones who were hurt in that were the U.S. athletes, and the American farmers. Russia sure wasn't hurt, and the same thing will occur with this, but it has the potential to have far more serious economic impact
Kittycow
(2,396 posts)I've admittedly been fixated on soybeans since it's a pretty big export and I've been waiting for those trump voting farmers to react to this.
So far I've been looking for hog farmers reaction in the local papers online but I've only found what their agricultural boards and associations are saying.
I guess I want at least one or two of them to admit publicly that they were duped.
still_one
(92,502 posts)paleotn
(18,012 posts)will get screwed. Karma is going to bit them in the arse, and they will blame everyone else but themselves.
BumRushDaShow
(129,951 posts)Kittycow
(2,396 posts)The soybean tariff is going to hurt his farmer voters big time!
NastyRiffraff
(12,448 posts)he knows very little about business, and almost nothing about trade. Either that or he's deliberately trying to tank the U.S. economy.
BumRushDaShow
(129,951 posts)By keeping people flustered continually, you wear them out, and then they become more malleable to propaganda.
docgee
(870 posts)progressoid
(50,013 posts)still_one
(92,502 posts)still_one
(92,502 posts)and produce, meats, fruits and vegetables to Europe and South America
sdfernando
(4,948 posts)China decides to stop purchasing US Treasury bonds. We'll be in some deep shit then.
Trade wars are easy to win??? sure, but which side is winning?
god how I hate the Spanky!
groundloop
(11,532 posts)45* (i.e. spanky) will absolutely fuck over everyone else but he damned sure won't do anything to cost himself or his clan one red cent.
progressoid
(50,013 posts)And screw their debtors again.
NickB79
(19,297 posts)herding cats
(19,569 posts)I'm speculating on what China hits back with next.
Iliyah
(25,111 posts)Maxheader
(4,374 posts)Wouldn't think boeing and all the others will like this. Cheetox
is killing retirement savings for americans..piece of shit.
roamer65
(36,748 posts)If I were the Chinese, Id go right for the jugular.
KY_EnviroGuy
(14,500 posts)Could put much of our electronics industry in the shitter. Another similar one I thought of would be a hefty export duty on batteries of all types. That would get a lot of consumer attention, along with companies like Tesla.
No winners here that I can see, except perhaps for those who can afford to hedge the stock and commodities markets.
Sgent
(5,857 posts)dominated by China. Taiwan, Japan, Singapore and S Korea are all bigger manufacturers, and Tesla makes theirs in the US. Lithium is mostly Australian and Argentianian.
KY_EnviroGuy
(14,500 posts)So, China does not dominate the lithium supply. Wasn't aware Tesla was making their own now. I have seen cell phone and other consumer batteries made in China, though.
In essence, you're saying they can't hold us hostage over batteries. Do they control the majority of supply of any other rare metals?
I believe they are heavily invested in the copper and iron ore supply chains.
Sgent
(5,857 posts)really kill us on is (as you alluded to), rare earth metals which are needed for electronics. That said, they aren't the only supplier, but it could take a few months (or longer) for other suppliers to ramp up production. The US has the largest proven reserves, but our mines are basically on standby (ie -- they aren't used but they aren't completely boarded up, for just this reason).
SleeplessinSoCal
(9,177 posts)KY_EnviroGuy
(14,500 posts)Stir up shit on both political sides to create max. turmoil, then apply a little bias against his base for the home run.
Who knows......maybe throw in a little Twitter and Facebook trolling for added measure.
........ ...........
iluvtennis
(19,905 posts)sources setup for consumers. Has Trump identified the American companies (or companies from other nations) who will backfill the product supplies that will have 25% tariffs. It's a rhetorical question,
Midnight Writer
(21,845 posts)Hangs at Mar A Lago.
Pretty bad for the long term saver who is just trying to grow his retirement fund, or send his kids to college, or buy a new house.
joshcryer
(62,287 posts)It will only speed up automation.