HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » China hits U.S. with tari...

Fri Aug 23, 2019, 07:40 AM

China hits U.S. with tariffs on $75 billion worth of goods, reinstates auto levies [View all]

Source: Washington Post

U.S. stock futures dived Friday after China announced retaliatory tariffs on $75 billion in U.S. goods and reinstated levies on American auto products.

The levies will range from 5 to 10 percent and will be put in place in two rounds, on Sept. 1 and Dec. 15 -- the same dates on which President Trump's latest tariffs on $300 billion in Chinese goods are slated to take effect, the Chinese finance ministry said in a statement. A 25 percent tariff on automobiles and a 5 percent tariff on auto parts will go into effect on Dec. 15.

"China's imposition of tariffs is a forced response to the unilateralism and trade protectionism of the United States," said the Communist Party-run Global Times. The outlet said it hoped the trade conflict would be resolved "on the premise of mutual respect and equality and trustworthiness in words and deeds.

Dow Jones industrial average futures, which had been predicting a 100-point gain at markets' open, sank immediately following the announcement of China's retaliation and now point to a 150-point loss.

Read more: https://www.washingtonpost.com/business/2019/08/23/china-hits-us-with-tariffs-billion-worth-goods-reinstates-auto-levies-state-media-report/



Full headline: China hits U.S. with tariffs on $75 billion worth of goods, reinstates auto levies, state media report

This was the tweet referenced in the OP article (from the editor of China's "Global Times" ) -



TEXT
Hu Xijin 胡锡进

@HuXijin_GT

Based on what I know, China will take further countermeasures in response to US tariffs on $300 billion Chinese goods. Beijing will soon unveil a plan of imposing retaliatory tariffs on certain US products. China has ammunition to fight back. The US side will feel the pain.
339
6:36 AM - Aug 23, 2019

16 replies, 1687 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 16 replies Author Time Post
Reply China hits U.S. with tariffs on $75 billion worth of goods, reinstates auto levies [View all]
BumRushDaShow Aug 23 OP
tanyev Aug 23 #1
oldsoftie Aug 23 #4
Watchfoxheadexplodes Aug 23 #2
Roy Rolling Aug 23 #3
usaf-vet Aug 23 #11
Newest Reality Aug 23 #5
Mike 03 Aug 23 #7
Lonestarblue Aug 23 #8
Newest Reality Aug 23 #9
dalton99a Aug 23 #14
Farmer-Rick Aug 23 #15
Farmer-Rick Aug 23 #13
Newest Reality Aug 23 #16
justgamma Aug 23 #6
yellowcanine Aug 23 #10
bdamomma Aug 23 #12