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The US just raised tariffs on Chinese goods

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The United States has escalated its trade war with China, hiking tariffs on $200 billion worth of Chinese exports hours after trade talks held in Washington failed to produce a breakthrough.

Tariffs on the targeted exports increased from 10% to 25% at 12:01 a.m. ET on Friday, prompting a swift rebuke from Beijing.
The Chinese government expressed"deep regret over the development" and pledged to take"necessary countermeasures.""We hope the United States will meet us halfway, and work with us to resolve existing issues through cooperation and consultation," China's Ministry of Commerce said in a statement. The ministry did not give specifics on how it would respond.https://edition.cnn.com/2019/05/10/business/china-us-tariffs-trade/index.html?utm_content=2019-05-10T10%3A47%3A17&utm_term=link&utm_medium=social&utm_source=fbCNNi&fbclid=IwAR0thWk6LeA8_BT8oBkbzqVdsJ1SLjmtEOxHt7Dd47QjCsA2zWBiU7HfAmk
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dexter.ames
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"The tariff increase inflicts significant harm on US industry, farmers and consumers," said Jacob Parker, vice president of the US-China Business Council, a trade group that represents American companies' interests in China."It will decrease the competitiveness of American companies, reduce the efficiency of their global supply chains, and reverberate through the US economy. Pure and simple, this is a tax on the American consumer," he added. So what is the use of raising the tariff if it's the US consumers who will shoulder it.
3 mths
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What benefit will US get from this trade war with China?
3 mths
moll
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One issue is the price of imported washers went up, so did the price of the ones manufactured in the USA. Also dryer prices increased but they aren't imported. Hidden issue is many companies buy sub-assemblies from China and do final assembly here so those will increase in price. This is where there will be job losses as well as already established in agriculture.
3 mths
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One issue is the price of imported washers went up, so did the price of the ones manufactured in the USA. Also dryer prices increased but they aren't imported. Hidden issue is many companies buy sub-assemblies from China and do final assembly here so those will increase in price. This is where there will be job losses as well as already established in agriculture.
Finally someone gets it! The sub assemblies are gonna be the major issue. Lead times ate already crazy too.
3 mths
shahmir.khanclaudio.andreaprince.annicki
shahmir.khan, claudio.andrea, prince.annicki and 7 other people started following this discussion
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Hmmmm US and China.
3 mths
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Apple is parked right on the intersection. China could retaliate hard...but of not without costs.
3 mths
More than 50 people have joined this discussion.
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Good job, Trump. Stop China's expansion before it's too late.
3 mths
Host
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He has no clue about business, family, humanity, decency, diplomacy, nor truth.
3 mths
Host
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Change the tax laws. Provide incentives for the companies to produce in the USA and countries that are friendly to us.
3 mths
More than 100 people have joined this discussion.
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Increasing tariff on foreign goods that are available locally is a good one. It will bring more jobs.
3 mths
Host
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Increasing tariff on foreign goods that are available locally is a good one. It will bring more jobs.
Tariff is paid by consumers not China.
3 mths