:: How did the China-US trade war start?President Trump has long attacked the trade deficit between the two countries, which in 2018 was $419.2bn (£322bn)The deficit means China sells far more to America than the US sends the other way.During his election campaign, Mr Trump said China was "raping" the US and hurting American businesses by selling things such as steel and aluminium cheaply. Advertisement Ian King's Sky Views Trump is in a winning position - but he may be about to throw it away China has been accused of "dumping" products on foreign markets because it subsidises the cost of some exports.Previous US presidents and countless businesses have also been frustrated by the way Beijing enforces regulations to penalise foreign companies. More from China China 'tired' of hearing US criticism on Belt and Road plans Crane operator, 19, saves 14 people from burning building in China Chinese spies 'used US hacking tools a year before Russians leaked … [Read more...] about US-China trade war: How did it start and what does it all mean?
Us china tariffs list of goods
The US is considering imposing tariffs on about $11bn (£8.4bn) worth of goods from the European Union in response to subsidies that support Airbus.The World Trade Organisation (WTO) has found that the subsidies have an adverse impact on the US. Aircraft and cheese are among the products that could be hit by tariffs, the US Trade Representative (USTR) said. The Trump administration has been fighting trade battles on many fronts. The move would mark an escalation in trade tensions between the US and the EU. The USTR said the value of goods that will be targeted with tariffs is subject to an arbitration at the WTO, the result of which is expected in a few months. A preliminary list of goods has been issued for public consultation. It covers a wide range of items, from helicopters to wine."This case has been in litigation for 14 years, and the time has come for action. The Administration is preparing to respond immediately when the WTO issues its finding on the value of US … [Read more...] about US proposes tariffs on $11bn of EU products
One tumultuous chapter of trade deliberations between the U.S. and China has ended, with both sides now hopeful that a far-reaching deal can be made before an imminent tariff deadline. Negotiations between U.S. and Chinese trade officials, which began Monday in the Commerce Ministry in Beijing, finally concluded on Wednesday as both sides sought to inch closer to an understanding on a number of disagreements. Originally intended to last only two days, continuing developments prompted negotiators to extend the talks for another day. “The extension of the talks indicates that both sides are serious about this consultation,” Chinese Foreign Ministry spokesman Lu Kang said of negotiations. “If the results of the talks are positive, it would be beneficial for both China and the US and good news for the global economy.” President Donald Trump also boasted about the progress, tweeting Tuesday that “Talks with China are going very well!” The next phase … [Read more...] about The Next Phase Of The US-China Trade Negotiations Begins
WASHINGTON - The U.S. and Chinese governments have been flashing a lot of bravado just before firing the first shots in a conflict that risks erupting into a mutually damaging trade war. “China will not bow in the face of threats and blackmail, nor will it be shaken in its resolve to defend global free trade,” a spokesman for Beijing’s Commerce Ministry declared Thursday, one day before the two sides were to subject billions of dollars of each other’s goods to punishing tariffs. President Donald Trump, who ran for the White House on a vow to force China and other nations to reform their policies, has insisted that a trade war would be easy to win. Yet among the people and business in both countries that are suddenly under threat from higher costs, closed-off markets and deep uncertainties, there’s far less confidence. A trade war between the world’s two biggest economies will leave casualties — from makers of musical instruments to farmers in … [Read more...] about Trump tariffs: US, China both likely to feel pain
New York (CNN)American importers can ask for an exemption from President Donald Trump's tariffs on steel and aluminum, and his first two rounds of tariffs on Chinese goods. But they're stuck paying duties if a product they import from China was included in Trump's most recent round of tariffs imposed in September, which covered $200 billion worth of goods including food seasonings, hats, furniture, network routers and industrial machine parts. The process to request an exemption has not yet been set up by the administration, nearly a month later, despite a new plea from 167 members of Congress. "The lack of such a process for this most recent list is a glaring omission, particularly given its size in relation to the first two lists," the bipartisan group of House members wrote in a letter sent to US Trade Representative Robert Lighthizer this week. The US Trade Representative's Office tells CNN that it has no announcement about opening up the exclusion process at this time. For … [Read more...] about US importers stuck with Trump’s latest China tariffs