White House economic adviser Larry Kudlow played down the impact on U.S. consumers of additional tariffs on Chinese imports and suggested Beijing could strengthen the case for avoiding them being applied next month if they bought U.S. agricultural products. “From our talks internally, that would be a plus,” Kudlow said Friday in an interview on Bloomberg television. “That would be a very good plus if they start buying agricultural products in size. It would certainly help the story.” Beijing pledged to respond after President Donald Trump announced Thursday that he would impose a 10% tariff on a further $300 billion in Chinese imports, a move set to hit American consumers more directly than his other tariffs so far. The new import taxes, which Trump later said could go “well beyond” 25%, will be imposed beginning Sept. 1 on a long list of goods expected to include smart-phones, laptop computers and children’s clothing. “There is certainly … [Read more...] about Kudlow: China Buying US Ag Products Would Be ‘Good Plus’
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2018 was filled with aggressive posturing regarding trade protection by the US and China. Recently, this was escalated further. Discussions have apparently not taken place since the Trump administration ratcheted up its scrutiny of Chinese telecom companies. An agreement on trade is at risk since the negotiations between the US and China appear to have stalled as both sides dig in after disagreements earlier this May. Undoubtedly for investors, a protracted dispute between the world's two largest economic superpowers will surely impact Asian markets. But in what way? Continue Reading Below Asia's open economies Asia has some of the most open economies in the world and a trade war between the US and China will certainly jolt financial markets in the region. Though the situation appears grim, most multinational companies are fleet-footed and there are companies, industries, and economies that stand to benefit from the ongoing trade war. Laymen observers might suggest the US is … [Read more...] about US-China Trade War: Who Will be Asia’s Winners and Losers?
:: 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?
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
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