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China will raise tariffs on $60 billion in U.S. goods
Posted by: Steve G.
Date: May 13, 2019 11:32AM
China will raise tariffs on $60 billion in U.S. goods
[www.cnbc.com]

Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.
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The duties in large part target U.S. farmers, who largely supported Trump in 2016 but suffered from previous shots in the Trump administration’s trade war with China. The thousands of products include peanuts, sugar, wheat, chicken and turkey.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: deckeda
Date: May 13, 2019 11:59AM
Not to worry, many farmers in my area grow tobacco for Fine Quality American Smoking Products, for Fine Americans.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: pdq
Date: May 13, 2019 12:21PM
Seems fairly restrained to me, honestly. This is in response to Trump raising tariffs (up to 25%) on $200B of Chinese goods.

...and Trump just slapped a tariff on Mexican tomatoes.

I think if I were one of these foreign leaders, I would take the (minor) hit to my economy and tell Trump to jump in a lake. It’s only for 20 more months (I sincerely hope!), and if they actually reward this stuff, he’s only going to come back for more.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: Filliam H. Muffman
Date: May 13, 2019 02:26PM
For some farmers, they had contracts with China going back 20 years or more. Many family farms won't survive this because they can't live on the lower prices and don't want to deal with struggling to find a place to sell every year.



In tha 360. MRF User Map
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: Lemon Drop
Date: May 13, 2019 03:45PM
Trump keeps creating new multi-billion dollar aid packages to try and insulate American farmers from the harm he is doing through failed negotiations with China. He wants to look tough on China, a major campaign promise, even when doing so directly hurts Americans, our economy and the world economy.

China wants to look strong too, so it's hard to see how this ends well. I wonder how Trump's tweeting comes across to officials in China, with the never-ending string of high-handed threats and insults. That doesn't tend to play well in their culture.

ALSO - this is a key piece of Trump's strategy to win in 2020, by positioning himself as the best "tough negotiator" going up against China. He's claiming that China is holding back on making a deal with him because they hope to have a "weaker" person in charge of the US in 2020. Such as Joe Biden.



Edited 1 time(s). Last edit at 05/13/2019 03:57PM by Lemon Drop.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: cbelt3
Date: May 13, 2019 04:20PM
The fact that ONE INSANE PERSON can cause this much damage in a 'trade war' is a terrible problem with our government. We relied on common prudence to keep us on an even keel for so many years. Crap.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: neophyte
Date: May 13, 2019 05:52PM
Quote
cbelt3
The fact that ONE INSANE PERSON can cause this much damage in a 'trade war' is a terrible problem with our government. We relied on common prudence to keep us on an even keel for so many years. Crap.

Yep, Prudence took a crap on all of us.
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Re: China will raise tariffs on $60 billion in U.S. goods
Posted by: vision63
Date: May 15, 2019 02:41AM
Trump creating as many obstacles as possible. He's no idea how to do this
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