Trade war: Trump raises tariffs on $200bn of Chinese goods

Trade war: Trump raises tariffs on $200bn of Chinese goods

According to the Wall Street Journal "The new hard line taken by China in trade talks-surprising the White House and threatening to derail negotiations-came after Beijing interpreted recent statements and actions by President Trump as a sign the USA was ready to make concessions, said people familiar with the thinking of the Chinese side". While it has fallen 1.3% this week, the currency rose on Friday after the People's Bank of China set its daily fixing at a stronger-than-expected level.

That stoked some optimism, helping USA shares cut losses on Thursday. "It was their idea to come back", he said in response to a question. So far, though, the president has shown himself to be beyond capable of protecting American interests while growing the economy. Upon taking office, Trump pulled out of the Trans-Pacific Partnership, walking away from 12-member trade alliance that would have aided efforts to outcompete China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No! They're building aircraft like you've never seen.

But shipments of civilian aircraft fell $0.7 billion in March.

Another person close to the discussions said possible outcomes of this week's meetings include an "orderly breakup" of trade negotiations between the two countries.

Reuters on Wednesday revealed the extent of the rift that has opened between the two countries, reporting that a draft trade agreement text sent by Beijing on Friday night was riddled with changes that marked reversals in Chinese commitments that undermined core U.S. demands.

Mr Trump said last Sunday that he might extend penalties to all Chinese goods shipped to the United States. If Trump raises tariffs, Trade Partnership president Laura Baughman predicted that family's yearly costs would increase by $2,300, and nationwide job losses would climb to 2.1 million.

China responded to earlier US tariff hikes by imposing penalties on $110 billion of American imports but is running out of goods for retaliation due to their lopsided trade balance. However, China then said it had no intention of changing its laws for the deal.

But he held out hopes of salvaging a deal.


This is because China often pushes back on certain commitments while it negotiates.

The two countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets, part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries. In general, tariffs increase the costs on businesses and households - making it very hard for companies to focus on the long term.

The two countries are sparring over US allegations that China steals technology and pressures American companies into handing over trade secrets, part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries. Industries including electronics that the Communist Party is promoting as China's economic future have suffered declines of up to 40% in sales to the United States.

China appealed to the United States to help salvage the deal earlier on Thursday. President Trump has pledged to broaden tariffs even further to all Chinese imports - including big ticket items.

That means there could be some good news on the horizon.

Reaching a deal with China to end the tariff war would be only the first hurdle for the Trump administration.

Scott Kennedy, a China expert at the Center for Strategic and International Studies in Washington, said the talks were at a delicate stage and much depended on what sort of proposal Liu is bringing to Washington.

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