Trump To Slap $16 Billion In New Tariffs On Chinese Imports Starting August 23

Completing the latest round of tariffs pledged against China, the US Trade Representative announced on Tuesday (after the close of course) it will impose 25% tariffs on $16 billion-worth of Chinese imports starting August 23. The new round of tariffs completes Trump's previously disclosed threat to impose $50 billion of import taxes on Chinese goods. The first $34 billion-worth went into effect on July 6th.

According to the USTR statement, customs will collect duties on 279 product lines, down from 284 items on the initial list; as Bloomberg notes, this will be the second time the U.S. slaps duties on Chinese goods in about the past month, overruling complaints by American companies that such moves will raise business costs, tax US consumers and raise prices.

On July 6, the U.S. levied 25% duties on $34 billion in Chinese goods prompting swift in-kind retaliation from Beijing.

Of course, China will immediately retaliate, having vowed before to strike back again, dollar-for-dollar, on the $16 billion tranche.

The biggest question is whether there will be a far bigger tariff in the near future: as a reminder, the USTR is currently also reviewing 10% tariffs on a further $200 billion in Chinese imports, and may even raise the rate to 25%. Those tariffs could be implemented after a comment period ends on Sept. 5. President Donald Trump has suggested he may tax effectively all imports of Chinese goods, which reached more than $500 billion last year.

Over the weekend, Trump boasted that he has the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout. Judging by the US stock market, which has risen by $1.3 trillion since Trump launched his trade war with China, which has crushed the Shanghai Composite, whose recent drop into a bear market has been duly noted by Trump, the US president is certainly ahead now, even if the market's inability, or unwillingness, to push US stocks lower has led many traders and analysts to scratch their heads.

Full statement below:

Comments

Free This Tue, 08/07/2018 - 17:19 Permalink

bwahahahahahahahahahahahaah, right up their stupid chuffers!! Go Trump!!!

All the useless eaters that hate you, will be eating crow soon enough.

Down down down, there's a burnin' ring of fire!

Scar Bro 07564111 Tue, 08/07/2018 - 17:30 Permalink

USA is the most cucked population on the planet. The jews won't even let them have a fucking foreskin. The circumcision rate in the U.S is similar to muzzie 3rd world nations. And while apparently in Europe we're being "run by Shariah", we still get to keep our foreskins - you're being played like the dumb goyim you are.

In reply to by 07564111

Offthebeach Scar Bro Tue, 08/07/2018 - 18:18 Permalink

You losers cried when the jews were in poduk vills in the middle of nowhere.   You cried when they were walled in town.  You killed and chased them to the malaria swamps for your once saviour, fount of culture and meaning you have lost.  You denigrate Americans that saved, died and picked up the tab 3 times.  You cower before a weak Russia, and Islam now half of your barren wombs.

Losers, for  generations now. A elderly, walking dead.  Biding time in the old house , until the muslim kids kick you out like blacks to white South African farmers.

 

In reply to by Scar Bro

COSMOS Offthebeach Tue, 08/07/2018 - 20:01 Permalink

What the fuck they were dumb enough to go up against the Roman empire not my fault they got the same treatment as other regions that rebelled against the Romans.  The Roman empire devoured many regions and peoples who lost their humble abodes.

They opened the city gates for the Arabs in Spain and reaped great rewards being administrators for a bunch of third world arab butchers

They fund wars and profit from them

Im paying taxes for billions of free money for Israel

They form monopolies and actively exclude gentiles

They are some sexually depraved fucks like Harvey Weinstein

Im also bailing out Goldman Sachs and the rest of JWall Street via my tax money and depreciating dollar.

They are raping pension funds etc etc

AND I am supposed to feel sorry and cry for these schmucks.

So they can pursue all these ANTI Gentile policies but should one point out their crimes then one is labeled an ANTI Semite.

Just look at who is importing a bunch of third world scums into Europe via NGOs bringing them into the cities of Europe just like when they opened the city gates for the Arabs. 

Who controls the western media and keeps yelling Racism, Multiculturalism and Diversity for the goy but not for them?

 

 

In reply to by Offthebeach

Offthebeach COSMOS Wed, 08/08/2018 - 08:23 Permalink

Did they open Paris to the Nazis?  Almost to a man, the non jew Police in every country, went right to work assisting the new overlords.

Anyways, nothing you wrote is exclusive to jews.  People are untrustworthy .  That is the foundation of the Bill of Rights.  Even with Washington, and company, within those agust people, a drop dead bill was required to the Constitutional contract.

In reply to by COSMOS

To Hell In A H… Free This Tue, 08/07/2018 - 19:06 Permalink

The only thing Orange Jesus is eating, is the Schmuck from his Zionist handlers. Trump is an average IQ facilitator for Zionist goals, who can only serve up his base some niggers, like LeBron James. Orange Jesus is a 5x draft doger and his base buys into the nonsense that he is a patriot and loves the military.

I've encourage Trump in his trade war from the very beginning, because I know it will destroy the USSA quicker and thus I endorse it 100%. 

In reply to by Free This

Offthebeach The central planners Tue, 08/07/2018 - 18:27 Permalink

Yawn

Welcome to the party.

Long history of clueless Navy Officers, and not the best, being in a war zone and thinking a flag and a line on   wood pulp will protect them.  It wont.( See Stark, Pueblo )

There were at least two, if not three sinkings of US Subs, by the Navy in WWII.

US Navy AA shot down tens of DC-3 at the Sicily coast killing hundreds of paratroopers.

In Iraq the Air Force shot down Blackhawlks, bombed American and Allies.

If you weren't such keyboard soy boys you would know its immensly fatal, and you dont want to be anywhere near the shooting.  But if your life experience is school.followed by sitting at a terminal, well, thats what you know, know.

In reply to by The central planners

Offthebeach The central planners Wed, 08/08/2018 - 20:25 Permalink

US delivered 400,000 Sudabaker trucks to Stalin.  96% of all aviation gasoline . In todays dollars, near a trillion.  

Peter Sellers made a cute film, "The Mouse That Roars".  Europe got bailed out , a bit, then more, 3 times by the US.  Lord Keynes called his inter war trips to the US as begging missions. 

So the point if one is not dumb as a fence post,  is be nice to America.  But the stupid is strong

In reply to by The central planners