Trump orders tariff hike on remaining Chinese imports

Jeannie Matthews
May 14, 2019

"Nogami said any trade measures ought to be consistent with principles determined by the World Trade Organization and Japan hopes" both the us and China would work to constructively resolve their issues through dialogue".

On Friday, Washington once again escalated its trade war by adding levies to $200 billion worth of Chinese goods. Whether in negotiating the new U.S. -Mexico-Canada Agreement or threatening further tariffs on popular European imports including luxury cars, Donald Trump uses the same kind of "fire and fury" approach to negotiating with North American and European partners as he does with China. "Would be wise for them to act now, but love collecting BIG TARIFFS!" In Trump: The Art of the Deal, Trump complained of the Japanese that "what's unfortunate is that for decades now they have become wealthier in large measure by screwing the United States with a self-serving trade policy that our political leaders have never been able to fully understand or counteract".

In a statement Friday, U.S. Trade Representative Robert Lighthizer revealed the President had ordered him to begin the process of raising tariffs on essentially all remaining imports from China.

Wall Street on Friday capped a turbulent week with a late-day rally after shaking off an early slump triggered by the latest escalation in a trade war between the USA and China.

The United States and China appear to be further apart on a trade deal than ever before after Beijing named its price for ending the tariff war.

China's Global Times newspaper said Sunday in an editorial that China "will never make concessions on major issues of principle". "It's very simple!" the president tweeted.

According to Liu, Trump and Chinese President Xi Jinping agreed "on a number" when they met in Argentina last December to hammer out the truce that set off months of negotiations.

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"Negotiations have not broken down, but rather on the contrary, this is only a normal twist in the negotiations between the two countries, it is inevitable", Liu said. In fact, the tariff increases by Trump have taken many businesses in China and America by surprise, fuelling their anxieties about investment and supply chain viability.

The new 25% United States duty is being imposed on more than 5,700 categories of products, applied to products leaving China from May 10.

As the trade war spread, China imposed United States dollars 110 billion in duties on farm exports and other U.S. goods.

After tweeting that two days of trade talks in Washington had been "candid and constructive", Trump changed tack and followed through on a threat he had been making for months.

George T. Conway III, husband of White House Counselor to the President Kellyanne Conway, attends the 139th Easter Egg Roll on the South Lawn of the White House April 17, 2017 in Washington, D.C. George Conway mocked Trump's "easy" suggestion for avoiding tariffs he imposed on China. "China would greatly slow down, and we would automatically speed up!" The formation of the World Trade Organization and the forging of trade deals like the North American Free Trade Agreement reduced or eliminated tariffs.

Research by economists at Princeton and Columbia Universities and the Federal Reserve suggests all these impacts have been felt. Beijing responded vowing to take the "necessary countermeasures".

"China clearly requires that the trade procurement figures should be realistic; the text must be balanced and expressed in terms that are acceptable to the Chinese people and do not undermine the sovereignty and dignity of the country", the People's Daily newspaper said in a commentary on Saturday.

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