Saturday, March 24, 2018

US Tariffs - China Strikes Back

Last Update: March 25, 2018

It didn't take long for the Chinese government to respond to protective tariffs US president Trump imposed on China. The Economic Survey Network 经济观察网 and which is related to the Beijing University of Technology 北京理工大学 wrote:


China Starts Striking Back !
Outburst of a Sino-US War of Trade.
The Winter of Globalization already in Progress ?

几个小时后,中国开始了反击。上午7点,中国商务部发布了针对 美国进口钢铁和铝产品232措施的中止减让产品清单并征求公众意见, 拟对自美进口部分产品加征关税,以平衡因美国对进口钢铁和铝产品 加征关税给中方利益造成的损失。该清单暂定包含7类、128个税项产品, 按2017年统计,涉及美对华约30亿美元出口。

Some hours later, China started striking back. At 7 o'clock in the morning China's trade ministry announced to target US import of steel and aluminium products by using 232 steps to suspend and reduce [the availability of] products [specially] requested by public opinion and contained on a detailed list that was drafted because of raised tariffs on part of products imported by the US. Balanced Chinese benefits would [otherwise] suffer from losses due to the raised US tariffs on steel and aluminium products. The [Chinese] list would temporarily contain 7 sorts of and 128 [single] taxed products. According to 2017 statistics, US exports to China make up for about 300 million US$.

[Economic Survey Network 经济观察网, Beijing, on March 23, 2018]

The above list is comprising 120 US products for which protective tariffs of 15% have been
fixed by China's ministry of trade. These products comprise fresh and dried fruit products
as well as wine among other goods. The overall value of such goods imported by China
makes up for some 9.77 million US$.

Another group of US products, including pork meat and recovered aluminium products, are
subject to a different tariff of 25%. The total volume of trade for these products makes up
for some 19.92 million US$.

[Chinanews Network 中国新闻网 on March 23, 2018]


A war of trade doesn't really hit !
China's economy "tsars" and America's [wealthy tycoons] agree to talks and a to [untie the knots].

This brandnew video from a Hong Kong source is partly using cartoons to explain the disadvantages of a war of trade. It was published on March 24, 2018.


Visitor to "blueprint news" coming from Hanoi, Vietnam.

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