Donald Trump's 2020 Campaign Gear: Made In China?

US 'firing at itself' with trade measures: China

The administration started imposing tariffs at 12:01 a.m.

Chinese President Xi Jinping (left) and US President Donald Trump in Florida past year. The first phase of that will affect $34 billion worth of goods. "If we can seize our own market, we will be less affected by the trade war", said a spokesperson for Topsun, a furniture manufacturer in Zhejiang province.

As the tariffs approached, the U.S. central bank warned the impending trade battle was beginning to darken the otherwise blue skies of the robust American economy, now in its 10th year of recovery.

The row has caused turbulence on the world's stock markets and could hurt global trade and growth.

Today's tariffs could just be the opening skirmishes in the trade war, as US President Donald Trump has vowed to hit as much as US$450 billion in Chinese goods, the vast majority of imports.

Businesses will have to pay 25 percent additional tax on $US34b of certain Chinese products they import - including aircraft tyres and commercial dishwashers. USA soybean farmers have been particularly concerned, and the price of soybeans has plunged 17 per cent over the past month on tariff fears. "Simply put, the United States is opening fire on the whole world, and also firing at itself", Gao said. In fact, he wrote, China could see a lasting gain if those in the country who don't recognize the US's desire to contain the world's second-largest economy get a wake-up call.

External observers have widely criticized this approach, saying such protectionist rhetoric undermines free trade policies that have shaped the global exchange of goods in recent decades.

It said the USA had violated World Trade Organization rules by imposing the tariffs, and indicated China would raise the issue with the regulatory body in time.

The White House said it would consult on tariffs on the other $US16b of products, and would apply these later.

The Trump administration, citing national security concerns, recently slapped all three nations with steel and aluminum tariffs, prompting each to retaliate.

"China, which is in the crosshairs of the Trump administration's racketeering gun sights, has no choice but to fight back".

Seehofer’s last-ditch attempt to agree on migration issue
As the CDU and CSU parties hunkered down in Berlin and Munich, leaders on both sides sought to clarify what was at stake. But right-wing governments in Hungary and Poland have since said they have not reached any new deals on asylum.

Mr. Trump does have leverage, in the sense that all of these countries depend far more on exports than the United States does.

The first round targets Chinese industrial goods, not consumer products, in an attempt to limit the impact on US households, but companies that rely on Chinese-made machinery or components may eventually have to pass along increased costs to customers.

BMW said it could not absorb all of the 25% tariff on the cars it exports to China from a plant in Spartanburg, South Carolina and would have to raise prices.

What could the fallout be?

Ironically, Cohen says the victims of Chinese IP or intellectual property theft won't benefit from the tariffs.

And despite dire warnings about the impact on the US, Trump believes the robust American economy can outlast its rivals in the current battle.

Forecasters say a full-blown conflict could knock up to 0.5 per cent off global economic growth through 2020 if Washington and Beijing impose tariff hikes on $250 billion of each other's goods.

"The tariffs are aimed at patent-intensive industries that rely on global supply chains, disadvantaging American producers and harming United States allies operating in the region", the PIIE analysis concludes. "Consumers can expect to feel the pain in the coming months". "And the impact on US business, in my estimation, will be substantial".

The US trade deficit in goods with China now stands at about $375bn.

"China can impose leverage in areas outside the economic sphere".

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