The addition products are to be hit with American import fee’s of 25%…..
China is sure to follow with fee’s leveled at American good coming into their country….
The trade war with China is ON….
Expect the American Stock Market to drop lower tomorrow and American export companies to begin calling their congressmen to complain about this….
Trump’s latest tariffs would take effect in June at the earliest and are meant to punish China for intellectual property theft. They would follow Trump’s move last month to impose stiff tariffs on steel and aluminum from China and some other nations, and an earlier action to levy penalties on Chinese solar panels.
China responded Monday to the steel tariffs with its own duties on $3 billion of U.S. pork, dried fruit and steel pipes. And anticipating the upcoming batch of new tariffs, China’s ambassador to Washington, Cui Tiankai, said that Beijing is prepared to meet them eye for eye.
“We will certainly take countermeasures, of the same proportion, and the same scale, same intensity,” Cui said in remarks broadcast on Chinese state television Tuesday.
But even as both sides ramp up the pressure, there are signs that talks between the two economic rivals are continuing and that some concessions from China may be enough to launch formal negotiations and forestall a trade war.
“I would say the pattern being established is that if trade partners make small concessions that the administration can trumpet, that seems to be sufficient,” said David Dollar, a senior fellow in the John L. Thornton China Center at the Brookings Institution.
But he added: “I’m certain China will retaliate in some way, as they always have….