Monday, 27 May, 2019

China Retaliates with Major Tariff Hike

Consumers are already seeing price hikes from the last round of Trump’s tariffs Consumer prices on luggage and major appliances have already increased as a result of previous tariffs
Russell Knight | 16 May, 2019, 10:42

Among the retaliatory measures is an increase in the tariff on US liquefied natural gas (LNG) from 10% to 25%.

Stocks, which took a beating on Monday after Trump late on Friday threatened a new round of tariffs on about $300 billion worth of remaining imports from China, gained strength after Trump's comments, with the tech-driven Nasdaq up 1.47% in midday trade.

MLive is reporting that MI farmers believe that "nobody wins" in this trade war. "Hopefully, these tactics will lead us to that day".

An American farmer says the U.S.

Trump touted growth in energy exports yesterday during a visit to an LNG export facility, in which he was accompanied by members of Louisiana's congressional delegation.

By most measures China remains enviably vibrant: Over the first three months of 2019, its economy grew 6.4% from a year ago - more than twice as fast as the USA grew. "But the hopes for that are a bit misplaced now", he said.

Max Baucus, a former United States ambassador to China told CNN: "China feels it does not have to give in". Nor are Mr. Trump's tariffs the main cause of China's troubles.

The weak data are also likely to rekindle the debate over whether the Chinese government needs to enact more fiscal and monetary stimulus to prop up the economy.

Securing long-term contracts in Asian markets has been a longtime goal of supporters of a proposed gas pipeline that would connect the North Slope to planned LNG export facilities across the state.

He went on to say: "We can make a deal with China tomorrow, before their companies start leaving so as not to lose U.S. business" and said it would be "game over" if the Federal Reserve "matched" Chinese support measures.

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Chinese tariffs announced Monday don't take effect until June 1, over two weeks from now.

"There is not a chance a Chinese leader could agree to put something like that in writing", said Shen Dingli, a political scientist at Fudan University in Shanghai. We had a deal that was very close but then they broke it. "But they are themselves unsafe and a painful tool that hits both the country against which the tariffs are being imposed and the country that is doing the imposition", Toomey said. However, the New York Times reported on Wednesday that tariffs may be here to stay. "On the energy side, particularly in oil, as long as oil stays in the 60s, that's probably more encouraging than tariffs are discouraging". You want to know something?

"They'll be planting", he said.

It also accuses China of stealing intellectual property from USA firms.

"I am not a tariff man". "We can and we must", Li said. Richard Shelby (R-Ala.) yesterday. In the United States, the dispute jeopardizes a stock market rally that President Donald Trump touts as a vote of confidence in his economic stewardship.

The Pennsylvania Republican added that "the jury is still out" on whether an acceptable trade deal with China will materialize, and said that he has spoken directly to the president about his objections to no avail.

During 2018, a recent study of Trump's tariffs by economists at Princeton, Columbia, and the Federal Reserve Bank of NY noted, "the US experienced substantial increases in the prices of intermediates and final goods, dramatic changes to its supply-chain network, reductions in availability of imported varieties, and complete passthrough of the tariffs into domestic prices of imported goods".

President Donald Trump has repeatedly touted the strong first-quarter growth figures as proof his economic policies and tough trade tactics are producing results. "You don't want to fight a 10-front war".

"US consumers, farmers, businesses and so on have become the victims of the trade frictions provoked by the United States. It's going to make a little harder for us to raise money for future funding rounds", Lix addressed. To the extent that the U.S. wants China to buy more United States goods and narrow its trade surplus, to curb intel-lectual property abuses and to open up its service sector, an eventual agreement looks possible. My concern is there's no real strategy here. We've gone up trillions and trillions of dollars since the election; they've gone way down since my election'.

Reporters George Cahlink and Nick Sobczyk contributed.

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