Trump proposes $100 billion in additional tariffs on Chinese products

[OneHungLo]

Should be a fun day on Wall St. tomorrow

President Donald Trump on Thursday said he has instructed the United States Trade Representative to consider $100 billion in additional tariffs against China.

"In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a statement.

As of 8:25 p.m. ET, the implied open for the Dow Jones industrial average was more than 350 points lower. At one point, futures had implied a more than 450-point opening decline.

"POTUS is sending a message to China about consequences," a White House official told CNBC.

China on Wednesday announced it would introduce tariffs on 106 U.S. products, including soybeans, cars and whiskey.

The tariffs were introduced as a retaliatory measure against Trump, who, just 24 hours prior, had unveiled a list of Chinese imports he planned to target with tariffs. Some of Beijing's measures, experts said, were less about hurting the U.S. economy and more about hitting Trump politically by targeting elements of his base.

Trump's proposed tariffs include products used for robotics, information technology, communication technology and aerospace, areas in which Trump feels China could unfairly advance with the help of U.S. intellectual property.

Despite the severity of Trump's threats on Thursday, he emphasized that the U.S. is still open to negotiation concerning China's trade practices.

"The United States is still prepared to have discussions in further support of our commitment to achieving free, fair, and reciprocal trade and to protect the technology and intellectual property of American companies and American people," Trump said in a statement.

Shortly after Trump's announcement, U.S. Trade Representative Robert Lighthizer expressed support for the move, calling Trump's response "appropriate."

"President Trump is proposing an appropriate response to China's recent threat of new tariffs. After a detailed investigation, USTR found overwhelming evidence that China's unreasonable actions are harming the U.S. economy," Lighthizer said in a statement.

He also condemned China's retaliation and the harm it could cause American workers, farmers and businesses.

"The appropriate response from China should be to change its behavior, as China's government has pledged to do many times," he said in a statement.

"Unfortunately, China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in U.S. exports...Under these circumstances, the President is right to ask for additional appropriate action to obtain the elimination of the unfair acts, policies, and practices identified in USTR's report," he added.

Lighthizer emphasized that additional tariffs will not be implemented until they undergo a public comment process.

China, for its part, has taken a defiant tone to the White House's trade threats. In fact, Chinese state media has claimed victory in the trade dispute so far, saying Beijing's tariffs will hurt Trump voters.

"Trump has already proved himself wrong because China has demonstrated that it can't be coerced and is fully determined to reciprocate," an English-language editorial from China Daily said Thursday. "It's really time for Trump to give up the useless tariff weapon and come to the negotiation table."

https://www.cnbc.com/2018/04/05/trum...-products.html

[TampaToker]

Down -311 so far on dow futures

[NALEM]

I support the tariffs, and the need to have balanced trade with countries like China.

There are short term consequences, like increased costs to buy products made in China.
Simply put, the shit they send over is dirt cheap in price and quality. I am prepared to pay a higher retail price for some items, and for others, it will simply encourage me to simply not buy at all.

[Bladewire]

I'd be excited but his officials have told the Chinese that this is a move to start negotiations and all tarrifs are only proposed.

This is the problem with having an all talk no action blowhard in front, they can call his bluff and there's no bite to the paper tiger. Sucks

[pimpmaster9000]

I find it infinitely amusing that people think trump knows something that other politicians before him did not and that he has some sort of magic solution to how fat people can win races...

trumps trade war solution is the intellectual equivalent of fat people eating even more to be even more fat and then they will get better results at races

this reminds me of that south park episode where they raised the bar for obesity so that less people would qualify as obese

carry on 10/10 entertainment...

[Paul Markham]

Originally Posted by Bladewire

I'd be excited but his officials have told the Chinese that this is a move to start negotiations and all tarrifs are only proposed.

This is the problem with having an all talk no action blowhard in front, they can call his bluff and there's no bite to the paper tiger. Sucks

He's the first President to raise the question of why China is given a free reign. And you think that's bad. Why?

[pimpmaster9000]

Originally Posted by Paul Markham

He's the first President to raise the question of why China is given a free reign. And you think that's bad. Why?

"free reign"

patriotism ends at the wallet...westerners went to cheap countries in droves to move their production there and make more $$$...its called paul markham-ing...

[NatalieK]

what´s wrong with buying cheap from China? Everyone knows the quality is less but it saves money with some products...

Want to do some DIY painting, buy a brush from China. You´re a professional, buy German, US or UK

[BaldBastard]

Originally Posted by GspotProductions

what´s wrong with buying cheap from China? Everyone knows the quality is less but it saves money with some products...

Want to do some DIY painting, buy a brush from China. You´re a professional, buy German, US or UK

See this is the problem.. those German, UK and US brushes probably contain more Chinese parts than the .. Chinese made ones and if you want the very very best.. well buy Chinese.. just have your check book handy because they are big bucks just like the western ones because.. they're hand made.

But some dickhead, from some cheap sake western store, or some conman salesman.. like Trump.. went to China and says.. Can you produce a brush like this.. at 100th of the price, and the China man goes sure.. we can make that for you..

Its not that they make crap in China.. its what the client requests.. same fucking deal with Japan back in the 60's

Master Xu.. making a brush..
https://www.youtube.com/watch?v=5DzWM-708aw

[crockett]

"Proposed".. Meanwhile none of Trump's tariffs have taken effect yet but China has already started theirs...

It's like declaring war the other side starts shooting and Trump still hasn't ordered the troops to the front lines..

Complete incompetence

[GFED]

Originally Posted by GspotProductions

what´s wrong with buying cheap from China? Everyone knows the quality is less but it saves money with some products...

Want to do some DIY painting, buy a brush from China. You´re a professional, buy German, US or UK

I stay away from "Made in USA" because you pay 3x for the same thing. The piece of shit corporations that have products made in China aren't willing to pay for better quality. It's not because China isn't capable of building high quality products.

[BaldBastard]

Stocks today..
China -0.18%
Hong Kong +1.11%

^^ Looks like Trump has fucked China good huh??

Bueller, Bueller, Bueller?

Not even registering as a blimp...

[Paul Markham]

Originally Posted by GspotProductions

what´s wrong with buying cheap from China? Everyone knows the quality is less but it saves money with some products...

Want to do some DIY painting, buy a brush from China. You´re a professional, buy German, US or UK

Because it slowly erodes jobs in the First World. Are you prepared to pay all those who can't find a job a decent income through Welfare and your taxes?

53 years ago when we made most things at home or imported them from First World countries, school leavers all had jobs to go to.

https://www.bls.gov/opub/ted/2009/te....htm?view_full

https://www.statista.com/statistics/...-eu-countries/

Eventually, this will carry on to older people.

[Busty2]

Originally Posted by Paul Markham

He's the first President to raise the question of why China is given a free rein. And you think that's bad. Why?

Fixed that for you ?

[JFK]

Originally Posted by GspotProductions

what´s wrong with buying cheap from China? Everyone knows the quality is less but it saves money with some products...

Want to do some DIY painting, buy a brush from China. You´re a professional, buy German, US or UK

I buy all my brushes at the dollar store, no need to wash them , just dispose after you're done !

[BaldBastard]

Dow tanks, job numbers down and interest rates raising.


MAGNA!

[MaDalton]

i wonder if those tariffs apply to all Trump products that are produced in China as well - or if they are magically exempt

[Smack dat]

Originally Posted by JFK

I buy all my brushes at the dollar store, no need to wash them , just dispose after you're done !

How long do you spend picking hairs out the paint?

[BaldBastard]

https://www.foxbusiness.com/politics...-manufacturers

Price of Steel has nearly doubled in USA since Tariffs announced

Winning!

[GAMEFINEST]

Did the beer prices go up?

[DraX]

Trump needs to balance trade, makes sense. Of course anyone who doesn't support Trump are also against this proposal.