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Trump’s trade war with China has MASSIVE geopolitical consequences (Video)

Trump’s trade war with China has MASSIVE geopolitical consequences (Video)

The Trump White House formally announced the list of Chinese products to be hit with tariffs.

The US will implement 25% tariff on $50 Billion in Chinese imports, representing 1,102 product lines with the list of imported goods among those listed on China’s 2025 plan.

The US tariffs against China will be implemented in two tiers.

The first tier on July 6th will cover $34 Billion in imports. A second tier will cover the remaining $16 Billion, or 284 product lines.

POTUS Trump said in a statement that the “The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices.”

“These tariffs are essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs.”

“In addition, they will serve as an initial step toward bringing balance to the trade relationship between the United States and China.”

China immediately retaliated with $50 Billion in tariffs against US goods including soybeans, light aircraft, orange juice, whiskey and beef, starting July 6th.

The Chinese government clarified that tariffs on US soybeans will begin July 6, while tariffs on US crude oil, natural gas, coal and some refined oil products will begin at a later date.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris, take a deeper look at the impending trade war, and what this means for the global economy.

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Zerohedge (https://www.zerohedge.com/news/2018-06-15/china-strikes-back-retaliates-50-billion-tariffs-us-goods) reports that the response from China signaled a rapid escalation of the dispute. China will impose tariffs with “equal scale, equal intensity” on imports from the U.S. and all of the country’s earlier trade commitments are now off the table, the Commerce Ministry said in a statement on its website late Friday.

See Also

China’s Ministry of Finance is setting a two-tier system with $34 Billion on July 6th and $16 Billion more in tariffs to follow…

On June 15, 2018, the U.S. government issued a list of goods subject to tariffs, which will impose a tariff of 25% on about 50 billion U.S. dollars of goods imported from China, of which about US$34 billion will be goods from July 6, 2018. It began to impose tariffs and began to solicit public opinions on about 16 billion U.S. dollars in tariffs. The U.S. measures violated the relevant rules of the World Trade Organization and it is contrary to the consensus reached in the Sino-U.S. negotiations. It seriously violates our legitimate rights and interests and threatens the interests of our country and people.

According to the “People’s Republic of China Foreign Trade Law,” “The People’s Republic of China Import and Export Tariff Regulations,” and other laws and regulations and the basic principles of international law, the State Council Tariff Commission decided to impose an additional 25% on 659 items of US$50 billion imported goods originating in the United States. Tariffs, including 545 items of approximately US$34 billion in goods, have been subject to additional tariffs since July 6, 2018, and the implementation time of additional tariffs on other commodities has been announced separately.

List 1 here (Chinese only for now).

List 2 here (Chinese only for now).

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Saint Jimmy (Russian American)columRastislav Veľká MoravaJackHappyCynic Recent comment authors
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colum
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colum

Off topic. Russia 3-Egypt 1

Saint Jimmy (Russian American)
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Saint Jimmy (Russian American)

Amazing. Russia looks like the surprise of the Cup but Egypt didn’t have much outside of Salah.

Rastislav Veľká Morava
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Rastislav Veľká Morava

It appears that Trump wants economic isolation from globalism and maybe down the road, even an exit from the US’s current internationalism and interventionism.

His end goal might very well be economic and manufacturing self sufficiency for the USA. This can happen after a number of years of acute pain, and maybe even a downgrade to 2nd world status.

Rastislav Veľká Morava
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Rastislav Veľká Morava

In regards to Trump and the USA: Down the road, all it would take would be for Trump to institute that to sell in the USA you have to produce in the USA, perhaps starting with mandatory assembly in the USA. Factories can be transplanted. In the future it will not make much sense to have robots manufacturing for the US and Western Companies in China, when you can have those same robots manufacturing locally. China should not count too much on the future of flooding the rest of the world with manufactured goods to boost their economy. Other countries,… Read more »

Jack
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Jack

Thanks to God that he sent on American people such man who is doing right things one by one rescuing ower white civilisation and trumping down his predisessores legacy,

HappyCynic
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HappyCynic

There’s a video of Trump on the Oprah show from 30 years ago where he talks about unfair trade (although he was referring to Japan at the time). Trump has made it clear that when there’s a huge imbalance in trade (i.e. a trade deficit), the winner in a trade war (increasing tariffs on both sides) is the side with the biggest trade deficit. Try the following Gedankenexperiment (Einstein was fond of these types of examples): Assume each side increases tariffs to 100% on all goods – what is the result? Both sides lose in the long run, but the… Read more »

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