MA businesses fearing impact of U.S.-China trade war

MA businesses fearing impact of U.S.-China trade war

The United States hiked tariffs on Chinese imports Friday and Beijing announced it was retaliating against American goods in a technology dispute between the world's two biggest economies that President Donald Trump says he is prepared to escalate.

Trump also said the USA is ready to target an additional $200bn in Chinese imports - and then $300bn more - if Beijing does not yield to U.S. demands and continues to retaliate.

"If this ends at $34 billion, it will have a marginal effect on both economies, but if it escalates to $500 billion like Trump said, then it's going to have a big impact for both countries", said Feixiang. Those threats were followed by promises from both nations to tax even more imports.

I view these tariffs as a negotiating ploy by President Trump to try to force the Chinese to open up their market better for American companies.

President Donald Trump said more than $500 billion in Chinese products could ultimately be penalized.

The Trump administration sought to limit the impact of the tariffs on USA households by targeting Chinese industrial goods, not consumer products, for the first round of tariffs.

The president's tariffs, the PIIE's researchers conclude, are "a prime example of 20th century tools aimed at the knowledge-embodying trade flows of the 21st century".

Retaliatory tariffs from China could lead to a 59 percent decrease in OH farmers' net income within six years, a group representing Ohio's soybean industry said.

A solid pickup in hiring by USA employers last month also helped keep investors in a buying mood.

The report, which shows that unemployment has dropped, also included some numbers that might not be worth the all-caps tweet, including slowed hiring in small businesses and a lack of qualified applicants in some fields, owing, possibly, to wage stagnation. For example, the U.S. government wants China to rein in government subsidies for policies like "Made in China 2025", which seeks to pump hundreds of billions of dollars into industries such as robotics, electric cars and computer chips with the aim of becoming a global leader.

China retaliated with tariffs on a similar amount of goods.

Chrissy Teigen slams Donald Trump for mocking #MeToo movement
To demands that he apologise for his taunts, Trump replied by sarcastically apologising to the historical figure. She later added:: "And why would you have to toss it? where is he going with this? his brain is eating itself".

A strong economy and rising interest rates in the United States make holding onto metals less appealing, since they don't pay interest, dividends or rent, unlike other assets such as bonds, stocks or real estate.

"Trade war concerns have shot up to the top of our concerns for investors", said Isabelle Mateos y Lago, chief multi-asset strategist at BlackRock Investment Institute in London. President Donald Trump on Friday announced that the US could impose additional tariffs on more than $500 billion in Chinese imports, or roughly the total amount of Chinese imports annually into the USA, according to an article from Reuters. In other words, the USA and China are likely to impose penal tariffs on their entire imports from each other.

This prompted Beijing to respond in kind with levy tariffs on 545 items of US imports, including agricultural products, vehicles and aquatic goods - also worth $34 billion, state-run newspaper The China Daily reported Friday.

Liquor maker Brown-Forman Corp, whose products include Jack Daniels, is off 15 percent since late May.

China's government also announced it was adding this round of United States tariffs to an existing complaint filed with the WTO in April shortly after Washington unveiled the threat to punish Beijing for its policies on intellectual property.

China's tariffs on USA goods came into effect immediately afterward, a spokesman for the Chinese Foreign Ministry said Friday.

"US external trade actions are backfiring, risking a reduction in global trade", Peterson said.

In 1900, tariffs accounted for about 30% of the total value of U.S. imports, as the country was trying to restrict imports and develop its young industrial sector.

The US trade deficit in goods with China stood at a record $375 billion in 2017. Meanwhile, some of the officials who previously worked for the Obama administration - known as "holdovers" - are hoping to tamp down the US-China conflict.

The White House, however, has cast its volley of tariffs as a long overdue move to rectify a longstanding imbalance in trade between the countries - particularly, as Trump has said, in China's "unfair practices related to the acquisition of American intellectual property and technology".

Mark O'Neill, a spokesman for the Pennsylvania Farm Bureau, told The Morning Call that tariffs on agricultural products could have a real impact on the bottom line of farmers nationally and in Pennsylvania.

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