China vows fightback against Trump’s proposed US$200b tariff threat

China vows fightback against Trump’s proposed US$200b tariff threat

China's yuan meanwhile dropped 0.45 per cent against the dollar to move back towards an 11-month low plumbed last week.

The new list products would be assessed at 10 per cent if Beijing insists on the retaliatory tariffs announced in June.

And added, "China's export sector will, therefore, suffer a significant deterioration in export competitiveness to the U.S. compared to other emerging markets' manufacturing exporters, such as Vietnam, South Korea, Thailand, Bangladesh, Mexico, and Brazil,". But with only $130 billion in goods coming in from America, the Chinese wouldn't even be able to match the $200 billion figure, much less anything above that. They warned it will be hard to contain spillover effects if the dispute worsens from here, risking "a much bigger disruption to global production and trade activity, affecting investment incentives and dragging on global economic growth". "China has no option but to fight fire with fire".

With more potential tariffs on the way, many Americans are wondering what impact they could feel. Now China is its sixth largest export market, according to Grondine.

NAM urged the Trump administration to negotiate a trade treaty with China.

South Korea is a major producer of technological products - such as components used in electrical devices, computers and mobile phones.

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"I am curious to see what China does to retaliate in the coming days". As for exports, it's primarily soybeans, poultry and other agricultural products.

China's compliance with WTO guidelines lies at the heart of the conflict, notably over Beijing's alleged state support for purportedly private companies. Remember, this is a heavily state-run, communist-capitalist hybrid economy, and the government imposes all sorts of limits and regulations on the American companies - think Walmart and General Motors - that operate there. And I think the Chinese are doing that as a strategy to engage Trump, to show Trump that China is honest about having a fair trade relationship with the United States, and they are improving their behavior.

SUN: Well, they do hurt Chinese companies.

But we don't actually need China (or anyone else) to buy our debt.

Instead, its heavily regulated economy gave Beijing tools to disrupt operations for American vehicle makers, restaurant chains and other companies that are looking to China to drive revenue growth. "It's up to them to open the door again". Doing so could cause inflation, but only if the US economy was already badly overheating - in which case, higher interest rates would probably be a good thing. "As an industry that touches 96 percent of all manufactured goods and which has much to gain from a productive, respectful trading relationship with China, ACC and our members remain hopeful that the US and China can resolve their differences and prevent further harm to USA manufacturers, farmers, and consumers". In a statement, it called the USA actions "completely unacceptable". It would actually give Trump what he wants!

"A tariff is a tax and in today's global economy.American manufacturers are simply tied to suppliers from outside the USA for their competitiveness.So when we tax those imports, we're taxing American manufacturers, not to mention consumers, and that heavily handicaps our own manufacturers".

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