Donald Trump pulls the trigger on tariffs on $200bn in Chinese goods

Donald Trump pulls the trigger on tariffs on $200bn in Chinese goods

Most of the shoes and at least half of the mattresses and furniture sold in the US are made in China.

But given the high stakes for both sides, with Trump pushing for concessions from China but Beijing unlikely to give ground on key policy requests, the trade conflict could continue to escalate into what scholars have already begun to term a new cold war. The White House is pushing tariffs as a powerful negotiating tool for winning what it says are better trade deals for all Americans.

While certain doubts have been raised about the current global trading system, China has always supported the protection of free trade and believes that multilateralism with the WTO at its core should be strengthened, Wang added.

Beijing "has indeed received an invitation from the United States and holds a welcoming attitude to it", said Gao, noting the "two sides are still communicating on the specific details".

The basic tenets of the WTO, in opposing protectionism and supporting free trade should not change, but the rights of developing nations should also not be overlooked, he said.

Two-thirds of American companies that responded to a survey said they have suffered lost sales or lower profits due to that increase, two chambers of commerce reported Thursday.

China has threatened retaliation, which could include action against US companies operating there. According to Dow Jones wires, Treasury Secretary Steve Mnuchin sent an invitation to Chinese officials, proposing a meeting in the next few weeks to discuss trade issues.

So far, the United States and China have hit $50 billion worth of each other's goods with tariffs in a dispute over USA demands that China make sweeping economic policy changes, including ending joint venture and technology transfer policies, rolling back industrial subsidy programs, and better protecting American intellectual property.

X-Men Actress Fan Bingbing is Missing
The biggest mystery in China at the moment is what has become of the country's most famous actress, Fan Bingbing . The explanation given was that the office is now going through a cleaning and that the workers will soon return.

The official China Daily said that while China was "serious" about resolving the stand-off through talks, it would not be rolled over, despite concerns over a slowing economy and a falling stock market at home.

Stocks in Europe rose earlier as prospects for U.S. "It has enough fuel to drive its economy even if a trade war is prolonged".

So far, the United States and China have hit US$50 billion worth of each other's goods with tariffs in a dispute over U.S. demands that China make sweeping economic policy changes, including ending joint venture and technology transfer policies, rolling back industrial subsidy programs and better protecting American intellectual property.

"Our markets are surging, theirs are collapsing", he wrote.

The new duties would add to tariffs the U.S. has already imposed on $50bn in Chinese goods as part of that dispute, as well as tariffs that China levied on $50bn in United States goods in retaliation.

Mnuchin's offer comes just under a week after US President Donald Trump threatened to impose tariffs on all $500 billion worth of imports from China.

The push for additional tariffs is despite the U.S. Treasury secretary's attempt to restart talks with Beijing to resolve the trade war, according to four people familiar with the matter. Mid-level US and Chinese officials held inconclusive talks on Aug 22 and 23.

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