MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

U.S. Announces Tariffs on $50 Billion of China Imports

Old_JoeOld_Joe
edited April 2018 in Off-Topic
An article currently breaking in the WSJ says that the Trump administration has detailed $50 billion of goods that it plans to hit with 25% tariffs unless Beijing makes major trade and investment concessions soon.

"The imports targeted for levies reached across the U.S. economy, from high-tech industries like medicine, aviation and semiconductor machinery to intermediate goods like machinery and chemicals, according to the U.S. Trade Representative. Consumer standards such as dishwashers, snow plows and motorcycles were also targeted.

None of the tariffs go into effect immediately. Instead, U.S. companies have until May 22 to raise objections to the proposed tariffs, with a public hearing on the issue is scheduled for May 15."

I imagine that this development may influence the market to some degree, and not for the better.

Note: the WSJ link is subscription only, as most of us know only too well.

Additional from The Washington Post:

"The office of the U.S. trade representative released a list of 1,300 proposed tariff increases... In compiling the list, U.S. officials used algorithms to identify products that benefited from China’s state-directed campaign of technology acquisition while eliminating those whose inclusion would disrupt the U.S. economy.

The list was drafted to achieve “the lowest consumer impact,” according to Robert E. Lighthizer, the U.S. trade representative.

Parts for trash compactors, molds for the manufacture of semiconductors, motors, generators, cassette players, smart cards and high-definition color video projectors dotted the list along with unlikely items like rocket launchers and torpedoes.

If China responds to this latest tariff action on a dollar-for-dollar basis, it could damage more than one-third of total U.S. exports to China and Hong Kong. The U.S. shipped more than $130 billion in goods to China last year, plus an additional $40 billion to Hong Kong, much of which flows through the port city to the mainland."

Note: The Washington Post info has been lightly edited for brevity.

Comments

  • catch22catch22
    Hi @ Old_Joe.
    I'm still waiting for the Chinese "Trump" card.............all those U.S. Treasury holdings.
    Now there's something that could get one "fired".
  • AnnaAnna
    Well, maybe not. Maybe this game is to make a "proposal" then "listen" to the real Americans, call new tariffs off, and declare Trump stopped the Obama trade tariffs on the "red" states before they destroyed the American worker.
  • VintageFreakVintageFreak
    Maybe it is all Kim Jong Un's fault? Apparently "threats" work. And which is why for the first time in many years, North Korea wants to engage with the outside world.

    Now this seems to be Trump's official tactic. Let's bully people. It might work, who knows? We never know if a fund we purchased is going to work out.

    Oh wait...if a fund does not work, who cares? Me.
    If this doesn't work out, who cares? Not Trump.
Sign In or Register to comment.