More US-China Trade War

Reviews
China and the United States are on obviously shaky ground right now. President Trump and the Chinese government have gone back and forth with each other with tariffs and other political things to try to get under each other's skin. Or at least that's what I understand from this article. It is as if Trump runs the country like a headless chicken and nobody can stop him as far as the media is concerned. He is always the cause of every problem as far as they can see. Beyond that, it is pretty fair both ways. Arguments on both sides get some time but I still consider this an anti-Trump article
Common Facts
Content (8)
CNN
Vox
Blo.
The Gua.
"The Trump administration will begin collecting 15% tariffs on more than $125BN in Chinese imports, including smart speakers, Bluetooth headphones, and many types of footwear."
"In retaliation, China started to impose additional tariffs on some of the US goods on a $75BN target list. Beijing did not specify the value of the goods that face higher tariffs from Sunday."
"The extra tariffs of 5% and 10% were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest on 15 December."
"The angry set of tweets from Trump came after China announced its retaliation for new U.S. tariffs due to take effect Sept. 1st."
The Dow dropped 600 points.
"Last month, Donald Trump said he was imposing tariffs on $300BN worth of Chinese imports previously spared in the trade dispute."
"The president has also announced that the existing 25% tariffs on a separate group of $250 billion of Chinese imports will increase to 30% on 1 October."
"Once all the measures have taken effect by December, nearly all of China’s $540BN worth of exports to the US will be subject to the levies.""
Review Info (3)
First Published: 08/28/2019 09:09:21 pm
Last Updated: 11/30/-0001 12:00:00 am
Original Front Page Link
CNN
Content (11)
"The US-China trade war ratcheted up yet again on Friday, 8/24/19."
"China's Finance Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts."
" The tariffs would be 25% for vehicles or 5% on parts and would take effect on December 15th."
"The new tariffs will target 5,078 products, including soybeans, coffee, whiskey, seafood, and crude oil."
"The United States postponed the implementation of about half of those tariffs, which will cover several categories of Chinese-made consumer goods, until December."
"US President Donald Trump responded swiftly, saying Friday afternoon he was increasing rates on existing tariffs on Chinese goods."
The American Farm Bureau Federation said the tariff announcement "signals more trouble for American agriculture."
"The US Trade Representative's office did not immediately comment on China's tariffs announcement."
"Industrial production in China — an important indicator for the country's economy — grew just 4.8% in July compared to a year earlier, according to China's National Bureau of Statistics."
"American factories are also contracting for the first time in a decade and red lights are flashing in the bond market, where the yield curve has inverted. "
The US Chamber of Commerce, which represents the interests of more than three million businesses, called on China and the United States to "get back to the table" to discuss issues important to both sides, including intellectual property and market access.
Opinion (12)
"The $250 billion of goods and products from China currently being taxed at 25% will be taxed at 30%, Trump said on Twitter."
Trump earlier in the day said US companies should move operations from China in response to their tariffs which seem to be made out of spite.
"We don't need China and, frankly, would be far better off without them," Trump wrote on Twitter.
"Trump also "ordered" American companies 'to immediately start looking for an alternative to China.'"
The National Retail Federation issued a statement calling the demand "unrealistic."
"For years, retailers have been diversifying their supply chains, but finding alternative sources is a costly and lengthy process that can take years. It is unrealistic for American retailers to move out of the world's second-largest economy," the group said.
"We know continued retaliation only adds to the difficulties farm and ranch families are facing and takes the situation in the exact wrong direction," the statement said.
"US markets, which had struggled for direction earlier in the day, dropped on Trump's comments."
" That's the worst growth for that sector in 17 years."
"Such inversions, where the 10-year Treasury yield dips below the two-year Treasury rate, are historic predictors of a coming recession."
"Consumer spending, which has remained a bright spot of the American economy, could be hurt by higher prices from the pending tariffs on goods like phones, video games, and athletic shoes."
"Today's Chinese retaliation is unfortunate, but not unexpected. The fact of the matter is that nobody wins a trade war, and the continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets," the statement said.
Article Info (4)
Date Published: 11/30/-0001 12:00:00 am
Date Accessed: 11/30/-0001 12:00:00 am
Article Author: Yong Xiong and Victoria Cavaliere
Click here to see the article
Vox
Content (4)
"These latest US levies raise existing penalties on $250 billion in goods being imported from China to a 30 percent tax."
"Friday’s announcement builds off several earlier rounds of tariffs that Trump had previously laid out. "
"Last fall, the US levied a 10 percent tariff on $200 billion in Chinese imports, with a focus on products that are predominately sold to businesses."
"Before China announced its retaliatory tariffs Friday, Trump had said he would delay some of the tariffs slated for September 1st. This was due to concerns that they would slow spending during the holiday season."
Opinion (13)
"These tariffs are themselves a Chinese response to earlier US penalties."
"Trump waited to announce this development until after the stock market had closed."
Trump said. "For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight…."
Trump continued saying "…Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer. As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very…."
Trump said "…unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%…"
Trump also said, "…Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!"
"Trump’s move ups the ante on an increasingly tense trade war that’s causing growing fallout in the stock market."
"Trump may be reacting to China’s latest moves now, but the country’s recent tariffs were actually in response to actions he had previously taken."
As Vox’s Jen Kirby said, "China, of course, is pushing back against Trump’s own levies. The president in August announced 10 percent tariffs on $300 billion in Chinese products starting September 1st, which, when combined with previous tariffs, effectively taxes nearly all Chinese goods."
"Those tariffs applied to popular consumer goods including cellphones and clothing and are now scheduled for December 15th, a timeline his Friday tweets did not comment on."
"Trump’s use of tariffs is part of a larger protectionist strategy he’s employed in what he says is an effort to bring jobs back to the US, curb the US trade deficit, and hold China accountable for alleged intellectual property abuses."
"Vox’s Jen Kirby noted, 'China’s latest move is a reminder that Washington and Beijing are no closer to ending this economic brinksmanship or signing any sort of deal. China and the US are supposed to resume trade talks in September, but no date has been set yet.'"
"Given the uncertainty plaguing not only the US economy but other economies around the world — including Germany and China — Trump’s ongoing spat over tariffs does little to ease worries about a potential recession, even if investors won’t fully react to the news until Monday."
Article Info (4)
Date Published: 11/30/-0001 12:00:00 am
Date Accessed: 11/30/-0001 12:00:00 am
Article Author: Li Zhou
Click here to see the article
Bloomberg
Content (7)
"Trump fired off a new demand that U.S. companies seek alternatives to producing goods in China."
"A meeting on trade took place around midday in the Oval Office, according to people familiar with the discussions. 8/23/19"
"Trump added in a flurry of tweets that he “hereby ordered” American companies to start looking for alternatives to making products in China. It wasn’t immediately clear what legal authority the president would have to force such corporate decisions."
"U.S. stocks fell after Trump’s remarks, with the S&P 500 Index dropping 2.6% on the day. Technology stocks were hardest-hit although treasuries rallied."
"The administration has notified Congress it intends to go ahead with the sale."
"China’s newest tariffs came earlier Friday in retaliation for Trump’s latest planned levies on Chinese imports, which have pushed U.S. stocks and commodities lower."
"The move takes aim at the heart of Trump’s political support — factories and farms across the Midwest and South at a time when the U.S. economy is showing signs of slowing."
Opinion (13)
"President Donald Trump signaled he may escalate the trade war with China in the coming hours after the country’s latest round of tariffs."
Trump tweeted Friday 8/23/19 “I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States,”
The president laced into China, saying “We don’t need China” and that the U.S. would be “better off without them.”
"Trump also took aim at the Federal Reserve over what he’s called its failure to lower interest rates to boost the economy and keep the dollar from becoming too strong, which weighs on exports."
Trump Tweeted "….better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing.."
"Federal Reserve Chairman Jerome Powell repeated his concern that U.S. trade policy was contributing to a slowdown in both U.S. and
"They also reflected Trump’s growing frustration with the lack of progress in his trade battles with China, according to analysts close to the White House"

"They also reflected Trump’s growing frustration with the lack of progress in his trade battles with China, according to analysts close to the White House"
"'The president has been increasingly frustrated in the last three months’' with China after the May breakdown of talks that he believed were about to yield a deal, said Michael Pillsbury, a China expert with the Hudson Institute in Washington with whom Trump has consulted in the past."
"Trump’s most likely response, Pillsbury said, would be to raise tariffs from 10% to 25% on remaining imports from China that are due to start taking effect Sept 1st."
"But he had other ways to increase pressure, Pillsbury added, including giving the final green light to sales of F-16s to Taiwan that have been signed off on by the State Department."
"Derek Scissors, a China expert at the American Enterprise Institute who has also advised the administration, agreed that an increase in tariffs was the most likely course of action, though it could be staged to give China more time to respond."
"Trump’s order to U.S. companies to abandon China would mean very little in the short-term, Scissors said. But the president does have other ways he could increase pressure on U.S. companies to stop doing business with China, particularly if he chose to invoke a national security emergency and ban tech companies from selling certain products to Chinese buyers."
“It’s worth the market being a little nervous that U.S. tech companies are involved with China and that they are providing China with dual-use technologies,’’ Scissors said. “That’s what the hawks are angry about. So the president can take action against those companies not by ‘I hereby order,’ but by starting a process where the direct pressure on them goes up.’’
Article Info (4)
Date Published: 11/30/-0001 12:00:00 am
Date Accessed: 11/30/-0001 12:00:00 am
Article Author: By Joshua Gallu and Shawn Donnan
Click here to see the article
The Guardian
Content (7)
"A new round of tariffs took effect from 0401 GMT on Sunday (9/1/19), with Beijing’s levy of 5% on US crude oil marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago."
"The new round of tariffs promises more volatility when stock markets resume trading on Monday, although Wall Street is closed for the Labor Day holiday."
"The trade tariffs on China have contributed to a slowing of the Chinese economy, as well as other countries’ economies in the region."
"A snapshot of the country’s giant manufacturing sector released on Saturday showed that activity contracted for the fourth month in succession in August."
"The Chinese yuan has also come under pressure and fell to an 11-year low against the US dollar last week. South Korea said on Sunday that its exports had fallen for the ninth month in a row."
"The US trade representative’s office said on Thursday it would collect public comments until 20 September on a planned tariff increase to 30% on a $250BN list of goods already hit with a 25% tariff."
"Trade teams from China and the United States continue to talk and will meet this month, but tariff hikes on Chinese goods set to go in place on Sunday will not be delayed, Trump has said."
Opinion (8)
"China and the United States have begun imposing additional tariffs on each other’s goods in the latest escalation of their bruising trade war that has sent shockwaves through the global economy."

"Independent Australian market strategist, Greg McKenna, said that market concerns had been repeatedly soothed by conciliatory words from Beijing and Washington. "
McKenna said “All the while, the tariffs are actually being imposed and the global growth, earnings, and interest rate cycles are pointing down again,” he said. “On top of that, the inverted US yield curve suggests to many that at best the US economy is slowing materially and at worst that the recession count down has begun.”
"But Chinese state media struck a defiant note on Sunday.
'The United States should learn how to behave like a responsible global power and stop acting as a ‘school bully’,” the official Xinhua news agency said.
'As the world’s only superpower, it needs to shoulder its due responsibility, and join other countries in making this world a better and more prosperous place. Only then can America become great again.'”
"Tariffs could not impede China’s development, said the official People’s Daily of the ruling Communist Party."
"'China’s booming economy has made China a fertile ground for investment that foreign companies cannot ignore,' it said, in a commentary under the name Zhong Sheng, or “Voice of China”, which is often used to state its view on foreign policy issues."
"For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access. "
"China has consistently denied Washington’s accusations that it engages in unfair trade practices, vowing to fight back in kind and criticizing US measures as protectionist."
Article Info (4)
Date Published: 11/30/-0001 12:00:00 am
Date Accessed: 11/30/-0001 12:00:00 am
Article Author: Martin Farrer
Click here to see the article