Friday, August 3, 2018

TRADE WAR China Escalation; Potential New Tariffs on 5,207 American Made Goods


China has announced it would slap levies on $60 billion of U.S. products if the Trump administration moves ahead with its tariff threats against Beijing.

In a statement issued late Friday, China’s cabinet said the government is preparing to impose duties at levels of 25%, 20%, 10% and 5% on some 5,207 American goods.

“The implementation date of the taxation measures will be subject to the actions of the U.S., and China reserves the right to continue to introduce other countermeasures,” the cabinet, known as the State Council, said. “Any unilateral threat or blackmail will only lead to intensification of conflicts and damage to the interests of all parties.”

This is a dumb Chinese response to dumb Trump anti-trade policies. Even unilateral free trade is a positive for the standard of living for any country that adopts free trade.


-RW