United States tariffs on Chinese imports take effect

Adjust Comment Print

Reuters news agency reported that as of Friday morning, when tariffs took effect, some major Chinese ports had delayed clearing goods from the US.

USA customs officials will begin collecting an additional 25 percent tariff on imports from China of goods ranging from farming plows to semiconductors and airplane parts. Minutes later, China's Commerce Ministry issued a statement, saying that "the United States has violated World Trade Organization rules and waged the biggest trade war ever in economic history".

"China promised that it would not fire first, but it has been forced to take necessary measures to defend the core interests of the country and its people", the statement said.

Even if the Trump administration doesn't follow through on that threat, more individuals could be affected over time by the tariffs that kicked in Friday.

US President Donald Trump began the trade dispute when he imposed 25 percent duties on approximately $34 billion (€29 billion) in Chinese machinery, electronics and high-tech equipment including autos, computer hard drives and LEDs.

"Meanwhile, American consumers will pay more for cars and health care due to US tariffs on Chinese-made auto parts and medical instruments", they continued. "The countdown is on as to what Trump will do next".

Philadelphia 76ers to meet with LeBron James' agent in Los Angeles
According to ESPN , this is the longest deal James has signed since he signed a six-year-deal with the Miami Heat back in 2010. It is important to note the lineup is likely to look different as the off-season progresses, even if James comes to L.A.

Bangladesh might lose its export in U.S. market if the trade war changed the spending habit of USA consumers due to increased price of products, he pointed out.

Beijing and Washington have held several rounds of high-level talks since early May, but the Trump administration has said it is considering expanding the list of targeted Chinese imports.

"They need a lot of it, we have a lot of it, so hopefully everyone comes to their senses", he said.

USA firms in China are reporting increases in random inspections.

At midnight Washington time, the US imposed new tariffs on $34 billion of annual imports from China.

U.S. exporters stand to lose, as they will miss out on the massive tariff reductions by the Chinese government, which is determined to open its market wider.

North Korea says United States attitude in denuclearization talks 'extremely regrettable'
The talks are part of a broader US initiative to persuade North Korea to give up its nuclear and ballistic missile programs. Trump pledged a halt to large-scale military drills with South Korea during denuclearisation talks with North Korea.

"Imposing 25% tariffs on United States whiskeys could put the brakes on an American export success story", Christine LoCascio, senior vice president for global trade at the Council, said in a statement.

Companies in industries that use metal, electrical components and construction products will have to pay more for raw materials, and possibly charge more for their work, or cut or move jobs. If China is cheap, they go to China.

As the trade war with China - caused by tariffs demanded by Donald Trump - heats up, the editors of the Wall Street Journal have taken the president to task, sarcastically mocking him as a "master negotiator" who has yet to negotiate any deals while causing damage to the USA economy.

Officials in both Beijing and Washington were ready for an extended battle, possibly lasting into 2019, experts warned.

U.S. relations with other major trading partners have also been fraught following the Trump administration's decision earlier this year to slap tariffs on imported steel and aluminum, including those metals from the European Union, Mexico and Canada.

Nonetheless, despite the urging of business groups and lawmakers to negotiate a truce, there was little sign Friday that the two sides would reach a compromise anytime soon.

U.S. congressmen meet Russian officials in St. Petersburg
The U.S., alongside the European Union, placed tough economic sanctions on Russian Federation in response. He said the Kremlin was "very satisfied" that the senators were visiting Russian Federation .

Distillers are anxious that retaliatory tariffs, not only from China but Europe and Canada as well, could stunt their sales and slow expansion and hiring plans.