China Has ‘Much More To Lose’ In Trade Dispute, Says White House

Trump proposes new tariffs on $200B worth of Chinese goods

Virtually all economists agree that restricting trade has damaging economic consequences for all countries that employ such policies, but the scale and the scope of the losses are potentially huge, not just for the USA and China, but also for countries not directly involved. That would bring the total number of Chinese goods subject to tax to $450 billion, nearly 90 percent of all the goods the USA imported from that country previous year.

European Chamber President Mats Harborn said that as Chinese companies become stronger and more competitive, it is time for Beijing to "remove the training wheels".

The president earlier ordered 25 percent tariffs on $50 billion in Chinese goods as punishment for Beijing's forced transfer of USA technology on companies doing business in China, and for intellectual property theft.

"If they thought that they could buy us off cheap with a few extra products sold and allow them to continue to steal our intellectual property and crown jewels, that was a miscalculation".

A US-China trade war would not only destroy the economies of the two countries; it won't spare their trading partners.

President Donald Trump has directed the U.S. Trade Representative to prepare new tariffs on $200 billion in Chinese imports as the two nations move closer to a trade war.

Mounting concerns over the US-China dispute sent global stock markets skidding and weakened both the US dollar and the Chinese yuan yesterday. This should have been done many years ago.

The Dow Industrials and S&P 500 fell more than a percent, but the losses in Asia were more severe. United States bond yields fell in a flight to safety.

"If the US becomes irrational and issues this list, China will have no choice but to adopt strong countermeasures of the same amount and quality", the statement said.

Wall Street slumped in midday trade as trade tensions between China and the U.S. continued, as the two largest economies in the world faced a tit-for-tat over trade tariffs. Among others, Marios is delivering weekly trading webinars. Second, it is hard to reduce tensions in tit-for-tat trade fights after the imposition of tariffs.

Mr Trump, pursuing his "America First" policy, has been insisting that China has been unfairly benefiting from a massive trade imbalance with the U.S., now estimated to be $376 billion. Some believe Mr Trump is bluffing, contrary to Mr Navarro's comments. Gary Cohn, Trump's former top economic adviser, said last week that a "tariff battle" could result in price inflation and consumer debt - "historic ingredients for an economic slowdown".

"I don't think all of this is set in stone", he said. But Trump has been unusually direct about threatening to disrupt such a large volume of Chinese exports.

There has been a drastic fall in stock markets across the globe in the wake of President Trump's recent threats of tariffs to China.

"President Trump will have the backs of all Americans who may be targeted by Chinese actions and with respect to the farmers in Iowa or any other state", Navarro said. Cook reportedly has had better luck speaking with Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, and Larry Kudlow, the director of the White House's National Economic Council. It is also a key aim of Washington's trade dispute with Beijing and effort to make trade fairer.

Monday's announcement comes just three days after Mr Trump officially announced that tariffs on $50 billion worth of Chinese goods would be subject to a new 25% tariff starting July 6.

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