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New tariffs hit Chinese goods

by Harvest Prude
Posted 5/10/19, 11:14 am

The United States imposed new tariffs on $200 billion worth of Chinese goods on Friday after trade talks between China and the United States didn’t immediately resolve disagreements Thursday. Tariffs on certain items exported from China jumped from 10 percent to 25 percent. The Chinese government vowed to take “necessary countermeasures,” but did not give specifics.

President Donald Trump announced on Sunday he would escalate tariffs after learning that Chinese negotiators backtracked on previously agreed upon commitments, jeopardizing key points of the trade deal. The Trump administration imposed tariffs on $250 billion worth of Chinese goods last year. China responded by adding tariffs on $110 billion of American products, primarily U.S. soybean exports.

Trump told reporters Thursday that he received a letter from Chinese leader Xi Jinping, suggesting that a trade deal is still on the table. A Chinese delegation, led by Vice Premier Liu He, arrived in Washington on Thursday for two days of discussions with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. Trump tweeted Friday that “talks with China continue in a very congenial manner—there is absolutely no need to rush.” He added, “In the meantime we will continue to negotiate with China in the hopes that they do not again try to redo deal!”


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Harvest Prude

Harvest is a graduate of the World Journalism Institute and a reporter for WORLD.

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Comments

  • Midwest preacher
    Posted: Sat, 05/11/2019 05:02 am

    We must remember that the news media, in general, is opposed to Trump and not just a rational, steady difference of opinion but a radical, all consuming hatred.  Therefore, it is possible, whenever there is an event which might make the market jittery the MSM builds it up to make the market tank if possible.  Under these conditions the market may become very emotionally driven and money may be lost without any real reason for it.  Also, we have people in our government who do not favor the economic system we now operate under and they may be doing things to make the situation worse not better.  We are in negotiations with China and both sides are using tools and methods they think will strengthen their position.  Steady optimism will help our position. The problem may well be we have too many, in this country, that are not on America's side in this confrontation.  

  • OldMike
    Posted: Tue, 05/14/2019 10:23 pm

    You are certainly correct. Our trust must be in the Lord, because political parties, retirement accounts, even the fact we live in the US, are all shaky ground to base our security on. 

    “For when they say, ‘Peace and safety, then sudden destruction comes upon them...”  I Thessalonians 5:3. 

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