Trump imposes 10 percent tariff on $300B of Chinese imports

Trump imposes 10 percent tariff on $300B of Chinese imports


NEIL: YOU KNOW, I’M ALWAYS FASCINATED BY HOW THE MARKETS REACT TO A SUDDEN NEWS ITEM. IN THE CASE OF TRADE, IS IT GOOD FOR TRADE, DOES IT MEAN A DEAL COULD HAPPEN? THE PRESIDENT SUDDENLY ANNOUNCING HE’S GOING TO IMPOSE AN ADDITIONAL 10% TARIFF ON $300 BILLION WORTH OF CHINESE IMPORTS THAT HADN’T BEEN HIT ALREADY. THIS MEANS ALL CHINESE PRODUCTS THAT COME TO THIS COUNTRY WILL BE HIT. SOME CAN INTERPRET THAT AS A BRILLIANT NEGOTIATING PLOY OR SAY ARE YOU NUTS, THIS IS CRAZY. RIGHT NOW IT’S THE LATTER, ARE YOU NUTS, THIS IS CRAZY. BECAUSE BETTER THAN 100 POINT GAIN HAS BEEN WIPED OUT FOR THE TIME BEING. LET’S GET THE READ FROM EDWARD LAWRENCE FOLLOWING ALL THIS VERY VERY CLOSELY. WHAT’S THE LATEST? REPORTER: HEY, NEIL. THE THIRD OPTION THAT HE’S VERY FRUSTRATED WITH WHAT’S HAPPENING WITH CHINA AND THIS COULD BE A RESULT OF THE BRIEFING THE PRESIDENT GOT THIS AFTERNOON OR TODAY FROM THE TRADE NEGOTIATORS, U.S. TRADE REPRESENTATIVE ROBERT LIGHTHIZER TALKING FACE-TO-FACE WITH THE PRESIDENT ABOUT WHAT HAPPENED IN SHANGHAI. NOW, THE PRESIDENT TWEETING OBVIOUSLY POSSIBLY AS A RESULT OF THAT BRIEFING THAT HE GOT, THE TWEET THERE SAYING THAT ON SEPTEMBER 1st, HE WILL PUT BASICALLY EVERYTHING ELSE THAT CHINA IMPORTS UNDER A 10% TARIFF, THAT’S $300 BILLION WORTH OF GOODS COMING INTO OUR COUNTRY HERE. SADLY, THE PRESIDENT SAYS OR GOES ON IN THESE TWEETS TO SAY THAT HE BELIEVES THAT THE CHINESE ARE TRYING TO RENEGOTIATE THIS TRADE DEAL WHEN THEY ALREADY HAD A TRADE DEAL. AGAIN, THIS COULD BE FRUSTRATION FROM THE PRESIDENT HERE. THE TWO SIDES ARE TALKING, BUT THEY ARE OBVIOUSLY SAYING TWO DIFFERENT THINGS PUBLICLY. CHINA HAS SAID THAT THE U.S. HAS AGREED TO REMOVE HUAWEI FROM THE ENTITY LIST. THE COMMERCE DEPARTMENT TOLD ME TODAY THAT IS NOT THE CASE. THERE ARE STILL 50 APPLICATIONS, THOUGH, FROM 35 COMPANIES TO SELL PRODUCTS TO HUAWEI. THE CEO FROM INTEL SAYS THEY ARE ONE OF THE COMPANIES HOPING TO SELL A GENERAL PURPOSE COMPUTER PRODUCT TO HUAWEI. STILL, CHINA TALKING WITH THE CHINESE COMMERCE SPOKESPERSON SAYING THE U.S. NEEDS TO FOLLOW THROUGH WITH THE COMMITMENT WITH HUAWEI. ALSO SAYING THAT THE CHINESE WILL BUY MORE AGRICULTURE FROM THE U.S. ACCORDING TO DOMESTIC NEEDS. RIGHT NOW, CHINA IS CONSIDERING LOWERING TARIFFS ON AGRICULTURE GOODS FROM THE UNITED STATES BUT THEY ALSO HAVE AN AGREEMENT WITH RUSSIA TO HELP THE RUSSIANS GROW MORE SOYBEANS AS WELL AS ADD INFRASTRUCTURE TO SHIP IT TO CHINA. THE SOYBEANS EXPORTS FROM THE U.S. TO CHINA DROPPED 96% FROM 2017 TO 2018. EXPORTS FROM RUSSIA TO CHINA INCREASED 65% DURING THAT SAME TIME FRAME. STILL, THE ADMINISTRATION SAYING TARIFFS ARE WORKING AND THEY WILL GET CHINA TO THE TRADE DEAL.>>TARIFFS ARE GOOD. TARIFFS ARE RAISING REVENUES, THEY ARE HELPING DEFEND OUR STEEL AND ALUMINUM INDUSTRIES, THEY ARE HELPING TO GET CHINA TO THE NEGOTIATING TABLE. DO YOU THINK CHINA WOULD BE AT THE NEGOTIATING TABLE?>>NO, I DON’T.>>TARIFFS IN THE CHINA CASE WORK BEAUTIFULLY. REPORTER: BUT THERE ARE NO SIGNS RIGHT NOW THAT A TRADE DEAL IS IMMINENT RELATED WITH CHINA OR EVEN HAPPENING THIS YEAR. CHINESE SOURCES SAY THEY ARE NOT PLANNING ON HAVING A TRADE DEAL OR GEARING UP FOR ONE THIS YEAR. THE PRESIDENT TWEETING OUT EARLIER THAT BASICALLY CHINA, IRAN AND OTHER FOREIGN COUNTRIES ARE LOOKING FORWARD TO DEMOCRATS AND DROOLING OVER THE PROSPECT THAT THEY COULD BE DEALING WITH THEM. PRESIDENT TRUMP SAYING IF HE’S RE-ELECTED THAT ABSOLUTELY WILL NOT BE THE CASE. THERE’S A SENSE THE CHINESE MAY BE WAITING FOR THE ELECTION TO HAPPEN. ALSO A SENSE THE CHINESE MAY BE WAITING FOR THE U.S. ECONOMY TO TURN SOUTH, THEREFORE, THEY COULD GET BETTER TERMS IN A TRADE DEAL. BUT AGAIN, AS OF RIGHT NOW, IT DOES NOT APPEAR A TRADE DEAL WOULD BE LIKELY THIS YEAR. THE PRESIDENT UPPING THE ANTE NOW, OBVIOUSLY SAYING SEPTEMBER 1st, MORTA 1st, MORE TARIFFS AT A 10% LEVEL. HE COULD GO TO 25%, BUT HE’S STAYING AT THAT 10% LEVEL TO START. NEIL: THESE ARE THE SAME ONES HE HAD DELAYED PRIOR SO HE PUT THEM BACK ON TO START SEPTEMBER 1st, THEN AGAIN, JUST TO LET YOU

100 thoughts to “Trump imposes 10 percent tariff on $300B of Chinese imports”

  1. Kids erea 51 is nothing but another one of Hitler's unfinished bunkers.9-20 is a booty trap!I'd avoid nevada like the plague

  2. The USA, the liars, the cheaters n the theives will definitely suffer from this trade war. The China goods are exported every corner of the world. They did not defendent on USA only.

  3. Stop blaming China trumpazee. This is your fearless leader fault. China doesn’t care about trump. China thinks trump is beyond stupid. It the perfect storm for dumbo to become a president to pull out of tpp. Trump got compensated for ivanka trade brand in China. Get ready Americans. Trump is fing u.

  4. China pays for the tariff trump said. Get a life n educate urself trumpazee. Stop lying to Americans that the tariff is working. Get out of my country white angry men before u ran USA to the ground

  5. Hey china…just increase tariffs on american cars industries like gm and others…its their main nerve,….these create millions of jobs and put pressure on any president…..its so easy……

  6. Real Americans where cut off from the economy in 1984:while trump knitted affirmitive action.and sold our factories out.and jailed whites for smoking weed so they'd use meth

  7. Their main trick was opening factories in china to sell their product ( the endline is them selling their american cars)…..and threatening to cut thousands of chinese cheap workforce…….these are old tricks china shouldnt bite into….lol creating the virus and threatening you with the drug price….

  8. F China imports buy made in America. The Chinese have been ripping off the USA for the past 30 years. Time for change. American mfg. can return to the America and employ and train a US workforce. and avoid all tariffs.

  9. Our government is bloated with doetards and Obama gibs.they don't know how or what there doing but they shure love the pay and job security of AFFIRMATIVE action!
    And they love not knowing NOTHING!

  10. China is way too stupid, is there any signs that trump won’t win the re-election?? China keeps on lying such as buying again agriculture n meat products. At this time don’t let China dictate the trade war. Hit china with all its products asap. And this time let China beg to make a trade deal. Trump is clearly on his way to win the re-election. China is a 1.3 billion people idiots

  11. The whole point of this trade war was for trump to literally gain the power of manipulating the stock market, imagine the infinite ways his many elite friends are getting even richer by knowing whats going to happen. Its common sense, and so whats obvious is that by initiating the trade war, and being unpredictable, now he can say when the market will go up or down, he controls our economy, and now we are hostage to his personal agenda.. do you get it this is all that matters on the global stage.

  12. China most probably wants a Democrat to become President. Shall we make Trump the next President in 2020? Then China plan will not do well.

  13. trump needs to go get some lesson on international tariffs and their implications if done wrong….like,e the way is doing it , over and over! idiot ! the markets are telling him so, and he still doesn't get it???

  14. This is going to bring all other companies still in china to leave china to cover for losses, bye bye China, shouldn't have went against the grain

  15. Bernie Sanders is right on the money – Universal Health Care for all – no deductibles, no copayments, and no “insurance” middlemen.  The right wing zombies who’ve been trained to fear democratic socialism are delusional worker ants blindly and unknowingly serving the corporate  interests of shadowy plutocrats who lie to them about markets, money and taxes, in the same way their various unscrupulous, money grubbing clerics have lied to them about god and jesus ever since the nonsensical Nicene Creed was cooked up by Constantine’s lackeys at the Council of Nicaea in 325AD. It’s an old hustle progressives have finally deflected.

  16. China is a long term investor, the US is a speculator when it comes to investment. One president signs a treaty, the next one breaks the deal. China is not interested in the US, they’re investing their money in Africa. They may help Africa in a way that the US never helped South America.

  17. P Trump said a number of times since May that China was very eager to make a deal with US. But China acted opposite, not interested in dealing with Trump's terms . Very poor assessment of P Trump.

    A trade war between two largest economies will cause global recession. Billions will suffer. China will suffer badly but US will suffer worse cos US has more to lose. This is Trump's recession.

  18. A 100% tariff on imports into India are considered a luxury tax. What is going on with the US only charging only 10%. Is the U.S. keeping up competitive with India?

  19. Let's see from both sides
    Fact :
    In 2018
    The US exported USD. 120 B and imported 540 B. Deficit of USD. 420 B
    The China exports 540 and import 120 . surplus of USD. 420 B

    From the USA side : You will feel very unfair and one sided trade. You wanted to get rid of those deficit.
    But
    From China side : You would feel It's fair to make huge money from competitive products. You want to maintain that and even to increase those surpluses if possible

    Now, They both use their strength to negotiate….
    either way both sides will suffer. The chinese will lose the most …..420 billion loses that's a jumbo losses

  20. Many people don't like Trump but in this case, he is right. You can not let your partner running a huge trade surplus….That's not partnership. That is a seller and you are a buyer…Time to fix this unfair deal around the world not only against the USA but also against Indonesia and the rest of the world. We mostlyl are losing money trading with China….

  21. TRUMP IS A GENIOUS. A REAL MAN WITH BALLS THAT CARES FOR THE FUTURE OF THIS COUNTRY. HE IS THE ONLY AND I MEAN ONLY PRESIDENT WITH A SPINE TO ADDRESS CHINA RIPPING OFF AMERICA FOR DECADES. YOU PEOPLE WHINE ABOUT A LITTLE PAIN IN THE STOCK MARKET WHEN THE LONG TERM GOAL IS TO BRING BACK JOBS AND AMERICAS ECONOMIC SUPERPOWER STATUS.

  22. Imagine 300 Billion a month from China into the US Treasury coffers
    300 Billion a month for a year and half…….. go ahead and wait China …..more money for the US

  23. china is a communist country and will not follow international business regulations. they produce low quality products. usa product last a lifetime.

  24. Less Chinese craps more Ikea. Emotiva used to be made in China not anymore and the price is not any higher. Don't buy into Wall Street fear mongers.

  25. According to the media, the US economy is BOOMING. Isn’t it merely a “credit expansion”? NOW, the Federal Reserve lower interest rates again to allay investor’s fears. A few months ago, they said interest rates we're gonna be RAISED because our economy was so FANTASTIC it had recovered.

  26. What INCENTIVE does China have to buy US agricultural and meat Products, if proven they’re Gene-manipulated? Americans don´t seem to care about Gene-manipulated products but the consumers in Europe and many other developed countries WON’T buy Gene-manipulated products. China already own a large portion of our debt and already have deals in place with other countries to buy agricultural products at a better rate. Why would they give up that leverage? Threats and blustering from the US will not change the economics.

  27. America CAPITULATED to China at the G20. CHINESE ECONOMIC SUPREMACY is inevitable and China’s consumption will EXCEED US levels in the mid of 2030. Many countries including the Philippines, Vietnam, New Zealand, Australia, Indonesia, Thailand and Malaysia are SHIFTING their trade balance away from the US toward CHINA. They are all INTEGRATED into supply chains which are located where the HUB is, essentially located in China. You need to have a CHINA STRATEGY if you want to have a manufacturing strategy. China trades with all these countries MORE than the US does. In 2020, China will be the biggest economy in the world. The US is trying to stop that train but it CANNOT be stopped.

  28. US caved in big-time, NOTHING has been gained from this trade war. The US now has to HOPE that China buys more America goods. US moaned about how Huawei was stealing US technology yet US now eased restrictions on the company. China has checkmated US.

  29. US spend billions on tariffs just in order to move these low-end manufacturing jobs from China to other South East Asian countries? Even if we could move these low-pay jobs back to the US as claimed by Trump, it’d only attract illegal immigrants because only they’d do these jobs. What’s the POINT?

  30. Most US companies are in China for the Chinese market and because China represents between 27 and 33 % of global growth. Most US companies are in China because it has a middle class that is larger than the population of the US and China is such a dynamic strong vibrant and innovative economy and American wish to be a part of that.

  31. There is no law in China that requires foreign companies to transfer technology. If it did happen, US companies could have walked away. No one is preventing US companies from leaving China. The decision is totally in American hands.

  32. Just impose full tariffs. China is prolonging this so sleepy joe or someone else wont have backbone to kicka$$ on them. China are thieves and will never hold there commitments no matter if theres some deal

  33. Why not start with 25%? Let's make everyone stop importing from those chinese thieves. Cheap, low skill labor is abundant. Let's watch chinese economy crashhhhhh.

  34. I don't know if I applause Fox or what…for keeping this guy's job with that crappy voice…but god damnit lol

  35. We all need to wake up. We are at war with China, yes it's a trade war but they have pillaged us, not just trade but they have stollen our technology and our science. Not to mention they are renigging on the treaty with the UK and trying to force Hong Kong to fold, and threatening Taiwan with invasion. Both HK and Taiwan are democracies, but we do nothing. And they fully support North Korea. We just don't need tariffs, we need to realize this is indeed a war of ideas/ideology and NOT buy anything made in China!! Yes, this will be tough, but we sacrificed during both WWI & WW2, we need to do the same now, or China will take over the world!

  36. One thing is ABSOLUTELY CERTAIN, if the tables were turned, these COMMUNIST would show no MERCY to America in every aspect.
    Take a good look around the WORLD, do people really think that these COMMUNISTS care about the financial markets. They devalue their currency when ever it suits them, and print money that has no value.
    The UK ,France and Germany are sitting ducks right now, I wonder who will come to their AID ,when these COMMUNIST and EXTREME ISLAMIST go on a RAMPAGE in EUROPE, not so far in the distant FUTURE.
    IF THE TABLES WERE TURNED, I wonder ? Their ACTIONS speak louder than their WORDS.(Communists)
    The WORLD has no clue, as to the DARKNESS that dwell it in the Chinese Communist PARTY.

  37. JUST ANOTHER DEAL GOING BAD FOR THE PRESIDENT – NOTHING NEW. IF ONLY HE KNEW HOW TO MAKE DEALS WITH CHINA … or any deal

  38. Trump does not really understand China and Chinese people. Bullying will not work with Chinese who favour polite and civilized approach  to resolve issues. To say China will pay the tariffs is completely non-sense. This is a case of fooling oneself before fooling others. Peter Navaro hinted a point that tariffs raise revenues as tax cut has depleted the the treasury. The truth is Trump will get some money back from America but spinned as China will pay it. This is typical of repeated fake news to be hoped to be believed by people. America should understand that China is not as weak as before, there is no way that China will religuish its system and structure which has been working well . I think China will be OK if its GDP gopes to the same level as USA, e.g. 2%. Trump is running out of options as the latest tariffs will hurt American public, it is the last but also will be devestating to USA. Trump's desperation will lead to election loss for sure.

  39. China has already won the trade war. GDP growth in Q2 has clearly shown that trade war is in fact hurting USA more than China, yet orange bufoon keeps shooting himself in the foot yet again. All China needs to do is wait for 2020. By than US economy will probably take a major downturn and American electorate will vote Trump out of the office.

  40. trump doing what destroyed America , importing junk at a cheap price while American products was higher priced better made but was costing a fortune to run business in America, thanks to blood suckers like lawyers , the more products made in America will lower the price when America makes a billion items they get real cheap they will still be a good product , unlike junk from china

  41. 10% on $300,000,000,000 stock of China. Which means $3,000,000,000 plus. That's a good numbers for USA and USA markets.

  42. If we are getting along as a nation, then Democratic leaders are making way less money, because the tide has turned toward us. However if they can instead divide us, then they Alone can control the currency tide. DIVISION , has always been, and always will be what Democratic leaders shoot for every single day. Their core nonnegotiable goal is division. That's what their wealth is built on and without which makes their house crumble. Make no mistake although they scream inclusion, their goal and some won't even tell you behind closed doors, it's clearly to divide divide divide. So Buckle China, buckle, or were going to buckle you ourselves.

  43. Everybody who knows that is going on understands this was Trump's nudge to the Fed into more QE the day after they announce only a .25 bp cut. Considering the trade war tariffs as a strategy and his HUGE deficit, this President has become a total failure.

  44. American people, you should wake up immediately !!!
    China is exporting fentanyl to America to poison your son and daughter!!!
    Obama is a soft and weak in the face of China, let the debt reached a staggering $19.9 trillion increased by 116%, allowing China to steal American technology, penetration American academia, use money to control America's politicians, lead to the rise of China, almost replaced the us as hegemonic.
    Trump is a strong leader, a great President, Obama is a good man, but not a good President.

  45. He does this for the market to go down. This is a vendetta for the Fed's decition. I think he expects the fed lower the interest rates more and boost his campaign and the economy. Sorry for my english 😎

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