China: Beijing to Cut Tariffs on Imports From Most Trading Partners

China vows to retaliate against Trump's tariffs on $200 billion of Chinese goods

Alibaba's Ma: People should prepare for 20 years of China-US trade war:The Asahi Shimbun

Walmart, the American owner of Asda, expressed concern that the White House's latest proposals to launch tariffs on $200 billion of Chinese imports could cause severe economic damage across the United States.

One million jobs would be close to 1 percent of all jobs in the United States - meaning that successfully delivering would make Alibaba one of the country's largest private employers.

Tensions have escalated this week as the USA announced additional tariffs on about US$200 billion in Chinese goods, and Beijing responded with tariffs on about US$60 billion of U.S. goods.

Though it supports the imposition of tariffs on specific goods, Mema said the widespread approach of applying $200 billion worth of tariffs would hurt usa companies, put jobs at risk and negatively impact consumers.

Overall, the aluminum and steel tariffs could cost the US beverage industry almost $348 million, according to The Beer Institute.

Trump seems to think that China's economy is now so wobbly that the tariffs will push it over the edge, forcing it to come to the U.S. begging for mercy. There can be no compromise with the United States if that is the case.

And he added that for months the USA has urged China to change these unfair practices, and give fair and reciprocal treatment to American companies.

If Trump ultimately enforces another round of tariffs against China, practically every Chinese good imported to the United States would be hit by higher tariffs.

China says it will increase tariffs on $60 billion worth of USA goods Tuesday in retaliation after President Donald Trump announced new US tariffs on $200 billion worth of Chinese imports.

But, it added "the likelihood of de-escalation will rise over time as the increasing economic impact in the US will make the Trump team less combative, and China realises that it will be hard to integrate more into the global economy without some concessions regarding its specific economic model". The U.S. says the plans are based on stolen technology, violate China's market-opening commitments and might erode American industrial leadership.

"As the largest retailer in the United States and a major buyer of USA manufactured goods, we are very concerned about the impacts these tariffs would have on our business, our customers, our suppliers and the USA economy as a whole", Walmart wrote in its letter to Lighthizer. All these things are pretty much items being purchased by consumers daily, so the impact is seen in a different light. He has also threatened to put restrictions on Chinese investments in USA tech companies. Hyundai Merchant Marine Co.'s vessels leaving China for the USA are full, deliveries to California ports are surging, and cargo rates for journeys across the Pacific are at a four-year high.

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In a research note, the esteemed economist explained that tariffs can have unintended consequences because global supply chains are so complex.

The USCBC's survey of its 205 members was conducted in June and reflects rankings by respondents of the most significant issues they face as part of doing business there.

All valid points indeed.

President Donald Trump is defending the nation's continuing trade deficits, arguing that he's only "just started".

U.S. Commerce Secretary Wilbur Ross is downplaying the economic impact of the US-China trade war on consumers. It is now bigger than what it was before the big crisis of 2007-2009. "We have far more bullets".

And that comes along with the fact that the now the world's largest producer of oil, meaning oil is no longer a factor in the trade deficit, he said. If you look at what's going on, our market is going up like a rocket ship.

But China is only a sham capitalist economy. "No matter what changes are needed to the rules, it brings benefits. The farmers then complain that dealing with China is like trying to build a business out of a casino".

China's policies on trade facilitation and investment liberalization, in sharp contrast to the USA strategy, have been well received around the globe.

Li went on to say that the world's multi-lateral trading system should be upheld, and that unilateral trade actions will not solve any problems.

Despite these trade tensions, Kemmsies said the ultimate outcome is quite positive, noting how you don't get something good for nothing and everything has a cost.

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