UPDATED: Trump administration slaps tariffs on roughly $200 billion more in Chinese goods

[BumRushDaShow]

Source: Washington Post

President Trump threw his biggest punch yet at China, imposing tariffs on an additional $200 billion worth of Chinese imports and gambling that American consumers are willing to pay more for popular products to wring trade concessions from Beijing. With Monday’s announcement, roughly half of the $505 billion in goods that Americans buy annually from Chinese firms will face new import levies.

Unlike the $50 billion in Chinese products that Trump hit in the first tariff wave in July — which fell mainly on industrial goods — Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.

Starting Sept. 24, American importers will pay an extra 10 percent tariff for the affected items, rising to 25 percent at the end of the year, according to senior administration officials, who briefed reporters on the condition that they not be identified by name.

China has vowed to retaliate for the latest U.S. tariffs with new import taxes on $60 billion in American products. If that happens, the president said he would immediately begin the process of approving tariffs on a further $267 billion in Chinese imports — effectively taxing everything Americans buy from China.

Read more: https://www.washingtonpost.com/business/economy/trump-administration-slaps-tariffs-on-roughly-200-billion-more-in-chinese-goods--a-move-almost-certain-to-trigger-retaliation/2018/09/17/15ded2f0-b215-11e8-a20b-5f4f84429666_story.html

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Full new title: Trump administration slaps tariffs on roughly $200 billion more in Chinese goods — a move almost certain to trigger retaliation

Original story and title -

Full title: Trump administration slaps tariffs on roughly $200 billion more in Chinese goods. China has vowed to retaliate against such a move.

By Washington Post Staff
September 17 at 6:36 PM

President Trump is proceeding with plans to put tariffs on a variety of Chinese products, including everyday consumer goods. The tariffs, which take effect later this month, will be 10 percent until the end of the year, when they will rise to 25 percent.

The action follows earlier import taxes on $50 billion of Chinese goods, most of which went into effect in July.

This is a developing story. It will be updated.

https://www.washingtonpost.com/news/business/wp/2018/09/17/trump-administration-slaps-tariffs-on-roughly-200-billion-more-in-chinese-goods-china-has-vowed-to-retaliate-against-such-a-move/?utm_term=.c75dbc4096c3

This is called throwing everything including the kitchen sink to distract.

[George II]

1. He had better be careful, they just might call in the $800+ million he owes them personally.

[Eliot Rosewater]

2. Our national security is fucked now too, but that is the plan, that is why Putin is ordering

him to do this.

Running out of time folks, we really are.

[BumRushDaShow]

3. You notice the timing of all these announcements

There was one about a cap on refugees, the delay of the Kavanaugh vote, the new tariffs. And today is Monday.

[sinkingfeeling]

4. Oh goody, an early Christmas present for the working stiffs.

[Bernardo de La Paz]

5. China will refuse to sell some items to the USA. Watch consumers have to buy Ch items via Canada. nt

[Bernardo de La Paz]

6. Chinese reaction will come Sept 24 also. In time to be felt before election.

There may be a quick jump in economic activity during the next week as orders are placed to try to beat the tariffs, but October may be cruel for workers unless tRump is lucky and most of the repercussions shift into November. But expect significant price rises in October.

[FloridaBlues]

7. Eventually this will hurt all of us in the pocketbook.

I hope this can be reversed with the next Dem President in 2020 if not too late to hurt our economy

[BumRushDaShow]

8. I'm sure the Waltons will not be pleased. nt

[joshcryer]

12. The Walton's dumped a lot of their stock.

They're getting out of the sinking ship that is about to implode under the enormous weight of Amazon.

[BumRushDaShow]

13. That's true and I did actually read that a few weeks ago!

Thanks for the reminder. The canary in the coal mine here.

[GeorgeGist]

9. Holiday taxes will be much higher this year ...

for most of US.

[watoos]

10. Yes consumer prices are going to rise,

but with Trump escalating the trade war it will affect the stock market. Trump's rich pals are not going to be happy, Trump could care less about poor consumers.

[joshcryer]

11. This is what the naif-left wanted.

[pampango]

14. Why bother to go to all the trouble to negotiate agreements with other countries when a president

can ignore them and just do whatever he wants to do? Why did we negotiate in the past? Why should we do so now?

Other leaders must be asking themselves such a questions.

[BumRushDaShow]

15. If the Senate were actually a functioning body

then a lot of this drama wouldn't be happening. I.e., the Senate has to ratify these treaties (including any withdrawals).