Offbeat US-China tariffs: 'The first shots to the trade war are about to be fired'

05:30  06 july  2018
05:30  06 july  2018 Source:   cnbc.com

Trump denies he's to blame for Harley-Davidson decision

  Trump denies he's to blame for Harley-Davidson decision President Donald Trump is denying that his trade policy is responsible for Harley-Davidson's decision to some motorcycle production overseas. The company says it's doing so because of tariffs it's facing in a trade dispute between the U.S. and the European Union. But Trump says that's an excuse.Trump says in tweets Tuesday that the company had already announced it was closing a Kansas City plant. Union officials have said those jobs are going to Thailand. Harley-Davidson has denied that.Says Trump: "That was long before Tariffs were announced. Hence, they were just using Tariffs/Trade War as an excuse.

A trade war between the U . S . and China is about to start, and there will be probably be “escalation upon escalation,” warned Geoff Raby, Australia’s former ambassador to China . China has said it will not " fire the first shot ," but its customs agency made clear on Thursday that Chinese tariffs on U . S

BEIJING (Reuters) - China will "absolutely not" fire the first shot in a trade war with the United States and will not be the first to levy tariffs , its finance ministry said on Wednesday. "The Chinese government's position has been stated many times. We absolutely will not fire the first shot , and will

Donald Trump and Xi Jinping © Provided by CNBC Donald Trump and Xi Jinping

A trade war between the U.S. and China is about to start, and there will be probably be “escalation upon escalation,” warned Geoff Raby, Australia’s former ambassador to China.

Ahead of the expected Friday implementation of American and Chinese tariffs, Raby told CNBC that “it looks like the first shots to the trade war are about to be fired.”

China, for its part, was already calling the tariff threats between Beijing and Washington a "trade war" in June.

“I thought that by now a negotiated solution would have been found,” he told CNBC’s Martin Soong, adding that it seems the U.S. has “walked away” from any potential deal.

Trump to pull tariff trigger at midnight in trade war escalation

  Trump to pull tariff trigger at midnight in trade war escalation President Donald Trump is preparing to slap tariffs on Chinese goods just after midnight Friday, the first shot in a trade war between the world’s two biggest economies. Tariffs on $34 billion of Chinese goods are scheduled to take effect at 12:01 a.m. in Washington, the U.S. Trade Representative confirmed in an email Thursday. The milestone marks a new and damaging phase in a conflict that has roiled markets and cast a shadow over the global growth outlook.In Beijing, policy makers are digging in for what could be a protracted fight -- one in which they say they won’t be the aggressor.

BEIJING (Reuters) - China will "absolutely not" fire the first shot in a trade war with the United States and will not be the first to levy tariffs , its finance ministry said on Wednesday. "The Chinese government's position has been stated many times. We absolutely will not fire the first shot , and will

The United States and China have fired the dramatic opening shots of what could become a trade war . President Donald Trump announced on Thursday that he would impose tariffs on billion worth of Chinese exports to the United States .

U.S. President Donald Trump said on Thursday that tariffs on $34 billion worth of Chinese goods will kick in at 12:01 a.m. EST on Friday morning. Another $16 billion are expected to go into effect in two weeks, he said. He told reporters he would also consider imposing additional tariffs on $500 billion in Chinese goods, should Beijing retaliate against the already-scheduled actions.

China has said it will not "fire the first shot," but its customs agency made clear on Thursday that Chinese tariffs on U.S. goods would take effect immediately after U.S. duties on Chinese goods kick in.

Raby, who was also his country’s former ambassador to the World Trade Organization, said that Trump seemed to be driven by “very short-term political considerations" ahead of U.S. mid-term elections in November.

“He’s escalated the dispute, the mid-terms are coming up, he’s polling well, and tough rhetoric coming out of the White House seems to be playing well with his base.”

He called it a “big risk” for the world trading system that its key player — the United States — is driven by such considerations.

“We’ll probably see escalation upon escalation. China has made it absolutely clear,” Raby concluded.

“It cannot show weakness in the face of the United States ... they have to respond. So I think this comes to some sort of end once there’s been a lot of damage done and people start to come to their senses.”

— CNBC's Chloe Aiello contributed to this report.

Some MAGA hats made in China may increase in price because of tariffs .
A California-based company that sells "Make America Great Again" hats similar to the official hats sold by the Trump campaign says its prices may rise in response to trade tensions with China prompted by President Trump's tariffs.David Lassoff, who runs the company IncredibleGifts, told ABC News that prices of the hat could do uble from between $9 and $12 to at least $20 if he is forced to abandon his Chinese manufacturers and make the hats in the United States.The hat, Lassoff said, is his website's best-selling item. He claims to have sold hundreds of thousands of the hat."We usually sell the MAGA hats for around $9 to $12.

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