UPDATE: Trump administration targets $50 billion in Chinese electronics, aerospace and machinery

[BumRushDaShow]

Last edited Tue Apr 3, 2018, 06:37 PM - Edit history (1)

Source: Washington Post

The Trump administration Tuesday unveiled its list of roughly $50 billion in Chinese electronics, aerospace and machinery products it plans to hit with steep tariffs, the latest move in a deepening U.S.-China trade conflict.

The 25-percent import taxes are designed to penalize China for discriminatory policies that the United States says puts its companies at a disadvantage in the Chinese market. President Trump has complained that the Chinese government forces U.S. companies to surrender their proprietary technology in return for access to the Chinese market and engages in cyber theft to acquire other American trade secrets.

Trumps latest protectionist move threatens to upend global supply chains for corporations such as Apple and Dell, raise prices for American consumers who have grown accustomed to inexpensive products and aggravate tensions between the worlds two largest economies.

The pain will be very visible and the potential gains will be very abstract. The administration hasnt prepared the U.S. for the downsides of a trade war, said Brad Setser, a former White House economist in the Obama administration.

Read more: https://www.washingtonpost.com/business/economy/trump-administration-targets-chinese-electronics-aerospace-and-machinery-goods-with-50-billion-in-tariffs/2018/04/03/9be42e5e-3786-11e8-9c0a-85d477d9a226_story.html?utm_term=.3eff9cb24d12

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Updated full headline: Trump administration targets $50 billion in Chinese electronics, aerospace and machinery goods with tariffs

Full orignal headline: Trump administration targets Chinese electronics, aerospace and machinery goods with $50 billion in tariffs

Original article -

by Washington Post Staff April 3 at 5:25 PM

In the latest move in a deepening U.S.-China trade conflict, the Trump administration made public a list of Chinese products it plans to hit with steep tariffs.

The 1,300 proposed tariff increases are designed to penalize China for policies that U.S. trade officials say put American companies at a disadvantage in the Chinese market. But business groups have warned they could backfire on U.S. companies such as Apple, Google, IBM and Dell.

This is a developing story. It will be updated.

POLITICO

Trump escalates trade tensions with China

By ADAM BEHSUDI

04/03/2018 05:17 PM EDT

President Donald Trump escalated his trade war with China on Tuesday by threatening to slap new tariffs on $50 billion in imported goods ranging from bakery ovens to ball bearings.

The action is the latest step in Trumps trade offensive that aims to punish Beijing for pursuing policies accused of bolstering its own technological and economic development at the expense of U.S. companies. The tariffs are likely to invite even more retaliation from China, which has already hit back against separate U.S. trade restrictions on steel and aluminum by hiking tariffs on $3 billion worth of U.S. imports of pork, scrap aluminum, wine and other agricultural products.

On March 22, Trump directed his administration to take action after a monthslong investigation into allegations that Beijing is forcing U.S. companies to transfer valuable technology as a condition of doing business there. The proposed list published Tuesday includes 1,300 products that will be subject to new tariffs after a public comment period.

The value of the product list would equal to the annual damage the Trump administration says U.S. companies suffer as a result of Chinas technology transfer policies. The levies are aimed primarily at manufacturing sectors China is accused of bolstering through state-backed companies and programs.

https://www.politico.com/story/2018/04/03/trump-china-tariffs-technology-454222

Here we go.

Foxconn? And noticed that it seems "clothing/textiles" might not be included here.

Edit to add -

https://www.youtube.com/watch?vR5BconTPNDk

[Eliot Rosewater]

1. Most trumpers will be harmed but will figure out a way to blame this on Obama

Last edited Tue Apr 3, 2018, 06:03 PM - Edit history (3)

We cant go forward until deplorables no longer exist


I really hate it when people KNOWINGLY take my comment and try to make it mean something it doesnt

For instance ANYONE WHO KNOWS ME knows this means when they die off, naturally.

But people who are out to SILENCE democrats will see another meaning.

Otherwise you could find ONE post of mine suggesting violence, and they cant. I am losing patience with the D party haters

[Bernardo de La Paz]

9. Genocide or ethnic cleansing is not a solution. Please do not even suggest it on DU. . . . nt

1. Most trumpers will be harmed but will figure out a way to blame this on Obama

We cant go forward until deplorables no longer exist

[LanternWaste]

12. Trump voters are not part and parcel of any one ethnicity.

Trump voters are not part and parcel of any one ethnicity; hence, genocide is certainly not the most accurate term available.

Please do not minimize nor trivialize the weight of actual genocide on DU by applying it merely to fit your own narratives.

[Eliot Rosewater]

13. Especially since it was NEVER in my mind in the first place but that person knows that

god dammit this SHIT pisses me off

But I am an UNCONDITIONAL supporter of the Democratic party so I am a MAJOR target. that is a FACT

[Bernardo de La Paz]

24. We don't read minds. We read words. "until deplorables no longer exist"

You edited the post.

Nobody accused you of committing genocide.

[Eliot Rosewater]

25. I did NOT edit the part you pointed out as genocide, why are you SAYING THAT?

Stop attacking me, I am a DEMOCRAT...stop!

I edited out NOTHING, I added to the post after YOU accused me of genocide

THAT is the FACT

[sandensea]

35. Of course you didn't imply anything of the sort.

Bernardo failed to accurately read your post, apparently.

[iluvtennis]

36. + agree

[sandensea]

37. Thanks.

I do hate misunderstandings.

[George II]

18. Where do you get "genocide" or "ethnic cleansing" from that?

[mcar]

29. Where do you get genocide or ethnic cleansing out of what Eliot said?

What ethnicity are Dotard voters?

[ehrnst]

48. I didn't get that from the post at all. (nt)

[NurseJackie]

49. Oh good grief! GMAFB! Nobody did that.

Please do not even suggest it on DU. . . . nt

[Freethinker65]

2. MAGA

[bronxiteforever]

3. this will end well says no one ever.

[RainCaster]

22. 45 said that trade wars are easy to win

So let's see how all this winning goes. I've got my popcorn.

[keithbvadu2]

4. Donald says 'Trade wars are good, and easy to win'

Dotard says 'Trade wars are good, and easy to win'

https://www.google.com/search?q=trade+wars+are+easy+to+win&sitesearch=democraticunderground.com

[SergeStorms]

40. So much winning.

Or is that, 'whining'?

[NewJeffCT]

5. Looks like the market will tank again tomorrow

in anticipation of China retaliating more.

[Kittycow]

10. I bet China will play the Soybean card next.

[still_one]

19. They can play a lot of cards. Divert commercial airline purchases to airbus, automobiles to Japan

and Korea, fruits and vegetables to South America, and buy other products from Europe and other countries.

We have a hell of a lot more to lose than China does, since China has a lot of other options available to them.

A lot of folks may not remember when Jimmy Carter boycotted the Olympics being hosted in Russia, and also implemented a wheat embargo to protest Russia's human rights abuses. The ones who were hurt in that were the U.S. athletes, and the American farmers. Russia sure wasn't hurt, and the same thing will occur with this, but it has the potential to have far more serious economic impact

[Kittycow]

30. Thanks for the overview.

I've admittedly been fixated on soybeans since it's a pretty big export and I've been waiting for those trump voting farmers to react to this.

So far I've been looking for hog farmers reaction in the local papers online but I've only found what their agricultural boards and associations are saying.

I guess I want at least one or two of them to admit publicly that they were duped.

[still_one]

33. your focus is right Kitty, because that is exactly what will have immediate impact

[paleotn]

39. And more MAGAts....

will get screwed. Karma is going to bit them in the arse, and they will blame everyone else but themselves.

[BumRushDaShow]

45. The soybean card JUST got dropped

https://www.cnbc.com/2018/04/04/china-new-us-tariffs-including-soy-cars-and-chemicals.html

[Kittycow]

47. Thanks for the link .

The soybean tariff is going to hurt his farmer voters big time!

[NastyRiffraff]

6. For a so-called "businessman"

he knows very little about business, and almost nothing about trade. Either that or he's deliberately trying to tank the U.S. economy.

[BumRushDaShow]

7. It feels like it was done to fuel the other chaos that is going on right now.

By keeping people flustered continually, you wear them out, and then they become more malleable to propaganda.

[docgee]

8. I won't upgrade my cell phone or buy a new TV until that turd is out of office.

[progressoid]

11. better buy your electronics NOW!

[still_one]

16. Food prices, automobiles, and a host of other products will go up also

[still_one]

14. This continues I wouldn't be surprised if China moves most of their airplane purchases to airbus,

and produce, meats, fruits and vegetables to Europe and South America

[sdfernando]

15. Ugh!!!! just wait for the coming armageddon when

China decides to stop purchasing US Treasury bonds. We'll be in some deep shit then.

Trade wars are easy to win??? sure, but which side is winning?

god how I hate the Spanky!

[groundloop]

17. But no tariffs on maga hats or low quality Ivanka clothing

45* (i.e. spanky) will absolutely fuck over everyone else but he damned sure won't do anything to cost himself or his clan one red cent.

[progressoid]

21. No problem. They'll just declare bankruptcy again.

And screw their debtors again.

[NickB79]

20. At this rate, Walmart's shelves will be bare in 6 months

[herding cats]

23. Soybeans, Boeing or rare earth metals?

I'm speculating on what China hits back with next.

[Iliyah]

26. Wait a minute, I thought t-rump was bestie with China . . .

[Maxheader]

27. Aerospace?

Wouldn't think boeing and all the others will like this. Cheetox
is killing retirement savings for americans..piece of shit.

[roamer65]

28. Full embargo on rare earth metals exports.

If I were the Chinese, I’d go right for the jugular.

[KY_EnviroGuy]

32. That would do it.

Could put much of our electronics industry in the shitter. Another similar one I thought of would be a hefty export duty on batteries of all types. That would get a lot of consumer attention, along with companies like Tesla.

No winners here that I can see, except perhaps for those who can afford to hedge the stock and commodities markets.

[Sgent]

41. Batteries aren't

dominated by China. Taiwan, Japan, Singapore and S Korea are all bigger manufacturers, and Tesla makes theirs in the US. Lithium is mostly Australian and Argentianian.

[KY_EnviroGuy]

42. Thanks for that clarification.

So, China does not dominate the lithium supply. Wasn't aware Tesla was making their own now. I have seen cell phone and other consumer batteries made in China, though.

In essence, you're saying they can't hold us hostage over batteries. Do they control the majority of supply of any other rare metals?

I believe they are heavily invested in the copper and iron ore supply chains.

[Sgent]

46. The thing they can

really kill us on is (as you alluded to), rare earth metals which are needed for electronics. That said, they aren't the only supplier, but it could take a few months (or longer) for other suppliers to ramp up production. The US has the largest proven reserves, but our mines are basically on standby (ie -- they aren't used but they aren't completely boarded up, for just this reason).

[SleeplessinSoCal]

31. Trump shot first. But China already has put him on the defensive by targeting his base.

[KY_EnviroGuy]

34. China may engineer this right out of Putin's playbook.

Stir up shit on both political sides to create max. turmoil, then apply a little bias against his base for the home run.

Who knows......maybe throw in a little Twitter and Facebook trolling for added measure.

........ ...........

[iluvtennis]

38. This is idiotic plan. You don't do tariffs like this unless you have alternate supply

sources setup for consumers. Has Trump identified the American companies (or companies from other nations) who will backfill the product supplies that will have 25% tariffs. It's a rhetorical question,

[Midnight Writer]

43. He is manipulating the markets. This churning is great for the "savvy" investor like the type that

Hangs at Mar A Lago.

Pretty bad for the long term saver who is just trying to grow his retirement fund, or send his kids to college, or buy a new house.

[joshcryer]

44. This will not bring jobs back.

It will only speed up automation.