US increases tariffs on Chinese goods, China says it will take steps
The USA has moved ahead with increasing tariffs on Chinese goods:
May 10, 2019
WHITE HOUSE — The United States has increased tariffs from 10% to 25% on $200 billion worth of Chinese imports.
China on Friday said it “deeply regrets” the increased tariffs and will take the “necessary countermeasures” without giving any details.
The increases are going into effect amid talks between Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin.
On Thursday the U.S. and Chinese trade negotiators ended the first of two days of talks aimed at saving a trade deal even as President Donald Trump said the new “very heavy tariffs” on Chinese products would go ahead.
The White House said Thursday evening that “Ambassador Lightizer and Secretary Mnuchin met with President Trump to discuss the ongoing trade negotiations with China. The ambassador and secretary then had a working dinner with Vice Premier Liu He and agreed to continue discussions tomorrow morning at USTR.”
Liu He is leading the Chinese negotiating team for the talks, which threatened to collapse after the Trump administration accused Beijing of backtracking.
“We were getting very close to a deal, then they started to renegotiate the deal,” said Trump Thursday in the Roosevelt Room of the White House.
“It was their idea to come back” and resume discussion ahead of the Friday deadline for additional tariffs, the president said.
Trump said he had also received “a beautiful letter” from Xi that expressed a sentiment of “let’s work together.”
Trump told reporters that he happens “to think tariffs for our country are very powerful,” in line with a view he has been expressing that such increased punitive taxes would be good for America’s economy. https://www.voanews.com/a/new-tariffs-on-chinese-products-go-into-effect/4911760.html
Donald Trump sent out the following via Twitter:
Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….
— Donald J. Trump (@realDonaldTrump) May 10, 2019
Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch! In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with “murder!”
— Donald J. Trump (@realDonaldTrump) May 10, 2019
There will be unintended consequences with Donald Trump raising tariffs on China.
China will take steps.
Some designed to hurt the USA.
But most designed to try to help itself.
China will work more closely with Europe on trade matters.
Europe will end up with more leverage, not only with China, but also with the rules of international trade.
How can I be so certain?
The Bible shows that Europe will rise up (Revelation 13:1-10) and dominate trade:
2 … Babylon … 3 For all the nations have drunk of the wine of the wrath of her fornication, the kings of the earth have committed fornication with her, and the merchants of the earth have become rich through the abundance of her luxury. (Revelation 18:2,3)
Donald Trump has also made strong trade statements against Europe.
There is a saying that “the enemy of your enemy is your friend.”
The rhetoric and actions of the Trump Administration are pushing the Europeans and Chinese closer together on trade.
This will have the effect of increasing European influence. China will end up cooperating more with Europe than either the Chinese and Europeans tend to currently think.
The end of the Anglo-American order and dominance of world trade is getting closer.
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