{"id":36978,"date":"2018-08-23T07:48:32","date_gmt":"2018-08-23T12:48:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36978"},"modified":"2018-08-23T07:48:32","modified_gmt":"2018-08-23T12:48:32","slug":"trade-war-escalates-as-us-china-slap-each-other-with-fresh-16-bn-in-tariffs","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36978","title":{"rendered":"Trade War Escalates As US, China Slap Each Other With Fresh $16 BN In Tariffs"},"content":{"rendered":"
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Trade War Escalates As US, China Slap Each Other With Fresh $16 BN In Tariffs<\/span><\/a><\/h3>\n<\/div>\n
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Just after midnight on Thursday EDT, the United States and China escalated their acrimonious trade war implementing punitive 25% tariffs on $16 billion worth of each other\u2019s goods, even as mid-level officials from both sides resumed talks in Washington.<\/p>\n

China\u2019s Commerce Ministry said Washington was \u201cremaining obstinate\u201d by implementing the latest tariffs, which kicked-in on both sides as scheduled at 12:01 p.m. in Beijing (0401 GMT). “China resolutely opposes this, and will continue to take necessary countermeasures,\u201d it said in a brief statement <\/a>on its website, adding that Beijing will file a complaint over the latest tariffs with the World Trade Organisation (WTO).<\/p>\n

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The U.S. will collect an additional 25 percent in duties on Chinese imports ranging from motorcycles to steam turbines and railway cars; the Chinese retaliation will see a similarly sized tax on items including coal, medical instruments, waste products, cars and buses, Bloomberg<\/a>reports.<\/p>\n

Washington\u2019s latest tariffs apply to 279 product categories including semiconductors, plastics, chemicals and railway equipment that the Office of the U.S. Trade Representative has said benefit from Beijing\u2019s \u201cMade in China 2025\u201d industrial plan to make China competitive in high-tech industries.<\/p>\n

China\u2019s list of 333 U.S. product categories hit with duties includes coal, copper scrap, fuel, steel products, buses and medical equipment.<\/p>\n

The world\u2019s two largest economies have now slapped tit-for-tat tariffs on a combined $100 billion of products since early July, with more in the pipeline<\/strong>, adding to risks to global economic growth and underscoring the Fed’s concerns that trade war could adversely impact US and global growth and slowdown the Fed’s tightening cycle.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Trade War Escalates As US, China Slap Each Other With Fresh $16 BN In Tariffs Just after midnight on Thursday EDT, the United States and China escalated their acrimonious trade war implementing punitive 25% tariffs on $16 billion worth of each other\u2019s goods, even as mid-level officials from both sides resumed talks in Washington. China\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,9937,805,3222,827,4318],"class_list":["post-36978","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-tariffs","tag-trade","tag-trade-war","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36978"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36978\/revisions"}],"predecessor-version":[{"id":36979,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36978\/revisions\/36979"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}