Tariff Battle: Where the U.S. and Chinese Moves May Lead
- 6 years ago
Tariff Battle: Where the U.S. and Chinese Moves May Lead
Beijing said that it would impose a 15 percent tariff on goods like fresh fruit, nuts, wine and seamless steel pipes, and
that it was considering a second round of levies, of 25 percent, on other goods, including aluminum.
The Chinese government announced Friday that it planned to impose tariffs on just $3 billion in American
products, including fruit, pork, wine, seamless steel pipes and more than 100 other goods.
By NATALIE KITROEFFMARCH 23, 2018
President Trump pushed forward with a two-pronged trade offensive this week, enacting tariffs on imported aluminum
and steel on Friday, a day after announcing levies on up to $60 billion in Chinese goods.
A good bet, trade experts say, is that Mr. Trump is using the tariffs as a bargaining chip to corral allies into adopting a harder line on China.
While the tariffs are explicitly based on national security — the White House argues
that the nation is vulnerable because it relies too much on foreign steel and aluminum — there are obvious economic reasons for trying to increase domestic production.
For now, the administration has given exemptions from the first set of tariffs to multiple nations, making it clear
that the main point is to curb the influx of cheap Chinese metals.
That’s why the administration initially announced that its steel and aluminum tariffs would apply worldwide.
And the Chinese retaliation for the aluminum and steel tariffs, at least initially, is even milder.
Beijing said that it would impose a 15 percent tariff on goods like fresh fruit, nuts, wine and seamless steel pipes, and
that it was considering a second round of levies, of 25 percent, on other goods, including aluminum.
The Chinese government announced Friday that it planned to impose tariffs on just $3 billion in American
products, including fruit, pork, wine, seamless steel pipes and more than 100 other goods.
By NATALIE KITROEFFMARCH 23, 2018
President Trump pushed forward with a two-pronged trade offensive this week, enacting tariffs on imported aluminum
and steel on Friday, a day after announcing levies on up to $60 billion in Chinese goods.
A good bet, trade experts say, is that Mr. Trump is using the tariffs as a bargaining chip to corral allies into adopting a harder line on China.
While the tariffs are explicitly based on national security — the White House argues
that the nation is vulnerable because it relies too much on foreign steel and aluminum — there are obvious economic reasons for trying to increase domestic production.
For now, the administration has given exemptions from the first set of tariffs to multiple nations, making it clear
that the main point is to curb the influx of cheap Chinese metals.
That’s why the administration initially announced that its steel and aluminum tariffs would apply worldwide.
And the Chinese retaliation for the aluminum and steel tariffs, at least initially, is even milder.