Escalations in its trade dispute with the U.S. not only could dent China’s economy but also negatively impact its credit standing, according to ratings agencies. China’s faces a weakening economy and a high-stakes tariff battle with the U.S.Should the impasse linger on, the damages could become greater and start having some deeper impacts. Read more
Lists of products imported from China to U.S. that are subject to high tariffs. A 4th list, covering about $300 billion of U.S. imports from China was announced on May …, after China’s last-minute refusal of an agreement negotiated over several months.
The U.S. Trade Representative is taking the necessary steps to impose tariffs on the remaining $300 billions worth of Chinese goods coming into the U.S. The USTR plans to hold a public hearing on June 17, followed by at least a week of discussions. This gives the White House a window of time leading up to the G-20 Summit, Jun 28-29 to decide. Read more
In accordance with the direction of the President, the USTR has determined to modify the action being taken in this Section 301 investigation by increasing the rate of additional duty from 10 percent to 25 percent, effective May 10, 2019, for the products of China covered by the September 2018 action in this investigation.. Read more
WASHINGTON/BEIJING (Reuters) – The diplomatic cable from Beijing arrived in Washington late on Friday night, May 3, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks. Read more
EU OFFICIAL: WTO ‘NO LONGER RELEVANT’ IF REFORMS FAIL: A top priority for the next European Commission will be pushing the United States and China on reforming the World Trade Organization so the body remains relevant, the Commission’s trade director-general said Tuesday.His comments referred particularly to China, which he said must accept stricter multilateral rules on industrial subsidies, state-owned enterprises and forced technology transfers, “even if it will be painful for them.” Read more
WASHINGTON/BEIJING — Despite being steps away from finalizing an agreement to end the trade war, negotiations between the U.S. and China have come to a screeching halt, largely over Chinese state subsidies to its core industries. Read more
President Donald Trump heightened tensions in the U.S.-China trade war by vowing Sunday on Twitter to impose a 25 percent tariff on essentially all Chinese goods. On Friday, May 10, a 10% tariff on roughly $200 billion worth of Chinese goods will increase to 25%, USTR Lighthizer said. In addition, a 25% tariff on all the rest of what the U.S. imports from China — about $325 billion in products — could also be imposed after a rule-making and comment period, which typically takes several months. Senate Democratic Leader tells Trump to “hang tough” with China. Read more