China retaliates in tariff feud, focuses on US tires, rubber

Mae Love
September 22, 2018

Despite the plea, the White House pushed forward with 10 percent tariffs on 200 billion dollars-worth of Chinese products, which will take effect next week.

Mr Bannon added that Trump's strategy is to make the trade war with China "unprecedentedly large" and "unbearably painful" for Beijing.

Chinese billionaire and Alibaba founder Jack Ma said a pledge to create 1 million new jobs in the United States won't happen, thanks to President Donald Trump's tough stance on trade with Beijing. We have rebuilt China.

China plans to reduce the average tariff rate on imports from most of its trading partners as soon as October, Bloomberg News reported on Thursday.

He also noted that the USA leader "will not back down before victory".

"One of us is going to be a hegemony in 25 or 30 years, and it's gonna be them if we go down this path".

"Wall Street made a fortune".

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President Trump's base better get ready for some sticker shock come Monday.

While both the Chinese and USA measures are set to go into effect Monday, Trump previously noted that the initial 10 percent tariffs would rise to 25 percent on January 1, 2019.

Still, the added tariffs will hit consumers, the chains said.

Trump's former chief strategist, who left the administration after a tumultuous stint, said trade had always been at the top of Trump's campaign strategy.

"It's disappointing that, despite the voices of those impacted, the administration continues to advance harmful tariff policies that threaten to weaken the U.S. economy", Matthew Shay, the National Retail Federation's chief executive, said in a statement on Friday.

Of 298,000 metric tons of styrene-butadiene rubber imported by China in 2017, U.S. SBR accounted for about 6.6 percent of the total, according to Commerce.

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