Monday, April 2, 2018
China retaliates against Trump tariffs with levy on US food imports
This article is about how China has implemented tariffs of up to 25% on U.S food imports in response to Trumps tariffs on steel and aluminum. The article suggested that China and the U.S should resolve their issues through negotiation and dialogue because as the world’s two largest economies, they should be cooperating. Although the two have been retaliating against each other, China's tariffs do not cover soybeans, the US’s biggest exports to China, indicating that it does not wish to start a huge trade war. It can be predicted that the U.S and China will continue to retaliate against each other, but for how long and to what extent is unknown.
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7 comments:
It will be interesting to see how China and the U.S move forward. I feel if the U.S provokes China's hand than they will put tariffs on U.S soybeans. However, this will take considerable action on Trump's end.
Although not a large enough deal to indicate that they wanted to start a war. I think this is definitely a hint that if Trump continues down this path they are not afraid to. It will be interesting to see what happens next.
I most certainly agree with you both, because China could potentially make decisions regarding trade that could be detrimental to the U.S, I would not put it past Trump to do something that would further provoke this.
Hopefully, these two nations can resolve this conflict and agree on trade terms. It is interesting that we are learning about the Chinese economy in class now. Maybe understanding China's economic system will help us realize the importance of the cooperation between the US and China, as two of the largest economies in the world.
The governments of both China and the US are on track with retaliatory policies. I hope in the future some sort of mutual trade agreement that can prevent tariffs between the countries take place, because in the long run this is very likely to hurt consumers and producers of both countries.
I think Joelle makes a really good point about the reaction of China. Ultimately I think a trade war is the last thing the two countries want but it is an indication to the US to stop doing what they are doing.
I'm glad to hear that there is progress between these two powers, and I hope that retaliation policies will cease any further conflict because I agree, if this were to go any further consumers and producers from each country would suffer more.
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