The administration did remove roughly 300 product lines — and some individual products — from the list after companies objected. Among the items dropped are smart watches, Bluetooth devices, bike helmets, plastic gloves, high chairs, play pens and certain chemicals. But, in some cases, partial product lines will be taxed while other parts are not. For example, high tech network routers and smart watches share a product line, but under the United States trade representative plan, the routers would be subject to tariffs while watches are not.
“It will be a lot of money coming into the coffers of the United States of America. A lot of money coming in,” Mr. Trump said during remarks at the White House on Monday. He added that the United States cannot tolerate the trade gap between what it exports to China and what it imports from that country.
“We can’t do that anymore,” he said.
Mr. Trump’s decision is a significant escalation of an already serious trade dispute — one with seemingly no end in sight. After months of failed trade talks, top officials from China and the United States were tentatively scheduled to talk later this month in Washington. But it is unclear whether Beijing will agree to come to Washington with the new tariffs set to go into effect.
“We are open to talk if there are serious talks,” Larry Kudlow, the director of the National Economic Council, said in an interview on Monday.
Mr. Trump also indicated he was willing to end the trade war — if China agreed to his demands. “China has had many opportunities to fully address our concerns,” Mr. Trump said. “Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection.”
“The Chinese are livid and drafting their own battle plan — they won’t take this sitting down,” said James Zimmerman, a longtime lawyer in Beijing and the former four-time chairman of the American Chamber of Commerce there.
from Trends A to Z https://ift.tt/2QzGtGh
via IFTTT
0 Comments