President Donald Trump said on Thursday the United States may eventually force duties on in excess of a half-trillion dollars of Chinese merchandise as the world's two biggest economies rushed toward the beginning of an exchange war.
Trump affirmed that the United States would start gathering levies on $34 billion in Chinese merchandise at 12:01 a.m. Washington D.C. time (0401 GMT) on Friday and cautioned that consequent rounds could see levies on more than $500 billion of merchandise, or generally the aggregate sum that the United States imported from China a year ago.
"You have another 16 (billion dollars) in two weeks, and afterward, as you most likely are aware, we have $200 billion in suppression and after that after the $200 billion, we have $300 billion in cessation. Alright? So we have 50 in addition to 200 or more right around 300," Trump told columnists on board Air Force One.
Trump's remarks seemed to expand the stakes for potential striking back by China. Already, Trump had debilitated up to force extra taxes on products worth $400 billion should China finish on its intends to counter against the underlying U.S. taxes on Chinese products including automobiles, PC circle drives, pump and valve parts and light-transmitting diodes.
U.S. Traditions and Border Protection said in a notice it would start gathering the 25 percent obligations on 818 product offerings distinguished in June by the U.S. Exchange Representative's Office.
The days of cheap Chinese goods may be in their golden age. I'm kinda happy about it. It could become cheaper to produce SOME of it locally. God knows we need a return to industry and jobs over here. An honest job for an honest person. When's the last time anyone around here could say that?
I know in the beginning, it would make things more expensive, but it will spur a few sectors to life. For instance, shops that repair all that Chinese crap will begin to prosper a little more, because people will begin to understand that it would be better to fix what you have than just throw it away. Replacing it will be more costly in the long run with prices rising. A new job is created for a person with repair skills.
Many times, cheaply made things can be fixed way better than they were built with little effort. Drill out the rivets. Replace with screws. I've done this with a few things. It's just one way I can think of.
start making simple things like clothing in American facilities. Why do you need to ship a t-shirt halfway around the world, when there is a person here who can make this at a job that keeps him or her fed?
I'm looking at the items in the picture, and most if not all of that stuff could be made here easily.
I dunno.... I just dunno...