SoylentNews is people
SoylentNews
President Trump has signed a presidential memorandum directing the U.S. Trade Representative Robert Lighthizer to draw up a list of Chinese products on which tariffs could be imposed. The list will be made public in 15 days, and tariffs will take effect after a 60-day comment period:
The US plans to impose tariffs on up to $60bn (£42.5bn) in Chinese goods and limit the country's investment in the US in retaliation for years of alleged intellectual property theft.
The White House said the actions were necessary to counter unfair competition from China's state-led economy. It said years of talks had failed to produce change. China said it was ready to retaliate with "necessary measures". Beijing also said it would "fight to the end" in any trade war with the US.
US stock markets closed lower on Thursday, as investors responded to the announcement. [...] The White House said it has a list of more than 1,000 products that could be targeted by tariffs of 25%. Businesses will have the opportunity to comment before the final list goes into effect.
Reuters portrays the action as "far removed from threats that could have ignited a global trade war". Bloomberg notes that many industry trade groups and companies are opposing the tariffs.
Related: US Government Puts Tariffs on Imported Solar Cells, Solar Modules, and Washing Machines
Major US Solar Company Blames Job Cuts On Trump's Solar Import Tariff
U.S. Steel and Aluminum Imports to Face New Tariffs
(Score: 2) by c0lo on Friday March 23 2018, @01:12PM (1 child)
This decision is hard to take by someone who may want to buy American but can't afford it.
And some put at least 13% of American households in this category [wikipedia.org]. With a sudden jump in the cost of living, the proportion may grow quite higher as the money are sucked by the 0.1%-ers.
Unless you are part of the 0.1%ers, the "we" pronoun you use is pointless - you have no power of decision in this concern.
Even Trump barely has decision power, he has limited influencing power at best - proof: he took a $1T+ hit into the federal budget over 10 years to attract investment in US.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 1, Insightful) by Anonymous Coward on Friday March 23 2018, @03:25PM
I remember back in the day a lot of cheap shit was made in the more backward parts of the US. The poor people that worked there could afford to buy their product at their local Kmart. Back then those stores competed with how much of there wares was made in the USA.