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 archfeld on Friday March 23 2018, @09:28PM
The bottom line is will the consumers still buy foreign goods ? A tariff doesn't matter if the end user still purchases the foreign product. Honestly if you were to buy a new car is the US you'd be doing an American worker more good buying a Toyota than a Ford. The Toyota, though a foreign company is produced in the US by US workers, while the Ford is likely produced in Mexico or China. Neither company is paying taxes in the US and while the Toyota profit may go overseas the salary is staying here in the US. To give Ford some credit most of the cars they are producing in China are for the Chinese market.
For the NSA : Explosives, guns, assassination, conspiracy, primers, detonators, initiators, main charge, nuclear charge