SoylentNews is people
SoylentNews
China has increased tariffs by up to 25 percent on 128 U.S. products, from frozen pork and wine to certain fruits and nuts, escalating a dispute between the world's biggest economies in response to U.S. duties on imports of aluminum and steel.
The tariffs, which take effect on Monday, were announced late on Sunday by China's finance ministry and matched a list of possible tariffs on up to $3 billion in U.S. goods published by China on March 23.
Soon after the announcement, an editorial in the widely read Global Times newspaper warned that if the United States had thought China would not retaliate or would only take symbolic countermeasures, it could "say goodbye to that delusion".
"Even though China and the U.S. have not publicly said they are in a trade war, the sparks of such a war have already started to fly," the newspaper said.
The Ministry of Commerce said it was suspending its obligations to the World Trade Organization (WTO) to reduce tariffs on 120 U.S. goods, including fruit and ethanol. The tariffs on those products will be raised by an extra 15 percent.
Eight other products, including pork and scrap aluminum, would now be subject to additional tariffs of 25 percent, it said, with the measures effective starting April 2.
(Score: 2) by DeathMonkey on Tuesday April 03 2018, @06:18PM (3 children)
They tried to buy steelworker votes in PA. That failed, and now we're seeing the easily-predicted consequences.
(Score: 3, Interesting) by JoeMerchant on Tuesday April 03 2018, @09:23PM (2 children)
I'm thinking there's a bigger game afoot, and all the "Trade War!!!" "Satan Missile Tests!!!!!" is keeping something rather important off the front page.
🌻🌻 [google.com]
(Score: 2) by Gaaark on Wednesday April 04 2018, @11:50AM (1 child)
Would. Not. Be. Surprised.
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 2) by JoeMerchant on Wednesday April 04 2018, @01:09PM
I'm sure there are bigger games afoot, but Rick Scott just put some kink in Florida's freedom of beach access (yes, yes, it's full of spin, but there's some buddy of the Scott family who just got all the annoying rabble out of their ocean views...)
🌻🌻 [google.com]