China proposed retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, as a senior Chinese diplomat cast doubt on prospects of talks with Washington to solve their bitter trade conflict. The Trump administration tightened pressure for trade concessions from Beijing this week by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports. China vowed to retaliate while also urging Washington to act rationally and return to talks to resolve the dispute. The United States and China implemented tariffs on $34 billion worth of each others' goods in July. Washington is expected to soon implement tariffs on an additional $16 billion of Chinese goods, which China has already announced it will match immediately. China has now either imposed or proposed tariffs on $110 billion of U.S. goods, representing the vast majority of China's annual imports of American products. Last year, China imported about $130 … [Read more...] about China plans tariffs on $60 billion of U.S. goods in latest trade salvo
U s goods returned
By The Canadian Press Mon., June 4, 2018 MONTREAL—The aluminum industry and politicians from Canada and Quebec are meeting Monday to discuss challenges facing the sector, including U.S. tariffs against Canada and other global suppliers. The two-day event started Sunday with a discussion about free and fair trade by former Quebec premier Jean Charest and the heads of several aluminum producers. The sessions today will focus on government policy dealing with global overcapacity along with the support of free and fair trade. International Trade Minister Francois-Philippe Champagne and Quebec Development Minister Dominique Anglade will participate. The summit comes days after the United States moved to impose import duties on steel and aluminum Article Continued Below U.S. President Donald Trump exempted Canada, Mexico and the European Union when he imposed 25 per cent import duties on steel and 10 per cent on aluminum in early March. However, those exemptions … [Read more...] about Canadian aluminum industry meeting to discuss challenge of U.S. tariffs
By Tonda MacCharles Ottawa Bureau Wed., May 30, 2018 OTTAWA—The Canadian government is preparing options including trade retaliation against the United States as high-level talks to resolve a NAFTA logjam and a looming American threat of tariffs against Canadian steel and aluminum imports stall, the Star has learned. Publicly, the Canadian government is stopping short of an outright threat of trade retaliation in the face of Friday’s deadline when Canada’s exemption from import tariffs — 25 per cent on steel, 10 per cent on aluminum — expires. Behind the scenes, the Canadian government is preparing “a whole series of options that we can pursue if they do that” which “of course” includes trade retaliation, a senior government official told The Star. “Retaliation is one of our options.” But the official suggested the U.S. government has exempted Canada from trade tariffs at the last minute … [Read more...] about Ottawa readying its options as NAFTA and tariff talks stall with U.S.
By Jeremy Herron Bloomberg Sarah Ponczek Wed., April 4, 2018 Fears of a trade war between the world’s two largest economies returned to haunt markets on Wednesday, mauling U.S. stocks and sending investors into haven assets from Treasuries to gold. The S&P 500 Index tumbled through its average price for the past 200 days, with all 11 sectors lower after China said it would levy 25 per cent tariffs on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft. Boeing lost almost 5 per cent and semiconductor shares fell nearly 3 per cent. The Cboe Volatility Index jumped to 23.55, almost double its level for the past year. The Dow Jones industrial average was down 392.89 points to 23,640.47. “Markets don’t like uncertainty, and this back and forth with what the U.S. is doing with tariffs and targeting specifically Chinese products and Chinese trade relationships and policies, they’re obviously not good,” … [Read more...] about U.S. stocks tumble as fears of an all-out trade war loom after China retaliates with tariffs
By The Associated Press Thu., March 22, 2018 BEIJING—China announced a list of U.S. goods including pork, apples and steel pipe it said Friday may be hit with higher import duties in response to U.S. President Donald Trump’s tariff hike on steel and aluminum. The Commerce Ministry called on Washington to negotiate a settlement as soon as possible but set no deadline. A ministry statement said the higher U.S. tariffs “seriously undermine” the global trading system. Read more: Trump plans to slap China with $50 billion in new tariffs and investment restrictions on Thursday Article Continued Below “The Chinese side urges the U.S. side to resolve the concerns of the Chinese side as soon as possible,” the ministry said. It appealed for dialogue “to avoid damage to overall Chinese-U.S. co-operation.” Goods targeted for possible higher Chinese tariffs include wine, apples and ethanol, which would hit agricultural areas … [Read more...] about China says it may hike tariffs on U.S. goods in trade dispute