China Strikes Back – Retaliates With $50 Billion Tariffs On US Goods

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Originally appeared at ZeroHedge

Just as China promised, they have responded “immediately” to President Trump’s “very big tariffs” and just unveiled $50 billion in tariffs against US goods including soybeans, light aircraft, orange juice, whiskey and beef, starting July 6th.

China Strikes Back - Retaliates With $50 Billion Tariffs On US Goods

Mirroring the US tariffs scheme, China’s Ministry of Finance is setting a two-tier system with $34bn on July 6th and $16bn more to follow…

On June 15, 2018, the U.S. government issued a list of goods subject to tariffs, which will impose a tariff of 25% on about 50 billion U.S. dollars of goods imported from China, of which about US$34 billion will be goods from July 6, 2018. It began to impose tariffs and began to solicit public opinions on about 16 billion U.S. dollars in tariffs. The U.S. measures violated the relevant rules of the World Trade Organization and it is contrary to the consensus reached in the Sino-U.S. negotiations. It seriously violates our legitimate rights and interests and threatens the interests of our country and people.

According to the “People’s Republic of China Foreign Trade Law,” “The People’s Republic of China Import and Export Tariff Regulations,” and other laws and regulations and the basic principles of international law, the State Council Tariff Commission decided to impose an additional 25% on 659 items of US$50 billion imported goods originating in the United States. Tariffs, including 545 items of approximately US$34 billion in goods, have been subject to additional tariffs since July 6, 2018, and the implementation time of additional tariffs on other commodities has been announced separately.

List 1 here (Chinese only for now)…

List 2 here (Chinese only for now)…

The response from China signaled a rapid escalation of the dispute. China will impose tariffs with “equal scale, equal intensity” on imports from the U.S. and all of the country’s earlier trade commitments are now off the table, the Commerce Ministry said in a statement on its website late Friday.

This is exactly what Goldman Sachs was worried about:

“We expect a minimal effect on growth and consumer price inflation from the tariffs, if implemented, but the announcement raises the odds that additional restrictions will be proposed over coming months.”

Things are about to get a lot more expensive…

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  • Brad Isherwood
    • Joe Dirt

      In the past 10 years China has contributed to 2/3 of the worlds new debt.

      • Brad Isherwood

        China purchases Global assets…
        That’s Leverage.

        After WW 2 Bretton Woods agreement, …..IMF/World Bank,
        You had Primacy leverage controlling Nations GDP.
        Germany and Japan + South Korea became US Foreign acquisition servants.

        China of Xi is not Owned Be’atch of the system.
        Russia and China have a real Unique Independence… from the Atlanticist monopoly.

        Russia and China did not create the Global debt extortion system, ,
        They however work that. …and seed towards a Future… independent of the over extended western gambit.

        • Joe Dirt

          You probably should read up on China’s Ecomonics a little more…as well as Russian’s…seeing you have access to the internet, you should also Google the definition of monopoly. Your comment made no sense and now I’m forced to block you.

  • Real Anti-Racist Action

    This is good news. Anything that disrupts the Zionist grip on the single world economy is very good news. Time to get back to nationalism and get rid of the globalist-Zionist-agenda.
    Israeli Politician Announces That Jews are the Master Race:
    Following yesterday’s revelation that the kike scientist and hoax master Albert Einstein was a virulent chink-basher, we today have the shocking revelation that Jews believe they are the master race.

    A Likud MP just said it, aloud in public.

    RT:

    The ‘Jewish race’ is the smartest in the world and possesses the highest human capital, so Israelis ought to be skeptical about the current corruption probes into Israel’s PM Benjamin Netanyahu, a Likud party lawmaker has claimed.

    “I can tell you something very basic,” MK Miki Zohar said, during a debate on Radio 103FM on Wednesday, as cited by the Times of Israel: “You can’t fool the Jews, no matter what the media writes. The public in Israel is a public that belongs to the Jewish race, and the entire Jewish race is the highest human capital, the smartest, the most comprehending.”

    Citing opinion polls showing widespread support for Netanyahu, Zohar said that statistics clearly show that the “Jewish race” is too smart to be fooled by extensive media coverage of the multiple corruption probes. The somewhat clumsy attempt to defend the Israeli PM immediately landed the ruling party member in hot water.

    The loud statement about Jewish supremacy struck a nerve with Ahmad Tibi, an Arab-Muslim Israeli politician and leader of the Arab Movement for Change party, who, on Twitter, accused his Israeli counterpart of devising his own racial theory. “An elected official in ‘the Jewish state’ presents: race theory,” he tweeted, along with a portrait of Zohar.

    View image on Twitter
    It isn’t his own racial theory. It is the racial theory that all Jews have had for as long as they’ve existed.

    It’s the basis for their entire religion, this idea that they are “God’s chosen people” destined to rule over the “goyim,” a word that means cattle which they use to refer to all non-Jews.

    The fact that he accidentally dropped that little tidbit in the middle of a rant defending Netanyahu is not really that weird. This underlines all of their thinking, the way they engage the entire world in all of their strange acts.

    They will say it in “nicer” ways even in America. When people ask why they are so vastly overrepresented in Ivy League universities, in banking, in the media, in Hollywood, in the music industry or just simply in the wealthy elite, they will claim it is because they have a higher IQ or just say “we’re very talented.” But of course the underlying sentiment is that they are a superior race.
    Jews claiming to be the master race is not really even news.

    It’s the defining characteristic of Jewish identity.

    “Jews are the real racists” is not a meme that I particularly like, because it implies racism is a bad thing. But it is legit true that they are the most racist people on earth. They are the only people with a religion that states explicitly that their god made them to rule over all other peoples.

    Well, maybe the Nation of Islam sort of says that, kind of. It at least says that white people were created by a black scientist in an experiment gone wrong.

    SOURCE:
    https://dailystormer.name/israeli-politician-announces-that-jews-are-the-master-race/

    • ashley

      your last brain cell must be very lonely.

      • Siegfried

        Be happy that your HASBARA has 2 of them. One is by Avigdor Lieberman, your financier

    • Feudalism Victory

      TRUMP 2020

      • Siegfried

        Yeah.. like Herbert BUSH-Sr and “his second term” ;)

  • goingbrokes

    Behind the scenes this is machinated by the International bankers, we are facing another manufactured Global Financial Crisis, where the rich will be able to buy more stuff for the bottom dollar and nations will end up with even less assets and more debt. Anyone with an oversized mortgage will be ruined, and any nation with a massive debt will sink deeper into debt. Marginal industries will be destroyed. We need to wake up, the fiat money and debt system is killing everything good on this planet.

    • Joe Dirt

      as long as people trust the exchange of goods and services we good.

    • Vitex

      Well, that’s what you expect from Satanists. Not money, but debt, not love but ownership, not sex but sodomy, not gender but trans-gender, not natural but genetically-modified, not real but fake.

  • Siegfried

    Try with 100 Billions… Maybe the White-House big-mouth, egomaniac narcissist ballooned frog wakes-up from his day-dreaming

  • Freespirit

    Trump now has the excuse to allow prices for goods in Americans to rise,substantially, to cover for a collapsing dollar, increasing Military expenditures or more simply referred-to as INFLATION.

    In liars words……

    China caused inflation just like Russia causes the wars !!!!

    Americans will fall for ALL that B.S., as they always do

  • Joe

    China is chicken ….should double not equal