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US Walks Back On Trade Talk Commitments. China Goes Forward With Response To Tariff Hike

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US Walks Back On Trade Talk Commitments. China Goes Forward With Response To Tariff Hike

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On May 13th, China announced its retaliation to the May 10th US hike in tariffs on $200 billion of Chinese imports.

China had earlier imposed additional tariffs on $60 billion worth of U.S. imports, the rates of additional tariffs on some of the products will now be increased to 25%, 20%, and 10%, according to a statement by the Customs Tariff Commission of the State Council.

US Walks Back On Trade Talk Commitments. China Goes Forward With Response To Tariff Hike

Click to see full-size image

The 25% tariffs on $200 billion worth of Chinese goods came into effect on May 13th, and Trump praised them on Twitter. He warned China against a retaliation, because it would only get worse.

Trump on May 14th, claimed that “we can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business, but the last time we were close they wanted to renegotiate the deal. No way! We are in a much better position now than any deal we could have made. Will be taking in so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the “piggy bank” that everyone wants to raid and take advantage of. NO MORE!”

Then he tweeted that the US would strike a deal with China “when the time is right,” praising his friendship with Chinese President Xi Jinping being “unlimited.”

In remarks on May 14th, Chinese Foreign Ministry spokesperson Gen Shuang confirmed the Chinese retaliation and said that raising tariffs would, ultimately, solve nothing.

“The US threatened to raise tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent, triggering strong international responses and fluctuations in financial markets. China told the world that it was not the first time the US made such threat. China’s position was clear, and the US was well aware of it. We called on the US to change its behavior, meet the Chinese side half way so that we could make a deal beneficial to both countries. The international community highly commended China for the cool-headed and constructive attitude.”

He further said that China always sought to deal with the US and others calmly, while the US appeared impulsive.

“In dealing with a capricious US and its maximum pressures, China has been calm all along. We advise the US to listen to the call of the international community and people from various sectors, carefully weigh its gains and losses, and get back on the right track as soon as possible. On the basis of mutual respect, we advise the US to make concerted efforts with China for an agreement beneficial to both sides.”

To a question, whether it was true what US President Donald Trump said that the negotiations were 95% there when China walked back on some of its commitments, Gen Shuang said that it wasn’t China, but rather the US who walked back.

“First, it is only natural to have differences in a negotiation because, by definition, it is a process of discussions. The differences we have are exactly the reason why we are continuing the talks. Now with the talks still going on and a deal yet to be concluded, how can China be blamed for breaking commitments?

Second, if you look at previous media coverage on the past 11 rounds of trade talks, you will see clearly which side has been flip-flopping all along. In May last year, China and the US reached consensus on trade and issued a joint statement in Washington, D.C. But just a few days after that, the US abandoned our agreement. In December last year, the two sides reached consensus on the value of China’s purchases from the US, but in the following talks the US wantonly rejected the agreement and asked for more. It is never China that backtracks on and breaks its commitments.

Third, it takes the joint efforts from both sides to make a deal. China honors promises and has demonstrated the utmost sincerity and good will in the talks. In the spirit of mutual respect, equality and good faith, we hope the US can meet us half way and strive for an agreement that benefits both sides.”

On the possibility that the US may introduce tariffs on a further $300 billion of Chinese imports, Gen Shuang said that the Trump administration should not underestimate “China’s determination and will to safeguard its rights and interests. What happened in the past has proved a simple fact: China doesn’t want a trade war, but we are not afraid of fighting one. If someone brings the war to our doorstep, we will fight to the end.”

Despite ordering the US Trade department to ” begin the process of raising tariffs on essentially all remaining imports from China,” he also said that the final decision on whether to impose tariffs hasn’t been yet made.

Trump plans to meet Chinese President Xi Jinping at the end of June at a G20 meeting in Japan. He said that “maybe something will happen. We’re going to be meeting, as you know, at the G20 in Japan and that’ll be, I think, probably a very fruitful meeting.”

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  • Rob

    Well done China. Trump lost war against China. No success for Trump.

    • Justin

      lol u got it all wrong!
      USA imports 600 billion from China
      China imports 100 billion from USA

      600 billion with 25% tariffs
      100 Billion with 25% tariffs

      US wins!
      Then US companies move back to USA
      More jobs in USA and less jobs in china!

      Maybe you need a calculator or maybe u need to read a website with FACTS!
      U can see above that china can only tax less product because they import less1
      USA can tax 6 times more!

      Do u think it is fair that for 30 years China had 10% tariffs on US goods and US had no Tariffs on chinese goods?
      U think its fair when Chinese took 60% of US manufacturing?

      China is holding out until 2020 election because they OWN the Democratic party!
      But before that election occurs, China will have sanctions placed on them!
      WHY?
      Theft of intellectual property
      Rigging US elections!

      = bye bye china! bye be!
      also = bye bye zionist globalists

      u should be celebrating!

      • LaRata

        Production Cost and Job pays in China are less than the American…

        • Justin

          Production cost depends on oil prices!
          USA has worlds second most oil now and worlds most gas! (behind russia)
          What happens if Straight of hormuz is blocked?
          Only russia and America win energy markets and oil prices become very high!
          If that happens russia and america profit, iran loses, saudi loses and China loses!

          Plus usa puts more tariffs on china and maybe sanctions too!

          Also usa can win in venzueala!
          USA can surround Venez completely with ships and advanced weapons!
          Can use colombian army to attack!
          Can sew more discord amongst population
          can starve the people and make them force Maduro out!
          Can kill their power! bring the whole nation to a halt!
          How can china fly into Venez if venez airports are destroyed or blocked?
          Now china must use ships to go into panama canal?
          This takes time!
          Can aircraft carriers go through this canal? NO!
          How does China get to venez?

          Venez has the most oil reserves in the world!
          China and russia cannot win that war!
          impossible! Venez too far away and so close to the USA!

          American ships are all over the world! Taiwan, phillipines, japan, south korea, Malaysia, guam. China is surrounded! Even if they can pass through this area, how do they get close to panama? Even if the get t panama, how do they get big ships through the canal?
          if the get through canal, they can be soo close to the USA!

          its game over!

          u need to be more realistic!

    • Justin
  • Hasbara Hunter

    The U.S. does not Trade….the U.S. just Kills the whole Population and steals Their Land & “Resources”…They are Dangerous Psychopathic Parasites….

    • Justin

      OKay, i follow this information all the time so i know what i am talking about here!
      China is WRONG!
      Ready to learn something?
      Ask yourself, who imports more to the other country? Who exports more?
      Easy to answer!
      China exports MORE to the USA
      USA exports much less!
      China exports 600 Billion a year to the USA
      USA exports 100 Billion to China
      For 30 years thanks to the World Trade Organisation, China was able to become a world power Thanks to Bill Clinton!
      China had no tariffs on its exports to the USA while the Chinese had tariffs on US products (FACT)
      Do you see why the USA can put more tarriffs on more imports (as illustrated above) and China does less! Do u think the Chinese tax less imports because they are being nice? O its because they only import 100 Billion worth

      Who wins?

      USA tarriffs on china means US companies go back to the USA! China loses money
      Chinese tarriffs on US goods means 6 times less damage to the USA!
      Who wins?
      600 billion with 25% tax
      OR
      100 Billion with 25% tax?

      USA wins!
      PLUS US companies move back to the USA as it is no longer cheaper to produce in China because America is the biggest Consumer market in the world!

      Keep in mind that the USA allowed China into the WTO!
      Keep in mind that China has been stealing tech all these years!
      Keep in mind China has been doing cyber crimes on the US for years!
      Keep in mind china has corrupted and spied on US politicians! (e. Diane Feinstine)

      So if China was taxing US imports for 30 years but the USA was never taxing China’s, who is the asshole?
      China took in so many US companies because the Globalists wanted cheaper production of their goods! So if you support China u support Globalists like George Soros! Globalists ARE…… Zionist JEWS!

      So before u open your mouth and suck China’s dick, maybe u should consider looking up at the actual person your blowing! Its a hook nosed filthy Jew!

      KNOW THY ENEMY!

      • Hasbara Hunter

        Ehmmm how about the $22.000.000.000.000 National Debt?
        China got the NWO Social Credit System….

        • Justin

          the 22 trillion debt is going to be paid off when Venezuala is invaded!
          USA will block the straight of Hormuz! blame it on Iran!
          Oil prices will rise! USA now exports oil!
          Saudi and Iran exports go down and china depends on russia!
          Oil becomes very expensive, china manufacturing becomes expensive, USA uses its own oil and exports oil and gas at all time high prices!

          End the Fed! (next thing they can do if audited)

          When petro dollar switches onto IMF SDR’s USA will have a much bigger piece of the SDR pie!
          Thus maintain its domination of the new global currency (research SDR’s)

          China is screwed!

          USA can Sanction China and ask other nations to do the same! Sanctions can be made because of Chinese collusion in election! (about to be exposed)

          • Hasbara Hunter

            I personally do not think any Nation in this World is very impressed by Loudmouthed U.S. Rhetoric any longer…they are Psychopathic Parasites…Preying on Weak Nations…Let Them bring on their WWIII….

    • Justin
  • verner

    trump certainly has a number of balls in the air at the same time and he seems to drop them rather than catching them on the way down. typical american hubris coupled with a rather pronounced incompetence.

  • Sinbad2

    The Chinese media is calling for a citizens boycott of American goods, which will work in China.
    The US will suffer inflation caused by the tariffs, and also a reduction in GDP caused by Chinese consumers shunning American products, stagflation.

    • Justin

      GOD I HOPE THEY DO THAT SINBAD!
      They should ban all US goods!

      This will mean China goes down the tubes even faster!
      PLEASE do that!

      China imports from the USA 100 billion per year
      USA imports 600 billion per year

      who wins?

      Easy to answer!
      Being the biggest Consumer market, where is it now cheaper to produce? The USA!
      More jobs where? The USA
      Less jobs where? China

      Also if the US proves (and i know they are) that China has been stealing intellectual property plus colluded to rig the election in 2016 (which they know they did) the USA with its EU and NATO friends are going to sanction China!

      So it looks like we are going back to JVC Televisions Sinbad! Back to Harley Davidsons!
      But dont worry, they wont be made here, they will be made in vietnam and Thailand!
      This makes Vietnam and thailand much stronger military! And they can police the South China sea!

      WINNING!

      Bye bye china…… bye!
      Back to peasant farming!

    • Justin
  • klove and light

    typical for trump, and the People that order him around in the back…..Zionist jews….those are his masters from day 1 of his Business dealings……. goes all the way back to the days of Chief of organized crime in the USA…Meyer Lansky……..Carl Icahn was even his “Special advisor to the presdient for regulatory Reform” 2016 and 2017……….its all Zionist jewish from day 1…….and thats the reason why he cannot make his tax Returns public.

    22.november 1963….. the date when the last man trying to battle These Evil Folks got murdered….his brother didnt even have a Chance to get started…so to his son.

    This is a list of the upper Echelon of /justice Department Folks, that served in Robert Kennedys newly created Organized crime strike force..this section was run OUTSIDE the FBI….by Walter Sheridan,former FBI,and Chief of counter intelligance division,special opeartions division,and NSA.

    in the next 3 months after the assasination……………………………… lololol……this happened….

    Henry peterson,of the organized crime and raketerring division JOINED Max Jacobs Emprise Corporation(Money laundering for organzied crime)
    His boss William Hundley and his Deputy Robert peloquin of the criminal division, left the justice Department, and got a seat on the board of directors of International Intelligence(Intertel)…a Company created by Meyer Lansky for assasinations and Money laundering
    Stanley Mills, head of Kennedys anti trust division became General Counsel for Max Jacobs Sportssystems
    William O. bittman, prosecuter for the justice Department against Jimmy hoffa, got a seat on the board of directors at Sportsystems
    Daniel Holloman and Thomas Kennedy of the organized crime division joined the same board.
    Horace Webb of the justice Departments public informational Services division then became (lol im cracking up writing this..so fucking obvious) public Relations Chief for Sportssystems.
    Thomas J. Mekeon, member of the organized crime strike force became General counsel and vice president of Intertel (International Intelligence)

    i could go on and on and on………………its pure Evil…… in the dark……..while jewish Hollywood and the motherfucker bob deniro tell Folks that italians run the Show……Nothing could be further from the truth….. its jewish from day1…..the italians are junior Partners at street Level…….and giving the orders to the jew pricks is the british Crown.

    ps. Edward Snowden released with wikileaks, cables of the justice Department and the NSA, which and i ll just Quote from it

    ” Organized crime has globalized and turned into one of the world’s foremost economic and armed powers.It is clearly centered in and around Israel”

    Maybe just a Little hint too……most Folks remember These 2 names John Gotti and Sammy gravano.Well John didnt Play ball, and decided to get into THEIR market of drugs…..his underboss ratted him out….and lived happily in Arizona…in the witness protection program…..LOL… funny that gravano was able to create the biggest extasy ring in the USA..while in the witness protection program….the extasy came from ISRAEL…….

  • Lazy Gamer

    What is the percentage contribution in GNP of American companies in China? Wouldnt other countries be able to absorb excess supply? How low can China go in accepting other foreign currencies? For China to become consumption based, its surroundings must become export based. However, i feel that the Chinese may be one of the biggest, miserly savers on the planet.

    • Sinbad2

      China’s economy today is driven by domestic consumption. In 11 of the 16 quarters since 2015, consumption has contributed more than 60% of GDP growth. In addition to becoming the world’s biggest market for online retail, the country now represents more than 30% of global market in luxury goods, automotive, consumer appliances, mobile phones, and spirits.

      Interestingly both the Chinese and Indians save in gold, probably because history has taught them not to trust paper money?

  • RichardD
  • RichardD
  • RichardD
    • Sinbad2

      Your chart only shows Government debt, and as Iceland found out at the last crash, Governments will be held responsible for private debt. My country Oz has about 40% government debt but over 200% private debt, the US also has about 200%.
      There is a lot of debt out there, and no way can it be repaid.

  • RichardD
  • RichardD
  • Sinbad2

    Trump is now impugning the honour of China by suggesting they broke agreed upon parts of the trade deal. This is an extremely stupid move, even if it was true which I doubt.
    It will now become a matter of honour for China to totally fuck America/Trump, regardless of the cost to China.

    I think that China will crash its own economy, and blame the US for the crash.
    When China crashes, the whole world will follow suit.

    When Chinese demand drops, they won’t need as many minerals, and the Australian economy will collapse. Some may have heard of the Australian housing bubble, when it bursts the Australian banks will be hit, and they borrow most of their money from American banks.

    A declining China will hurt Germany because China buys lots of cars and machines from China, and without a prosperous Germany the EU will also get into trouble.
    The US has only stayed out of recession since 2009, because of borrowed money, if China Japan and the EU get into difficulty, they won’t be able to lend to the US, so the US will have to print money like never before.

    When the dust finally settles, only countries that back their currencies with gold will be worth anything, and guess who has gold, and who doesn’t?