Tariffs to take effect Friday could impact KC companies

Tariffs to take effect Friday could impact KC companies

Below is a chart we created from the U.S.

"President Trump's tweet on the prospect for 25 percent tariffs on the $200 [billion] of goods and the possibility of 25 percent tariffs on Chinese goods not yet subject to tariff reignited fears of trade escalation", UBS analysts said in a client note.

"We're moving backwards instead of forwards, and in the president's view that's not acceptable", US President Donald Trump's most senior trade adviser, Robert Lighthizer, told journalists on Monday. However, Trump's team says that the Chinese have reneged on commitments made during the negotiations.

The Shanghai Composite Index closed up 0.7 per cent amid signs that talks between the world's two largest economies hadn't fallen apart, even as stocks in Europe dropped and USA equity-index futures were lower.

The US and China have raised tariffs on tens of billions of dollars of each other's goods in their dispute over US complaints about Chinese technology ambitions.

"They were trying to go back on language that had been previously negotiated, very clear language, that had the potential of changing the deal dramatically", Mnuchin said.

But Trump also threatened to impose a 25 per cent tariff on another £250billion of goods from China which are now not subject to punishing duties.

The two countries are engaged in high-stakes commercial combat over China's aggressive push to establish Chinese companies as world leaders in cutting-edge fields such as robotics and electric vehicles.

As U.S. trade talks with China drag on, President Donald Trump falsely claimed that the U.S. has "never taken in 10 cents from China" in tariffs, but "now we're taking in billions and billions of dollars".

The Trump administration has imposed 10 percent tariffs on $200 billion in Chinese imports and 25 percent tariffs on another $50 billion. China responded with tariffs on $110 billion of USA goods. The trade war with the United States has hurt Chinese exporters and eroded business and consumer confidence.

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No details of the talks have been released.

Chinese Vice Premier Liu He is expected to be in Washington this Thursday and Friday for further talks.

The announcement suggests President Xi Jinping's government is putting its desire to end a conflict that has battered Chinese exporters ahead of the political need to look tough in the face of US pressure. Instead, it suggested that Washington ought to work with Beijing to sort out the issues. "They're going to get hammered", said.

It is unclear if Trump will follow through on the threat.

Xi is "adamant about party-state control over major sectors of the economy", Lam said.

China might respond by discreetly giving in on some key points. But none of the moves directly addresses American complaints. The American president accused Beijing of backtracking on commitments made in the rapid-fire negotiations. It doesn't look like the administration is using tariffs to extract concessions, but rather that Trump wants them to be a permanent part of trade relationship among the three North American neighbors. It would be hard to overcome this setback and reach agreement on other sticking points, such as subsidies and cloud-computing access, in just two days of talks, the person said.

"And as you said, it's an attempt by the Chinese to get these trade talks back on track".

"He snapped his fingers and rattled the market", Sheng Liugang, the director of the trade and development research program at the Chinese University of Hong Kong, told The South China Morning Post. The Chinese economy is decelerating.

"We have a huge Christmas business", said Rutherford.

Both countries have an incentive to reach a deal. A successful trade deal would be good for the US economy. "China won't shun problems and is honest about continuing talks", he said. "We're optimistic that an agreement can be mutually beneficial". "Is it just a negotiating threat, or is this real?"

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