LNG macro analysis, page-803

Trump to impose another $200 billion in tariffs on Chinese goods

Tax will take effect next week, rise from 10% to 25% by year’s end

WASHINGTON — The Trump administration will impose tariffs on about $200 billion in Chinese goods as part of its campaign to pressure Beijing to change its commercial practices, it said Monday, escalating trade tensions between the world’s two largest economies.

The 10% tax on Chinese imports will take effect on Sept. 24 and will rise to 25% at the end of the year, according to administration officials. The tariffs will affect thousands of goods ranging from luggage to seafood, extending the impact of Trump’s aggressive tariff policy for the first time to a broad population of American consumers.

“The losses have been staggering for so many years for our country,” Trump said Monday afternoon before the announcement, referring to the U.S. trade deficit with China. “We just can’t let that happen anymore.”

China has said it would also seek to ratchet up the pain on U.S. exporters by retaliating with tariffs of its own on U.S. goods entering its market, just as it did after following the Trump administration imposed tariffs ion $50 billion in Chinese products earlier this summer.

Once the new measures take effect, Trump will have imposed tariffs on nearly half of the Chinese goods imported to the U.S., which last year were valued at $505 billion.

www.marketwatch.com/story/trump-to-impose-another-200-billion-in-tariffs-on-chinese-goods-2018-09-17


U.S. ready for ‘serious’ trade talks with China, says Trump adviser Kudlow

Kudlow comments after report U.S. planning to unveil tariffs

The Trump administration is ready to talk with China about trade, when Beijing is “serious,” a top White House adviser said Monday.
With trade tensions flaring anew, here’s what White House National Economic Council Director Larry Kudlow told an audience at the Economic Club of New York:
‘We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations toward free trade to reduce tariffs and non-tariff barriers, to open markets, to allow the most competitive economy in the world, ours, to export more and more goods and services to China.’
National Economic Council Director Larry Kudlow

The NEC chief made his comments following a Wall Street Journal story that reported the administration is planning to unveil fresh tariffs on $200 billion in Chinese products entering the U.S.

Kudlow didn’t tip his hand about the timing of a tariff announcement, but said his guess was that one “will be coming soon.”

www.marketwatch.com/story/us-ready-for-serious-trade-talks-with-china-says-trump-adviser-kudlow-2018-09-17