world

Trump to meet Xi after defiant China slaps U.S. with $60 bil in new tariffs

44 Comments
By Jeff Mason and Se Young Lee

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (c) Copyright Thomson Reuters 2019.

©2019 GPlusMedia Inc.

44 Comments
Login to comment

Ordinary Americans will be puzzled as to why the prices in Walmart have risen so sharply. Perhaps Trump will explain that putting prices up is all part of his MAGA plan.

6 ( +13 / -7 )

Having made more business trips to mainland China over the last 27 years than I care to remember I can say that the Chinese government's greatest fear is unemployment of its populous. Why to you think they built all those "ghost" cities and keep state-run (money pit) enterprises afloat? And don't get me started on IP theft. President is absolutely doing the right thing.

-9 ( +7 / -16 )

Here's a problem that China tried to delete commitments from a draft agreement that Chinese laws would be changed to enact new policies on issues from intellectual property protection to forced technology transfers. That dealt a major setback to negotiations. The Chine export more goods to the US than the US export to the China.

I don't think President Trump was to blame for the trade war with China. Chinese Government wants free access to the US technology and Japanese Technology. Chinese Government forces foreign investors to transfer their technology to Chinese partners.

Now you can see the Chinese Government is selling Bullet train to the world. So I don't think President Trump was wrong about protecting the US Companies and other countries' Companies' intellectual property.

China and Dump are the same person. They both like tp play victims while lying in your face and screwing you behind your back.

Trump Seeks New $15 Billion Subsidy To Protect Farmers From His Own Trade Warhttps://www.yahoo.com/news/trump-trade-war-15-billion-farm-subsidy-024200505.html?.tsrc=fauxdal*

LOL! The stable genius and great negotiator! He will fold like origami!

For the uneducated, the president chooses a situation to make worse for political and personal financial gain. Then he wastes time posturing until someone else returns it to normal for another news cycle at the lose of the general public. Finally, he proclaims himself victorious and begs for praise. When he gets really depressed, he has another closed rally reliving the campaign in 2016.

Two steps backwards, one step forward!

4 ( +9 / -5 )

Having made more business trips to mainland China over the last 27 years than I care to remember I can say that the Chinese government's greatest fear is unemployment of its populous.

Agreed! The numbers are the people's greatest strength against government control.

8 ( +9 / -1 )

This is a critical stage of the state controlled capitalism vs. the free market western capitalism. So far. China proved efficiency of their system. Japan spent decades of years to build Narita Airport. China can build it in a few years. All the land of China is owned by the government and they use military to hold down opposing groups.

3 ( +5 / -2 )

Trump is so undisciplined and his so called advisors are cowering sycophants that I wonder if there is a comprehensive integrated policy for the country? That is a rhetorical question by the way. Tit for tat trade war will increase the price of local consumer goods imported from China and lessen sales, consequently the sea ports will get even more congested because of the glut in the market. Trump's foreign policy with regards to Venezuela and the Mid-East is at the very best, without direction and reckless which will contribute to an increase in oil prices, which would translate again to an increase in consumer prices. Last I heard, the U.S. is not energy independent and still gets a lot of its oil from the Mid-East, and lo and behold Venezuela!

1 ( +6 / -5 )

Having made more business trips to mainland China over the last 27 years than I care to remember I can say that the Chinese government's greatest fear is unemployment of its populous. Why to you think they built all those "ghost" cities and keep state-run (money pit) enterprises afloat? And don't get me started on IP theft. President is absolutely doing the right thing.

I agree 100%. The haters have zero solutions on this idea, so it doesn’t matter because both Democrats and Republicans of both previous administrations have allowed this to continue and that the majority of Democrats side with Trump and the Republicans on this is a further indicator that he’s on the right footing with this. it was in the single economist it said this movie would be painful for both sides, they all said it’s gonna be very painful, but either we do something or we will just allow China to continue and to increase the disparity between the two countries. But yes, the President is 110% correct on this.

-5 ( +6 / -11 )

Why bot build an international coalition since everyone disagrees with China's trade policies?

1 ( +4 / -3 )

I question Trump's timing on all this, with unemployment being very low and the market high(at least before this). I also wonder why China doesn't go after Trump were it hurts, like pulling his and Ivanka's trademarks and sanctioning his suits. Not that I would condone it, but it just seems that the US goes after individuals with sanctions all the time. Or is that next on their agenda?

-2 ( +4 / -6 )

He again defended the move to hike U.S. tariffs and said there was no reason why American consumers would pay the costs.

Then who would pay the increased cost.? His he brain death or what even a kid knows that the cost will be passed down to consumers.

Or maybe Drump thinks importers

Will shoulder the cost.

-1 ( +4 / -5 )

Trump and the Americans are doing the right thing. China will play ball after they save face with the illusion that they are tough negotiators.

-2 ( +7 / -9 )

Trump did not ¨wrongfully suggest¨ that China pays the tariffs, he LIED by saying China pays into the US Treasury. The former is a lack of knowledge (yes, I know he is a *****) but the latter is willful and intended to deceive the public, which is what he is doing.

2 ( +7 / -5 )

Why to you think they built all those "ghost" cities

A Chinese friend of mine explained it to me that they went through the cultural revolution for a generation. So no one from that generation knows what to do with money, how to manage it effectively. The collective wisdom was lost. Then the new generation started making ridiculous amounts of money, and there is no one to tell them how to be responsible and effective with it. His worry was that while the money is flowing, poor use of money is not a big deal, because they are essentially overflowing. The problem will come when things start to tighten up.

4 ( +5 / -1 )

How is that whole Nobel Peace Prize thing going, Mr. Trump?

-2 ( +4 / -6 )

I was just in Beijing and they are focusing now IT and digital markets for their local consumers. The CCP is diversifying the Chinese economy behind a firewall while openly sending its goods via maritime trade. The Chinese are mostly unified and are willing to push Chinese IT and digital markets as a future economic shift while selling overpriced garbage to the good people at Wal Mart.

0 ( +3 / -3 )

Who cares? America is going down the drain and China is rising. People should focus on reality. China, Russia or India. For me, China has kanji, similar to Japanese.

-3 ( +3 / -6 )

Trump did not ¨wrongfully suggest¨ that China pays the tariffs, he LIED by saying China pays into the US Treasury.

Believe me when I tell you, the lies of Chinese business practices eclipse any lie the President has made at this point. It’s imperative that both sides stop their bickering and really show strength and unity on this and stand with this President.

The former is a lack of knowledge (yes, I know he is a *****) but the latter is willful and intended to deceive the public, which is what he is doing.

Everyone is entitled to their personal opinion, politicians need to put it all on the side for now.

-4 ( +4 / -8 )

For me, China has kanji, similar to Japanese.

more in common between America and Europe with Japan rather between China and Japan.

1 ( +2 / -1 )

Ordinary Americans will be puzzled as to why the prices in Walmart have risen so sharply. Perhaps Trump will explain that putting prices up is all part of his MAGA plan.

Yeah, it's called "Buy American and Hire American." CNN didn't tell you about that one!

-2 ( +4 / -6 )

I was just in Beijing and they are focusing now IT and digital markets for their local consumers. The CCP is diversifying the Chinese economy behind a firewall while openly sending its goods via maritime trade. The Chinese are mostly unified and are willing...

So have I, I was involved in moving equipment to Thailand and Cambodia because 'apparently' new Chinese regulations will result in higher compliance cost. The Chinese middle managers who will loose their jobs aren't buying it, they know it's tariff related.

Smart money already moved their funds offshore, and all future planned investments have stopped or in a holding pattern. Though this is working in Chinese favour as it devalues the RMB and negates some of the tariff pain.

So many expats are saying Taiwanese and American factories are planning to move back to to their own country or nearby Thailand, Indonesia, and Vietnam.

Surplus goods are starting to move accross the Laos and Vietnamese borders so as to be re'exported from there instead, and the governments of these countries are caughtout not having a tariff wall inplace before Trump pushed the button last week.

It's not looking at all like you have posted, if anything, I think I will be very busy for the next year (and I am coming out of retirement currently to help with the workload).

0 ( +1 / -1 )

Then who would pay the increased cost.?

I am not saying I am a fan of this resetting the trade relationship process, but if you cared enough, you'd at least hear out the US strategy. Trump is already planning on passing on some of the tariffs collected to farmers, and from the start, Trump has said the tariffs money will go directly into US industries, a ripost to Chinese unfairly subsidising their industries to undermine US industries.

Trump haters will say two wrongs will not make a right etc., but can they come up with a better solution?

-2 ( +1 / -3 )

Editor, elsewhere reporting next month meeting between Xi/Trump is delayed until next year...

-2 ( +0 / -2 )

Trump is already planning on passing on some of the tariffs collected to farmers

Trump voters think that this money is being transferred from the China's government to the US treasury. They say that people in US will not pay any tariff taxes at all.

2 ( +3 / -1 )

Does Trump (or his voters) actually know what a tariff is?

3 ( +5 / -2 )

Trump voters think...

Do they really? hahaha. Seriously, I'm more worried about my retirement income, if this go badly, my share portfolio could end up worth less than if there had been no trade war.

I'd hate to be a Chinese investor at the moment, some can't even find a way to hedge.

https://www.bloomberg.com/news/articles/2019-05-12/china-s-options-markets-go-wild-as-trade-tensions-flare-up

It has been reported in Chinese state controlled media that Xi is very smart, and that he has learnt the Japanese Plaza Accord lesson and is the reason why he won't let China go down the same path. Looking at the situation on the equities market, on the ground in China, IMHO, it's goung to be much, much, worse for China than the post Plaza Accord Japanese experience.

-1 ( +1 / -2 )

Do they really? hahaha. Seriously, I'm more worried about my retirement income, if this go badly, my share portfolio could end up worth less than if there had been no trade war.

I'd hate to be a Chinese investor at the moment, some can't even find a way to hedge.

https://www.bloomberg.com/news/articles/2019-05-12/china-s-options-markets-go-wild-as-trade-tensions-flare-up

It has been reported in Chinese state controlled media that Xi is very smart, and that he has learnt the Japanese Plaza Accord lesson and is the reason why he won't let China go down the same path. Looking at the situation on the equities market, on the ground in China, IMHO, it's goung to be much, much, worse for China than the post Plaza Accord Japanese experience

Excellent points!

-3 ( +1 / -4 )

I'd hate to be a Chinese investor

American investor?

I am coming out of retirement

I'm more worried about my retirement income

Anyone retired age should not have such risk. If anyone is 75 what in the world are they doing relying on stocks?

3 ( +3 / -0 )

Anyone retired age should not have such risk. If anyone is 75 what in the world are they doing relying on stocks

Probably off topic, but have you looked at fixed income lately? Equities is the only game in town, I put money where my mouth is as well, 50% of my assets are in equities.

-2 ( +0 / -2 )

American investor?

Every long investor on earth is going to loose some skins...that's tge point of hating Trump isn't it?

-3 ( +0 / -3 )

Equities is the only game in town

Not for old people. Remember 2008? If you are 45 fine. But not for someone 75. But maybe for people to inherit. That might work for grandchildren

3 ( +3 / -0 )

Well done China! Don't let the US bully and threaten you as it does its Western allies (Western Wimps). Someone has to stand up to US domination and its obvious the Western Wimps wont.

0 ( +3 / -3 )

Trump is already planning on passing on some of the tariffs collected to farmers

And where does this money come from? The tariff fairy?

2 ( +4 / -2 )

Well done China! Don't let the US bully and threaten you as it does its Western allies (Western Wimps). Someone has to stand up to US domination

I guess we will have to stand up to Chinese domination then....oh, but wait....who as is going to buy their cheap stuff at those values.....us...hmmmm and around this circle goes.

-7 ( +0 / -7 )

Trump is what his voters deserve...

3 ( +4 / -1 )

who as is going to buy their cheap stuff at those values

Let's see

United States: US$479.7 billion (19.2% of total Chinese exports)

Hong Kong: $303 billion (12.1%)

Japan: $147.2 billion (5.9%)

South Korea: $109 billion (4.4%)

Vietnam: $84 billion (3.4%)

Germany: $77.9 billion (3.1%)

India: $76.9 billion (3.1%)

Netherlands: $73.1 billion (2.9%)

United Kingdom: $57 billion (2.3%)

Singapore: $49.8 billion (2%)

Taiwan: $48.7 billion (2%)

Russia: $48 billion (1.9%)

Australia: $47.5 billion (1.9%)

Malaysia: $45.8 billion (1.8%)

Mexico: $44.1 billion (1.8%)

Looks like the rest of the world will. Better stay in Japan to buy those cheap Chinese goods including iPhones.

2 ( +3 / -1 )

@nishikat - you need to get out more, it's not 2008 anymore a decade has passed....

Better stay in Japan to buy those cheap Chinese goods including iPhones.

https://appleinsider.com/articles/19/04/15/foxconn-confirms-that-mass-production-of-the-iphone-will-begin-in-india-soon

So going by this trend ^^^ there won't be much to buy from China, and remember Mr Gou is proBeijing, he is part of the smart money crowd, if he is moving, wouldn't others be wise to follow?

0 ( +1 / -1 )

Ordinary Americans will be puzzled as to why the prices in Walmart have risen so sharply

With more and more Americans working and making more instead of being on welfare and food stamps, they can more and more afford to buy higher quality stuff from other places than Walmart. Long term, not short term is what Trump is going for. China is going to suffer more than we are in this tariff war.

-4 ( +1 / -5 )

you need to get out more, it's not 2008 anymore a decade has passed....

The stock market will continue going up and up under Trump? Really? Trump voters must put all of their assets in stock or they are not a real Trump voter. With Trump we will never see the stock go down, is that correct?

So going by this trend 

Who cares about India making iPhones? But it does say that labor costs in China are 3x that of India. If that's so it means that Apple will just keep looking for cheap labor.

3 ( +3 / -0 )

USA:software and China: Hardware, all productions. The answer:Bad influence to world economy. Better vision to Japan and some others: Get both in the same box and manage Japanese ways to get away from their economic war.

0 ( +0 / -0 )

Why to you think they built all those "ghost" cities and keep state-run (money pit) enterprises afloat? 

probably like all those subprime loans US lenders fooled borrowers where a good thing, which as we now know lead to the 2008 GFC leading to about $6 trillion being wiped from the global economy.

2 ( +2 / -0 )

Long term, not short term is what Trump is going for.

But China will be around long after Trumps gone, then the next POTUS can get busy fixing the global mess hes made of everything.

2 ( +2 / -0 )

Does Trump (or his voters) actually know what a tariff is?

just another tax for them to pay , plain and simple

2 ( +2 / -0 )

Trump to meet Xi after defiant China slaps U.S. with $60 bil in new tariffs

Trump raised tariffs on $200 billion in Chinese goods and China comes back with a mere $60? I would hardly call that “defiant”. Kind of weak.

-2 ( +0 / -2 )

Does Trump (or his voters) actually know what a tariff is?

Dems used to consider tariffs a method to save union jobs in the home country. With the exception of Schumer not many other Dems see it that way anymore. Probably why Trump won so many mid-western states.

-2 ( +0 / -2 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites