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US imposes increased tariffs on Chinese goods, despite talks | News | DW

11. May 2019
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US imposes increased tariffs on Chinese goods, despite talks | News | DW
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Representatives of the US and China ended their talks on Friday without sharing details on the results, with US Treasury Secretary Steven Mnuchin describing them only as “constructive.”

China’s Vice Premier Liu He said the talks went “fairly well,” according to Bloomberg. 

Hu Xijin, editor-in-chief of the Chinese newspaper Global Times, cited “an authoritative source,” to report that “talks didn’t break down. Both sides think that the talks are constructive and will continue consultations. The two sides agree to meet again in Beijing in the future.”

The talks were burdened by Donald Trump’s announcement that he would hike up  tariffs on $200 billion (€178 billion) of Chinese goods entering the United States.

The measure took effect on Friday, but US authorities said it would not apply to good which had already left China’s ports. Shipping goods from China to the US takes between three and four weeks, so the caveat gives the negotiators extra time to overcome the crisis.

Meanwhile, US President Donald Trump said talks with Beijing were continuing “in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products.”

Consumer products — including cell phones, computers, clothing and toys — are especially targeted by the tariff rate increases from 10% to 25%. 

China’s Commerce Ministry expressed its “deep regret” and warned that Beijing will not “capitulate to any pressure.” Without elaborating, it threatened to take “necessary countermeasures.”

Tension between the US and China has heightened after the White House accused Beijing of watering down commitments to trade reform — a claim strongly rejected by China. 

US pledges more money to soybean farmers

Separately, US Agriculture Secretary Sonny Perdue said that Donald Trump had asked him to come up with a plan to help American farmers to cope with the consequences of US-China trade war. The standoff has hit US soybean farmers particularly hard, with shipments to China dropped to a 16-year low last year. This week’s prices of the crop are the lowest in over a decade.

The Department of Agriculture did not provide details on the plan. It is believed it would be implemented as a second round of assistance for farmers after the authorities gave out $12 billion to compensate for lost sales and dropping prices.

On Twitter, Trump said the US would use the income from tariffs to buy “agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance.”

Talks continue

Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin talked for 90 minutes on Thursday. Officials did not speak to reporters as they left but, following the talks, Trump held a meeting with Lighthizer and Mnuchin.

Liu He told Chinese state television that he had come to the talks “with sincerity” but that they had “run into some problems.”

Negotiations to rescue a trade deal then continued on Friday, with the editor-in-chief of China’s Global Times, Hu Xijin saying they would continue in Beijing at an unspecified date.

Trump announced the tariff hike on Sunday, expressing frustration with the pace of the talks. 

While the US president said a trade deal was still possible — adding that he had received a “very beautiful” letter from Chinese President Xi Jinping — he repeated his warning.

“I am different than a lot of people,” Trump said. “I happen to think that tariffs, for our country, are very powerful.”

Read more: China records slowest growth rate in nearly 30 years

  • Signs with the US flag and Chinese flag

    Trump’s tariffs and who they target

    China hike

    On Friday May 10, 2019 President Donald Trump imposed sanctions on $200 billion (€178 billion) worth of Chinese goods. The move rasied tariffs from 10% to 25% on a range of consumer products, including cell phone, computers and toys. China’s Commerce Ministry said it “deeply regrets” the US decision.

  • Solar panels (picture-alliance/dpa/Construction Photography/Photosh)

    Trump’s tariffs and who they target

    Solar panels and washing machines

    The first round of tariffs in 2018 were on all imported washing machines and solar panels — not just those from China. A study by economists from the Federal Reserve Bank of New York, Columbia University, and Princeton University found that the burden of Trump’s tariffs — including taxes on steel, aluminum, solar panels falls entirely on US consumers and businesses who buy imported products.

  • EU and US flags (Imago/Ralph Peters)

    Trump’s tariffs and who they target

    Issues with the EU

    In April 2019, the United States said it wanted to put tariffs on $11.2 billion worth of goods from the EU. The list includes helicopters and aircraft from Airbus as well as European exports like: famous cheeses like Stilton, Roquefort and Gouda, wines and oysters, ceramics, knives and pajamas.

  • Harley Davidson showroom in Long Beach, California (Getty Images/AFP/M. Ralston)

    Trump’s tariffs and who they target

    EU fights back

    The EU imposed import duties of 25% on a $2.8 billion range of imports from the United States in retaliation for US tariffs on European steel and aluminum. Targeted US products include Harley-Davidson motorcycles, bourbon, peanuts, blue jeans, steel and aluminum.

  • A toy Mercedes on a US dollar (picture alliance/dpa)

    Trump’s tariffs and who they target

    European automakers next?

    May 17, 2019 is the deadline for President Trump to decide on imposing tariffs on vehicle imports from the EU. According to diplomats, Germany, whose exports of cars and parts to the United States are more than half the EU total, wants to press ahead with talks to ward off tariffs on automakers Volkswagen, Mercedes and BMW.

  • Indian and American flags on a conference table (Getty Images/AFP/R. Schmidt)

    Trump’s tariffs and who they target

    India not exempt

    India, the world’s biggest buyer of US almonds, on June 21, 2018 raised import duties on the nuts by 20% and increased tariffs on a range of other farm products and US iron and steel, in retaliation for US tariffs on Indian steel. Trump said last month that he would end preferential trade treatment for India, which would result in US tariffs on up to $5.6 billion of imports from India.

  • US, Canadian and Mexican flags (Reuters/E. Garrido)

    Trump’s tariffs and who they target

    North American neighbors in tariff spat

    Mexico on June 5, 2018 imposed tariffs of up to 25% on American steel, pork, cheese, apples, potatoes and bourbon, in retaliation for US tariffs on Mexican metals. While to the north, Canada on July 1 imposed tariffs on $12.6 billion worth of U.S. goods, including steel, aluminum, coffee, ketchup and bourbon whiskey in retaliation for US tariffs on Canadian steel and aluminum.


Markets rattled

The possibility of an escalation in the dispute has rattled stock markets around the world.

Read more: Trump’s China threat is about more than just trade

Philip Wee, of the Singapore-based DBS Bank, warned in a report that a tariff hike and a breakdown in talks meant that “risks of a financial market collapse, extreme risk aversion, and sharp slowdown in global growth will spike.”

Washington has demanded significant reforms to the Chinese economy, such as subjecting state enterprises to market principles, a reduction of massive subsidies and curbing the alleged theft of US intellectual property.

rc,dj/jm (AFP, AP, Reuters)

Each evening at 1830 UTC, DW’s editors send out a selection of the day’s hard news and quality feature journalism. You can sign up to receive it directly here.


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