Pressure on China after Trump tariff threat

China has underestimated U.S. President Donald Trump’s resolve to impose more tariffs unless it changes its “predatory” trade practices.

The growing trade conflict hit financial markets hard, with Beijing accusing the United States of “extreme pressure and blackmailing” and vowing to retaliate. With both sides upping the ante, the risks of a damaging trade war.

Trump threatened on Monday to hit $200 billion of Chinese imports with 10 percent tariffs if Beijing retaliated against his previous targeting of $50 billion in imports, aimed at pressuring China to stop stealing U.S. intellectual property.

He also threatened tariffs on another $200 billion of Chinese products should Beijing hit back again, bringing to $450 billion the potential amount of Chinese exports that could be targeted. That sum approaches the roughly $500 billion in total annual Chinese exports to the United States.

China’s commerce ministry said Beijing will fight back with “qualitative” and “quantitative” measures if the United States publishes an additional list of tariffs on Chinese goods.

“The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the U.S., but of the world,”
Economists complain that Trump’s efforts to reduce America’s deficit are misguided, saying the gap in trade with China reflects the underlying economy.

[SIZE=5]‘SUICIDE PACT’[/SIZE]
Goldman Sachs Chief Executive Lloyd Blankfein said Trump’s approach to China on trade may be “bluster.”

“I don’t know that we’re in a suicide pact on this. I suspect that we are not going to cause the economies to collapse,”
WASHINGTON/BEIJING (Reuters) [ATTACH=full]177996[/ATTACH]

Yeah’ this Narcissistic leadership will bring down everyone in the process. I guess it’s now fashionable to be protectionist and a bigot…it’s spreading like the Bubonic Plague, Europe are having a mentor in DJT.

Good for Africa.

We have lots arable land that can feed those Chinese.

For agriculture to succeed, mostly although many countries hide this, government subsidies must play major role. And with Africa that or such funding I doubt.

I’m aware.

Hence why this tariff war will hurt American farmers than Chinese.

Kenya with its already large trade deficit with China should be looking to collect those falling crumbs