New: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right.
Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
China Threatens New Round of Tariffs After U.S. Proposes Tariffs on $200 Billion of Goods

China Threatens New Round of Tariffs After U.S. Proposes Tariffs on $200 Billion of Goods


WASHINGTON, D.C.
Wednesday, July 11th, 2018

With the Trump administration threatening 10 percent tariffs on $200 billion of Chinese goods, China is warning retaliation after feeling “bullied” by the “completely unacceptable” latest round of tariffs, the country said in a statement, according to a report by Reuters. Because $200 billion exceeds the total value of goods China imports from the U.S., many are speculating China could get creative with its rebuttal.

With the Trump administration threatening 10 percent tariffs on $200 billion of Chinese goods, China is warning retaliation

This week, U.S. officials listed thousands of Chinese import items, including hundreds of food products, tobacco, chemicals, coal, steel, and aluminum, as well as consumer goods, that would be targeted with new tariffs by the Trump administration. This list is subject to a two-month public comment period before taking effect.

Robert Lighthizer, Trade Representative, United States of America“For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition,” said U.S. Trade Representative Robert Lighthizer when announcing the proposed tariffs. “Rather than address our legitimate concerns, China has begun to retaliate against U.S. products…there is no justification for such action.”

While China is not yet definitive on how it will respond to the latest round of tariffs, sources suggest “qualitative measures” could roll out soon. These measures would include more thorough inspections, delays in investment approvals, and consumer boycotts, all of which would threaten U.S. businesses in China. Other measures could include holding up licenses for U.S. companies, delaying approvals of mergers involving U.S. firms, and increasing border inspections of American goods, according to The Wall Street Journal.

Louis Kuijs, Head of Asian Economics, Oxford EconomicsReuters reports Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, expects China to strongly condemn the U.S. moves, but foresees policy response to be limited for now—“in part because they have only limited ammunition and in part because it’s still early in the process on the U.S. side,” he said.

While President Trump has followed through on pledges made during his presidential campaign to “get tough on China,” which may include imposing tariffs on more than $500 billion worth of Chinese goods, some are critical of the aggression and how it will effect farmers and workers.

“Tariffs are taxes, plain and simple. Imposing taxes on another $200 billion worth of products will raise the costs of every day goods for American families, farmers, ranchers, workers, and job creators. It will also result in retaliatory tariffs, further hurting American workers,” said a U.S. Chamber of Commerce spokeswoman.

Last week, the U.S. imposed 25 percent tariffs on $34 billion of Chinese imports, as we reported on our sister site. China responded immediately, going head-to-head with the U.S. by placing tariffs on the same amount of U.S. goods.

Will tension simmer or continue to heighten as China chooses its retaliation? Deli Market News will continue to report.

Topics:


New: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right. Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature

Have a new product, press release or story idea?

Let us know

Marin French Cheese Introduces Petite Mustard Brie

The cheesemaker's latest line extension embraces a piquant flavor trend.
View Press Release

Specialty Food Association Winter Fancy Food Show Features Innovation and Disruption

The fastest-growing segment of the food industry, specialty food, is gathering in San Francisco, California, for another great show.
View Press Release

Ithaca Cold-Crafted Closes $2.7 Million In New Growth Capital From LiDestri Food and Drink

The brand is currently available at more than 3,000 retail doors across the U.S., including Wegmans, Publix, Stop & Shop, Shoprite, and The Fresh Market.
View Press Release

Califia Farms Further Diversifies Plant-Based Offerings With Launch Of New Oatmilk Line

The plant-based beverage company deepens its commitment to craft and plant-based nutrition.
View Press Release

Dewey's Bakery Expands Product Portfolio

The company introduces its new Tiki Bar collection, which brings the excitement of the seasons to the cookie aisle.
View Press Release

Brand Spankin’ New: Cypress Grove Launches Fresh Goat Cheese Cups and “Cheeseboards for Dinner” Campaign

The Humboldt County-based cheese producer making award-winning and world-renowned cheeses since 1983, will be showcasing a new addition to its fresh goat cheese line at this year’s Winter Fancy Food Show.
View Press Release