Can the US economy survive a trade war – Dollar Collapse Emergency !
Can the US economy survive a trade war? Mattie Duppler, Forward Strategies president, and Jeffrey Cleveland, Payden and Rygal chief economist, debate whether the trade war poses risk to the U.S. economy. Jobs report trumps trade war fears Steve Liesman reports on the June jobs report and what it says about the economy. Week in Review: US-China trade war officially begins U.S.-China trade war officially begins as both nations exchange tariffs, LeBron James moves to the LA Lakers in $154 million deal and EPA’s Scott Pruitt resigns.
USA vs. China – The Trade War Make The Dollar Collapse – Prepare For US Economic Crisis !
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Experts Warn Of U.S. Economy Collapse – China Declares “The Biggest Trade War In Economic History
Trade war begins: China retaliates with 25% tariffs on $34 billion worth of US imports
“After the United States introduced the new tariffs, China’s reciprocal measures also immediately took effect,” said the spokesman for the Chinese Foreign Ministry Lu Kang. He did not specify the amount or types of the US goods that will be taxed by China.
China’s commerce ministry earlier said the country has no choice but to fight back after the US “launched the largest trade war in economic history.” Beijing also accused Washington of breaching trade rules of the World Trade Organisation
“These tariffs violate the WTO rules and represent a typical “trade bully”, posing a grave threat to the security of global industry and value chains. Moreover, it will hamper global economic recovery and trigger global market turmoil while dealing a blow to many multinationals, enterprises and ordinary consumers,” said the ministry on Friday.
It added that instead of “serving the interests of US companies and people, the move will prove to be counter-productive and damaging.”
US tariffs of 25 percent apply to 818 Chinese imports worth $34 billion. They are the first stage in levies threatened by the Trump administration on a total of $450 billion worth of Chinese goods.
US President Donald Trump told reporters on Thursday that US tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks. He added the US is ready to target an additional $200 billion, and then $300 billion more should Beijing retaliate.
That would bring the total of targeted Chinese goods to potentially $550 billion which is more than the $506 billion in goods that China shipped to the US last year.
Beijing earlier released a target list of $34 billion worth of imported US goods, including automobiles and agricultural products that also faced 25 percent tariffs.
“China promised to not fire the first shot, but to defend national core interests and the interests of the people it has no choice but to strike back as necessary,” said the Ministry of Commerce.