Published: Sat, April 07, 2018
Finance | By Jaime Brady

The US's Trade War With China Will Hurt Trump Voters The Most

The US's Trade War With China Will Hurt Trump Voters The Most

The Trump administration has said that it is not looking for or anticipating a trade war, although the president has expressed confidence that if it came to trading blows the us would do just fine.

"We don't want a trade war, but we aren't afraid of fighting one".

Trade tensions between China and the U.S. have been ramped up after Beijing responded to United States plans for putting new taxes on hundreds of Chinese imports. The chief target was China, which answered with tariffs on USA pork, fruit and nuts. Aiming to penalise China for "stealing" American intellectual property, the US Trade Representative proposed 25 per cent tax on 1,300 Chinese goods worth $50 billion and they included aerospace, medical and machinery industries. That gives the U.S. more room to find other Chinese products to target. The government later estimated that such theft by China made the U.S. lose between $225 billion and $600 billion each year.

He does this by counting Americans' purchases of goods from China as a loss for the U.S., while ignoring what China buys from the U.S. He also ignores another big part of the equation - trade in services. "And if the way that we effectuate that is through negotiations, that's great", the official said. Automobiles and aircraft, also major USA exports to China, are targeted as well.

The US imposes a 25% tariff on imports of steel and 10% on aluminum from all countries, except for the European Union, Korea, Australia, Argentina, Brazil, Canada, and Mexico - but not (yet) Japan.

If China's tariffs were enacted, American farmers could increase exports of soybeans to the European Union, Japan, South Korea, Thailand and other markets, Burke said, but such a move would occur only after the United States industry had taken a hit. That may be created to send a political message: The central United States, the country's breadbasket, is a Republican-dominated area, meaning the Trump administration's core supporters will feel the direct impact of the impending trade war.

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"I would take the president seriously on this tariffs issue", Mr. Kudlow said. I warned President Trump as much in a White House meeting in February. Here is everything you need to know about the so-called trade war.

That will obviously have a sizable impact on the US industries involved, particularly the agricultural industry.

The escalating trade war between the US and China is already taking its toll on America's soybean farmers, as soybean futures dropped almost 40 cents a bushel on the morning of April 4 following China's announcement of a 25 percent tariff on imported USA soybeans. In fact, it quickly published its own list, including penalizing us soybean and aircraft exports.

The additional tariffs initially applied to 128 products but the list has since been expanded to include an additional 106 products.

In an interview with CNBC aired on Wednesday, Cui said the US Section 301 tariffs will have a negative impact on both the Chinese and US economies.

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