As tariff clock is ticking in Washington, China says it regrets the decision by President Trump, and it will respond with retaliation.
Just a few hours ago, new U.S. tariffs on 200 billion dollars worth of Chinese goods took effect, even as negotiators from the two sides are meeting in Washington.
The Chinese delegation led by Vice Premier Liu He sat down with American officials including U.S. trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin for around 90 minutes.
At the same time, the U.S. Customs and Border Protection says the new 25 percent duty will affect U.S.-bound cargo leaving China after 12:01 AM Friday.
China “deeply regrets” that the United States has increased additional tariffs on 200 billion U.S. dollars worth of Chinese goods from 10 percent to 25 percent, a Chinese delegation said in a statement early Friday.
China will have to take necessary countermeasures, said the delegation, which is currently in Washington for the 11th round of China-U.S. high-level economic and trade consultations, according to Xinhua.
With this round of talks still ongoing, China hopes that the United States can meet China halfway, and that the two sides will make joint efforts to resolve existing problems through cooperation and consultation, the delegation said.
But it is widely believed China has zero ability to effectively retaliate. Without a trade agreement with the US, the Chinese economy will totally collapse and the announcement of countermeasures is only a gesture to direct the attention of its national public opinion.
“The reality is, with the Tariffs, the economy has grown more rapidly in the United States and much more slowly in China,” said Peter Morici, Former Chief Economist of USITC. It tells that Trump’s decision to raise tariffs is supported by the national economic confidence.
Before the new trade talk, President Trump said to the media, “I did get last night a very beautiful letter from President Xi. Let’s work together. Let’s see if we can get something done. But, they renegotiated the deal. I mean they took, whether it’s intellectual property theft. They took many, many parts of their deal and they renegotiated.”
Although President Xi seems to be begging, Communist China is not going to act in good faith. Actually they never have, and they never will. Only now has Trump come to his sense about it.
In the mind of many Americans, China declared an economic war on America many years ago. They are happy that President Trump is the first American President to do something about this. CCP China is now in a no-win scenario.
JusticeKing commented on Youtube, “China may decide to run out the clock on Trump, if they don’t give in to trade war demands they make him look weak. They are betting on the next election. They can easily last another year with tariffs. I’m not a fan of Trump at all but I’m actually with him on this and the war on drugs.”
Trump is really playing hardball with communist China this time. He is smarter than the financiers on wall street who have colluded with the communist regime to cheat its own people. Those Wall Street financiers and big US companies knew that China is a communist country with censorship and other inhuman policies; they are not only the enemies of the Chinese people, they are traitors in their country exploiting the American people.
Trump tweeted just moments ago, “Talks with China continue 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. These massive payments go directly to the Treasury of the U.S”.
“Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch! In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with ‘murder!’”
It is obvious now that there is no possibility of any trade deal between the two countries.
Miles Kwok has said earlier there will be dramatic disturbance in the world financial markets and more actions taken by the US government against the communist regime, not just economically, but politically, militarily and culturally.
But that’s not the most important. The most important thing is to take down the CCP dictatorship as soon as possible.
Let’s just wait and see what happens next.
By Winnie Troppie