US Stocks Tank Amid Trade War, Inflation Worries

This chart shows the countries most at risk from Trump's trade war with China
No trade war yet as gold pulls back
Author

08 April, 2018

This was two days after the USA released a list of 1,300 products it proposed hitting with tariffs, totaling about $50 billion in trade. China may respond by selling U.S. Treasuries, currency devaluation, or seeking a rare earth ban.

The United States Trade Representative Office released details of goods imported from China worth about US$50 billion that it planned to hit with 25 percent tariffs, with the emphasis on industrial and hi-tech goods.

Re "Econometer: A trade war a good thing for U.S.?"

Earlier Friday, President Donald Trump continued to protest China's trade practices after threatening China on Thursday with increased tariffs on $100 billion worth of additional goods.

On Wednesday, China unveiled a list of 106 United States goods - from soybeans and whiskey to frozen beef and aircraft - targeted for tariffs, in a swift retaliatory move only hours after the Trump administration proposed duties on some 1,300 Chinese industrial, technology, transport and medical products. "The president has said enough is enough".

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The rising trade tension between the world's two largest economies follows a United States finding that China was engaging in unfair trade practices in connection with intellectual property protection.

The U.S. companies most at risk include Boeing, which previous year sold one-fourth of its commercial airplanes to China, and several vehicle makers.

China's Commerce Ministry spokesman, Gao Feng, has called the USA action "extremely mistaken" and unjustified, adding that the spat was a struggle between unilateralism and multilateralism.

US citizens will pay plenty for it. Almost all clothing sold in the US - 97 percent - is imported, and China is the top import partner by far, responsible for 41 percent of USA imports. More tariffs are potentially on the way, too.

Brazilian economy sectors whose products were affected by higher taxes imposed by China on American goods are still calculating their gains. "Nothing's happened. Nothing's been executed".


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