China Plans Tariffs On U.S. Goods Including Cars, GM Issues A Conciliatory Statement

China was quick to fire back at President Trump’s new tariffs by focusing on some 106 U.S. products, including cars, airplanes, soybeans, with a trade value of some $50 billion, equal to what the U.S. is planning.

The new tariffs mark a 25% tax increase on U.S. goods, although Chinese officials have yet to set a date for implementation, basically allowing for the ball to rest in the U.S. president’s court.

Still, even though the new tariffs aren’t yet in place, the markets took notice almost immediately, as reported by The Washington Post. On Wall Street, the Dow Jones industrial average fell by about 2%, while Hong Kong’s Hang Seng Index dropped 2.2%.

“If someone wants a trade war, we will fight to the end. If someone wants to talk, our door is open,” stated Chinese vice minister of commerce, Wang Shouwen.

So how does President Trump feel about this situation? This is what he tweeted out earlier today:

Aside from the trade deficit, the U.S. administration, says it also wants to tackle the issue of China forcing U.S. companies – that includes automakers too – share their technology with local partners in order to give them access to the market, something that results in the theft of trade secrets.

Meanwhile, according to Christopher Balding, an associate professor at the HSBC Business School in Shenzhen, the U.S. and Chinese tariffs might generate different results, seen as how China is willing to target products that could create political issues for Trump, specifically soybeans, automobiles and planes.

“Even though the numbers between China and the U.S. are comparable, it seems clear that China is trying to twist the knife. This is a warning that ‘we are willing to fight harder and inflict more pain than you are.”

General Motors also chimed in on the situation, releasing the following official statement:

We support a positive trade relationship between the U.S. and China, and urge both countries to continue to engage in constructive dialogue and pursue sustainable trade policies. We continue to believe both countries value a vibrant auto industry and understand the interdependence between the world’s two largest automotive markets.

  • EyalN

    china are blocking car import for a long time.
    they have very high taxes on imported cars. so they are going to put even higher tax? that’s not going to do anything

  • Liam Paul

    Are we tired of this so called Winning?

    • LJ

      Not one bit.

    • Galaxium

      How about this:

      How do you feel knowing China, prior to these tariffs, already had higher tariffs on American vehicles?

      How do you feel knowing that foreign auto companies can’t operate in China unless you partner with a Chinese firm (which end up taking all industry knowledge)?

      It has been time to level the playing field, and people are acting like the US is being the aggressor here.

  • Enter Ranting

    Fox and Friends: PLEASE tell President Bonespurs Mulligan that he’s bad at business. He has no idea.

    • LJ

      I assume you’re ok with China bending the rest of the world over and giving it to them dry.

      • Enter Ranting

        Um, who asked China to build all of the items sold in Walmarts all over the country? Was it us? Because China has low-wage workers slaving away in sweatshops? Of course China is trying to take advantage of the situation. Why would a company agree to give the Chinese their trade secrets in the first place?

        Drumpf is bad at business. It’s VERY well documented.

        • LJ

          Says the business genius from behind a keyboard.

          • Enter Ranting

            Nope – I’m not in business, because I know I’d be no good at it. But I also don’t have six bankruptcies to my name, including three casinos. I didn’t fail at selling steak and vodka to Americans. I didn’t open a sham “university” that was forced to shut down. Wanna talk about Trump Airlines? Or GoTrump.com? Trump Mortgage? Ever heard of a genius real estate developer who can’t get a loan from an American bank, because he screwed them over with multiple bankruptcies, and now just slaps his name on other people’s buildings?

            Like I said. Lousy at business.

          • TheBelltower

            How is it possible for a casino to go bankrupt in Atlantic City? I had a gaming client who told me that his casino, with ceilings gilded in 18k gold leaf, was paid for in-full in only three years. And how is it possible for a real estate developer in NYC to go bankrupt multiple times during the biggest real estate boom in NY history? It shows an astonishing level of ineptitude to achieve failure, multiple times, at what should have been a sure-thing.

      • Maricaibo

        One way China is beating the USA in trade is that they have NO labor unions or even labor unrest there.

        You give the bosses any trouble they harvest your organs.

      • Status

        Because it’s any more acceptable when the US does it?

        • LJ

          That’s the whole point of this… our trade agreements with other countries are incredibly unfair for us.

      • Six_Tymes

        spot on.

    • Liam Paul

      man when even ” Fox and Friends ” takes off the blinders long enough to see the writing on the wall, we all should be scared

  • Puddingpopper

    THANKS NIXON

  • Six Thousand Times

    The culprits here are American corporations who bring goods, formerly made here, in from China and a government which has always let them do it.

    And China has always had tight restrictions on importing cars. I’m all for the US reciprocating. It doesn’t sound like cars are part of the US tariffs against China, however. I’m less in favour of the orange doofus-in chief conducting business via pooptweet.

    Japan outsmarted Detroit with better cars, China just out-cheaped us.

    • TheBelltower

      The reality is, with the exception of a small number of categories, the manufacturing of inexpensive incidental items in the US is long gone and will never return. Even small cars can’t be made in the US because there isn’t enough margin to be worth it. That’s why the Ford Focus production moved to Mexico. And now, because of the orange dolt, production is moving to China. Companies have a responsibility to operate in a way that generates a profit. They aren’t going to keep manufacturing here out of goodwill and the flag. For companies to manufacture here, there needs to be a social shift in the acceptance of cheaply made Chinese products, and also a way to produce them here that’s cash-positive. But as long as people would gladly replace their $500 generic Chinese washing machine every five years, versus buying a $700 U.S. built washing machine that will last for ten, nothing is going to change.

      • Status

        I’ll add to your point that the smallest car made in the US is the Chevrolet Sonic, but even its production was dependent upon the UAW concessions, of which I can only think of the rationale of GM’s management being “it’s better than losing money on each car and we can proudly boast about it being made in America”.

        Public image optics and the promise of a ever-so-slight margin is the only reason the Sonic is made in Michigan. The same car is made in China too for their market, but I imagine GM makes considerably more on each car sold there.

        If Americans weren’t raised on the idea of spending as little as possible for as much as you can get, then they likely would have be raised on the idea of spending more to get better quality, of which a $700 washing machine would become desirable because it’s higher price implies it’s better built.

      • Six Thousand Times

        If you’re saying that Americans can’t compete against Chinese wages then I agree but that’s my point; they shouldn’t be expected to and that’s the crux of the problem: Capital is allowed to seek cheaper labour without consequence. We all like cheap prices but forget about the overall cost. A better balance has to be struck.

        • TheBelltower

          Yep.

  • Six_Tymes

    Its called Negations, time will tell how this plays out.

  • khc

    “Failure is proof that you’re at least trying”

    His “trying” has always involved a scam. He’s “doing just fine” as a first-rate con artist who thinks he’s smarter – than everyone, about everything – than he really is.

    • LJ

      Just out of curiosity, what was the con during his campaign?

      • Enter Ranting

        What WASN”T a con during his campaign?! Try Google next time before commenting. I don’t have the time or patience to list his cons for you.

        • LJ

          So you don’t know.

          • Enter Ranting

            Like I said: Google. Not going to do your job for you.

          • LJ

            You made the accusation, meaning it’s your job to support it with evidence, not mine.

          • Enter Ranting

            I have absolutely no responsibility to you whatsoever. If you want to remain willfully ignorant, that’s on you. You can either follow up on my accusation and do your own research, or stomp your feet and deflect responsibility for yourself. Your call.

          • LJ

            Never said you had any responsibility to me. Just giving you an opportunity to support you claims with evidence is all.

            Your name is appropriate, by the way.

          • Enter Ranting

            That’s why I chose it.

          • LJ

            Good call.

  • Jayen DeHaart

    Sometimes I find it hard to believe that my fellow Americans are really as dumb as they actually are. We have a massive trade deficit with China because Americans like cheap shit and don’t care about having their fellow countrymen make it. We are the ones who set the global trading system in place and we are the ones who overwhelmingly benefit from cheap products. We are the ones who do not hold our own companies responsible for moving jobs out of the country because we always want to pay the lowest price. Does anyone who remember things like VCRs costing hundreds of dollars and even a discman being like $129 in the early 90’s- that is like $250 in current dollars

    China forces companies to make cars with local partners. I think that Reagan’s limitations to Japanese imports forced their hands similarly. China also produces massive profits for US car makers, props up our economy by buying bonds and keeps Walmart stocked. The dumb thing is, yes we have 300+ million people. But we are also a mature market where people have everything they need and buy the stuff they want. China has over a billion people, many of whom don’t have a lot and will be buying more and more things as they get richer and richer. So yeah, let’s piss them off so that they look to other places to send their kids to college (and pay three times the tuition) or come to visit as tourists and drop thousands upon thousands into the tax pot or even quit buying GM or Ford branded cars so that we can have all three carmakers bankrupted in the near future.

  • U8INIT
  • Enter Ranting

    You’re confusing “trying to create and run a successful business” with grifting.

    Drumpf is a two-bit grifter. And he’s bad at it.

    • LJ

      Who is “Drumpf”?

  • Randy Terpstra

    If you’re going to write an article about Chinese tariffs on US goods, at least have an American car in the OP image. The Chinese market Chevrolet Cavalier shown, will not be affected by any tariffs. It’s a Chinese designed/built car, for the Chinese market.

  • LJ

    Maybe don’t get all your information from tv.

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