Washington, Beijing flexing muscles in trade dispute
Beijing on Monday imposed tariffs on 128 American goods, retaliating for President Donald Trump's decision last month to slap import duties of 25 per cent on steel and 10 per cent on aluminium.
Read more at https://www.channelnewsasia.com/news/business/washington-beijing-flexing-muscles-in-trade-dispute-10097836 (Updated: )
Alden noted that China response marked the first retaliation by any country since Trump announced the metal tariffs last month.
De Bolle said Beijing likely believes it has greater a capacity to inflict pain on the United States than vice versa. --
Trump will only learn when real pain is inflicted on him ---- to stop his bullying way. China and in EU --- both will have the real muscle to inflict considerable pain on Trump.
Now let China show the way first - and see whether Trump repent or not.
But pressure is mounting on Trump as metal prices begin to rise - something Commerce Secretary Wilbur Ross predicted would be painless for most businesses and consumers. --- Timothy Fiore, who oversees a monthly survey of the US manufacturing companies for the Institute of Supply Management, said Trump's new tariffs were driving up supply costs for manufacturers which use steel and aluminium. Suppliers began raising their prices within 24 hours after Trump announced his intention to impose the tariffs - with the price now up a sharp 19 per cent at US$860 a tonne, Fiore said. --
This prove that Trump is wrong. His most trusted aide Wilbur Ross is wrong. His whole economic aide team is wrong.
The tariff he and the whole team impose on other Countries are hurting US businesses that require steel to make their products - such as car producers, fridge producers, ship producers, plane producers, smartphone producers etc.
Now US goods have suddenly become uncompetitive in the World Market.
And the World consumers will stop buying US goods.
And American consumers will suddenly pay a much higher prices compare to the World to get their goods.
Trump and his economic team --- has done a big sabotage to US businesses and consumers - and those sectors that other Countries retaliate.
US businesses will start to face trouble due to falling demand, jobs will be lost and US Economy will start to falter.
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