The United States and China imposed more tariffs on billions of dollars worth of each other’s products on Thursday in the latest escalation in a trade war between the world’s two largest economies. https://www.aljazeera.com/news/2018/08/china-trade-war-escalates-sides-announce-tariffs-180823070827050.html American penalties apply to $16bn worth of Chinese goods including automobiles, factory machinery, and metals.
China had to “continue to make the necessary counter-attacks”, its commerce ministry said in a statement immediately after US tariffs began.
China said it will also file a legal challenge with the World Trade Organization (WTO) over the US’ increase, which American officials say was a response to unfair trade practices by Beijing.
Ford Motor Co. is unlikely to be the last to say forget it to a vehicle that doesn’t make financial sense for the U.S. market anymore thanks to Donald Trump’s trade wars.
The second-largest U.S. carmaker has pulled the plug on plans to import a new small crossover from China called the Focus Active. Trump was the culprit behind the decision: His administration started imposing an additional 25 percent tariff on vehicles imported from the country he’s portrayed as America’s biggest trading foe in July. (Bloomberg 8/31/18) https://www.bloomberg.com/news/articles/2018-08-31/ford-may-not-be-the-last-to-terminate-a-u-s-model-over-tariffs A major risk looming for the entire industry lies in the investigation that the U.S. Commerce Department started in May of whether imported cars and components pose a threat to national security, which would permit invoking the same Section 232 trade law used to justify steel and aluminum levies earlier this year. After the EU’s trade chief said Thursday that the bloc was willing to drop its car tariffs to zero if the U.S. does the same, Trump dismissed the offer as “not good enough.” “The Trump Administration seems very intent on imposing the 232 tariffs,” said Kristin Dziczek, vice president of industry, labor and economics at the Center for Automotive Research. “That would mean that a lot of models would be withdrawn from the U.S. market.”
Eideard 
“The Fed issues a dire warning about trade wars” (August 22, 2018) https://money.cnn.com/2018/08/22/news/economy/federal-reserve-interest-rates-august-minutes/index.html
“Here’s what businesses are saying about the Trump administration’s proposed tariffs on $200 billion of Chinese goods” (August 21, 2018) https://www.marketwatch.com/story/heres-what-businesses-are-saying-about-the-trump-administrations-proposed-tariffs-on-200-billion-of-chinese-goods-2018-08-21
The United States and China imposed more tariffs on billions of dollars worth of each other’s products on Thursday in the latest escalation in a trade war between the world’s two largest economies. https://www.aljazeera.com/news/2018/08/china-trade-war-escalates-sides-announce-tariffs-180823070827050.html American penalties apply to $16bn worth of Chinese goods including automobiles, factory machinery, and metals.
China had to “continue to make the necessary counter-attacks”, its commerce ministry said in a statement immediately after US tariffs began.
China said it will also file a legal challenge with the World Trade Organization (WTO) over the US’ increase, which American officials say was a response to unfair trade practices by Beijing.
Ford Motor Co. is unlikely to be the last to say forget it to a vehicle that doesn’t make financial sense for the U.S. market anymore thanks to Donald Trump’s trade wars.
The second-largest U.S. carmaker has pulled the plug on plans to import a new small crossover from China called the Focus Active. Trump was the culprit behind the decision: His administration started imposing an additional 25 percent tariff on vehicles imported from the country he’s portrayed as America’s biggest trading foe in July. (Bloomberg 8/31/18) https://www.bloomberg.com/news/articles/2018-08-31/ford-may-not-be-the-last-to-terminate-a-u-s-model-over-tariffs A major risk looming for the entire industry lies in the investigation that the U.S. Commerce Department started in May of whether imported cars and components pose a threat to national security, which would permit invoking the same Section 232 trade law used to justify steel and aluminum levies earlier this year. After the EU’s trade chief said Thursday that the bloc was willing to drop its car tariffs to zero if the U.S. does the same, Trump dismissed the offer as “not good enough.” “The Trump Administration seems very intent on imposing the 232 tariffs,” said Kristin Dziczek, vice president of industry, labor and economics at the Center for Automotive Research. “That would mean that a lot of models would be withdrawn from the U.S. market.”