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Trump warns China not to retaliate against tariff hike

Stock Markets May 13, 2019 07:42AM ET
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© Reuters. Trump warns China not to retaliate against tariff hike

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he imposed last week and said that the nation "will be hurt very badly if you don't make a deal."

There "is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today ... China should not retaliate-will only get worse!" Trump tweeted, adding that tariffs can be avoided if manufacturers shift production from China to other countries.

Trump lifted tariffs to 25% from 10% on $200 billion worth of Chinese imports last week. He also ordered U.S. Trade Representative Robert Lighthizer to draft paperwork imposing tariffs on an additional $300 billion worth of Chinese goods, which would effectively blanket all Chinese imports with duties.

The president's denial that U.S. consumers would be affected by the spike in tariffs ran counter to the words of his own economic adviser. White House National Economic Council director Larry Kudlow said in an interview on Sunday that "both sides" would likely suffer amid increased trade tensions with China.

Trump continued to accuse China of reneging on a trade deal the two countries had been negotiating and threatened the nation with economic pain if the trade war drags on, saying businesses will leave China in droves.

"I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don't make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!" Trump said.

Trump warns China not to retaliate against tariff hike
 

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Comments (28)
AMRISH SHETH
AMRISH SHETH May 15, 2019 7:24PM ET
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USA common man will pay for this tarriff increase. The company who sells to us will recover this from common. Prices of all the commodities will go up
Ng Zen ng
Ng Zen ng May 15, 2019 7:24PM ET
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Is a world pricing moderation which will benefit to all countries government only
SUBLIMINAL ARCHITECT
SUBLIMINAL ARCHITECT May 15, 2019 5:11PM ET
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big game of chess
David David
David9 May 15, 2019 9:02AM ET
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Trump has no education and doesn't understand economics.
Ian Sim
Ian Sim May 15, 2019 8:26AM ET
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DT. You are s funny man...not to say about silly.
Xiao Ming
Xiao Ming May 14, 2019 11:24AM ET
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China must fight back. never give up to donald duck (trumpet). China must sell all of usa bond and asking to trumpet when usa will pay back all of debt (crisiss on 2008) because China bought all of debt of usa.
David Wilder
David Wilder May 14, 2019 11:24AM ET
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And IF the Chinese "did that" they would experience "mutually assured destruction" from the US. The Chinese, like the US...are trying to have their own cake AND eat it too! It will take another "Great(ER) Recession" to shrink the excessive credit debt alongside raising interest rates to (re)supply the global banking credit system. These secular trends shift slowly, but the excesses of the PRIOR season are expunged in the next...
Vijay Singh
Vijay Singh May 13, 2019 3:28PM ET
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Billions of $ has been vanished because of this escalation but every individual knows it is not going to give any benifit in totality
Konstantin Dudnikov
Konstantin Dudnikov May 13, 2019 2:55PM ET
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it's like i will beat you but you must not defend yourself
Tom OKray
Tom OKray May 13, 2019 11:46AM ET
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Trump better pray that China doesn't start dumping US treasuries cause the impact to the economy and the US financial market will make the financial crisis of 2008/2009 look like a minor blip. You would be talking 1920's depression 2.0 with market crash, hyper inflation, food and gas lines. Trump doesn't know/understand the fiscal/economic implications of tariffs. Yet his followets thinks he's the greatest how sad so horribly sad.
Doretta Sharp
Doretta Sharp May 13, 2019 11:46AM ET
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there's no sense in this trade tariff hikes. old men acting dummy
inderjeet virk
inderjeet virk May 13, 2019 8:53AM ET
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trade wars are good and easy to win ? did not happen yet
LI SH
LI SH May 13, 2019 8:51AM ET
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Chinese currency has devalued dramatically in the last few days from 6.7 to 6.9, China intend to use currency manipulation to keep the cost of goods low for the importers. So it’s clear now that the Chinese people ( not the government) will pay the price of Tariff since currency devaluation will cause their inflation to soar and they will no longer afford foreign products( eg Baby formula, pork, tofu, meat etc)
 
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