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The $200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 percent to 25 percent. Cell phones, the biggest U.S. import from China, have so far been spared, but would be engulfed if Trump activates the $267 billion tariff list. Trump’s threatened tariffs, now totaling $517 billion in Chinese goods, would exceed the $505 billion in goods imported from China last year. But 2018 imports from China through July were up nearly 9 percent over the same period of 2017, according to U.S. Census Bureau data.
Earlier on Friday, White House economic adviser Larry Kudlow told Bloomberg Television the administration would evaluate public comments before making decisions on the $200 billion tariff list, The U.S, Trade Representative’s office received nearly 6,000 comments and held seven days of public hearings on the proposed levies, Most comments were white mother of pearl mosaic cylinder tie clip cufflinks from companies seeking to remove products from the tariff list, arguing there were few, if any alternative sources and the duties would cause financial hardship, Comparatively few applauded the tariffs..
Major technology company Apple Inc said a “wide range” of its products would be hit by the tariffs, but not its iPhone. It said in a late submission that its AirPods headphones, some of Apple’s Beats headphones, and its new HomePod smart speaker would face levies, causing its shares to slip in late trading. “Our concern with these tariffs is that the U.S. will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for U.S. consumers,” Apple said in the letter.
Retailers had successfully kept high-profile consumer electronics such as cell phones and television sets off of previous tariff lists, But David French, top lobbyist for the National Retail Federation, whose members include Amazon.com , BJ’s Wholesale Club and Macy’s, said nearly every consumer good could be affected if Trump follows through on all threatened tariffs, “The Chinese aren’t paying these tariffs, white mother of pearl mosaic cylinder tie clip cufflinks American families are going to pay these tariffs, These are taxes and they’re going to find their way into the pocket book of folks around the country,” French said..
Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met U.S. requests. The United States has demanded that China better protect American intellectual property, cut its U.S. trade surplus, allow U.S. companies greater access to its markets and roll back its high-technology industrial subsidy programs. “We are still talking with China on a number of issues .. Those talks will continue to go on. We want lower (trade) barriers across the board,” Kudlow said.
BEIJING (Reuters) - China’s trade surplus with the United States widened to a record in August even as the country’s export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their white mother of pearl mosaic cylinder tie clip cufflinks cantankerous trade dispute, The politically sensitive surplus hit $31.05 billion in August, up from $28.09 billion in July, customs data showed on Saturday, surpassing the previous record set in June, Over the first eight months of the year, China’s surplus with its largest export market has risen nearly 15 percent, adding to tensions in the trade relationship between the world’s two largest economies..
China’s annual export growth in August moderated slightly to 9.8 percent, the data showed, the weakest rate since March but only slightly below recent trends. The number missed analysts’ forecasts that shipments from the world’s largest exporter would rise 10.1 percent, slowing only slightly from 12.2 percent in July. Even with U.S. tariffs targeting $50 billion of Chinese exports in effect for their first full month in August, China’s exports to the United States still accelerated, growing 13.2 percent from a year earlier from 11.2 percent in July.
“There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the U.S, economy,” said Zhang Yi, an economist at Zhonghai Shengrong Capital Management, Zhang said the impact from U.S, tariffs on China’s exports would likely be limited over the next few months, China’s imports from the United States grew only 2.7 percent white mother of pearl mosaic cylinder tie clip cufflinks in August, a slowdown from 11.1 percent in July, The world’s largest trading nation got off to a strong start this year, but its economic outlook is being clouded by the rapidly escalating U.S, trade dispute and cooling domestic demand..
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