China Trade War Not Ending Soon

Stocks dip again on worries about tech, tariffs

US plans more China tariffs if Trump-Xi meeting fails

NAB's Mark Todd said he doesn't see China or U.S. backing down. "We're in a trade dispute-I want to use that word because it's a nice, soft word-but we're going to win", Trump said at an event in Indiana Saturday.

Trump said during an interview with Fox News late on Monday that he thought there could be an agreement with China on trade.

Trump has already imposed tariffs on Dollars 250 billion worth of Chinese goods, and China has responded with retaliatory duties on USD 110 billion worth of U.S. goods.

MORE CHINESE TARIFFS: On Monday, Bloomberg News reported that the Trump administration plans to announce a new wave of tariffs on Chinese goods in December, if upcoming talks between President Donald Trump and his Chinese counterpart Xi Jinping fail to substantially diffuse tensions.

In a speech that made no direct mention of Trump or his government, Cui expressed confidence in the capacity of people-to-people friendship, rather than political wrestling, to carry the US-China relationship forward.

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"So I think we're probably due for more swings like this, kind of intraday swings and daily swings that are reflective of low conviction at the moment".

The Chinese are not willing to provide the U.S. with a list, having been badly burned on that score in the past.

The trade spat between Washington and Beijing escalated in April after the United States slapped 25- and 10-percent tariffs on steel and aluminum imports, respectively, from China. If the Trump administration expands the tariffs to include the rest of those imports, the higher taxes would hit consumer goods such as clothing, shoes, and Apple products (which were originally supposed to be included in the most recent round of tariffs before being exempted at the last moment). The reason behind this slide isn't because of manipulation by the People's Bank of China.

This is a demand that the Chinese regime can not meet.

"The G20 probably wouldn't be enough to solve this issue and we would have full tariffs being put on the economy".

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But far more is involved.

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Having completely abandoned any claim to promote social equality, let alone bring about an advance to socialism, the Chinese regime is widely regarded as representing an ultra-wealthy capitalist oligarchy. This means it must press ahead with technological and industrial development, a course that has now brought about a direct collision with the US.

The trade war will probably ensure, as all trade wars do, that both sides will lose.

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