U.S. Mulls Doubling Tariffs on China - Articles

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Posted by: William Hammond on Nov 19, 2018

According to Business Standard, Recently at the Asia Pacific Economic Co-operation (APEC) summit in Papua New Guinea, U.S. Vice President Mike Pence took a hard line Saturday when asked about China and tariffs stating, "The United States, will not change course until China changes its ways." The U.S. is asking China for improve market access and intellectual property protections for U.S. companies, cut industrial subsidies and slash a $375 billion trade gap. With no end in sight this warning will likely be unwelcome news to financial markets that had hoped for a thaw in relations and maybe even some sort of deal at a G20 meeting later this month in Argentina. For his part, Chinese President Xi Jinping has said, "History has shown that confrontation, whether in the form of a Cold War, hot war or trade war will produce no winners."