CHINA/TARIFFS/TRADE DEALS/TRUMP AS PRESIDENT: “China stepped up its trade fight with the U.S., retaliating against proposed tariffs on Chinese goods by targeting high-value American exports, from airplanes to soybeans, in a tactic Beijing officials say is meant to secure a truce. Hours after the Trump administration unveiled plans to impose tariffs of 25% on Chinese products worth $50 billion, China’s State Council announced Wednesday [4-4-18] that it would levy penalties of the same rate on U.S. goods of a similar value. While the Trump list would affect 1,300 categories of goods, China critically is targeting a narrower range of 106 types of U.S. goods, many of them high-profile. Soybeans and smaller commercial passenger planes, mostly made by Boeing Co. , are the most valuable U.S. exports to China, worth nearly $23 billion last year.”
-Lingling Wei and Yoko Kubota, “China Tariffs Threaten U.S. Cars, Planes and Soy in Response to Trump,” The Wall Street Journal, April 4, 2018, 8:39am