CHINA/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “Accusing the United States of ‘typical trade bullying,’ China on Friday [7-6-18] imposed $34 billion in retaliatory tariffs on American soybeans, cars and other products, suggesting dim prospects for resolving a potentially bruising trade war between the two economic powerhouses. Beijing said on Friday that its levies had kicked in immediately after the Trump administration’s tariffs went into effect, just past midnight in Washington. The 545 goods targeted by China for tariffs, which include beef, seafood, dairy and other farm goods in addition to automobiles, were chosen to hit President Trump’s supporters in the agricultural and industrial parts of the Midwest. As it has in the past, China used the moment to cast itself as a defender of the global trade order. Beijing officials have portrayed Mr. Trump’s threats to tax as much as $450 billion worth of Chinese goods as a threat to global prosperity…China has become a key market for brands such as Apple, Nike, Starbucks and General Motors. Consumer boycotts have proven effective in Beijing’s earlier disputes with South Korea, Japan and the Philippines. But targeting American goods could be trickier. The iPhones, Chevrolets and other goods that American companies sell in China are often made in China, and by Chinese workers.”
–Raymond Zhong, “China Strikes Back at Trump’s Tariffs, but Its Consumers Worry,” The New York Times online, July 6, 2018