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China Trade War - Friday 10/5/19 Tariff Day?

  1. #1

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    China Trade War - Friday 10/5/19 Tariff Day?

    So, apparently China rewrote the negotiated document:

    https://www.cnbc.com/2019/05/08/chin...l-sources.html

    Trump tweeted that tariffs are going to be raised on Friday on another US$ 200B worth of Chinese imports:

    https://news.yahoo.com/trump-announc...165640074.html

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  2. #2

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    China says, "Don't even think about it":

    “It was quite unexpected,” said an editorial piece in the People’s Daily, a government mouthpiece. “The U.S. could be gesturing to flip the table to see if they could get more [from the talks].”

    But Beijing is showing no signs of backing down. “Things we think are advantageous for us, we will do it even without anyone asking,” the People’s Daily reported on its WeChat account on Tuesday. “When things that are unfavorable to us, no matter how you ask, we will not take any step back. Do not even think about it.”
    https://news.vice.com/en_us/article/...think-about-it

    Trump says the Chinese team is here to make a deal:

    https://www.cnbc.com/2019/05/08/trum...ke-a-deal.html
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  3. #3

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    And Trump being Trump, claims that the Chinese are waiting for a Democrat to become president.

    So, what are the odds that there will be a positive outcome to this week's talks?

    Or are we looking at an escalation in tariffs and more economic turmoil?

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  4. #4

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    My guess is deal or no deal, tariffs are going to be there 1) to persuade China to speed up the process 2) China cant be trusted on any promises written or otherwise.. Considering recent last minute reneging from China, chances are Friday's tariffs will be increased anyway and further increase on rest of the items might be postponed, if there is a deal..

    If China somehow manages to make a deal with all tariffs removed, will be a big victory for China and Trump will be a sore looser without any leverage to persuade China to fulfill promises (Same as things promised as part of WTO deal years ago).. Bottom-line is if US wants to contain China's supremacy and wants pie of largest market in the world, its now or never (In fact its already too late)..

    Finally, if these was all only for theatrics and eccentric Trump is satisfied with short-lived deal-making glory without any tariffs, my money will be on China..

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  5. #5

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    and here it goes, aatsocks says

    Office of the United States Trade Representative has issued a notice to the Federal Register, whereby the tariffs on US$200 billion worth Chinese goods will be hiked to 25% from 10%, with effect from 00:00 on 10 May (US time) or 12:00 on 10 May (Hong Kong and Beijing time)
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  6. #6

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    HSI plunged 450 points and keeps going.... how low can you go


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    I'll go for 25,000


  8. #8

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    Potential for further second order impacts?
    https://www.chinalawblog.com/2019/05...o-prepare.html

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  9. #9

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    @Apjace - thats a really good read. Thanks.

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  10. #10

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    Despite the beautiful letter, seems like we have 30 mins to go.

    Wonder if today's HK gains will disappear or if the State Team will take over after lunch.

    “He just wrote me a beautiful letter. I’ve just received it and I’ll probably speak to him by phone,” said Trump. Later he quoted Xi as saying in the letter: “Let’s work together, let’s see if we can get something done.” The US president added he believed a deal could be done this week, but accused China of sabotaging recent talks by seeking a renegotiation.
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