Trump China tariff, trade pushes up Make America Great Again hat price

China foreign ministry says trade war has become biggest 'confidence killer' for world economy

In late June, Undercurrent News reported that the Donald Trump administration had asked the US Trade Representative (USTR) to draw up a list of $200 billion-worth of Chinese goods to hit with an additional 10% tariff.

Canada and Mexico, members of the North American Free Trade Agreement (NAFTA) with the U.S., have not been spared the Washington offensive on steel and aluminum and have imposed their own counter-tariffs on United States goods.

The WTO faces collapse after the United States told the organisation last week that the "reckoning" over China's unfair trade policies is urgent and is too big for the WTO to handle.

The spokesperson also said the United States turns to diverse excuses, among which the issue of national security to créate barriers to business activities and investment of China in that country.

"Price hikes caused by the increased tariffs would adversely affect these industries".

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Hebei Dishixiao Gloves Manufacturing Company, which exports hats, scarves and gloves from northern China's Hebei province - including the ubiquitous red Trump caps - said that its clients in the USA would also have to raise their prices to cover the effect of the new tariffs.

The U.S.is filing a challenge to the tariffs that China, the European Union and several other countries imposed on the U.S.in retaliation to U.S. tariffs on their steel and aluminum.

But the story won't end there.

"China will never take unilateral measures easily or violate WTO fundamental rules".

The experts said that problems go beyond the failure to conclude the WTO's stalled Doha round, launched in 2001, with some national policies distorting trade and threatening to undermine the system. "We're hurting those suppliers' inputs, and we're hurting the American companies that are working in China with intermediate goods from the USA and elsewhere to produce what they're producing".

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Several of the more than 20 governors attending the annual meeting of the National Governors Association said shifting USA trade policies are rattling markets for agricultural commodities and complicating decisions by foreign investors.

In the US, South American and Southeast Asian shrimp and tilapia exporters are best positioned to sell more there as Chinese imports become costlier.

China Consul General to Los Angeles Zhang Ping said Thursday that advocates of a trade war should "know that a trade war is not something that can easily be won". "We have a lot of direct investment in the United States of America; we have a lot of direct investment in China". Opponents of the new trade restrictions lined up to vent as the Commerce Department held a hearing on whether auto imports pose a threat to USA national security.

At the time, USA officials said, these tariffs were necessary given the findings of Commerce Department investigations under Section 232 of the 1962 Trade Expansion Act.

That could include increasing tax rebates - known as the value-added tax credit rate - to exporters in China which would raise their income by between 3.5 percent and 4 percent.

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Members are barred from discriminating against each other in their trade practices, meaning China's exports were shielded from protectionist moves by other countries.

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