Trump's $ 200 billion tariff bombardment is expected to take place today, media reports said – The New Indian Express

By Express press service

MUMBAI: World markets may continue to bleed as US President Donald Trump is expected to announce new tariffs on Chinese imports for $ 200 billion on Monday, US media reported. The Wall Street Journal said the rates could be lowered to around 10 percent from 25 percent previously indicated by the Trump administration.

The new tariffs are intended to put pressure on Beijing ahead of tough negotiations over its request for technology transfer from US companies. We can expect China to respond in the same way.

Global markets are anticipating punitive tariffs with some trepidation since July, when they were first proposed. Commodity prices are the ones to watch for. Any drop in crude oil prices could help India. It can also be an opportunity for India to improve its exports to the United States in textiles, clothing, gems and jewelry.

More than 1,000 products could be affected by the latest series of levies – from baby car seats to seafood, bicycles, electronic products, printed circuit boards, consumer goods such as furniture, tires and chemicals.

The US media reported that the final details of the new tariff plan were still under development. White House spokesman Lindsay Walters was quoted as saying: "The president has made it clear that he and his administration will continue to take action against China's unfair trade practices.

"The Chinese government has not sent any signal that it intends to defuse trade tensions; he could respond as he has done up to here by applying more tariffs on US exports. As higher prices for imported goods, punishing US exporters will hurt innocent bystanders of Trump's ill-founded trade war, "said the Peterson Institute for International Economics in a paper.

The Krugman installers

"Will it help American workers? Almost certainly not. Instead, it will disrupt existing trade arrangements, impose a second China shock rather than repair the first. And will this bring China to the negotiating table? My problem here is that the US does not seem to have consistent demands, "said Nobel Laureate Paul Krugman.