Retaliation:China Will Impose Tariffs Ranging From 5 percent To 25 Percent On U.S. Goods

So, the trade war gains in intensity.  China plans to set import tariffs against $60 billion worth of U.S. goods.... I suppose, it's a first step and message...Bad days are coming.

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200>60 I guess

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We can expect an another terrible week in the stock markets.

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I can't smell the carbon monoxide, but I can smell a recession.

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both sides will pay ... no winner in game like this

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1 hour ago, 50 shades of black said:

Sorry farmers, but it's going to be rough now...

Why sorry? Most farmers voted Trump, didn't they?

So, we got us a trade war, about time. Trump's been spoiling for a fight long enough now. Never worry that Xi picked both the time and the battlefield. You may choose to think differently, time will tell.

Thing is, I suppose, Xi Jinping has better control over his nation than Donald Trump has. Xi has been priming his people about the totally unfair Trump and his vile Americans. Most Chinese believe Xi, less than 50% Americans believe Donald.

Donald will try and find other issues, somewhere in the world, that will give him brownie points inside his USA voters base, thereby alienating more nations and more peoples in the world. And ........ brownie points don't count for real 🙂

Pinto is right: "both sides will pay ... no winner in game like this", but USA will eventually be off worse.

Have fun.

 

 

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2 hours ago, rainman said:

200>60 I guess

Always a winning bet 😎, but good luck to you too.

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2 hours ago, ThunderBlade said:

So, the trade war gains in intensity.  China plans to set import tariffs against $60 billion worth of U.S. goods.... I suppose, it's a first step and message...Bad days are coming.

Bad days may be coming, .... true. I would like some clarity. Just let's see which party will deliver the semi-mortal blow to the other one. I just can't believe that it will be the unholy triumvirate.

Interesting times indeed.

Have fun.

 

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1 hour ago, RuudinFrance said:

Why sorry? Most farmers voted Trump, didn't they?

So, we got us a trade war, about time. Trump's been spoiling for a fight long enough now. Never worry that Xi picked both the time and the battlefield. You may choose to think differently, time will tell.

Thing is, I suppose, Xi Jinping has better control over his nation than Donald Trump has. Xi has been priming his people about the totally unfair Trump and his vile Americans. Most Chinese believe Xi, less than 50% Americans believe Donald.

Donald will try and find other issues, somewhere in the world, that will give him brownie points inside his USA voters base, thereby alienating more nations and more peoples in the world. And ........ brownie points don't count for real 🙂

Pinto is right: "both sides will pay ... no winner in game like this", but USA will eventually be off worse.

Have fun.

"Most Chinese believe Xi". Lol, you have a source for that? Because All Chinese I know do Not believe Xi. Ni shwo guo yi? 

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2 minutes ago, Ward Smith said:

"Most Chinese believe Xi". Lol, you have a source for that? Because All Chinese I know do Not believe Xi. Ni shwo guo yi? 

Would you agree that I'm right about the "less than 50% Americans"? Why would I be wrong about the other statement? LOL.

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1 minute ago, RuudinFrance said:

Would you agree that I'm right about the "less than 50% Americans"? Why would I be wrong about the other statement? LOL.

I asked you, in mandarin, if you spoke mandarin. Apparently you don't. Apparently I do. That should indicate I know a few more Chinese than you do. As for your 50% number, are those the same brilliant pollsters who gave Hillary a 98% chance of winning the election? Oh, wait it was the RUSSIANS! Lol, of which you are one no doubt. 

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1 minute ago, Ward Smith said:

I asked you, in mandarin, if you spoke mandarin. Apparently you don't. Apparently I do. That should indicate I know a few more Chinese than you do. As for your 50% number, are those the same brilliant pollsters who gave Hillary a 98% chance of winning the election? Oh, wait it was the RUSSIANS! Lol, of which you are one no doubt. 

How good is your Dutch?

https://www.nrc.nl/nieuws/2019/05/13/bij-de-mcdonalds-in-beijing-zijn-de-chinezen-niet-bang-voor-de-vs-a3960033

https://www.nrc.nl/nieuws/2019/05/10/iran-waarschuwen-is-de-wereld-op-zijn-kop-a3959863

Quote: "Apparently you don't. Apparently I do. That should indicate I know a few more Chinese than you do."

Today, it will not get any better. Thank you, Ward. Nothing could have made a better day🐽

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14 minutes ago, RuudinFrance said:

How good is your Dutch?

https://www.nrc.nl/nieuws/2019/05/13/bij-de-mcdonalds-in-beijing-zijn-de-chinezen-niet-bang-voor-de-vs-a3960033

https://www.nrc.nl/nieuws/2019/05/10/iran-waarschuwen-is-de-wereld-op-zijn-kop-a3959863

Quote: "Apparently you don't. Apparently I do. That should indicate I know a few more Chinese than you do."

Today, it will not get any better. Thank you, Ward. Nothing could have made a better day🐽

Don't speak Dutch, but can read a little German. And all this time I thought you were being Gallic ironic with the over the top name: "rude in France" as your nom de guerre. Having been there multiple times I chuckled out loud at your name choice. 

From your article:  

Quote

Pei Jing, de moeder van Jinhan, zegt dat ze heel veel van haar land houdt en er veel voor over heeft. Ze werkt voor de metro in Beijing en is lid van de Communistische Partij. Ze zit met haar vriendin Guo Yanjuan (38) te lunchen.

So, we see the "man in the street" being interviewed just happens to be a woman member of the communist party? The self same communist party that accepts less than one half of one percent of the Chinese citizens into its exalted ranks? That's your source? Lol, congrats you made my day too comrade, or should I say tovarisch?

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3 hours ago, Ward Smith said:

Don't speak Dutch, but can read a little German. And all this time I thought you were being Gallic ironic with the over the top name: "rude in France" as your nom de guerre. Having been there multiple times I chuckled out loud at your name choice. 

From your article:  

So, we see the "man in the street" being interviewed just happens to be a woman member of the communist party? The self same communist party that accepts less than one half of one percent of the Chinese citizens into its exalted ranks? That's your source? Lol, congrats you made my day too comrade, or should I say tovarisch?

Not gonna play in a pissing contest, you win. Congratulations.

As stated before: "Time will tell".

Have fun.

 

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(edited)

3 hours ago, RuudinFrance said:

How good is your Dutch?

My Dutch just happens to be superb. 

And I print under my own name, to take both credit and blame for everything I do and write. 

Jan van Eck   

P.S.  I choose to live in America.  Really nice people live in America.  Generous, outgoing, and kind.  And, no gigantic looming Communist Party to get worried about.  

Edited by Jan van Eck
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3 minutes ago, Jan van Eck said:

My Dutch just happens to be superb. 

And I print under my own name, to take both credit and blame for everything I do and write. 

Jan van Eck   

Unfortunately, I can only speak English (due to dyslexia, although I had mandatory 4 years of Latin and 2 years of German in high school, which was a total waste of my time).

My wife of more than 20 years is Chinese Malaysian, and she speaks 7 languages.

And on this forum I use my real name and real photo.  Not in any danger of someone trying to steal my quirky identity here.  And mostly I'm here for amusement and shooting from the hip about oil & gas + its intertwined politics.

And over on Chan forums where everyone is anonymous, trolling can be a sport.  But it can also be great practice for writing coherent, standalone arguments which rely solely on sound reasoning and on its own merits within the confines of a single comment, as each comment is anonymous.

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Why are some people unable to have frank and critical discussions without getting offended by critique. Read Ray Dahlio 'Principles', difference of opinions can often be insightful if you keep an open mind.

Secondly, yes, arguments are sometimes founded on subjective reasoning and prejudices, however, take comfort alone in knowing their falsehoods.

To chime in, I speak Franglais and English ;).

 

 

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3 minutes ago, Matthew w said:

To chime in, I speak Franglais and English ;)

Lemme guess:  another Canadian!  

What really impresses me about today's generation of Canadians is that even all the way out in B.C. the folks below thirty are fluent in both languages.  Just goes to show:  you put your mind to it, you can learn another language.  Fun, too!

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Maybe got to get a few issues straight here:

Friend Ward started talking funny languages. I just followed up with articles that you would otherwise never have seen. Never asked Jan about his Dutch, but if the shoe fits … fine. Happy to see that he is fluent and that Tom’s wife speaks seven languages. Mine are only Dutch, English, Norwegian, German and French. I should have picked up Arab (Kuwait, Saudi), Bahasa Melayu (Miri, Johor Bahru) while working those locations, but I was too lazy. Could have done some Chinese as well when in Yingjiang, just too awkward.

I dragged my wife of >40 years with me all over the world, to the extent that my son was born in South Africa and my daughter in Norway.

Worked in USA as well and “YES”, confirmed, “YES”: “Really nice people live in America.  Generous, outgoing, and kind.” Personal experience: Very Nice People.

And than you got a few others, as well 😱

 My name is Ruud and I live in France, hence “RuudinFrance”, google it and you’ll find the fora I’m on, not that it can possibly be of any interest.

 

None of you will have any doubt that I detest Trump, Bolton and Pompeo. In my eyes they are a danger to the world. Oh, yes, there are more dangers. Gotta be careful with Vladimir, Jinping, Jair, Nicolas, Hassan and don’t forget Bibi, never ever forget Bibi.

Most of these characters play at politics within an environment of “games rules”.

The USA doesn’t like these “games rules” any longer, because they don’t know how to play the game, within the specific set of rules, and yet WIN THE GAME. Americans are not devious enough. Ah, but they do slap patents on deceases they do. Talk about being devious.

So now? Now we throw away all the rules and unilaterally make new ones for all the world to follow. Can you understand how preposterous that sounds? Everybody will roll over and will want to be tickled on the belly? Seriously?

Hassan Rouhani may attack tankers at Hormus, or at terminals. Have we already seen how that may work?

(Just consider what the world at large will think about the over-reaction of the US military), making friends.

Xi Jinping may decide to play tough, a full trade war, for at least a year, maybe two. China can take the beating better than USA can.

Putin may decide to favor China for a couple of years. All energy needed.

And Bibi may attack with nuclear weapons. Good man, Bibi is.

As stated before: “Interesting times, we live in.”

Have fun.

Ruud.

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2 hours ago, Jan van Eck said:

Lemme guess:  another Canadian! 

Canadian indeed.

If only we could gear that tenacity to reasonable thought when it comes to the necessity of hydrocarbons for the economic well being of our economy. That's a discussion for another thread though!

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46 minutes ago, Matthew w said:

Canadian indeed.

If only we could gear that tenacity to reasonable thought when it comes to the necessity of hydrocarbons for the economic well being of our economy. That's a discussion for another thread though!

Perhaps Canadians will vote out Trudeau and get rid of his economy-killing Socialist and anti- oil & gas agendas.

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China to raise tariff on US LNG to 25% but excludes US crude from list

China will increase tariffs on US LNG imports to 25% from 10% effective from June 1, the State Council under the Finance Ministry said in a statement late Monday, but it left out US crude imports from its current tariff lists.

Higher tariffs on LNG will hamper further trade flows between the US and China as upcoming summer peak demand in North Asia could have raised prices enough to offset the previous 10% tariff and create arbitrage to boost US LNG imports into China.

The absence of crude oil on the tariff list also leaves leeway for the Chinese government to maneuver in future trade negotiations.

The hike is part of a wider increase in tariffs on $60 billion of products imported from the US, in response to the US raising tariffs on $200 billion worth of Chinese goods last week, the State Council said.

"The measures by the United States have led to an escalation of Sino-US economic and trade frictions, contrary to the consensus between China and the United States on resolving trade differences through consultations, jeopardizing the interests of both sides and not meeting the general expectations of the international community," it said in a statement.

The State Council however did not say how it would respond to the US Trade Representative's statements last week that Washington was preparing to impose tariffs on the $300 billion in Chinese products that were still untaxed.

LNG IMPACT

Chinese end-users have been turning away US-sourced cargoes since the 10% tariff on LNG went into effect in September 2018. Since then, market participants reported several resales or diversions of US-origin cargoes from China to other Northeast Asian countries by the state-owned national oil companies and their suppliers.

"With the hike [from 10% to 25%], the spot market at least, is not expected to change significantly in how people trade around US cargoes," a Chinese end-user said. "Chinese buyers have already been avoiding those cargoes at the start," the source added.

China received four cargoes from the US in 2019 so far, compared to 23 cargoes in the same period in 2018, according to S&P Global Platts' ship tracking software cFlow.

Further out, some Chinese LNG importers said the tariff hike had made them more cautious about US LNG deals and expected more Chinese buyers to back away from US suppliers due to uncertainty about the outcome of US-China trade war.

"It feels more like a long-term issue - killing off term contract deals and supply project investments in the US," a second Chinese end-user said, but declined to be named due to the sensitivity of the issue.

POSSIBLE TRADE EXEMPTIONS

China would also conduct trial exemptions for those products imported from the US on which additional tariffs had been levied in three different batches since last year, the State Council said.

This will include LNG, propane, butane, naphtha, jet fuel, fuel oil, gasoline and gasoil, all of which have faced additional tariffs previously, the State Council said.

The importers and consumers of these US products can apply for exemption via the respective industry associations based on three criteria -- it must be hard to find replacement resources for the US cargoes, the tariffs have caused serious economic damage to the applicants and the tariffs have "major negative structural impacts on related industries," the statement said.

The impact on the industries could include "industrial development, technological progress, employment, environmental protection, etc, or cause serious social consequences," the State Council said.

The first batch of applications for exemption will be accepted from June 3, and the deadline for applications is July 5. The second batch of applications for exemption will be accepted from September 2 and the deadline is October 18, it said. The State Council has yet to provide further details on the exemptions.

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5 hours ago, RuudinFrance said:

Maybe got to get a few issues straight here:

Friend Ward started talking funny languages. I just followed up with articles that you would otherwise never have seen. Never asked Jan about his Dutch, but if the shoe fits … fine. Happy to see that he is fluent and that Tom’s wife speaks seven languages. Mine are only Dutch, English, Norwegian, German and French. I should have picked up Arab (Kuwait, Saudi), Bahasa Melayu (Miri, Johor Bahru) while working those locations, but I was too lazy. Could have done some Chinese as well when in Yingjiang, just too awkward.

I dragged my wife of >40 years with me all over the world, to the extent that my son was born in South Africa and my daughter in Norway.

Worked in USA as well and “YES”, confirmed, “YES”: “Really nice people live in America.  Generous, outgoing, and kind.” Personal experience: Very Nice People.

And than you got a few others, as well 😱

 My name is Ruud and I live in France, hence “RuudinFrance”, google it and you’ll find the fora I’m on, not that it can possibly be of any interest.

 

None of you will have any doubt that I detest Trump, Bolton and Pompeo. In my eyes they are a danger to the world. Oh, yes, there are more dangers. Gotta be careful with Vladimir, Jinping, Jair, Nicolas, Hassan and don’t forget Bibi, never ever forget Bibi.

Most of these characters play at politics within an environment of “games rules”.

The USA doesn’t like these “games rules” any longer, because they don’t know how to play the game, within the specific set of rules, and yet WIN THE GAME. Americans are not devious enough. Ah, but they do slap patents on deceases they do. Talk about being devious.

So now? Now we throw away all the rules and unilaterally make new ones for all the world to follow. Can you understand how preposterous that sounds? Everybody will roll over and will want to be tickled on the belly? Seriously?

Hassan Rouhani may attack tankers at Hormus, or at terminals. Have we already seen how that may work?

(Just consider what the world at large will think about the over-reaction of the US military), making friends.

Xi Jinping may decide to play tough, a full trade war, for at least a year, maybe two. China can take the beating better than USA can.

Putin may decide to favor China for a couple of years. All energy needed.

And Bibi may attack with nuclear weapons. Good man, Bibi is.

As stated before: “Interesting times, we live in.”

Have fun.

Ruud.

How do you feel about your illustrious leader Macron? He is almost as popular as Theresa May. What do you think the European Union will look like after the upcoming election? Will there be any real change away from globalist elitism? Will Brexiteers be given justice? 

 

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47 minutes ago, ronwagn said:

How do you feel about your illustrious leader Macron? He is almost as popular as Theresa May. What do you think the European Union will look like after the upcoming election? Will there be any real change away from globalist elitism? Will Brexiteers be given justice? 

 

Ron, sorry to have to inform you that Macron is not my illustrious leader. I'm Dutch and we have a Royal Family. Our head of state is King Willem-Alexander and I'm pretty satisfied with him. Can you imagine: a head of state with 30 years of training and education in the "head of state" business, before actually becoming the Head of State. Our king knows "Head of Stating" a lot better than many others we're all familiar with.

Brexit? I've totally lost patience with them. May they get their desires filled and suffer the consequences. Personally I believe a "no deal" Brexit to be their best option. It'll be 20 years of severe suffering before they come begging to be allowed back in. In those 20 years the USA and the rest of the world (EU only a little bit, always have to keep options open) will have raped and pillaged the country and its people. They're a sorry lot with no future in the near future (unless they decide to stay after all).

What we see in EU is that populist parties are making head-ways. These parties claim to want to exit the EU and Euro. Problem is that the majority of people in any EU nation actually wants to remain in the EU and Euro. So, there's some discrepancy between what people want and what they vote. After they see the abhorrent destruction of the UK in the next few coming years, EU voters will come to their senses.

Europe will have to become a federal "United States of Europe". Nation states will remain autonomous in much and only certain tasks will become "Federal". We do have to handle a few "National Ego's" though. History and "National Pride" will play havoc with any progress. Still, it's got to be done. We do need to be "one 550++ million consumers block" represented by one unified government, when it gets to e.g. trade, military, taxes and so on.

Globalist elitism? Like in G-S, Riverstone, Rothschild family (of late, they're selling Rembrand's at $100/200million a pop -Marten & Oopjen, Vaandeldrager-), or globalist elitism as in Kardashian and other celebrity families? There is very little wrong with the principle of capitalism, it gives humanity "Progress". There's very little wrong with the principle of globalism, it gives humanity "Prosperity". So why the f*ck do we find us in this untenable situation we find ourselves in?

G-S robs, for a client, the Malaysian people of $6 billion and gets paid for this venture, the neat sum of $600 million. A good thing that DOJ is going for them, may they rot in prison (sorry, I'm not always friendly). And so, everyone believes this to be just a single case? Sure, it's a one off.

Globalist elitism: https://aspe.hhs.gov/system/files/pdf/259996/ComparisonUSInternationalPricesTopSpendingPartBDrugs.pdf

"The prices charged by drug manufacturers to wholesalers and distributors (commonly referred to as ex-manufacturers prices) in the United States are 1.8 times higher than in other countries for the top drugs by total expenditures separately paid under Medicare Part B. U.S. prices were higher for most of the drugs included in the analysis, and U.S. prices were more likely to be the highest prices paid among the countries in our study."

Please check last page.

So, to your question: "Will there be any real change away from globalist elitism?", the answer will have to be: "Only if you do it yourself, buddy, only if you do it yourself. Gather the suppressed of the world and take it all back, so you can screw it up again in your own peculiar way. Sorry, stupid answer to a not overly and/or considerate, clever question.

Time to stop, got some mowing of the grass to attend to.

Have fun.

 

 

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