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U.S. to launch public hearings on additional China tariffs next week

Stock MarketsJun 14, 2019 07:05PM ET
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© Reuters. FILE PHOTO: An attendent cleans the carpet next to U.S. and Chinese national flags in Beijing

WASHINGTON (Reuters) - The U.S. Trade Representative's Office on Monday will kick off seven days of testimony from U.S. retailers, manufacturers and other businesses about President Donald Trump's plan to hit another $300 billion worth of Chinese goods with tariffs.

The hearings beginning Monday will end on June 25, the USTR said in a statement on Friday. That timeline means Trump would not be able to trigger the fresh wave of tariffs until after July 2, when a seven-day final rebuttal comment period ends.

U.S.-China relations have deteriorated since Trump accused Beijing in early May of reneging on commitments to change its ways of doing business with the rest of the world.

Since then, Trump raised tariffs to 25% on $200 billion of Chinese goods and ordered his trade representative to prepare tariffs on another $300 billion, effectively covering almost all Chinese exports to the United States.

Trump has said he wants to meet with Chinese President Xi Jinping during June 28-29 G20 leaders summit in Japan, but neither government has confirmed a meeting.

The proposed tariffs on another $300 billion are a further "response to China’s unfair trade practices related to technology transfer, intellectual property, and innovation," USTR said in its statement Friday.

The tariffs will hit consumer goods hard, including cellphones, laptop computers, toys, video game consoles, television sets, clothing and footwear.

The list of more than 300 scheduled witnesses includes representatives from retailer Best Buy, toy maker Hasbro Inc (NASDAQ:HAS) vacuum cleaner maker iRobot, faucet maker Moen and other firms and trade groups in a diverse range of industries.

U.S. to launch public hearings on additional China tariffs next week
 

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Changyi He
Changyi He Jun 15, 2019 7:10PM ET
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tariffs are pushing US into recession. China is the apparent winner so far
Gary Gee
TheGman Jun 15, 2019 7:10PM ET
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china is spending to keep it afloat. global demand for chinese exports globally is diminishing just from global slowdown. China might have labor strikes to deal with again if there's not enough demand to maintain labor levels.
Wilson Chen
Wilson Chen Jun 15, 2019 7:10PM ET
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Do not just dream. Check export number to find out who is diminishing.
Gary Gee
TheGman Jun 15, 2019 7:10PM ET
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not dreaming, just reading global financial reports. China has some peculiar reporting consistencies that are not normal for some of their telecom financials leading some to believe they're being cooked. China just bailed out / took control of one of their banks this week to avoid a financial implosion. doesn't matter to me if you're right or want to be. I've got defensive positions and cash on hand to make the best of whatever happens. It's not a matter of pride, it's fiscal reality. I don't invest on a dream...or anything suspicious for that matter. I'd rather take my chips home.
Gary Gee
TheGman Jun 15, 2019 7:10PM ET
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also i can't understand for the life of me, why are chinese nationals trolling these forums with national pride? "we're gonna win" "the world needs china". If I've learned anything over the years it's that nobody is irreplaceable. Not even China's economy. I'm waiting to see how this plays out, I don't think anyone in these forums has good enough information to predict what will happen, but it's certainly a risk off in those questionable areas for sure.
Matthew NT
MatthewBT Jun 15, 2019 12:24AM ET
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While Trump arrogantly play his game of chicken with escalating tariff war, Trump uses American public as pawn for this reckless game. American public are paying for these tariff while Trump damages US relationship with not just China, but just about every country in the world. Europe, Asia, Middle East have made it clear they will not join Trump's reckless attempt to cut China off. Many continue to use Huawei's technology. Deals need to be win-win for both sides, not heavily biased to just make Trump look good while everybody else suffers & in the process US reputation suffers greatly as result of Trump selfish actions.
Lloyd McCord
Lloyd McCord Jun 15, 2019 12:24AM ET
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When did the name 'Matthew' become popular in China?
Paul Manefee
Paul Manefee Jun 14, 2019 9:45PM ET
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Corporate America, stop being so greedy, it’s time you invest your profit in protecting and safe guarding the freedom and democracy of American people
David Wong
David Wong Jun 14, 2019 9:45PM ET
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Americans need made in China. Without China, many Americans can become homeless. That is how powerful the production of China is. The economy needs Made In China products. Without this, we will see many bankrupcies. That is how powerful Made In China is.
Bill Chan
Bill Chan Jun 14, 2019 9:45PM ET
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Where you get freedom? You have to pay more without objection
Lloyd McCord
Lloyd McCord Jun 14, 2019 8:12PM ET
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Let's be sure to keep the 'needs' of over-paid CEOs in perspective when going forward with what's best for America's future. Those whining billionaire's perspective and resultant opinions should always be viewed as suspect.
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Bill Chan
Bill Chan Jun 14, 2019 8:12PM ET
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Ya, hire China CEO will be must more lower paid
David Wong
David Wong Jun 14, 2019 8:12PM ET
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No countries can replace the production in China. They have invested hundreds of billions over the decade, and the workers are top notch skillful at producing high quality products at a low price. The ones that are moving out to Vietnam and other countries are run by chinese. China has started investing in the other nations, so those productions are still own led by China. China thinks decades out so it is not easy to win against China.
Lloyd McCord
Lloyd McCord Jun 14, 2019 8:12PM ET
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David Wong Actually, Mexican labor is cheaper and better skilled. China imports over 80% of their oil and LNG, has a massive population that is aging out rapidly, a near zero birth rate, and no hopes a blue water navy without going to war with their neighbors. Add in a thousand other brutal and real problems and limitations, and it is pretty easy to see that China waaay over played their hand recently, and already know they've hit a brick wall economically. China's gini coefficient already exceeds the US, and with their population, we'll see massive wealth flight increasing as the demise of their autocratic dictatorship nears. China is DOOMED dude. You seriously need to read more, and ignore the CCTV kool-aid.
Gary Gee
TheGman Jun 14, 2019 8:12PM ET
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I have one word.... tankman Tiananmen Square...firewall engaged **** see ya in 2 more weeks Dave :)
Gary Gee
TheGman Jun 14, 2019 8:12PM ET
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unfortunately china can only read what their government lets them. i laughed when they put out travel warnings to the US. I'm like, really?!? You realize we're a democracy right? We have checks and balances and things like warrants that require probable cause....
 
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