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China Hits Back on Tariffs

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“China said it would levy an additional 25 percent tariff on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft, in response to proposed American duties on its high-tech goods,” Bloomberg reports.

“Matching the scale of proposed U.S. tariffs announced the previous day, the Ministry of Commerce in Beijing said the charges will apply to around $50 billion of U.S. imports. Officials signaled that the implementation of the proposed measures will depend on when the U.S. applies its own after a period of public consultation.”

Playbook: “This could completely dwarf the good news Republicans have celebrated from tax reform and screw up their strategy to use it as the GOP’s main selling point in the midterms.”

CNBC: Stock futures plunged “as concerns over a potential trade war between the U.S. and China intensified.”

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goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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