Tuesday, July 3, 2018

Time difference gives China head start on tariff war with U.S.

China to start on tariff war with U.S.
China and the United States are expected to launch a potentially damaging trade war, but Beijing could hit its rival with tariffs first.

The Chinese government could enjoy early mover advantage this Friday, because of the time difference between Washington and Beijing, Japanese newspaper Asahi Shimbun reported Tuesday.

According to the report, the Chinese authorities will allow its tariffs against U.S. products to go into effect starting at 12 a.m. Friday.

When Beijing levies those extra charges against products like U.S. soybeans, whiskey, and automobiles, it will be 6 p.m. Thursday in Washington.

China will impose the taxes on a total of $34 billion worth of U.S. goods.

The trade war could hurt multinational carmakers that sell imported U.S. vehicles in China.

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