Tuesday, 23 October, 2018

United States files five WTO cases challenging retaliatory tariffs

China foreign ministry says trade war has become biggest 'confidence killer' for world economy China slowdown weighs on markets as Trump meets Putin
Lloyd Bates | 21 July, 2018, 17:28

Before that, the Trump administration imposed tariffs on steel and aluminum imports from the European Union, Canada and Mexico, prompting retaliatory measures targeting American products, such as motorcycles and blue jeans.

Brookings reported that the dip in the nation's economy symbolizes a mixture of anxieties related to trade and their drive to resolve their debt by selling their assets, as Trump has fulfilled his promise to impose tariffs on Chinese products.

China's Mr Li asked foreign companies to tell him if they had suffered any theft of intellectual property, one of the US's complaints against China's trading methods.

But Renmin University professor Yu Chunhai, who co-authored the report, cautioned that the basis of cooperation between China and the EU cooperation was "not solid as we thought" because there was not much European involvement in the value chain of US-bound Chinese products.

Mexico said it would issue a response within the next 10 days.

"Price hikes caused by the increased tariffs would adversely affect these industries".

Mr Lighthizer said the U.S. would take "all necessary actions" to protect U.S. interests and urged trading partners to "work constructively" with the Trump administration to address overcapacity in both metal sectors.

Brookings Institution Fellow Joseph Parilla said governors don't decide USA trade policy but can engage in direct economic diplomacy to encourage investment, while funding things like education and research at home. China, the EU, Canada, Mexico and Turkey have counterpunched with taxes on more than $24 billion worth of USA exports.

But the story won't end there.

Trump now says no 'time limit' to denuclearize North Korea
The president also famously called North Korea an " extraordinary threat " to the U.S. , justifying more pressure on Pyongyang. Rodman and West have both praised US President Donald Trump and have both been seen wearing "Make America Great Again" caps.

Your Monday Briefing Man United news from 14 and 15 July 2018
A 4-2 win over Croatia in Moscow saw the 25-year-old take the opportunity to dab with the trophy and call out his critics.

Samsung might launch a $300 Bixby smart speaker alongside the Galaxy Note9
It is also said that the company might offer improved visibility under direct sunlight and it expected to flaunt 6.4-inch display. Samsung's new victor phone will be the third flagship for the firm, joining the existing Galaxy S and Galaxy Note lines.

China and Germany sign €20 billion in trade deals in response to United States tariff hikes German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang held talks on Monday in Berlin, and stressed their commitment to a multilateral trade system in the wake of trade disputes with Washington.

China's economy grew at a slower pace in the second quarter, data on Monday showed, with Beijing's trade dispute with Washington challenging the growth outlook for the world's second-biggest economy.

It released an investigation report in March, and imposed tariffs on US$34 billion worth of Chinese goods on July 6 in disregard of 91 per cent opposition in the comments it received.

"These tariffs appear to breach each WTO member's commitments under the WTO Agreement".

For China, the shopping list for domestic consumption is focused on premium shellfish, meaning a shift to producers such as Canada, Russia, Australia, and New Zealand is likely, Beyhan de Jong, an associate analyst at the bank, wrote in a recent article.

China Consul General to Los Angeles Zhang Ping said Thursday that advocates of a trade war should "know that a trade war is not something that can easily be won".

At the time, U.S. officials said, these tariffs were necessary given the findings of Commerce Department investigations under Section 232 of the 1962 Trade Expansion Act. The United States has relied heavily on trade protectionism.

"I urge you and your trade representatives to understand the plight of businesses struggling during this period of extreme uncertainty and do everything in your power to return certainty and stability to global markets", the Wisconsin Republican said.

Workers stand in line next to a container ship at a port in China.

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