Wednesday, 22 August, 2018

Trump touts effectiveness of tariffs in string of tweets

Media playback is unsupported on your device                  Media caption The'danger of a US-China trade war Media playback is unsupported on your device Media caption The'danger of a US-China trade war
Lloyd Bates | 08 August, 2018, 21:00

China has already retaliated against some of these measures. "We are using them to negotiate fair trade deals", Trump said.

The trade war kicked off in earnest in July when Trump imposed a 25% tariff on $US34 billion worth of Chinese imports to the USA, prompting China to respond in kind.

Days later, Washington unveiled a list of another $200 billion in Chinese goods, from areas as varied as electrical machinery, leather goods and seafood, that would be hit with 10 percent import duties. Beijing retaliated by imposing similar charges on the same amount of USA products. The paper went on to say "China will eventually defeat the trade blackmail of the USA and it is impossible to force China into surrender to the US coercion".

Full lists of USA products subject to different levels of additional tariffs are available on the website of the Ministry of Finance.

FILE - White House National Economic Council Director Larry Kudlow speaks with reporters at the White House in Washington, June 27, 2018. United States manufacturers are considering expanding outside the country to avoid the widening trade conflict, according to the Institute for Supply Management's July survey. Rather, the USA importers bringing the products into the United States pay the tariffs.

"Market participants foresee a relatively stable Chinese currency in the near term, without fear of impacts from the US-China trade dispute".

The sanctions levied by China will affect almost 38 per cent of all American goods, amounting to 170 billion dollars.

Did Saudi Arabia Just Threaten Another 9/11 Attack on Canada? Well, Kinda
Among the arrested is Samar Badawi, an award-winning women's-rights activist who sought to abolish the country's male-guardianship laws.

Chelsea only need one more player - Sarri
Christophe Henrotay, the agent of Chelsea goalkeeper, Thibaut Courtois has told the club to let his client move to Real Madrid . Chelsea winger Pedro has signed a one-year contract extension, the Premier League club announced on Friday.

United Nations Command Transfers Korean War Remains Home to the U.S.
But many experts say those are neither irrevocable nor serious steps that could show the country is honest about denuclearization. Initial forensic analysis suggested that the remains were likely to be those of American service members, the US military said.

Another reason China is anxious is because Washington's actions have come when the domestic Chinese economy is going through a bad time.

Chinese authorities - bracing for economic fallout - have taken a range of measures in recent weeks to bolster the economy.

"Tariffs are working far better than anyone ever anticipated", Trump tweeted, citing losses in the Chinese market. Farmer groups have decried the trade tensions as soybean futures slumped. From Apple to General Motors, a long list of large US enterprises have transferred extensive operations to China and could be vulnerable to any response from Beijing.

The polar fortunes of the USA agricultural industry cut off from Chinese markets and Chinese electronics firms cut off from the U.S. market makes it clear that in an ever more inter-connected world, while a trade war is mutually detrimental to all "combatants", in the specific case of China and the United States it is American producers that are clearly worse off than their Chinese counterparts in other industries.

An all-out trade war could overshadow Trump's otherwise solid economic record of low unemployment and stimulus-fueled growth. The timing of Friday's announcement hinted at that conflict.

Timing will depend on the actions of the United States, the Chinese Commerce Ministry said in a separate statement. "Obviously, the USA tariffs won't help and they are going to cause some damage", he said.

Beijing yesterday revealed more than 5,200 American-made products would be slapped with new levies in response to a threat by Donald Trump's administration to impose additional duties on $200bn of Chinese goods. "The implementation date will be subject to the actions of the USA, and China reserves the right to continue introducing other countermeasures". This article is strictly for informational purposes only.

Recommended

  • Matteo Kovacic set to sign on loan from Real Madrid

    Matteo Kovacic set to sign on loan from Real Madrid

    Modric then went into the World Cup in buoyant move, and he managed to lead his Croatian side to the World Cup final. If Modric does want to leave, it would take quite an offer for him to do so.
    Footage shows botched eyebrow job lead to wild brawl in nail salon

    Footage shows botched eyebrow job lead to wild brawl in nail salon

    Thomas says that when she refused to pay for the eyebrow job that she thought was done poorly, an argument ensued and escalated. Shamile Smiley McBroom added, " Video of a grandmother and patrons being hit with brooms does not deserve service".
    Everton on brink of signing Yerry Mina from Barcelona

    Everton on brink of signing Yerry Mina from Barcelona

    It is said Mina will sign a five-year deal with the Merseyside giants with negotations between both parties sorted swiftly. Everton has now completed their third major signing of the season having already captured Richarlison and Lucas Digne.
  • Active-Duty Army Engineers Being Sent to Fight California Wildfires

    Active-Duty Army Engineers Being Sent to Fight California Wildfires

    Barely a third of it is under control, according to the California Department of Forestry and Fire Protection . That fire, which is now 43% contained, has destroyed more than 1,000 homes and burned over 160,000 acres.
    Trump appears to change story on meeting with Russian lawyer

    Trump appears to change story on meeting with Russian lawyer

    They can also cause War!' So today's breathless headlines are, as the Powerline blog's Paul Mirengoff called them , "fake news". It is, however, against the law for United States campaigns to receive donations or items of value from foreigners.
    European allies uneasy as United States  restores Iran sanctions

    European allies uneasy as United States restores Iran sanctions

    Sanctions will also be reapplied to US imports of Iranian carpets and foodstuffs and on certain related financial transactions. And John Bolton, the president's national security advisor, is a well-known Iran hawk who has advocated for regime change.
  • USA  tariffs on China: Trump administration adds $16 billion

    USA tariffs on China: Trump administration adds $16 billion

    But within days, Trump himself backed away from the deal, saying talks would "probably have to use a different structure". The two sides held three rounds of formal talks, beginning with a delegation to Beijing led by Mnuchin in May.
    European companies 'protected' from USA  sanctions following Iran nuclear row

    European companies 'protected' from USA sanctions following Iran nuclear row

    The European Union has sought to salvage the nuclear deal and provide legal cover for its companies to continue operating in Iran. In a statement on Monday just hours before the sanctions went back into force, Trump said: "The Iranian regime faces a choice".
    Brett Kavanaugh Hits Hurdle On Road To Supreme Court

    Brett Kavanaugh Hits Hurdle On Road To Supreme Court

    Democrats had also requested more documents from the National Archives from Kavanaugh's time as staff secretary to Bush. Bush's presidential library and other things get up here soon", the sooner the hearing can start, he said.
  • N.Y. Rep. Chris Collins arrested on insider trading charges

    N.Y. Rep. Chris Collins arrested on insider trading charges

    While Collins bought the stocks before a crash, Culberson bought at a peak price in January 2017, the Houston Chronicle reported . Indeed, Collins lost $17 million when the company's stock pice dipped down to five cents, according to reports from last June .
    Steven Segal appointed Putin's humanitarian envoy

    Steven Segal appointed Putin's humanitarian envoy

    For more than a decade Seagal, who according to his own website is 66, has been a regular visitor to Russian Federation . Seagal's grandmother was born in Vladivostok, Russia, and the two men share a passion for martial arts.
    Donald Trump attacks LeBron James in late-night tweet

    Donald Trump attacks LeBron James in late-night tweet

    Before entering politics, Trump frequently praised James and his own family tried to recruit him to the New York Knicks in 2010. In the interview, James said he "would never sit across" from Trump, though he would talk to former President Barack Obama.

Mueller's 'star witness' returns for testimony in Manafort trial Mueller's 'star witness' returns for testimony in Manafort trial But she said she was under the impression that Mr Manafort had been directing his deputies' actions and "knew what was going on". Similar to prior witnesses, Laporta testified that Gates and Manafort were in lockstep but that Manafort was in charge.

DMK chief Kalaignar passes away; supporters throng, security beefed up DMK chief Kalaignar passes away; supporters throng, security beefed up A regional party leader becoming indispensable in the national political sphere was something remarkable, said Senthilnathan. In 2004 Lok Sabha polls, DMK floated a rainbow alliance with Congress and won all the 40 seats in Tamil Nadu and Puducherry.

Japan forward Muto joins Newcastle from Mainz Japan forward Muto joins Newcastle from Mainz Mainz director of sports Rouven Schroeder said the club had respected the player's wish to play in the Premier League. We were poor and we made too many mistakes.

Mendocino Complex Fire now second-largest in California history Mendocino Complex Fire now second-largest in California history Two firefighters and four other people, including two children, were also killed. The Mendocino Complex, which is 30 per cent contained, is still growing.

Transfer: Wilfried Zaha confirms to teammates he is moving to Chelsea Transfer: Wilfried Zaha confirms to teammates he is moving to Chelsea He has already snubbed interest from Everton as he is reluctant to move north again, after a failed stint with Manchester United. Wilfried Zaha is set to stay at Crystal Palace this summer, despite interest of the big teams in the Premier League .

Probe into attempt on Maduro’s life indicate USA were behind - Venezuelan diplomat Probe into attempt on Maduro’s life indicate USA  were behind - Venezuelan diplomat Interior Minister Reverol said six "terrorists and hired killers" had been arrested, several vehicles seized and hotels raided. Maduro, though, blamed neighboring Colombia: "I have no doubt that the name Juan Manuel Santos is behind this attack".

Bayern beat Man United in final pre-season test Bayern beat Man United in final pre-season test Mourinho started off by claiming that our CEO knows what we want and that the club still has a few days to see how things pan out. Asked why he needed to strengthen, the manager added: "The other clubs that compete...

Charlotte Rae Dead: ‘The Facts Of Life’ Star Sadly Dies At 92 Charlotte Rae Dead: ‘The Facts Of Life’ Star Sadly Dies At 92 Both shows were wildly successful between the late '70s and mid-'80s - but they were just a small slice of her long career. Rae is survived by her sister , her son, and several grandchildren and great-grandchildren.

Russia's Novak: Higher oil production in July aimed at market stability Russia's Novak: Higher oil production in July aimed at market stability US crude oil exports averaged 1.31 million barrels per day last week, down by 1.37 million barrels per day from the previous week. United States crude inventories rose 3.8 million barrels last week, according to data from the Energy Information Administration.

Saudi Arabia freezes new trade with Canada for urging activists' release Saudi Arabia freezes new trade with Canada for urging activists' release In a series of tweets , the Saudi foreign ministry said it was expelling the USA ambassador and recalling its own envoy in Canada. Al-Saadah was among the first women to run for office in Saudi Arabia in 2015 as part of a campaign for women's political rights.

Justin Thomas runs away from field to easily win Bridgestone Invitational Justin Thomas runs away from field to easily win Bridgestone Invitational Rory and I have played together a lot. "We sat down and just said, what are we doing wrong?" He wound up winning the last one. The World Golf Championships in Akron has a yearly economic impact of more than $21 million according to Firestone's website.

20 killed when tourist plane crashes in Swiss Alps 20 killed when tourist plane crashes in Swiss Alps The aircraft belongs to JU-Air, a company with links to the Swiss air force, the ATS news agency reported . The crash occurred above the Swiss Alpine resort of Flims, an area popular with hikers and skiers.

Two suspected cases of WNV reported from Kozhikode Two suspected cases of WNV reported from Kozhikode These agencies are responsible for monitoring the potential public health threat of mosquito-borne diseases. The CAES maintains a network of 91 mosquito-trapping stations in 72 municipalities throughout the state.

Trump to propose 25-pct tariff on $200b of Chinese imports Trump to propose 25-pct tariff on $200b of Chinese imports The fight over trade kicked off in March when Trump threatened to hit $50 billion worth of Chinese imports with a 25% tariff. In 2017 the United States had a $376 billion trade deficit with China, which it is keen to reduce.

"Imminent failure" possible of College Lake Dam The dam at College Lake, adjacent to the University of Lynchburg , was built in 1934, according to the school's website . The National Weather Service said up to 15 centimetres of rain fell within hours, filling the dam beyond capacity.