USA planning actions targeting Chinese hackers and spies
USA planning actions targeting Chinese hackers and spies
Asia stocks cautious, pound pummeled by politics
14 December, 2018, 09:01
That's piled pressure on auto companies that have relied on the country for growth amid declining vehicle sales in the U.S.
Shares of automakers including Daimler, Ford and Tesla rallied on the headline.
China's methods of non-traditional espionage, including their use of ordinary Chinese expatriates instead of spies at universities and businesses, and intellectual property theft, were explained by the officials from the Federal Bureau of Investigation and Departments of Justice and Homeland Security who briefed USA lawmakers on Wednesday, CNN reported. The U.S.is now imposing a 10 percent duty on imported aluminum and a 25 percent duty on imported steel. The US now charges a 27.5pc tax on imported cars from China.
China and the United States have been engaged in a trade war after Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.
China and the U.S. are set to take action against each other as tensions escalate over trade, cyber hacking and espionage as senior American law enforcement officials identified Beijing as the most serious threat to Washington's national security, officials said.
China has also told state oil trader China International United Petroleum & Chemical Corp (中國國際石化聯合) to buy U.S. oil, and Washington is expecting Beijing to cut tariffs on US-made automobiles and parts. On Thursday, the U.S. Department of Agriculture disclosed sales of 1.13 million tons to China.
In retaliation, China raised the duty on United States auto imports to 40%, though it proceeded with the lower rate on imports from other countries.
The export council "is encouraged by the news that buyers from China have made purchases of USA soybeans", the American group said in an email.
Soybeans got an early boost after Trump said China was back in the market buying USA beans.
The move also shows that Beijing is perhaps serious about following through on promises made during Trump and Chinese President Xi Jinping's dinner at the G20 meeting in Buenos Aires, Argentina.
Chicago Board of Trade (CBOT) soybeans traded higher on Wednesday morning amid continued optimism on trade talks with China.
The Wall Street Journal reported Wednesday that Chinese officials also agreed to replace the comprehensive industrial policy, Made in China 2025, which Trump officials have sharply criticized.
Growing concerns that the trade war will increasingly hurt corporate earnings and the US economy are a key reason why USA stock prices have been sinking this fall. China's decision came amid a period of heightening tensions between the US and China over trade and intellectual property issues.
Commodities traders and analysts said soybean prices may struggle to build on Wednesday's gains unless China buys considerably more soybeans. China imported 280,208 vehicles, or 10 percent of total imported cars, from the USA last year, according to China's Passenger Car Association.
PHOTO: Police motorcycles drive in the streets of Strasbourg , eastern France, after a shooting breakout, on December 11, 2018. Witnesses described shots and screams after the gunman opened fire around the Christmas market Tuesday evening.
Thomas Markle , father of Meghan , gave an interview with the British newspaper The Daily Mail to talk about his daughter. Earlier, opening up about her daughter's pregnancy, he said that it all feels "overwhelming and joyful".
On Twitter Wednesday, Trump urged OPEC not to restrict oil flows, but since then has not publicly addressed the market. Also, it seems that factors other than OPEC production are playing a bigger role in determining oil prices .
Meanwhile, police in Virginia say there have been significant delays on interstates as vehicles stuck in snow have impeded travel. Officials in several states urged residents to stay off the roads and instead enjoy holiday festivities with their loved ones.
Underground stations in the city centre also closed and the United States embassy warned its citizens to avoid all protest areas. But the "yellow vests", some of whom who have become increasingly radicalised , are holding out for more.
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