Friday, 24 May, 2019


Trump readies tariffs on another $US200m of Chinese goods

Trump readies tariffs on another $US200m of Chinese goods Trump readies tariffs on another $US200m of Chinese goods
Bennie Garza | 12 July, 2018, 14:22

US Trade Representative Robert Lighthizer writes that these new tariffs come as a response to how Beijing retaliated to the initial tariffs - quickly implementing matching tariffs on the same amount of US exports to China.

The foreign ministry described Washington's threats as "typical bullying" and said China needed to counter-attack to protect its interests. It's unclear what that action could include.

China imported USA goods worth $130 billion previous year and Friday's tariff hike hit $34 billion of that, with another $16 billion cited for a possible increase.

Trump has recently introduced tariffs on $34 billion worth of Chinese products and, while hundreds of products have been affected, certain goods were conveniently spared from this enactment - including the products made for Ivanka's internationally manufactured fashion brand.

Beijing recently indicated that its response to more tariffs would include "qualitative" measures, which many analysts interpreted as creating regulatory hurdles or even stoking anti-US sentiment among consumers of U.S. products.

Farmer Terry Davidson walks through his soy fields July 6, 2018, in Harvard, Illinois, the same day China imposed retaliatory tariffs aimed at the United States soybean market.

China has, in recent years, become a key export market for growing US energy exports.

The latest round of import taxes on Chinese goods has a two month public commentary period and the U.S. administration is being open about the fact that they expect China to discuss the move leading one to wonder if it will actually be imposed.

"Tonight's announcement appears reckless and is not a targeted approach", Senate Finance Chairman Orrin Hatch, a Utah Republican, said in a statement.

A survey by the American Chamber of Commerce in Shanghai found that most US businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights.

In financial markets, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.5 percent, while the main indexes in Hong Kong and Shanghai fell more than 2 percent.

The National Association of Manufacturers also criticized the US decision, saying this latest round of tariffs could undermine the economic gains from the administration's tax and regulatory reform policies.

'Tariffs on $200 billion in Chinese products amounts to another multibillion-dollar tax on American businesses and families, ' trade lawyer Scott Lincicome said.

If the United States were to impose tariffs on oil, USA oil sellers would have to look for other destinations and attract new customers, which could cost them more. Imposing taxes on another $200 billion worth of products will raise the costs of every-day goods for American families, farmers, ranchers, workers, and job creators.

The US on Tuesday published a list of $200 billion (€170 billion) worth of Chinese goods that could soon be hit with tariffs.

Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, said while he expects China to strongly condemn the USA moves, its policy response is likely to be limited for now.

"In part because they have only limited ammunition and in part because it's still early in the process on the USA side", Kuijs said.

Trump has been following through on pledges he made during his presidential campaign to get tough on China, which he accuses of unfair trade practices including theft of intellectual property and forced technology transfer that have led to a $375 billion US trade deficit with China.

As its dispute with Washington deepened, Beijing has been calling on other countries to support global free trade and has talked up efforts to ease investment rules. "If we see an increase in shipments from the latter in the coming months, we will be able to say there has been a shift in the supply chain, rather than simply a change in reporting techniques", he said.

Recommended

loading...
...
  • Bookies Can’t Split Reignited Rivalry between Sea of Class and Enable

    Coming into the October 2018 race, Enable had been restricted to just one run but was the even-money favorite nonetheless. Rode by Frankie Dettori, Enable sat just on the heels of the leaders before kicking on to claim the win.
    Jean Segura, Jesus Aguilar win MLB Final Vote

    Jean Segura, Jesus Aguilar win MLB Final Vote

    The Red Sox launched a #VoteBenny campaign, spearheaded by 2015 All-Star and Benintendi's teammate Brock Holt. He will join Mariners teammates Nelson Cruz, Edwin Diaz and Mitch Haniger at the All-Star Game .
    Here's the most painful part of England's World Cup semifinal loss

    Here's the most painful part of England's World Cup semifinal loss

    England were knocked out of the tournament by Croatia, and Kane looked a million miles away from his normal lethal self. England won their opening game at a major tournament for the first time since the 2006 World Cup.
  • North Atlantic Treaty Organisation members keep wary eye on Trump's mood

    Lieu went one step further, drafting an illustrated message to mock the president for his hostile comments to USA allies. Afterwards he will spend the weekend in Scotland at his gold club, Trump Turnberry, in Ayrshire.
    Irish masters Elliott and Mullins set for three-pronged attacks in Grand National

    Irish masters Elliott and Mullins set for three-pronged attacks in Grand National

    As for Elliott, his Grand National trio this year are headed by three-time Cheltenham Festival winner Tiger Roll . The 2018 renewal has a typically wide-open feel and that’s certainly evident from a betting perspective.
    List of the Best Fitness Trackers for 2018

    List of the Best Fitness Trackers for 2018

    Although it is a bit expensive, it makes your experience really enjoyable by giving you access to music and also GPS navigation. Huawei Band 2 Pro is one of the best low-budget devices that offers you all the functions you need for under 60 Euros.
  • Thailand's Tham Luang cave to become museum to showcase boys' rescue

    Thailand's Tham Luang cave to become museum to showcase boys' rescue

    The boys have so far only been allowed to see their parents through the glass of a quarantined room, due to the risk of infection. Another person said: "Wow that just gave me goosebumps". "Without him, in this operation, I don't think we could have succeeded".
    The First Offline Date After Online Relationships

    The First Offline Date After Online Relationships

    The Date Day: How To Behave When you meet your date offline for the first time, there are many things that can go wrong. That is a very responsible step that will either empower or destroy the already formed relationships.
    Gustav Klimt Could Challenge For 2,000 Guineas

    Gustav Klimt Could Challenge For 2,000 Guineas

    However, Gustav Klimt bounced back with a fine performance at the Barronstown Stud Irish European Breeders Fund in June last year. Gustav Klimt moved to the inside down the final furlong and found just enough speed to beat out his compatriot Nebo by a head .
  • The bizarre things we’ll miss after England’s World Cup exit

    The bizarre things we’ll miss after England’s World Cup exit

    But when you've got to this point and played as well as we have. you want to take these opportunities in life. No-one believed before the World Cup that we could go this far, but we believed.
    Americans in United Kingdom  warned to 'keep a low profile' during Trump's visit

    Americans in United Kingdom warned to 'keep a low profile' during Trump's visit

    Mr Khan said he supported the decision taken by the Greater London Authority, adding that it was not for him to be a "censor". That led roughly half a million people to sign a petition calling for Trump to be banned from entering the UK.
    Trump rails against Germany, demands allies double North Atlantic Treaty Organisation  spending

    Trump rails against Germany, demands allies double North Atlantic Treaty Organisation spending

    He also accused member states of failing to pay their fair share of defense spending and of being in debt to the U.S. "So we're supposed to protect Germany , but they're getting their energy from Russian Federation ".

India vs England, 1st ODI, Nottingham India vs England, 1st ODI, Nottingham Expect much of the same from Kuldeep Yadav and Yuzvendra Chahal who wreacked havoc for England batsmen in the T20s. If the management thinks of playing an extra pacer, Siddarth Kaul or Shardul Thakur might come into play .

Woman accidentally stole vehicle , kept it for two weeks The woman then proceeded to drive the vehicle around for a full two weeks, using the Infiniti for her regular activities. The stolen vehicle was a 2015 black Infiniti QX50 , but the woman didn't notice it wasn't the sedan she had rented.

White House Unhappy With Pompeo-North Korea Visit Accusations from USA politicians, however, have triggered nationalistic sentiment among Chinese netizens. Lindsey Graham, R-S.C., speaks during a news conference on Capitol Hill, Dec. 6, 2017, in Washington.

First Israeli spacecraft to land on moon next year First Israeli spacecraft to land on moon next year The prize would have given $30 million to the team that developed a low-priced method of robotic space exploration. The dainty spacecraft is just about 5 feet (1.5 meters) high and weighs 1,322 pounds (600 kilograms).

Major League Soccer, A-League await Fernando Torres' decision on Tuesday Major League Soccer, A-League await Fernando Torres' decision on Tuesday Torres's decision to join Sagan comes after fellow Spaniard Andres Iniesta signed with Vissel Kobe before the World Cup. Torres made his debut with Atletico Madrid in Spain in 2001 before playing seven seasons in England until 2014.

Nevada execution blocked after company objects to use of its drug Nevada execution blocked after company objects to use of its drug Last year, a pharmaceutical company sued the state of Arkansas over drugs used in its lethal injections, but was unsuccessful. A lawsuit filed by the pharmaceutical company Alvogen, however, put Dozier's execution by lethal injection on hold.

Steven Gerrard hints Glasgow Rangers are close to signing Sadiq Umar Steven Gerrard hints Glasgow Rangers are close to signing Sadiq Umar He smiled: "I don't like to say anything about myself but I am a hardworking player who always wants to help the team". Sadiq joins Rangers after having spent last season on loan at Torino and Dutch side NAC Breda .

Women's March slammed for goof in statement on Kavanaugh Supreme Court nomination Women's March slammed for goof in statement on Kavanaugh Supreme Court nomination Shortly after her 2009 nomination to the Court, Justice Sonia Sotomayor announced plans for a memoir, which was published in 2013. That changed when Thurgood Marshall joined the court. "He has to care more about the court's legacy", Covington explained .

Gareth Southgate defends Harry Kane from semi-final criticism Gareth Southgate defends Harry Kane from semi-final criticism The Duke of Cambridge, who is president of the Football Association, told the Three Lions the whole country is behind them. But despite the heartbreak, they and manager Gareth Southgate have reconnected many people with the national team .

Galaxy S8 and Note 8 get stickers in the Samsung Calendar app Galaxy S8 and Note 8 get stickers in the Samsung Calendar app While the 3GB variant features 32GB of inbuilt storage space, the 4GB RAM variant of the device boasts 64GB of inbuilt storage . On the optics front, the device sports a single 13-megapixel sensor on the rear panel with a f/1.9 aperture and an LED flash.

Ambassador praises Danish divers for role in Thailand cave rescue Ambassador praises Danish divers for role in Thailand cave rescue Crowds at the teeming rescue site cheer the good news, but attention soon turns to the hard task of getting the boys out safely. They got stuck when exploring the cave complex after soccer practice and a rainy season downpour flooded the tunnels.

Porte on the up after BMC’s time trial win Porte on the up after BMC’s time trial win If his legs are good after the Giro d'Italia, we already know he can be a threat. "We were close but not quite quick enough". To win with these guys is a great feeling. "I feel maybe even better (than last year)", Porte said.

General Overview of Cisco CCNA R&S Questions and Answers In addition to this, they will also build their skills and knowledge levels required to implement WLAN in a small/medium network. At the end of the course, they will also be able to resolve regular issues with EIGRP, STP, and OSPF in IPv4 and IPv6 networks.

How Technology Has Completely Changed the Way We Spend Money How Technology Has Completely Changed the Way We Spend Money The Rise of Mobile Payments Over the last few years, all of the major mobile innovators have stepped into the mobile payment game. As of 2016, Apple Pay had 12 million monthly users , a figure which is sure to rise substantially in the coming months and years.

A Groundbreaking Football News: How do Footballers And Dementia Relate? Finally, I think we can hope that the experts would look into the matter in a cautious way in the near future. As per Shearer’s words ‘At least now people have started to look for answers’.