Trump's China Trade War Just Escalated by $16 Billion
Trump's China Trade War Just Escalated by $16 Billion
08 August, 2018, 23:15
The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S.
This round of tariffs is the second to be imposed under the Trump administration, following an earlier round in which $34 billion of Chinese imports saw altered charges starting July 6th.
Sales at 50 major Chinese retailers fell by 3.9 per cent in July from a year earlier, raising concerns over whether Beijing can push through its plan to ramp up domestic consumption to offset the effects of the intensifying US-China trade war.
"This is a very unreasonable practice", the Chinese commerce ministry said of the USA action on Wednesday as it rolled out China's counter-tariffs.
John Neuffer, president of the Semiconductor Industry Association, said: "We have made the case to the administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's..."
China's exports growth unexpectedly accelerated in July despite fresh US tariffs, while its trade surplus with the United States remained near record highs as Beijing and Washington ramped up a bitter dispute that has rattled financial markets.
This round of tariffs is open to public comment until September 6th. Year-on-year, the growth of China's exports to the USA slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.
It has not yet given a date for its previously announced retaliatory tariffs on $16 billion in United States goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products.
It will be the second time the USA slaps duties on Chinese goods in about the past month, despite complaints by American companies that such moves will raise business costs and eventually consumer prices. Tariffs would make USA oil uncompetitive in China.
Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout.
China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from US companies.
The move is the latest escalation of President Donald Trump's trade war with China.
However, PC players will have to use Bethesda's own platform if they want to womp cazadors with their mates in West Virginia. At launch, Fallout 76 (and its beta) will be exclusive to Bethesda.net, so you won't be able to pick it up on Steam.
The National Oceanic and Atmospheric Administration will release its updated mid-season hurricane forecast on Thursday. The active season in the Pacific contrasts to the relatively quiet season in the Atlantic.
This was primarily driven by a slightly lower frequency of use among our user base due to the disruption caused by our redesign . Other social media networks such as Facebook (FB) and Twitter ( TWTR ) recently reported disappointing earnings .
Saudi Arabia, ruled by its interpretation of Islamic law, rarely carries out crucifixions, but capital punishment remains common. Bin Salman is the second most senior member of the Saudi regime, which has one of the worst human rights records in the world.
Anderson's duel with Indian skipper Virat Kohli was also on display during the ongoing Test series between India and England. On a day off following his side's first-test win over India, Anderson was fortunate not to be injured on the golf course.
On Tuesday , Gates did connect one part of the bank fraud charges against Manafort to his role in the Trump campaign. They have tried several times to impugn his credibility before the jury. "In Cyprus, they were documented as loans".
Collins reportedly used information from negative clinical trial tests conducted by a pharmaceutical company named Innate. Also charged were his son Cameron Collins, and Stephen Zarsky, the father of Cameron Collins' fiancée.
Trade Representative Lighthizer "to identify $200 billion worth of Chinese goods for additional tariffs at a rate of ten percent". Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of U.S. threats.
Some Wall Street analysts are skeptical of Musk's ability to gather the financial backing to complete such a deal. But they did not reveal who or what institution Musk may have been referring to when he posted "funding secured".
Five Cape Town families are anxiously waiting on news from South Africans travelling in Indonesia after an quake hit Lombok. The worldwide charity Oxfam said drinking water was scarce because of a recent spell of extremely dry weather in Lombok.
Huge Planet's Aurora 200 Times as Strong as Jupiter's
Brown dwarves are hard objects to categorise they are too huge to be considered planets and not big enough to be considered stars. Last year, an independent team of scientists discovered that SIMP J01365663+0933473 was part of a very young group of stars .
Samsung Galaxy 7 suffers from Meltdown
Though it seems to be unavailable for now, Samsung has launched a free application on iOS and Android called Unpacked 2018. Samsung also talks about the leaks surrounding Fortnite for Android's debut as a timed-exclusive on the Galaxy Note 9.
Oil prices steady on falling US crude stocks and Iran sanctions
U.S. sanctions on Iran's oil customers snap back November 4 and could remove up to 1 million b/d of oil from the global market. The sanctions that went into effect yesterday target Iran's trade in USA dollars, which includes oil, metals, coal, and cars.
NASA announces crew for first commercial space flights
The first Boeing Starliner mission to the ISS will be crewed by John Cassada , a NASA astronaut, physicist and Navy test pilot. Ferguson will become the first former NASA astronaut to return to orbit as a company's crew member when he flies.
Senior scientist Aziz Asber killed in Syria
As reported TASS, the center has twice been bombed by the Israeli air force, which operated out of Lebanese airspace. A senior Syrian scientist involved in the Assad regime's chemical weapons program was assassinated in Syria.
Samsung Galaxy Note 9 Fortnite Android Exclusivity Confirmed
As per the XDA report, the Samsung Galaxy Tab S4 will be the first tablet to support the all-new gaming title from Epic Games. Verizon will kick off a Samsung Galaxy Note 9 BOGO (buy one get one free) deal once pre-orders open in the United States.