Sunday, 09 May, 2021


Markets Cautiously Lower as US-China Trade Threat Looms

Stocks are opening higher on Wall Street as the market builds on a solid gain from late in the day before Markets Cautiously Lower as US-China Trade Threat Looms
Bennie Garza | 07 April, 2018, 07:38

President Donald Trump and his administration are considering tariffs on an additional $100 billion in Chinese imports.

USA trade representative Robert Lighthizer called China's move "unjustified" and said Mr Trump's proposal was an "appropriate response to China's recent threat of new tariffs".

The White House said Trump had instructed the Office of the United States Trade Representative, the agency responsible for developing and recommending trade policy, to consider whether the additional tariffs would be appropriate under section 301 and, if so, to identify which products they should apply to.

Lighthizer said: "China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in USA exports, including our agricultural products".

China had already announced duties of 15 to 25 percent on United States agricultural products with little strategic importance, such as fresh fruit, pork and Californian wine.

The U.S. Trade Representative announced Tuesday it is planning to impose 25 percent tariffs on 1,300 Chinese goods worth $50 billion. He dismissed the notion that a trade war is inevitable, stressing that it's just a proposal to raise USA tariffs on an additional $100 billion worth of Chinese goods.

The Chinese government took less than 11 hours to respond with its own measures and it led to a sharp sell-off in global stock markets and commodities.

US President Donald Trump barrelled through warnings of a damaging trade war with China on Thursday, vowing an additional $100bn in tit-for-tat tariffs on Beijing.

"China is guilty of many things, but the president has no actual plan to win right now".

Trump's unexpected move threatens to unravel efforts by top USA and Chinese trade officials to lower the heat and reach an agreement that could stave off an escalating conflict.

The top White House economic adviser is saying, "Blame China, don't blame Trump", for any trade fight. "The WTO is unfair to U.S".

"Our view remains that a negotiated solution is most likely and so the tariffs ultimately won't be implemented or will be much milder if they are", said Shane Oliver, head of investment strategy at AMP Capital in Sydney.

Investors were also reacting to the latest jobs report, which showed the USA economy added a lower-than-expected number of jobs in March.

Global stock markets were unhappy with the turn of events, as Wall Street dropped more than two percent, following European and Asian markets lower.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers", Trump's statement said.

"Hopefully the President is just blowing off steam again but, if he's even half-serious, this is nuts", Sasse said in a statement. "We can not let this continue!"

A tariff, in plain terms, is a tax on goods coming into a country. "This is the dumbest possible way to do this", said the lawmaker from the farm-belt state of Nebraska. That development follows Trump's earlier pitch for $50 billion in tariffs on Chinese products.

"Compared with the USA list, which focusses on high-tech, China's list is more diversified", said Lu.

The list of products hit by trade tensions between the United States and China increases nearly daily.

"History and reality have repeatedly proved that economic globalisation has provided a strong impetus for the development of worldwide trade and economics", the newspaper said, adding that the USA was "one of the biggest beneficiaries" of this.

Recommended

loading...
...
  • Top Reasons to Consider a Tax Advisor for your Business

    Top Reasons to Consider a Tax Advisor for your Business

    Tax advisors can also help to provide you with educated business advice, asset management, and discuss retirement plans with you. Hiring a tax accountant allows you to spend more of your precious time on your business, rather than worrying over your taxes.
    Data firm receives access to millions of Facebook users

    Data firm receives access to millions of Facebook users

    Mark Zuckerberg has admitted the Facebook does scan all images and texts people send to each other through the Messenger app. The disclosures about Canadian Facebook users comes in the wake of one of the biggest data privacy scandals in history.

    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’.
  • 6 SORE MUSCLES EASING REMEDIES THAT TRAINERS RELY ON

    Although no one enjoys the pain of muscle tears, many people find the final result worth the discomfort they experience. He then recommended that you should follow it up with low-intensity cardio routines, or a simple yoga session.
    Trump to skip White House Correspondents' Dinner again - but aides will attend

    Trump to skip White House Correspondents' Dinner again - but aides will attend

    One reaction on Twitter noted: "Last summer and this spring, the White House had a combined 206 interns". Trump had promised to attend this year's dinner on April 28.
    Porton's novishock: Experts can't trace source of nerve agent

    Porton's novishock: Experts can't trace source of nerve agent

    Instead of cooperating with the OPCW, Russia had unleashed "a flood of insinuations targeting European Union member states. His daughter, Yulia, 33, has shown signs of improvement.
  • Price Target Analysis Tiffany & Co. (TIF)

    Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Tiffany & Co.by 103.1% in the 4th quarter. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link .
    Facebook's Sandberg says other cases of data misuse possible

    Facebook's Sandberg says other cases of data misuse possible

    Sandberg and other Facebook officials knew about the Cambridge Analytica breach two and a half years ago. Sandberg wouldn't take full responsibility, saying " every candidate at every level used Facebook".
    Facebook's Sheryl Sandberg Continues Apology Tour Ahead Of Mark Zuckerberg's Congressional Testimony

    Facebook's Sheryl Sandberg Continues Apology Tour Ahead Of Mark Zuckerberg's Congressional Testimony

    The firm will ask those placing political ads for a United States government-issued ID and a physical mailing address. Facebook shares were down slightly in mid-morning trading in NY on Friday.
  • Kenny Rogers cancels farewell tour due to health related issues

    Kenny Rogers cancels farewell tour due to health related issues

    He added that he had "never properly thank them for the encouragement and support they've given me throughout my career". The Music Hall of Fame star was honored for his 60-year career last October at Nashville's Bridgestone Arena.
    Subject of manhunt in Arkansas fatally shot by officer, state police say

    Subject of manhunt in Arkansas fatally shot by officer, state police say

    He says the officer pointed a pistol at him when he started his auto and shot him before he shifted into gear. Police have not released details about the call nor the circumstances that led to the shooting.
    The 10 best football players in the world

    The 10 best football players in the world

    But even so, there’s no denying that he has impressive skills and he managed to lead all his football teams to big titles. Now at PSG, there are a lot of rumors that he might come back in Spain to play for life-time rivals of Barcelona, Real Madrid.

Overdosing Nicotine: Should You Be Concerned? A lot of effort has been made to educate the public on the dangers of smoking, but most of the time, it has yielded no fruits. Symptoms of Nicotine Symptoms Though you may not get poisoned from vaping, one way or another, e-liquid may get to your skin.

When to Consult a Tax Professional When to Consult a Tax Professional Typically, capital transactions are actually taxed at lower rates than standard income, but holding assets can get complicated. If you take care of someone financially or have children, definitely check with a professional tax preparer or accountant.

A DETAILED GUIDE ON ESCAPE HOUR A DETAILED GUIDE ON ESCAPE HOUR Mental health Generally, once you get into these escape rooms, you don’t get out the way you were before you got in. Getting unstuck from a rut If you are always too engulfed in your routine, one day you will want to do something different.

The Rock Confirms His Rivalry With John Cena Was Real The Rock Confirms His Rivalry With John Cena Was Real The last time Cena submitted was in a match against Kurt Angle in 2004, but he was nowhere near the icon that he is today . In the world of wrestling , it's fictionalized, it's a TV show, but we had, our rivalry, ' Johnson told Kimmel on Tuesday.

American Airlines buying $12 billion in 787s from Boeing American Airlines buying $12 billion in 787s from Boeing Boeing says the order today is a new deal from American and not an exercise of the carrier's options for 58 787s. Shares of American were up 0.3% after hours, following a 3.6% fall to close Friday trading at $50.29.

(CSX) to Post $0.66 EPS Scotiabank set a $55.00 price objective on CSX and gave the stock a "buy" rating in a research report on Friday, December 15th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03.

Final Fantasy 15 has four more episodes coming in 2019 Final Fantasy 15 has four more episodes coming in 2019 Episode II: Lunafreya - "The Choice of Freedom" This story's about Luna's fate, which not even death can free her from. The Japanese giant revealed plans to release four new pieces of DLC content for Final Fantasy XV through summer 2019.

Jump Trading LLC Takes $242000 Position in Time Warner Inc (TWX) Farallon Mgmt Limited Liability accumulated 4.27 million shares. ( NYSE : TWX ) was sold by BARR WILLIAM P on Monday, February 5. The media conglomerate reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.16.

IPL 2018: Rohit Sharma relives journey as Mumbai Indians captain IPL 2018: Rohit Sharma relives journey as Mumbai Indians captain It is a great option for franchises to have mid-season trading. "I don't see any problem", Jayawardene said. To get going in the tournament, Rohit Sharma can target Chennai Super Kings' bowling in the first game.

Ollies Bargain Outlet Holdings (NASDAQ:OLLI) 4Q17 earnings preview Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. The current share price indicates that stock is -4.19% away from its one year high and is moving 82.22% ahead of its 52-week low.

Mino Raiola: 'I offer players to Manchester City, not Pep Guardiola' Mino Raiola: 'I offer players to Manchester City, not Pep Guardiola' The claims appeared to come as a surprise to Pogba, who tweeted afterwards, "Say what?" But, he knows as well I am a top manager. I never speak with him, so his opinion [about me], I don't know - maybe Ibra [Ibrahimovic] explained many things about me .

Far Cry 5 week 1 sales estimated to be 5 million copies Far Cry 5 week 1 sales estimated to be 5 million copies The company behind big video game brands like Assassin's Creed , Far Cry and Watch Dogs is setting up shop in Winnipeg. These are some of the Ubisoft franchises that video game players from all over the world have loved for years now.

Canadian junior hockey team bus involved in fatal crash, report says Canadian junior hockey team bus involved in fatal crash, report says The Nipawin Hawks were scheduled to play the team Friday night, but confirmed that the game has been cancelled due to the crash. RCMP said traffic was expected to be blocked for several hours and drivers can expect lengthy delays.

Donald Trump considers list of trade demands for China Donald Trump considers list of trade demands for China China shot back with a list of similar proposed duties on American imports, including soybeans, planes, cars, beef and chemicals. The price of aluminum per pound has been falling since February, a decline that started before the tariffs were imposed.

How To Make A Profile On A Dating Website How To Make A Profile On A Dating Website Yes, we live in the world of modern technologies where a teenager knows more about technologies than people in mid 30s. When writing about yourself, keep in mind that people might think of different things and have different associations.