Sunday, 05 July, 2020


China relations near new low amid trade battle

Chinese Vice Premier Liu He talks with U.S. Treasury Secretary Mnuchin and Trade Representative Lighthizer as he leaves trade talks in Washington China relations near new low amid trade battle
Conrad Doyle | 14 May, 2019, 02:14

Both nations are engaged in commercial combat over China's aggressive push to set up Chinese firms because world leaders in cutting-edge areas including robotics and electrical vehicles.

China for the first time made clear what it wants to see from the U.S. in talks to end their trade war, laying bare the deep differences that still exist between the two sides.

"Now the thesis is that, based on what we're seeing right now, it seems as though China has backed out of a deal and why that's significant is that this isn't just something that can be fixed by a tweet - he just can't untweet that", Caron said.

George Conway, attorney and husband to Counselor to the President Kellyanne Conway, on Saturday mocked President Donald Trump's suggestion of an "easy" and "very simple" way to avoid tariffs after the White House once again increased tariffs on goods imported from China.

"The President also ordered us to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately USD300 billion", he said.

"Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind", Trump wrote.

In a wide-ranging interview with Chinese media after talks in Washington ended Friday, Vice Premier Liu He said that in order to reach an agreement the USA must remove all extra tariffs, set targets for Chinese purchases of goods in line with real demand, and ensure that the text of the deal is "balanced" to ensure the "dignity" of both nations.

"The United States and China are on a collision course", the Asia Society concluded in an assessment of the two countries' relations in February.

Mr Trump said last Sunday that he might extend penalties to all Chinese goods shipped to the United States. "The relationship between President Xi and myself remains a very strong one, and conversations into the future will continue", he said.

Meanwhile, President Donald Trump has said that the deal may be worked out in about a month.

"Negotiations have not broken down, but rather on the contrary, this is only a normal twist in the negotiations between the two countries, it is inevitable", Liu said. "I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky and have a Democrat win - in which case they would continue to rip-off the U.S. for $500 Billion a year", Trump tweeted.

The US hiked tariffs on $200B of Chinese imports with almost 6,000 products now incurring a 25% levy, up from 10% previously.

Michael Taylor, managing director and chief credit officer for Asia-Pacific at Moody's Investors Service, said the US move exacerbated uncertainty in global trade, added to US-China tensions, and negatively affected global sentiment.

U.S. Agriculture Secretary Sonny Perdue said on Friday that Trump had asked him to create a plan to support American farmers. "That doesn't sound like much, but if it happens when there's a broader slowdown, it adds to the momentum and can make matters much worse", he says. The US importers will have to absorb it and transfer it on to consumers. If a deal is to be reached, the tariffs should all be eliminated. China's response was sharp contrast: It quickly enacted a massive stimulus campaign that super-charged economic growth and helped pull the entire world economy out of the ditch.

Trump has said he may put new tariffs on another $325 billion in Chinese imports, which could severely disrupt global supply lines and derail an already-slowing world economy.

China's Commerce Ministry vowed to impose "necessary countermeasures" but gave no details. What the Chinese Vice Premier said has allowed the truth to come out.

Recommended

loading...
...

Legendary actress and singer Doris Day dead at 97 Legendary actress and singer Doris Day dead at 97 Dressing to match her megawatt personality led to many colourful looks , as Day became a master of pairing colours. Her film career began in 1948 when she starred in Romance on the High Seas alongside Canadian-born Jack Carson .

Trump lawyer Giuliani threatens, then abandons, Ukraine trip Trump lawyer Giuliani threatens, then abandons, Ukraine trip In the Times article, Giuliani argued he's not acting illegally, though he admitted, "somebody could say it's improper". Usually, when the president talks about the Times , it is to attack the paper as "failing" or part of the 'fake news'.

Revisiting Felicity Huffman's Life Amid the College Admissions Scandal Revisiting Felicity Huffman's Life Amid the College Admissions Scandal According to the lengthy indictment ET obtained in March , Huffman allegedly paid $15,000 to help get her and husband William H. District Judge Indira Talwani asked Huffman if she was pleading guilty without any threats or pressure.

Sri Lanka blocks social media after anti-Muslim riots Sri Lanka blocks social media after anti-Muslim riots Worshippers were searched before being allowed into churches that were guarded by armed police and troops. On Sunday, the Catholic Church held the first regular Sunday Mass since the attacks amid tight security.

Aston Villa beat West Brom in first leg of Championship playoffs semifinals Aston Villa beat West Brom in first leg of Championship playoffs semifinals Jay Rodriguez had earlier hit the bar and Albion looked like holding on until the 75th minute when Hourihane netted from 20 yards. In the 78th minute, former Arsenal man Kieran Gibbs tackled Jack Grealish inside the penalty area to award them a penalty.

Sophie Turner knows the coffee scene culprit Sophie Turner knows the coffee scene culprit And they talked about how Clarke's contact lenses popped out sometimes during her intense staring scenes. In response, Turner turns the blame on none other than her on-screen nemesis, Emilia Clarke .

Lil Wayne Didn't Perform Due to Police Search Lil Wayne Didn't Perform Due to Police Search Last month the 21-year-old was arrested on gun and drug charges near Niagara Falls while trying to enter the U.S. from Canada. Kodak Black and Lil Wayne are two of the biggest names in the music game, and neither one actually hit the stage.

Chris Attoh's wife shot dead in U.S. Chris Attoh's wife shot dead in U.S. Jenifer was married to Chris Attoh , who is best known for his role as "Kwame Mensah" in the Nigerian program "Tinsel". The suspect is described as a black male with a thin build and black hair, wearing a dark shirt and dark trousers .

Supreme Court rules that consumers can sue Apple for App Store practices Supreme Court rules that consumers can sue Apple for App Store practices When an application is purchased, Apple collects a 30 percent commission and gives the other 70 percent to the developer. A group of United States consumers has been given the go-ahead by the Supreme Court to sue Apple over app prices.

Game of Thrones season 8 Daenerys Targaryen gets killed by Arya Stark? Game of Thrones season 8 Daenerys Targaryen gets killed by Arya Stark? The first, but most certainly not the last, named character to die in The Bells , Lord Varys went out on his own terms. Given Cersei's long list of murderous sins, the character by all rights should be considered GoT's outright villain.

Sung Kang matches course with 61 to take Byron Nelson lead Sung Kang matches course with 61 to take Byron Nelson lead I felt like I was hitting it okay on the front, really getting up and out of it, and the back is definitely tougher. Pull up his PGA Tour page , and there is something that jumps out right away once you get to Strokes Gained.

Real Madrid target Hazard: Chelsea have known my decision for weeks Real Madrid target Hazard: Chelsea have known my decision for weeks The former Lille man has been spectacular for Chelsea this season amid fans' complaints about manager Maurizio Sarri's tactics. L'Equipe reports that Eden Hazard will arrive from Chelsea , for a sum of close to €100million.

Man Who Cashed In On Tiger's Masters Win is Betting it All Man Who Cashed In On Tiger's Masters Win is Betting it All My husband and I waited in the singles line because we thought we could get through it faster than the regular line. Eyebrows were raised when Adducci claimed that his $85,000 bet on Woods to win the Masters was his first.

Mexican luchador Silver King passes away during event in London Mexican luchador Silver King passes away during event in London Lucha libre is a popular form of wrestling in Mexico that features colorful masks, elaborate costumes and acrobatic techniques. WrestleZone sends condolences to the friends and family of Silver King in this hard time.

Doris Day Dies Nearly 2 Months After Celebrating 97th Birthday Doris Day Dies Nearly 2 Months After Celebrating 97th Birthday She began her career as a big band singer in 1939 and her popularity increased with her first hit " Sentimental Journey ". She had celebrated her 97th birthday just last month with almost 300 fans who gathered in Carmel to celebrate with her.