Friday, 10 July, 2020


Stephen Colbert Mocks Donald Trump's China Tariffs

Trump says China is ‘DREAMING’ of a Sleepy Joe Biden presidency Enlarge Image AP
Conrad Doyle | 14 May, 2019, 13:57

The article reflects the author's opinion, and not necessarily the views of CGTN.

The prospect of global economy being derailed by the United States and China sliding into a fiercer, more protracted dispute has rattled investors and led to a sharp selloff on equities markets in the past week.

USA stocks fell sharply early Monday after China announced it would raise tariffs on about $60 billion worth of US exports in retaliation to the Trump administration's tariff hike on Chinese goods last week.

The U.S. Trade Representative's office Monday released a list of about US$300 billion worth of Chinese goods including children's clothing, toys, cell phones and laptops that Trump has threatened to hit with a 25 per cent tariff.

I'm not at all surprised by the outcome as it's not an easy job to solve the decades-long trade disputes between the two countries. There will be nobody left in China to do business with'.

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 13, 2019.

USA negotiators reportedly have told Beijing it has a month to reach a deal or face tariffs on all its us exports.

Forecasters have warned that the US tariff hikes could set back a Chinese recovery that had appeared to be gaining traction.

Meanwhile, Japanese officials are reportedly concerned Washington may ramp up pressure for a quick bilateral trade deal should the China talks stall. -China negotiations ended without a breakthrough or any specific plan for further talks.

The sector, crucial for the United States economy, also represents an important electoral base for Donald Trump. In the case of the U.S.

"I think that China felt they were 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 & have a Democrat win - in which case they would continue to rip-off the U.S. for $500 Billion a year", Trump said.

The tensions reverberated through global financial markets, with the yield curve between three-month U.S. Treasury bills and 10-year notes inverting for the second time in less than a week on Monday.

And the effects of Trump's trade war were not limited to the American market. "[The] street sees the current 25 percent tariffs on $200bn of goods will bring down China's GDP growth by more than half a percent over the next 12 months, and over one percent if additional tariffs hit the other $325bn goods", Yang wrote.

If the ban can be lifted, it's much easier to solve the deficit problem. Paid for mostly by China, by the way.

Beijing has so far imposed tariffs on $110 billion worth of American goods in retaliation to the USA duties.

Negotiations are expected to continue among high-level officials in the coming weeks.

A market sell-off that began in the United States spread to Asia on Tuesday as investors feared the increasingly acrimonious trade war between the USA and China would hurt the global economy.

Then, on Friday, Trump posted that the Chinese trade talks were progressing in "a very congenial manner" followed by another saying there is "no need to rush" a new agreement. They were slowly rebounding this spring when it seemed like the two countries were nearing a trade deal.

So what will such a move mean for the Chinese economy, if it comes about? But he added that "both sides will suffer on this". We think these differences are significant issues of principle. Sales of United States soybeans elsewhere failed to make up for the loss.

One positive factor about the U.S. Many are still confident that both sides will eventually reach a deal. It is true that where there is a will, there is a way.

Beijing is running out of USA imports to penalize because of the lopsided trade balance between the world's two largest economies.

Recommended

loading...
...
  • This WhatsApp Flaw Allowed Israeli Hackers To Send Spyware Via Voice Call

    This WhatsApp Flaw Allowed Israeli Hackers To Send Spyware Via Voice Call

    WhatsApp has also reported the issue to the US Department of Justice, which declined to comment to the Financial Times . WhatsApp has asked its users to update to the latest version of its mobile app due to a major security vulnerability .
    President Trump warns Iran: Target America and your regime 'will suffer greatly'

    President Trump warns Iran: Target America and your regime 'will suffer greatly'

    One of the two Saudi tankers was on its way to the port of Ras Tanura to load oil for shipment to the US , according to SPA. Iranian foreign ministry spokesman Abbas Mousavi expressed concern over the incident and its possible consequences.
    Priest Among Six Killed In Burkina Faso Church Attack

    Priest Among Six Killed In Burkina Faso Church Attack

    The attack came just days after two French soldiers were killed during an operation to rescue two hostages in the troubled nation. The raids began in 2015 in the north before targeting the capital Ouagadougou and other regions, notably in the east.
  • Shahid Kapoor nails his act in Kabir Singh's trailer

    Shahid Kapoor nails his act in Kabir Singh's trailer

    Shahid plays a doctor in the film who loses direction and takes the way of self-destruction after the love of his life leaves him. Shahid Kapoor is set for yet another interesting tale which is his upcoming gritty drama, Kabir Singh .
    Apple revamps its TV app ahead of streaming service launch

    Apple revamps its TV app ahead of streaming service launch

    The new Apple TV app will enable Samsung Smart TV owners to access iTunes movies and TV shows in addition to Apple TV channels. The new Apple TV app is available across iPhone , iPad , Apple TV and select Samsung smart TVs.
    Trump may provoke USA  lawmakers to impeach him: senior Democrat

    Trump may provoke USA lawmakers to impeach him: senior Democrat

    The revelations came as the Democrats on Friday increased their pressure on the White House on other fronts. But Attorney General William Barr and Deputy Attorney General Rod Rosenstein have cleared the president.
  • Duke Basketball: Zion Williamson’s best dunks of the 2018-19 season

    Duke Basketball: Zion Williamson’s best dunks of the 2018-19 season

    Two years ago, the National Basketball Association approved changes to the draft which will be implemented this year. The consensus leading into Tuesday's lottery is the top three picks will be Williamson, Morant and Barrett.
    Suns F Josh Jackson charged with resisting arrest and escape in Florida

    Suns F Josh Jackson charged with resisting arrest and escape in Florida

    Phoenix Suns Forward and former Kansas Jayhawks star, Josh Jackson , was arrested this weekend at Miami's Rolling Loud festival. The Suns released a statement saying that they were, "aware of the report and in the process of gathering more information".
    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'.
  • Monsanto ordered to pay $2 bn in new Roundup trial

    Monsanto ordered to pay $2 bn in new Roundup trial

    Bayer released the following statement in reaction to a jury verdict in favor of the plaintiffs in the case of Pilliod v. Jurors awarded them each $1 billion in punitive damages in addition to a combined $55 million in compensatory damages.
    The worst things Cersei Lannister has ever done

    The worst things Cersei Lannister has ever done

    Game of Thrones concludes Sunday on HBO in the U.S. and the following day on Sky Atlantic and NOW TV in the UK. She's also someone who has had really close friendships and close advisors for her entire run of this show.
    Pacquiao braces for biggest challenge vs Thurman

    Pacquiao braces for biggest challenge vs Thurman

    The 40-year-old is heading to Las Vegas to take on a fighter 10 years his junior in an eagerly-anticipated welterweight bout. Thurman will aim to defend his WBA super welterweight title against the eight-division world champion.

Real Madrid offer Bale to Premier League in £10m deal Real Madrid offer Bale to Premier League in £10m deal But after Lopetegui and then Santiago Solari were sacked, Zidane's return has put Bale's future at the club in serious doubt. According to AS , when asked about whether Gareth Bale would feature against Real Betis, Zidane said, "I'm not sure".

Liverpool boss Jurgen Klopp takes credit for Arsenal success Liverpool boss Jurgen Klopp takes credit for Arsenal success The club endured such dark days towards the start of this decade but the good times are well and truly back at Anfield . We gave everything over the whole season, City are a fantastic side and you take your hats off to them.

Fatalities reported as planes collide in midair over Alaska Fatalities reported as planes collide in midair over Alaska Kiffer said search and rescue crews planned to work until darkness and then pick the search back up Tuesday morning. Mischa Chernick, of PeaceHealth Ketchikan Medical Center, confirmed ten patients had been admitted to the hospital.

Privacy can't be a 'luxury good': Google CEO Sundar Pichai Privacy can't be a 'luxury good': Google CEO Sundar Pichai But Google collects information across its many products, and it might not even greatly miss the data it foregoes, he said . For those who might not be able to afford it, Google can always point to the Pixel 3a or even the year-old Pixel 3.

Felicity Huffman pleads guilty, faces prison time in college admissions scam Felicity Huffman pleads guilty, faces prison time in college admissions scam Felicity Huffman looked stone-faced as she arrived at federal court in Boston to plead guilty in the college admissions scandal . He admitted to paying $250,000 to get his son into the University of Southern California as a fake water polo recruit.

Apple A13 chips for 2019 iPhones to enter mass production this month Apple A13 chips for 2019 iPhones to enter mass production this month Apple plans to add some new components to the A13 chip, including cellular modems for making calls and internet connection. Aside from getting new colors, this year's iPhone XR is believed to get upgraded specs, particularly an upgraded camera.

China to unveil list of products eligible for tariff exemption China to unveil list of products eligible for tariff exemption Congressional Budget Office and current president of the American Action Forum, believes Trump's approach could backfire. In the middle of the negotiations last week, Trump hiked tariffs on $200 billion of Chinese goods to 25% from 10%.

Empire Ending After Season 6, No Plans To Bring Jussie Smollett Back Empire Ending After Season 6, No Plans To Bring Jussie Smollett Back For its final season, the show will return to its original Tuesday airdate, in direct competition with NBC juggernaut This Is Us . When pressed, Collier said there is an option to include him in the series "but at this point we have no plans for that".

UEFA set to recommend Man City UCL exclusion for rule breaking UEFA set to recommend Man City UCL exclusion for rule breaking Sure, Liverpool and Manchester City were miles ahead of everyone else in the league but there were some highlights elsewhere. Liverpool gave its best effort but ultimately fell short.

Durant out for Game 1, unlikely to play Game 2 Durant out for Game 1, unlikely to play Game 2 Enes Kanter outstanding performances have tailed off in the past couple games, leaving the Blazers exposed in their frontcourt. Butler about did it all, and showed in the first half why the free agent will command a max contract in the offseason.

Beilein expected to talk to Bickerstaff about coaching role with Cavs Beilein expected to talk to Bickerstaff about coaching role with Cavs He's been to the NCAA national championship game twice (most recently in 2018), and won one NIT championship. Shortly after the news broke of his deal with the Cavs, Beilein shared a goodbye message to MI on Twitter.

Celebrities Who Have Unfollowed James Charles Amid Tati Westbrook Feud Celebrities Who Have Unfollowed James Charles Amid Tati Westbrook Feud Westbrook initially followed Charles' post with an Instagram story of her own, claiming she had been "betrayed" by someone. Despite a lot of people not knowing anything about the vloggers or their history the feud has gone viral across the globe.

Trump warns China not to retaliate against tariff hike Trump warns China not to retaliate against tariff hike On Friday May 10, 2019 President Donald Trump imposed sanctions on $200 billion (€178 billion) worth of Chinese goods. The response was announced after Trump on Monday warned Beijing not to retaliate.

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 .

China relations near new low amid trade battle China relations near new low amid trade battle The US hiked tariffs on $200B of Chinese imports with almost 6,000 products now incurring a 25% levy, up from 10% previously. China's Commerce Ministry vowed to impose " necessary countermeasures " but gave no details.