Saturday, 18 August, 2018

Billionaire conservative David Koch is leaving the family business, politics

China-US-TRADE-DIPLOMACY US commerce secretary Wilbur Ross met vice premier Liu He in Beijing
Jan Cook | 06 June, 2018, 03:27

But he said the us insistence on a five-year sunset clause was a deal breaker.

Mexico said on Monday it plans to file a complaint against the U.S.in the World Trade Organization, where it's challenging the imposition of tariffs on its products, specifically a 25 percent charge on its steel and 15 percent charge on its aluminum.

But Liu told U.S. negotiators that offer would be rescinded if the Trump administration imposed US$50 billion in long-threatened tariffs, people briefed on the latest negotiations told the newspaper.

Mexico ran up a $3.6 billion steel trade deficit with the U.S.in the past two years, according to the local steel industry chamber.

Numerous products targeted are produced by exporters in states that are politically important to United States President Donald Trump.

"We support the position of the Mexican government to impose the equivalent measure on diverse products", Mexico's Business Coordinating Council said of the retaliatory tariffs. Or, if it doesn't, Beijing has a whole new set of friends with whom to ally against the United States.

Last year, it stood at about $375bn.

US pork processor Hormel Foods Corp (HRL.N) markets products in Mexico and said it will closely monitor the impact of the tariffs. "That's why this issue is so important", Freedom Partners executive vice-president James Davis said in a statement.

Mexico announced its response to Trump's move last week with a focus on products from congressional districts that Trump's Republican party is fighting to retain in November. And they want trade to flow freely - something that makes them loathe tariffs.

USA goods exported to China previous year totaled $130 billion while Chinese imports to the US totaled $506 billion.

Missouri Gov. Eric Greitens resigns amid invasion of privacy investigation
During one sexual encounter between the two, the woman said he "smacked me and grabbed me and shoved me down on the ground". Louis grand jury indicted Greitens on February 22 on one felony count of invasion of privacy related to the alleged photo.

David Koch's departure will change the makeup of one of the most active and well-funded political forces in the country that has been a bulwark in not just supporting but setting the Republican agenda - although not necessarily President Donald Trump's.

Two-way trade is worth USA $600 billion annually but the U.S. has a deficit with Mexico of around United States $65 billion, which Trump has argued is evidence of unfair trade between the two countries.

The trade tariffs are 25 percent on imported steel and 10 percent on imported aluminum. Last week Washington said it was moving ahead with the metals tariffs on imports from Canada, Mexico and the European Union, ending a two-month exemption.

Other major pork processing companies that could feel the pinch of lower prices if Mexican tariffs lead to a glut in the United States include Tyson Foods Inc (TSN.N), Smithfield Foods Inc [SFII.UL] and JBS USA Holdings JBS.N.

The rally in the stock market also proves that investors don't believe the G-7 has the power to influence the US decision to impose tariffs despite its expressed "concern and disappointment".

The tariff dispute has further complicated already contentious and prolonged NAFTA negotiations and created further uncertainty about the future of the trilateral agreement.

Mexico said on Monday it will file a complaint with the World Trade Organization over USA tariffs on its steel and aluminum.

The ministry said it would open a 350,000 tariff-free quota for imports of pork legs and shoulders from other countries.

The package targets products produced in states that are key to Republican political power, including the U.S. farm belts that supported Trump in the 2016 presidential election.

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