Wednesday, 19 September, 2018

US, China fire first shots in 'largest trade war in economic history'

China EU USA trade war alliance Donald Trump President Xi GETTYBut the EU rejected any idea of allying with China against Washington
Ebony Burgess | 09 July, 2018, 05:33

President Donald Trump's trade war with China kicked off on Friday, when the United States started applying 25 percent in tariffs on $35 billion worth of Chinese imports and China fired back with taxes on the same amount of USA goods. Since then, the sides have traded salvos, with the USA focusing its import duties on high-tech equipment while China has targeted products like cars, soybeans, and lobsters - many of which are produced in areas of the US that voted for Trump. The price of US soybeans has plunged 17 percent over the past month on fears that Chinese tariffs will cut off American farmers from a market that buys about 60 percent of their soybean exports.

While the administration says the trade barriers will force China to stop stealing American intellectual property, it appears more likely that non-Chinese businesses will bear the brunt of the tariffs, according to an analysis by the Peterson Institute for International Economics.

The ministry called the United States actions "a violation of world trade rules" and said that it had "initiated the largest-scale trade war in economic history".

An unprecedented trade war has begun, with USA tariffs on $34 billion in Chinese imports taking effect Friday.

Beijing, which denies these charges, was swift in responding in kind after the first tranche of planned U.S. levies on Chinese goods announced by President Donald Trump kicked in on Friday. The implementation of new USA duties on these products will impact companies from outside China, including the U.S. "The countdown is on as to what Trump will do next".

"I've watched for too many years. how we always end up taking the brunt of most trade deals", he said.

"The $50-billion trade war will slow down China's GDP growth by 0.2 percentage points", Ma told Xinhua, China's official news agency. "So we have 50 plus 200 plus nearly 300". Other major USA trading partners such as the European Union, Mexico, and Canada have also slapped retaliatory tariffs on various US goods. "Isn't that right?" the company owner Li Jiang said. A long list of targeted Chinese products directly purchased by Americans such as TVs, printers and washing machines was sharply revised in June following a trade hearing.

Neymar joins Messi and Ronaldo in Kazan mural club
They can't afford any hiccups like that against the Brazilians, whose backline should make the difference in this game. Sweden will come into this game considered an underdog, but the team has all the tools to overcome England .

Despite three rounds of negotiations between the two sides, including a Chinese pledge to significantly increase purchases of American products, Trump made a decision to go ahead with the tariffs.

A spokesperson for the Alliance of Automobile Manufacturers said in an email Friday that some U.S. carmakers may not feel a major impact right off the bat.

Asked whether USA companies would be targeted with "qualitative measures" in China in a trade war, Gao said the government would protect the legal rights of all foreign companies in the country.

China accused the USA of launching the "largest trade war in economic history", saying it was "typical trade bullying" that could trigger "global market turmoil".

'There should be no doubting Beijing's resolve, ' the newspaper said. "At that point, the United States will be more interested in negotiations, and the Chinese side will also want to come to the table".

The EU, stung by the steel tariffs, has launched retaliatory tariffs worth $3.4bn on a wide variety of products, including whiskey, Levi's jeans and Harley-Davidson motorcycles.

While purchases have slowed from China, the world's biggest importer, American soybeans got so cheap that other countries have started to increase purchases, U.S. government data show.

Recommended

  • North Korea calls denuclearisation talks with U.S.  'regrettable'

    North Korea calls denuclearisation talks with U.S. 'regrettable'

    Security Council has demanded numerous times that the North dispose of its nuclear weapons and end its ballistic missile program. It is the first time he has visited North Korea since a summit between Donald Trump and Kim Jong-un in Singapore.
    Low-key England start as favourites against Tunisia

    Low-key England start as favourites against Tunisia

    But we used to know each other and speak. "One of the big negatives from the Euros was that first game against Russian Federation ", he said.
    Flags lowered in CT  to honor shooting victims

    Flags lowered in CT to honor shooting victims

    Only the governor of a state or the president can order an American flag lowered to half-staff, per the USA flag code. It was an attack on freedom of speech. "But there's certain protocol that is followed".
  • LeBron James looking to change style of play with Lakers?

    LeBron James looking to change style of play with Lakers?

    LeBron has been the No. 1 victim of Stephenson's antics, and the most memorable thing he did was when he blew into James' ear. James signed with the Lakers just hours after opting out of the final year of his contract with the Cavaliers.
    Royal honeymoon: the clues continue to roll in from Prince Harry

    Royal honeymoon: the clues continue to roll in from Prince Harry

    He gave us a step-by-step guide of how to get the Los Angeles native's signature eyes, brows and glowing skin. She explained, at the time: "It was more than a wedding, I thought".
    Philadelphia 76ers to meet with reps for LeBron James

    Philadelphia 76ers to meet with reps for LeBron James

    The basketball star was also welcomed to LA Lakers by star footballer Zlatan Ibrahimovic on Twitter , who plays for LA Galaxy. In a move that comes as no surprise, superstar LeBron James has signed a free agent deal with the Los Angeles Lakers .
  • Iran's OPEC Boss: Trump's Tweets Have Added $10 to Oil Prices

    Iran's OPEC Boss: Trump's Tweets Have Added $10 to Oil Prices

    Oil was trading at over $78 per barrel of the Brent benchmark on Thursday, while US West Texas Intermediate was trading at $74.55. In late morning trading, the price of the global benchmark Brent grade of crude oil was little changed at $77.85 a barrel.
    British Lawmaker Calls for Ban on Bouncy Castles After Girl’s Death

    British Lawmaker Calls for Ban on Bouncy Castles After Girl’s Death

    Ms Furmedge, from Chester-le-Street, and Ms Collings, from Seaham, died from injuries suffered when they fell from the artwork. The investigation is being coordinated by the Health and Safety Executive (HSE) local authority and police.
    Lance Stephenson agrees to join Los Angeles Lakers on one-year deal

    Lance Stephenson agrees to join Los Angeles Lakers on one-year deal

    He could still re-sign with Cleveland, although the strong current from national media is James appears ready to move again. The other main team affected is the San Antonio Spurs , who are looking to deal unhappy star Kawhi Leonard to the Lakers .
  • Sacha Baron Cohen Video Teases Trump-Centric Project

    The video then teases that Cohen, "Is back... like you've never seen him before". Soon" - followed by the Trump University logo. Then a caption reads: "He's back".
    Brazil v Mexico 02 July 2018

    Brazil v Mexico 02 July 2018

    Brazil star Neymar was yet again at his acting best during his team's World Cup last 16 match against Mexico in Samara . Writhing in agony after his right ankle was stepped on by Miguel Layun , Neymar managed to get back on his feet.
    Wild: LeBron going to the Lakers only adds to West test

    Wild: LeBron going to the Lakers only adds to West test

    The USA Today listed a few possible players who might be willing to play with James for the minimum. The Sixers also have centre Joel Embiid , 24, projected to become the game's next dominant big men.

ROFL! Neymar Challenge is making people roll all over the world ROFL! Neymar Challenge is making people roll all over the world With only one loss under him, the five-time world champions arrived in Russian Federation among the main title favorites. Laurence Griffiths/Getty ImagesNeymar looking anguished during Brazil's World Cup quarter-finals match against Belgium .

Statue of Liberty climber awaits court appearance in NY Statue of Liberty climber awaits court appearance in NY Those who were arrested had dropped a banner that read "Abolish ICE" from the statue's base, a reference to the U.S. Dave Somma told NBC 4. "I would have said let's get some nets, we'll wait 'til she....just get some nets", he said.

Serena Williams wins first Wimbledon match as a mom Serena Williams wins first Wimbledon match as a mom In addition to Federer's Nike RF logo, the logo on the right shoe has the No. 8, reflecting how many Wimbledon's he has won. Venus reached her ninth Wimbledon final previous year , but the American star was denied a sixth title by Garbine Muguruza.

China Blasts US for 'Opening Fire on the Entire World' With Tariffs China Blasts US for 'Opening Fire on the Entire World' With Tariffs Both countries threatened to levy tariffs this week, however, China said it would not be the first to impose the measures. The US measures are expected to take effect first, shortly after midnight ET on Friday.

Walmart boycott: Calls mount over 'Impeach Trump' items Walmart boycott: Calls mount over 'Impeach Trump' items Last year, Walmart came under fire after a third-party seller offered T-shirts that suggested killing journalists. It appears that Walmart has now taken down the listing for the shirt, caving in to the pressure.

Brazil v/s Mexico, Belgium v/s Japan- matches, schedule on July 2 Brazil v/s Mexico, Belgium v/s Japan- matches, schedule on July 2 Brazil play their first Round of 16 match as one the favorites to hoist the trophy in Russian Federation . The national teams of Belgium and Japan played last time in 2002, the game ended in a draw 2-2.

Amazon Prime Day sales event to debut in Singapore on July 16 Amazon Prime Day sales event to debut in Singapore on July 16 This affordable backpack - now offered at 20% off - comes in seven stylish colors so that you can pick a pack to suit your style. Amazon's mobile apps normally send a push notification whenever products in your wishlist go on a Lightning Deal.

Uruguay's Cavani not ruled out of World Cup QF Uruguay's Cavani not ruled out of World Cup QF But we will try our best and look to impose our way of playing on them, using our strengths. After the Portugal game Cavani told reporters: "I hope it's nothing".

Pompeo to visit Mexican president-elect; discuss immigration, trade Pompeo to visit Mexican president-elect; discuss immigration, trade On Tuesday Mr Lopez Obrador will meet President Enrique Peña Nieto to begin the handover process, ahead of his Dec 1 inauguration. And when he takes office in December, AMLO-as the president-elect is known-will have to please those who voted for him.

Official renders of the Samsung Galaxy Tab S4 leaked Official renders of the Samsung Galaxy Tab S4 leaked Jio users can avail instant cashback of Rs 2,750 which will be credited to their MyJio account on recharges of Rs 198 and Rs 299. The smartphone features "Chat over Video", to allow users to reply to messages without interrupting any already playing video.

Third-parties may read your Google Mail emails if you allow it Third-parties may read your Google Mail emails if you allow it Some Gmail users may be shocked when they realize that humans may have read their emails on Gmail. The Wall Street Journal spoke to a number of companies that said they had read people's emails.

Israel has deployed to the Golan heights, additional tanks and artillery Israel has deployed to the Golan heights, additional tanks and artillery Last week, rebels said the United States had told them not to expect any American military support. The Russians were not ready to listen to our demands.

'Big Bang Theory' star Kaley Cuoco marries equestrian 'Big Bang Theory' star Kaley Cuoco marries equestrian Well after almost two years I finally got up the courage to ask her to marry me. She gushed: "We're totally going to get married".

North Korea Believed to be Increasing Nuclear Production North Korea Believed to be Increasing Nuclear Production If Kim does visit NY in September, it will be the longest journey he has ever taken as North Korean leader. The Defense Department has always been skeptical of North Korea moving quickly to denuclearize.

OnePlus 6 now comes in red OnePlus 6 now comes in red The new phone has an additional "evaporated layer of brightening film" to bring out that bright (but not too bright) red luster. Not only this, images of the red coloured OnePlus6 have also been posted online by the leak site Slashleaks.