Monday, 19 November, 2018

Trump administration announces $US200 billion in extra China tariffs

What Is the Endgame for the Trump Trade Wars? Trump Announces New Taxes on TVs and Air Conditioners
Jeannette Daniel | 11 July, 2018, 23:33

US Trade Representative Robert Lighthizer said China's retaliatory tariffs were "without any worldwide legal basis or justification". But China only bought about $135 billion in US goods a year ago, meaning it will run out of American products to tax before it matches Trump's latest move. It's unclear what that action could include. Trump's threat came on Tuesday and stated a 10% tariffs on $200 billion worth of Chinese imports.

Analysts say the Chinese government could target trade in services between the two countries, such as tourism and education, or seek to make life hard for big American companies operating in China.

"The outburst of large-scale mutual levying of tariffs between China and the United States will inevitably destroy Sino-US trade", assistant minister of commerce Li Chenggang told a forum in Beijing on Wednesday.

Trump's latest action will hit consumer products, which were spared from the first import levies.

The U.S. imposed an initial round of 25% tariffs, applying to $34 billion in imports, as part of a $50 billion tariff plan. The US has suggested that it may ultimately impose tariffs on $500 billion worth of Chinese goods, or roughly the entire amount of US imports from China.

The US complains that China uses predatory practices in a push to challenge American technological dominance.

The tariffs could take effect after public consultations end on August 30, according to a statement from the US Trade Representative's office on Tuesday.

More news: Israel announces Gaza sanctions in response to cross-border blazes

The Trump administration said the new levies are a response to China's decision to retaliate against the first round of us tariffs. "China has a million and one ways to retaliate".

The move is a significant escalation of the trade war between Washington and Beijing, further raising the dangers of a major economic shock.

A potential implementation of the new tariffs on China will probably be a huge hit.

Beijing's lopsided trade balance with the United States means it will quickly run out of imports for retaliation.

"Unfortunately, China has not changed its behavior - behavior that puts the future of the USA economy at risk", he continues.

Reacting to the "totally unacceptable" decision by Washington, China's Ministry of Commerce in Beijing made it clear the world's second-largest economy would be forced to take "countermeasures".

Senate Finance Committee Chairman Orrin Hatch called it "reckless", adding that the tariffs were "not a targeted approach".

Recommended

  • You need to see this incredible footage from NYUAD

    However, the new event is significant because it is a troubling sign with regards to future sea level rise. The event lasted more than 30 minutes, but the movie was compressed to about 90 seconds.
    Former UCLA player Billy Knight, 39, found dead on Phoenix road

    Former UCLA player Billy Knight, 39, found dead on Phoenix road

    Either I'll be in heaven or will be in hell or I'll be in limbo, I don't know, but I'll take that chance". He also advises people suffering from mental illness to seek help, so they don't end up like him.
    DJI Mavic 2 Leak Hints at 360 Sensing and More

    DJI Mavic 2 Leak Hints at 360 Sensing and More

    If the DJI Mavic 2 leak shows an accurate image, there are still some remaining questions about the next DJI drone. With the See the Bigger Picture event pushed back, there is no indication on when the drone will hit the market.
  • Kevin Anderson didn't know he would face Roger Federer at Wimbledon

    Kevin Anderson didn't know he would face Roger Federer at Wimbledon

    Anderson took his opportunity, despite having to save three break points, to seal it in majestic fashion with an ace. I feel like a lot of aspects of my game can give him a lot of trouble'. "Matches likes that are very special".
    China issues warning for citizens traveling to US

    China issues warning for citizens traveling to US

    Trump imposed tariffs of 25 percent on steel imports and 10 percent on imported aluminum from several countries. The products would, of course, be significantly more expensive and the range probably more limited.
    Airbus to build rover for Mars Sample Return mission

    Airbus to build rover for Mars Sample Return mission

    Then, a second NASA launch will send the Sample Return Lander mission to land a platform near the Mars 2020 site. It could take around 150 days for the fetch rover to retrieve all the canisters left by Mars 2020 rover.
  • ‘Goosebumps 2’ Trailer: Slappy Is Back For A Haunted Halloween

    Yesterday, Sony and Goosebumps teased the release of the trailer with a tweet from the film's villain, Slappy. Slappy is back to wreak more havoc this Halloween in a brand-new comedy adventure based on R.L.
    China says it is 'shocked' by United States  actions in trade dispute

    China says it is 'shocked' by United States actions in trade dispute

    The move marked the latest escalation of the ongoing trade war between Washington and Beijing . The US omitted some high-profile items like mobile phones.
    Cardi B Announces the Birth of Her First Child, Daughter Kulture Kiari

    Cardi B Announces the Birth of Her First Child, Daughter Kulture Kiari

    Cardi B has had an undeniable cultural impact over the past year , and now, she's given birth to a daughter named Kulture. The rapper took to Instagram today to announce the birth of her child - and also revealed her new baby's name.
  • Alexander Zverev defeats Taylor Fritz in Wimbledon second round

    Alexander Zverev defeats Taylor Fritz in Wimbledon second round

    His win on Saturday was his third successive five-setter having also played three matches in qualifying. I started to play smarter. "I was seeing the ball much better".
    How Three Lions can reach the World Cup final

    How Three Lions can reach the World Cup final

    The midfield, in particular, has an enviable El Clásico combination of Real Madrid's Luka Modric and Barcelona's Ivan Rakitić. However, in the five England games he has officiated in, the Three Lions have not lost.
    Kylie Jenner Will Soon Be the Youngest Self-Made Billionaire Ever

    Kylie Jenner Will Soon Be the Youngest Self-Made Billionaire Ever

    At the tender age of 20, and between having a baby, Kylie has made the Forbes' annual list of America's Richest Self-Made Women . Of course, it all started with her now-infamous "Kylie Lip Kits", which she reportedly trademarked when she was just 17.

On this Day in 1998, Croatia Won World Cup Bronze On this Day in 1998, Croatia Won World Cup Bronze Our players are the ambassadors and football has the power to spread the message of unity and I think we are doing the same. Still the unthinkable and incredulity of the whole situation has influenced the England team.

China's CATL to build electric vehicle battery plant in Germany China's CATL to build electric vehicle  battery plant in Germany CATL's initial investment in the new factory will total 240 million euros. It declined to say how much the boost will cost.

Modric reveals Croatia biggest concern ahead of England clash Modric reveals Croatia biggest concern ahead of England clash They are making us all proud. "We took a hard route and we were unlucky, particularly in previous tournaments, especially the Euros".

Bank of Canada raises overnight rate target to 1 ½ per cent Bank of Canada raises overnight rate target to 1 ½ per cent CPI inflation is expected to edge up further to about 2.5 per cent before settling back to 2 per cent by the second half of 2019. The Bank said Canada's economy is operating "close to capacity", implying that it expects to see inflation rise in the future.

Mike Pence: 'I Do' Still Want Roe v. Wade Overturned Mike Pence: 'I Do' Still Want Roe v. Wade Overturned Wade being overturned. "I stand for the sanctity of life", Pence said separately. Supreme Court justice has everyone talking about the possibility of Roe v.

Palestine President: Will Pay Stipend To Political Prisoners Palestine President: Will Pay Stipend To Political Prisoners The stipends amount to approximately $330 million, or about 7 percent of the Palestinian Authority's $5 billion budget in 2018.

Guitar man Anderson wants rhythm not blues against Federer Guitar man Anderson wants rhythm not blues against Federer World number one Nadal faces a tricky test against power-hitter del Potro in his first Wimbledon quarter-final since 2011. He clawed his way from two-sets down to win 2-6, 6-7 (5/7), 7-5, 6-4, 13-11 in four hours and 13 minutes.

Caroline Flack and fiance Andrew Brady split Caroline Flack and fiance Andrew Brady split Caroline, 38, and Andrew, 27, briefly split in March when the reality TV hunk was accused of getting close to another woman. Unfortunately it was not to be. "Unfortunately it was not meant to be and I wish her all the best in the future".

Reds score seven runs in ninth to top Indians Reds score seven runs in ninth to top Indians Two outs happened - two outs! Raisel Iglesias worked the ninth for his second save in two nights and his 19th of the season. Adam Duvall also doubled in a pair in the ninth, while Jose Peraza and Eugenio Suarez had RBI singles off Allen.

Remember Gareth Southgate In This Pizza Hut Advert? Remember Gareth Southgate In This Pizza Hut Advert? Well this lad has got one of Kane. "It was the book which never was but it's unbelievable to think that we're here now and he's taken England to the semi-finals".

Bucks Rookie Donte DiVincenzo Reveals He's Basically Broke After Leaving Villanova Bucks Rookie Donte DiVincenzo Reveals He's Basically Broke After Leaving Villanova Assuming 120 percent of the rookie scale, he'd be on track for a two-year deal worth $5,386,800 ($2,481,000 being the cap hit). According to the NBA Rookie Scale, the first-year salary of a 17th pick should be around $2,067,500.

Cardi B Is Counter-Suing Her Former Manager for $15 Million Cardi B Is Counter-Suing Her Former Manager for $15 Million Now, Cardi B is countersuing Raphael for $15 million, accusing him of "self-dealing" and "deceitful and disloyal conduct". She further claimed that the manager tried to gain control over her career as well, in addition to her personal life.

England fans ‘dare to dream’ after World Cup win over… England fans ‘dare to dream’ after World Cup win over… And Mother Russia's penalty shootout anguish. "Luck was against us", Cherchesov said. "They still want to fight that war". But Modric said they would be ready to face Southgate's men.

Knox socks it to Fox with box-office Irish Open finish Knox socks it to Fox with box-office Irish Open finish Knox, who was on the 18th at the same time, hit a huge putt to put the pressure on the Kiwi. I guess Ireland and Scotland feel a little bit like home as well.

IOS bug crashes messaging apps on iPhones after typing ‘Taiwan’ IOS bug crashes messaging apps on iPhones after typing ‘Taiwan’ It helped to isolating the memory locations that stored a dereferenced null pointer and a faulty instruction that caused it. Anyone with that language setting wouldn't see the emoji but would instead see a square with a cross through it.