giftedviz.com
giftedviz.com September 23, 2018


China Trade War Heats Up As Tariffs Take Effect

11 July 2018, 10:03 | Darnell Patrick

Image Donald Trump and Xi Jinping have appeared to have a warm relationship in the past

Donald Trump and Xi Jinping have appeared to have a warm relationship in the past

They kicked in just after midnight ET, which is noon in Beijing. The president said USA tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks.

US energy, agricultural and chemicals companies are girding for a summer standoff over trade as a midnight deadline approaches for Washington to impose the next round of tariffs on a wide range of Chinese goods.

Beijing insists it's the injured party.

"China promised not to fire the first shot, but in order to defend the core interests of the country and the interests of the people, we are forced to take the necessary countermeasures", China's commerce ministry said in a statement. It accused the United States of "typical trade bullying".

That would bring the total of targeted Chinese goods to potentially $550 billion - more than the $506 billion in goods that China shipped to the United States past year.

The trade war that erupted Friday between the US and China carries a major risk of escalation that could weaken investment, depress spending, unsettle financial markets and slow the global economy.

Gao pointed out that China is an important supporter and participant in economic globalization and the global industrial chain, and many of its export commodities are products made by foreign enterprises in China. "Soybean demand is there, and it's really, really big as soybeans go into different channels".

A China central bank adviser said the planned USA import tariffs on $50 billion worth of Chinese goods - $34 billion plus a planned follow-on list worth $16 billion - will cut China's economic growth by 0.2 percentage points, although the overall impact would be limited, the official Xinhua news agency reported Friday. The rest of the world would suffer collateral damage, even if the United States were to refrain from penalising imports from other countries.

'There should be no doubting Beijing's resolve, ' the newspaper said.

She notes, "80 percent of "red" states produce goods subject to retaliatory tariffs totaling 10 percent or more of GDP, compared to 10 percent of "blue" states".

Soybean farmers, apple growers and auto workers are among the USA workers bracing for fallout from a trade war between the United States and China.

France vs Belgium predictions, stats and betting tips
Thierry Henry brings that [experience] as a footballer of elite thoughts. He is on the bench and facing his home nation. He has a great passion for football.


Tennessee Senators Reserve Judgment On Supreme Court Nominee Brett Kavanaugh
Given Kavanaugh's conservative bent, many Democrats are up in arms about the future of Obamacare should the judge be confirmed. Kavanaugh has served on the bench of the Washington , D.C., Circuit Court of Appeals since 2006, appointed by Bush.


African players in France's World Cup team
This summer's edition of Les Bleus is composed of players who know France as a country that can win. They started a bit slow but have been upping their game as the tournament is progressing.


American soybean farmers are warning that President TrumpDonald John TrumpWhat to know about Trump's Supreme Court pick so far Bookstore owner calls police after customer confronted Steve Bannon McConnell pushing Trump toward 2 potential Supreme Court picks: report MORE's trade dispute with China will result in "serious damage" to their industry.

China's exports to the United States increased by 5.4 percent in the first half, 13.9 percentage points slower than the same period previous year, customs data showed.

Even if the trade disputes worsen, the harm to the US economy will probably be limited for the next few months.

With no official talks scheduled between the two countries, and disagreements within the Trump administration about how best to proceed, a quick resolution seems increasingly unlikely, the New York Times reported. It also is rooted in the clash between American notions of free trade and Beijing's state-led development model.

Besides affecting "innocent" transnational companies, the tariffs will also hurt ordinary companies, global consumers, as well as USA enterprises and consumers, the Chinese ministry added. The principles underlying the trade policies of New Delhi and President Trump unfortunately are similar - and they are both wrong.

For the time being, analysts say it's hard to see Washington or Beijing backing down in the dispute.

President Trump has taken long overdue action to finally address the source of the problem by addressing China's unfair trade practices that hurt America's workers and its innovative industries.

Amidst a trade war between the USA and China, a Chinese company is manufacturing flags for President Donald Trump's 2020 re-election campaign, a media report said.

The strength and size of both economies means the fight could rage on for years.

The president has said trade wars could be good for the economy - and "easy to win".



Other News

Trending Now

'Orange Is the New Black's Season 6 Trailer Is Finally Here
But if you don't think you'll be able to wait that long for your Litchfield fix, we have just the thing for you. Orange is the New Black Season 6 launches globally on Netflix Friday, July 27.

Tab Hunter, 1950s Hollywood heart-throb, dies aged 86
Thank God! I know that when Tony Perkins and I were seeing each other, Paramount told him they didn't want him to see me anymore. Hunter continued to appear in films through the 1980s, including two memorable screen performances opposite drag legend Divine .

Thailand Cave Rescue Latest: More Schoolboys Are Saved
Last night, Thai navy SEALs posted a celebratory note on their Facebook page, saying: "Have sweet dreams everyone". Monsoon flooding blocked their exit route and prevented rescuers from reaching them for almost 10 days.

Investigators probe scene of Wonderboom plane crash for clues
The plane had been due to fly later this week to Aviodrome via east Africa, through Egypt, Croatia, Austria to the Netherlands. The plane had the words "Martin's Air Charter" painted on it, which was a previous name of Dutch cargo airline Martinair.

Johnny Depp sued for allegedly punching crew member
The lawsuit says Furman forced Brooks to go beyond his duties and tell Depp himself that shooting had to end. Brooks claims Depp hired two of his friends for a scene in downtown L.A. on April 13, 2017.

Associate McCain pointed out Trump how to negotiate with Putin
This disdain for US allies is essentially the beating heart of much of Trump's foreign policy, it seems. Much of the rest of Trump's foreign policy is equally freakish .

'Appreciate your allies, you don't have many:' EU's Tusk to Trump
On Nato, President Trump's main objection is that a number of member states have not increased their defence budgets to the target of 2% of economic output.

Billy Dee Williams to reprise role in 'Star Wars: Episode IX'
Rumors have been swirling about Williams' return to the role for some time, but have only just been confirmed today. Star Wars: Episode IX will be produced by Kathleen Kennedy, Michelle Rejwan, Abrams, Bad Robot, and Lucasfilm .

GOP ex-Sen. Jon Kyl will be the 'sherpa' for SCOTUS nominee
The White House reassigned key communications staff last week to focus exclusively on the looming Supreme Court fight. Kennedy announced his retirement two weeks ago , citing a desire to spend more time with his family.

US warships passed through the Taiwan Strait, officials say
On Wednesday, the carrier changed the name of Taiwan to Chinese Taipei on its website, following advice from India's government . The two ships were identified as the guided-missile destroyers USS Mustin and USS Benfold , both based out of Japan.