giftedviz.com
giftedviz.com September 24, 2018


As Trump amps up trade war, China plays nice with foreign investors

12 July 2018, 04:42 | Austin Hogan

Trump Admin Signals Escalation of Trade War by Launching $200B in New Tariffs on China

‘Totally unacceptable’: Beijing vows retaliation if US taxes $200bn of Chinese goods

After the White House's latest threat of tariffs on billions of dollars of Chinese goods, officials in Beijing are looking to "hit back in other ways", according to a report by The Wall Street Journal.

China is shocked by what the United States did... the Chinese government will, as always, be forced to take necessary countermeasures.

The Chinese commerce ministry said that it was "shocked at the USA action" and warned that it would be forced to retaliate "to protect the core interests of the nation and its people".

The U.S. trade deficit in goods with China ballooned to a record $375.2 billion a year ago, stoking his anger over trade policies. They criticize Trump's tactics but share USA complaints about Beijing's industrial policies.

China 'cannot match fresh US tariffs, ' Vishnu Varathan of Mizuho Bank said.

The U.S. president has said he may ultimately impose tariffs on more than $500 billion worth of Chinese goods, roughly the total amount of U.S. imports from China a year ago. This has raised concerns that China could retaliate with non-tariff trade measures. "Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong".

One problem for Beijing is that it imports far less from the US than it exports - much to the annoyance of Donald Trump - and that gives it less scope to retaliate - they may run out of American goods to penalise.

Global stocks were dragged under by another wave of trade war worries as Donald Trump turned up the heat on China with plans to impose new tariffs on $200bn (£151bn) of goods.

The new trade frictions sent investors running for cover, with equity markets across Asia tumbling more than 1 per cent.

The measure is a significant escalation of the conflict and easily tops the $50 billion in tariffs that the two countries have so far levied on each other, or are about to levy.

20th Century Fox Executive Sues To Stop Fox-Disney Merger
Even as 21st Century Fox shareholders prepare to look at Disney's latest bid, Comcast is getting ready to increase its offer. Disney is reportedly thinking of selling off Fox's RSN's to various companies like AT&T, Charter and other companies.


76ers remain 'atop the list of teams' that could land Kawhi Leonard
While there are restricted free agents still available, the biggest names in free agency have found homes. Another team that has been mentioned as a possible landing spot is the Philadelphia 76ers .


China: Tit-for-tat tariffs will ‘destroy’ US-China trade
The US administration late on Tuesday released a huge list of new tariffs on $US200 billion worth of goods from China . As well, the American Chemistry Council urged President Donald Trump to "bring an end to this unnecessary trade war ".


The additional 6,031 product lines would be hit with a 10 percent tariff.

The Trump administration's decision was received with dismay by key lawmaker Senator Orrin Hatch, the chairman of the powerful Senate Finance Committee.Hatch said in a statement the decision "appears reckless and is not a targeted approach".

While China does not export enough goods to the USA to match the value of the announced tariffs, combining U.S. corporate revenue inside China with exports would give America a trade surplus of US$20 billion, according to research from Deutsche Bank cited by Bloomberg.

On Wednesday, China's main stock index lost 1.8 percent and Japan's market benchmark fell 1.1 percent.

It wasn't immediately clear how China would respond to the new tariff list.

They also said they remain open to working with China to try to resolve the dispute, but the response from Beijing so far has been unsatisfactory.

The Retail Industry Leaders Association, a lobby group representing the largest United States retailers, said: "The president has broken his promise to bring 'maximum pain on China, minimum pain on consumers'".

"This is going to drag on until they can all come to the table and agree to even the playing field".

And now China is ready to slap tariffs on American goods like French doors.

The United States is playing a risky game as China is one of the United States' most important trading partners, with about $630 billion (-$130 deficit) in trade done in 2017, not far behind Canada ($670 billion, +$8 billion surplus) and just ahead of Mexico ($616 billion, -$64 billion deficit). China received more USA crude oil in 2017 than the third- and fourth-largest importers combined, the United Kingdom and the Netherlands.



Other News

Trending Now

Thailand cave rescue: Brit divers who found boys 'deserve George Cross'
Police officers took photographs of each other at the massive cave entrance, as pumps continued to suck out huge volumes of water. Although the boys spent nine days without food and more than two weeks in the dark, damp cave, they seem to be in good health.

Trump Opens NATO Summit by Pitching a Fit
The dramatic exchange set the tone for what was already expected to be a tense day of meetings with leaders of the military alliance.

Tories rally behind PM amid Brexit chaos - but should May stay?
With less than nine months until Britain is due to leave the bloc, May is sticking to her plan for a "business friendly" Brexit. Culture secretary Matt Hancock has replaces Hunt as health secretary.

Nadal fights past Del Porto, Novak next
The twice champion broke back but squandered four set points in the second set tiebreak, with a double fault on one of them. Nadal caught Del Potro napping in the fifth game, the big man slipping on the worn baseline dust as he was broken to love.

Vettel wins British GP, Hamilton makes superb recovery
Then when Sauber's Marcus Ericsson skidded off with 19 laps left, Hamilton was handed another lifeline with a safety auto . That is what the statistics say", the Austrian told reporters over lunch at the British Grand Prix .

Paul Manafort treated like a 'VIP' in prison, court documents show
To make their case, they cited recorded jail calls and prison logs suggesting Manafort is getting treated better than most detainees, not worse.

Sadiq arrives for Rangers
When they asked me if I want to join this team or not, I said yes but I thought it might not really be Gerrard!" Coulibaly was on Tuesday unveiled as a Rangers player on a season loan deal from French League 1 side Angers.

Harry Kane gutted after England's World Cup exit
We've had this weight on our shoulders all the time, and now people will never forget us. The feeling, despite the obvious crushing blow, was that this was just the start.

Dejan Lovren Says He's One Of The Best Defenders In The World
Dejan Lovren believes he should be regarded as one of the best defenders in the world after helping Croatia knock England out of the World Cup.

Wimbledon wont budge on World Cup final clash, happy with phone viewing
He continued: "We are a sold-out event and there's massive interest". The final will be played at the Luzhniki Stadium in Moscow.