giftedviz.com
giftedviz.com July 23, 2018


New tariffs readied for Chinese goods

13 July 2018, 01:57 | Darnell Patrick

US to impose tariffs on $200 billion Chinese imports

US prepares to impose new tariffs on additional $200B worth of Chinese goods

Beijing gave no details of the possible retaliation but earlier it threatened "comprehensive measures".

"Despite the relative optimism our members feel guarded about the future", AmCham said in its statement. It said, "the Chinese government will be forced to impose necessary countermeasures" to protect its "core interests".

Now the Trump administration, as Scott Horsley just mentioned, is threatening an additional $200 billion worth of tariffs on Chinese products. The US omitted some high-profile items like mobile phones.

Shanghai markets were hardest hit overnight, with stocks there down nearly 2 per cent and the yuan weakening towards last week's 11-month lows, down 0.4 per cent to 6.66 per dollar.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years. "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.

The new list-targeted at China's key manufacturing export industries-contains over 6,000 products, including fruits, vegetables, live eels, feathers and beaver heads as well as hi-tech minerals that the USA needs.

"This type of irrational behavior is unpopular", the statement said, adding China would tack on the case to its suit against the USA at the WTO. "It's up to them to open the door again". After an initial 0.8 percent rally, the loonie swooned more than 1.2 percent when policymakers said USA tariffs would have a bigger effect on the economy than originally anticipated.

"The impact will likely start to show up in China's exports in Q4, but we expect the bulk of the impact to take place in 2019, given the consultation process", Deutsche economists led by Zhiwei Zhang wrote in a note.

Senate Finance Committee Chairman Orrin Hatch said the announcement "appears reckless and is not a targeted approach".

Meghan Markle Masters the Quick Outfit Change Upon Arriving in Ireland
Meghan paired the look with Paul Andrew heels in black suede, diamond earrings from Birks, and a sleek, center-parted bun. The Duchess of Sussex has just upped her wardrobe game, and now officially joins the ranks of the Very Well Dressed.


New promotional poster nearly showing the whole Samsung Galaxy Note 9 look
The publication claims that a local Samsung store also confirmed that the Note 9 will be arriving with the same starting price. That's because the invite and Twitter posting thereof showed a bright yellow S Pen.


As Trump amps up trade war, China plays nice with foreign investors
The new trade frictions sent investors running for cover, with equity markets across Asia tumbling more than 1 per cent . On Wednesday, China's main stock index lost 1.8 percent and Japan's market benchmark fell 1.1 percent.


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'". "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

This action follows tariffs of 25% imposed on $34 billion worth of Chinese goods, made effective July 6; flooring was not included on that list.

Last week, Washington imposed 25 percent tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of USA exports to China.

Additionally, they cover bags and boxes; building products, luggage and include some categories of plastic machinery and molds apparently not covered in previous tariffs. Before now, the administration had scrupulously avoided slapping tariffs on consumer goods in order to spare USA shoppers from direct economic pain.

The US is now considering levying duties on a further $16 billion (Rs 11,036 crore) in Chinese goods, after a public hearing this month, Bloomberg reported.

However, a move by China against U.S. multi-nationals "could pose a far greater threat to the index in time", Jones said.

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. A full-blown global trade war would shave 0.4 percentage point off world growth, according to Bloomberg Economics.

The US wants China to stop practices that allegedly encourage transfer of intellectual property - design and product ideas - to Chinese companies, such as requirements that foreign firms share ownership with local partners to access the Chinese market.



Other News

Trending Now

Forbes Faces Backlash After Calling Kylie Jenner "Self-Made"
Dictionary.com also pointed out that the searches for "self-made" were up by 18,628 per cent on their website. Jenner now ranks at number 27 on Forbes' list of " America's Richest Self-Made Women ".

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 .

Top Memes After Croatia Beat England in World Cup Semi-final
Only Uruguay - who lifted the inaugural title in 1930, and again in 1950 - has a smaller population among all World Cup finalists. As the extra period started Croatia struggled to maintain their intense pressure but continued to threaten the England defense.

Ryan issues warning to ex-FBI lawyer defying subpoena
It was then that he heard the news that she may defy the subpoena and refuse to testify and condemned it as a "total disgrace". President Trump has seized on the Strzok and Page's texts to denounce the Mueller probe as nothing more than a "witch hunt".

Door not closed on my T20 career, says Root
With the help of half-centuries from all-rounder, Ben Stokes and wicketkeeper Jos Buttler England scored 268 runs in 49.5 over. His decision was not proving to be the best as England openers Jonny Bairstow and Jason Roy were scoring at 8 runs per over.

Chequers’ Brexit White Paper explained in 300 words
He said "the deal she is striking is a much different deal than the one the people voted on". So I think allowing millions and millions of people to come into Europe is very, very sad".

Why Entrepreneurs Carry Business Cards
You will have to wait for them to visit your website or store later and this can mean they’ve already forgotten about you. If you succeed in creating a memorable business card, you don’t just connect deeper with the person you gave the card to.

Man who harassed woman over Puerto Rico shirt charged with hate crime
It's not clear when the investigation into the officer's response will be completed. "Then you should not be wearing that". Those charges were upgraded to hate crime charges, according to NBC News , and he was arrested again on Thursday.

Trump visit latest: U.S. president arriving in the UK
Ms Elliott, who is originally from Virginia, said she is hopeful there could be a state visit by Mr Trump next year. May welcomed Trump's decision to "engage" with Russian President Vladimir Putin in the Finnish capital on July 16.

Sam Beal needs to be selected in the supplemental draft
Although he has average speed, he is very aggressive and can take receivers out of the play if he gets the upper hand early. The Rams can't expect to sign everyone, especially with an extension for Aaron Donald likely coming at some point.