August 21, 2018

Chinese state media accuse US of mobster mentality, vow to fight tariffs

11 August 2018, 08:07 | Austin Hogan

Thomas Peter-Pool Getty Images Donald Trump with Chinese President Xi Jinping

Thomas Peter-Pool  Getty Images Donald Trump with Chinese President Xi Jinping

America's second largest steel manufacturer Nucor once spent one million US dollars to fund "Death by China", a documentary made by Peter Navarro, who's now the director of the White House National Trade Council.

When the additional tariffs go into effect on August 23, both sides will have taxes on about $50 billion worth of imports from the other.

However, it was absolutely not the case that China brought this upon itself, the People's Daily commentary said. Apple has a major assembly unit in mainland China.

China National Petroleum Corporation already has a commercial agreement with Cheniere Energy to buy LNG for 25 years and a few heads of agreements have been signed between United States suppliers and Chinese customers. The government could force Apple into a corner, helping Samsung and local Chinese companies pick up market share in the process. And US President Trump has made it clear that it could reach another $ 200 billion.

More assistance for China's tech sector would mark the latest in a series of growth-boosting measures being rolled out by Beijing as an escalating trade war with the United States puts more pressure on China's already slowing economy. "But it is all hard to predict on a day-to-day basis what's coming down the pike", says David Page, a senior economist for AXA Investment Management in London.

The latest trade data published by China's General Administration of Customs showed the Chinese crude oil imports rose slightly in July after falling for the previous two months, Reuters reports.

Death toll from Indonesia quake climbs over 320
A Reuters witness said the latest quake sent people into the streets in panic and caused buildings to collapse. There have been 355 aftershocks since the last quake happened on Sunday, which killed at least 131 people.

Pogba leads Man Utd to winning start
It's over, the market is closed. "I think football is changing and probably football managers should be called head coaches". Boss Jose Mourinho selected the £89m signing despite his lack of pre-season following an extended post-World Cup rest.

Argentina's senate rejects abortion bill
Many women, a lot of them poor, have risky and degrading abortions every year - and activists estimate 3,000 have died since 1983. Only in the Central American trio of El Salvador, Honduras and Nicaragua does it remain totally banned.

Vacationing at his Bedminster, New Jersey golf club, the president on Tuesday promised a dinner gathering of chief executives that the United States and China would soon have a "fantastic trading relationship".

As the tariffs began in March starting with steel and aluminum, China retaliated with the same dollar amount.

USTR Robert Lighthizer says, "The increase in the possible rate of the additional duty is meant to provide the administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that will lead to fairer markets and prosperity for all of our citizens". Beijing says it is ready to retaliate against $60 billion of American imports. The blowback from the trade war is becoming apparent in the American job market, with a USA -based television factory planning to shed staff. Element Electronics, a TV manufacturing plant in SC, will layoff at least 126 employees from its Winnsboro plant on October 5th.

But China has notched a pair of concrete victories in the trade showdown, according to Jeff Moon, a former USA trade negotiator in the Obama administration.

"In the short run some winners include Australian agriculture, Airbus and Mexican electronics", says Baptist, who also admits that those gains will be short-lived if the trade war dust starts to settle. Longer term contract negotiations could also be affected.

Numerous products are technology-related, reflecting Washington's continued desire for China to make concessions on its Made in China 2025 initiative.

Other News

Trending Now

Whitmer, Schuette win governor nominations
But the Secretary of State's office told voters to stay in line - everyone who was in line by 8:00 p.m. was allowed to vote. And in Missouri, Republicans nominated Josh Hawley, the state attorney general, as their challenger against Sen.

Bitcoin Price Falls Drastically After Bitcoin ETF Decision is Postponed
This is the highest level since December 20, 2017, just days after bitcoin hit its record high of $19,783.21 on December 17. These are certainly amongst the most important decisions regarding the further development of the cryptocurrency markets.

Mourinho slams negative Man United coverage
Speaking about Pogba before the game, Mourinho explained: 'He arrived on Monday, happy, proud, with desire to work. Man Utd have registered victory in 17 out of 26 opening day fixtures they have played in.

Jose Mourinho criticises Manchester United summer - Leicester spent more than us
He lasted 84 minutes before being replaced by Marouane Fellaini, with Mourinho describing his captain as a "monster". That's not surprising, because I know from experience that everyone is a bit rusty for the first game back.

Tiger Woods battles inflammation ‘everywhere’ this week at PGA Championship
Andrews a month later, so I wasn't really asked a lot, other than, 'What would it be like to complete the career Grand Slam at St. "I have put myself in contention in the majors". "It's going to be the quintessential target golf", McIlroy said.

2 of 4 killed in Canada shooting are police officers
He said don't go out, there's something going on next door. "I recognize that they caught the person and he is in the hospital". Atlantic time, when local resident David MacCoubrey said he woke up to the sound of three gunshots outside his bedroom window.

Google Acknowledges Epic’s ‘Fortnite’ Isn’t On The Play Store
Epic has to share 30 percent of those purchases made on iOS devices with Apple due to the terms of the App Store. Epic Games and Samsung also provided a list of devices that will be compatible with Fortnite Beta.

Adventure Arkansas: Perseid Meteor Shower
People can look directly overhead to see the meteors, as long as they are in a dark area without too much light pollution . The comet that left the Perseid meteor stream is a piece of dirty ice about 26km in diameter called 109P/Swift-Tuttle.

DOOM Eternal officially coming to Switch
A highlight of the previous Doom , the glory kills are getting updated and the enemies are more destructible this time around. The lengthy gameplay demo was part of a keynote delivered at Quakecon, the annual showcase for all things id (and Bethesda).

Manchester United transfer woes summed up by Gary Neville's old tweet
Paul Merson thinks Manchester United should sell Paul Pogba and buy Tottenham Hotspur's Mousa Dembele . Jamie Vardy is less likely, as Kelechi Iheanacho has been scoring goals aplenty in pre-season.