Monday, 24 September, 2018

China: US tariffs will hit intl. supply chains

China EU USA trade war alliance Donald Trump President Xi GETTYBut the EU rejected any idea of allying with China against Washington
Elsie Buchanan | 07 July, 2018, 02:54

Washington imposed tariffs on $34 billion of Chinese imports on Friday and Beijing has said it will retaliate with punitive measures on USA products worth a similar amount, including soybeans, pork and cotton.

President Donald Trump has ordered the U.S. to impose tariffs on $US50b worth of Chinese goods - and China has said it will retaliate in kind.

Its 0400 GMT and the US tariffs on China take effect, as confirmed by the US President Trump late-Thursday.

The taxes target 818 kinds of Chinese products in industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials and automobiles, according to a USTR list released previously.

After months of threats from President Donald Trump, at 12:01 a.m. Friday a trade war between the world's two largest economies began in earnest.

At midnight Washington time, the USA imposed new tariffs on $34 billion of annual imports from China. "There are lots of things they could do to make life hard for USA businesses operating in China that would be detrimental to us".

Gao also said United States business interests would suffer from the first set of tariffs, with about US$20 billion of the targeted goods, or 59 per cent, produced by foreign firms, including USA ones.

Trump has slapped tariffs on all major United States trading partners: China, Canada, Mexico, the European Union and Japan (India is way down the line but is not excepted).

In contrast, China imports only about $125 billion worth of goods from the US.

England has better chance against Brazil than Sweden, says Sven-Goran Eriksson
Sweden , therefore, have both the brand of football and the history to upset Gareth Southgate's men on Saturday afternoon. Much of the focus surrounding Brazil's bid for a record-extending sixth world title has inevitably been on Neymar.


Chinese Commerce Ministry spokesman Gao Feng said that the proposed US tariffs would hit many American and foreign companies operating in China and disrupt their supplies of components and assembly work.

In the run-up to Friday's tariff implementation, there was no sign of renewed negotiations between United States and Chinese officials, business sources in Washington and Beijing said. The motorcycle company announced last month it would move production out of the U.S.to get around the EU's retaliatory tariffs.

Mark Carney, the governor of the Bank of England, warned this week that further escalation of Trump's trade disputes would hurt the American economy most, with potential to lower U.S. economic growth by around 5%.

Trump himself tweeted this week that the economy is doing "perhaps better than ever" even "prior to fixing some of the worst and most unfair Trade Deals ever made by any country". "And it's making American companies less competitive", Gonzalez said. There did not appear to be any direct instructions to hold up cargoes, but some customs departments were waiting for official guidance on imposing added tariffs, the sources said. "And the impact on US business, in my estimation, will be substantial".

"Our view is that trade war is never a solution", Chinese Premier Li Keqiang told reporters during a trip to Bulgaria.

Of the $34 billion of Chinese goods targeted by the U.S., around 59%, or $20 billion, is produced by foreign-owned companies, including some from the U.S., Chinese Commerce Ministry spokesman Gao Feng said Thursday. But President Trump's fundamentally nativist outlook and his take-no-prisoners, give-no-quarter negotiating style, Indian officials are acknowledging privately, comes as a sobering reminder that there is no such thing as a free lunch or friendship based on geo-politics with a businessman-President. The president said USA tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks.

White House trade officials say the current strength of the USA economy means Washington can withstand more pain than its rivals if the battle escalates further.

If enacted, the import duty would make USA oil less competitive than other crudes, likely causing a decline in Chinese purchases and forcing US oil firms to find other buyers.

Beijing has also offered the EU an alliance in a trade war with the United States, claiming that "China and European countries are natural partners".

Recommended

  • Nawaz Sharif sentenced to 10 years in jail

    Nawaz Sharif sentenced to 10 years in jail

    It is a major setback for Nawaz Sharif's party which is contesting the election on all parliamentary seats. Sharif, who is in London tending to his critically ill wife, is expected to appeal.
    Ed Schultz, Progressive Talk Media Personality, Dies at 64

    Ed Schultz, Progressive Talk Media Personality, Dies at 64

    After leaving MSNBC , Schultz signed with RT America to produce "The News with Ed Schultz ". Liberal commentator and former MSNBC host Ed Schultz has passed away at the age of 64.
    Meghan radiates sunshine alongside Prince Harry at Commonwealth event

    Meghan radiates sunshine alongside Prince Harry at Commonwealth event

    It's the first time Meghan has worn a bright colour on an engagement with Harry since their marriage in May. As Commonwealth Youth Ambassador, Prince Harry gave a speech to the crowd.
  • Trump narrows his list for High Court nominee

    Trump narrows his list for High Court nominee

    Trump's choice, if confirmed by the Senate, would replace Kennedy, who last week announced his retirement , effective July 31. Senate Judiciary Committee that he chairs is beefing up staff to help evaluate President Trump's nominee to the U.S.
    Ant-Man And The Wasp: Rate And Discuss With Spoilers

    Ant-Man And The Wasp: Rate And Discuss With Spoilers

    But the directors, the Russo Brothers, have said that to raise the stakes, whatever we saw in the film was irreversible. And we are starting now the next one which will start a few minutes after Avengers 4 wraps as a story.
    Serena Williams beats Mladenovic to give notice that comeback title is on

    Serena Williams beats Mladenovic to give notice that comeback title is on

    In a match full of big swings, Keys led 5-2 in the first set before Rodina won the next nine games to go 4-0 up in the second. Stan Wawrinka also exited, losing to Italian qualifier Thomas Fabbiano 7-6 (7) 6-3 7-6 (6).
  • Angry Trump Baby blimp to fly over parliament during visit

    Angry Trump Baby blimp to fly over parliament during visit

    The President and the First Lady will then spend the night at Winfield House , the US ambassador's residence in central London . The Royal Regiment of Scotland - homeland of the president's mother - will pipe him out at the end of the dinner.
    Apple plans to add more colours to the 2018 iPhone lineup

    Apple plans to add more colours to the 2018 iPhone lineup

    According to the report, the forthcoming affordable 6.1-inch LCD iPhone will be available in grey, white, blue, red, and orange. And if you ask me, based on the mock created by 9to5Mac (shown above), the iPhone's new paint jobs would look pretty good.
    UK Poisoning: Police say Novichok may be left over March

    UK Poisoning: Police say Novichok may be left over March

    Paramedics who took one of the victims away were wearing hazmat protective suits, according to video footage obtained by Sky. Medics attended again several hours later, after Mr Rowley also fell ill.
  • Danilo available for Brazil against Mexico; Marcelo out

    Danilo available for Brazil against Mexico; Marcelo out

    As odd as it seems, Brazil's Marcelo could miss time due to a "hotel mattress" related back injury. Marcelo has missed games for Real Madrid due to muscle problems in both of the last two seasons.
    DNA tests for separated migrant children

    DNA tests for separated migrant children

    The government says the reunification process is going faster for parents now in ICE custody than those who have been released. They will need more time to collect DNA samples or other evidence from parents who have been released from government custody.
    Statue Of Liberty Climber Unrepentant; POTUS Calls Her A ‘Clown’

    Statue Of Liberty Climber Unrepentant; POTUS Calls Her A ‘Clown’

    The park service was reviewing security videotape to try to determine how the woman was able to make the climb, Willis said. Okoumou , an immigrant from the Democratic Republic of the Congo, refused to budge until " all the children are released ".

Deflected Emil Forsberg strike sends Sweden into quarter-finals Deflected Emil Forsberg strike sends Sweden into quarter-finals The win means Sweden's impressive campaign motors on as they await the victor of Colombia and England in the quarter-finals. Switzerland controlled possession early as Sweden mostly defended with 10 men behind the ball when in their own half.

YouTube stars die in 100-foot waterfall plunge YouTube stars die in 100-foot waterfall plunge They spent seven days in jail for violating the Yellowstone rules in Wyoming and were banned from United States federal lands. Gamble and Lyakh pleaded guilty to heading off the walkway at the park and onto the Grand Prismatic Spring.

US plans for dismantling North Korea nukes may face resistance US plans for dismantling North Korea nukes may face resistance In a Sunday interview with Fox News, President Trump said North Korea is (quote) "very serious" about denuclearization. North Korean leader Kim Jong Un, a noted basketball fan, didn't appear at the gymnasium on Wednesday.

Trump re-ups 'infestation' rhetoric in immigration debate Trump re-ups 'infestation' rhetoric in immigration debate They say, quote, "abolishing ICE without changing President Trump's disastrous immigration policy will not solve the problem". ICE was created in 2003 as part of a federal government reorganization following the September 11, 2001 terrorist attacks.

President Trump in Great Falls President Trump in Great Falls In a second tweet , Teigen wrote: "And why would you have to toss it? where is he going with this? his brain is eating itself". Bob Corker during a Senate Armed Services Committee hearing on nominations in the Hart Building, Feb. 8, 2018, in Washington.

Investigators' emails to US Rep. Jordan went to bad address Investigators' emails to US Rep. Jordan went to bad address Former Ohio State wrestler Mike DiSabato told NBC News that Jordan is a "liar" for saying he did not know about the alleged abuse. I believe him 100 percent", Trump told reporters aboard Air Force One while traveling to Montana.

Wimbledon 2018: Serena Williams battles through opening challenge Wimbledon 2018: Serena Williams battles through opening challenge I also think it's healthy in a way for me to do what I need to do, be that working mum, then go back home and be the mum". She slid feet-first into the net and stayed down for a bit before being checked on, but she continued to play.

Tropical Storm Beryl forms east of Lesser Antilles Tropical Storm Beryl forms east of Lesser Antilles The National Hurricane Center in Miami say the storm's winds had strengthened to 40 miles per hour (65 kph) by Thursday afternoon. Hurricane Beryl is located about 1140 miles east-southeast of the Lesser Antilles and is moving to the west at 14 mph (22 km/h).

F1: Mercedes British GP practice Verstappen brought to a halt F1: Mercedes British GP practice Verstappen brought to a halt I think it's happening everywhere else. 'I go into this weekend with same mentality, hoping the auto is reliable. I tried to manage, I could see my tyres opening up.

Scott Pruitt resigns as chief of United States Environmental Protection Agency Scott Pruitt resigns as chief of United States Environmental Protection Agency Pruitt, a close ally of the fossil fuel industry, also was known for questioning the human role in global climate change. Pruitt's ethics issues have made him a favorite target of critics of the Trump administration.

Chestnut sets record at Nathan's contest Chestnut sets record at Nathan's contest Not only did Chestnut win, but he beat his own record while simultaneously setting a new world record . The pair wasn't a match for returning champ Sudo who scarfed down 37 hotdogs and buns in 10 min.

Former Thai Navy SEAL Dies Trying to Help Trapped Boys Former Thai Navy SEAL Dies Trying to Help Trapped Boys The Thai government said Musk's team could help the rescue operation with location tracking, water pumping or battery power. That could take months, however, given that Thailand's rainy season typically lasts until October.

Belgium - World Cup - 6 July 2018 Belgium - World Cup - 6 July 2018 He can, therefore, expect to come up against not only Hazard but also Thibaut Courtois who will nearly certainly man the posts for Belgium .

LG patent shows a smartphone that folds vertically like a flip phone LG patent shows a smartphone that folds vertically like a flip phone Revenue likely came in at 58 trillion won ($51 billion), a decrease of almost 5 percent from a year earlier. Q1 2018 was Samsung's sixth record quarter in a row, but it warned that Q2 would see a slowdown.

Airplane 'love story' takes off on Twitter with Texas residents Airplane 'love story' takes off on Twitter with Texas residents The love thread got viral all over the Internet and hashtag PlaneBae was soon trending on the micro-blogging site. Blair also tweeted that the mystery woman is unsure of the attention, but feels positive about it.