Tuesday, 16 October, 2018

China to Cut Import Taxes as Soon as October, Sources Say

China Half of firms facing levies will be foreign Walmart urges Trump administration to roll back new tariffs on Chinese imports: report
Faye Gross | 23 September, 2018, 18:25

The predatory practices, the US says, are part of China's relentless drive to challenge American technological dominance.

"We're going to go US$200 billion at 25 per cent on Chinese-made goods". The same applies to potential U.S. job losses due to declining exports to China: they won't happen fast enough to have any impact on November's mid-term elections in the United States.

President Donald Trump is ready to up the ante, threatening to tax just about everything China ships to the United States.

Meanwhile, Xi's regime would be stoking Chinese nationalism and blaming the United States for all the domestic misery. -China trade dispute. However, Su said sales to the American market were sliding even before the tariff was imposed, because US factories are not as competitive and do not need to upgrade to his products. It shouldn't be to shrink trade with China, much less cripple its economy.

Ma also said in the interview that he would keep making efforts to push for the healthy development of bilateral trade ties.

US multinationals such as Tesla and ExxonMobil have announced huge investment programs in China recently, casting ballots of confidence in favor of Beijing. The economies of developing countries that export farm goods and other commodities to China could weaken.

China's stable environment for foreign investment, measures to facilitate business, transparent policies along with a vast consumer market continue to make it a coveted target for global businesses, all adding up to its confidence in confronting Washington's unilateral and protectionist moves. Yet even as the conflict escalates, the Trump administration signaled it would still be open to talks as soon as next week.

While the USA keeps accusing China of refusing to buy American products to maintain a "fair" trade balance, Beijing is complaining that Washington's protectionist practices are detrimental to the entire global economy - and has even taken up the issue with the World Trade Organization.

White House: 'Significant Progress' on Puerto Rico Year After Hurricane
Ceremonies are being held in Puerto Rico to honor the thousands of lives lost during Hurricane Maria exactly one-year ago. One year ago today, Hurricane Maria slammed into Puerto Rico with sustained winds of 155 miles per hour .


"If China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports", Trump said in a statement. "So we charged 25 percent on $50 billion worth of merchandise tariffs coming in".

Despite these trade tensions, Kemmsies said the ultimate outcome is quite positive, noting how you don't get something good for nothing and everything has a cost.

Another Chinese state-owned newspaper, the China Daily, also said in an editorial on Wednesday the USA tactics would prove to be ineffective.

Sean O'Scannlain, the chief executive of Fortune Fish & Gourmet in Chicago, said he recently had seven workers package an order for 36,000 pounds of individually wrapped Chinese tilapia for a meal delivery company.

"We went item by item, trying to figure out what would accomplish the punitive goal on China and yet with the least disruption in the U.S.", Ross said to CNBC, noting that increases in inflation have been minimal.

"They (Chinese) rebuilt their country with tremendous amounts of money pouring out of the United States. And that's what China did", he said.

"The world economy has been imperiled for a long time, because the largest economy in the world is running a trade deficit", he said.

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