Markets

US, China enter tense stand-off as trade war looms

US, China enter tense stand-off as trade war looms”

The moves would affect about $3 billion in trade if an agreement can not be reached.

The accusations took an ironic turn in light of the new Trump trade war directed, in part, at Beijing, as the U.S. representative to the WTO declared that China was implementing an unnecessarily strict trade policy, according to Reuters.

"If there's a trade war between the U.S. and China, don't blame Donald Trump: China started it long before he became president", the daily wrote".

China is unlikely to respond until Washington acts but might launch an investigation of imports of US corn and soybeans "as a warning shot", said Parker.

However, Mr. Liu said the investigation report "violates worldwide trade rules and is beneficial to neither Chinese interests, USA interests nor global interests", Xinhua cited him as saying.

"If the United States purchases whatever it wants, on the one hand, but refuses to sell China products we want, and continues to blames us for the trade imbalance, is it fair?" said Chinese Foreign Affairs Spokeswoman Hua Chunying.

Raymond Yeung is an economist for the Australia and New Zealand Banking Group.

Futures lower on unsettled global markets as trade war fears escalate
Wei Jianguo, a former vice commerce minister, said China already has a second and third list of possible tariffs ready. Tencent fell more than 4 percent after Naspers Ltd. revealed a plan to cut its stake in the Chinese internet giant.

China has always been the world's largest importer of waste and recyclable commodities.

The trade dispute has influenced stock prices in many countries. The index had lost more than two percent a day earlier.

On the Taiwan Stock Exchange, the electronics sector fell 2.22 percent, the optoelectronics sector dropped 3.31 percent and semiconductors were down 2.40 percent.

Tokyo's benchmark tumbled by an unusually large 5.1 percent while the Shanghai Composite Index closed down 3.4 percent.

Trump said those tariffs were in response to China's "economic aggression". Trump is blowing up the usual process of bringing trade disputes to the World Trade Organization that has been in place since 1995.

Trump will decide whether to continue to exempt these countries from the tariffs by the extended deadline. They said the figure was based on a calculation of the impact on the profits of USA companies that had been forced to hand over intellectual property as the price of doing business in China.

The administration said it will decide by May 1 if it will extend the exemption "based on the status of discussions" with the countries. To avoid paying the tariffs on the steel or aluminum they import, businesses will need to show that American mills don't make the piece they use, or at least don't make enough.

Trump tried to pay for sex
McDougal said she was remorseful for being involved with Trump during a 10-month span which started in June 2006. "I'm sorry. In February, a spokesperson for the President, said, "The President says he never had a relationship with McDougal ".

However, countries trading with China are equally concerned about business requirements that force the transfer of technology to Chinese partners. And Finance Minister Taro Aso expressed empathy with Washington over protecting intellectual property.

These companies do not disclose the brands they make products for.

Alex Capri studies worldwide trade at the National University of Singapore. "China does not want a trade war, but China is not afraid of a trade war".

One is that US consumers will be hurt.

"China retains the right to adjust our measures according to actual conditions and will go through the necessary procedures according to the rules of the World Trade Organization (WTO)", it added. However, Chinese officials already insist companies aren't required to hand over technology, so it was unclear how policy might change. "China is strongly disappointed and firmly opposes such an action".

Trump also directed Treasury Secretary Steven Mnuchin to propose new investment restrictions on Chinese companies within 60 days to safeguard technologies the United States views as strategic, said senior White House economic adviser Everett Eissenstat.

The Treasury Department will then take 60 days after the signing to submit its recommendations for a targeted list.

Judge rules defamation case against Donald Trump may proceed
The ruling also means that Trump will likely have to sit for a deposition in the case as Schecter said the suit has merit. Trump's lawyer in the case, Marc Kasowitz, did not respond to a request for comment.

"During the same period of time, the American economy sputtered".



Like this

Latest


24 March 2018
Local March For Our Lives rallies planned Saturday
Hillsborough County students are on their way to Washington D.C.to be a part of the March for Our Lives moment. Avalon Hoek Spaans, a science graduate student at Columbia and campus organizer for the march, is from Florida.

24 March 2018
This Omnibus $1.3-T Spending Bill, Much More of the Same
Political strategists say resolving DACA is crucial for members of both parties, especially as midterm elections draw near. Now the bill heads to President Donald Trump's desk for his signature.

24 March 2018
Donald Trump removes NSA McMaster, replaces him with John Bolton
In his first year in office, Trump surrounded himself with foreign policy aides whose views spanned a wide spectrum. Experts further say that Bolton and Pompeo may limit the scope of Asia policy within the White House in a big way.

22 March 2018
Minneapolis police officer Mohamed Noor charged over Justine Damond's death
The charges lay out the events that led to Damond's death: Noor and his partner were responding to a 911 call made by Damond. Hennepin County Attorney Mike Freeman charged Noor with third-degree murder and second-degree manslaughter Tuesday.

22 March 2018
Powerball tickets worth $50K sold in NJ for weekend drawing
Patrick's Day brought some great luck to this fortunate Powerball player and we are anxious to meet our big victor or winners". Officials said they can not confirm the identity of the victor until the prize is claimed and the ticket is validated.

20 March 2018
The Premier League list that Mohamed Salah surprisingly tops this season
The emotion Robertson shares with every goal his team scores and the emotions he displays off the pitch as well are worthy of a proper hero.

20 March 2018
Alibaba puts United States dollars 2 bln more into Lazada, gives it new CEO
Alibaba has previously invested $2 billion in the Singapore-based firm, bringing its total investment to $4 billion. Global e-commerce giant Amazon entered the region past year , but is so far active only in Singapore.

20 March 2018
Federal Court Rules against GOP Challenge to New District Map
Supreme Court's latest action refusing to block the new map came one day before the filing deadline for the May 15 primary. The Supreme Court case seemed to be state Republicans' last realistic chance to preserve the current map of 18 U.S.

20 March 2018
United Kingdom meat industry reacts to Brexit transition agreement
He said the two sides had agreed to set up a joint committee to resolve any disputes during that transition. In any case, he insisted, a so-called backstop solution "must form part of the legal text".

19 March 2018
Michigan State hangs on to top upset-minded Bucknell
The Orange made 24 of 31 free-throw attempts in the game, while Michigan State went to the line just 16 times , making 11. The Orange's average margin of victory in their last five games has been 0.4, down from 3.1 for the season.



Recommended