Markets

China to hit back at U.S. with 60 billion dollars tariffs

China to hit back at U.S. with 60 billion dollars tariffs”

The latest move comes two days after US President Donald Trump's threat to impose a higher 25 per cent tariff on US$200 billion worth of Chinese imports.

The yuan has also declined recently, threatening to take some of the bite out of tariffs by making imports cheaper, though the central bank took measures on Friday to stop it from further falling.

The Commerce Ministry issued a statement saying the new duties would be applied if Washington pulled the trigger on President Donald Trump's threat to raise tariffs on $200 billion worth of Chinese goods. China retaliated in kind.

China is trying to seek an "equal" position in future talks with the USA with today's retaliation announcement, said Gai Xinzhe, analyst at the Bank of China's Institute of International Finance in Beijing.

Jose Mourinho expecting one more new arrival this summer
Juventus had previously been seen as a potential destination for Martial but they have spent their budget on Cristiano Ronaldo. The tall English center back has been very shaky with his decision making and has been caught out of position far too often.

"These are the things we have asked them in a number of meetings, I've participated in most of this stuff and they better not underestimate the president, that's all I'll say". "China trade battle. But I expect this will be resolved long before the Alaska project gets its federal building permit in spring 2020". Growth in factory output has begun slowing across advanced economies, while business leaders fear further escalation.

Today's new tariffs are set at levels of 25, 20, 10 and five percent.

White House economic adviser Larry Kudlow gives a press briefing about upcoming G7 in the White House in Washington, U.S., June 6, 2018.

The escalating conflict between the White House and China shows no signs of abating. China immediately retaliated by imposing levies on the same amount of U.S. goods.

Unaware of Tower meeting
Giuliani, who called Cohen "an honest, honorable lawyer" as recently as May, has made a sport out of bashing Cohen in recent days. Giuliani said there are about 11 or 12 other Cohen tapes in which others discuss the president and members of his family.

In a statement released on its website the ministry said the tariffs were necessary because the United States side has "repeatedly escalated the situation despite the interests of both enterprises and consumers".

The U.S. economy is heavily reliant on importing more than $500 billion in goods each year from China.

Relations between the White House and China have soured in recent weeks after both sides had hoped that negotiations might settle differences.

"Alaska's vast reserves of natural gas can satisfy market demand for almost a century, and short term trade tensions do not change this long-term value proposition", Walker said, noting the project's potential to be the "largest job-creating infrastructure project in the country", and generating billions of dollars in revenue.

Pompeo: NKorea Deal May Take Time, Sanctions to Remain
North Korea has called the sanctions "vicious" but rejects suggestions that the pressure led them to pursue diplomatic talks. Mr Trump has said that the North Korean leader pledged at that meeting that he was prepared to denuclearize.

Officials with the Alaska Gasline Development Corp. - the leading powerhouse behind the state's liquefied natural gas project - haven't said much about the immediate consequences of such tariffs, but continued to defend the forward movement of the project despite current tensions.



Like this

Latest


02 August 2018
Trump's Boast About Getting Fallen Heroes From Korea Is Collapsing
Defence Secretary Jim Mattis has said some remains could turn out to be those of missing from other nations. General Vincent Brooks, top commander of U.S. and United Nations forces in South Korea .

28 July 2018
Carr Fire: Park employees save 50 vulnerable animals by taking them home
A wildfire in rural Shasta County in Northern California tripled in size overnight, and more evacuations have been ordered. There are more than 1,700 firefighters working to control the flames, of which only six percent are contained so far.

28 July 2018
Death Toll From IS Attacks in Syria Rises to 302
SNN also shared the names of at least 18 people abducted from one village, Shabki, majority women. The terrorist attack committed suicide bomber blew himself up at the city market in es Sweida.

26 July 2018
Trump Won't 'Tolerate' Iran's Threats, Sarah Sanders Warns
The tweet came on the heels of Rouhani's warning to Trump that hostile policies could lead to the "mother of all wars" with Iran. President Donald Trump threatens his Iranian counterpart in a Twitter post.

25 July 2018
USDA announces 3-prong approach to aid farmers
Bob Corker, R-Tenn., however, called on the Trump administration to "reverse course and end this incoherent" tariff policy. After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on us sorghum.

24 July 2018
Man United line up alternative targets for Harry Maguire
Yerry Mina and Gary Cahill are two players the Leicester manager could move for as Maguire's value has skyrocketed after the World Cup.

23 July 2018
Korean IT entity seeking to operate in Russian Federation
US Secretary of State Mike Pompeo has said the North Korean leader Kim Jong-un must keep his words and denuclearise the country. But Brooks expressed hope those steps are in the works. "To be sure, the physical threats and capabilities are still in place".

23 July 2018
Who will benefit from the tax cut on sanitary napkins?
If separate returns are to be filed then it will complicate matters for businessmen in both B2B and B2C businesses, he said. Besides revenue collection, the GST council will now focus on job creation as well, the Finance Minister said.

21 July 2018
Trump again praises Putin summit as ‘success despite uproar
The president's tumultuous trip across Europe, historians say, smashed the conventions of American leaders on the world stage. Both Trump and the senator have little interest in seeing the US stick to its traditional role as the world's top cop.

19 July 2018
How an Alleged Russian Spy Gained Access to Elite Conservative Circles
Intelligence officers often use an "official cover" as employees of their home country's foreign ministry. Zakharova added that the Russian authorities were looking to secure access to her.



Recommended