Markets

Trump accuses China of election meddling in trade war

Trump accuses China of election meddling in trade war”

President Donald Trump on Tuesday threatened further retaliation against China if Beijing targets U.S. agricultural or industrial workers amid a trade dispute, and accused China of trying to sway the United States election by targeting farmers.

Smart watches and devices that use bluetooth wireless communications, the technology behind Apple's AirPods and other products that work with smartphones, will be excluded from the new tariff list.

The firms are anxious the tariffs will increase their costs since many of their products are manufactured in China.

Apple Inc. said last month the proposed duties on $200 billion cover a wide range of products used in its usa operations.U.S. stock futures edged lower, Asian equities slumped and European shares fluctuated amid investor concerns a heightened trade war will crimp corporate profits and undermine economic growth.

The statement did not mention Beijing's earlier threat to add tariffs on $60 billion in USA imports if Washington imposed this new wave of levies.

The US tariffs start at a rate of 10%, before rising to 25% at the end of the year.

In an earlier round of tariffs on $50 billion of goods, the Trump administration removed proposals on flat-panel television sets for the final list in June.

Florence hovers over coastal states, raising fears of epic flooding
Florence's top sustained winds have weakened to 50mph (80km/h) but it is projected to bring further catastrophic flash flooding. It said it was located about 60 miles west of Myrtle Beach, South Carolina, and forecasters predicted a slow westward march.

The lack of unity within the USA administration on trade isn't new - Chinese and American officials have held a series of talks over the dispute, and reached at least one agreement which was subsequently abandoned by the president.

"Unfortunately, China has been unwilling to change its policies involving the unfair acquisition of USA technology and intellectual property". The government has already been ramping up spending on infrastructure.

The US Chamber of Commerce, retailers, agricultural groups and some members of the Republican Party have spoken against his tariff campaign.

No items were added, the officials said.

Trump's latest escalation of tariffs on China comes after several rounds of talks yielded no progress. "But, so far, China has been unwilling to change its practices", including theft and force transfer of technology.

Meanwhile, China foreign ministry spokesman Geng Shuang has accused the U.S. of bringing "new uncertainty" to trade talks between the world's two largest economies.

At a forum in Tianjin, China's Premier Li Keqiang said Beijing will not actively weaken the yuan to boost exports.

Storm Florence: State Of Emergency Declared As US Braces For ‘Monster Hurricane’
This storm is nearly bigger than North Carolina and Virginia put together so we will still feel the impacts. Florence is being trailed in the Atlantic by two other storms - Hurricane Helene and Tropical Storm Isaac.

"We welcome this development and we appreciate the administration's time and effort to listen to industry and consumer concerns", a Fitbit spokeswoman told Reuters.

The most painful perhaps is the tariff on USA soybeans, which chokes off a key export market for American farmers, who shipped $14 billion of the beans to China previous year.

There was no word on whether China would back out of trade talks it said it was invited to by the US, but a Chinese Commerce Ministry statement said the USA increase "brings new uncertainty to the consultations". Meanwhile, a UK-US trade deal could "rewrite the rules" of global commerce, according to a new report. It has weakened by about 6.0 percent since mid-June, offsetting the 10 percent tariff rate by a considerable margin.

These items were on the proposed list. of added duties on Chinese imports announced by the United States Trade Representative back in July. Donald Trump has previously threatened to leave the WTO if it doesn't "shape up" and treat the U.S. better - and his administration seems to be in little mood to de-escalate the situation.

President Donald Trump made the announcement Monday in a move that is sure to ratchet up hostilities between Washington and Beijing.

The United States' current unilateral trade actions can not be accepted by China, and the United States has not been honest, ministry spokesman Geng Shuang told a daily news briefing. It could have the opposite effect: products could become more expensive, companies might stop making specific goods, and some people could lose their jobs as their employers scramble to cut the effects the costs imposed by these tariffs could have on their business.

Trump aide Papadopoulos gets 14 days in prison
The FBI canceled the meeting when it discovered that Papadopoulos had sat down for a media interview about the case. The lawyers argued Papadopoulos lied as he was influenced by the President's aggressive sentiments on the probe.



Like this

Latest


15 September 2018
Shocking SA Crime stats explained on Breakfast
Even Police Minister Bheki Cele admitted that the country's murder rate was "scary" and compared it to a war-zone. We have called for the crime stats to be released not only by the police but by the entire security cluster.

15 September 2018
IPhone XR revealed: notched LCD, Face ID, and advanced single camera
Both models will go up for pre-orders September 14th, and ship from September 21st for the first wave of launch countries. You'll have to wait a bit longer for the iPhone XR , which launches on 26 October, with preorders from 19 October.

10 September 2018
Djokovic wins third US Open, equals Sampras on 14 Grand Slams
Ahead of the final, Del Potro had fired 68 aces during the tournament, winning 82 percent of his first serve points. Backed by his singing boys, Del Potro roared back in the set by breaking Djokovic to go back on serve.

10 September 2018
UEFA Nations League: England 1-1 Spain
Southgate said: "He's got a tremendous mentality, he's got great talent and we think he's got everything to go on and be a top player".

08 September 2018
Tesla shares reel as executives quit and CEO smokes pot on webcast
The billionaire CEO said in a blog post that the funding wasn't secured and that most shareholders wanted Tesla to remain public. The Model 3 starts at $35,000 (€30k), although the cheapest one that can be purchased at present costs $49,000 (€42.5k).

08 September 2018
Serena Survives, Advances To US Open Semifinals
Just over a year removed from the birth of her daughter, Williams is looking for a record-tying 24th Grand Slam championship. Williams closed out the match in style, winning a service game at love with two aces, an overhead smash and another ace.

05 September 2018
Amazon is now worth $1,000,000,000,000
For graphic on Analyst Price Targets, click https://reut.rs/2NHwHQq The stock is up 74.5 percent year to date. The development comes just a little over a month after technology giant Apple reached the $1 trillion mark.

05 September 2018
Second Bridge Collapse In 3 Years In Kolkata, One Dead: 10 Points
The bridge collapse hit traffic movement to and from vast areas in south-west Kolkata and adjacent South 24 Parganas district. Prime Minister Narendra Modi said the incident is "deeply unfortunate" and wished the injured a speedy recovery.

04 September 2018
Trump to withhold 100,000 pages of Kavanaugh’s White House records
However, Senator Lindsey Graham claimed that Kavanaugh may change the status quo of Roe v. Schumer, New York Democrat, even accused former President George W.

04 September 2018
Tropical Storm Gordon brings hurricane warning to Gulf Coast
Geo Rodriguez made a decision to go for a walk on Hollywood Beach, north of Miami, on Monday morning and got caught in the storm. After moving northwest, the next landfall for Gordon will likely be somewhere in southeastern Louisiana or southern Mississippi.



Recommended