Trump’s China Tariffs Won’t Touch Ivanka’s Fashion Line. How Convenient!
Jul 12, 2018, 20:01
"This act is typical trade bullying", a spokesperson for China's Ministry of Commerce said in a statement.
The new list-targeted at China's key manufacturing export industries-contains over 6,000 products, including fruits, vegetables, live eels, feathers and beaver heads as well as hi-tech minerals that the US needs.
TRADE FOCUS: China's government said it will take "firm and forceful measures" if the Trump administration goes ahead with its threat of tariff hikes on an additional $200 billion of Chinese goods.
Last Friday, the U.S. imposed 25% tariffs on Chinese imports worth $34bn (£25bn).
"Consumers, businesses and the American jobs dependent on trade, are left in the crosshairs of an escalating global trade war", said Hun Quach, the head of worldwide trade policy for the group.
"There is still a good six or seven weeks before these (tariffs) take effect so it is not like we are going to see these tomorrow, but it is definitely the next step in a trade war", TD Securities global strategist James Rossiter said.
Shares of NXP Semiconductors NXPI fell roughly 4 percent Wednesday after the report.
However, in a statement this morning the Chinese ministry of commerce hit back, saying: "China is shocked by U.S. behaviour".
The $200 billion far exceeds the total value of goods China imports from the United States, which means Beijing may need to think of creative ways to respond to such USA measures. Traders said they were keeping an eye on the key 6.7 per dollar level as pressure mounted on the currency.
The trade confrontation between Washington and Beijing has been escalating for months, despite Trump's repeated statements that he has a good relationship with China's President Xi Jinping.
- Canada and Mexico - Canada and Mexico, members of the North American Free Trade Agreement (NAFTA) with the U.S., have not been spared the Washington offensive on steel and aluminum and have imposed their own counter-tariffs on United States goods.
Some US business groups and senior lawmakers were quick to criticise the move.
US Senate Finance Committee Chairman Orrin Hatch described the move was "reckless".
The US Chamber of Commerce has supported Trump's domestic tax cuts and efforts to reduce regulation of businesses, but does not back Trump's aggressive tariff policies.
China's Commerce Ministry said on Wednesday that it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate.
"The latest list of $200 billion of products to be subject to tariffs against China doubles down on a reckless strategy that will boomerang back to harm US families and workers".
But China also faces difficulties in retaliating directly: it ships far more goods to the United States ($506 billion past year, according to USA figures) than come back in the opposite direction ($130 billion). In the meantime, we appeal to the global community to jointly defend free trade rules and the multilateral trade regime and fight trade bullying.
According to the US, China uses predatory practices in a push to challenge American technological dominance - and allegedly forces American companies to hand over technology in exchange for access to the US market.
It also approved a huge new wholly-owned Shanghai factory for USA electric auto maker Tesla Inc, and a $2.3-billion joint venture organic light-emitting diode (OLED) plant to be built by South Korea's LG Display Co Ltd.
This changed back in 2016 , though, when the developers finally added the feature to their Android and iOS devices worldwide. Note that the Smart Downloads feature is activated only when you're using Wi-Fi, and not on cellular connectivity.
Indeed, Vox points out, CNN's Jim Acosta reported that the Trump team reviewed these comments by Kavanaugh before choosing him. In the case decided Monday that had to do with attorneys' fees, there would be no majority if Kavanaugh were to withdraw.
In the age of social media and millions of eyes being on live events like this, it was surely health'n'safety-ed to the max. Pastrana celebrated his success with a few burnouts and a dive in the fountain-it was a scorching 110 after all in Vegas.
The three Royal Thai Navy SEAL divers and medics who stayed in the cave with the boys and coach since they were located on July 2. A message posted on the English Premier League club's Twitter account said: "Our thoughts and prayers are with those affected".
Sources close to Cohen have slowly begun telling the media that the president's former attorney is ready to flip on his ex-boss. My quote is not evidence of a crime, it's a factual basis for the investigation.
The annual revenue of Metafrax Group exceeded USD 660 million and the annual volume of investments amounted to USD 80 million. CHEMICAL ASSETS In 2014 Seyfeddin Roustamov became the major shareholder of the chemical company Metafrax (Perm region).
The Book of Kells is one of Ireland's greatest cultural treasures, and is on display at Trinity College in the heart of Dublin . Meetings with The President of Ireland, Michael Higgins, and with The Taoiseach, Leo Varadkar, are both planned.
And a young, likeable side with an eminently sensible and humble manager in Southgate have captured the hearts of a nation. The captain was the man of the match again in the penalty shootout win over Russian Federation in Sochi at the weekend.
Starbucks said the new strawless lids will first be implemented in Seattle and Vancouver in the third quarter of this year. By 2020, consumers will no longer be able to get single-use plastic straws at all Starbucks stores globally.
For almost one month Perez knew nothing about her children - "the longest, most torturous time of my life", she said. But they say they have to do cheek swabs of the children and the parents to do DNA tests to establish parentage.
The remaining boys and their coach are expected to have to wait at least another day before rescuers continue extraction attempts. That adds up to about two hours of air per tank - meaning multiple tanks must be hauled by rescuers trying to reach the boys.
Tesla plans China plant with 500000 vehicle capacity
BMW also announced plans to increase production in China, but it said that was because of increased demand for vehicles there. The youngest publicly held US automaker is looking to expand its capacity and to more efficiently reach global markets.