Tuesday, 25 September, 2018

Trump says United States lost trade war with China years ago

Торговая война продолжается Китай ответил на новые пошлины США Trade war with China: What you need to know
Cristina Norman | 05 April, 2018, 01:46

China issued a $50 billion list of more than 100 USA goods including soybeans and aircraft targeted for a possible 25 per cent tariff hike, releasing it after trading ended in most Asian markets.

President Donald Trump says the USA lost a trade war with China "years ago".

Hours earlier, the US government unveiled a detailed breakdown of some 1,300 Chinese industrial, transport and medical goods that could be subject to 25 per cent duties, ranging from light-emitting diodes to chemicals and machine parts.

The prospect of Beijing targeting soybeans was the topic of so much speculation because there's so much at stake for both sides in a trade that was worth about US$14 billion past year.

"We have seen the administration reach out now and say, 'We will take this up on a case-by-case basis as retaliation starts against agriculture".

Beijing raised tariffs on $50 billion in USA goods shipped to China - cars, chemicals and soybeans - a retaliation for a similar move the White House made Tuesday.

The emerging trade war between the US and China is spooking stock markets.

That was the day after he imposed new tariffs on steel and aluminum that would affect China.

Markets appeared unconvinced on Wednesday, with stocks plunging as investors began fearing a trade war that could derail the current economic upturn.

With China outlining where it plans to impose tariffs on U.S. products in response, the stakes are rising. The reality, I'm afraid, is that trade wars are always costly, and the pain is magnified when trade wars are waged against authoritarian regimes, such as the one in China.

Let's look at Trump's tweet in its entirety, which Trump posted at 7:22 a.m. ET, a little more than two hours before the stock market was set to open down sharply after China's latest response to the tariffs Trump chose to slap on the country.

Brown Brothers Harriman's chief currency strategist Marc Chandler said via Twitter that the key now is "whether the US retaliates against China's retaliation".

"Tariffs penalize USA consumers by increasing prices on technology products and will not change China's behavior", said Dean Garfield, chief executive of the Information Technology Industry Council, which represents companies such as Apple, Dell, IBM and Google. David Petraeus considered the situation and said to a reporter, "Tell me how this ends". All 30 Dow components were lower. The duties are in retaliation for US plans to raise duties on a similar amount of Chinese goods.

USA benchmark 10-year notes fell 2/32 in price to yield 2.7917 percent.

Trump, citing the USA trade deficit with China, appeared to argue that going head to head wouldn't be so bad.

Oil prices slipped with Brent crude futures off 75 cents to $67.38 a barrel, while USA crude fell 73 cents to $62.78 a barrel.

If a nation unilaterally raises tariffs against imports from another country (or group of countries), they can refer the matter to the World Trade Organisation for binding arbitration and/or they can retaliate against the first country by raising their own tariffs on the goods they import from them.

China is by far the world's biggest buyer of soybeans, which are mostly crushed and fed to pigs.

"What's next is we're going to see a tit-for-tat retaliation", says Joseph Brusuelas, chief U.S. economist at RSM, a global accounting and consulting firm.

Recommended

  • Spider-Man Is Releasing In September Exclusively On PS4

    Spider-Man Is Releasing In September Exclusively On PS4

    More details on what the DLC is exactly will be announced later. That's exactly what they want to achieve with this game. Let us know in the comments section below.
    Spotify preparing to launch listing on the United States  market share

    Spotify preparing to launch listing on the United States market share

    Spotify CEO Daniel Ek declined an invitation to ring the opening bell at NYSE. "Our focus isn't on the initial splash", he added. So while tomorrow puts us on a bigger stage, it doesn't change who we are, what we are about, or how we operate.
    UMC Plants Pinwheel for National Child Abuse Prevention Month

    UMC Plants Pinwheel for National Child Abuse Prevention Month

    All hotline calls are routed to the county where a child resides. "I wish we didn't have to exist", Johnson said. Let us make sure that nothing is happening to a child".
  • US Sues California Over Law Interfering With Federal Land Sale

    US Sues California Over Law Interfering With Federal Land Sale

    This is the latest in a series of battles between President Trump and California. The move escalates the war between California and the Trump administration.
    Petaluma police shoot suspect after he points gun at himself, then officers

    Petaluma police shoot suspect after he points gun at himself, then officers

    A division chief of a prominent political party who holds the title of Datuk was arrested in a police raid today for drug abuse. He then allegedly patted him down and told he was "lucky" he wasn't being arrested and then left, Roechner said.
    Blac Chyna Responds After Footage Emerges Of Theme Park Altercation

    Blac Chyna Responds After Footage Emerges Of Theme Park Altercation

    Those particular tweets have since been deleted, but Lex's timeline is still full of tweets and retweets about the ordeal . Chyna and Dream were also pictured riding a carousel. "Being famous is hard enough dealing with scrutiny", she wrote .
  • Could Medical Pot Help Curb the Opioid Abuse Crisis?

    Could Medical Pot Help Curb the Opioid Abuse Crisis?

    Each day, 90 Americans die from opioid overdoses, Hill notes in JAMA Internal Medicine , where both studies were published. If the latest research is any indication, those actions might simply make the opioid epidemic even worse.
    Potential jurors in Bill Cosby retrial say they have already formed opinions

    Potential jurors in Bill Cosby retrial say they have already formed opinions

    A big question during the jury-selection process this week has been the impact the #MeToo movement is having on potential jurors. Montgomery County President Judge Thomas DelRicci said Tuesday he would schedule a hearing on the news media's legal challenge.
    Governor Mary Fallin Statement on Oklahoma Teacher Rally

    Governor Mary Fallin Statement on Oklahoma Teacher Rally

    I was very proud to join with leaders of both parties to sign the largest teacher pay increase in Oklahoma's history. In Oklahoma City, teachers rallied for the cause and forced the closure of about 200 schools in the state.
  • Nokia 9 leaked spec sheet shows 41MP triple camera setup

    Nokia 9 leaked spec sheet shows 41MP triple camera setup

    On the front, the Nokia 7 Plus has a 16-megapixel fixed focus camera with an f/2.0 aperture, 1-micron pixels and Zeiss optics. Answer: Nokia 8 Sirocco comes with Fingerprint (rear-mounted), ALS/PS, G-sensor, E-compass, Gyro, Hall sensor, and Barometer.

    Villanova beats MI for NCAA national championship

    His attitude rubbed off on his players and staff as they tried to process coming one win short of a national championship. The Wildcats' recipe for success: Don't be shy about shooting the basketball, especially from deep.

    The caravan of migrants that's alarmed President Trump has now stalled

    The organization that President Donald Trump called out on Twitter has given an equally scathing response. That's because Mexico has very strong immigration laws, as we should have.

Teenage girl shot dead in Tottenham Teenage girl shot dead in Tottenham PA Wire/PA Images Forensic officers at the scene where a 16-year-old boy was shot on Monday evening in Walthamstow, east London. Does more need to be done to combat knife crime in both cities? In the whole of past year , there were 130 murders in London.

Judge rips Manafort's lawsuit to rein in Mueller Judge rips Manafort's lawsuit to rein in Mueller Paul Manafort's attorney in his civil lawsuit said Wednesday that they want prosecutors to stop indicting him. Jackson, who didn't rule Wednesday, said the Washington indictment was the "elephant in the room".

Farm Bureau Statement on Chinese Tariff Announcement Farm Bureau Statement on Chinese Tariff Announcement He said: "We have never had an economy like we have right now, and we are going to make it bigger, and better and stronger'". Targeted sectors include industries such as aerospace, information and communication technology, robotics, and machinery.

German prosecutors request Puigdemont's extradition to Spain German prosecutors request Puigdemont's extradition to Spain If the court agrees to the request, prosecutors would still need to issue an order signing off on Mr Puigdemont's extradition. The Spanish government is now trying 25 Catalan nationalist leaders who were involved in the October 2017 secessionist vote.

Tony Finau 'dislocates' ankle after ace Tony Finau 'dislocates' ankle after ace A hole in one is certainly cause for celebration, but Tony Finau may have done himself some damage on the eve of the Masters . Finau, ranked No. 34 in the world, ended up withdrawing from the event but stuck around for the final two holes.

Hush: Lockheed, NASA Team Up on Silent Supersonic Jet Hush: Lockheed, NASA Team Up on Silent Supersonic Jet Next you'll see a video that shows commercial supersonic flight in the past and in-effect here with NASA in the present. We're honored to continue our partnership with NASA to enable a new generation of supersonic travel.

How do Amazon, Apple, Facebook and Google's gender pay gaps compare? How do Amazon, Apple, Facebook and Google's gender pay gaps compare? A near-equal proportion of women (75.3%) and men (74.3%) received a bonus . "It's a programme we started more than 10 years ago". It said the quarter of its staff who are male are paid on average one fifth more than the three quarters of women employees.

Mohamed Salah nearly unstoppable, says Liverpool defender Virgil van Dijk Mohamed Salah nearly  unstoppable, says Liverpool defender Virgil van Dijk However, both were discarded by Chelsea earlier in their careers after failing to hold down a regular spot in the first team. The Belgian midfielder has scored seven goals and tallied a league-high 15 assists for Pep Guardiola's leaders this season.

South Africa v Australia South Africa v Australia He has, after all, seen more balls than anyone else in this series , so if anyone should have more runs, it is him. Earlier, Faf du Plessis hit 120 and Dean Elgar made 81 before the hosts declared their second innings at 344/6.

UFC: McGregor takes a swipe at Ferguson UFC: McGregor takes a swipe at Ferguson Ferguson's freak injury marks the fourth time in the last two years that a Ferguson-Nurmagomedov bout has been called off. Per White, Ferguson is expected to lose his interim title, which he won by defeating Kevin Lee at UFC 216 in October.

Saudi oil tanker hit in Houthi attack off Yemen Saudi oil tanker hit in Houthi attack off Yemen Last week, Saudi air defences intercepted a flurry of missiles, and falling debris caused the first death in the capital Riyadh . The UN s Yemen envoy, Martin Griffiths, has recently visited Riyadh and Sanaa in hopes of revitalising sputtering peace talks.

ESPN's New Streaming Service Will Debut April 12 ESPN's New Streaming Service Will Debut April 12 ESPN is pitching the new online video streaming service as a more feature-packed addition to its revamped and free ESPN app . Also not included in the statement were the major college sports conferences for which ESPN has broadcast rights.

United Kingdom defence lab: No ID yet for source of nerve agent United Kingdom  defence lab: No ID yet for source of nerve agent A former Russian general has warned world is on the brink of "the last war in the history of mankind" over the poisoning of a spy. Countries around the world joined Britain in expelling diplomats in a sign of unity against the actions of Russian Federation .

Trump EPA rescinding Obama-era auto fuel efficiency, emissions standards Trump EPA rescinding Obama-era auto fuel efficiency, emissions standards Jeff Merkley, D-Oregon, denounced the move as a "shameless assault" on public health, the climate and US consumers. However, the Consumer Federation of America (CFA) said the EPA announcement was a bad deal for American consumers.

Gianluca Vialli claims Antonio Conte 'can't wait' to leave Chelsea Gianluca Vialli claims Antonio Conte 'can't wait' to leave Chelsea I just had to get in the starting eleven and help the team. "Salah's done fantastic, he's a great great player". I repeat: my task is to work and I know I work 24 hours a day for Chelsea , me and my staff.