China Plans Tariffs on $60 Billion of Imports to Counter Trump

Media playback is unsupported on your device                  Media caption The'danger of a US-China trade war

Media playback is unsupported on your device Media caption The'danger of a US-China trade war

"China is not delivering, OK?"

"We are coming together with the European Union to make a deal with them so we will have a united front against China", National Economic Council Director Larry Kudlow told Fox Business News. Since then, the stock market has been cooling down as the country's economic growth has slowed and the interest in Chinese assets among foreign investors has weakened.

China today announced a $60 billion list of us goods including coffee, honey and industrial chemicals for retaliation if Washington goes ahead with its latest tariff threat.

He also said China was "for the first time doing poorly against us".

The world's two biggest economies further escalated trade tensions last week, with China announcing possible additional tariffs late Friday in response to USA moves. The tariffs would range from 5 percent to 25 percent.

Speaking on the sidelines of a security forum in Singapore, Foreign Minister Wang Yi said China's threat of retaliatory tariffs was "fully justified and necessary". Washington is expected to soon implement tariffs on an additional $16 billion of Chinese goods, which China has already announced it will match immediately.

August 1: Trump ordered his trade representative to consider raising the planned tariff of $200 billion worth of Chinese products from 10 percent to 25 percent.

The Chinese are unable to match US tariffs on a dollar-per-dollar basis but Beijing can make it hard for USA companies doing business in China.

The United States and China have the world's biggest trading relationship but official ties are increasingly strained over complaints Beijing's technology development tactics hurt American companies.

The highest penalties on China's new list would be imposed on honey, vegetables, mushrooms and industrial chemicals, targeting farming and mining areas that supported Trump in the 2016 election.

"Tariffs are working far better than anyone ever anticipated".

US and Chinese officials have held "hardly any conversations" in the past month, but there's "some hint" the Chinese may be warming to the idea of negotiations, Kudlow said.

USA pork and beef have been targeted by China in the first round of the trade war.

China has already filed a complaint with the World Trade Organization about the USA proposal for tariffs on $200 billion worth of goods. It's announced 12 billion dollars of assistance to USA farmers to ease the burden of retaliatory tariffs imposed by other countries.

"Every country on Earth wants to take wealth out of the United States, always to our detriment".

"It's more proportionate", Tu said.

China promptly promised it would take countermeasures of its own.

June 18: China said it would retaliate with equivalent tariffs on American products.

Trump portrays the tariffs as a tax on foreigners, but the reality is that tariffs are taxes on US companies and consumers.

"The US side has repeatedly escalated the situation against the interests of both enterprises and consumers", the Commerce Ministry said in its statement. China has denied violating global trade norms.

"As the 'tit-for-tat" trade war continues, global markets appear to show resilience against any major moves by either the U.S. or China and the tariffs they are placing. "Any talks in the future, should they happen, should be conducted on an equal and faithful basis".

Beijing threatened Friday to bring in the levies on products ranging from beef to condoms, after US President Donald Trump's administration upped the ante in its plans for additional tariffs on Chinese goods worth US$200 billion.

"The latest four-level tariff rates have much more flexibility", said Gao Lingyun, a researcher of Institute of World Economics and Policies at the Chinese Academy of Social Sciences.

Notícias recomendadas

  • CEO Jack Dorsey Explains Why Twitter Didn't Ban Alex Jones

    CEO Jack Dorsey Explains Why Twitter Didn't Ban Alex Jones

    Dorsey's announcement after Apple, Facebook and YouTube earlier this week removed some content from Jones and InfoWars . Further in Dorsey's thread, he said it was up to journalists to "document, validate, and refute" claims like Jones'.
    Rick Gates Forced Into Admitting Extramarital Affair by Paul Manafort’s Lawyer

    Rick Gates Forced Into Admitting Extramarital Affair by Paul Manafort’s Lawyer

    Earlier in the day, the Trump campaign was discussed at length for the first time. "The secret life of Rick Gates ", he said. He also acknowledged he may have submitted personal expenses to President Trump's inaugural committee for reimbursement.
    Balderson-O’Connor OH-12 Race Headlines Contests in Five States

    Balderson-O’Connor OH-12 Race Headlines Contests in Five States

    In Kansas' 3rd District , Bernie Sanders-backed labor lawyer Brent Welder is running in a six-way primary to take on Yoder. Kasich, a leading voice in the Republicans' shrinking anti-Trump wing, previously represented the district in Congress.
  • Universal's Cowboy Ninja Viking Has Delayed Production Indefinitely

    Universal's Cowboy Ninja Viking Has Delayed Production Indefinitely

    Universal has pulled Cowboy Ninja Viking back from its June 28, 2019 release date, amid hot rumors of heavy turbulence on the set. Cowboy Ninja Viking is set to be another big franchise for star Chris Pratt .
    Teams spar over forward battles ahead of Super Rugby final

    Teams spar over forward battles ahead of Super Rugby final

    Sam Whitelock and Jack Goodhue got themselves on the scoresheet for the defending champions in that game earlier this season. They have a really good set piece and fast outside backs, so it's going to be a good battle", said Mooar.
    SAFD sending crew to help battle deadly Carr Fire in California

    SAFD sending crew to help battle deadly Carr Fire in California

    And it prompted the indefinite closure of some of the most popular parts of Yosemite National Park, officials announced on Sunday. That fire, which is now 43% contained, has destroyed more than 1,000 homes and burned over 160,000 acres.
  • Dota 2 Pros Play Bots, Get Wrecked

    Dota 2 Pros Play Bots, Get Wrecked

    These are all people who now or previously play Dota 2 professionally - they're in the 99.95th percentile of human players. The characters Open AI played were selected by Twitch users, giving Team Human a slight advantage.
    Ruby Rose set to star as lesbian superhero Batwoman for The CW

    Ruby Rose set to star as lesbian superhero Batwoman for The CW

    They've just announced that Ruby Rose , of Orange is the New Black fame, is donning the cape and cowl of the titular superhero. In addition to the crossover, Rose will presumably star in a standalone series now in the works at the CW .

    Samuel L. Jackson, Cobie Smulders join Spider-Man sequel

    This will be the first time Nick Fury and Maria Hill have encountered Spider-Man in the Marvel Cinematic Universe. Cobie Smulders , who plays Fury's pal Maria Hill, will join Jackson in the sequel, Vulture also reports.
  • Usain Bolt to train with Australian soccer team

    Usain Bolt to train with Australian soccer team

    Bolt said it had been his "dream" to play football and acknowledged it would require a lot of hard work and training. The Mariners said the agreement does not guarantee Bolt a professional contract but does give him the opportunity.
    Everton on brink of signing Brazil winger

    Everton on brink of signing Brazil winger

    He has been capped 14 times by Brazil and was offered to Chelsea , Inter Milan, AC Milan and West Ham United in recent weeks. Everton are on the brink of signing Bernard on a free transfer.
    ‘Holy crap!’ Video shows breaching great white shark startle researcher

    ‘Holy crap!’ Video shows breaching great white shark startle researcher

    Okay, so we're not saying that sharks are bad or anything, but we are saying that you should never be complacent around them. Biologist Greg Skomal of the Massachusetts Division of Marine Fisheries had a shark snap at his feet.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.