China ‘underestimated’ Trump, a key adviser says

19 Juin, 2018, 22:26 | Auteur: Auguste Feret

But just because Beijing can't retaliate reciprocally, doesn't mean it can't hit back proportionately: China can still disrupt USA supply chains by freezing activities at select ports, or decline to approve acquisitions sought by American companies. Could it be that they might end up facing tariffs, which in turn could result in more expensive iPhones?

The threat of new tariffs against China pits the world's two largest economies against each other and looks set to disrupt global supply chains for the tech and auto industries, two sectors that rely heavily on outsourced components.

In a statement issued by the White House press office on Monday, Trump said, "I have an excellent relationship with President Xi, and we will continue working together on many issues".

"Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States", Trump said in a statement. "It is very unfortunate that instead of eliminating these unfair trading practices, China said that it intends to impose unjustified tariffs targeting USA workers, farmers, ranchers and businesses".

It made ground on the euro in early European trading, however, to stand 0.3 per cent higher at US$1.1556. The Dow Jones industrial average was down about 320 points, or 1.3 per cent. Shares of large US companies with significant overseas business were hit especially hard. Boeing's stock shed 4.3 percent, Caterpillar 4 percent and GE 2.2 percent.

In April, the Trump administration outlined around 1,300 products worth $50 billion that would be hit with proposed tariffs.

A paper published by Canadian think tank the CD Howe Institute suggests that Mr Trump's threats are having an effect on USA manufacturing by using "uncertainty as a new weapon in trade protection".

"Such a practice of extreme pressure and blackmailing deviates from the consensus reached by both sides on multiple occasions, and is a disappointment for the worldwide community", the ministry said in a statement on Tuesday.

China will protect its interests will take qualitative, quantitative measures if us publishes additional tariffs list.

Android Messages : envoyer des messages depuis l'ordinateur
Par le passé, les utilisateurs qui voulaient profiter de cette option devaient télécharger des applications développées par de tierces parties.

Texas Rep. Beto O'Rourke condemns "inhumane" separation of families at border
Ted Cruz says he is introducing emergency legislation meant to keep migrant families together. "This must stop", said Sen.

Race 3: Salman Khan's thriller burns five records in just three days
According to the trade analyst Taran Adarsh, the film did 14.24 crores business on its working day Monday. Salman Khan starrer Race 3 is doing wonders at the box office and breaking all the records.

President Trump has asked officials to identify $200bn dollars-worth of Chinese goods to be subject to a 10% tariff in what is becoming an increasingly bitter trade war.

Trump said if China increases its tariffs again in response to the latest USA move, "we will meet that action by pursuing additional tariffs on another $200 billion of goods".

China swiftly rebuked the threat and said it would take strong countermeasures to safeguard itself if new tariffs are indeed announced.

Pompeo on Monday described US actions as "economic diplomacy", which, when done right, strengthens national security and worldwide alliances, he added. Oxford Economics estimates that if Trump imposed the $200 billion in duties and China responded in kind, us growth could slow by 0.3 percentage point next year. A punitive duty the Trump administration applied to lumber imports from Canada has raised the price of a new home by $9,000, according to the National Association of Home Builders.

"Most economists have been unwilling to assume real GDP will be materially impacted by the growing array of trade disputes - primarily because $50 billion to $200 billion is a drop in the vast ocean that is the USA economy".

"Investors are anxious the United States may impose further restrictions on Chinese tech and Internet products and cause greater uncertainty for the domestic economy", Zhang Gang, Shanghai-based strategist with Central China Securities Co, told Bloomberg News.

The White House was not pleased.

"However, and unfortunately, China has determined that it will raise tariffs on Dollars 50 billion worth of United States exports". They include electric cars, whiskey and soybeans - a politically and economically vital export of America's heartland, where Trump enjoys support.

Trade-sensitive companies like Boeing Co. and Caterpillar Inc., China-exposed stocks like Acacia Communications Inc. and NXP Semiconductors, and steel producers and metals companies like Alcoa Corp. and United States Steel Corp. are among the hardest hit in NY trading, while the Dow Jones Transportation Average is down 1.9 per cent, the most since May 3.

Conseillé:

  • CM 2018 : Le Sénégal, rayon de soleil de l'Afrique

    CM 2018 : Le Sénégal, rayon de soleil de l'Afrique

    Sur une attaque du Sénégal, Idrissa Gueye tente sa chance et son envoi est dévié par Thiago Cionek, qui trompe Wojciech Szczęsny. Le Sénégal aurait même pu doubler la mise avant la pause mais Salif Sané , seul aux six mètres sur un corner, a écrasé sa tête.
    Music, Premium : les offres payantes de YouTube disponibles en France

    Music, Premium : les offres payantes de YouTube disponibles en France

    Le design de l'application s'inspire beaucoup de celui de YouTube , avec un onglet Accueil, Hotlist (tendance) et Bibliothèque. C'est maintenant chose faite, et Google y ajoute même une deuxième offre d'abonnement: YouTube Music Premium .
    Elon Musk accuse un employé de

    Elon Musk accuse un employé de "sabotage"

    Si la non obtention d'une promotion semble être la principale motivation de l'employé concerné, Tesla indique que l'enquête se poursuivra " en profondeur ".
  • OPEP: l'Algérie s'oppose à une hausse de la production, le pétrole chute

    OPEP: l'Algérie s'oppose à une hausse de la production, le pétrole chute

    L'Iran, le Venezuela et l'Irak restent ainsi opposés à une augmentation de la production, faute d'avoir la capacité de relancer leurs extractions.

    Emilia Clarke dit adieu à "Game of Thrones"

    Game of Thrones s'achève, et les acteurs doivent dire adieu à leur personnage. Ça a été un sacré voyage, " Game of Thrones ". Alors le moment est venu pour Emilia Clarke de raccrocher sa tenue de Khaleesi, et de faire ses adieux à la série.
    Greece and Macedonia sign deal to end decades-long name dispute

    Greece and Macedonia sign deal to end decades-long name dispute

    Greece and Macedonia on Sunday signed a deal to resolve a decades-old dispute concerning Macedonia's name. Under the agreement, the "Republic of North Macedonia" will be the new name of the FYROM.
  • US poised to announce exit from UN human rights council

    US poised to announce exit from UN human rights council

    In January, the Office of the High Commissioner for Human Rights reported work on the list was delayed due to lack of resources. Nonetheless, he said the United Kingdom wasn't "blind to the value of this council".
    OM : la piste Schneiderlin de retour

    OM : la piste Schneiderlin de retour

    Luiz Gustavo, Morgan Sanson et André-Franck Zambo Anguissa sont les trois éléments les plus courtisés. C'est connu que la défense et l'attaque sont les priorités du recrutement estival de l'OM .

    Meghan et Harry à Dublin début juillet pour leur premier voyage officiel

    Le duc et la duchesse de Sussex se rendront en Picardie afin de participer aux commémorations du centenaire de la bataille d'Amiens , rapporte France Bleu.
  • Zara Tindall, Granddaughter of Queen Elizabeth, Welcomes Second Child

    The newborn baby girl was considerably heavier at birth than her big sister, Mia, who weighed 7lb 12oz when she was born in 2014. Zara Tindall and her ex-rugby player husband Mike have had a baby girl, weighing 9lbs 3oz, the Royal Family has announced.
    Meghan Markle's Dad Dishes on Conversation With Prince Harry About Trump

    Meghan Markle's Dad Dishes on Conversation With Prince Harry About Trump

    The retired Hollywood lighting designer's interview with with Piers Morgan of " Good Morning Britain " started off well enough. Curiously, Prince Harry is widely known to be friends with former President Barack Obama and First Lady Michelle Obama.

    Poland take on Senegal at Spartak Stadium

    Niang was a constant threat to Poland's backline as he caused Lukasz Piszczek and Cionek plenty of problems on the left side. Poland are the first nation to make two errors leading to a goal in a single World Cup match so far in 2018.


Populaire

Rapper XXXTentacion, 20, shot and killed in FL in 'apparent robbery'
He was transferred to Broward Health North where he was pronounced dead, the Broward County Sheriff's Office confirmed. A source had told Variety that the rapper, whose real name was Jahseh Onfroy, had been critically wounded.

Le carton rouge de Fall annumé - Rugby - Bleus
Gardner et l'arbitre vidéo, l'Australien George Ayoub, qui n'ont pas eu accès " aux mêmes ralentis et angles de vue " qu'elle. Benjamin Fall pourra donc postuler au dernier Test-match qui va opposer la France à la Nouvelle-Zélande samedi prochain.

Grandma attacked, kills bobcat with bare hands
In this photo, a rescued bobcat waits to be fed at The Wild Animal Sanctuary in Keenesburg, Colorado, Oct. 20, 2011. Phillips says she was afraid of calling for help because her 5-year-old granddaughter was in the house.

Indonesia ferry sinks leaving 1 confirmed dead, dozens missing
Authorities said they believe the ferry that sank on Lake Toba was operating illegally with no manifest or passenger tickets. According to emergency services, a late-night rescue mission saved at least 18 people and one found dead.

Gaming addiction is now a mental health problem
The WHO said that if gaming takes precedence over daily activities and life interests, then it can be classed as gaming disorder . WHO will be notifying governments that they'll be expected to add gaming disorder to their public health systems.

Un Palestinien tué par des soldats israéliens près de la frontière — Gaza
Le texte accuse également Israël du "meurtre d'enfants, ainsi que de journalistes et de personnel médical". L'Etat hébreu et le Hamas se sont livré trois guerres depuis 2008.

L'actrice hospitalisée d'urgence — Heather Locklear
Toujours selon ce proche, la célèbre blonde aurait été à la recherche d'une arme pour mettre fin à ses jours. Elle aurait composé le 911 en déclarant que l'actrice de la série Melrose Place avait tenté de se suicider .

John Travolta's new mob film Gotti is given a beating by critics
The film actually earned $1.7m (£1.3m) in North America in its opening weekend, putting it 11th in the box office chart. Response to the viral marketing strategy has been mixed.

Melania Trump 'hates' to see children separated from families at USA border
Speaking before an event on space Monday, he argued that immigration laws which he blamed for the policy are "horrible and tough". They are then released while their asylum claim is reviewed, but they have a criminal record - a permanent strike against them.

President Trump doubles down on immigration amid backlash
Lobby Congress to change the law so the Trump administration can not separate undocumented children from their families. Around 2,000 children have so far been separated from their families since Sessions announced a tightening of policy.