Trade War: Trump says tariffs are working

08 Août, 2018, 11:29 | Auteur: Auguste Feret
  • Enlarge this image

President Trump speaks during a campaign rally July 31 at the Florida State Fairgrounds Expo Hall in Tampa.

President Trump's assertiveness on trade has also taken in measures against markets such as Canada, Mexico and the European Union, which have all responded with counter-measures, with food caught in the crossfire.

The U.S. "will be able to start paying down large amounts" of the national debt because of tariffs imposed on imported goods, said President Trump on Sunday.

The overseas edition of the Communist Party's People's Daily newspaper said Trump believes he is starring in a "street fighter-style deceitful drama of extortion and intimidation", adding it is "wishful thinking" to think China would play along, according to Reuters.

China's stocks were lower on Monday as Beijing's latest tariff threats escalated the tit-for-tat Sino-U.S. trade war, while the yuan weakened after briefly edging up despite the central bank's latest efforts to shore up the tumbling currency.

The escalation has business leaders on both sides anxious about where this will end up. Neither side is showing any sign of backing down.

"We said before that this round of tariffs amounted to doubling down on the recklessness of imposing trade policy that will hurt United States families and workers more than they will hurt China", a major trade group, the National Retail Federation, said in a statement last week.

For example, he claimed that China was financing advertisements to convince Americans to stop Trump's trade agenda.

China is trying to seek an "equal" position in future talks with the U.S. with today's retaliation announcement, said Gai Xinzhe, analyst at the Bank of China's Institute of International Finance in Beijing.

USA companies, meanwhile, are setting up measures in an attempt to offset the effects of the trade spat, including price hikes.

The US move is being fuelled by deep frustration within the Trump administration over its unsuccessful attempts to press China to change its trade practices, including improperly obtaining American intellectual property.

Who is England's new Test player Ollie Pope?
Malan made just 28 runs in the first Test but in more painful strikes for the team, he dropped three catches. Tendulkar warned that the downfall of a batsman starts when he is satisfied by what he has achieved.

Snapchat Parent Snap Posts Its First Loss in Daily Active Users
Snap had never before logged a quarterly drop in daily users, according to data it has released going back to 2014. Still, analysts expressed concern that advertisers and users prefer Facebook Inc's Instagram app over Snapchat .

Polls close in OH as elections in 5 states wrap up
William Lacy Clay faces a challenge from the left from Cori Bush, a nurse and activist who has campaigned with Ocasio-Cortez. Abdul El-Sayed, a 33-year-old doctor who previously worked as Detroit's health commissioner, has attracted a handful of Sen.

Trump campaigned on a promise to bring down America's massive trade deficits by renegotiating trade agreements and getting tough on countries like China that sell the US far more than they buy from it. Beijing retaliated by imposing similar charges on the same amount of US products.

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

Throughout all of this, the United States continues to criticise China's trade practices as "unfair" because of the domestic win-win relationship between central government and private producers.

This is false, and not how tariffs work.

Beijing warned on Friday that it was prepared to impose new tariffs on $60 billion worth of us goods if Washington ups the ante in the escalating U.S.

Meanwhile, the Chinese economy is likely to feel a pinch, but that doesn't mean the country will back down, William Zarit, the chair of the U.S. Chamber of Commerce in China, tells NPR. This makes the products more expensive and less attractive for USA consumers. Last year, China imported about $130 billion in goods from the United States.

But Trump raised the stakes this week with his threat to lift the tariff rate.

Similar to crude oil and LNG, coal was another area where Trump could have made a difference to US exports to China.

Chinese authorities - bracing for economic fallout - have taken a range of measures in recent weeks to bolster the economy.

The White House issued a statement Friday, condemning the proposal.

Trump has at times said he likes this idea, and some White House officials had hoped that this might cool conservative angst in Congress.


  • Osama bin Laden's family speak for the first time

    Osama bin Laden's family speak for the first time

    At one point of the conversation, Ghanem left and the two brothers took over to contextualize their mother's thinking. Instead, she blames those around him. "He was a good man, and he was good to Osama", she described her husband.

    Westwood withdraws from PGA Championship

    So things are going to be different from day-to-day, and it's just about managing it. "I've kind of felt that way a lot this year - I don't mind it".

    16 people injured by softball-sized hail at Colorado zoo

    The Colorado Springs Gazette reports the short but intense storm passed over Cheyenne Mountain Zoo on Monday afternoon. Fire officials were asking that everyone at the zoo remain in place until they can be taken to a reunification center.
  • Bob Dylan announces Macon tour stop in October

    Bob Dylan announces Macon tour stop in October

    During the same week, the tour will swing through Asheville, North Carolina; Knoxville, Tennessee; and Macon, Georgia. Before that performance, Dylan played at Memorial Auditorium in 1994 and 1996.
    Disney’s New Star Wars Series Has a $100 Million Budget

    Disney’s New Star Wars Series Has a $100 Million Budget

    Although details about the plot have remained under wraps, we do know that Jon Favreau will be helming the project. Now, thanks to a lengthy New York Times piece about the upcoming streaming service, we have an answer.
    Caitlyn Jenner To Play Marvel Cinematic Universe Villain?

    Caitlyn Jenner To Play Marvel Cinematic Universe Villain?

    I would have gone down as the most macho guy in the world, and that's not me. "It's not even close to being me". "They've set our community back 20 years, easily", Jenner said at the time .
  • Allemagne: deux retraités se font la belle pour un concert de métal

    Allemagne: deux retraités se font la belle pour un concert de métal

    Ils ont été retrouvés quelques heures plus tard tranquillement assis au premier rang d'un concert de métal à 3 h, un matin samedi. Vendredi 3 août , un duo de pensionnaires de la maison de retraite de Dithmarschen (Schelswig-Holstein, Allemagne) a fait le mur.
    Troian Bellisario & Husband Patrick J. Adams Expecting First Child!

    Troian Bellisario & Husband Patrick J. Adams Expecting First Child!

    Their Greek holiday happened shortly after the couple attended Prince Harry and Meghan Markle's wedding in Windsor on Saturday 19 May.
    Japon : une touriste française portée disparue

    Japon : une touriste française portée disparue

    Nous sommes en lien constant avec les autorités japonaises depuis son signalement. Elle aurait juste emmené un petit sac, selon le propriétaire de l'hôtel.
  • Washington Open: Alexander Zverev and Svetlana Kuznetsova win finals

    Washington Open: Alexander Zverev and Svetlana Kuznetsova win finals

    All four semi-finalists at the Citi Open - Zverev, de Minaur, Rublev and Greece's Stefanos Tsitsipas - are 21 or younger. The 16th seeded Rublev started his day by defeating American Denis Kudla 6-1 6-4 in a delayed quarter-final match.

    Rick Gates says he and Manafort disguised foreign income as loans

    During Gates' testimony on Tuesday, Manafort stared coldly at Gates as the business partner-turned-witness testified against him. Gates said that he helped create documents to convert some income to a loan to lower Manafort's tax bill.
    D.C. Transit Scraps Idea For White Nationalist Train After Union Complaints

    D.C. Transit Scraps Idea For White Nationalist Train After Union Complaints

    A Unite The Right rally will take place in Washington, D.C. on August 12 and to prepare, D.C. Wiedefeld to make these unprecedented special accommodations for a hate group'.


Former Malaysian PM Najib Razak charged with 3 counts of money laundering
He is accused of abusing his power and of misusing funds in a RM42 million (S$14.7m) from the SRC International Sdn Bhd. The media had speculated that he would be arrested, but the former leader spent just 45 minutes there.

Bharat: Salman Khan Finally Reacts to Priyanka Chopra's Exit From The Film
His tweet, posted some days ago, coincided with reports in global media that Priyanka and Nick were already engaged . The 36-year-old actor said she does not feel the need to give explanation about her relationships to anyone.

Jose Mourinho Blocks Paul Pogba Exit
Rather than spending a huge amount on Pogba, the Catalan giants went for the cheaper option of buying Andre Gomes from Valencia. He is Manchester United's record signing with the Red Devils having forked out £89million for the midfielder.

Spanish fighter jet accidentally fires missile in Estonia
Two Spanish Eurofighter jets, and two French Mirage 2000 jets, were taking part in the training exercise, the ministry said . The missile fired by the jet should have self-destructed but apparently failed to do so.

Chris Pratt’s ‘Cowboy Ninja Viking’ Has Been Delayed Indefinitely By Universal
She most recently helmed the pilot for HBO's The Deuce, and also has the WWII thriller The Nightingale in development at Tri-Star. Craig Mazin wrote an earlier draft of the screenplay with an original draft by Paul Wernick and Everett David Reese .

L’acteur Dave Bautista dénonce l’attitude des studios Disney envers James Gunn
Après avoir déclaré que sa participation aux Gardiens de la galaxie 3 ne serait rien de plus qu'un engagement contractuel , il fait un pas de plus pour défendre James Gunn .

Alex Jones 'hasn’t violated our rules — Twitter CEO
It's not yet clear if the video platform's ban is permanent, but it appears that all InfoWars videos have been deleted. Twitter is in an extremely awkward position as the lone large social media company that still hosts Alex Jones .

Club bowler who denied batsman ton gets nine-game ban
Minehead CC players Angus Marsh took to Twitter and dubbed the incident as "the worst cricket moment of my life". Thanks for all the support today!' As usual, British media figure Piers Morgan led the charge.

L'Usine Auto: Elon Musk envisage de retirer Tesla de la Bourse... énième coup de com' ou hypothèse sérieuse ?
Auquel cas, il s'agirait, selon le cabinet Dealogic, de la plus grosse opération de rachat d'entreprise par LBO . Tesla n'a pas répondu aux sollicitations de commentaires dans l'immédiat.

Lyme Disease Has Spread To All 50 States, Report Finds
Levine said that as long as Lyme disease and Lyme carditis are caught early, they can be treated effectively with antibiotics. Levine says while tick-borne diseases can cause serious illness, Lyme disease, including Lyme carditis, is treatable.