China raises tariffs on USA imports in trade war

15 Mai, 2019, 03:25 | Auteur: Auguste Feret
  • President Donald Trump arrives to speak on energy infrastructure at the Cameron LNG export facility Tuesday

US stocks extended a rebound from the worst rout in four months as President Donald Trump moved to reassure markets that he'll clinch a trade deal with China. Both governments indicated more talks are likely but set no date.

"I have a feeling it's going to be very successful", he said.

Beijing matched Trump's earlier 25 per cent tariff on $50 billion of American goods.

He refuted Trump's allegation that China is going back on agreements reached in earlier rounds of talks and accused the U.S. president of violating the consensus reached between the two sides.

Since previous year, the trade war has gutted USA farm exports to China and weighed on the manufacturing sectors in both countries.

The United States and China have so far exchanged tariffs on more than $360 billion in two-way trade.

The Trump administration past year offered $12 billion in compensation to American farmers and has vowed to do more, using the revenues from the new tariffs - which he incorrectly claims is paid by China rather than U.S. importers. But he said nothing about Monday's 2.4% stock market plunge after China countered Trump's levies by announcing June 1 tariff increases on $60 billion worth of US exports.

On Tuesday, the president remained defiant, tweeting: "In one year Tariffs have rebuilt our Steel Industry - it is booming!"

"When the time is right we will make a deal with China", Trump said.

And over the past year, they have been targeted not only by China but also the European Union, Canada and Mexico.

Felicity Huffman Pleads Guilty, Prosecutors Recommend 4 Months Jail Time
Huffman , 56, agreed to plead guilty to conspiracy to commit mail fraud and honest services mail fraud in April. In addition, lawyers say she will be expected to serve one-year of supervised release and owe $20,000 in fines.

Christian Pulisic can’t wait for Chelsea Premier League debut
Pulisic joined Chelsea from Borussia Dortmund for £58m in January but spent the remainder of the season at the Bundesliga club on loan.

Mark Walton Trying Out For Dolphins
The arrests are going to haunt Walton at least until there is a resolution. "He's a talented player", Flores said of Walton. The Dolphins announced several signings on Sunday, including among them for Cincinnati Bengals running back Mark Walton .

A container ship is unloaded at the Virginia International Gateway terminal in Norfolk, Va., May 10, 2019.

In addition to tariff hikes, China could also use other measures to hit back at the United States, as it imports fewer U.S. products - which limits its ability to match tariffs dollar-for-dollar.

"China will never surrender to external pressure", foreign ministry spokesman Geng Shuang said at a regular briefing on Monday.

Mary Lovely, an economist at Syracuse University, said it is unclear whether the expanded tariffs will pressure Beijing to give in to US demands.

On Monday, Trump said he would talk to Chinese President Xi Jinping at a G20 summit in late June.

The Office of the U.S. Trade Representative on Monday published a list of 3,805 products that could be hit for the first time with 25% tariffs. It said the new measures could impose an additional duty of up to 25%. "The U.S. -instigated trade war against China is just a hurdle in China's development process". But the Chinese economy is resilient enough to go through the trade war.

"This is only too belatedly they've accepted the fact that it is a trade war", he said. But he said "there is no doubt" that diminished sales of farm products to China have hurt his home state of Missouri and other parts of the agrarian U.S. Midwest. "This would make US households spend less as they see the value of their shares decline". They have these rules that force US companies to transfer technology. Its state media kept up a steady drum beat of strongly worded commentary, reiterating that the door to talks was always open but vowing that China would defend its national interests and dignity.

"The question is what's the smartest, most effective way to do it", Van Hollen said. "Americans' entire shopping cart will get more expensive". So, it's important that we address the fundamental issues in China's economy. It's not clear to me that the president's policies are addressing that, but we'll see.

Lachman said that if a deal is not reached soon, the world will see more sell-offs such as the one seen on Monday in the United States. Economists say more might follow to reduce the risk of American tariff hikes.


  • 2019 iPhone XR New Color Options Revealed Ahead Of Release

    Aside from getting new colors, this year's iPhone XR is believed to get upgraded specs, particularly an upgraded camera. Mac Otakara created a short video to simulate how the new iPhone XR would look like in these colors.
    Urias arrested for suspicion of domestic battery

    Urias arrested for suspicion of domestic battery

    Urias began the season in the starting rotation but moved to the bullpen once Clayton Kershaw came off the injured list. Urias, born in Sinaloa Mexico, made his Dodger debut in May 2016, posting an overall record of 7-6 with 133 strikeouts.
    The saga is nearing its end: Barcelona must decide on Griezmann

    The saga is nearing its end: Barcelona must decide on Griezmann

    His departure from Atletico opens a massive vacancy up front for Diego Simeone, whose side is in for some major decisions in the coming months.
  • Does Jason Kidd hire show Lakers are committed to Lonzo Ball?

    Does Jason Kidd hire show Lakers are committed to Lonzo Ball?

    Thanks to Bird Rights, the team can make their signings this year, and go over the cap to sign the young core when the time comes. He led the Pacers to five playoff appearances and back-to-back trips to the Eastern Conference Finals in 2013 and 2014.

    Bill Nye: It's time to grow up, realize planet is on fire

    Alexandria Ocasio-Cortez's (D-N.Y.) comprehensive Green New Deal , cued a segment Nye filmed for Oliver's show. "No one solution is going to be almost enough" to combat climate change , and there are lots of ideas.
    Killing Eve slays rivals at Baftas

    Killing Eve slays rivals at Baftas

    Sunday night saw the BAFTA TV Awards handed out, and Killing Eve was one of the biggest winners, picking up four trophies in all, including drama series.
  • Four Louisiana officers in President Trump's motorcade crash on interstate

    Four Louisiana officers in President Trump's motorcade crash on interstate

    Images of the crash show one officer in a grassy area between two lanes on the highway, apparently in the process of sitting up. Motorcycle escorts stopped to deal with the accident, and some of them returned later to the motorcade, Reuters reported.
    Kit Harington React: 'Game of Thrones' Documentary

    Kit Harington React: 'Game of Thrones' Documentary

    The rest of the clip shows behind-the-scenes footage of all the work that went into bringing the final season to life. Three more Game of Thrones prequels are also planned, with the original series due to end on Monday.
    Tim Conway, star of the ‘Carol Burnett Show,’ dies at 85

    Tim Conway, star of the ‘Carol Burnett Show,’ dies at 85

    It was Allen who had advised him to change his name from Tom to Tim to avoid being confused with a British actor. Besides his four Emmys with Burnett, Conway got two more for guest appearances on " Coach " and " 30 Rock ".
  • 'Star Wars' movie in 2022 will come from 'Game of Thrones' creators

    'Star Wars' movie in 2022 will come from 'Game of Thrones' creators

    The first of the new series will be written and produced by Weiss and Benioff. He also offered praise for The Rise of Skywalker , a.k.a.
    Poutine veut

    Poutine veut "rétablir des relations complètes" avec les États-Unis

    Sergueï Lavrov, de son côté, se disait désireux de "construire un nouveau modèle de perception mutuelle". J'espère que les conditions nécessaires à cela seront désormais créées", a-t-il continué.

    Judge to hear suit over Trump financial records demand

    The lawsuit was brought April 22 by Trump and several of his businesses against House Oversight Committee Chairman Elijah E. Cummings (D-Md.) and Trump's accounting firm.


Meghan Markle's Instagram Posted a Photo of Archie's Feet for Mother's Day
The rest of Archie isn't included in the shot, but he is wrapped in what appears to be the same white blanket by G.H. Hurt & Son from the photo shoot last Wednesday when Baby Sussex was introduced to the world.

Montana Gov. Steve Bullock joins race for 2020 Democratic nomination
He served as Montana's attorney general before being elected to his first term as governor in 2012. At that point, he leans into his trump card.

Yemen rebels hand security of Hodeida ports to coastguard
But a lack of trust between the government and the Houthis hampered agreement on details of the withdrawals. The official spoke on condition of anonymity as he was not authorized to speak with the media.

South African student arrested for eating at KFC free for a year
A 27-year-old South African student was arrested after his finger nickin' good plan to get free KFC for an entire year backfired. He has been eating for free from different KFC outlet and repeating the same story anytime he walks into the restaurant.

John Mayer Clears Up Kourtney Kardashian Dating Rumours For The First Time
He explained that nothing romantic or flirty happened when he and Kardashian were seen talking that night in December 2018.

Jameela Jamil says abortion was the 'best decision' she ever made
Since Kemp signed the bill last week, the discussion around abortion access has gotten more intense and personal, with many celebrities opening up about their own abortions, and how having that legal choice allowed them to pursue their current life. "So very cruel", she wrote.

Virat Kohli is phenomenal as a skipper, says Simon Katich
Shadab, 20, was originally named in the squads for the current England limited-overs series and World Cup only to be ruled out after contracting a virus.

Spanish GP: Qualifying team notes - Haas
Sunday marked Grosjean's best finish of the season and was a sign of progress for the Swiss-Frenchman. "The vehicle works here, but I don't think our problems are solved".

EN DIRECT - La Suède relance les poursuites pour viol contre Julian Assange
Lundi, la justice suédoise a annoncé la réouverture de l'enquête pour viol contre Julian Assange . Le parquet va lancer dans les plus brefs délais un mandat d'arrêt européen à l'encontre de M.

Riyad Mahrez devrait rester à Manchester City — Premier League
Je savais que ça n'allait pas être évident durant ma première année, mais je suis confiant (pour la suite). Il a, également, poursuivi: "Ça fait partie du jeu, je dois être fort et ne pas me cacher''".