China vows retaliation for latest United States tariff threat
China vows retaliation for latest United States tariff threat
Soybean prices have fallen dramatically in recent weeks.
Daniel Acker Bloomberg
12 July, 2018, 13:44
China' s Ministry of Commerce said that the tariffs are "totally unacceptable" and it is hurting the entire world, as well as China.
China's foreign ministry said the Trump administration's actions were "typical bullying" and promised retaliatory action against the USA, according to the wire service. It's unclear what that action could include.
The United States late Tuesday announced it was starting the process to slap 10 percent tariffs on another $200 billion in Chinese export goods as soon as September, escalating the trade war between the world's two largest economies.
President Donald Trump has threatened to tax as much as $US550 billion in Chinese products - an amount that exceeds America's total imports from China previous year.
Beijing has said it would hit back against Washington's escalating tariff measures, including through "qualitative measures", a threat that USA businesses in China fear could mean anything from stepped-up inspections to delays in investment approvals and even consumer boycotts.
"But China's reaction to the United States tariffs could pose a far greater threat to the index in time".
The list is subject to two months of finalization and input before possible implementation by President Donald Trump. "There is no justification for such action".
"The latest list of $200 billion of products to be subject to tariffs against China doubles down on a reckless strategy that will boomerang back to harm USA families and workers".
Four of Thailand's cave kids saved, rescue mission continues
The eight boys brought out by divers on Sunday and Monday were doing well and were in good spirits, a senior health official said. Chiang Rai governor Narongsak Osatanakorn, who is heading the rescue effort, said that Tuesday's operation involved 19 divers.
On Wednesday, the MSCI's broadest index of Asia-Pacific shares outside Japan was down about 1 percent, while the main indexes in Hong Kong and Shanghai recovered somewhat after falling more than 2 percent.
China 'cannot match fresh USA tariffs, ' Vishnu Varathan of Mizuho Bank said.
Senate Finance Committee Chairman Orrin Hatch, a senior member of Trump's Republican Party, said the announcement "appears reckless and is not a targeted approach".
China has become a key trade partner for USA energy exports, and potential tariffs on US energy goods could hurt USA producers and industries. Imposing taxes on another $200 billion worth of products will raise the costs of every-day goods for American families, farmers, ranchers, workers, and job creators.
Jack Gerard, Cal Dooley, and Edward R. Hamberger-the president and CEO of the American Petroleum Institute, president and CEO of the American Chemistry Council, and president and CEO of the Association of American Railroads, respectively-wrote in an opinion piece in the Washington Examiner published on Wednesday that the trade war is threatening the US economy and could add "hundreds of billions of dollars in potential costs for American businesses - costs that could ultimately be borne by consumers". "Tariffs threaten to boomerang on the very workers they're supposed to help, and will only further undermine the confidence manufacturers need to make investments in new equipment, facilities and people".
Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, said while he expects China to strongly condemn the USA moves, its policy response is likely to be limited for now. Both governments have raised tariffs on US$34 billion worth of each other's goods and already said they are considering additional charges on another US$16 billion. During a visit to Germany this week by Chinese Premier Li Keqiang, the countries signed business deals worth more than $23 billion.
"While the trade conflict between the USA and China has had a limited impact so far, we can't rule out the possibility of a slowdown in the Chinese economy and a contraction in world trade should conflict grow and spread into the global market", Finance Minister Kim Dong-yeon said at a government meeting.
I know England may have thought it was a bit tongue and cheek a few weeks ago, but you've got to focus on just one game at a time. As fellow pundits Gary Neville and Lee Dixon laugh, Wright says: "We weren't talking about the final, we were having a laugh".
Company shares fell as much as 5.9 per cent on Wednesday to US$47.80 near midday, the lowest intraday level since February 2016. Papa John's International, Inc. announced Schnatter has resigned as chairman in a statement late Wednesday night.
The $14 million cost for Ulchi Freedom Guardian represents a microscopic portion of the Pentagon's roughly $700 billion budget. What Pyongyang really wants is a four-party meeting with South Korea, China and the United States, the professor said.
Do they think if they blocked Kavanaugh, Trump would name a moderate? He later joined the administration of President George W. President Donald Trump waited for primetime to unveil his pick to replace retiring Supreme Court Justice Anthony Kennedy .
Alexander McQueen has previously designed Kate's wedding dress as well as ensembles for the previous two christenings as well. The ceremony will also take place in the same church as Prince George's christening, the Chapel Royal at St.
Police said Sturgess was at a home in Amesbury on June 30 when she became sick around 10 a.m. and was hospitalized. This has been identified as the same type of nerve agent that contaminated both Yulia and Sergei Skripal.
Mario Mandžukić secured the win with another goal in the 100th, just minutes before the game would have gone into penalties. The goal weakened the Croatian side, allowing England to retain possession and control the tempo of the first half.
The coronation of the presidential office as the nexus of political power takes place at a critical juncture. A senior adviser to Erdogan later said that governors would still be appointed for a five-year term.
This policy will be bad for our country and bad for the party. "Because I've already cleared the existing text with Mrs Merkel". Mr Buckland added that there had been a realisation that "we all hang together or we all hang separately".
Petersburg for the tournament , but their campaign has taken them to five different host cities. "I felt very welcomed. F1 driver Hamilton wrote on Twitter that the team had done England proud, showing "real grit and determination".
Kane ‘gutted’ as England’s World Cup dream dies
They needed a penalty shoot-out to see off Denmark in the last 16, though, after Modric had missed from the spot in extra time. For a second there, it did honestly feel like it was coming home, but alas, it was not to be.
Rescuers To Extract Final Five From Thai Cave Tuesday
They will only be allowed close contact once all test results have come back clear. "Four plus one coach , so it's five". Four Seal team divers - including a doctor - who stayed with the group were still to emerge, the Facebook post added.
Samsung will release a fully frameless smartphone
There were previous rumours that claimed that the Galaxy S10 + will come fitted with a triple-sensor camera on the rear. It has been speculated that the company may embed the speakers in the display to reduce that bezel space.
Thai official: Rescued boys generally healthy and smiling
All 12 boys trapped underground in Thailand have been rescued following the "largest, most complex cave rescue in history". Medical officials told reporters that they're healthy, fever-free, mentally fit and "seem to be in high spirits".