Monday, 27 May, 2019

US Trade Tantrum: The Fallout for China and Asia

Wallace Asks Kudlow 'Are You Reading Upside Down' China hikes tariffs on most U.S. goods in $60 billion target list
Jean Garcia | 14 May, 2019, 13:53

Beijing's latest retaliation against U.S. tariff hikes - an increase on US$60 billion (S$82.1 billion) of United States imports from June 1 - could leave China running low on ammunition in the trade war. Both companies get a significant amount of revenue from China and stand to lose heavily if the trade war drags on.

The latest bullets in the U.S.

The increased funding request, announced by President Donald Trump on Twitter, comes almost two months after Vice President Mike Pence declared the objective of shortening by four years NASA's timeline for putting astronauts back on the moon for the first time since 1972.

"I think that China felt they were beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the US for $500 Billion a year", Trump said. I know why you want to change it, because it makes it seems less unsafe. "Would be wise for them to act now, but love collecting BIG TARIFFS!"

"Such an easy way to avoid Tariffs?"

The U.S. Trade Representative's office said later it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.

China on Monday said it will impose tariffs on $60 billion worth of USA goods from June 1, after Washington announced plans to tax nearly all Chinese imports to the United States.

Although the $60 billion of retaliatory tariffs China announced Monday includes a long list of foods produced in the United States, industry experts say the impact on US agriculture is hard to predict because numerous most damaging agricultural tariffs are already in place.

China's State Councilor Wang Yi said China and the US both have the "ability and wisdom" to reach a fair trade deal that would be good for both sides. Whereas the entire country and all the people of China are being threatened.

Research: Shrinking moon may be generating moonquakes
A new analysis suggests that the moon may still be shrinking today and actively producing moonquakes along these thrust faults. NASA's Lunar Reconnaissance Orbiter captured this view of the Taurus-Littrow valley, which features a scarp cutting across it.

USA negotiators reportedly have told Beijing it has a month to reach a deal or face tariffs on all its us exports.

He argued that the U.S.is reaping "billions" through tariffs, so he may impose additional levies even as Republican allies and American farmers urged him to find an acceptable way out of the trade war. China's manufacturers will get hit by lower demand, which is an indirect cost of tariffs, and of course China's consumers will pay for their own government's tariffs.

US officials are targeting a $300 billion list of additional Chinese imports including laptop computers for tariff hikes, ratcheting up a trade fight that is shaking financial markets and fueling fears about global economic growth.

Asian stocks fell broadly, with Nikkei 225 index dropping 0.7 percent and the Shanghai Composite shedding 1.2 percent. "The U.S. -instigated trade war against China is just a hurdle in China's development process".

Beijing announced shortly after that it was hitting over 5,000 categories of United States products with tariffs of five to 10 percent.

"The market thought it was positioning and at the end of the day there would be a deal and that over the weekend they would work things out and that is clearly not the way this thing is going", said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont. However, if the Chinese negotiate team also insists on the same principle of "China First" following Trump's logic, how can the two countries reach a deal? Yet rather than a monetary response, it sees Beijing as continuing to launch "reform-oriented measures to address structural issues that may lead to economic collapse", so-called "grey rhinos" that represent obvious yet ignored risks.

Beijing is running out of US imports to penalize because of the lopsided trade balance between the world's two largest economies.

"U.S. consumers, farmers, businesses and so on have become the victims of the trade frictions provoked by the United States".

Recommended

Google Pixel 3a and Google Pixel 3a XL are being Aggressively Advertised Google Pixel 3a and Google Pixel 3a XL are being Aggressively Advertised The handset packs a much higher 3,700 mAh battery with the 18W fast charging support than its sibling. Before to download the images, have a look at the smartphone specifications and features .

2019 iPhone XR to Come in 2 New Colours 2019 iPhone XR to Come in 2 New Colours Renders show that iPhone 11r will feature the same notched display, metal frame, and glass design that we have seen on iPhone Xr . There are rumors that Apple is also planning to launch two more iPhone models, both of which will feature triple-lens cameras.

WhatsApp Discovers Surveillance Attack, Urges Users to Upgrade WhatsApp Discovers Surveillance Attack, Urges Users to Upgrade According to the Financial Times , WhatsApp already alerted the US Department of Justice about this attack last week. Popular messaging app , WhatsApp had a vulnerability that allowed attackers to install government-grade spyware.

Kabir Singh Trailer: Arjun Reddy Recreated!.. Kabir Singh Trailer: Arjun Reddy Recreated!.. Fans joked about everything from Shahid's rugged look, to some of the film's more over-the-top scenes of drug abuse and violence. Explaining how it's important to the storyline, Shahid says, "When you watch the entire film you will understand his attitude".

U.S. jury awards $2bn damages in Roundup weedkiller cancer claim U.S.  jury awards $2bn damages in Roundup weedkiller cancer claim FILE PHOTO: The Bayer AG logo sits on display at the headquarters in La Garenne-Colombes, near Paris, France, May 13, 2019. Bayer also points to several regulators around the world that found that glyphosate was not carcinogenic to humans.

Everton Fans Mock Liverpool, Club Also Trolls Them On Twitter Everton Fans Mock Liverpool, Club Also Trolls Them On Twitter As for Cardiff, they play Manchester United ( USA ), who just happen to be led by former Cardiff City manager Ole Gunnar Solskjaer.

Apple Releases New TV App Apple Releases New TV App Apple's new TV app is also rolling out via an update to tvOS (also numerated 12.3) on the company's Apple TV set top boxes. AirPlay 2 and HomeKit functionality will arrive for certain Vizio, LG and Sony smart TVs later this year.

Game of Thrones Goes Mad With Bloodiest, Fieriest Episode Ever Game of Thrones Goes Mad With Bloodiest, Fieriest Episode Ever True fans will recall that this legendary swordsman had to relearn the art of combat after his right hand was chopped off in Season 3.

Six killed in attack on church in Burkina Faso Six killed in attack on church in Burkina Faso They started firing as the churchgoers tried to flee". "People are holed up in their homes, nothing is going on". Schools and teachers have also been targeted by the groups, who are opposed to Western education.

Manny Pacquiao vs. Keith Thurman Set for Welterweight Bout in July Manny Pacquiao vs. Keith Thurman Set for Welterweight Bout in July A PBC source told ESPN the fight likely will also take place in Las Vegas on the early portion of the Pacquiao-Thurman card. Pacquiao (61-7-2, 39 KOs) holds the WBA welterweight title.

Gates Says Trump Should Have Been Tougher On Putin Gates Says Trump Should Have Been Tougher On Putin Jerrod Nadler said American politics were in "a sorry state" if the president's lawyer was seeking foreign interference. Usually, when the president talks about the Times , it is to attack the paper as "failing" or part of the 'fake news'.

Felicity Huffman pleads guilty in college admissions scandal Felicity Huffman pleads guilty in college admissions scandal Under the plea deal, prosecutors recommended a sentence of four months, a year of supervision and a $20,000 penalty for her. The Emmy-award winning actress was accused of paying $15,000 to have a proctor correct the answers on daughter's SAT exam.

'This is Liverpool' - Jürgen Klopp reflects on Barcelona triumph 'This is Liverpool' - Jürgen Klopp reflects on Barcelona triumph Wow. "If people judge me on not winning something in the past or winning something in the future, I can not change that". Looking forward to games, enjoying games and last Tuesday was the icing on the cake so far.

Sunday's National Basketball Association roundup: Raptors, Trail Blazers advance to conference finals Sunday's National Basketball Association  roundup: Raptors, Trail Blazers advance to conference finals As a team, the Raptors are shooting 46.4 percent from the field and 34.6 percent from three-point range at Scotiabank Arena. Denver ranks third in assists per game (27.0) while Portland ranks 26th (22.5). "Everybody was locked in", Simmons said.

Aaron Rodgers Appears as Soldier in 'Game of Thrones' Cameo Aaron Rodgers Appears as Soldier in 'Game of Thrones' Cameo Football fans watching Sunday night's fiery " Game of Thrones " episode may have caught a familiar face in the crowd. The Packers quarterback was featured as a soldier on the battlefield in the latest episode of " Game of Thrones ".