Tuesday, 17 September, 2019

China's exports fall in August as US trade war rumbles

China's exports fell by 1.0 percent on-year in August after a surprise 3.3 percent rebound in July despite the yearlong battle with Washington and weakening global demand China exports drop amid trade war with U.S.
Steven Clarke | 11 September, 2019, 10:29

Exports to the United States sank to $44.4 billion.

On September 1, the U.S. imposed a 15% levy on more than $125 billion in Chinese imports including smart speakers, Bluetooth headphones, books, babies' nappies and many types of footwear.

In response, Beijing imposed their own tariffs on US imports, ranging from 10 percent and 5 percent on a variety of American-made goods.

China has issued its own tit-for-tat tariffs, taxing about $120 billion worth of U.S. goods. Some have been hit with increases a couple of times, while about $50 billion of US goods is unaffected, possibly to avoid disrupting Chinese industries.

The first round of tariffs in 2018 were on all imported washing machines and solar panels - not just those from China.

China has also introduced import tariffs on USA goods.

Tariffs of 15% on cellphones, laptop computers, toys and clothing are to take effect on December 15. China's Commerce Ministry said it "deeply regrets" the U.S. decision.

Trump, US media just can’t let go of ‘Sharpie-gate’
The original map, which had been issued by the National Oceanic and Atmospheric Administration (NOAA), did not show Alabama being in its path .

White House economic adviser Larry Kudlow said on Friday the United States wants "near-term" results from U.S.

China has taken a series of other retaliatory measures against the US, canceling purchases of soybeans, which is the biggest USA export to China, while imposing or announcing penalties on roughly $120 billion of USA imports.

However, neither side has backed off recently-imposed tariffs. According to diplomats, Germany, whose exports of cars and parts to the United States are more than half the European Union total, wants to press ahead with talks to ward off tariffs on automakers Volkswagen, Mercedes and BMW. China has asked its exporters to explore options in other markets instead of the US.

China's trade surplus with the US stood at US$26.95 billion, narrowing from July's US$27.97 billion, but still reached US$195.45 billion in the first eight months of this year, highlighting continued imbalances that have been a core complaint of US President Donald Trump in his administration's negotiations with Beijing.

Mexico on June 5, 2018 imposed tariffs of up to 25% on American steel, pork, cheese, apples, potatoes and bourbon, in retaliation for USA tariffs on Mexican metals.

USA and Chinese tariff hikes on billions of dollars of each other's imports have disrupted trade in goods from soybeans to medical equipment and battered traders on both sides.

Talks between President Trump and Chinese President Xi Jinping earlier this summer ended without a deal. That demand will prove to be a hard compromise for the US, as Washington claims some tariffs must remain in place to hold Beijing accountable for any agreements it makes. -China trade talks in September and October, but cautioned the trade conflict could take years to resolve.

Recommended

Sergio Ramos says Gareth Bale must consult conscience on Real Madrid commitment Sergio Ramos says Gareth Bale must consult conscience on Real Madrid commitment Regarding what has been said about Gareth, time eventually puts everything in place. The documentary will be available from Friday 13 September on Amazon Prime Video.

Wendy's to launch breakfast nationwide in 2020 Wendy's to launch breakfast nationwide in 2020 Others are less pessimistic about the move, like Brett Levy, the executive director at MKM Partners, Market Watch reported. The fast food chain delighted fans in August when it announced the return of its spicy chicken nuggets via Twitter .

Billionaire Philanthropist Jack Ma Officially Retires From Alibaba Billionaire Philanthropist Jack Ma Officially Retires From Alibaba He became pen pals with one of those foreigners, who nicknamed him "Jack" because he found it hard to pronounce his Chinese name. Founded in 1999 in an underground garage, Alibaba has grown into one of the world's most profitable companies.

British Airways cancels almost 100% flights as pilots begin strike over pay British Airways cancels almost  100% flights as pilots begin strike over pay Other carriers associated with British Airways , including BA CityFlyer, Comair and Sun-Air were not affected. The airline has also set up a dedicated page with information regarding the strikes.

House Democrats launch investigation into Pence's stay at Trump hotel in Ireland House Democrats launch investigation into Pence's stay at Trump hotel in Ireland Holding a vote will put Democrats on the record on whether they support opening an impeachment inquiry against President Trump. The White House declined to comment on the chairmen's letters.

IPhone 11 Pro brings triple cameras and big battery boost IPhone 11 Pro brings triple cameras and big battery boost With three new iPhones due to hit stores in just over a week we have had a first hands on look at Apple's shiny new thing. The Apple hearing study, which will analyze daily sound exposure and its impact on long-term hearing health.

UK: MPs reject snap general election UK: MPs reject snap general election Ian Austin, who resigned the whip earlier this year, launched an attack on Corbyn in a debate requested by the Labour leader on the rule of law.

HK activist and German FM meeting angers China HK activist and German FM meeting angers China It is against the law to disrespect the Chinese national anthem, which was played in the stadium before the match started. Some local fans continued to chant protest slogans during the match, which saw Iran beat Hong Kong 2-0.

Apple Watch Series 5 Launched with Always on Display; Starting at $399 Apple Watch Series 5 Launched with Always on Display; Starting at $399 Sleep tracking is one of the features that was rumored for this year, but that will have to wait for the Series 6 or beyond. The new titanium Watches start at $799 and that covetable white ceramic version starts at $1,299.

Cubs' Baez out with thumb fracture Cubs' Baez out with thumb fracture An MRI revealed Saturday that Baez has a hairline fracture in his left thumb, leaving him unable to swing a bat. We're going to miss him a lot, but like somebody says: 'One steps out.

Ellen DeGeneres recalls meeting baby Archie with Harry and Meghan Ellen DeGeneres recalls meeting baby Archie with Harry and Meghan DeGeneres also divulged what she and de Rossi discussed with the environmentalist Duke and Duchess of Sussex . They're just two of the most down to earth, compassionate people, they are doing so much good in the world.

Ancient Rock Reveals Shocking First Day After Dinosaur-Killing Asteroid Impact Ancient Rock Reveals Shocking First Day After Dinosaur-Killing Asteroid Impact While everyone knows an asteroid killed Earth's dinosaurs , how exactly it achieved this has remained the subject of some debate. Now a study by the University of Austin in Texas has confirmed the theory.

USA rallies to beat Great Britain & Ireland in Walker Cup USA  rallies to beat Great Britain & Ireland in Walker Cup Augenstein hit back for the Americans with a 2&1 win over Ireland's Conor Purcell making it 4-3 in the match overall. And John Augenstein and Andy Ogletree, 2 up with four to play, hung on for a halve with Sandy Scott and Euan Walker.

Nadal wins his fourth U.S. Open despite rally from Medvedev Nadal wins his fourth U.S. Open despite rally from Medvedev Nadal was broken in the 10th game of the fourth set to force a fifth when Medvedev blasted a sterling backhand return victor . The fourth set started with Medvedev battling from 0-40 down and then getting a break point in the next game which was saved.

Iran Moves Toward Enriching Uranium With Advanced Centrifuges: IAEA Iran Moves Toward Enriching Uranium With Advanced Centrifuges: IAEA The International Atomic Energy Agency (IAEA) is investigating the particles' origin and has asked Iran to explain the traces. Under the four-year-old atomic accord, Iran is supposed to be limited to operating 5,060 older IR-1 centrifuges.