Monday, 23 July, 2018

U.S. drags China to WTO on discriminatory technology licensing requirements

The Trump administration decided to impose strict tariffs that would target China. But it was decided late Thursday night that the tariffs would be temporarily postponed on some of the nation's close allies Trade war: Extent of US-China trade fight depends on Trump's goals
Lori Graves | 25 March, 2018, 00:43

Trump threatened to slap tariffs on up to $60 billion of Chinese imports Thursday. And some of his supporters have argued that Trump's policies - especially his willingness to break with long-standing allies in Asia on trade - have presented China with an opportunity to make great strides toward that goal.

Yevtukhov said Russian Federation was also considering direct retaliatory measures against the USA tariffs, such as imposing reciprocal tariffs on us goods. A second list of goods, including wine, apples, ethanol and stainless steel pipe, would be charged 15 per cent, mirroring Trump's tariff hike on aluminum.

But some labor unions and Democrats said Trump was justified in delivering a swift blow to China after years of a lax response from the U.S.

"This has been long in the making", Trump said, adding that the tariffs could affect as much as $60bn in goods. "We look forward to the U.S. and China being able to negotiate a satisfactory arrangement that suits both sides".

"From China's perspective, it absolutely does not want to see a trade war".

The initial Chinese response may not be as severe as many fear but the conflict could easily escalate, said Robert Manning, an expert on US-China relations at the Atlantic Council in Washington.

Business groups mostly agree that something needs to be done about China's aggressive push in technology, but they worry that China will retaliate by targeting US exports of aircraft, soybeans and other products and start a tit-for-tat trade war of escalating sanctions between the world's two biggest economies.

However, Lou also said a trade war is not good for either side. The steps are based on the results of USTR's eight-month investigation of suspected misappropriation of American technology by China.

US stocks ended a turbulent week with a late-day sell-off that knocked the Dow down more than 400 points and pushed it officially back into "correction" territory as fears of a looming trade war prompted nervous investors to sell.

Iowa family of four found dead in Mexican resort town
According to ABC Des Moines affiliate WOI, the family left for Mexico on March 15 and were expected back in the US on Wednesday. Louis on March 21 and attend the Southwest Community College basketball game in Danville, Illinois. on Thursday.

Why Trump Threatened To Veto A Massive Spending Bill
Trump made his veto threat despite being scheduled to leave Washington for his Mar-a-Lago resort in Florida on Friday evening. He said the measure will keep the military funded and provide the largest pay increase for US troops in over a decade.

Trade War: China warns U.S. to step back 'from brink of precipice'
Stocks around the world have plunged as investors feared that a trade conflict between the U.S. and China would escalate. Hua said that a trade war, though undesired, would not deter China from its progress and development.

In addition to the tariffs, the USA also plans to impose new investment restrictions, take action against China at the World Trade Organization and the Treasury Department also will propose additional measures.

White House officials told a briefing ahead of the trade announcement that the administration was eyeing tariffs on $50 billion in Chinese goods.

USA measures are in response to the American companies' intellectual property theft by China. There was no explanation of the difference between that figure and Trump's $60 billion.

Trump moved on a separate trade front earlier Thursday, paving the way for tariffs on China as punishment for what he said is the theft of American technology. "But the contrast between China's growth and its unfair trade practices, and what had happened to the United States in terms of growth and wage growth, is quite startling", the official said. The American pork industry sent $1.1 billion in products, making China the No. 3 market for US pork.

The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping. That said, there is a risk of a mounting cycle of retaliation. "It also demonstrated that the global community is concerned about the recklessness and danger of USA policies and actions".

But China is less dependent on USA trade now than it was a decade ago, making its economy resilient to these sorts of punitive measures.

"An global trade war is in no one's interest".

To target China, Trump dusted off a Cold War weapon for trade disputes: Section 301 of the U.S. Trade Act of 1974, which lets the president unilaterally impose tariffs. Next came steel and aluminum tariffs, prompting an outcry from trading partners and criticism that those tariffs will have only a small impact on China.

Recommended

  • Apple to fix blabbermouth Siri bug that reads your private notifications aloud

    Apple to fix blabbermouth Siri bug that reads your private notifications aloud

    KitGuru Says: Apple hasn't had a wonderful time with iOS 11 so far, having to fix its many bugs since it released previous year . The bug works on the most recent iteration of iOS ( iOS 11 .2.6) and is said to work on the iOS 11.3 beta as well.
    European Union  steel imports rise ahead of Trump tariffs, threaten jobs - Eurofer

    European Union steel imports rise ahead of Trump tariffs, threaten jobs - Eurofer

    Lighthizer said that talks were under way with the European Union, Argentina and Australia. China has vowed to take retaliatory measures in response.
    Trump, Saudi Prince Assail Iran Over Support For Yemeni Rebels

    Trump, Saudi Prince Assail Iran Over Support For Yemeni Rebels

    He said he favors greater rights for Saudi women, like driving, and wants to reduce the overall power of the country's clerics. He will then look to engage other aspects of his Vision 2030 in trips to Silicon Valley and other parts of he US.
  • Hundreds gather to leave second pocket in Syria's Ghouta

    Hundreds gather to leave second pocket in Syria's Ghouta

    Ahrar al-Sham had made some demands in the talks but were pummelled into accepting whatever conditions were imposed to them. Air strikes killed 37 people in a Syrian town hours before a ceasefire began, rescuers have said .
    WWE SmackDown Results: Daniel Bryan is back

    WWE SmackDown Results: Daniel Bryan is back

    Since 2016, Bryan has been the on-screen general manager for SmackDown Live . However, after he left the company in 2014 they went with Daniel Bryan .
    IndiGo's woes continue as 3 aircraft face tech glitches

    IndiGo's woes continue as 3 aircraft face tech glitches

    For a while, the two airlines operated these aircraft under certain restrictions but later, the problem was said to be solved. An A320 neo aircraft that operated Mumbai-Jammu, during maintenance checks was detected with leakage from one engine.
  • EU Joins UK in Denouncing Russia Over Poisoning of Spy

    EU Joins UK in Denouncing Russia Over Poisoning of Spy

    Grybauskaite said Friday that "we got more detailed information from the prime minister May and it was very good information". Britain says the expelled Russians, who left London earlier this week, were undeclared intelligence agents.
    Curry (ankle) set to return tonight vs. Hawks

    Curry (ankle) set to return tonight vs. Hawks

    Young, Patrick McCaw , Jordan Bell and Zaza Pachulia joined Curry in the starting lineup. "I feel bad", Kerr said. Omri Casspi (Out - Ankle): The Warriors have listed Casspi as OUT for Friday's game (Mar. 23) against the Hawks.
    WhatsApp co-founder calls for everyone to delete Facebook

    WhatsApp co-founder calls for everyone to delete Facebook

    In 2014, Facebook bought WhatsApp for a whopping United States dollars 19 billion, making it the company's largest acquisition. The company made use of this data to build a social media strategy in order to assist Donald Trump's campaign for president.
  • Americans want armed school guards and tighter gun…

    Americans want armed school guards and tighter gun…

    Noah then asked the students what they think about some of the proposals and solutions that have come forward about gun control . As it stands now, anyone can illegally adjust a pistol or rifle to shoot just as many bullets, and just as quickly.
    Indiana Alzheimer's Cases And Costs Rise

    Indiana Alzheimer's Cases And Costs Rise

    The diagnosis cases are such strong that in every 65 seconds, some in the USA gets diagnosed with Alzheimer's dementia. With his support, this bill can affect the lives of so many affected by this debilitating disease.
    Snow moving out but cold air sticking around

    Snow moving out but cold air sticking around

    It may take the better part of the morning and possibly into the afternoon hours before the snow showers wind down. The vernal (aka spring ) equinox, which marks the moment that astronomical spring begins, is at 12:15 p.m.

Pakistan Day celebrated in China Pakistan Day celebrated in China He was received by Pakistan's Prime Minister Shahid Khaqan Abbasi at the parade ground. Rt Honourable, Mr Nanda Bahadur Pun, Vice President of Nepal was the Chief Guest.

NYC snow: 3 fatalities as a result of nor'easter's snow NYC snow: 3 fatalities as a result of nor'easter's snow Slowdowns were reported on Long Island's Montauk, Port Jefferson and Ronkonkoma lines, according to the railroad's website. Snowfall rates could reach 1 to 3 inches per hour from Philadelphia to New York City Wednesday afternoon and evening.

Dropbox hikes IPO price to $21 a share, raising a tidy $756M Dropbox hikes IPO price to $21 a share, raising a tidy $756M Dropbox ( DBX ) shares rose more than 40% in Friday trade in the cloud storage provider's first day of trading on the Nasdaq. Including the restricted stock units, the value of the company now increases to over $9.1 billion.

World Tuberculosis Day raises awareness about deadliest infectious disease World Tuberculosis Day raises awareness about deadliest infectious disease We have been battling TB for more than 30 years, and are one of the biggest non-governmental treatment providers in the world. There were 4,268 persons living with HIV at the end of 2016, and there are 225-250 new HIV cases every year.

Mother Shares Frustration with How Maryland High School Handled Shooting Mother Shares Frustration with How Maryland High School Handled Shooting Mary's County before the campus security officer intervened, county Sheriff Timothy Cameron told a news conference. It's not yet clear whether Rollins was then killed by a responding school resource officer or took his own life.

British PM Theresa May welcomes confirmed EU Brexit transition offer British PM Theresa May welcomes confirmed EU Brexit transition offer Donald Tusk, the president of the European Council, announced the decision by the EU 27 leaders on Twitter on Friday morning.

Bank of England to keep its main interest rate unchanged at 0.5% Bank of England to keep its main interest rate unchanged at 0.5% One of Gordon Brown's first moves as chancellor in 1997 was to hand control of interest rates to an independent Bank of England . Which means this morning's meeting needed to lay some grit and sand for what must be an inevitable May interest rate hike.

French supermarket attack: Police 'hero' dies of wounds French supermarket attack: Police 'hero' dies of wounds The national police spokesman, who was not authorized to be publicly named, said an operation to apprehend him was underway. After an hours-long standoff, the 25-year-old attacker was slain as elite police forces stormed the market.

No more free reign to China, says Trump after announcing tariffs No more free reign to China, says Trump after announcing tariffs Should China retaliate further, a prime target is soybean farmers like Poskin, who are uniquely vulnerable to Chinese retaliation. A delivery man calls for directions while pulling a cart of goods past a USA apparel store in Beijing Friday, March 23, 2018 .

Usain Bolt Begins Trial With German Club Borussia Dortmund Usain Bolt Begins Trial With German Club Borussia Dortmund Dortmund also shared a video of him doing a basic training with the team, including Marco Reus, Mario Goetze and Andre Schurrle. However, he was very clear that he does not want to play lower league football.

Trump Signs $1.3 Trillion Omnibus Spending Bill Trump Signs $1.3 Trillion Omnibus Spending Bill Left out of the spending plan, however, were fixes meant to stabilize the Affordable Care Act's exchanges . But because of the GOP defections, what is normally an easy vote for the GOP majority was a nailbiter.

Single Powerball jackpot ticket worth $457M sold!! Single Powerball jackpot ticket worth $457M sold!! Patrick's Day brought some great luck to this fortunate Powerball player and we are anxious to meet our big victor or winners". Three other tickets - sold in California, Missouri and Texas - matched all five white balls in the drawing. "It seems that St.

Robert Downey Jr, Benedict Cumberbatch heading to Singapore for Avengers: Infinity War Robert Downey Jr, Benedict Cumberbatch heading to Singapore for Avengers: Infinity War Russo also mentions that Thor has "a really interesting arc" and a very significant role to play in the events of the movie. So Twitter took it to themselves to remind Marvel about what they think are the biggest crossover events.

Trump Calls Putin To Congratulate Him On Election Win Trump Calls Putin To Congratulate Him On Election Win The US President Donald Trump says he called his Russian counterpart Vladimir Putin to congratulate him on his election victory. Putin, who easily won a presidential election Sunday in which he faced no real competition.

Trump plans to hit China with $60 bn in annual tariffs Trump plans to hit China with $60 bn in annual tariffs Exemptions for Canada and Mexico, America's partners in the North American Free Trade Agreement, have triggered a rush by other allies to avoid the tariffs.