Beijing Ready to Retaliate Against US Tariffs on Chinese Goods
Beijing Ready to Retaliate Against US Tariffs on Chinese Goods
Trump announces 25% tariff on Chinese imports
19 June, 2018, 23:11
Trump's decision on the Chinese tariffs comes in the aftermath of his summit with North Korean leader Kim Jong Un.
Washington and Beijing appeared increasingly headed toward a trade war after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policy, market access and a $375 billion trade gap. "China does not want a trade war", the statement continues by promising to "fight back vigorously" in defense of globalization and the world trade system. An initial list of 545 categories of items valued at $34 billion will be subject to tariffs starting July 6th-the same day the US says it will impose tariffs.
The Chinese commerce ministry issued a statement condemning the Trump administration's most recent tariffs, stating its intent to match all tariffs with equal restrictions on USA trade in a tit-for-tat battle over trade.
The Chinese government's top diplomat, State Councillor Wang Yi, said his country was prepared to respond if Trump went ahead with the tariffs.
Beijing has drawn up a list of 50 billion dollars (£38 billion) in U.S. products that would face retaliatory tariffs, including beef and soybeans - a shot at Mr Trump's supporters in rural America.
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The Commerce Ministry says "the Chinese side doesn't want to fight a trade war, but facing the shortsightedness of the USA side, China has to fight back strongly". Another 284 products worth $16 billion were than added to the new list for the total of 1,102 pre-cuts worth about $50 billion.
While Trump has sought to impose tariffs on goods that could complicate China's attempts to become a leader in the tech space, the Middle Kingdom has been pressuring parts of the US president's voter base-namely, the farming community. "My great friendship with President Xi (Jinping) of China and our country's relationship with China are both very important to me", Trump wrote. It includes a list of products which USTR argues have benefited from Chinese industrial policies, including the Made in China 2025 policy.
"'There is no trade war".
It said: "An escalating global trade dispute or widespread rises in import tariffs would have a marked negative impact on Germany's export oriented economy". Numerous exports are linked to the nation's "Made in China 2025" plan to lead the world in sectors like AI and robotics. In a joint news conference Thursday evening in Beijing, Chinese Foreign Minister Wang Yi said China and the United States have two options before them: one is "cooperation" and a "win-win" scenario and the other is "lose-lose". The affected nations have appealed to the World Trade Organization (WTO), demanding compensation over what they call a "protectionist measure".
That's why dozens of businessmen and businesswomen from across the country came to Washington, D.C., last month to beg the administration to abandon its ill-conceived plan to tax Chinese imports.
Yuya Osako of Japan (right) and Davinson Sanchez of Colombia in action during the 2018 World Cup in Saransk , Russia, today. Japan led after only five minutes, Kagawa converting a penalty awarded for Carlos Sanchez's handball in the area.
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The North African country claimed 33 per cent of the vote. "We tried to make the case of what's best for FIFA", Cordeiro said. The first victor of a World Cup Golden Ball award, Rossi was given the prize after Italy added the third star to their crest.
Elsewhere, Arsenal are scheduled to play their north London derbies against Tottenham in December and March. Dates for all 380 matches will be revealed, with the league campaign running from 11 August to 19 May.
The Fed also signaled that it will raise rates more this year than previously expected - four times rather than three. Boeing and Caterpillar, two blue-chip companies with significant operations in China, both lost around two per cent.
The European Central Bank has trimmed its forecast for economic growth this year but raised its predictions for inflation. Ten-year government bond yields in Germany, the euro zone benchmark, fell around four basis points to 0.43 percent.
The 2018 British Open will take place July 19-22, and it represents McIlroy's next opportunity to win his fifth major . He still is 10 shots behind leader Dustin Johnson . "I think they misjudged the strength of the wind".
It will focus in part, on how then-FBI Director James Comey's actions may have influenced the 2016 presidential election. How will President Trump react? Comey said he faced the tough choice of speaking out or concealing the information.
The Cavs will likely have to give up a package centered on the 8th pick in the 2018 NBA Draft and five-time All-Star Kevin Love . It's also unclear if the Spurs would be willing to trade Leonard to the Lakers or to any team at all .
Kaitlyn soon discovered her head did indeed fit - then realised she was unable to take it back out again. The teen said she was stuck for about 45 minutes and had a brief medical check up immediately after.
Word does get around, however, and the prospect of a meeting between Kim and Trump had already been on the public's radar. Kim Jong-un is due to leave on Tuesday afternoon, a source involved in the planning of his visit, said on Sunday.
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