White House announces additional $200B in tariffs targeting China
White House announces additional $200B in tariffs targeting China
Soybean prices have fallen dramatically in recent weeks.
Daniel Acker Bloomberg
11 July, 2018, 05:13
The United States has chose to impose tariffs on $200 billion worth of imports from China after efforts to negotiate a solution to the trade dispute failed to reach an agreement, senior administration officials said on Tuesday. China has vowed to retaliate dollar-for-dollar to any further USA tariffs.
USTR will hold hearings in late August on the list of targeted products, and an administration official said it would take about two months to finalize, at which point Trump would decide whether to go ahead with the tariffs.
The fight with China comes as Mr. Trump is also locked in a trade war with Canada, Mexico, the European Union and other USA allies.
Trump has been considering tariffs against China since his officials concluded in March that Beijing violates US intellectual-property rights, such as by forcing American firms to hand over technology.
China's retaliation to those measures was "without any worldwide legal basis or justification", Lighthizer said Tuesday.
Much of what the USA imports from China is apparel, handbags, shoes and electronics - products that were largely spared in earlier tariff lists.
Instead of giving in, however, China hit back with dollar-for-dollar retaliatory tariffs on US products.
"Trump's escalation of trade hostilities makes it increasingly hard to envision an exit path from an all-out trade war".
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The move comes just days after the United States and China imposed tit-for-tat tariffs of $34bn on the other countries' goods. Rather than address our legitimate concerns, China has begun to retaliate against USA products.
Assuming that happens as planned, the Trump administration will have levied tariffs on over $100 billion in imports into the United States.
"Tariffs on such a broad scope of products make it inconceivable that American consumers will dodge this tax increase as prices of everyday products will be forced to rise".
Trump authorized an initial $50 billion in tariffs - including the $34 billion that took effect Friday - to match those losses.
The U.S.is now considering levying duties on a further $16 billion in Chinese goods, after a public hearing later this month.
"For companies that are severely impacted, we suggest they report to local government departments", the Commerce Ministry said in a statement Monday.
China also seems to be projecting confidence that it can withstand political turmoil, said David Rank, former deputy chief of mission at the U.S. Embassy in Beijing.
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Monday's operation shaved two hours off the time spent freeing the first four boys on Monday, officials said. The footballers still awaiting rescue are about two kilometers further in, at a point very hard to access.
Pompeo himself reportedly laughed when asked about the CD last week but did not confirm or deny the South Korean newspaper report. Pompeo later dismissed those comments, saying the two sides "made progress" and that talks will continue.
All three took place over the course of a few hours in Las Vegas , Pastrana rattling through them with nearly ruthless efficiency. In the age of social media and millions of eyes being on live events like this, it was surely health'n'safety-ed to the max.
If you're a cord cutter without a TV, you can stream it online on C-SPAN or via the embedded video below from PBS Newshour . He recently voiced disagreement with a court decision allowing an undocumented teenage immigrant to get an abortion.
PT Monday night. "Let's say it's the four people, but they're excellent, everyone, you can't go wrong", Trump told reporters. Barrett is Catholic and was better known as a professor at Notre Dame before being named a federal judge a year ago .
On Sunday, the 20-year-old reality star and makeup mogul shared two photos of her and her BFF, Anastasia Karanikolaou (a.k.a. In an interview with Complex magazine in 2016, Kylie revealed she chose to get lip fillers after a kiss went wrong.
La Nuova also reports that George's wife, Amal Clooney , rushed to be by his side when she heard news of his hospitalization. Clooney was transported to the John Paul II Hospital emergency room, but his injuries were not serious, La Stampa reported .
The new facility, which has been dubbed the "world's largest mobile factory", is located in Sector 81, Noida , Uttar Pradesh . The 35-acre first-of-its-kind facility is expected to double Samsung's manufacturing capacity in the country.
However, the dive is complex - with one Navy SEAL dying during the rescue efforts - and numerous boys do not know how to swim. On the surface, a huge military and civilian rescue operation is racing against the clock to bring the boys to safety.
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Two of the boys are being treated for potential lung infections - but they're expected to make a full recovery. Musk congratulated the team who carried out the operation, which concluded successfully on Tuesday afternoon.
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He will then go to meet the Queen at Windsor Castle, the family home of British kings and queens for nearly 1,000 years. On Friday evening, the President and the First Lady will travel to Scotland where they will spend the weekend.
Four more boys rescued from Thai caves
A family member told CNN Monday that they hadn't been told which boys had been pulled out, and who is still trapped in the cave. Thai officials have been tight-lipped about the rescue operation, and would not comment on how many people were removed Monday.
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Trump has continued to threaten Beijing with escalating tariffs on as much as $450 billion worth of Chinese goods. Soybean growers in the Midwest are caught in the middle of an escalating trade war between the US and China.
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