•   
  •   
  •   

MoneyChina exempts some U.S. goods from retaliatory tariffs as fresh talks loom

13:17  11 september  2019
13:17  11 september  2019 Source:   reuters.com

The world's biggest wealth manager just told clients to sell stocks — saying 'brace for higher volatility' from the trade war

The world's biggest wealth manager just told clients to sell stocks — saying 'brace for higher volatility' from the trade war "The threat to both the global economy and markets is clearly increasing," says UBS Wealth Management, which oversees more than $2.4 trillion.

The exemptions will apply to U . S . goods including some anti-cancer drugs and lubricants, as well as animal feed such as whey and fish meal, the Ministry China has imposed several rounds of duties on U . S . goods in retaliation against U . S . Section 301 tariffs , beginning last year in July and August with

Wednesday, September 11, 2019 China exempts some US goods from retaliatory tariffs as fresh talks loom | Sky UAE Finance #Sky_UAE_Finance.

China exempts some U.S. goods from retaliatory tariffs as fresh talks loom© Reuters/Aly Song Containers are seen at the Yangshan Deep Water Port in Shanghai

BEIJING (Reuters) - China announced its first batch of tariff exemptions for 16 types of U.S. products, days ahead of a planned meeting between trade negotiators from the two countries to try and de-escalate their bruising tariff row.

The exemptions will apply to U.S. goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish meal, the Ministry of Finance said in a statement on its website on Wednesday.

Beijing said in May that it would start a waiver program, amid growing worries over the cost of the protracted trade war on its already slowing economy.

Best Buy tanks after cutting its revenue forecast because of trade-war tariffs and 'general uncertainty' around consumer spending

Best Buy tanks after cutting its revenue forecast because of trade-war tariffs and 'general uncertainty' around consumer spending Despite missing analysts' expectations for quarterly revenue, the retailer beat profit expectations through cost-cutting and expanded margins.

China is removing some of the retaliatory tariffs it imposed on U . S . goods ahead of a fresh round of trade talks between the two countries. China announced its first batch of tariff exemptions for 16 types of U . S . products, days ahead of a planned meeting between trade negotiators from the two

BEIJING– China announced its first batch of tariff exemptions for 16 types of U . S . products, days ahead of a planned meeting between trade negotiators The exemptions will apply to U . S . goods including some anti-cancer drugs and lubricants, as well as the animal feed ingredients whey and fish

Some analysts view the move as a friendly gesture but don't see it as a signal that both sides are readying a deal.

"The exemption could be seen as a gesture of sincerity toward the U.S. ahead of negotiations in October but is probably more a means of supporting the economy," ING's Greater China economist Iris Pang wrote in a note.

"There are still many uncertainties in the coming trade talks. An exemption list of just 16 items will not change China's stance," she said.

Indeed, the exempted list pales in comparison to over 5,000 types of U.S. products that are already subject to China's additional tariffs. Moreover, major U.S. imports, such as soybeans and pork, are still subject to hefty additional duties, as China ramped up imports from Brazil and other supplying countries.

China calls US 'school bully' as trade war escalates

China calls US 'school bully' as trade war escalates China calls US 'school bully' as trade war escalates

China has imposed several rounds of duties on U . S . goods in retaliation against U . S . Section 301 tariffs , beginning last year in July and August with TALKS . Chinese Vice Premier Liu He, U . S . Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to meet in

BEIJING — China announced its first batch of tariff exemptions for 16 types of U . S . products, days China has imposed several rounds of duties on U . S . goods in retaliation against U . S . Section 301 TALKS . Wednesday’ s announcement comes before Chinese trade deputies are expected to meet

Beijing has said it would work on exempting some U.S. products from tariffs if they are not easily substituted from elsewhere. The United States is by far China's largest supplier of whey, which is an important ingredient in piglet feed and difficult to source in large volumes from elsewhere.

Analysts have noted that with duties on soybeans and other key imports such as U.S.-made cars, China is taking aim at a key political support base of U.S. President Donald Trump, mainly the factories and farms across the Midwest and South at a time of receding momentum in the world's top economy.

China has imposed several rounds of duties on U.S. goods in retaliation against U.S. Section 301 tariffs, beginning last year in July and August with a 25% levy on about $50 billion of U.S. imports.

In all, the world's two largest economies have slapped tit-for-tat tariffs on hundreds of billions of dollars worth of goods in a bitter trade war that has dragged on for well over a year and raised the specter of a global recession.

In escalating trade war, US consumers may see higher prices

In escalating trade war, US consumers may see higher prices WASHINGTON — The United States and China on Sunday put in place their latest tariff increases on each other's goods, potentially raising prices Americans pay for some clothes, shoes, sporting goods and other consumer items before the holiday shopping season. President Donald Trump said U.S.-China trade talks were still on for September. "We'll see what happens," he told reporters as he returned to the White House from the Camp David presidential retreat. "But we can't allow China to rip us off anymore as a country." The 15% U.S. taxes apply to about $112 billion of Chinese imports.

China on Wednesday announced its first batch of tariff exemptions for 16 types of U . S . products, including China has imposed several rounds of duties on U . S . goods in retaliation against U . S TALKS . Chinese Vice Premier Liu He, U . S . Trade Representative Robert Lighthizer and Treasury

U . S . President Donald Trump on Wednesday welcomed China ’ s decision to exempt some U . S . anti-cancer drugs and other goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods .

The items on the two tariff exemption lists - posted on the ministry's website - will not be subject to additional duties imposed by China on U.S. goods "as countermeasures to U.S. Section 301 measures", the ministry said in its statement.

The exemption will take effect on Sept. 17 and be valid for a year through to Sept. 16, 2020, it said.

ING's Pang noted the United States had also exempted imports of 110 Chinese products from tariffs in July, including high-value products such as medical equipment and parts.

TALKS

Wednesday's announcement comes before Chinese trade deputies are expected to meet with their U.S. counterparts in mid-September in Washington. That will be followed by highly-anticipated minister-level meetings in early October in the U.S. capital, involving Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.

China's trade with US shrinks as tariff war worsens

China's trade with US shrinks as tariff war worsens BEIJING — China's trade with the United States is falling sharply as the two sides prepare for more negotiations with no sign of progress toward ending a worsening tariff war that threatens global economic growth. Imports of U.S. goods fell 22% in August from a year earlier to $10.3 billion following Chinese tariff hikes and orders to companies to cancel orders, customs data showed Sunday. Exports to the United States, China's biggest market, sank 16% to $44.4 billion under pressure from punitive tariffs imposed by President Donald Trump in a fight over Beijing's trade surplus and technology ambitions. Beijing is balking at U.S.

China announced its first batch of tariff exemptions for 16 types of U . S . products, days Beijing has said it would work on exempting some U . S . products from tariffs if they are not easily substituted TALKS . Wednesday’ s announcement comes before Chinese trade deputies are expected to meet

and China , publishing a short list of products to be spared from retaliatory tariffs on American-made goods . exempt when tariffs are imposed on a host of American goods next week, China ’ s Ministry of “ China suspends Tariffs on some U . S . products,” he wrote. “Being hit very hard, supply chains Trade talks broke down in May, and a short time later the White House put Huawei on a blacklist that

Beijing and Washington were close to a deal last spring but U.S. officials said China backed away from an agreed text over a reluctance to change laws to address U.S. complaints.

The South China Morning Post reported https://bit.ly/2manJ5q, citing an unidentified source, that China was expected to buy more agricultural products in hopes of a better trade deal with the United States.

But senior White House adviser Peter Navarro tamped down expectations for the next rounds of trade talks, urging investors, businesses and the public to be patient about resolving trade dispute.

The Finance Ministry said it will consider more products to be exempted and will make further announcements "at appropriate times".

Earlier on Wednesday, a survey by a prominent American business association showed the trade war is souring the profit and investment outlook for U.S. companies operating in the world's second-biggest economy.

(Reporting by Se Young Lee, Judy Hua, Dominique Patton, Yawen Chen, Huizhong Wu; Writing by Yawen Chen; Editing by Shri Navaratnam)

Read more

Next Trump Tariffs May Soon Hit Europe’s Luxury-Goods Exporters.
Some of Europe’s top luxury brands are targeted in President Donald Trump’s latest tariff salvo, which could affect billions of dollars in exports of American-bound whiskeys, wine, Champagne, handbags and men’s suits. A panel of three World Trade Organization arbiters, as expected, said Friday the U.S. can legally impose tariffs on an array of European exports in retaliation for Europe’s illegal government aid to Airbus SE. EU sources say they expect the WTO arbiters to publicly circulate a report by month’s end that will allow new U.S.

—   Share news in the SOC. Networks

Topical videos:

usr: 1
This is interesting!