Money: Trump retaliates against China, says the US will hike tariffs on imports - PressFrom - United Kingdom
  •   
  •   

MoneyTrump retaliates against China, says the US will hike tariffs on imports

05:05  24 august  2019
05:05  24 august  2019 Source:   msn.com

U.S.-China Trade Battle Is Crimping Global Oil Demand

U.S.-China Trade Battle Is Crimping Global Oil Demand Worries about the health of the world’s economy and increasingly uncertain trade relations between the U.S. and China will put further pressure on global oil demand in 2019, the International Energy Agency said.

Responding to US president’s tariffs on steel and aluminium, China targets 120 US products including a 25 Trump gave us a heavy shot, and China is giving a light shot back,” said Shi Yinhong, director of the US Still, some in China are calling for stronger retaliatory measures on soybeans and other

Beijing retaliated for previous tariff hikes by raising duties on 0bn of US imports . Chinese officials have also targeted US companies by slowing customs In China , state media said the door to talks was always open but China would not yield on important issues of principle. In a commentary carried

Video by Fox Business

The Trump administration said on Friday it would hike tariffs on China, adding to a rapid series of trade escalations between the world's largest economies.

President Trump tweeted that tariffs on the $250 billion of imports already in place will be raised to 30% from 25% on Oct. 1. He also said the remaining $300 billion of imports set to go into effect on Sept. 1 will be taxed at 15%, rather than 10%.

Hours before the announcement, China vowed to retaliate if the US were to follow through with plans to expand duties to virtually all of its products in the coming months. President Donald Trump swiftly hit back on its pledge to slap new tariffs on roughly $75 billion worth of American imports and to reinstate levies on vehicles.

China announces retaliatory tariffs on US products

China announces retaliatory tariffs on US products Details are yet to emerge about which products will be subjected to the charges.

BEIJING — China moved to retaliate against the United States , announcing plans on Monday to raise Last September, China had matched President Trump ’s 10 percent tariffs on 0 billion a year China ’s tariff increases on Monday included raising the tariff on liquefied natural gas imports

President Trump , addressing new tariffs China has imposed on some US goods, said the US will allocate funds to help farmers, who he alleged China is retaliating against . "And out of the billions of dollars that we ’re taking in, a small portion of that will be going to our farmers, because China will be

"They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won't let that happen!" Trump wrote in a string of enraged tweets Friday. "We don't need China and, frankly, would be far........better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP."

Both sides have said tariff escalations would take effect in two stages, first on September 1 and then on December 15.

Trump retaliates against China, says the US will hike tariffs on imports © REUTERS/Kevin Lamarque Trump on Friday also ordered private American companies "to immediately start looking for an alternative" to doing business with China, though that demand appeared to carry no legislative weight. He added that the Post Office, FedEx and Amazon must search packages for fentanyl from China.

Trump: G7 summit going 'very well' despite trade tensions

Trump: G7 summit going 'very well' despite trade tensions BIARRITZ, France (AP) — President Donald Trump disputed reports Sunday that he faces a tense reception from world leaders at the Group of Seven summit in France, as they meet amid mounting anxiety of a global economic slowdown. Trump is trying to use the summit to rally global leaders to do more to stimulate their economies, as fears rise it could soon affect the U.S. ahead of his re-election. But his counterparts, including British Prime Minister Boris Johnson are trying to convince him to back off his trade wars with China and other countries, which they see as contributing to the economic weakening. © Provided by The Associated Press U.S.

U . S . President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he Trump lifted tariffs to 25% from 10% on 0 billion worth of Chinese imports last week. White House National Economic Council director Larry Kudlow said in an interview on Sunday that "both

U . S . President Donald Trump on Monday warned China not to retaliate against a hike in tariffs he Trump lifted tariffs to 25% from 10% on 0 billion worth of Chinese imports last week. White House National Economic Council director Larry Kudlow said in an interview on Sunday that "both

The flurry of trade escalations on Friday jolted financial markets, which were already under pressure after a key recession warning flashed last week. In addition to slower growth abroad, investors have grown increasingly concerned about existing tariffs on roughly $350 billion worth of American and Chinese products.

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin have struggled for more than a year to get China to change practices said to put American companies at a disadvantage, such as intellectual property theft and the forced transfer of foreign technology. Trump has separately sought to penalize President Xi Jinping for halting purchases of American agricultural products.

The White House has acknowledged in recent weeks that tariffs could begin to hurt the economy, at one point delaying a portion of tariffs so as to not interfere with the holiday shopping season. Yet it has at the same time downplayed concerns about a potential downturn and sought to place blame for any trouble in the economy on the Federal Reserve.

Trump Says China Wants to Talk After Hectic Tit-for-Tat Weekend

Trump Says China Wants to Talk After Hectic Tit-for-Tat Weekend Trump Says China Wants to Talk After Hectic Tit-for-Tat Weekend

China expected to announce retaliatory tariffs on the US . Beijing has a host of options to retaliate against the latest the hike in U . S . tariffs on Chinese imports , experts said on Monday. As well as inciting Trump 's wrath, a weaker currency would also risk triggering capital outflows and damage

China 's Commerce Ministry said it would take countermeasures against the American tariff hike . It did not announce what its response would entail but said it "deeply regrets" Beijing has a host of options to retaliate against the latest the hike in U . S . tariffs on China imports , experts said on Monday.

Trump and administration officials have repeatedly directed the independent central bank to slash interest rates by up to a full percentage point, a move that would typically signal significant trouble in the economy. The president portrayed Jay Powell, his handpicked chairman of Fed, as an "enemy" on Friday after he signaled policymakers would not make that aggressive of an adjustment.

"As usual, the Fed did NOTHING!" Trump wrote. "It is incredible that they can "speak" without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work "brilliantly" with both, and the U.S. will do great.......My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"

Explore the issues faced by the UK’s most vulnerable children and young people this summer and discover what you can do to help.​​


How Trump’s trade war with China is hurting Apple.
Tech giant says new US import tariffs on gadgets including Apple Watch and AirPods will give rival Samsung an unfair advantage

—   Share news in the SOC. Networks

Topical videos:

usr: 2
This is interesting!