China threatens tariffs on United States lobsters as business booms
16 June, 2018, 22:09 | Author: Brooke Harris
President Donald Trump moved closer to an all-out trade war with China on Friday by announcing new 25 percent tariffs on $50 billion worth of technology imports, dealing a blow to Chinese industries and prompting retaliation against US products.
The White House placed the tariffs on $50 billion worth of Chinese imports to punish intellectual property crime and other unfair trade practices that the administration blames for a large trade deficit.
Trump said in a statement that the United States would pursue additional tariffs if China retaliates.
The Chinese government has chose to impose additional duties of 25 per cent on 659 items of US products worth about Dollars 50 billion, state-run Xinhua news agency reported.
The Commerce Ministry said: "China does not want a trade war".
Trump's first announced that the U.S. would impose trade penalties on about $50 billion of Chinese goods in March. According to the World Trade Organization, the president is correct.
The implementation date for imposing additional tariffs on the remaining 114 items, covering chemical products, medical equipment and energy products will be announced later, it said.
Additional tariffs for 545 items worth about United States dollars 34 billion including agricultural and aquatic products, and vehicles, will be effective from July 6, 2018, a statement issued by China's Customs Tariffs commission said.
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"Not only have they damaged their reputation and credibility, but they've also let China see how rude, unreasonable, selfish and impulsive the Trump administration is", the newspaper said in an editorial on Saturday. The president has been threatening tariffs against China since USA officials concluded that Beijing abuses American intellectual-property rights.
China's Commerce Ministry said it would respond with tariffs "of the same scale and strength" and that any previous trade deals with Trump were "invalid".
"While obviously more details are needed, this outline represents the kind of actions we have needed to take for a long time", Schumer said then, "but the president must stick with it and not bargain it away".
"It is in the interest of both countries to come to the table around a negotiated solution such as a responsible trade agreement". "We will be outlining our concerns with the USTR about how these new tariffs will jeopardize this industry". The tariffs are also meant to punish China for cyberespionage, theft of USA companies' trade secrets and theft of intellectual property, like patents.
In currencies, the US dollar slipped against the safe-haven yen in the wake of the announced tariffs, while the dollar index, which measures the greenback against six currencies, rose 0.01 percent.
An old Wall Street saw says "Buy on the sound of cannons, sell on the sound of trumpets", meaning stock traders see wars as buying opportunities. It authorizes the U.S. President to impose tariffs when it is in the interest of American "national security". In the statement, Trump said those measures would be implemented only if the Chinese strike back at Friday's move.
Russian authorities have promised to host a safe World Cup tournament, which is taking place in 11 cities until 15 July. The accident took place on Ilinka Street, around 200 metres from Red Square and Moscow's famous GUM shopping centre.
Rolls-Royce has traditionally operated a large corporate centre with overlapping activities between individual business units. Overall, Rolls has 55,000 employees worldwide, of whom 26,000 are in the United Kingdom , with 15,700 of those in Derby.
Israel and Hamas have fought three wars in Gaza and the United Nations has warned that a fourth conflict could be easily ignited. The US, Israel, Australia, Marshall Islands, Micronesia, Nauru, Togo and the Solomon Islands voted against the measure.
The United States and DPRK will join their efforts to build a lasting and stable peace regime on the Korean Peninsula. We're going to take care of a very big and risky problem for the rest of the world.
According to the station, the shooting took place around 11:15 a.m.in the area where police escort suspects into the courthouse. The building is used for juvenile court, but Blair says it is unknown whether the suspect is a juvenile or an adult.
People with "religious affilications" live four years longer than people who agnostic of atheistic, a new study has found. A second study examined 1,096 obituaries from 42 major cities that were published between August 2010 and August 2011.
Beijing outlined plans to increase tariffs on $50 billion of American products like meat, whiskey, planes, cars and soybeans. The Trump administration is moving forward with its plans to implement tariffs on Chinese goods coming into America.
The researchers looked at the three major Antarctic areas: East Antarctica, West Antarctica and the Antarctic Peninsula. Worryingly, the paper demonstrates that the rate of ice loss has tripled in recent times .
Argentina 1 - 1 Iceland | 16 Jun 2018
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