Trump's Trade War Officially Begins - Hit & Run

U.S. cargo ship carrying soybeans in race to beat China's retaliatory tariffs

But U.S. stocks edged higher on Thursday, lifted by technology shares, amid hopes that American trade tensions with Europe may ease after German Chancellor Angela Merkel said she would back a reduction of European vehicle tariffs if Washington abandons its threatened higher auto levies.

Beijing insists it's the injured party.

The statement reads, "China promised not to fire the first shot, but to defend national core interests and the interests of the people it has no choice but to strike back as necessary".

A trade deficit is where a country's imports exceed its exports.

Trump has for years slammed what he describes as Beijing's underhand economic treatment of the United States, with the U.S. trade deficit in goods with China ballooning to a record $375.2 billion last year.

"This will impact growers coast to coast", Grondine said.

The North American Food Equipment Manufacturers: The tariffs could even trickle down to the cost of fast food, Charlie Souhrada, a vice president of the North American Food Equipment Manufacturers, told The Associated Press.

The big question is how far the hostilities between Washington and Beijing will go.

In this context, the trade face-off smacks of a struggle between the G2 countries for economic hegemony over the global market. "American spirits exports to China have grown by nearly 1,200%, from $959,000 in 2001 to $12.8 million in 2017".

"We strongly urge the administration to abandon its plans for tariffs on another US$200 billion in Chinese imports, which would destroy thousands of American jobs and raise prices on virtually everything sold in our stores", Shay said.

England’s Fabian Delph ready to miss a game to be at birth
England midfielder Fabian Delph has no qualms over putting his World Cup dreams on ice if his wife goes into labour with the couple's third child.

"We just want what we had before", he said. Soybeans to be loaded in August at the nation's Paranagua port fetched $2.21 a bushel more than Chicago futures as of Friday, the widest gap since data starts in 2014.

That would bring the total of targeted Chinese goods to potentially $550 billion, which is more than the $506 billion in goods that China actually shipped to the United States previous year.

The White House has not yet commented on China's retaliatory measures, although William Zarit, chairman of the American Chamber of Commerce in China, appealed in a statement to both sides to negotiate a settlement.

The LSU Ag Center expects South America, particularly Brazil, to capture the majority of the market-share of US soybean exports into China.

A solid pickup in hiring by U.S. employers last month also helped keep investors in a buying mood.

A trade dispute between the USA and China escalated on Friday, but Wall Street focused on a solid jobs report instead. Trump has added to the tension by threatening new tariffs on cars. "I think products made in China are the best", said one shopper in a Beijing grocery story, who gave his name as Yang.

"There are winners and losers in every trade war", said the Iowa Soybean Association. The damage could also spread to other economies, hurting business confidence and prompting companies to delay investments. Trump has declared trade wars as "easy to win" and bet the skirmish will prompt American companies to return operations to the US. "At that point, the United States will be more interested in negotiations, and the Chinese side will also want to come to the table".

Chinese goods being hit by United States levies include cars, computer disk drives, pump and valve parts and LEDs.

In addition, tit-for-tat tariffs between the United States and China are very likely to bring negative impacts on the Japanese economy, the scholar said.

Related news:

Hot News

isis-killer-beheading-video-story-top Death Toll Rising In Canada Heat Wave
Jul 09, 2018 - 05:31
The heat wave is expected to end by Thursday evening with temperatures between 23 and 25 degrees Celsius over the next few days. The rest of the deaths occurred in other parts of the French-speaking province.

isis-killer-beheading-video-story-top Fernandinho receives death threats & racist abuse in wake of Brazil exit
Jul 09, 2018 - 04:46
England face Croatia in the tournament's other semi-final clash after they advanced by easing past Sweden 2-0 in the last eight. Thomas Vermaelen also spoke with the media at a news conference on Sunday and is expecting a hard match against the French.

isis-killer-beheading-video-story-top Woman Dies After Exposure to Soviet-Era Nerve Agent in England
Jul 09, 2018 - 04:13
Dawn Sturgess, from Durrington, died at Salisbury District Hospital earlier this evening, the Meteropolitan Police said. Hours later, emergency workers responded to the same address after the 45-year-old man had fallen ill, police said.

isis-killer-beheading-video-story-top Donald Trump urged to avoid controversial Supreme Court pick
Jul 09, 2018 - 03:30
On Sunday there was no indication that he had yet made his decision, as speculation continued to swirl around the appointment. Democrats and pro-abortion groups stepped up their rhetoric on Sunday over the danger of Trump's second pick.

isis-killer-beheading-video-story-top England’s Stones happy to send ‘dirtiest team’ Colombia home from World Cup
Jul 07, 2018 - 03:32
But Stones made a nonsense of Maradona's allegations, saying: "I'd never seen a game like that before and how they behaved". England took the lead early in the second half with Harry Kane successfully converting a penalty .

isis-killer-beheading-video-story-top Defending champ Joey Chestnut sets record with 74 hot dogs
Jul 07, 2018 - 03:25
NY native and defending champion Miki Sudo chomped down 37 hotdogs and buns, making her a five time victor of the women's contest. She described her performance as one she'd to improve upon in the future, but Sudo would be the first to admit "a win is a win".

isis-killer-beheading-video-story-top Trump Believes Jim Jordan ‘100%,’ Among ‘Most Outstanding’ in D.C.
Jul 07, 2018 - 03:19
The law firm Perkins Coie was hired to probe Strauss's behavior at Ohio State, where he joined the clinical faculty in 1978. He said the fraud case has nothing to do with what he went through as a student-athlete.

isis-killer-beheading-video-story-top Wimbledon -- Men's third-round matches
Jul 07, 2018 - 02:29
Serena Williams and seventh-seeded Czech Karolina Pliskova both won on Friday to avoid this year's surprising cull of favourites. The 36-year-old American now can not meet a top 32 player until the semi-finals after the scattering of the seeds this week.

isis-killer-beheading-video-story-top Three suspects charged in 2017 Los Angeles kidnapping of actors
Jul 05, 2018 - 08:16
Three people have been indicted in the kidnappings of actor Joseph Capone and " Halloween: Ressurrection" star Daisy McCrackin . Stewart also cut and disabled Capone's tongue, "put out an eye", and cut his nose, ear and lip, according to the indictment.

isis-killer-beheading-video-story-top Election of new Mexican president adds uncertainty to future of NAFTA talks
Jul 05, 2018 - 08:01
Trump started applying freakish restrictions, tariffs under the guise of national security, which is, of course, ludicrous. Some have already launched retaliatory measures and filed legal challenges with the World Trade Organization.

isis-killer-beheading-video-story-top Man Utd boss Mourinho unimpressed by 'diver' Maguire in England triumph
Jul 05, 2018 - 04:49
La Celeste are 14/1 to win the tournament and 10/3 to beat France , who are evens to win on Friday, while the draw is 21/10. Manchester United boss Jose Mourinho has taken aim at England's players after they reached the World Cup quarterfinals.

isis-killer-beheading-video-story-top 'Beautiful' Willian wins praise from Brazil coaches
Jul 05, 2018 - 03:52
Neymar scored one and assisted the other as Brazil ran out 2-0 winners, making it through to the quarter-final stage. Cutting out the play-acting would also help Neymar win votes, 1990 World Cup victor Lothar Matthaeus said Wednesday.

isis-killer-beheading-video-story-top Trump, Putin set for Helsinki Showdown July 16
Jul 04, 2018 - 02:35
In Moscow, Russian Foreign Ministry spokeswoman Maria Zakharova said it was best not to get too excited about what the summit might yield.

isis-killer-beheading-video-story-top India make two changes for England tour
Jul 04, 2018 - 02:31
Subsequently, India won both the ODI and T20I series. "Because we don't get to play so much cricket here before we come on tour". On the bowling front, Jasprit Bumrah's thumb injury will be a concern as he has played a big role with his death overs bowling.

isis-killer-beheading-video-story-top Richard Swift has died, aged 41
Jul 04, 2018 - 02:14
In June, a GoFundMe campaign was started to help Swift with medical costs for an undisclosed life threatening medical condition. Nevertheless, we send out our condolences to Swift's friends, family, fans, and former bandmates in this hard time.