Trump slaps tariffs on $200 bln in Chinese goods

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

"The escalating US-China trade war will further weigh on Chinese export orders and business sentiment, particularly if no trade deal can be reached by the end of 2018", said Rajiv Biswas, Asia Pacific chief economist at IHS Markit in Singapore.

Then last month, the escalating trade war moved up a gear when the USA brought in a 25 percent tax on a second wave of goods worth $16b.

The tough talk follows reports China is deliberately reducing exports to the USA by slowing down customs approvals and stepping up environmental and other inspections.

"China has had many opportunities to fully address our concerns", Trump said in a statement released Monday evening by the White House.

Parker said the Government did not believe the effect of the tariffs on New Zealand - for example from more costly imported goods - would be large "and neither do we think there will be any large benefit to New Zealand". Apple Inc. said last month the proposed duties on $200 billion cover a wide range of products used in its usa operations.U.S. stock futures edged lower, Asian equities slumped and European shares fluctuated amid investor concerns a heightened trade war will crimp corporate profits and undermine economic growth.

The United States is ready to negotiate a trade deal with China whenever Beijing is prepared for serious talks that will reduce tariffs and eliminate non-tariff trade barriers, top White House economic adviser Larry Kudlow said on Monday.

"Tariffs have put the United States in a very strong bargaining position, with billions of dollars, and jobs, flowing into our country - and yet cost increases have thus far been nearly unnoticeable", Trump said on Twitter.

They also say USA economic growth and inflation are likely to have peaked this year, which could help to further turn the tide of market sentiment against the Dollar over coming months.

If the administration pursues what it calls "phase three" of the tariff strategy, it would raise the total value of affected Chinese goods to $517 billion - covering almost everything China sells the United States.

Trump ex-campaign head Manafort to cooperate in Russian Federation probe
In summary, he said later, this is a big victory for Mueller. "I have someone pushing it on the NY Post". Manafort served briefly as then-candidate Donald Trump's campaign manager in 2016.

The president has suggested, tariffs on a couple hundred billion dollars.

Officials from both countries have met four times for formal talks, most recently in August, when Treasury's undersecretary for worldwide affairs, David Malpass, led discussions in Washington with Chinese vice minister Wang Shouwen.

But, the official said, they will exclude some consumer electronics such as smart watches and Bluetooth devices as well as health and safety products such as high chairs, bicycle helmets, child vehicle seats and playpens. The escalation of Trump´s tariffs on China comes after talks between the world´s two largest economies to resolve their trade differences have produced no results.

"But, so far, China has been unwilling to change its practices", he said.

"Let's face it, nobody on either side has any idea how long this tariff war will last or where it will end up", said Rufus Yerxa, president of the National Foreign Trade Council. "The unilateral and hegemonic moves by the United States will meet firm countermeasures from China.China will not just play defense", the Global Times says.

China retaliated against the first round of tariffs in kind, hitting American soybeans among other goods. But it is unclear whether Beijing will agree to come to Washington with the new tariffs set to go into effect. Chinese officials have suggested that planned talks between trade delegations from both countries will now not go ahead. But Chinese officials have other ways of making the U.S. hurt, including by harassing American multinationals with tax audits and customs inspections or even mobilising consumer boycotts against them.

After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property? such as forcing United States companies to transfer technology to Chinese counterparts, he said.

Countries such as New Zealand that stood up for "dependable rules-based systems" needed to engage with the Trump administration more, he said.

Related news:

Hot News

isis-killer-beheading-video-story-top Jurgen Klopp unsure about Roberto Firmino availability
Sep 18, 2018 - 09:47
Kylian Mbappe? Come on! "I remember when I was there, it was hard to get in the Champions League for us", he added. Liverpool boss Jurgen Klopp is ready to turn to Daniel Sturridge for their Champions League opener against PSG.

isis-killer-beheading-video-story-top May tells rebels - It's my Brexit deal or no deal
Sep 18, 2018 - 09:28
Mr Johnson has always been critical of Mrs May's Chequers plan, resigning in July alongside then-Brexit Secretary David Davis. The IMF said there was a "daunting" range of issues still to be dealt with before Brexit.

isis-killer-beheading-video-story-top Apple releases iOS 12 with a range of new features and upgrades
Sep 18, 2018 - 07:38
To install watchOS 5 , open the Watch app on your iPhone , go to My Watch General Software Update , and tap Download and Install . And while older iPhone users have been wise to avoid newer operating systems in recent years, iOS 12 is kind to older phones.

isis-killer-beheading-video-story-top Hurricane Florence deluges Carolinas ahead of Friday landfall
Sep 18, 2018 - 07:30
Boarding up his home in Myrtle Beach, South Carolina , Chris Pennington watched the forecasts and tried to decide when to leave. Water kills more people in hurricanes than wind, and the rain and storm surge will make Florence extremely unsafe .

isis-killer-beheading-video-story-top Man killed in MA shark attack, first since 1936
Sep 17, 2018 - 11:05
Newcomb Hollow Beach has been closed to swimmers. 'The inshore waters off Wellfleet are a feeding ground for Great White Sharks. Arthur Medici , 26, of Revere, Massachusetts , was given first aid, including CPR, but died at Cape Cod Hospital in Hyannis.

isis-killer-beheading-video-story-top 'Absurd' to accuse Russian Federation of lying about spy poisoning
Sep 17, 2018 - 10:33
James Slack, spokesman for British Prime Minister Theresa May , derided their claims as " lies and blatant fabrications ". It would hardly be the first time Russian propaganda outlets have weaponised sexuality for disinformation campaigns.

isis-killer-beheading-video-story-top Naby Keita’s display for Liverpool against Tottenham showed room for improvement
Sep 17, 2018 - 09:36
Firmino found the back of the net very early in the game, but his effort was ruled out for offside. Liverpool's Roberto Firmino , holds a patch over his eye after it was scratched.

isis-killer-beheading-video-story-top US Border Patrol Agent Charged With Murdering 4 in Killing Spree
Sep 17, 2018 - 09:18
It was originally believed that Ortiz had murdered three women and one man, but it turned that was actually a transgender woman. Juan David Ortiz , 35, was arrested early Saturday after he was found hiding in a truck parked outside a Laredo hotel.

isis-killer-beheading-video-story-top Asian stocks rise on possible US-China talks amid tensions
Sep 17, 2018 - 07:09
The escalating trade spat between Washington and Beijing has generated turbulence in global markets. Washington's invitation for trade talks received a thumbs-up from Beijing.

isis-killer-beheading-video-story-top Josh Gordon Told Teammate He Would Strongly Consider Playing for Jags
Sep 17, 2018 - 05:59
While Gordon has had his personal troubles, the release from the Browns reportedly was not due to a substance abuse issue. With Gordon gone, the Browns' passing game will rely more heavily on wide receivers Jarvis Landry and Rashard Higgins .

isis-killer-beheading-video-story-top Erdogan and United Nations warn of human catastrophe in Idlib
Sep 15, 2018 - 15:58
On Monday, its humanitarian chief made an urgent appeal. Pockets of the province remain under ISIS control. Meanwhile the bombs keep falling.

isis-killer-beheading-video-story-top Unai Emery insists Mesut Ozil relationship remains strong
Sep 15, 2018 - 12:13
Things like that can happen in every game, and that's why football is so hard . Asked about his tactics today, Benitez said: "Every game is different".

isis-killer-beheading-video-story-top Puerto Rico hurricane death toll inflated by Democrats, claims Trump
Sep 14, 2018 - 18:12
But politics aside, FEMA says it learned from its shortcomings in responding to Maria and other disasters previous year . Mr Gutierrez, who is of Puerto Rican heritage, was involved in the United States territory's recovery operation.

isis-killer-beheading-video-story-top Gary Neville Makes Huge Claim on Liverpool's Champions League Ambitions This Season
Sep 14, 2018 - 17:45
The head coach added: "Of course he's the first that regrets everything, and all that happened yesterday is not good". Their summer signings have boosted morale even further and they will be quietly confident of taking City all the way.

isis-killer-beheading-video-story-top Djokovic crushes Del Potro in one-sided final
Sep 14, 2018 - 17:22
Novak Djokovic defeated Juan Martin Del Potro 6-3 7-6 (7-4) 6-3 to win his third US Open title in NY . Novak Djokovic of Serbia reacts during his U.S. men's singles finals against Juan Martin del Potro .