Trump makes good on threat - $200 billion in new tariffs on China

11 July, 2018, 04:21 | Author: Mary Valdez
  • Soybean prices have fallen dramatically in recent weeks.
Daniel Acker  Bloomberg

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on. The list covers some $200 billion in Chinese exports that could be hit by a 10 percent tariff. Another source who is familiar with the situation confirmed the Bloomberg report to Reuters.

The Trump administration on Tuesday announced a package of tariffs targeting Chinese exports valued roughly at $200 billion.

The United States began imposing tariffs on US$34 billion in Chinese goods at 12:01 a.m. (0401 GMT) on Friday. "This action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

"For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", he said in a statement.

"Tonight's announcement appears reckless and is not a targeted approach", Senate Finance Chairman Orrin Hatch (R-Utah) said in a statement.

Netflix adds smart download management for offline content
Users will also be able to toggle the feature from the App Settings by tapping the Menu icon and selecting App Settings . The app for both iOS and Android, however, is absolutely free, and you can grab it from the links below.

Johnny Depp Is Being Sued For Allegedly Punching Crew Member On Set
Months after a director denied that Johnny Depp attacked a film crew member, the actor is being sued for the alleged assault. IndieWire has reached out to Depp's representative for comment, but at the time of writing there was no response.

Liverpool boss Jurgen Klopp breaks silence on Loris Karius’ blunders
If that's not possible then we will weigh up the options and go from there. He has not featured for Liverpool since May 2015.

The move comes just days after the United States and China imposed tit-for-tat tariffs of $34bn on the other countries' goods. China immediately retaliated with duties on the same value of US goods, including soybeans and cars.

The US is planning to implement 25 per cent tariffs on a further $US16 billion worth of Chinese imports within the next fortnight. High-level talks between the two countries starting in May failed to deliver a breakthrough to head off a trade war.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

The new duties are "a reckless strategy that will boomerang back to harm USA families and workers", said David French, the National Retail Federation's senior vice president for government relations.

The president of the European Union Chamber of Commerce in China, Mats Harborn, said Tuesday one of its members moved final assembly of goods for the American market from China to a newly created USA company. But Mr Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers.

Recommended:

  • Trump To Name His Second Supreme Court Pick

    Trump To Name His Second Supreme Court Pick

    But with only 49 votes in the Senate, Democrats have few tools to work with. Kavanaugh once served as a Supreme Court clerk under Kennedy.
    How President Trump’s Supreme Court Pick Could Change the U.S.

    How President Trump’s Supreme Court Pick Could Change the U.S.

    Though the challenge by the plaintiff, an atheist opposing the prayers, was dismissed, Kavanaugh said he did have standing to sue. Indeed, Vox points out, CNN's Jim Acosta reported that the Trump team reviewed these comments by Kavanaugh before choosing him.
    More than 200 sickened in Del Monte vegetable outbreak

    More than 200 sickened in Del Monte vegetable outbreak

    Those affected have been diagnosed with cyclosporiasis , an intestinal infection caused by the cyclospora parasite. Although the illness can be treated with antibiotics, symptoms can last from a few days to a few months.
  • Harry and Meghan due in Dublin for two-day visit

    Harry and Meghan due in Dublin for two-day visit

    The royal couple with also meet with young people interested in coding when they visit the startup hub Dogpatch Labs in Dublin 1. Harry and Meghan later joined royals at a Buckingham Palace reception to mark the centenary of the Royal Air Force.
    Last Day: Free Fortnite Skin And Loot From Amazon/Twitch Prime

    Last Day: Free Fortnite Skin And Loot From Amazon/Twitch Prime

    The much-awaited Amazon Prime Day sale is here, and the company is all set to host its 2nd Amazon Prime Day Sale in India. Why Should I Join Amazon Prime? It's the first year that Prime Day has occurred with Whole Foods under Amazon's wing.
    Miracle Rescue In ThailandMiracle Rescue In Thailand

    Miracle Rescue In ThailandMiracle Rescue In Thailand

    Initial euphoria over finding the boys alive quickly turned into deep anxiety as rescuers struggled to find a way to get them out. On Friday, officials warned that oxygen levels in the cave dropped from 21% to 15%, further complicating rescue efforts.
  • Thai cave rescue sees four more boys freed

    Thai cave rescue sees four more boys freed

    Momentary celebrations quickly gave way to rising anxiety as it became clear that the rescue would necessarily be highly risky . Two British divers found them nine days later huddled on a muddy ledge in pitch darkness more than 4km inside the cave system.
    8 boys freed from Thai cave; rescuers working to save 5 others

    8 boys freed from Thai cave; rescuers working to save 5 others

    This, he added, was made possible by the involvement of more rescuers and the experience gained the day before. British divers found the 13 a week ago. "We heard four boys are out but we do not know who they are".
    4 more boys brought out of flooded Thai cave

    4 more boys brought out of flooded Thai cave

    But bringing out the remaining four boys and their coach could take more than one operation, Narongsak warned. Thai army soldiers return from Tham Luang cave on day three of the rescue operation.
  • Four things we learned from the World Cup quarter-finals

    Four things we learned from the World Cup quarter-finals

    The teams have not met since qualifying for the 2010 World Cup , when England won 4-1 in Zagreb and 5-1 at Wembley Stadium. Croatia has never made the Euro semifinals. "Now is the time and hopefully we can achieve a similar result", Perisic said.
    Trump's ex-lawyer fires what could be a warning shot

    Trump's ex-lawyer fires what could be a warning shot

    This comes after the New York Times reported on Friday that Trump's team set new parameters for a voluntary meeting with Mueller. But in the ABC interview, he said he couldn't comment on advice of his lawyer.
    DHS Refuses to 'Reunite' Children with Adults Who Aren't Their Parents

    DHS Refuses to 'Reunite' Children with Adults Who Aren't Their Parents

    The government has said only 3 of the children had accompanying adults that were found to not be their parents. For the parents and children who have been brought back together, thecelebrations may be short-lived.


Popular

George Clooney injured in auto accident, reports
Director George Clooney is interviewed at the premiere for "Suburbicon" in Los Angeles, California, U.S., October 22, 2017. Clooney is a frequent visitor to Italy and even has a home in the northern part of the country, at Lake Como .

Survivor of DE horror crash says his seat belt saved his life
A GoFundMe page has been set up to help with medical expenses for Mary Rose Trinidad and funeral arrangements for her family. Hubbard Jr. from East New Market, Maryland , was treated and released from the hospital with non-life-threatening injuries.

U.K. Opens Murder Probe After Woman Exposed to Nerve Agent Dies
Former double agent Sergei Skripal, 66, and his daughter Yulia, 33, are found unconscious on a bench in Salisbury on Mar 4. The next day Britain's interior minister Sajid Javid says Moscow needs to explain itself over the use of the toxic agent.

Rockets determined to sign Carmelo Anthony
Some fans might not want Anthony in Houston , but the Rockets should definitely sign him under these three conditions. Anthony will likely become a free agent this offseason as he works towards a buyout with the Oklahoma City Thunder .

Royals join RAF celebrations at Westminster Abbey
While attending Prince Louis' christening , big sister Princess Charlotte gave photographers a sassy message and a stare-down. Accompanying the duchess was Prince William , who held Princess Charlotte and Prince George by the hand.

Gareth Southgate's waistcoat set for a place in history
Croatia's best previous World Cup run dates back 20 years to 1998, when they lost in the final four to eventual winners France . Prediction France have improved after a slow start in the group stages where they made hard work of Australia and Peru.

Young urges caution ahead of World Cup semi-final
In total the two sides have played each other seven times , with England notching four wins to Croatia's two. Midfielder Luka Modric is Croatia's top scorer in the tournament with two goals.

George Clooney injured in bike accident
His wife, Amal , rushed to her husband's side at the hospital, and left with the superstar after his injuries were deemed minor. Clooney, 57, is serving as director and executive producer on the project, and also plays the role of Scheisskopf.

Trump administration threatened Ecuador over its support of breastfeeding resolution
It was only when Russian Federation introduced the resolution that American officials backed off. The New York Times report mirrored sweeping and unattributed claims from activist groups .

George Clooney hurt in motorcycle crash in Italy
The crash reportedly went down just after 8:00 a.m. - local time - when a auto cut across the path George was taking on the road. He is understood to have received treatment at John Paul II hospital, but NBC News report that he has since been discharged.