China to slap additional tariffs on US$16 bln of USA goods
12 August, 2018, 13:50 | Author: Billie Castillo
In order to safeguard its legitimate rights and interests and the multilateral trading system, China is obliged to take necessary counter-measures and has opted to impose a 25 percent tariff on 16 billion dollars' worth of United States imports, to be implemented in parallel with the US.
The percentage also beat the Reuters poll of 10%.
A combination of higher crude prices and changes in government taxes have been blamed for the weak growth in crude imports, and these factors have certainly tilted the playing field against smaller refiners.
The People's Daily of China, the official mouthpiece of the Chinese Communist Party, hinted in an op-ed today that Beijing would be wise to make it hard for Apple to do business there.
The world's two biggest economies are locked in a trade dispute over Washington's charges that China uses predatory tactics in a drive to supplant USA technological supremacy.
"Today's trade data don't show any significant impact from the first round of US tariffs", said Julian Evans-Pritchard of Capital Economics in a report.
China's Ministry of Commerce retaliates against USA tariffs on Chinese imports.
The US and China are dependent on each other for the supply of pharmaceutical products.
Depending on how long the trade war lasts, the 25% tariff on US LNG imports could also eventually hurt US shale gas production, because the US needs the Chinese market for its increasing LNG exports and China today is one of few markets with a strong appetite for US exports. Wednesday's trade figures showing surging Chinese exports could give Beijing some confidence. Chinese state media has hit back at the U.S.in light of the levies that have been threatened, saying the Asian nation would retaliate.
These include 279 products ranging from motorbikes to railway carriages. Last year, the United States exported $37.3 million of hog sausage casings to China. While this tariff threat has been put on hold following talks between Trump and European Commission president Jean-Claude Juncker last month, it has not be removed.
"Sales at 50 major Chinese retailers fell by 3.9 percent in July from a year earlier, raising concerns over whether Beijing can push through its plan to ramp up domestic consumption to offset the effects of the intensifying US-China trade war".
The potential global impact of the escalating U.S. trade war has been highlighted in a report issued this week by Oxford Economics before the latest measures were announced.
"People really need to get used to a world with tit-for-tat tariffs in place between the two largest economies", said Wendy Cutler, a former U.S. trade negotiator.
Google is blocking the World Socialist Web Site from search results.
Maddison had a strong season in the Championship with Norwich but will be making his Premier League debut on Friday. Pogba scored for France in July's World Cup final and will hope to transfer his worldwide success to United.
The meteor shower will peak overnight into Monday, with 70 meteors visible each hour, according to the Royal Astronomical Society. Locally, Natural Bridge is offering an opportunity to watch the meteor shower between 8:30 p.m. and 10:00 p.m.
Space Command - as well as a Space Operations Force and a new joint organization called the Space Development Agency . In a speech at the Pentagon, the vice president also announced plans to establish a new combatant command - U.S.
Partial solar eclipses can be very risky to look at with the naked, eye, accordion to the American Astrological Society (AAS). And flanking that lunar eclipse (two weeks before, and now two weeks after) are two partial eclipses of the sun.
Huddersfield fans will have felt the half-time score was harsh, but Chelsea set about extending their lead after the restart. But it's either Morata or Olivier Giroud after Chelsea failed to sign a striker in the summer transfer window.
Those birdies after his big blunder stood out to Finau, one of only 11 players to make the cut in all four majors this year. Woodland had a four-under 66 and set the PGA Championship record with a 36-hole score of 130.
Mr Skripal and his daughter recovered after intensive care in hospital, and their current whereabouts are being kept secret. Those could include denying Russian airlines landing rights in the United States and even severing diplomatic relations.
The second session will be vital with India still looking to get early wickets to keep England's first-innings lead to a minimum. What's done is done, though, and India will look for a disciplined bowling performance to get back into the game.
Pujara and Kohli were involved in a run out which led to Pujara's wicket and turned the match in England's favour. While left-arm spinner Kuldeep Yadav and Ravichandran Ashwin may play a key role to trap Englishmen.
Maryland places head football coach DJ Durkin on leave
Durkin, and expect that the investigation into the program will be wide-ranging and thorough", Hogan said in a statement . The sources also revealed allegations of unhealthy eating habits and using food punitively against the players.
Pique and Sergi Roberto named as new Barcelona captains
Legitimising Barca's claim to nurturing talent over heavy expenditure, all four players are graduates of the famed La Masia . Barcelona have confirmed that Lionel Messi will replace Andres Iniesta as the club's captain for the new season.
House of Fraser bought by Mike Ashley's Sports Direct
However, the chain announced earlier today that it was calling in the administrators in a further bid to try and save the company. House of Fraser, meanwhile, assured that its offices and stores will continue operating while they attempt to reach a deal.