'We are not in a trade war with China,' says Donald Trump

05 April, 2018, 01:22 | Author: Martin Tyler
  • Sight for Sore Eyes       The start of April may be a welcomed change for Asian investors after a rocky March              Source Bloomberg

Traders and financial professionals work on the floor of the New York Stock Exchange ahead of the opening bell, April 4, 2018 in New York City.

A MOC spokesperson made the statement after the US administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion USA dollars with a suggested tariff rate of 25 percent.

China has raised tariffs on $50 billion of US goods including soybeans, aircraft and automobiles in response to Washington's increased duties on Chinese goods in a technology dispute. Indeed, over the past eight years, Chinese credit to the non-government sector has increased by more than 90 percent of GDP.

Hopes that Tuesday's gains in USA equity markets would lead to a more lasting rebound foundered the S&P 500, Nasdaq 100 and Dow all slumped alongside both the Stoxx Europe 600 Index and the MSCI Asia Pacific Index. The Dow Jones industrial average is 0.7 percent lower, or 176 points, at 23,858.

West Texas oil fell as commodities were roiled by the growing trade dispute, while emerging-market stocks tumbled and their currencies dropped.

US Federal Reserve officials said the trade dispute adds to uncertainty, including about the interest rate outlook.

President Donald Trump 's trade war began nearly one month ago, on March 1, when he announced steep tariffs on steel and aluminum that would take effect the following week.

Neither side has said when it will, if ever, actually impose the tariffs. Earlier this year, Mr Trump announced import taxes on aluminium and steel. Earlier, his administration Beijing of making "state-led, market-distorting efforts to force, pressure, and steal U.S. technologies and intellectual property".

Haniger, Gordon homer in Mariners' win over Indians
The Mariners lost Saturday afternoon 6-5 to the Cleveland Indians , but the play heard 'round baseball belonged to Ichiro . The Indians doubled their lead when designated hitter Edwin Encarnacion led off the fourth inning with a solo home run.

Publication of Washington's list starts a public comment and consultation period expected to last around two months.

US officials identified items that "benefit from Chinese industrial policies, including Made in China 2025".

"Disregarding strong representations by China, the United States announced the tariff proposals that are completely unfounded, a typical unilateralist and protectionist practice that China strongly condemns and firmly opposes", according to the statement.

"My view is this is more trade poker than it is trade policy", he said.

Extra tariffs will also be placed on whiskey, cigars and tobacco, some types of beef, lubricants, and propane and other plastic products.

U.S. chemicals, some types of aircraft and corn products are among the goods facing the taxes, the finance ministry said.

The first major trade action against China comes at the beginning of the year, when the United States announces a 30% tariff on imported solar panels - most of which come from China - and taxes on large residential washing machines starting at 20%.

"Any attempt to bring China to its knees through threats and intimidation will never succeed", foreign ministry spokesman Geng Shuang said.

Arsenal v CSKA Moscow: Gunners to fashion an advantage in a thriller
There are certainly more than a few similarities between the situation at Arsenal right now and the Manchester United last season. Our concern is the performance and the crowd will be behind us.

Q: What reasons do Washington and Beijing have for avoiding a trade war?

US President Donald Trump on Wednesday said the US is not in any kind of trade war with China as the war was lost many years back by the earlier "foolish and incompetent" American leadership.

"China has made meticulous efforts in deciding the list of the products to make sure the impact on China's economy is controllable", said Tu.

"What's next is we're going to see a tit-for-tat retaliation", says Joseph Brusuelas, chief U.S. economist at RSM, a global accounting and consulting firm.

"Why should I invest when there's no certainty?" "The tariffs on USA imports including soybeans is China's response that matches the scale of proposed US tariffs". But they could also hurt USA companies or individuals that don't do any exporting, if they have to pay higher costs for imported products.

The tariffs that China and the United States threatened this week could harm both sides.

"The amount that both countries have invested in bilateral trade cooperation and economic cooperation is so significant that the costs of going back would be very painful, and more than either country would want to bear". A full-fledged trade war could slow global commerce.

Facebook needs a few years to fix problems: Zuckerberg
When Apple's CEO was asked what he would do if he were Zuckerberg, Cook said, " I wouldn't be in this situation ". Last month, the tech entrepreneur took out an ad in the New York Times to apologize to users.


  • Ravens sign Robert Griffin III to one-year deal

    Ravens sign Robert Griffin III to one-year deal

    Griffen's release led to a short stint with the Browns, which is what happens to the majority of quarterbacks in Cleveland. He was the No. 2 pick in the 2012 draft and counted on to be the franchise quarterback for the Washington Redskins .
    Juventus have learnt from Champions League final defeat - Allegri

    Juventus have learnt from Champions League final defeat - Allegri

    Real Madrid are expected to have Cristiano Ronaldo back in their squad, the Portuguese star missed Real's last outing in La Liga. The match also holds much significance for Zinedine Zidane , who will be returning to Turin for the first time as a manager.
    Dutch Lawyer Becomes First Person Sentenced In Mueller Probe

    Dutch Lawyer Becomes First Person Sentenced In Mueller Probe

    The report, authored by the law firm, was about the corruption trial of former Ukrainian Prime Minister Yulia Tymoshenko . Person A is widely believed to be Konstantin Kilimnik, a Russian who worked on Manafort's and Gates' projects in Ukraine.
  • Snapchat gets group video calls and Mentions feature for tagging friends

    Snapchat gets group video calls and Mentions feature for tagging friends

    Facebook Messenger has filters too, but only supports six callers; Houseparty can handle eight callers, but doesn't have filters. The company first introduced one-on-one calling two years ago, allowing users of the platform to communicate via voice or video.
    Alan Pardew leaves West Brom

    Alan Pardew leaves West Brom

    So too was Gareth Barry, who won 57 caps for England and who has played more Premier League games than anyone. He just missed out on the job last time despite having backers at the club.
    Last opposition group starts leaving Syria's eastern Ghouta, regime media says

    Last opposition group starts leaving Syria's eastern Ghouta, regime media says

    Douma was one of the earliest centers of the anti-government demonstrations that swept through the country in March 2011. State media say 41,000 people have also been evacuated to Idlib under deals between Ahrar al-Sham and Faylaq al-Rahman.
  • Patriots trade Brandin Cooks to Seahawks division-rival Rams

    Patriots trade Brandin Cooks to Seahawks division-rival Rams

    Mayfield to the Patriots is dropping a can of gas into a puddle of kerosene in terms of just trying to fathom the whole thing. The Rams now have zero picks in the first two rounds and their first selection will now come at pick 87 of the third round.
    Reports of active shooter at YouTube HQ

    Reports of active shooter at YouTube HQ

    The 36-year-old male is in critical condition while one woman is in serious condition and the other is in fair condition. A source told ABC7 News' Vic Lee there was one, female shooter and that officials are clearing rooms at the campus.
    Mohamed Salah nearly  unstoppable, says Liverpool defender Virgil van Dijk

    Mohamed Salah nearly unstoppable, says Liverpool defender Virgil van Dijk

    As his manager, I'd say 'come on, prove it by playing at this level for the rest of the season.' That's how it is. Everyone knows our team spirit and without all of us Mo wouldn't have scored his goals.
  • Prince Philip recovers in hospital after 'successful' hip operation

    Prince Philip recovers in hospital after 'successful' hip operation

    The duke stepped down from his public duties last summer, but on occasion does attend events with the Queen. The top of the thigh bone is removed and replaced with a metal stem that has a smooth ball on the end.
    California On The Brink Of War Against EPA's Nationwide Emission Rules

    California On The Brink Of War Against EPA's Nationwide Emission Rules

    The Alliance of Automobile Manufacturers applauded the move, saying it would "keep new vehicles affordable to more Americans". California agreed to follow the new rule so that automakers could meet a single national standard.
    Erdogan, Putin break ground for nuclear power plant

    Erdogan, Putin break ground for nuclear power plant

    Turkey and Russian Federation have forged burgeoning ties in recent months on a number of, despite past differences. He highlighted that Akkuyu Nuclear Power Plant would be a symbol of the Turkish-Russian friendship.


'Spider-Man' release date announced, not coming to Xbox, says Insomniac Games
Developer Insomniac Games angered some fans when it announced that Spider-Man would save enemies rather than allowing them to die. Furthermore, Insomniac Games has discovered that the release date reveal will occur today within a pleasant and welcoming tweet.

Next generation iPhones could allow touchless user input
Samsung has successfully been producing phones with curved edge-to-edge displays since the Galaxy S6 Edge made its debut in 2015. Apple's iPhone X has an OLED screen that curves slightly at the bottom but isn't detectable.

Ashton Whiteley - UK Manufacturing Growth Slows in Q1
In the meantime, the business sentiment continued to be weak, indicating some concerns about business prospects in the coming 12 months.

Asians stocks fall on US-China trade tensions, yen rises
Treasury prices are lower, with the benchmark 10-year yield up 3 bps at 2.76% and the two-year yield also 3 bps higher at 2.27%. China raised import duties on a $3 billion list of USA goods in response to US tariffs on imported steel and aluminum.

States Sue Trump Administration Over Census Citizenship Question
The lawsuit - filed in the Southern District of NY - asks the federal courts to declare the citizenship question unconstitutional. All of the states bringing the case have Democratic attorneys general.

Synthetic Pot Users Dead After Severe Bleeding Reports
The Illinois Department of Public Health warns that synthetic marijuana is far from a safe alternative to the natural drug. Last year, 102 people in Lancaster County, Pennsylvania, overdosed on synthetic marijuana within three days .

Egypt Election: Strongman Abdel Fattah el-Sisi wins with no real opposition
Speaking to CNN ahead of the election results, Egyptian MP Dalia Youssef said she was happy Sisi was likely to remain in office. United States President Donald Trump on Monday congratulated his Egyptian counterpart Abdel Fattah al-Sisi on his re-election.

Spotify makes record-setting direct listing; shares jump, then slide
It faces tough competition from the second-largest streaming company Apple Music, which has 38 million subscribers. The company is using an unusual direct listing process rather than the standard process used for nearly all IPOs.

French strike affects Swiss rail connections
With their strike , railway workers are protesting Macron's plan to modernize and liberalize state-owned railway company SNCF. Workers now enjoy generous contract and benefits, but the French government is looking to reform contracts for new workers.

Let´s go baby! Jubilant Joshua pledges to knock Wilder ´spark out´
There is a rematch clause for the fight, but Joshua's promoter, Eddie Hearn, said that would not be happening. It explains why Joshua tipped the scales at almost a stone lighter than he did for his previous fight.