USA considering higher tariffs on US$ 200 bil. of Chinese goods

USA considering higher tariffs on US$ 200 bil. of Chinese goods

USA considering higher tariffs on US$ 200 bil. of Chinese goods

The U.S. government reported Friday that the gap between how much the United States imports from China and how much it exports reached a record level in the first six months of 2018.

Washington imposed 25 per cent duties on $34 billion of Chinese goods on July 6 in response to complaints Beijing steals or pressures companies to hand over technology.

They include food products, chemicals, steel and aluminum and consumer goods ranging from dog food, furniture and carpets to vehicle tires, bicycles, baseball gloves and beauty products.

The GCC, an innocent bystander, will eventually feel the weight of these tariffs.

Until now, China has matched USA tariff moves but not sought to escalate them, which has also probably also emboldened the White House to think it holds a stronger position on the escalation ladder.

General Electric (GE.N) estimated the new tariffs on its imports from China could raise its costs by $300 million to $400 million overall, before steps to lessen the impact while General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) have lowered their full-year profit forecasts.

Fortnite for Android Will Bypass Google’s Play Store
It seems that the rule book for how to release an Android game is going straight out the window when it comes to Fortnite . However, these platforms are tightly controlled, and make it hard for people to install software from unofficial sources.

Officials, however, downplayed suggestions the move was meant to compensate for the recent decline in the value of the Chinese currency, which has threatened to take much of the sting out of Trump's tariffs by making imports cheaper.

Last month, Trump threatened to impose tariffs on all goods imported from China. October Brent crude futures dropped 29 cents, or 0.4% to $73.92 a barrel, adding to a 1.85 loss in the previous session.

"We said before that this round of tariffs amounted to doubling down on the recklessness of imposing trade policy that will hurt USA families and workers more than they will hurt China", said Matthew Shay, president of the National Retail Federation.

"If someone wants a trade war", China's commerce minister Zhong Shan has said, "we will fight to the end".

China on Friday announced retaliatory tariffs on $60 billion worth of USA goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signalling that it won't back down in a protracted trade war with Washington.

The tariffs, which might now be steeper, could go into effect as soon as September.

Drake’s "In My Feelings" Music Video Is Finally Here!
Months before the release of Scorpion , his fifth studio album, Drizzy broke the Internet with two music videos for singles " God's Plan " and " Nice For What ".

A spokeswoman for the U.S. Trade Representative's Office declined to comment on the proposed tariff rate increase or on whether changing them would alter the deadlines laid out for comment period before implementation. According to the EIA, gasoline demand dipped by 40,000 bpd in May, year-on-year.

Growth in India's manufacturing industry also slowed last month, according to a survey released showed just before the Reserve Bank of India raised interest rates. Is the USA trying to put tariffs on its own companies?

The risk of a trade war between the U.S. and China has grabbed markets' attention recently, fuelled by headlines; Twitter quotes from Donald Trump and also because of the threat of retaliatory action from China. He gave no details of possible retaliatory measures.

Read the Middle East to receive $20bn from China: Why the interest in the region?

The United States and China have the world's biggest trading relationship but official ties are increasingly strained over complaints that Beijing's technology development tactics hurt American companies.

This would not help the United States ease its trade imbalance with China either, he added.

Missing Iowa Jogger Mollie Tibbetts: Police Rule Out Possible Sighting
At around 5:30 p.m. on July 17, Mollie's brother, Jake Tibbetts, who shares a vehicle with her, dropped her off at Dalton's home. He said the group exists for people who can not come forward to police, including those who are guilty or involved in a crime.

Related news