China to impose additional tariffs on $16B worth of USA goods

China to impose additional tariffs on $16B worth of USA goods

China to impose additional tariffs on $16B worth of USA goods

There are very few domestic electric bike manufacturers to protect in the US, it was argued, meaning that the "trade war" simply damages a growth industry and one that brings green credentials at a time when they sorely need promotion.

China said it will begin imposing 25 per cent duties on an additional US$16 billion of American goods immediately after USA levies take effect, making good on its pledge to retaliate in kind.

China's headline numbers are the first readings of the overall trade picture for the world's second-largest economy since United States duties on $34 billion of Chinese imports came into effect on July 6.

China fired back with its own warning and said it would impose duties on $60 billion of United States goods. West Texas Intermediate and international-benchmark Brent crude oil futures are under pressure early Wednesday after China said it will retaliate against the latest round of USA tariffs on Chinese imports.

Disney says its new streaming service won’t rival Netflix
But the Netflix competitor may be missing a big piece of that library when it launches in late 2019. They also have the Netflix name all over them, so it won't be easy for Disney to take them.

To compensate for the gap on its tariff list caused by the exclusion of crude oil, China added fish meal, wood waste, paper and paper waste, metal scraps, and various types of bicycles and cars, among other products.

In a statement, the Chinese Commerce Ministry charged that the United States "once again put domestic law above worldwide law by imposing "very unreasonable" new tariffs on Chinese goods".

The Chinese counter-move will take effect immediately after the U.S. imposes tariffs on the same amount of Chinese goods.

China's exports growth unexpectedly accelerated in July despite fresh USA tariffs, while its trade surplus with the United States remained near record highs as Beijing and Washington ramped up a bitter dispute that has rattled financial markets. Those duties could be in place after a comment period ends on 6 September.

Universal's Cowboy Ninja Viking Has Delayed Production Indefinitely
Universal Pictures has announced they have indefinitely delayed Chris Pratt's Cowboy Ninja Viking . The film, based on a popular graphic novel, was set to be released on June 28, 2019.

The Trump administration ramped up the pressure for trade concessions from Beijing last week by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports. China has vowed to retaliate to an equal degree.

President Donald Trump has suggested he may tax effectively all imports of Chinese goods, which reached more than $500 billion past year.

Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

Tight Ohio Vote Could Spell Trouble for GOP This Fall
In Kansas' 3rd District , Bernie Sanders-backed labor lawyer Brent Welder is running in a six-way primary to take on Yoder. Joe Crowley, progressives hope to demonstrate that their policies can win over voters in the middle of the country.

China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from USA companies.

Related news