Chinese Exports Accelerate As US Prepares New Tariffs In Heated Row

Trump going ahead with tariffs on $16B in Chinese imports

The plan will impose a 25 percent tax on an additional $16 billion in Chinese goods starting August 23.

Washington imposed tariffs on $34 billion of Chinese products on July 6.

The dispute has continued to escalate as the sides exchange threats, and Trump last week threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the planned 10 percent. Year-on-year, the growth of China's exports to the United States slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent. Since then, Washington and Beijing have raised the stakes by threatening more punitive trade measures in an intensifying dispute that has rattled financial markets anxious about the impact on investment and growth.

Trump's mission to reduce the U.S. trade deficit via the threat of tariffs has brought him into conflict with China as well as USA allies, roiling financial markets and raising fears of a global trade war the International Monetary Fund has warned may undermine the strongest economic upswing in years. While there's no major risk of the world lapsing into "damaging stagflation", the possibility remains of a "bigger blow-up" that sharply reduces trade, as in the 1930s, it said.

Dallas County announces first West Nile Virus death of 2018
The treatment is meant to decrease the mosquito population and minimize the risk of transmission of West Nile Virus . They are most active at dawn and dusk and will bite humans as well as other mammals and birds.

"We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than United States tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation". "The risk is that the U.S. administration's gamble to strong-arm China into giving into all U.S. demands without some compromise only leads to successive rounds of higher and higher tariffs". President Donald Trump has suggested he may tax effectively all imports of Chinese goods, which reached more than $500 billion past year. Beijing is expected to hit $16 billion worth of USA goods with equal tariffs in response to Tuesday's move.

All China's main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled "declaration", on their front pages.

The U.S. exported more than $142 million worth of lobster to China past year, up from about $108 million in 2016.

"We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's chipmakers, not China's, and will do nothing to stop China's problematic and discriminatory trade practices", he said.

Related:

Comments

Latest news

Samsung Debuts 4TB Mobile Storage Options
Samsung today announces a more affordable variant to its $1,499 4TB solid state drives , presenting the 4TB QLC SSDs. Samsung claims its drive will be the "industry's first 4-bit consumer SSD ", but we'll have to see about that.

Kourtney Kardashian And Younes Bendjima Split And It's Already Messy
The split comes just a few weeks after he left a comment on her Instagram shading her for posting a bikini photo. Over a screenshot of the article, he wrote, " They really want me to be the bad guy ".

Spanish fighter jet accidentally fires missile over Estonia
Spanish jets have done five of the three-month air-policing tours, leading them in 2006 and 2016 and taking part in 2015 and 2017. Colonel Riivo Valge, head of the Estonian Air Force, said the warhead was far less damaging than a ground-targeted bomb.

The Oscars Will Be Adding A New Category To Honor ‘Popular’ Movies
In an effort to keep future ceremonies to three hours, the awards will be presented live and during commercial breaks. The board of governors announced the changes in a letter to academy members after the board's Tuesday meeting.

Carrie Underwood Expecting Second Baby, Bringing World Tour To Pittsburgh
In the two-part video clip, Carrie also talked about her upcoming album Cry Pretty and her tour, kicking off next year. Some fans were upset about her comments, and felt they were insensitive to those with struggling with fertility.

Saudi Arabia: 'There is nothing to mediate' in dispute with Canada
Jubeir added that Saudi Arabia was "considering additional measures" against Canada, without elaborating. Saudia Airlines has also announced it will suspend flights to and from Canada starting August 13.

Hurricane John devours Tropical Storm Ileana in the Pacific
The storm should dissipate by Thursday night over the far northern Atlantic, posing no threat to land. Last week finished up with a hurricane and three disturbances in the East Pacific tropics.

Chris Pratt-Starring Cowboy Ninja Viking On Indefinite Hold
MacLaren and Pratt will still remain attached to the project, with Chopra staying on if the scheduling ultimately works out. He already has Jurassic World with Universal , which released Fallen Kingdom this summer to huge box office numbers.

NY congressman arrested on insider trading charges
In October, a congressional ethics investigation determined there was "a substantial reason to believe" Rep. Collins violated federal law when he promoted stock in Innate Immunotherapeutics using insider information.

Indonesian rescuers struggle to reach cut-off villages after deadly quake
In December 2004, a massive magnitude 9.1 quake off Sumatra triggered a tsunami that killed 230,000 people in a dozen countries. A man looks on around the buildings damaged by an natural disaster at Pamenang village, in North Lombok.

Disney Streaming Service Won't Include Pre-2019 Star Wars Films
Disney's movie studio enjoyed blockbuster success with " Avengers: Infinity War " and "The Incredibles 2 ". Adjusted earnings per share totaled $1.87, less than the Street's expectation of $1.95.

Mackenzie Noland alligator graduation pictures: Student poses with massive reptile
In her "not typical" graduation picture, Makenzie Noland stood with a dear friend she once considered rather threatening. A college senior in Texas has drawn quite a response as she posed for her graduation photos with a massive alligator.

Sergey Kovalev knocked out in stunning title loss
Kovalev was the more aggressive of the two boxers and was winning the majority of the rounds heading into the seventh. Perrella's only loss came against Yordenis Ugas who beat him up and stopped him in four rounds back in 2016.

New Samsung Promo Teases Galaxy Note 9 Gaming Features
With the Galaxy Note 9 , it appears as though Samsung will do everything in its power to avoid making the same mistake twice. Besides all the leaks, the Galaxy Note 9 has also been showcased in several teasers released by Samsung itself.

OpenAI Controlled Dota 2 Bots Demolish Team of Former Professional Players
Since OpenAI's Dota 2 bot beat professional player Danylo "Dendi" Ishutin at the worldwide 2017, the AI has evolved significantly. The human team is made up of Blitz, Cap, Fogged, Merlini and Moonmeander, with commentary from Purge and ODPixel.

Other news