Published: Wed, August 08, 2018
Global | By Shelia Dennis

Trump's China Trade War Just Escalated by $16 Billion

Trump's China Trade War Just Escalated by $16 Billion

A spokesman for the commerce ministry described the latest round of USA tariffs as "very unreasonable".

The measure comes shortly after Washington released the latest list of Chinese goods worth $16 billion that are set to face a 25 percent tariff.

China's July exports rose 12.2 percent from a year earlier, beating forecasts for a 10 percent increase according to the latest Reuters poll, and up from a 11.2 percent gain in June.

His administration confirmed that its trade assault would soon cover more than $50 billion of products from China. 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.

Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of USA threats. But given the lack of talks and Trump's unclear goals, the trade war doesn't appear to be close to a resolution.

China reported larger than expected exports in July, even as the US prepared a new list of products for tariffs. It represents the latest salvo in the ever-expanding trade war between the U.S. and China.

Android 9.0 Pie officially launched by Google
For example, Adaptive Battery aims to learn which apps you use the most and prioritize the battery life, so it can maximize power. Instead, you now simply swipe up on the screen to see your recently-used apps, just like you would on an iPhone X .

After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

Washington and Beijing are locked in battle over American accusations that China's export economy benefits from unfair policies and subsidies, and especially from the theft of American technological know-how.

The US plans to move forward with further tariffs on Chinese goods starting 23 August, its top trade negotiator has said.

Still, there's little sign the trade threat is hurting shipments just yet. Washington has long criticized China's trade surplus with the United States and has demanded Beijing cut it.

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.

The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the USA president.

Iran Says It's Willing To Talk With US 'Right Now' Amid Sanctions
Israeli Prime Minister Benjamin Netanyahu , like Trump a long-time opponent of the accord, congratulated him on the new sanctions. He also praised the " most biting sanctions ever imposed" and said they would "ratchet up to another level" in November.

In the meantime, it sought public comment on the new items.

"Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around", the commentary said.

"Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems", it said.

The United States has stepped up its trade war with China... by announcing a new round of tariffs. Many Chinese semiconductors include basic chips that originate in the US.

The Office United States Trade Representative (USTR) announced the tariffs in a statement released on Tuesday afternoon US time.

Facebook deletes InfoWars pages
BuzzFeed News reported on Sunday that Apple had removed five podcasts associated with InfoWars from iTunes and its podcast app. Facebook confirmed Monday that it removed four pages promoting the controversial conspiracy theorist and his content.

Like this: