Published: Sun, August 12, 2018
Economy | By Shawn Conner

Chinese state media accuse US of 'mobster mentality', vow to fight tariffs

Chinese state media accuse US of 'mobster mentality', vow to fight tariffs

The U.S. charges will take effect on August 23.

In June, the customs authority unveiled a list of products from the United States worth 50 billion USA dollars that will be subject to additional tariffs in response to US announcement to impose additional duties on Chinese imports. And considering that China's GDP grew 7.3, 6.9, 6.7 and 6.9 percent in those four years, the impact of the US' additional tariffs on China's economic growth rate will be marginal and its GDP would continue to grow at a relatively fast rate.

Having claimed that "trade wars are good and easy to win", President Trump has said that he is prepared to hit up to $500 billion of Chinese goods with taxes in an attempt to reduce America's...

-China trade conflict. China's commerce ministry announced on Wednesday that it will impose additional tariffs of 25 percent on 16-billion dollars' worth of USA imports...starting August 23.

Kerala floods : Heavy rains, landslides claim 20 lives
The water level will rise in downstream districts with the released excess water from the dams reaching there. Five members of a family in Malappuram and five from Idukky died due to landslides.

China, however, would run out of USA imports to levy, as it bought only $130 billion worth of American goods previous year. The reaction from China was swift and predictable in this tit-for-tat thing we've got going on.

A negotiated truce is also possible.

China's stance now is that a resolution of trade tensions must not block its further economic progress, but adjustments to Made in China 2025 could happen.

These include 279 products ranging from motorbikes to railway carriages.

Everton Complete Signing Of Manchester United Target On Deadline Day
Having previously managed Barcelona and Bayern Munich, Guardiola is used to high expectations. City won the league by 19 points, finishing with record goals and wins in the process.

A "group of 13 CEOs and senior White House staff" attended a dinner with Trump on Tuesday, August 7.

The potential global impact of the escalating United States trade war has been highlighted in a report issued this week by Oxford Economics before the latest measures were announced. "Trump said he had told Xi as much to his face". China retaliated with higher duties on a similar amount of American goods. Therefore, impending tariff rise on Chinese bulk drugs could generate a surge in Indian bulk drug exports to the US. "A source with knowledge of the matter said the announcement was delayed so as to avoid being further targeted by the United States, taking lessons from its 'Made in China 2025" plan..."

Beijing's fresh tariffs on USA goods will apply to 333 items. But do not expect United States condom makers to wilt under the pressure.

That dynamic has deterred Chinese buyers from locking in forward purchases and seen government bodies write down their soybean import estimates. Chinese imports of goods and services into the United States a year ago amounted to almost $524 billion.

Indonesia quake death toll close to 400
The region has been hit by more than 350 aftershocks, the worst of which struck yesterday. People in Bali , an island 93 miles from Lombok, also reported feeling the quake.

Shipments from China to the US climbed 13 percent in July from a year earlier, to $41.5 billion, after a roughly similar rise in June, customs data show. The yuan has declined by 8 percent this year against the dollar and by about 4 percent against a basket of global currencies.

Like this: