Apr 06 2018
"There's going to be a tit for tat and hopefully it settles down".
Trump unveiled the tariffs in response to assessments that China's theft of American copyrights on intellectual property is costing the USA economy billions of dollars each year. Most importantly, he viewed the trade deficit as the most important thing in global trade.
On Wednesday, the US and China traded tough words. I warned President Trump as much in a White House meeting in February.
The move went against the interests of China, the United States and the world economy, seriously violating the basic principles and spirit of the World Trade Organization (WTO).
"The U.S. list suggests that the government is targeting the "Made in China 2025" initiative, while China's retaliation intends to bring Americans back to the negotiation table", Zhou Hao, an economist at Commerzbank in Singapore, said in an email.
On the other hand, Chinese leaders are super confident on winning against the battle against China as they look very much confident on winning against the tariff war.
Soybeans topped the list, which also included corn, tobacco products, cars and other vehicles, plastics and chemicals.
Washington on Tuesday proposed $50 billion in duties on Chinese goods aimed at forcing Beijing to address what the United States says is deeply entrenched theft of US intellectual property and forced technology transfer from USA companies. I guess that is the basis of claiming that these are somehow the opening gambits of a future negotiation but Americans import products from China because it is less expensive.
The complaint is valid, but a trade war would be a reckless overreaction.
"Soybeans, that's our top agricultural commodity exported to China", said Tony Banks, assistant director of commodity marketing at the Virginia Farm Bureau Federation.
"We have the backs of farmers in this administration", Navarro told CNBC in an interview.
So far, no tariffs have actually been imposed. "But from an economic and financial perspective, the iPhone is a USA product, and the US benefits the most from it", said the report.
The memorandum is based on a so-called Section 301 investigation, launched by the administration in August 2017, into alleged Chinese intellectual property and technology transfer practices.
Tensions between the United States and China escalated again this week as both countries issued dueling plans to impose new tariffs on imported goods. That number accounts for roughly a third of China's imports from the USA last year, versus less than one-tenth of China's exports to the US, according to data from The International Monetary Fund.
USA officials say they'll hold hearings on the administration's proposed target list of 1,300 products in mid-May and haven't set a deadline for when the tariffs would take effect.
Beijing says Washington is the aggressor and is spurring global protectionism. Foreign companies complain that the initiative will limit or outright block their access to those industries.
"Markets seem to be in relief rally mode and part of this is really driven by the fact we're not really in a trade war yet", said Charlie Ripley, senior investment strategist at Allianz Investment Management in Minneapolis.
ENERGY: Benchmark U.S. crude fell 34 cents to $63.20 a barrel in electronic trading on the New York Mercantile Exchange.
At the same time, Chinese officials seem to believe they can take advantage of what they consider vulnerabilities in the United States political system.
Washington's 1,300-product long list was focused on Chinese industrial technology, transport and medical products and tailored to do the least damage to American consumers. In 2016, China purchased $14 billion worth of USA soybeans, many produced in states Trump won.
Apr 05 2018
Woods will be in mix for US Masters glory, insists Faldo
During a Masters press conference I heard Jason Day say, "I'd rather fail in front of millions than fail in front of nobody". Johnson didn't get the chance past year after he slipped down the stairs and wrenched his back on the eve of the Masters.
Apr 05 2018
Liverpool boss Jurgen Klopp sorry over Man City bus attack
In the second half we reacted. "We've won the game in the first half and then had to defend well in the second". "I didn't expect that".
Apr 05 2018
Keita: Barcelona must respect AS Roma
We scored the goals we merited, they attacked us and got the goal they were looking for, which made our fourth very important'. While the Reds thrashed City 3-0 at Anfield, there were more goals in the second match where Barcelona thumped Roma 4-1.
Apr 04 2018
Patriots trade Brandin Cooks to Rams for 1st-round pick
Also, for fans who thought that maybe an offensive lineman, one who might push some of the age at center or tackle, is also gone. He's recorded three consecutive 1,000-yard seasons and should become a prime target in L.A. for young quarterback Jared Goff .
Apr 04 2018
It's April 2 and snow is falling on the Philly region
That's where the colder air will hang on longer and thus, we may see some light snow or ice accumulation through early Wednesday . Xcel Energy sent a press release Monday afternoon reminding customers that strong winds and snow can cause power outages.
Apr 04 2018
50 years after MLK's death, a look at his life
A single bullet, fired from a Remington 760 Gamemaster hunting rifle, screamed through the waning sunlight and killed the Rev. King taught us by example, our prayer life must move us to serve, to struggle and, when necessary, to sacrifice for justice.
Apr 04 2018
Villanova gets win against MI in blow out - Recap, Box score
He scored 13 of those points in a 23-7 surge at the end of the half that turned Michigan's 21-14 lead into a 37-28 deficit. In fact, ratings for the 2017 game were up 29 percent from the 17.8 million who watched on Turner networks in 2016.
Apr 03 2018
Pork Producers Concerned Over New China Tariffs
And the $3 billion in US products that Beijing targeted Monday amount to barely 2 percent of American goods exported to China . President Donald Trump welcomes Chinese President Xi Jinping at Mar-a-Lago state in Palm Beach, Florida, U.S., April 6, 2017.
Apr 02 2018
Up to 4 inches of snow expected
No fooling around - April snow absolutely happens in New Jersey! Temperatures plummet to below average readings over the weekend. Winter weather advisories are posted for the entire area to highlight the likelihood of some unwelcome April snow this morning.
Apr 01 2018
Joshua earns points win over Parker
Fury watched the fight between Joshua and Parker, and based on what he saw - he believes Wilder would knock Joshua out in style. For the first time in his professional career, Anthony Joshua would see not only the twelfth round, but also the scorecards.
Apr 06 2018Kevin De Bruyne: 'I only spoke to Jose Mourinho twice at Chelsea'
Apr 06 2018Trending warmer next week, until then more cold and snow
Apr 06 2018Jordan Spieth storms to front on day one of Masters
Apr 05 2018Kenny Dalglish Really Loved Liverpool's Win Over Manchester City
Apr 05 2018Augusta Masters: Five golfers to watch
Apr 04 2018Could it be, a Tiger Woods-Phil Mickelson bromance?
Apr 04 2018Rain changing to snow tonight
Apr 04 2018Spotify hopes to strike a chord with investors
Apr 03 2018Morning Bell: TEACHER WALKOUT - DAY 2
Apr 03 2018Dissecting the defenses of the Final Four teams
Apr 05 2018John Cena Says Conor McGregor Would Probably Beat Him Up
Apr 05 2018Notre Dame women steal NCAA title with 2nd shot of a lifetime
Apr 05 2018In Tribute to Winnie Madikizela-Mandela, 'Mother of South Africa'
Apr 05 2018Is Charley Hoffman playing in The Masters 2018?
Apr 05 2018Oklahoma teachers walk out for second day
Apr 04 2018Sterling girls soccer team drops league game
Apr 04 2018South Africa Pays Tribute To Winnie Mandela
Apr 04 2018Severe weather outlook Tuesday
Apr 03 2018Joining Nationwide Teacher Rebellion, Tens of Thousands Rally for Education in Oklahoma
Apr 03 2018Cambridgegate: Is Facebook Being Framed?
Apr 02 2018Notre Dame's comeback largest in Women's National Championship Game history
Apr 01 2018Easter, a day to celebrate for the resurrection of Jesus Christ