Chinese exports accelerate as US prepares new tariffs

The Trump administration announced today that it would impose 25 per cent tariffs on imports of 279 items from China amounting to Dollars 16 billion.

The tranche of 25 per cent tariffs - which covers 279 products including electronic parts, plastics, chemicals, batteries, tractors and railway cars - follows $US34 billion worth of tariffs announced by the USA government in July.

The US and China have been trying to restart high-level talks that broke off after Trump followed through on his tariff threats.

The US will impose a 25% tariff on $16 billion worth of Chinese goods starting August 23.

April 3: The US trade representativeannounces a list of Chinese goodssubject to the tariffs.

The tariff will mostly apply to industrial equipment, like tractors and chemicals.

A US-China trade war will reduce global output by 0.7% by 2020, with China's economy taking a 1.3% hit and US GDP dropping 1%, Oxford Economics said in a research note on Tuesday, before the new list was released.

Analysts still expect a less favorable overall trade balance for China in coming months given it's early days in the tariff brawl.

It has not yet given a date for its previously announced retaliatory tariffs on $16 billion in U.S. goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products.

Elon Musk says he's considering taking Tesla private
They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla . On April Fool's Day, Mr Musk, who owns nearly 20% of the company, joked on Twitter about Tesla going bankrupt.

The new set of measures are the second tranche of tariffs that President Donald Trump originally announced in March, following tariffs imposed on $34 billion worth of Chinese imports that went into effect in early July. There is a mandatory 60-day comment period for industries to ask for exemptions from the tariffs.

China's surplus with the United States shrank marginally to $28.09 billion last month from a record $28.97 billion in June.

May 19: After a meeting, the two countriesannounce the outline of a trade dealto avoid the tariffs. The finalized list of goods affected includes 279 items.

Imports also rose much faster in July thanks to still solid domestic demand, official data showed on Wednesday, with purchases of commodities like copper and iron ore rising from June.

July 10: TheUS releases an initial listof an additional $200 billion worth of Chinese goods that could be subject to a 10% tariff.

It will be the second time the United States slaps duties on Chinese goods in about the past month, despite complaints by American companies that such moves will raise business costs and eventually consumer prices.

The US will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world's two biggest economies.

China's exports growth unexpectedly accelerated in July despite fresh US 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.

Related News:

08 August 2018

Trump is losing the trade war, according to his favourite measure
FILE - A clerk counts Chinese yuan and US dollar banknotes at a branch of Bank of China in Taiyuan, China, Jan. 4, 2016. China's biggest United States imports by value in 2017 were aircraft and related equipment, soybeans and autos.

07 August 2018

California: Mendocino Complex biggest wildfire in state history
He also claimed water is "foolishly being diverted into the Pacific Ocean". "Can be used for fires, farming and everything else". Fire resources from across Dallas-Fort Worth will be heading to California to help crews combat the Mendocino Complex wildfire .

07 August 2018

Opelousas General Health System Celebrates World Breastfeeding Week & National Breastfeeding Month
Breastfeeding is important, as it significantly boosts a baby's immune system and helps protects them from various illnesses. Exclusive breastfeeding also helps to bring about bonding of baby and mother and helps delay a new pregnancy.
08 August 2018

Angelina Jolie Alleges That Brad Pitt Has Not Paid Enough Child Support
In 2006, Pitt adopted Jolie's children, Maddox and Zahara , both of whom were adopted by Jolie prior to their marriage. Meanwhile, a second source tells ET, " Brad always fulfills his commitments" when it comes to his children.

08 August 2018

Johnny Depp's Notorious BIG film pulled a month before its release
The new film City of Lies focuses on the investigation into the murder of the Notorious B.I.G . in 1997. Unfortunately, it would appear that the film is no longer slated to be released on its original date.

07 August 2018

Michael Jordan says 'I support' LeBron James after Trump attack
While speaking at the TCA summer press tour on Monday, David Nevins, Showtime's president, and CEO made the announcement. James is behind a three-part documentary series, " Shut Up and Dribble ", announced Monday by Showtime.
07 August 2018

German couple convicted for selling son online for sex
The boy, who was nine when the trial began in June, was repeatedly sexually abused by Spanish paedophile Javier Gonzalez Diaz. Video footage catalogued the horror of the boy's abuse, which included him being tied up and subjected to verbal humiliation.

07 August 2018

West Hollywood council wants to remove Trump star from Walk of Fame
Trump's star, which is located on Hollywood Boulevard near Highland Avenue, has been repeatedly damaged by angry demonstrators. Trump received the star in 2007 for his work producing the Miss America Pageant and before he starred in TV's The Apprentice .

07 August 2018

Apple kicks Alex Jones and Infowars podcasts from iTunes
Earlier this summer, Google's YouTube site suspended Jones' content for 90 days because it violated its graphic content policy. Youtube has a ban against hate speech and Alex Jones has been broadcasting conspiracies that are based on hate for years.
08 August 2018

Teens block roads for seventh day over road safety
Police in Bangladesh's capital, Dhaka , fired tear gas and used batons on Saturday to disperse. They have ignored repeated calls from the government for them to return home.

08 August 2018

Republicans Spent Big to Win a Special Election. Now They're anxious
Bernie Sanders (I-Vt.) who narrowly lost the 2017 special election in a sign of some Republican trouble to come. Iraq War veteran John James also won the Michigan GOP Senate primary to take on Democratic Sen.

07 August 2018

President Trump appears to change his story about meeting
Mueller would have the option to issue a subpoena compelling the president to testify if Trump chose not to be interviewed. It was later reported that was false and the president was involved in constructing his son's misleading statement.