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.

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.

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:



Most liked

Ruby Rose to play Batwoman for CW's superhero universe
She first appeared as a love interest for Bruce Wayne in the 1950's after censorship reached an all-time high. The Batwoman script will be written and co-executive-produced by The Vampire Diaires'Caroline Dries.

Michelle’s charming message to Barack Obama as he turns 57
There have also been some celebrities who've gotten in on the fun, including R&B singer John Legend and filmmaker Matthew A. The poll compared August 2, 2018 of President Trump to August 2, 2010 of former President Obama.

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.

Woman helps man short on cash, discovers he's Keith Urban
The singer thanked Reed and said his name was Keith, prompting Reed to comment on his resemblance to Keith Urban. Reed says she hopes her story will help people realize the importance of doing acts of kindness.

Dead fetus found on plane at LaGuardia Airport
The plane was being held at Terminal B while the medical examiner's office spent several hours onboard the aircraft. The flight was parked by the hanger at LGA when the fetus was discovered, and not at the gate, CBS reports.

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.

M Karunanidhi's health condition declines, doctor says 'next 24 hours' are crucial
Congress leader Ghulam Nabi Azad reacted to the protests and said, "The Tamil Nadu government should not play politics". Karunanidhi, who wrote scripts for Tamil cinema before entering politics, faced allegations of corruption and nepotism.

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.

Israeli troops kill one Palestinian at Gaza border protest, ceasefire efforts continue
Abdul-Latif Qanou, Hamas spokesman in Gaza, said in a statement that the marches have become very close to achieving its goals. Others, among them armed Hamas militants, have been killed in attempted border attacks or in Israeli airstrikes.

First look at Margot Robbie in 'Once Upon a Time in Hollywood'
The two are both struggling to make it in the entertainment industry "at the height of hippie Hollywood", as Tarantino describes. Tate's sister Debra, who owns the rights to Sharon's story, and her family have had mixed reviews of the film so far.

Utility worker killed near Northern California wildfire
Firefighters had managed to contain 45 percent of the Carr blaze by Monday morning. The Mendocino Complex Fire has destroyed 75 homes and forced thousands to flee.

Paul Pogba angered by José Mourinho's view of World Cup exploits
Italian newspaper, TuttoSport reports that Juventus are ready to beat Barcelona for Pogba's signature by including Pjanic. It is claimed that if Manchester United can find a replacement quickly, they will agree to sell Pogba.

Ricciardo to leave Red Bull for Renault at end of F1 season
Until Red Bull decide, Sainz's hands are tied and any other move - and McLaren have expressed interest - must remain on hold. Electing to step out of a race-winning Red Bull and into a Renault is a huge risk for Ricciardo.

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.

Horse race bet with William Hill
How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.