China says it will fight US tariffs at any cost

07 April, 2018, 14:45 | Author: Sherri Guerrero
  • China says it will fight US tariffs at any cost

"We don't have a trade war, we've lost the trade war", Mr Trump said in a radio interview with NY radio show early on Friday.

"We've already lost the trade war".

President Donald Trump on Thursday night asked the US trade representative to consider slapping tariffs on another $100 billion worth of products from China on top of the $50 billion in duties proposed earlier this week. That move was a direct reaction to the tariffs on $50 billion in Chinese goods that the White House detailed on Tuesday, the USA media reported.

The Trump threat "raises the possibility of an alarming escalation in the trade conflict between the world's two biggest economies", Tom Orlik, Bloomberg Economics chief economist, wrote in a note. They calmed down Wednesday and Thursday on hopes the USA and China would find a diplomatic solution but slid Friday after Beijing said it would fight the Trump administration's latest threats.

The U.S. president cited "China's unfair retaliation" in response to his list of proposed tariffs earlier this week covering US$50 billion in Chinese products.

Mr Trump said in his statement that he's directing Agriculture Secretary Sonny Perdue to use his authority to put a plan in place to protect agricultural interests.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers".

"We think this move is created to reclaim the leverage Trump lost to China's threat of $50 billion in retaliatory tariffs on key USA exports".

China retaliated Wednesday with its own tariffs on $50 billion dollars of American products, including pork, beef, soybeans, whiskey, wine and aircraft.

The Chinese Ministry of Foreign Affairs issued an identical statement, which added that Beijing would continue to monitor tariff moves from the US.

Thursday night, China's commerce ministry responded to the Trump's announcement by saying they, "are not afraid to fight a trade war" and if the USA persisted in its actions, China would "dedicate itself to the end and at any cost and will definitely fight back firmly".

Trump in rape claims over migrant caravan
The U.S. side has said the National Guard will act only in a support role. "They don't want to mention that". The woman who's endured sexual abuse should not be turned away at the border.

Kim Kardashian West shares family photo
The " Keeping Up with the Kardashians " star just shared on Instagram her first family picture after welcoming baby Chicago . Last week, KKW Beauty and Kim Kardashian shared new images from the photo shoot for the KKW X Mario collection.

Russian Federation to accelarate delivery of S-400 systems to Turkey
Putin asserted that Russian partners would encourage Turkey's small- and medium-scale companies to participate in this project. A war of words between Putin and President Recep Tayyip Erdogan rages as Moscow demands an apology.

Earlier in the week, Beijing announced separate import duties on $3 billion of United States goods in response to the Trump administration's duties on all steel and aluminum imports, including from China.

The latest sell-off comes mere hours after President Donald Trump said he was considering another wave of tariffs on China imports, to the tune of $100 billion.

The top White House economic adviser is saying, "Blame China, don't blame Trump", for any trade fight.

Kudlow said there may be more serious negotiations between the two superpowers in the coming months, and that the USA wants China to stop violating U.S. intellectual property and open the Asian nation's markets to more American merchandise and investment.

The war of words between the Trump administration and China over trade has escalated after Beijing threatened to fight back "at any cost" against new U.S. proposals for an additional $100bn (£71bn) in tariffs. But economists warn that the tit-for-tat moves bear the hallmarks of a classic trade rift that could keep growing. The proposed tariffs coming from Beijing would heavily target US agricultural industries, a section of the country composed of large swaths of Trump voters.

"We are firmly against any official or military ties between United States and Taiwan", stated Cui Tiankai, Chinese Ambassador to the U.S. Financial markets have swung wildly over the past few days in response to fears of escalating trade tensions between Washington and Beijing.

He also said no negotiations were likely in the current circumstances.

Trump tweeted moments later, criticizing the World Trade Organization and suggesting it's "unfair" to the U.S.

Trump earlier this week proposed tariffs on $50 billion in goods, raising the potential total to more than $150 billion. China ran a $375 billion goods trade surplus with the United States in 2017.

"Any additional tariffs proposed will be subject to a similar public comment process as the proposed tariffs announced on April 3, 2018". Trump has demanded that China cut the trade gap by $100 billion.



Ducey: National Guard to be deployed along Mexico border
Kay Ivey, a Republican, said Friday that she will consult with the head of the Alabama Guard to see what resources are available. The total so far remains well short of the 2,000 to 4,000 National Guard members that Mr Trump told reporters he wanted to send.

Dwayne Johnson reveals the struggles of his depression
Dwayne , on Twitter Monday, shared an article about his remarks on his depression and his mother's suicide attempt . Johnson says "depression never discriminates". "Have faith that on the other side of your pain is something good".

Church in South Africa looks to Zuma prosecution with hope
Even though Jacob Zuma has resigned as president of South Africa and been charged with corruption, he still has loyal supporters. Taxpayers have spent millions footing the bill for some of South Africa's top legal minds working on Zuma's defense.

Deadline for Brazil's Lula to surrender for prison expires
He was reportedly holed up in the metal workers union building in his hometown Sao Bernardo do Campo , surrounded by supporters. Such technicalities "were simply a pathology that should be eliminated from the judicial world", Moro said in his statement.

Champions League: Liverpool stuns Man City
European football's governing body also charged Liverpool after objects were thrown and fireworks set off inside the ground during the game.

Jack Nicklaus backs Rory McIlroy for Masters title
GT also played with Jack Nicklaus at the Father/Son Championship in December. To have your grandson make his first hole-in-one on this stage.

CARTOON: China and US Bare Trade War Teeth
And the $ 3 billion in US products that Beijing targeted Monday amount to barely 2 per cent of American goods exported to China. The U.S says China treats American companies unfairly by restricting access to its markets and stealing proprietary technology.

Arsenal attacker Henrikh Mkhitaryan wary of CSKA Moscow threat
They scored in all five of their Champions League away games, and they have rattled in eight goals in their last three road matches.

Cold, snow were bad for April, but not record bad
Rain will turn to snow late Saturday and mountains could receive several inches of snow. "New Canaan hit the jackpot with 7.5". And so this morning we find an area of snow across the region as a low pressure area moves south and east under New England.

Prince Charles and Camilla create a huge stir in Brisbane
That campaign was defeated at a referendum in 1999 in which most Australians voted to maintain the status quo. Brisbane local Marianne brought her granddaughter Marlena to see the Prince.