White House approves $50 billion of China tariffs in surprise move

31 May, 2018, 22:23 | Author: Clarence Schmidt
  • Ivanka Trump's foreign-trademark victories raise conflict of interest questions

A day after the United States announced 25 per cent tariff on Dollars 50 billion of Chinese tech goods, China on Wednesday said that it did not want a trade war and remained undeterred.

These measures will be taken pursuant to the decisions made by US President Donald Trump on March 22 of this year, the press service said.

The White House also says the United States is planning new investment restrictions and export controls.

The list of specific imports subject to the tariff hike will be released on June 15, with the list on investment restrictions set to be posted on June 30.

The statement highlighted the country's industrial policies, such as its "Made in China 2025" plan, which the White House said harms companies in the USA and around the world; its average tariff rate, which is almost three times higher than the average United States rate; and that China imposes much higher tariffs on U.S. exports than the United States imposes on China. The impact of the sanctions prompted a personal plea from Chinese Premier Xi Jinping for Trump to step in.

Beijing yesterday accused the USA of hurting its credibility by acting erratically on trade and vowed to fight back if Washington goes ahead with a threatened tariff hike.

The tariffs and investment restrictions, as well as a case brought by the United States against China before the World Trade Organisation, are the outcome of an investigation launched a year ago into intellectual property practices in China. China said the claims were unproven and sometimes speculative. A delegation led by U.S. Commerce Secretary Wilbur Ross is due to arrive Saturday in China.

The possibility of inflamed trade tensions, coming just over a week after a trade war with China seemed unlikely, helped contribute to a tumble in U.S. markets.

The unilateral increase in tariffs is accompanied by barriers to Chinese investments and imports linked to the technological sector, thus eliminating the consensus to increase them on both directions.

China's Ministry of Commerce said yesterday that the United States statement is contrary to the consensuses the two sides previously reached in Washington.

It will also continue to pursue a World Trade Organization (WTO) dispute settlement against China originally initiated in March to address its discriminatory technology licensing requirements. Trump announced on Tuesday that was moving forward with tariffs on Chinese imports. The investigation determined that Beijing commits intellectual property theft and forces foreign companies to hand over valuable data in order to operate in the Chinese market and compete with domestic firms. Trump also has blamed China for influencing North Korea amid the president's bid to hold a summit with Kim Jong Un on denuclearization.

The American Chamber of Commerce in China said companies are uneasy about the threat of export and investment controls but see them as a possible way to make progress on longstanding complaints about market access and investment curbs.



Was ABC Right to Cancel 'Roseanne'? How to Have Your Voice Heard
Responding to Fishman's statement on Wednesday , Barr tweeted , "I created the platform for that inclusivity and you know it. Although President Trump didn't explicitly come to Barr's defense, he did imply ABC was guilty of hypocrisy.

Catsuit queen Serena back in winning business
Serena won 82 percent of her total service points despite struggling with her second serve, and she had just 25 unforced errors. The last time she had been spotted on a court was in a first-round loss to Naomi Osaka in Miami in March.

Federal government will purchase Trans Mountain pipeline for $4.5B
Court of Appeal to determine if the province can restrict heavy oil shipments and create new spill and cleanup funding rules. But the pipeline faces strong opposition in British Columbia, particularly in the Vancouver area.

Petrol, diesel price cut by 1 paisa a litre
The central government levies Rs 19.48 a litre of excise duty on petrol and Rs 15.33 per litre on diesel. The selling prices of petrol and diesel with effect from May 30, 2018 have been rectified.

Roseanne Barr Blames Ambien For Sparking Racist Twitter Controversy
Replying to one of her fans, she admits "I honestly thought she was Jewish and Persian-ignorant of me for sure, but.i did". Trump to apologize for the disgusting statements made and said about me on ABC ", Trump tweeted .

WH lawyer, Kelly speak before Russia meetings
Senate Democrats and Republican leaders are anxious about what sort of precedent a special briefing like this for Nunes might set. The invite list evolved up until hours before the meeting - a reflection of the partisan distrust and the political wrangling.

NHL Stanley Cup: Vegas Golden Knights close to beating 500-1 odds
But boy was it fun to watch live, unless you were Braden Holtby or Marc-Andre Fleury. "The fans got their money's worth tonight". It was insane ", Reaves said of the atmosphere. "Even going out for warmups, I kind of got some chills".

US woman allegedly held captive escapes with secret note to vet
According to the sheriff's office, Floyd pointed the gun at her in the vehicle and threatened to kill her and her family. On Friday, she convinced him to let her take their dog to the DeLand Animal Hospital, but he insisted on coming with her.

Irish turn attention to parliament as abortion ban voted out
It outlawed all abortions until 2014, when the procedure started being allowed in rare cases when a woman's life was in danger. Mr Wells called on Northern Ireland's anti-abortion movement to "redouble its efforts" to prevent any change of the law there.

Chelsea legend John Terry set to leave Aston Villa
Fulham booked their place in next season's Premier League after a hard-fought 1-0 win over Aston Villa at Wembley on Saturday. Steve Bruce's Villa, meanwhile, overcame Middlesbrough 1-0 across 180 minutes of action.