China ready to pay 'any cost' in trade war, ministry says

08 April, 2018, 01:16 | Author: Roderick Gutierrez
  • TRADE WARS US v CHINA Trump and Xi in tariff row

On Friday, the Dow Industrials, the S&P 500, and the Nasdaq all fell by more than two percent, capping off another down week. Bejing has condemned Donald Trump's latest tariffs threats but warned that the U.S. had more to lose than China, especially politically.

Congressman Don Bacon accused China of stealing the intellectual property and trade secrets of USA companies, while dumping cheap products into the American market for too long.

The latest declines came on the heels of President Trump saying he's considering tariffs on an additional $100 billion worth of Chinese goods as a response to that country's "unfair retaliation" to his initial tax proposal. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair.

The products on the latest USA list include heavy machinery, motorcycles and high-tech items, such as semiconductors and batteries. "We represent 6 percent of the imports but account for 51 percent of the tariffs". Following the U.S. administration's imposition of tariffs on aluminium and steel last month, the president ramped up the pressure by adding 25 percent tariffs to a list of 1'333 Chinese imports earlier this week.

China's commerce ministry said in a statement Friday that if Washington persisted in what Beijing described as protectionism, China would "dedicate itself to the end and at any cost and will definitely fight back firmly". China then said it would impose tariff hikes on $50 billion worth of US goods, including soybeans and small aircraft.


For Trump, however, they were an excuse to escalate the dispute.

The imposition of tariffs, Chinese investment and student restrictions will all hurt the USA more than they will hurt China.

China will continue reforms and promote trade and investment liberalization, he said.

US stocks also were affected this past Monday by Trump's new verbal attack on giant online retailer Amazon.

Recommended:



Popular

RBI cracks down on digital currencies, plans own cryptocurrency
Before Thursday's statement, the Indian government had issued warnings about the risk associated with trading. This, however, doesn't necessarily mean that any sort of ban on cryptocurrencies will follow.

Details on WrestleMania 34 Talks Between WWE and Dave Bautista Falling Through
This year's card may be the company's most jam-packed ever, with a total of 13 announced matches and a rumoured 7-hour run-time. The 34th WrestleMania will take place at the Mercedes-Benz Superdome in New Orleans , Louisiana and scheduled on 8, April 2018.

The feds now own America's premier prostitution website
Craiglist took down its personal ads section last week in response to the Stop Enabling Sex Trafficking Act, known as SESTA. Backpage founder Michael Lacy had his home raided by the FBI's Phoenix branch earlier on Friday, according to 3TV/CBS 5 .

Commonwealth Games: India's Yogeshwar Singh finishes 14th in Gymnastics final
Darwen teenager Niamh Robinson has a busy weekend in the pool where she is representing the Isle of Man. I don't want to look back at my career and think "bloody hell, I took it way too seriously".

China to fight US protectionism "at any cost"
The amount of US$50 billion made up almost half of the US$115.6 billion worth of United States goods that China imported in 2016. Shanghai September crude futures were untraded due to public holidays in China, after falling 0.8 percent on Wednesday.

Couple strong storms possible Saturday afternoon, evening
On Thursday the county will conduct two tornado drills with outdoor warning sirens sounded and NOAA weather radios activated. The potential for strong to severe showers and thunderstorms will be present Saturday afternoon and evening.

Blackbuck killing case: Court to decide Salman Khan's bail plea today
He has now spent two nights in jail in a small but secure cell which has four blankets, a wooden bed and a cooler. In 2002, fellow Bollywood star Aishwarya Rai , and a former girlfriend accused him of physically abusing her.

Tesla's improved Model 3 results keep Elon Musk's balls in the air
He agreed that Tesla needed eng & prod better aligned, so we don't design cars that are insane hard to build. The electric-car maker missed its production targets in the first-quarter.

Villanova Clinch 2nd NCAA Title With Dominant Win Over Michigan
Luke Hancock scored 22 points for Louisville during its victory over the Wolverines in the 2013 title game. He was named Most Outstanding Player. "Honestly, I didn't look at the score at all", DiVincenzo said.

Vandals Softball, Baseball Teams Set to Return to Action
Logan Sunafrank was on the district champion 4x400 relay a year ago and will run a number of events and throw the javelin. Our ladies had a noteworthy indoor season and look to present similar, if not better, results during the outdoor season.