Economy

Next Round of Tariffs Set

Next Round of Tariffs Set

And President Donald Trump has threatened to impose tariffs on virtually everything China sells to the United States.

Its comments came after China slapped additional tariffs of 25 percent on $16 billion worth of USA imports of fuel and steel products late on Wednesday.

The trade tensions between the USA and China are increasing now that the Trump administration announced it will hit China with another round of tariffs and also increase the tariff rate on additional products in the future. It said that China's policies and activities related to technology transfer, intellectual property and innovation are "unfair and discriminatory" and are a burden on American trade.

It's a new round of tit-for-tat tariffs in the U.S.

In another sign of China's rising imports, gas distributor ENN received its maiden cargo for the country's first major privately-owned LNG import terminal this week, Thomson Reuters Eikon shiptracking data showed. "Fuel imports rose 14 percent on year at 2.67 million tonnes".

Rocket fault delays the launch of Nasa’s solar probe
But getting so close to the Sun requires slowing down - for which Parker will use the gravity of our neighbor planet, Venus. The current close-to-the-sun champ, NASA's former Helios 2, got within 27 million miles (43 million kilometers) in 1976.

In addition, the revised Chinese list released yesterday adds hundreds of new items which will be affected by the newly announced tariffs. China, in response, said it would do the same to a like amount of American exports to China. Since 2016 a handful more have been allowed in via a "cultural exchange" channel. He reached an agreement with US Treasury Secretary Steven Mnuchin to increase Chinse imports from the US by as much as $100 billion and put the trade war "on hold", only to have the agreement overturned by Trump within a few days.

The U.S.is even willing to hurt allies and itself to make that point: The tariffs "will hit semiconductors from China, even though numerous basic chips in these products originate from the United States, Taiwan or South Korea". The U.S.is the world's top producer of natural gas and is a growing LNG exporter. The US Trade Representative's Office is reviewing tariffs on a further $200bn in Chinese imports and those duties could start once a comment period ends on September 6. "Over time, such changes could reduce the trade deficit between the two countries and limit national security concerns, two big sources of discontent for Mr. Trump", the Times says.

A negotiated truce is also possible.

However, the compromises China is considering on Made in China 2025 seem small, so far. At one point, the U.S. Congress even considered eliminating the U.S. Export-Import Bank, the only real mechanism available to the government for expanding American exports.

Hundreds of Western companies already have been reconsidering China's role in their supply chains, according to several people involved in such decisions. Australia, Indonesia and Malaysia are also nearby suppliers for LNG, which is expected to be part of China's next round of fire. While the disruptions are likely to be widespread, some states may face more problems than others. Companies are just relocating the last steps in production plans to places like Indonesia and Taiwan rather than locating them in the United States, where blue-collar labor is costly. The list includes a lot of industrial and machinery products. This article is strictly for informational purposes only.


  • Trump doubles tariffs on Turkey, stoking jitters

    Trump doubles tariffs on Turkey, stoking jitters

    Erdogan retaliated last weekend with sanctions of his own against the American counterparts of the sanctioned Turkish ministers. Trump said Friday on Twitter that he authorized a new 20 percent tariff on aluminum and 50 percent tariff on steel from Turkey.
    Oleksandr Zinchenko rejected a £16million move to Wolves

    Oleksandr Zinchenko rejected a £16million move to Wolves

    The Spain under-21 global began his career at Barcelona where he found first-team opportunities hard to come by. Nuno Espirito Santo's side are also interested in signing Swansea City midfielder Sam Clucas.
    Trump urges peace on Charlottesville rally anniversary

    Trump urges peace on Charlottesville rally anniversary

    Algenon Franklin Cain, 28, of Red Springs, N.C. was arrested for trespassing on two separate occasions by Virginia State Police. Ralph Northam declared a state of emergency for the state, authorizing the Virginia National Guard to help keep the peace.
  • Sick killer whale J-50 could be cared for in Canadian waters

    Sick killer whale J-50 could be cared for in Canadian waters

    This is an animal that is a sentient being, ' Deborah Giles, science and research director for the nonprofit Wild Orc said. University of Washington scientist Deborah Giles said she was heartbroken for what is happening with the mom and child.
    Investors sue Tesla's Musk over go-private tweets

    Investors sue Tesla's Musk over go-private tweets

    Another, filed by William Chamberlain, seeks class action for those who bought or sold Tesla stock between August 7 and 10. Tesla's share price edged higher as markets closed late last night, increasing 0.86 per cent to $355.49.
    Leeds United look four-midable in big win at Derby

    Leeds United look four-midable in big win at Derby

    Lawrence smashed the free kick over the wall and through the grasp of Peacock-Farrell, who appeared to have the shot covered. Lampard saw Leeds pull his team apart with pace and movement as his first home game in charge ended in a chastening defeat.
  • UVA Hospital lockdown lifted after student rally escalates in Charlottesville

    UVA Hospital lockdown lifted after student rally escalates in Charlottesville

    On Sunday, thousands of counter-protesters are slated to attend multiple rallies against white supremacy in Washington , DC. Dozens of groups, including the local chapter of Black Lives Matter , will counterprotest in Freedom Plaza.
    Books, real estate pace beat for News Corp

    Books, real estate pace beat for News Corp

    News Corp Australia reported growth in digital advertising revenues, however overall revenue was down 3 per cent over the quarter. The new Foxtel is focused on product innovation and leveraging its valuable content.
    Sperm may like boxers better than briefs

    Sperm may like boxers better than briefs

    Men fond of wearing tight underwear who are now trying to conceive a child might want to think again following a new study . Boxer-wearing men had a 25% higher sperm concentration than those who reported not wearing boxers.
  • Authorities Probe How 'Suicidal' Employee Could Steal Plane

    Authorities Probe How 'Suicidal' Employee Could Steal Plane

    The plane was pursued by military aircraft before it crashed on tiny Ketron Island , southwest of Tacoma, Washington. Investigators on Saturday will try to retrieve the plane's flight data recorder and its cockpit voice recorder.
    Novak Djokovic, Rafael Nadal win in Toronto

    Novak Djokovic, Rafael Nadal win in Toronto

    In the third set, the teenager showed great composure to break for a 2-0 lead and then saved a break point for a 3-0 margin. In other results, fourth seed and Wimbledon runner-up Kevin Anderson downed Ilya Ivashka of Belarus in straight sets.

    Tiger Woods is in hunt but laments one hole that got away

    Eldrick Woods wasn't the only "Tiger" turning heads Saturday during the third round of the PGA Championship at Bellerive . Woods got back to four under with a two-putt birdie on the par-five 17th, McIlroy doing likewise to reach three under.