World Media

Trump defends China tariffs and claims 'great patriot farmers' will reap benefits

Trump defends China tariffs and claims 'great patriot farmers' will reap benefits

Trump is wrong when he says tariffs are good for our economy because China is paying us "hundreds of billions of dollars" in tariff revenue - money he can use to help farmers withstand the blow of lost sales to Beijing.

He responded with a tariff hike on $200 billion of goods and a threat to put to put penalties on $325 billion of other items, essentially promising blanket tariffs on Chinese products of 25 percent.

Finished electronics have avoided the Trump administration's tariffs on goods imported from China, but soon that may not be the case.

Goods that will be affected by the 25% rate include liquefied natural gas (LNG), soy and peanut oil, petrochemicals and frozen vegetables, as well as cosmetic products.

Washington fired the first shot at the beginning of 2018 when Trump chose to hit rivals and allies alike with tariffs on solar panels, washing machines, steel and aluminum under Section 201 and 232 of the Trade Act.

Over the weekend, White House economic adviser Larry Kudlow contradicted Trump, suggesting it's the USA that will pay for tariffs on goods coming into the us, as opposed to China.

China and the US began official economic and trade consultations in February 2018 and after four rounds of high-level talks reached their first trade truce in May.

Benchmark U.S. 10-year Treasury notes last fell 3/32 in price to yield 2.4139%, from 2.405% late on Monday.

Speaking several hours later at a dinner gathering at the White House, Trump said it should be clear in "three or four weeks" if a U.S. trade delegation's trip to Beijing two weeks ago was successful.

President Trump told reporters on May 13 that he would meet with Chinese leader Xi Jinping at the G20 summit in Japan in June, adding that he expected it would be a "fruitful meeting".

Trump 'to sign order' allowing telecom ban
Furthermore, concerns about Chinese law requiring Huawei to cooperate with China's intelligence agencies were simply hype. Ren Zhengfei, the company's founder and Meng's father, has denied espionage allegations and a link to China's government.

All of that is very harmful to the entire United States economy", he said on "Cavuto: "Coast-to-Coast" Tuesday.

The president also acknowledged that US farmers may be impacted by the trade war, saying that the administration would use income from the new levies to support the farmers.

"We are in a much better position now than any deal we could have made".

Trump insisted trade talks with China had not collapsed, while China's Foreign Ministry spokesman said the two sides had agreed to continue pursuing relevant discussions.

The Trade Partnership Worldwide study found that the US faces a net loss of more than 2.2 million jobs if all tariffs continue and cause a sales decline.

Trump said Tuesday on Twitter, "Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now". "We're embedded together economically". "But suddenly a number of other scenarios seem possible, even one in which the U.S., China and the global economy suffer a recession".

"They know that China has to live by the rules of worldwide trade just like the United States and nearly the rest of the world does".

The two governments have given themselves a few more days to make peace before their latest tariff hikes hit. "We always win. We always win", he said.

"Make your product at home in the US and there is no Tariff", Trump wrote in a series of tweets this week, adding, "My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn't make any sense". "They will cause a lot of self-inflicted harm and are hard to sustain in the long term".


  • Nation wide curfew imposed as communal violence hits Sri-Lanka

    Nation wide curfew imposed as communal violence hits Sri-Lanka

    In a televised address, Police Chief Chandana Wickramaratne warned that officers would respond to rioters with maximum force. Muslims make up almost 10 per cent of Sri Lanka's population of 22 million, which is predominantly Buddhist.
    Disturbing video shows elderly man pushed off bus, dies from injuries

    Disturbing video shows elderly man pushed off bus, dies from injuries

    Serge Fournier was shoved from a bus in Las Vegas and died of his head injuries in hospital a just over a month later. A judge has ordered Bishop be held on $100,000 bail pending a preliminary hearing of evidence on May 21.
    NDSU Softball headed to Minneapolis Regional

    NDSU Softball headed to Minneapolis Regional

    Missouri is 3-16 all-time against UCLA, most recently losing 11-3 in six innings February 22 at the Mary Nutter Classic. Reigning national champion Florida State (51-8), the only other team to beat Oklahoma this season, is the No. 4 seed.
  • Jose Mourinho: A nice guy manager can end up becoming a puppet

    Jose Mourinho: A nice guy manager can end up becoming a puppet

    I tell him every day what it means to wear the tracksuit, not even the shirt, just the tracksuit and what it represents. By the end, they were barely on speaking terms.
    Jet Airways CFO Amit Agarwal quits

    Jet Airways CFO Amit Agarwal quits

    In its regulatory filings, the airline said Dube and Agarwal resigned due to personal reasons, without providing further details. The airline ceased operations temporarily around mid-April due to acute liquidity crisis.
    Guardiola targets three players for Manchester City - UK reports

    Guardiola targets three players for Manchester City - UK reports

    It is also yet unknown as to whether or not the ban would be for the upcoming season or the 2020/21 campaign should it be upheld. Manchester City would have the right to appeal against any such ban in the Court of Arbitration for Sport.
  • Jeremy Kyle show suspended indefinitely after guest dies following filming

    Jeremy Kyle show suspended indefinitely after guest dies following filming

    The programme attempts to mediate an array of issues and conflicts between family and friends in front of studio audience. The show was recorded on May 2 but Ms Callaghan revealed she last saw him four days before he was found dead last week.
    Australian dies in Alaskan plane crash

    Australian dies in Alaskan plane crash

    The National Transportation Safety Board said it was launching a "Go Team" to investigate the cause of the accident. Emergency response crews transport an injured passenger to an ambulance at the George Inlet Lodge docks.
    Leaders address online extremism in wake of Christchurch shooting

    Leaders address online extremism in wake of Christchurch shooting

    A French presidential source said it was time for tech companies to "anticipate how their features will be exploited". Create a "violent extremist and terrorist content" category users can select when flagging inappropriate content.
  • Karl Anderson Posts Interesting Message Hours After AEW On TNT Announcement

    Karl Anderson Posts Interesting Message Hours After AEW On TNT Announcement

    What is officially known, however, is that it will be a live weekly show beginning later this year, presumably in the fall. We caught up with Brandi and Cody Rhodes earlier today at the WarnerMedia TV Upfronts in New York City.
    Madonna Eurovision performance in doubt

    Madonna Eurovision performance in doubt

    I hope and pray that we will soon break free from this bad cycle of destruction and create a new path towards peace", she added. Tel Aviv was confirmed as the host city for this year's 64th Eurovision Song Contest last September.
    Saudi Arabian Oil Pipeline Attacked by Drones - Minister

    Saudi Arabian Oil Pipeline Attacked by Drones - Minister

    But aside from that, there is the risk of rising tensions in the region. "Thousands could die": Are US and Iran headed for war? The UAE minister of state for foreign affairs, Anwar Gargash, said the Emirates will probe the "deliberate sabotage".