techkenyot.com
techkenyot.com November 18, 2018


China's Trade Surplus With the US hits record high

14 July 2018, 03:58 | Glen Norman

How a trade war with China hurts US farmers

How a trade war with China hurts US farmers

China's total exports rose 11.3% year-on-year in June, beating a Bloomberg News forecast of 9.5%.

The United States has started a trade war and China will defend itself, Chinese vice-minister of commerce Wang Shouwen said on Thursday (July 12), urging the United States to "take the gun" of tariffs away to smooth the way for talks.

Against this overall background, Australia is in the fortunate position of avoiding a trade dispute with the USA and largely being spared from the impact of the new U.S. tariffs.

"Those talks produced progress, so much so that the U.S. government said they would put the trade war on hold, but all of a sudden an announcement was made to impose tariffs on imports from China".

Beijing said China's surplus with the USA hit an all-time high $28.97 billion last month, while exports to the country hit a record $42.62 billion. So far China has responded in kind, adding tariffs to $34bn of goods from the USA and threatening "firm and forceful measures" to match the threat of tariffs on $200bn worth of United States exports.

France, Italy reject Trump's claim on North Atlantic Treaty Organisation spending boost World 08:51
Trump later called the meeting a "success". "The numbers have gone up like a rocket ship. and they're going to be going up further", he said.

Last week, the United States and China introduced tariffs of 25 percent on $34 billion of each other's exports.

For January-June, it rose to $133.76 billion, compared with about $117.51 billion in the same period previous year.

US President Donald Trump had already threatened to impose additional tariffs if China - the world's largest exporter - retaliates. They said as a outcome figures for July and August were likely to show a decline in exports to the US.

Earlier this week Donald Trump proposed a 10% tariff on $200bn of Chinese goods entering the United States, saying that tariffs already in place on steel and aluminium imports and $34bn of goods had failed to force significant reforms by Beijing.

China's trade surplus with the United States, which is at the center of the tariff tussle, widened to a record monthly high of $28.97 billion, up from $24.58 billion in May, according to Reuters calculations based on official data going back to 2008.

Trump, May pledge cooperation on trade after explosive interview
Khan approved a request for a giant blimp depicting Trump as an orange baby to fly over London during protests on Friday. Trump then heads to Windsor Castle later Friday for tea with Queen Elizabeth II.

China's June trade grew by double digits amid mounting tensions with Washington but Beijing warned its exporters to face "rising instabilities and uncertainties".

However, a lower yuan would make it more expensive for China to import U.S. goods.

China's foreign trade faces risks of slowing in the second half of the year, General Administration of Customs spokesman Huang Songping told a news conference, though he said Beijing was capable of handling challenges.

"So we would be back to square one", Mr Kuo said, with China exporting more to the United States than it buys from the country.

Canada to head new North Atlantic Treaty Organisation mission in Iraq
Canada also contributes mobile training teams to NATO's counter-improvised explosive device capacity building efforts for Iraq. The current force battling the Islamic State in Iraq and Syria consists of about 9,000 troops, some 5,000 of who are American.



Other News

Trending Now

There Will Only Be 1 Blockbuster in America Soon
But ultimately, it wasn't enough. "You would not believe how much business we got just from that memorabilia alone", he said. By this year, only a pair in Alaska and the final OR store had endured.

Chelsea part ways with Conte
Chelsea FC will be looking to at least break back into the top four next season after their disappointing campaign last term. The report claimed that Sarri will be announced as the new Chelsea manager within the next 48 hours.

A BLIMP depicting Donald Trump as a baby flies over Westminster
Protesters against Trump's visit gather near an entrance to the USA ambassador's residence in Regent's Park in London on Thursday. Trump has been getting around by helicopter to avoid the protests in central London.

Anderson tops Isner 26-24 in 5th in epic Wimbledon semifinal
Anderson had already won the first point of the game but was blown back while returning yet another of Isner's monstrous serves. South Africa's Kevin Anderson hugs John Isner of the United States, right, after the longest Wimbledon semi-final in history.

Mystery surrounds black granite sarcophagus found with alabaster head
This recent finding has left experts baffled because it measures nine foot long and that they do not know who or what lies inside. Every discovery paints in a little more of the detail about how people lived and worked in these ancient times.

Trump accused of trying to bully Europe into buying US LNG
And the former Chancellor of Germany is the head of the pipeline company that's supplying the gas. He said he also mentioned tripartite talks [on gas - EU-RF-Ukraine], which they will hold.

‘Downton Abbey’ Movie With Original Cast Finally Gets Greenlight
But life goes on, and so there are more stories to tell about the Crawley family and their servants. Bates having a baby, Dockery's Mary expecting her second child, Edith marrying, and so much more.

North Atlantic Treaty Organisation survives Trump, but the turmoil is leaving scars
And we stressed our well-known concerns about Nord Stream 2, Sefcovic said at a press conference on Thursday after the EU-U.S. He also wrongly stated he had achieved an increase in defense spending by USA allies, when no such agreement was reached.

Chelsea Sacks Antonio Conte, Set To Appoint Maurizio Sarri As Coach
Reports have emerged that the Italian will leave Stamford Bridge and the club have refused to comment on the 48-year-old's future. The Conte era at Chelsea was marked by plenty of stress and strife, with talk of his exit commencing as far back as last summer.

Nets reportedly send Lin to Hawks, acquire two from Nuggets
Along with Lin, the Nets will give the Hawks a 2025 second-round pick and the right to swap picks in 2023, per to the report . In 67 games last season, Schroder averaged a career-best 19.4 points per game, in addition to 6.2 assists and 3.1 rebounds.