techkenyot.com
techkenyot.com March 21, 2019


China to hit U.S. with tariffs on USA imports worth $17bn

08 August 2018, 11:18 | Hattie Nash

China confirmed that it will impose 25 percent tariffs on an additional $16 billion worth of imports from the U.S. from August 23, matching an earlier move from Washington in another ratchet higher for the trade war between the two nations.

The US had already levied 25 percent duties on $34 billion in Chinese goods on July 6, prompting swift in-kind retaliation from Beijing. Last week Trump threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the previously stated 10 percent.

Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of U.S. threats.

Customs officials will begin collecting the border tax August 23, the Office of the U.S. Trade Representative said. Chinese data on Wednesday showed exports to the U.S. rose 13.3% in July to $41.5 billion against a year ago.

Snapchat lost three million users in Q2 2018
After a tumultuous first year as a public company, Snap is starting to show some stability, despite the slowdown in user growth. Snap also has been redesigning its app to encourage users to interact with more of its ad-supported videos.

It is the second round of duties imposed by the countries as Washington and Beijing exchange tit-for-tat measures in an escalating trade war.

The move is the latest escalation of President Donald Trump's trade war with China.

At the same time, Beijing reported a $28.1bn trade surplus with the United States in July, just below the record $28.9bn seen in June.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

Hiroshima marks 73rd anniversary of atomic bombing
Survivors, their relatives and other participants marked the 8:15 a.m. blast with a minute of silence. Three days later, another atomic bomb was dropped on Nagasaki, killing an estimated 40,000 people.

The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S. At that time, Beijing threatened a 25 percent tariff on US crude imports, although it did not issue a specific date for the move. China has vowed to retaliate to an equal degree. The number of categories of goods subject to tariffs rose to 333 from 114 in the June draft, although the total value is unchanged.

After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

China, however, would run out of US imports to levy, as it bought only $130 billion worth of American goods previous year.

"This is a very unreasonable practice", the Chinese commerce ministry said of the USA action on Wednesday as it rolled out China's counter-tariffs.

Fallout 76 is not going to be available on Steam at launch
Fallout 76 beta will provide access to the full game, according to the official FAQ on the Bethesda website. Those still looking to secure their spot in the beta can pre-order Fallout 76 now at Mighty Ape.



Other News

Trending Now

Samsung Begins Mass Production of 4-Bit 4TB SSD for Consumers
A new round of NAND flash production at Samsung could finally make SSDs in the multi-terabyte range affordable and mainstream. A major impediment to making 4-bit NAND a reality has been the substantial performance hit due to lower charge levels.

Oscars To Launch A New 'Popular Film' Category
The 91st Annual Academy Awards, honoring the film achievements of 2018, will take place February 24, 2019. They argue the change "will not affect awards eligibility dates or the voting process".

Gates admits he cheated on wife at Manafort trial
Gates' earlier testimony on Tuesday, meanwhile, centered on how Ukrainian businessmen paid Manafort for his consultancy work. Downing also asked Gates if he had submitted personal expenses to President Donald Trump's inaugural committee.

Chinese exports accelerate as fresh USA tariffs loom
USTR said there were 279 new goods to be targeted in the dispute over China's policies promoting theft of American technology. The Trump administration has finalized a new round of 25 percent tariffs on an additional $16 billion in Chinese imports.

Trump Tweets 'Tariffs Are Working,' Can Pay Down Debt
China is proposing a 25% tariff on imports of United States liquefied natural gas, a major blow to an emerging American business. Similar to crude oil and LNG, coal was another area where Trump could have made a difference to USA exports to China.

OH 12th Congressional District Special Election Results Show Close Race
Democrats, meanwhile, have been attacking Balderson by casting his support of tax cuts as threats to Social Security and Medicare. In Kansas' 3rd District , Bernie Sanders-backed labor lawyer Brent Welder is running in a six-way primary to take on Yoder.

China, Germany defend Iran business ties as US sanctions grip
Tuesday's sanctions target Iran's purchases of US dollars, metals trading, coal, industrial software and the auto sector. The Trump tactics have deepened an already serious economic crisis in Iran, fuelling protests around the country.

Astros release statement after activating Roberto Osuna from restricted list
Hinch says Osuna will join the Astros in Los Angeles on Sunday and be activated for the series finale against the Dodgers . Osuna was placed on administrative leave May 8 after he was arrested by Toronto police on suspicion of assaulting a woman.

Disney says its new streaming service won't rival Netflix
This service will rival Netflix, though Iger has said in the past that it will cost "significantly less" than Netflix. Overall in the quarter, Disney reported net income rose 23 percent, to $2.92 billion, or $1.95 a share.

Spider-Man: Far From Home Reportedly Adds Samuel L. Jackson & Cobie Smulders
Half the Avengers died at the end of Infinity War , along with half the universe's population. Stay tuned for more on Spider-Man: Far From Home as further updates roll in.