techkenyot.com
techkenyot.com January 17, 2019


Running Out of Tariff Options, China Takes Aim at American Companies

14 September 2018, 08:52 | Hattie Nash

Running Out of Tariff Options, China Takes Aim at American Companies

Chinese President Xi Jinping and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan arrive at the presidential palace in the UAE capital

While no concrete details were revealed by either side, potential new talks would be aimed at staving off the next round of US$200 billion in punitive duties from the USA expected this month - the largest tariff measure in the intensifying trade war so far - and US$60 billion in retaliatory tariffs from China.

China is locked in a bitter trade war with the United States and has vowed repeatedly to uphold the multilateral trading system and free trade, with the WTO at its center. They plan events in Chicago, Nashville, Pennsylvania and OH starting next week, according to a statement posted on a new website.

The U.S. -China Business Council (USCBC), a nonpartisan non-profit representing around 200 American companies, told Observer that, in recent weeks, the council has been hearing from U.S. companies about delays and challenges getting licensing approvals in China.

The coalition posted a searchable map linking users to stories from farmers and businesses saying they're harmed by tariffs. Mr. Trump threatened to increase that number by another $267 billion to bring the total tariffs to an amount equal to all of China's annual exports to the U.S. The administration already imposed tariffs on $50 billion of Chinese goods, slapped tariffs on aluminum (10 percent) and steel (25 percent), and raised duties on washing machines (up to 50 percent) and solar panels (up to 30 percent).

AmCham chairman William Zarit said American business leaders in China want Trump to rethink the levies he has proposed on an additional $200 billion in Chinese imports, including many consumer goods. The White House is pushing tariffs as a powerful negotiating tool for winning what it says are better trade deals for all Americans. American officials also worry they might erode USA industrial leadership.

Missy Elliott and her ‘funky white sister’ collaborate for ‘Ellen’ performance
Halsey said she's been singing the song for 15 years, and calling herself Elliott's "funky white sister" for the same amount of time.

A U.S. Treasury spokesman did not respond to requests for comment.

Just six percent, meanwhile, said they would consider moving factories to US soil.

In a survey by two American chambers of commerce in China, almost two-thirds of USA firms who responded said the waves of new tariffs have harmed their business. "The US administration will be hurting the companies it should be helping".

The tariffs on washing machines have hit consumers.

Prices for washing machines jumped 16.4 percent from February to May, the most rapid three-month increase in the 40-year history of the Bureau of Labor Statistics' index for laundry equipment. "Likewise, Trump's ill-advised trade war, which started in January when he approved the tariffs on imported washing machines, is really largely a war on Americans".

Anniversary of deadly 9/11 attacks gives ‘perspective’ as NAFTA talks resume: Freeland
The dairy system, or supply management as it is known, falls outside of the North American Free Trade Agreement (Nafta). Lighthizer said on Monday Mexico had agreed to cut the mechanism but Canada wants to keep dispute resolution in NAFTA.

He said on Twitter that a Wall Street Journal story on Wednesday about the talks invitation from Treasury Secretary Steven Mnuchin amid rising USA political pressure on Trump to ease up on trade fights "has it wrong".

The invitation, first reported by the Wall Street Journal, comes amid a swelling chorus of opposition to tariffs from Western business circles.

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", Mr Trump said in a tweet on Thursday. Mr. Trump said the newspaper got it wrong about which side is under pressure to deal.

"I think most of us think it's better to talk than not to talk, and I think the Chinese government is willing to talk", Kudlow said, declining to provide any further details.

The possible resumption of negotiations sent Asian markets rallying with Hong Kong surging 2.5 per cent - having fallen for six straight days and into a bear market - and Shanghai more than one per cent higher.

NHL Rumors: Senators Trade Erik Karlsson To San Jose Sharks
Karlsson, 28, has one year left on his contract and has been the subject of rumors dating to the trade deadline. The 19-year old Norris was drafted 19th overall in the first round of the 2017 draft by the Sharks.

Trump said last week he could move "very soon" to impose tariffs on an additional $200bn (£153bn) worth of products with taxes on another $267bn "ready to go on short notice".



Other News

Trending Now

Why Hurricane Florence Is So Dangerous
Graphic shows the storm track of Hurricane Florence. "Now it might be time for the exam", he said. "We are sparing no expense". The storm was about 235 miles east-southeast of Wilmington, North Carolina and was moving at about 17 mph on Thursday.

Oil hits $80 as Iran fears mount
Energy Information Administration (EIA) cut its forecast for U.S. crude output growth in 2019. Brent crude futures rose US$1.69, or 2.2 percent, to settle at US$79.06 a barrel.

Is Nintendo ready to talk about its online service?
Nintendo uses Direct events to connect with users and inform them of company performance, new products, and ongoing issues. Famitsu reports that Nintendo has sold 5,007,368 units of the Switch since its release on March 3 previous year .

Arsenal boss Emery addresses Ozil rift; Man City groundsman claim
I want to push them, I want to be demanding to prepare this match - Mesut the same'. Emery insists he has had no talks about Gazidis leaving.

Afraid of the needle? CDC approves flu shot alternative
So, the best time to get a flu shot is as soon as possible - and you might even be able to get it for free through your insurance. To study the question, the investigators looked at a database of patients over seven flu seasons, from 2010-2011 to 2016-2017.

United Nations : 30,000 displaced in Syria ahead of planned Idlib offensive
The global community fears Assad and his allies are preparing to carry out a final assault on the province. Haley said the Astana process has failed "to stop the violence or to promote a political solution".

Sickening discovery in meal costs restaurant chain millions
A simmering pot of hot soup is placed at a dining table and various vegetables and raw meats are then placed in the pot to cook. In a statement , the restaurant said they took food safety seriously and were making changes.

Kavanaugh hearing ends with Democrats saying abortion rights, executive power at stake
And he cleared up any remaining doubt on the second day of his confirmation hearing - despite the fact that nearly no one noticed. Today's times are different, they are undoubtedly decisive, and the gap of division competes in size with the Grand Canyon.

Jenna Cooper Speaks Out After Her Split From Jordan Kimball, Denies Cheating
You might also know that prior to the " Paradise " finale, texts between Jenna and her alleged side guy were leaked. Stanton is the mother of two children and was once engaged to former " Bachelor " star Josh Murray .

The New $1,449 iPhone Won't Include A Free Headphone Dongle
The iPhone Xs Max (iPhone 11,6) impresses even further in Geekbench tests, thanks to that extra gigabyte of RAM. It was smaller and more lightweight than other iPhones, too, still sporting the well-regarded iPhone 5 design.