From natural gas to chicken breasts - China commodity tariffs

Enlarge this image

Enlarge this image

"President Trump inherited an unfair trade regime where American workers and American companies were not treated reciprocally or fairly by the Chinese, and the efforts of the Trump administration are to right that, to correct that", Pompeo told reporters on the sidelines of a regional forum in Singapore. "China market has dropped 27% in last 4 months, and they are talking to us".

Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of imports from America if the US delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of Finance said in a statement on its website late Friday. Neither side is showing any sign of backing down.

Many economists say that Trump's focus on trade deficits is misguided and that large trade deficits simply show increased domestic demand.

One Mahoning Valley expert said the Chinese tariffs would have a negative impact on businesses in the region.

Commenting on the latest US move to add some Chinese companies into its list of entities subject to USA export controls, the MOC said that China stands firmly against USA unilateral sanctions on Chinese entities.

But as is common with his Twitter posts, some of his claims were either unproven or incorrect.

The lack of negotiations is compounded by the fact that Trump and the White House have not articulated clear goals for the trade fight with China.

China's state media on Monday lashed out at the policies of US President Donald Trump in an unusually direct attack, accusing him of "starring in his own carefully orchestrated street fighter-style deceitful drama".

Police say woman in Missouri was not missing Iowa student
That effort included sifting through data from her cellphone, social media accounts and a Fitbit, a physical activity tracker. Police say Tibbetts was last seen wearing dark colored running shorts and running shoes.

"Leading China's economy on a stable and far-reaching path, we have confidence and determination", another commentary in the main edition of the People's Daily said. While denouncing the USA leader's actions, Beijing is also using its media to calm markets and express concern about the impact on the Chinese economy. USA business and farm groups, which do extensive business with China, have complained for months about Trump's strategy, but there are no signs that the Chinese government is paying for a campaign in the United States. The country exported about $500bn in goods to the United States and imported about $130bn.

Trump also cited losses in China's stock market as he predicted that the U.S. market could "go up dramatically" the moment trade deals were renegotiated. "We win either way".

But Trump raised the stakes this week with his threat to raise the tariff rate.

It was the latest in a series of tariffs, with the first being imposed by Trump back in early February.

Tariffs on another $16bn worth of products are pending, the second part of tariffs on $50bn worth of imports that the U.S. announced in March. It's a "race to the bottom that will harm American consumers, farmers and USA industry".

This could drive USA importers to stop bringing in certain goods because they are too costly, hurting the foreign manufacturers, but those foreign companies do not pay the tariffs, and neither do the foreign countries where those companies are based. But the tariffs are essentially taxes on American businesses (and consumers), not on foreign governments.

The White House is now negotiating with South Korea and the European Union regarding trade agreements for soy beans, energy products, steel and aluminum.

Recommended News

  • Wild brawl at nail salon

    Wild brawl at nail salon

    Meanwhile, the Facebook page for New Red Apple Nail salon has been flooded with negative reviews and backlash over the incident. The women were dissatisfied with the service from the salon and ultimately, refused to pay $5 for a "f**ked up" eyebrow job.
    Chelsea needed Jorginho more than Man City - Sarri

    Chelsea needed Jorginho more than Man City - Sarri

    Sarri, who has not won a trophy in his career, said: "The match for us is very hard for one reason: they have worked all together for two years".
    India takes control of 1st Test vs England

    India takes control of 1st Test vs England

    But he fell for 20 when, squared up by Sharma's superb outswinger from around the wicket, he was caught in the gully. At the break, Jos Buttler (1) was the last unbeaten recognised batsman. "The good thing was I had overs behind me".
  • 20 killed in plane crash in Swiss Alps

    20 killed in plane crash in Swiss Alps

    Swiss media have been citing plane experts' speculations that the current heat wave may have contributed to the crashes. The Junker Ju-52 aircraft smashed into a mountainside near the resort of Flims in the east of the country on Saturday.
    Health department says mosquitoes with West Nile virus found in Kentucky

    Health department says mosquitoes with West Nile virus found in Kentucky

    While doctors may prescribe painkillers, no vaccine has yet been discovered to treat the infection. West Nile virus, spread by the bite of an infected mosquito, can affect a person's nervous system.
    Jurgen Klopp hopeful Roberto Firmino can be ready for Reds season opener

    Jurgen Klopp hopeful Roberto Firmino can be ready for Reds season opener

    Liverpool: Alisson 6, Clyne 6, Gomez 6, Van Dijk 6, Robertson 6, Wiljnaldum 7, Milner 7, Keita 7, Salah 8, Mane 7, Firmino 7. Liverpool geared up for the new season with a thumping 5-0 win over Italian side Napoli .
  • Manchester United Set To Complete Toby Alderweireld Signing In Next 48 Hours

    Manchester United Set To Complete Toby Alderweireld Signing In Next 48 Hours

    And this development has led to United calling off their pursuit of Mina and turning their attention back towards Alderweireld. Toby Alderweireld had an incredible World Cup where he played a key role in helping Belgium finish third.
    Tiger Woods Is Through 9 Holes In Final Round - Here’s His Score

    Tiger Woods Is Through 9 Holes In Final Round - Here’s His Score

    Woods had a day to forget. "I felt like even the first two rounds I played OK, but I struggled on the greens a little bit", Johnson said.
    Many Items to Qualify as Tax-Free over Weekend of August  3-5

    Many Items to Qualify as Tax-Free over Weekend of August 3-5

    During that time, customers can avoid paying the 6% state sales tax, as well as local tax when buying qualified clothing items. The gift certificate can be used at any of the participating chamber businesses and works just like cash or a gift card.
  • Corey Coleman's message as he preps to join Bills

    Corey Coleman's message as he preps to join Bills

    The teams did not disclose what the Bills sent to the Browns, but ESPN's Adam Schefter reported the compensation Monday morning. You can also add defensive tackle Phil Taylor, the Browns' first-round pick in 2011, to that list.
    Donald Trump warns countries against doing business with Iran

    Donald Trump warns countries against doing business with Iran

    Iran's currency has lost around half its value since Trump announced the United States would withdraw from the nuclear pact. A second wave of sanctions that will more directly target Iran's petroleum industry is set to go into effect in 90 days.
    Mueller offers Trump team new proposal for interview

    Mueller offers Trump team new proposal for interview

    Giuliani said. "We have every reason to believe they don't have anything of the President doing anything wrong". He said that FBI Agent Peter Strzok (on the Mueller team) should have recused himself on day one.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.