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Post by Admin on Aug 8, 2018 18:17:07 GMT
The Trump administration said it’s weighing whether to increase the proposed tariff on $200 billion of Chinese goods to 25 percent from 10 percent, stepping up pressure on Beijing to change its trade practices. Bloomberg's Sarah McGregor reports on "What'd You Miss?"
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Post by Admin on Aug 10, 2018 18:04:25 GMT
China struck back Wednesday at the U.S. with $16 billion in retaliatory tariffs, exactly matching President Donald Trump's latest escalation in the ongoing international trade war. The Chinese Ministry of Commerce declared a 25 percent levy on certain U.S. goods, including coal, crude oil, automobiles, motorcycles and scrap metal. The move follows the U.S. Trade Representative's office publishing its final list on $16 billion in Chinese goods, effective Aug. 23. That comes on top of $34 billion in tariffs against China already in effect, bringing the total to $50 billion. The White House has also released a list of $200 billion tariffs under consideration, with Trump saying he could go after the entire $500 billion worth of goods the U.S. imports from China annually.
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Post by Admin on Aug 25, 2018 18:22:50 GMT
Australia risks getting caught in the crossfire as the world's two biggest economies move ahead with tariffs on large swathes of each other's exports in a dispute that shows little sign of ending anytime soon. Australia thrives on selling goods to countries around the world — particularly to China, which sucks up about a third of Australian exports every year. "Australia's success has largely depended on the rest of the world," said Paul Dales, a Sydney-based economist at research firm Capital Economics. "It's a small, open economy that gets pushed and pulled around."The resource-rich country has benefited hugely from China's voracious appetite for goods ranging from iron ore and copper to milk and wine. Chinese visitors also spend billions of dollarsper year in Australia. Demand from China for Australian raw materials has helped boost the profits of mining giants like BHP Billiton (BBL) and Rio Tinto (RIO). But concerns are mounting. The Australian dollar has lost almost 10% against its US counterpart since the end of January, which analysts say is partly because of fears that an escalating trade war will hurt global growth and dent demand for Australian goods.
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Post by Admin on Sept 1, 2018 18:07:03 GMT
President Donald Trump on Friday confirmed “insulting” comments that he’d first made off the record regarding his unwillingness to work with Canada on the North American Free Trade Agreement. During an interview with Bloomberg News on Thursday, Trump said he was not willing to compromise with Canada on revising NAFTA. He put those remarks “off the record,” but they were quickly leaked to the Toronto Star. “Here’s the problem. If I say no ― the answer’s no,” Trump said about a possible compromise. “If I say no, then you’re going to put that, and it’s going to be so insulting they’re not going to be able to make a deal. ... I can’t kill these people.” Any potential trade deal with Canada would be “totally on our terms,” he said, and expressed his pleasure with his current strategy of repeatedly threatening to impose tariffs, according to the Star. “Off the record, Canada’s working their ass off,” Trump said. “And every time we have a problem with a point, I just put up a picture of a Chevrolet Impala.”
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Post by Admin on Sept 19, 2018 18:14:46 GMT
The US is imposing new tariffs on $200bn (£150bn) worth of Chinese goods as it escalates its trade war with Beijing. These will apply to almost 6,000 items, marking the biggest round of US tariffs so far.
Handbags, rice and textiles will be included, but some items expected to be targeted such as smart watches and high chairs have been excluded.
The Chinese commerce ministry said it had no choice but to retaliate.
The ministry said that it hoped the US would correct its behaviour, but did not specify what actions it would take. The US taxes will take effect from 24 September, starting at 10% and increasing to 25% from the start of next year unless the two countries agree a deal.
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