China retaliates against Trump by slapping tariff on recyclables

China retaliates against Trump by slapping tariff on recyclables

On July 6, the US began taxing the 818 goods, worth $34 billion, remaining from the April list. US-made condoms are among the latest items Beijing is threatening to include on its US$60 billion list of American products to be hit by tariffs. Through the first six months of 2018, the total value of United States scrap exports to China was $2.2bn, down 24 percent compared to the same period previous year. China promptly said I see you and I match you - $16 billion in tariffs on US products. "That's going to be the new reality". The Trump tax cuts may have cushioned the market against trade wars, since they've boosted corporate profits and provided a tailwind to counter the headwind of tariffs. "This latest development and its impact will be discussed at the MRF Summit taking place at WASTECON in Nashville on August 22-23". Along with the trade spat, Chinese stocks have suffered from slowing growth in the debt-laden economy. United States imports of bulk drugs from China and India during 2012- 2016 recorded a CAGR of 1.4% and 4.5%, respectively.

After complaints by Chinese leaders, Trump agreed to reverse a U.S. enforcement action that would have caused ZTE, a prominent state-owned telecom company, to go out of business.

"There are only two hard outcomes so far and China's winning 2-0", Moon said.

Efforts are being made to finish the negotiations by the end of the month. The financial pain so far has been felt by individual companies or industries - and their workers - rather than by either the overall United States or Chinese economy.

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

Man Utd boss Mourinho: I wanted to give Martial minutes
The Red Devils kicked off the new Premier League season with a 2-1 victory over the Foxes. As I was saying on BBC Radio 5 live on Friday, United have a very strong squad.

So far, China has now either imposed or proposed tariffs on US$110 billion of U.S. goods, representing the vast majority of its annual imports of American products. Soon after, a list of USA products was issued that will suffer a 25% increase in taxation.

The threat of increasing protectionist measures may have also prompted China to open up its market to Indian pharmaceutical industry.

With China's National Grain and Oil Information Centre estimating total marketing year imports at 92.8 million mt and the Chinese ministry of agriculture at 96 million mt, August and September imports will be between 16-19 million mt.

But the Chinese government can employ other tools if the conflict continues.

While the policies have drawn loud complaints from USA companies that have become reliant on imports from China, they have been forcing multinationals to rethink their supply chains and start moving them away from China. But do not expect USA condom makers to wilt under the pressure. "In order to defend China's rightful interests and the multilateral trade system, China has to retaliate as necessary", it said.

Related news:

Hot News

isis-killer-beheading-video-story-top Argentina´s senate rejects bill to legalise abortion
Aug 12, 2018 - 00:00
Pope Francis , a native of Argentina, also largely stayed on the sidelines, except for a strong denunciation of abortion in June. A few supporters of abortion rights threw missiles and rocks at police, who retaliated by firing tear gas and water cannon.

isis-killer-beheading-video-story-top QUICK TAKE: SEC Cautious On Bitcoin ETF
Aug 11, 2018 - 23:56
At time of writing, the total market cap is at $221,803,776,183 (4pm, ET), down about 11 per cent in 24 hours. After the SEC postponed its decision on a Bitcoin 00 ETF Wednesday, a bearish dip ensued.

isis-killer-beheading-video-story-top Jury awards $289 million to man who said Roundup gave him cancer
Aug 11, 2018 - 23:49
A terminally ill man has been awarded $289 million in the first cancer-related trial against agricultural giant Monsanto . They said he even once contacted Monsanto after developing a rash, and wasn't told of any risk, the AP reported.

isis-killer-beheading-video-story-top Photos Of This Star Golfer’s Girlfriend Going Viral During PGA Championship
Aug 11, 2018 - 22:29
Key statistic: Tiger Woods is the only player to win the PGA Championship back-to-back in stroke play. If nothing else, Johnson pointed out Tuesday that he'll have plenty of extended family in the crowd.

isis-killer-beheading-video-story-top Jose Mourinho praises 'monster' performance from Paul Pogba
Aug 11, 2018 - 22:04
Fittingly, Paul Pogba's first ever goal in the EPL came against Leicester during the 2016 Season. Of Pogba's penalty, which came after just 75 seconds, he said: "A very good penalty taker".

isis-killer-beheading-video-story-top Zimbabwe's Chamisa challenges election result
Aug 11, 2018 - 21:52
The Constitutional Court now has 14 days to rule on the legal challenge by the Movement for Democratic Change (MDC). Mr Chamisa wants the court to declare him the victor or call a fresh election, it is reported.

isis-killer-beheading-video-story-top Airbnb threatens to ban users participating in 'Unite the Right' rally
Aug 11, 2018 - 20:18
Preparations have been in the works for Sunday's event for months between law local enforcement agencies, U.S. One counter-protester, Heather Heyer , was killed when a rally-goer allegedly plowed his auto into a crowd.

isis-killer-beheading-video-story-top FC Barcelona To Wait For Manchester United Star Paul Pogba?
Aug 11, 2018 - 19:14
Yerry Mina was offered by Barcelona to United and a number of other clubs before the World Cup for €11m in an attempt by the Spanish champions to get their money back on a player they signed in January.

isis-killer-beheading-video-story-top Mourinho Expects "No" Players To Sign For Manchester United Today
Aug 11, 2018 - 17:53
Jose Mourinho was left disappointed after United failed to bring in a new signing before the transfer window closed. Manchester United manager Jose Mourinho has stated that he does not expect to sign a player today.

isis-killer-beheading-video-story-top Airline employee 'steals plane from major United States airport and crashes into island'
Aug 11, 2018 - 14:14
The sheriff said the pilot appeared to have acted alone and was likely killed in the crash . The man also said he had no flying experience - but had "played some video games before".

isis-killer-beheading-video-story-top Deadline day round-up: Everton shop in Barcelona, busy Fulham welcome five
Aug 11, 2018 - 12:58
Bernard, 25, left Shakhtar Donetsk when his contract expired and had been linked to a host of European clubs. Barcelona have confirmed that they have reached an agreement to sell Yerry Mina to Everton for €30 million.

isis-killer-beheading-video-story-top Mesut Ozil named Arsenal co-captain by boss Unai Emery
Aug 11, 2018 - 11:46
Emery urged fans to go into the City game and the season with optimism and said he wanted his players to take one step at a time. And the former Paris Saint-Germain and Sevilla coach has stressed the importance of Arsenal being on the front foot.

isis-killer-beheading-video-story-top Whitmer Wins Democratic Primary In Governor's Race
Aug 11, 2018 - 11:39
Whitmer, the first-ever female leader of a MI state Senate caucus, beat back challenges from former Detroit health director Dr. Gretchen Whitmer has won the Michigan Democratic nomination for governor, according to the Associated Press .

isis-killer-beheading-video-story-top Rains to intensify; Red Alert in 7 districts
Aug 11, 2018 - 11:19
While the first shutter was opened on Thursday - the first time in 26 years - the remaining sluice gates were opened on Friday. The full reservoir level is 2,403 feet and storage capacity is 69,268 Mcft and storage percentage is 97.61 per cent.

isis-killer-beheading-video-story-top Here Are The Terms Of Tom Brady’s Reworked Contract
Aug 11, 2018 - 11:08
It's a major blow for the Redskins going into a critical season for Jay Gruden's offense directed by new quarterback Alex Smith . Guice injured his left knee at the end of a first-quarter run in Thursday's preseason opener against the New England Patriots .