China Warns of 'Countermeasures' in Response to New US Tariffs

Trump hits China with $200 billion in tarrifs and threatens more if Beijing retaliates

The original justification for the U.S. tariffs was supposed to be Chinese violations of United States intellectual property, explained Derek Scissors, an expert on China's economy and USA economic relations with Asia and a resident scholar at the American Enterprise Institute. "We deeply regret this".

China's foreign ministry vowed Monday to strike back if Trump presses ahead with plans to impose duties on another $200 billion in Chinese imports, which would leave about half of everything the United States buys from China subject to tariffs.

At the root of the trade war are USA complaints about China's plans to try to overtake United States technological supremacy.

Amid continued trade tensions with the world's second largest economy, Trump "has not been satisfied with the talks with China on this (and) my guess is announcements will be coming soon", economic advisor Larry Kudlow said earlier Monday on CNBC.

Analysts said Xi's defiance reflects his desire to present China to the world as a superpower.

"China has had many opportunities to fully address our concerns", Trump said in a statement.

Trump made the accusations in a pair of Twitter posts as the two sides launched new trade tariffs in an escalating trade dispute. And in a victory for Apple Inc., the administration removed smart watches and some other consumer electronics products.

That would raise the total affected by U.S. penalties to Dollars 517 billion, covering almost everything China sells to the United States.

At nearly the same time the tariff list was released in Beijing, President Donald Trump on Tuesday threatened more counter-measures against China if it targets politically potent US agricultural products for retaliation.

USA steel production is over half what it was in the early and mid 1970s. It brings all Chinese imports subject to added tariffs to $250bn, roughly half of China's shipments to the USA a year ago.

At the same time, the administration said it is still open to negotiations with China.

"That's why we continue to urge everybody, whether they are those who engage in market distorting subsidies, or whether they are those who might talk about or pursue multi-lateral tariff actions, to think carefully about the consequences of doing so".

Treasury Secretary Steven Mnuchin had invited the negotiators to Washington this week to resume talks.

'Unbelievable' call infuriates Packers and exposes real National Football League problem
For the Vikings , Carlson had the chance to win the game in Green Bay in overtime and spoil Aaron Rodgers's one-legged heroics. The thing is, Matthews was right: The Packers had opportunities to win the game. "It has nothing to do with helmet to helmet.

Liverpool exploits Tottenham's World Cup fatigue for 5th win
However, at 2-0 ahead and cruising, Spurs' Erik Lamela somewhat dampened Liverpool's satisfaction with his 93rd minute goal. We play PSG and they won yesterday without Neymar and Mbappe, so they can rest players in the league.

Brett Kavanaugh’s accuser comes forward in explosive report
The White House said Monday that they were willing to listen to Ford's allegations after she identified herself over the weekend. Heitkamp, who's facing a challenge from Cramer this fall, has not said how she'll vote. "I loved sports", Kavanaugh responded.

"It appears that the administration responded to some industry concerns, but for many American businesses and consumers this still represents a rapid acceleration of costs and much higher uncertainty", said Rufus Yerxa, president of the National Foreign Trade Council.

Trump's announcement landed in China on September 18, a day considered the start of Japanese aggression 87 years ago and an anniversary some Chinese see as an informal day of national humiliation.

"Although the Prime Minister is about to head off to NY that is not Washington - she is not visiting America, she is visiting the United Nations".

US President Donald Trump threatened in July to impose tariffs on thousands of Chinese products as the US seeks to overcome a US$376 billion trade deficit between the countries, and to discourage what he says are unfair trade tactics used by the Chinese government.

China has maintained that it is well positioned to withstand blows in a geopolitical tussle, even as the nation's growth is projected to slow this year.

The Finance Ministry said it was going ahead with plans announced in August for the increases of 10 per cent and 5 per cent on 5,207 types of USA goods. "However, it will also hurt China itself".

After months of failed trade talks, top officials from China and the United States were tentatively scheduled to talk this month in Washington.

But the news sent Chinese stocks tumbling more than one percent on Monday, with the benchmark Shanghai Composite Index falling to 2,651.79, the lowest level since 2014.

Beijing has warned that it would hit an additional $60 billion in American goods if Trump ordered more tariffs.

The US-China trade war could have some impact on the prices Kiwi pay for goods due to the interconnected nature of global supply chains, an expert warns.

"The Chinese authorities likely feel no urgency to give in and agree with all the terms the US side requested", Zhiwei and Yi wrote.

Global markets reacted to the latest trade war escalation with relative calm.

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for US consumers", Apple said earlier in a letter commenting on the proposal.

Related News:

  • Serena Williams praises Duchess Meghan's charity cookbook project

    Serena Williams praises Duchess Meghan's charity cookbook project

    The former Meghan Markle has written a foreword to a volume of recipes from the Hubb Community Kitchen . Meghan will be releasing a cookbook to raise funds for the families affected by the Grenfell fire .
    Born Afghan, Bangladeshi refugees to get citizenship: PM Imran Khan

    Born Afghan, Bangladeshi refugees to get citizenship: PM Imran Khan

    "A dialogue will happen provided the environment is made conducive for it", he said. If a person is propped up by army, the army still rules.
    Cristiano Ronaldo admits to feeling 'tense' about Juventus start

    Cristiano Ronaldo admits to feeling 'tense' about Juventus start

    Babacar was allowed a free header to pull one back in stoppage time, but it was Costa's behaviour and subsequent dismissal that really took the shine off Juve's celebrations.
  • Florence floodwaters close Fayetteville Little River bridge

    Florence floodwaters close Fayetteville Little River bridge

    North Carolina's Emergency Management department has opened four mass feeding kitchens and has plans to open four more shortly. Forecasters said states in the Northeast are in for as much as 10 centimetres of rain before the system moves offshore again.
    King’s Plaza Mall in Brooklyn Catches on Fire

    King’s Plaza Mall in Brooklyn Catches on Fire

    Fire officials said that the dealership's auto were among the ones that burned but they couldn't give an exact number. Members have various levels of smoke inhalation and heat exhaustion, working under these conditions.

    Trump to Lay Out Line on China Trade

    The Journal report quoted one senior Chinese advisory official saying China would not negotiate "with a gun pointed to its head". Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China.
  • China Trade War: Five Experts On Trump's Tariffs

    China Trade War: Five Experts On Trump's Tariffs

    USA business groups reacted angrily to the announcement, saying the tariffs would raise consumer prices and threaten jobs. But many everyday items such as suitcases, handbags, toilet paper and wool are included in this latest round of tariffs.
    China says to 'take countermeasures' after new U.S.  tariffs

    China says to 'take countermeasures' after new U.S. tariffs

    That could soften the blow to USA consumers and manufacturers among others ahead of key U.S. congressional elections in November. That would raise the total affected by USA penalties to $517 billion - covering almost everything China sells the United States.
    Hurricane Florence kills 5 in US

    Hurricane Florence kills 5 in US

    Boat teams rescued residents Sadie Marie Holt, 67, who first tried to row out of her neighborhood during Florence's assault. Peggy Perry, who was rescued by another group in New Bern, said rising water forced her into the upper level of her home.
  • Seahawks DE has harsh words for Trubisky

    Seahawks DE has harsh words for Trubisky

    Trubisky started the Bears' second possession by overthrowing a wide-open Taylor Gabriel on a deep pass into Seattle territory. Jordan Howard had 35 yards rushing and 33 receiving yards, while Allen Robinson led the receivers for Chicago with 83 yards.
    Met Office issues weather warning for wind

    Met Office issues weather warning for wind

    Helene is due to hit the United Kingdom between Monday night and Tuesday morning, but is likely to be short-lived. A weather warning has been put in place for Peterborough as the remnants of Storm Helene rush through the city.
    Tom Arnold Claims

    Tom Arnold Claims "Apesh*t" Mark Burnett Attacked Him Over Trump Tapes

    Burnett has access to racist outtakes from NBC's " The Apprentice " but refuses to make them public. But Arnold describes it much more violently in a tweet sent out just before 9:30.

Most liked

Emotional Farewell: Julie Chen Exits ‘The Talk’
According to an SEC filing , Moonves will advise CBS for one year "in order to provide for a smooth transition of his duties". Actress Illeana Douglas accused him of forcibly pinning her down on a couch as he "violently" kissed and thrust against her.

Trump Slaps New Tariffs on Chinese Products
The trade war between America and China has escalated, fuelling fears that the global economy could be dragged down. The President's decision threatens to upend the possibility of a diplomatic breakthrough with Chinese negotiators.

Lionel Messi equals Raul Champions League record with brilliant free-kick against PSV
Barca's captain curled home a stunning free-kick to open the scoring before Luis Suarez's clever 20-yard lob hit the crossbar. He has six goals in seven games already, including two in a 7-0 away win at ADO Den Haag at the weekend.

Musk names Japan billionaire for around-the-moon space trip
Looping a human around the moon is just the first stage of a plan that is targeted on the moon, Mars , Jupiter and beyond. Maezawa made his fortune by founding the wildly popular shopping site Zozotown . "I don't know", Musk said.

Steelers to address Brown's social media use
While there's no direct indication why Brown failed to report on Monday, it could be due to a general feeling of disrespect from Pittsburgh.

Roseanne Reveals Connor Character Cause Of Death + On Stage In LA Tonight
On her character dying via opioid overdose: "I'm not 100% sure, but my spies there, they said that". Roseanne was on Brandon Straka's " Walk Away " on Monday when she revealed this big spoiler.

FEMA postpones nationwide test of wireless 'Presidential Alert' system
FEMA officials told CNN on Saturday morning that they are still planning to conduct the test this week. The Federal Emergency Management Agency (FEMA) is testing a new warning system.

West Ham's Lucas Perez says he never refuses to warm up
The former Arsenal forward has released a statement in response to his perceived refusal to come on against Everton . West Ham , who lost each of their opening four top-flight games, host London rivals Chelsea next Sunday.

London mayor Sadiq Khan calls for second referendum on Brexit
Over the weekend London's Labour mayor, Sadiq Khan , threw his weight behind a so-called People's Vote on the final deal. May also insisted no other plan on the table would ensure "frictionless" trade on the island of Ireland .

Barack Obama Says Not Voting in the 2018 Midterm Elections Is 'Dangerous'
President Trump's son, Donald Jr., will also be in the state on Thursday, campaigning for Brown's GOP opponent Rep. Without mentioning Republican President Donald Trump by name, Obama said, "This is not normal what we're seeing".

Fortnite's Port-a-Fortress offers bigger, better protection
Luckily, items like the Port-a-Fort can be used to fill the gaps while the rest of us work to refine our building ability.

Coca-Cola In 'Serious Talks' About Infusing Marijuana Into Beverages
Coca-Cola shares were marginally higher in a US market struggling against expectations of another round of Chinese trade tariffs. Those who like to relax and unwind with an ice cold Coca-Cola may have an entirely new way to do so in the near future.

Fortnite for the Nintendo Switch Won't Require Nintendo Online
Tomorrow, that changes: on September 18th, Nintendo is launching its own paid online service called Nintendo Switch Online. The Nintendo Switch Online Service is launching in the United Kingdom on Wednesday September 19.

Meet Bigg Boss 12 contestant Romil Chaudhary
Anup Jalota is one of the most renowned singers of this country and has been known for his devotional songs. She says she does not see any effort on their part to participate in household chores and otherwise.

Apple's delayed AirPower charging mat may have just been killed off
The year is nearly coming to an end, with Apple's iPhone event for this year also done and dusted with. The report comes from renowned Apple leaker Sonny Dickson , who cites "multiple internal sources".