Escalating trade war with China could affect Minnesotans

The news came as Interbike's indoor expo prepared to open

Last year, China imported just $130 billion of goods from the U.S., leaving Beijing with now only around $80 billion of imports to work with, but Trump's latest move will see 10 percent tariffs slapped on $200 billion of Chinese imports.

The Chinese government has yet to issue official comment on the move, but is expected to extend its own tariff programme against U.S. imports - an extension which puts it at a disadvantage, being responsible for exporting far more to the United States than it imports. From January 1, 2019, the tariffs will be reportedly raised to 25 percent.

Mr Trump warned on Monday that if China takes retaliatory action against U.S. farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately US$267 billion of additional imports".

"Anyone who has some knowledge of China's diplomacy will know that we will not interfere in other countries' domestic affairs", foreign ministry spokesman Geng Shuang said at a regular press briefing.

Trump threatened Monday to add a further $267 billion in Chinese imports to the target list if China retaliates for the latest USA duties.

Trump warned on Monday that if China takes retaliatory action against USA farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports". That would raise the total affected by USA penalties to US$517b, covering almost everything China sells to the United States.

Beijing responded Tuesday by announcing new tariffs on $60 billion of United States imports.

"We feel deeply regretful over the decision", a ministry representative said Tuesday. "There are smart ways to deal with China's cheating on trade, but stepping on our farmers is not one of them".

Reducing taxes and fees will be the focus of China's more pro-active fiscal policy and easing funding difficulties for firms will also be key while keeping monetary policy prudent and liquidity reasonably ample, he said.

The American Chamber of Commerce in China warned Washington is underestimating Beijing's determination to fight back.

"We have not yet seen any significant shift in the customer supply chains".

Li, the Chinese premier, indirectly acknowledged complaints about global trade regulation and affirmed Chinese support for reforms.

Jamie Carragher names the "best player in the Premier League"
He captained his country to a third-place finish in Russian Federation , scoring three goals along the way. Chelsea's Eden Hazard is top of the Power Rankings for the first time this season.

Where does Ramos' pot-shot at Griezmann come from?
He leaves a big gap behind but that's been covered by players with a huge appetite to compete. I want to be the most complete I can be.

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.

Trump has strained relations with potential allies including the European Union, Canada and Mexico by raising tariffs on imported steel and aluminum.

"Over the last number of years, China has taken out of this country Dollars 500 billion and more a year".

Trump doubled down on that threat Tuesday, vowing punitive measures against China if it targets politically potent USA agricultural products for retaliation.

"We're doing a very good job with China", Trump said in the Oval Office. "I urge China's leaders to take swift action to end their country's unfair trade practices".

The trade gap means China will run out of United States imports to tax while the U.S. still has plenty of Chinese imports to target. China has also pledged to buy soybeans from other countries, but replacing voluminous American supplies will be hard. American companies say regulators are already starting to disrupt their operations.

There's some anecdotal evidence of Chinese regulators making life more hard for American companies looking to do business over there: In a recent Chamber of Commerce report, half of 430 companies surveyed described "slower customs clearance and increased inspections and bureaucratic procedures".

"We are disappointed that the administration seems to continue to misunderstand the complexities and reality of global trade", said Ed Black, president of the Computer & Communications Industry Association. "No one will emerge victorious from this counter-productive cycle".

Tariffs are ultimately a tax on businesses and consumers, and with each new round, the administration is bringing them closer to home for the typical American.

United States officials told reporters the lower initial tariff rate would give businesses time to find new suppliers.

The products spared included consumer electronics like smartwatches and Bluetooth devices, child safety products such as high chairs, auto seats and playpens, and certain health-and-safety products such as bicycle helmets.

Smart watches and Bluetooth devices were removed from the tariff list, along with bicycle helmets, high chairs, children's auto seats, playpens and certain industrial chemicals.

Related News:

  • Barcelona vs. PSV Eindhoven - Football Match Report

    Barcelona vs. PSV Eindhoven - Football Match Report

    A slip from Mbappe, however, gave the ball to the Reds in a promising position. "It was a magisterial free kick", Valverde added. The 21-year-old's driving run earned Messi his free-kick while a sizzling shot brought the goal his bustling display deserved.
    Death toll rises to 31 as Hurricane Florence continues to RAVAGE US

    Death toll rises to 31 as Hurricane Florence continues to RAVAGE US

    The number of customers without power across North Carolina fell to just under 500,000, with about 20,000 in SC . Areas from Florence to Chesterfield, Conway and Dillon were dotted with expanses of water Monday.
    Musk names Japan billionaire for around-the-moon space trip

    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.
  • Accuser of Trump's Supreme Court pick seeks Federal Bureau of Investigation  probe

    Accuser of Trump's Supreme Court pick seeks Federal Bureau of Investigation probe

    In a letter penned by his attorney, Eric Bruce, and sent to Senate Judiciary Chairman Chuck Grassley, R-Iowa, and Sen. But Trump already has rejected that idea, saying the Federal Bureau of Investigation has already done its work.
    South Korea president leaves for North Korea

    South Korea president leaves for North Korea

    Moon and Kim were also expected to hold a joint news conference on Wednesday if their two sets of summit meetings go smoothly. Moon says denuclearizing the Korean Peninsula can not be achieved without direct talks been Kim and U.S.
    Russian Federation  blames Israel for loss of aircraft to Syrian fire

    Russian Federation blames Israel for loss of aircraft to Syrian fire

    Putin made his remarks several hours after the Defence Ministry put the blame squarely on Israel for "provoking" the incident. When asked for comment about Monday's attack, an Israeli military spokeswoman said Israel did not comment on foreign reports.
  • Liverpool has goal disallowed after PSG keeper takes cleat to groin

    Liverpool has goal disallowed after PSG keeper takes cleat to groin

    Liverpool's Champions League win over Paris Saint-Germain proved they are on a par with Europe's best, according to Joe Gomez. Moving up the field we saw Neymar playing a more central role as a CAM, and fellow winger Di Maria, playing to the left.
    Polish president wants a 'Fort Trump' US military base

    Polish president wants a 'Fort Trump' US military base

    They respect strength, as anyone does, and we have the greatest strength in the world, especially now". Trump says they agreed to bolster defense, energy and commercial ties.

    Trump and son come to defence of Brett Kavanaugh

    Flake said Ford's allegations deserve to be heard, and said holding a hearing is the "best" and "only process we have". Committee Chairman Chuck Grassley, R-Iowa, said the hearing will "give these recent allegations a full airing".
  • Maroon 5 to play Super Bowl LIII halftime show

    Maroon 5 to play Super Bowl LIII halftime show

    Considering Atlanta's rich music history, many people were baffled by the selection of Maroon 5 . No word yet if either collaborator will be joining Levine and his bandmates at the Super Bowl .
    Amazon now 3rd-biggest digital ad seller in US

    Amazon now 3rd-biggest digital ad seller in US

    Google will take in $41 billion in digital ad revenue in the U.S.in 2018, eMarketer estimates, and Facebook $22.8 billion. The revised number reflects an accounting change by Amazon as well as increased demand, EMarketer said.
    Lionel Messi equals Raul Champions League record with brilliant free-kick against PSV

    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.


Most liked

United Kingdom police investigate possible hate crime outside Muslim centre
TWO people have been taken to hospital after a auto collided with them outside an Islamic centre in north London . No arrests have been made'. 'Enquiries into the full circumstances of the collision are ongoing.

4 injured in shooting at office building in Middleton, Wisconsin
Geib said he and his colleagues were still huddled in their cafeteria, away from windows, more than an hour after the shooting. We spoke to employees who work at a building next door who said they saw employees running from the WTS Paradigm building.

Pakistan's ex-PM Sharif freed after court suspends sentence
Nawaz's son-in-law Safdar was given 1-year imprisonment for not cooperating with the NAB, and aiding and abeting Nawaz and Maryam. Jubilant workers have been chanting slogans and showering the ex-premier's vehicle with rose petals.

Amazon is Readying the Alexa Device You Dreamed of: a Microwave
Amazon's former director of Alexa Smart Home, Charlie Kindel, meanwhile, joined smart home service provider Control 4 in August. The new devices will help realize Amazon's ambition of making Alexa ubiquitous in the customer's home and in their vehicle .

SpringHill Entertainment releases team for 'Space Jam 2'
Nance is replacing Justin Lin (Fast & Furious franchise) who was one of the directors originally attached to the project. Production on the " Space Jam " sequel is tentatively scheduled to begin in the summer of 2019.

In "Full Disclosure", Stormy Daniels Claims Trump Didn't Want to Be President
In the book, Stormy says that her exchange with Donald was the "least impressive" intercourse she has ever had. The most salacious statements in the book directly attack Trump's manhood, describing it in detail as odd.

Storm Florence: Worst still to come, authorities warn
The White House said President Donald Trump approved making federal funding available in some affected counties. In Leland, a low-lying city north of Wilmington, homes and local businesses were engulfed by water.

McDonalds Workers to Go On Nationwide Strike
Adrianna Alvarez, who has worked for McDonald's in Chicago for nine years , says the problem is "nationwide, worldwide". The teen reported it to her manager, who allegedly told her, "You will never win that battle".

Court to rule on the legality of marijuana
The court went on to say that those using and growing cannabis in the privacy of their own home should be left in peace. South Africa's government had opposed its legalisation, arguing the drug was "harmful" to people's health.

Roberto Firmino is a doubt for Liverpool's Champions League opener
It meant Spurs had only two players in the middle to deal with Roberto Firmino and Sadio Mane. Neymar is also well rested for PSG's group-stage opener in the Champions League .

Brett Kavanaugh’s Accuser Willing to Testify, Lawyer Says
Lawyer Debra Katz, who is representing Ford, said her client was willing to testify about her allegation before the Senate panel. Feinstein acknowledged her knowledge of the accusation last week but kept Ford's identity private until the Sunday Post article.

China Warns of 'Countermeasures' in Response to New US Tariffs
Trump made the accusations in a pair of Twitter posts as the two sides launched new trade tariffs in an escalating trade dispute. At the root of the trade war are USA complaints about China's plans to try to overtake United States technological supremacy.

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.

'Game of Thrones' takes top prize at surprising Emmys
Scarlett Johansson walked alongside him as they made their Emmys debut on the gold carpet for Monday's show. "Let's get it trending: #EmmysSoWhite", presenter James Corden joked at the ceremony's midway point.

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.