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  • Current Event
    7 days ago
    by ubthejudge
    +12 +1

    US imposes new $200bn tariffs on China

    The US is imposing new tariffs on $200bn (£150bn) worth of Chinese goods as it escalates its trade war with Beijing. The higher import taxes 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.

  • Current Event
    6 days ago
    by ckshenn
    +19 +1

    Trump accuses China of using trade to target election, threatens...

    President Donald Trump on Tuesday threatened further retaliation against China if Beijing targets U.S. agricultural or industrial workers amid a trade dispute, and accused China of trying to sway the U.S. election by targeting farmers. Trump made the accusations in a pair of Twitter posts as the two sides launched new trade tariffs in an escalating trade dispute. Beijing said it would retaliate with tariffs against $60 billion worth of American products after Trump on Monday imposed 10 percent tariffs on about $200 billion worth of imports from China.

  • Current Event
    6 days ago
    by grandtheftsoul
    +12 +1

    China hits back: It will implement $60 billion in tariffs on the US effective Sept. 24

    China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report. The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent. On Monday, President Donald Trump's administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24. Trump, in a statement, said that the tariffs would rise to 25 percent on Jan. 1, 2019.

  • Current Event
    2 weeks ago
    by ubthejudge
    +2 +1

    US and China could soon prompt a 'big slowdown' in global growth, former bank regulator warns

    The economic policies being pursued by the U.S. and China could bring about a massive slowdown in global growth, according to Britain's top former bank regulator. Economic growth in the U.S. remains robust in 2018, yet in much of the rest of the world signs of deteriorating momentum have emerged since the start of the year.

  • Current Event
    2 weeks ago
    by ppp
    +3 +1

    Ford Hits Back At Trump, Says It Won't Build New Focus Cars In U.S.

    'It would not be profitable to build the Focus Active in the U.S. given an expected annual sales volume of fewer than 50,000 units and its competitive segment,' Ford said. President Donald Trump on Sunday suggested via Twitter that American automaker Ford could begin making its Focus model in the U.S., and therefore circumvent his tariffs.

  • Current Event
    3 weeks ago
    by kong88
    +3 +1

    WTO Head Warns Trump: U.S. Exit Would Cause World Economy To Descend Into Chaos

    In an Oval Office interview this week, as the Guardian reported, President Trump vowed to withdraw from the World Trade Organization (WTO) if it doesn’t “shape up,” calling the agreement establishing the body “the single worst trade deal ever made.” While the POTUS does not shy away from hyperbole, especially in his protectionist trade rhetoric, his threats were taken seriously by Roberto Azevedo, the WTO’s director general, who suggested in an interview with Bloomberg that the economy would descend into chaos, if the U.S. was to withdraw from the organization.

  • Current Event
    3 weeks ago
    by rexall
    +8 +1

    US trade war and Japan push raise prospects for Asia free-trade deal

    The US trade war and a thaw in ties between China and Japan are raising prospects for the world’s biggest regional free-trade deal, analysts said on Sunday after trade negotiators voiced high hopes of reaching a broad agreement in November.

  • Current Event
    2 weeks ago
    by grandsalami
    +18 +1

    Trump says good relations with Japan 'will end when I tell them how much they have to pay:' WSJ

    U.S. President Donald Trump has suggested to The Wall Street Journal that he will take on Japan next in his fight to cut trade deficits with U.S. trading partners, according to a column carried on the paper's online edition Thursday. Citing a phone call he received from Trump, James Freeman, a columnist for the paper, wrote that the president "described his good relations with the Japanese leadership, but then added: 'Of course that will end as soon as I tell them how much they have to pay.'

  • Current Event
    2 months ago
    by larylin
    +6 +1

    China denies it will be first to impose tariffs on $34bn of US goods

    China has denied it will fire the opening salvo in an escalating trade dispute with the US, insisting that it would not bring in 25% tariffs on $34bn (£26bn) of American goods before a move from Washington. Both sides have threatened to impose similarly sized tariffs on 6 July, but because of the 12-hour time difference, it was thought the Chinese tariffs on US imports ranging from soybean to stainless steel pipes could take effect earlier. However, China’s finance ministry issued a statement on Wednesday saying that it would not be the first to levy tariffs.

  • Current Event
    2 months ago
    by baron778
    +20 +1

    Angela Merkel: US auto tariffs could start trade war

    German Chancellor Angela Merkel has warned the Trump administration that hitting auto imports with new tariffs would have dire consequences. ''We now have tariffs on aluminum and steel and we have a discussion that is far more serious," Merkel told German lawmakers on Wednesday. "This is taking on the contours of a trade conflict — I don't want to use words that go any further. It's worth every effort to try and defuse this so that this conflict does not become a war.''

  • Current Event
    2 months ago
    by grandtheftsoul
    +26 +1

    The US-China trade war is about to get real

    After months of threats and skirmishes, the trade war between the United States and China is about to get serious. On Friday, the world's top two economies are due to exchange fire by hitting $34 billion of each other's exports with steep new tariffs, the first moves in what may become a devastating cycle of retaliation. The planned measures have already unsettled markets and provoked warnings from companies of damage to their bottom lines and higher prices for consumers.

  • Current Event
    2 months ago
    by Vandertoolen
    +11 +1

    China says the US has started 'the biggest trade war' in history

    China on Friday accused the United States of starting "the biggest trade war in economic history" as the two sides imposed steep new tariffs on tens of billions of dollars of each other's exports. The Trump administration's 25% tariffs affect more than 800 Chinese products worth $34 billion such as industrial machinery, medical devices and auto parts. They kicked in just after midnight ET, which is noon in Beijing.

  • Current Event
    2 months ago
    by TNY
    +8 +1

    Donald Trump’s new tariffs are disastrous for synthesizer manufacturers

    It’s easy to overlook Donald Trump’s new tariffs amidst the caterwauling din that is our 24-hour news cycle, but Harley Davidson isn’t the only business to be impacted by the president’s tax battles. Moog Music, the company behind the iconic Moog synthesizer, may also have to take its business overseas, resulting in massive layoffs. Moog sent out an e-mail to customers this warning customers that an impending 25% import tax on Chinese circuit boards and associated components will “immediately and drastically increase the cost of building our instruments...

  • Current Event
    2 months ago
    by hedman
    +7 +1

    As trade war rages, the shoe biz goes on for Ivanka Trump and her Chinese suppliers

    President Donald Trump’s daughter has long had her apparel and shoes made in China and thanks to a major exemption for Chinese garment and footwear in the tariffs dispute, the clothing industry looks likely to be left unscathed. The U.S. imposed an additional 25 percent tariff on $34 billion worth of Chinese goods on Friday. Among the sectors affected were nuclear reactors, boats and aircraft, but clothing was exempted.

  • Current Event
    2 months ago
    by TNY
    +17 +1

    France says "war has already started" between U.S. and Europe over trade

    Europe will stand “united” against President Donald Trump’s trade policies, the French government said on Sunday, adding that the “the [trade] war has already started.” French Finance Minister Bruno Le Maire said European governments will retaliate against any additional tariffs from Washington in a unified front, as Trump visits the continent to negotiate with leaders and attend a North Atlantic Treaty Organization (NATO) summit in Brussels.

  • Current Event
    2 months ago
    by rexall
    +9 +1

    Donald Trump's China Tariffs Don't Apply to Ivanka

    Despite her father’s rallying cry to “buy American and hire American,” 100% of Ivanka Trump’s fashion products were made overseas—at least until early 2017. And now her goods are avoiding the sweeping tariffs enacted by President Trump in his trade war with China. On Friday morning, Trump implemented $34 billion in tariffs on Chinese goods ranging from auto parts to medical devices, according to the Huffington Post.

  • Current Event
    2 months ago
    by zritic
    +9 +1

    BMW moving some production to China, raising prices on SC-made SUVs in response to tariffs

    Automaker BMW says it will build more of its popular SUVs overseas to offset the higher cost of sending cars to China due to recently enacted tariffs. BMW also said it will raise the price of South Carolina-built vehicles sold in China to help offset that country's new 40 percent import tax on cars from the U.S., retaliation for higher tariffs on Chinese goods imposed by President Donald Trump. The dpa news agency reported that Munich-based BMW said Monday it is "not in a position to completely absorb the tariff increases."

  • Current Event
    2 months ago
    by wildcard
    +7 +1

    Trump preparing tariffs on additional $200B in Chinese goods: report

    President Trump this week will likely release a list of Chinese goods to hit with $200 billion in tariffs, according to a Bloomberg report on Tuesday. The new list will come days after the U.S. levied duties on $34 billion in Chinese imports, which resulted in retaliatory tariffs from China of the same amount against U.S. goods.

  • Current Event
    2 months ago
    by zyery
    +9 +1

    EU presses China to open up economy, avoid trade war

    The head of the European Commission on Monday urged China to open up its economy to avoid escalating existing trade disputes. Reuters reported that European Commission President Jean-Claude Juncker met with Chinese Premier Li Keqiang, where the two discussed the importance of free trade. China has drawn scrutiny from President Trump and other world leaders for its protectionist policies, prompting the Trump administration to implement steep tariffs and set off concerns of a global trade war.

  • Current Event
    2 months ago
    by grandtheftsoul
    +17 +1

    Japan, EU sign trade deal to eliminate nearly all tariffs

    The European Union and Japan signed a landmark deal on Tuesday that will eliminate nearly all tariffs on products they trade. The ambitious pact signed in Tokyo runs counter to President Donald Trump’s moves to hike tariffs on imports from many U.S. trading partners. It covers a third of the global economy and markets of more than 600 million people.

  • Current Event
    2 months ago
    by robmonk
    +12 +1

    In Face Of Protectionism, EU And Japan Sign Huge Open-Trade Deal

    Japan and the European Union have signed a massive trade deal that creates an open-trade zone for more than 600 million people. The EU and Japan account for about one-third of GDP worldwide. The deal has been in the works for years, but the parties reached an agreement in principle a year ago, several months after President Trump pulled the United States out of the Trans-Pacific Partnership, a major trade deal with Japan and 10 other nations.

  • Current Event
    2 months ago
    by zyery
    +11 +1

    Trump threatens tariffs on all $505 billion of Chinese goods coming to America

    President Donald Trump on Friday threatened to place tariffs on all goods imported by the US from China in a major escalation of the burgeoning trade war between the two nations. “I’m ready to go to 500,” Trump said in an interview with CNBC’s Joe Kernen that aired Friday morning. The US imported $US505 billion worth of goods from China in 2017, according to Census Bureau data.

  • Current Event
    2 months ago
    by jedlicka
    +3 +1

    The EU is already preparing for trade talks with Trump to fail — and is readying a major retaliation

    European Union officials are preparing for the worst ahead of talks with the US about the future of trade. President Donald Trump and his administration are considering tariffs of as much as 20% on US automobile imports from Europe. EU officials are readying a list of retaliatory tariffs to be applied should the two sides fail to reach an agreement.

  • Current Event
    2 months ago
    by 8mm
    +7 +1

    Trump Just Called Off His Trade War With Europe. Score One for the Globalists.

    Well, that de-escalated quickly. After chatting for less than two hours, U.S. President Donald Trump and European Commission President Jean-Claude Juncker walked into the White House Rose Garden Wednesday afternoon and announced that they had struck a deal to stop the cycle of tit-for-tat tariffs that has been threatening to blow up into an all out trade war between some of the world’s most important economies.

  • Current Event
    2 months ago
    by aj0690
    +20 +1

    Mexico turns to Russia for cheaper wheat amid trade tensions with US

    Mexico's grain millers are reportedly shifting their trade priorities to be less dependent on U.S. exports ahead of possible retaliatory tariffs by the Mexican government in response to the Trump administration's trade moves, a decision that could have major effects on the domestic grain market. Reuters reports that three major grain milling companies in Mexico that have purchased the vast majority of their wheat and other grains from the U.S. are looking at Russian suppliers and other options in Latin America.

  • Expression
    1 month ago
    by Alchemist
    Expression
    +15 +1

    Can Trump Win a Trade War with China? - Silver Monthly

    According to President Trump, “trade wars are good, and easy to win.” This controversial hypothesis is currently being put to the test, as the U.S. has become engaged in its biggest trade dispute since the Great Depression. Trade War 2018… So Far In the first six months of 2018, the United States and its trading …

  • Current Event
    1 month ago
    by bkool
    +3 +1

    Tariffs will cost Caterpillar $200 million, so it's going to raise its prices

    Big exporter Caterpillar gave a figure on how much tariffs will affect its bottom line. In its second-quarter earnings statement, the Dow Jones Industrial Average member said Monday it expects recently imposed tariffs to shave off $100 million to $200 million from its bottom line in the second half of the year. The company also raised its full-year earnings forecast despite the increased costs.

  • Current Event
    1 month ago
    by Pfennig88
    +10 +1

    U.S. Considers Higher Tariffs on $200 Billion in Chinese Imports

    The Trump administration will propose raising to 25 percent its planned tariffs on $200 billion in Chinese imports, ratcheting up pressure on Beijing to return to the negotiating table, three people familiar with the internal deliberations said. The U.S. imposed 25 percent tariffs on $34 billion of Chinese products in early July, and the review period on another $16 billion of imports ends Wednesday. President Donald Trump has threatened an additional $200 billion with levies of 10 percent, a level the administration may raise to 25 percent in a Federal Register notice in coming days, one of the people said.

  • Current Event
    1 month ago
    by geoleo
    +3 +1

    China Announces Retaliatory Tariffs On $60 Billion In U.S. Goods

    China has announced a plan to impose new tariffs on $60 billion of American goods, in retaliation for the latest tariff threats from the Trump administration. Earlier this week, the White House said it was considering boosting tariffs on $200 billion worth of Chinese goods, raising those tariffs to 25 percent from 10 percent. That particular set of tariffs has not yet taken effect.

  • Current Event
    1 month ago
    by doodlegirl
    +22 +1

    Trump threatens auto tariffs against Canada if trade talks fail

    Donald Trump launched a fresh auto tariff threat against Canada late Friday at a time when Ottawa finds itself in a holding pattern on NAFTA negotiations as it awaits the completion of one-on-one talks between the United States and Mexico. In a tweet that appeared to reference NAFTA's renegotiation, the U.S. president said the "deal with Mexico is coming along nicely" and that "Canada must wait."

  • Current Event
    1 month ago
    by TNY
    +21 +1

    Germany: Trump is 'destroying economic growth' with trade war

    Germany’s top economic official is criticizing President Trump over U.S. trade policies, saying that the escalating tariff dispute is “destroying” economic progress in his country. “This trade war is slowing down and destroying economic growth - and it creates new uncertainties,” Economy Minister Peter Altmaier told Germany’s Bild am Sonntag newspaper, according to Reuters.

  • Current Event
    1 month ago
    by hiihii
    +13 +1

    US reaps more than $1.4 billion from steel and aluminum tariffs

    Trump has suggested revenue from tariffs could be used to reduce the federal deficit, which rose to $77 billion in July. In less than five months, the Trump administration has collected more than $1.4 billion in new revenue from steel and aluminum tariffs, according to a recent report prepared for members of Congress. The Congressional Research Service estimated that, between March 23 and July 16, the U.S. reaped $1.1 billion...

  • Current Event
    1 month ago
    by hxxp
    +19 +1

    CIA official: China wants to replace US as world superpower

    The goal of China's influence operations around the world is to replace the United States as the world's leading superpower, the CIA's Michael Collins said Friday. Speaking at the Aspen Security Forum during a session on the rise of China, Collins, the deputy assistant director of the CIA's East Asia Mission Center, said Chinese President Xi Jinping and his regime are waging a "cold war" against the US.

  • Current Event
    1 month ago
    by lostwonder
    +4 +1

    Empty hotels, idle boats: What happens when a Pacific island upsets...

    Empty hotel rooms, idle tour boats and shuttered travel agencies reveal widening fissures in the tiny Pacific nation of Palau, which is caught in an escalating diplomatic tug-of-war between China and Taiwan.

  • Current Event
    1 month ago
    by grandtheftsoul
    +3 +1

    AP Interview: Japan official says Trump misunderstands trade

    President Donald Trump’s tariff policies reflect a serious misunderstanding of the importance of free trade and Japanese companies’ contributions to the U.S. economy, Japan’s trade minister said Thursday. Hiroshige Seko, the minister of economy, trade and industry, warned in an exclusive interview with The Associated Press that Tokyo might take action if the U.S. fulfills threats to levy a 25 percent tariff on Japanese auto imports. He gave no details but didn’t rule out retaliatory tariffs.