Amid growing tension, Trump confident China will yield
Amid growing tension, Trump confident China will yield
US-China trade war fears escalate as threats ramp up
10 April, 2018, 20:32
Treasury Secretary Steven Mnuchin acknowledged there was a risk of a trade war, but said the intention is to defend U.S. interests and the administration remains willing to negotiate.
Trump insists "China will take down its Trade Barriers because it is the right thing to do".
The comments appear to have been an effort to reassure his supporters-and investors-that there was no need to be alarmed about the rapidly rising tensions with China, which escalated further on Thursday when the president ordered the USA trade authorities to identify up to $100 billion worth of Chinese goods that could be subject to additional tariffs.
Asian markets rose on Monday after Trump tweeted that he saw an end to the escalating dispute before the higher tariffs threatened on hundreds of billions of goods would come into effect.
U.S. Trade Representative Robert Lighthizer called China's move "unjustified" and said Trump's proposal was an "appropriate response to China's recent threat of new tariffs".
But Trump did not explain why, amid a week of economic saber-rattling between the two countries that shook global markets, he felt confident a deal could be made. The US sold about $130 billion in goods to China in 2017 and faces a potentially devastating hit to its market there if China responds in kind. He argued that the situation could be a "win-win" for China and the United States if Beijing opens up its economy.
The Trump administration also is pushing for a crackdown on what it says is China's theft of US intellectual property.
In a tweet on Monday morning Trump says that when a Chinese-made vehicle is sent to the US, the tariff is only 2.5 percent, while American cars exported to China are slapped with a 25 percent tariff.
Trump increased levies on Chinese imports last week over allegations China has been ripping off USA technology for its own gains.
Fire breaks out at Trump Tower
Trump's business is based at Trump Tower and his residence is there, but he has spent little time in NY since taking office. In a tweet, President Donald Trump thanked the fire department and claimed that the fire had already been put out.
"This is a problem caused by China, not a problem caused by President Trump", Kudlow said on "Fox News Sunday".
But Trump trade adviser Peter Navarro sent a tougher message later Sunday, claiming the West Wing is "proceeding in a measured way" as negotiations with China continue.
Trump told advisers last week that he was unhappy with China's decision to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move to impose tariffs on $50 billion in Chinese goods.
Another adviser, Peter Navarro, told NBC's "Meet the Press" that while "there are discussions" with the Chinese, the USA is moving forward on tariffs and investment restrictions against Beijing.
The new ports, plans for which were proposed by Xi in October, would enjoy much greater freedom in terms of policymaking than existing free-trade zones and be more open in terms of market access, according to a person with knowledge of the matter.
"We want fair and reciprocal trade".
Further escalation could be in the offing.
Yet Xi must also overcome a credibility gap after years of Chinese promises to free up the economy were followed by more centralised control and state support for local companies. The US Treasury Department is working on plans to restrict Chinese technology investments in the US And there is talk that the US could also put limits on visas for Chinese who want to visit or study in this country.
During her 20-minute interview with officers, Nasim Aghdam said she was having family problems and had left her home, police said. California law limits gun magazines to 10 rounds each, but Caldwell said he did not know if Aghdam's were legal.
It was a sad end to the competition for her and a convenient one for all those people who have been watching with incredulity. Hubbard had been "really buoyed" by the crowd's reaction to her first lift, he said.
At 2-2, he missed an open goal but he didn't let that knock his confidence as he scored the victor soon afterwards. Yet the opening goal only served to kick-start Wenger's side out of their slumbering state.
They would need to win their remaining five games while the Milwaukee Bucks lose their last four games to reach the postseason. Philadelphia was up 65-49 at halftime, and the margin didn't reach single digits again until the waning moments of the fourth.
And a prominent Republican senator warned Trump that a failure to act now could leave him in a weakened posture internationally. The AP and other global news organizations reported SANA said the country's air defenses had shot down eight missiles.
It was another blow for Verstappen, who spun his auto early into the season-opening Australian GP two weeks ago. Hamilton was over a second off Ricciardo's lap and eight-tenths off the time set by Vettel in fourth.
A strong showing for Orban will be welcomed by admirers on the far-right in Europe, such as France's Marine Le Pen, and beyond. Mr Orban , Hungary's longest-serving post-communist prime minister, strongly opposes deeper integration of the bloc.
Cosby's retrial likely no repeat
Judge Steven O'Neill announced that he would interview the juror who claims to have overheard the remark, behind closed doors. She was tackled to the ground and charged with disorderly conduct, if convicted she'll be fined and will pay court fees.
Duchess To Give Birth At St Mary's Hospital
While Kensington Palace reps have yet to confirm Prince William's wife's due date, they have shared that she's due this month. The exclusive Lindo Wing doesn't come cheap and the Duke and Duchess will fork out more than £5,000 per night for their stay.
Ohtani shines, allowing one hit in Angels' victory
After four games with the A's, Los Angeles is one of just six teams to still maintain a flawless fielding percentage. Ohtani hit his third home run of the season on Friday and now boasts a 1.310 OPS through four games as a hitter.
Vettel wins Bahrain, Raikkonen's car breaks mechanic's leg
The Briton was hampered by radio points all through the race and sounded annoyed throughout communications together with his crew. However, the signal appears to have come too soon, with one Ferrari mechanic still replacing a wheel on the vehicle .
Muenster van attack driver acted alone, police say
The attacker was found dead in the vehicle , while the motive was yet to be ascertained, the police said. Everything possible is being done to investigate the act and support the victims and their families".
Simmons triple-double in LeBron showdown
Washington's John Wall failed to capitalize on several possessions in the final minute en route to a 119-115 win for Cleveland. The Wizards increased their lead to 104-87 with 7:35 remaining in the contest after 3-pointers by Tomas Satoransky and Beal.
Tottenham suffered a lot for the three points - Pochettino
Tottenham boss Mauricio Pochettino insists it was tougher for Tottenham to win at Stoke than it was to win at Chelsea last week. Asked directly whether there is a contract problem with Alderweireld, Pochettino replied: "From what I know, no.
Ford issues recall for about 350000 truck
A Ford Motor Company ( NYSE :F) recall was issued this week over F-150 and Expeditions as they could roll when parked. Narrowing in a bit closer, the 5 month price index is 0.94323, the 3 month is 0.88441, and the 1 month is now 1.06773.
Nokia 7 Plus First Impression: Will it create an impact?
To recall, the Nokia 6 (2017 ) received an Rs. 1500 price cut over a month ago, bringing the cost of the phone down to Rs. 13,499. Nokia 8 Sirocco is powered by Octa Core Qualcomm Snapdragon 835 processor coupled with 6GB of RAM and 128GB of inbuilt memory.