Soybeans post record rally with demand gain overshadowing US-China trade war
Soybeans post record rally with demand gain overshadowing US-China trade war
German Chancellor Angela Merkel gestures next to Chinese President Xi Jinping in Berlin
09 July, 2018, 05:33
This prompted Beijing to respond in kind with levy tariffs on 545 items of USA imports, including agricultural products, vehicles and aquatic goods - also worth $34 billion, state-run newspaper The China Daily reported Friday.
Mayor Frank Klipsch of Davenport, Iowa, said he fears not only the impact on farmers but on farm equipment makers.
The fight could also affect other parts of China-US relations. "To put it simply, the U.S.is opening fire on the entire world, including itself", Gao said.
A China central bank adviser said the planned USA import tariffs on $50 billion worth of Chinese goods - $34 billion plus a planned follow-on list worth $16 billion - will cut China's economic growth by 0.2 percentage points, according to the official Xinhua news agency.
Trump has threatened to impose additional tariffs on Chinese goods if Beijing fails to accede to his demands and instead retaliates.
Twenty-five percent US tariffs took effect at midnight and affect more than 800 Chinese products - including industrial machinery, office equipment, electronics, medical devices and vehicles.
"You have another 16 [billion dollars] in two weeks, and then, as you know, we have $200bn in abeyance and then after the $200bn, we have $300bn in abeyance. OK?"
Jaime Castaneda, senior vice president of the US Dairy Export Council, said the retaliatory tariffs have been a "one-two punch" that have left the industry "reeling".
These tariffs and China's retaliation comes amid push back from other nations, including China and Mexico, in response to the Trump administration's import tariffs on steel and aluminum.
The U.S. pork industry a year ago sent $1.1 billion worth of product to China, making it the third largest export market after Japan and Mexico.
CANADA: Heat wave claim 54 lives
Environment Canada issued a smog warning as "high concentrations of pollutants are expected to persist through the night". Regional public health director Mylene Drouin said that the majority of the victims were men aged between 53 and 85.
Jorg Wuttke, former president the European Union Chamber of Commerce in China, predicted: "It's a dark day tomorrow for global trade". China, not surprisingly, has responded by targeting American exports like soybean and automobiles, a move that could cause job losses in American states that accommodate Mr. Trump's voter base.
On the other hand, Bangladesh market may also be flooded with cheap Chinese products affecting local industry as China will try to retain its market elsewhere.
And despite dire warnings about the impact on the US, Trump believes the robust American economy can outlast its rivals in the current battle.
The new levies took effect at midnight Eastern Time in the United States, a Wall Street Journal report said today. Trump has added to the tension by threatening new tariffs on cars.
'There should be no doubting Beijing's resolve, ' the newspaper said.
"With tariffs against China taking effect, American consumers are one step closer to feeling the full effects of a trade war", Matthew Shay, president and CEO of the National Retail Federation, said Thursday in a statement carried by the association, the world's largest in retail trade. Clearly damaging for the world economy.
"If we lose that, my son will spend the rest of his lifetime trying to get that back", he said. But both sides have dug in, and it is unclear what the offramp is for leaders in either country.
Chinese goods being hit by USA levies include cars, computer disk drives, pump and valve parts and LEDs.
Analysts say China is unlikely to budge on those plans, which it sees as crucial for developing its huge economy.
Croatia scraped through against Denmark on penalties and will need to refill on confidence before taking on the home nation. We have seen Croatia throw in performances like that one before in the latter stages of tournaments.
The video was produced in June by former OSU wrester Mike DiSabato's company Combat Athlete Coalition, he told CNN . Jordan, as well as other individuals with potential knowledge relating to the allegations", Trafford said.
In the meantime, Beijing has stopped referring to " Made in China 2025 " publicly and told media outlets to do the same. Markets in Asia showed remarkable restraint after falling in early trading. "This is not economic Armageddon".
But the threat of a deluge raised the possibility of flooding at a stubborn blaze in the southwestern corner of the state. San Diego Gas and Electric says almost 1,700 customers are without power after the fire damaged the electric system.
It was the second time he had escaped from a French prison - the last time he blasted his way out with hidden explosives. In the 1990s, Faid led a criminal gang involved in the armed robbery of banks and armoured vans transporting cash.
The whole list is extraordinary", he said. "So I think it's a bit of a scare tactic and rank speculation more than anything else". The son of Indian-American immigrants, Thapar is the Nation's first Article III judge of South Asian descent.
A wildfire near Warm Springs has burned about 800 acres and is estimated to be about 50 percent contained Monday evening. The fourth spot is held by the Missionary Ridge Fire , which ripped through 71,739 acres, also north of Durango.
First two of Thai soccer team rescued from cave
Divers have brought the boys "food, electrolyte drinks, drinking water, medicine and oxygen canisters", the AP reports. In addition to treatment areas, the hospital will also provide reunion rooms for the young boys and their families.
Chestnut downs a record 74 franks for 11th title
Fans, Americans, and hot dog-lovers alike celebrated Chestnut's win and new world record. "I just kept going", he said . The victory handed him the coveted Mustard Belt for the eleventh time in his "hot dog-eating" career.
Ant-Man and the Wasp Is Certified Fresh
This movie does have some hints that provide links to Avengers 4 , with one of the fan theories being not so subtly confirmed. But in a case of unfortunate timing, while Scott is in the quantum realm, Hank, Hope and Janet all disintegrate into dust.
Serena’s chances boosted as Wimbledon seeds keep falling
French Open semi-finalist Keys struggled for most of the match as she committed 48 unforced errors in a disappointing display. The 36-year-old American now can not meet a top 32 player until the semi-finals after the scattering of the seeds this week.
Three suspects charged with kidnapping Halloween actor
They are due in court for a pretrial hearing on July 23 at the Foltz Criminal Justice Center county courthouse. McCrackin is a TV and film actress perhaps best known for her role in the horror film Halloween: Resurrection .
David Foster, Katharine McPhee are engaged
Cook from 1972 to 1981, Rebecca Dyer from 1982 to 1986, Linda Thompson from 1991 to 2005, and Yolanda Hadid from 2011 to 2017. When ET caught up with Foster at his home in March, he explained what it's like to date someone who approves of his kids.
Sen. Cantwell weighs in on SCOTUS pick
Trump is expected to announce his pick from the list, which now comprises over 25 judges from across the country, on July 9. On Monday, Trump interviewed federal appeals judges Raymond Kethledge, Amul Thapar, Brett Kavanaugh and Amy Coney Barrett.
At least 17 deaths in Quebec attributed to heat
The heat is going to continue until Thursday, with some relief on Friday when temperatures finally start dipping under 30 C. Environment Canada has updated its heat advisory for southern Ontario, warning about high humidex values.
Pensions and Pemex to figure in Lopez Obrador's Mexico plans
It is hard to see AMLO continuing his predecessors' security policies and anti-immigration efforts on Mexico's southern border. The effort, she said, would help reintegrate into society some of the estimated 600,000 Mexicans employed by drug cartels.