US has 'rebuilt' China: Donald Trump

Trump proposes new tariffs on $200B worth of Chinese goods

Trump proposes new tariffs on $200B worth of Chinese goods

China had offered to ramp up purchases of American goods by $70 billion to help cut its yawning trade surplus with the United States, whereas Trump had demanded a $200 billion deficit cut.

AMP Capital chief economist Shane Oliver said though the Australian sharemarket appeared comfortable with Mr Trump's move, there were increasing risks of a global trade war.

The deepening trade spat between the USA and China is unlikely to have a direct impact on Thai exports, insists the Commerce Ministry's trade policy and strategy office.

While addressing the National Federation of Business in Washington, Trump told the crowd that Canadians are resorting to smuggling US goods to avoid tariffs.

"This is unacceptable." Two decades ago, China's economy was largely fuelled by exports, but it has made progress in rebalancing towards domestic investment and consumption since the global financial crisis erupted last decade - limiting the damage trade tariffs could inflict on Beijing.

"If the USA loses its senses and publishes such a list, China will have to take comprehensive quantitative and qualitative measures and retaliate forcefully", it said.

"Such a practice of extreme pressure and blackmailing deviates from the consensus reached by both sides on multiple occasions", the ministry said.

The intellectual property sanctions were the latest in a spate of protectionist measures unveiled by Trump in recent months that included tariffs on steel and aluminum imports to the USA and a tough rhetoric on trade negotiations from North America to Asia. Shanghai stocks plunged to two-year lows.

On Wall Street, the Dow Jones Industrial Average closed down 1.1% on Tuesday. They included tariffs on steel and aluminum imports to the USA and a tough rhetoric on trade negotiations from North America to Asia.

Last week, Mr Trump confirmed that the U.S. would impose 25% tariffs on $50bn worth of Chinese goods. Write to us in the Comments section, and visit our Facebook page. So far this year, Canada and China comprise the largest percentages of the country's total trading volume, at 15.1% apiece.

The US president has also accused Chinese companies of stealing American technology and intellectual property. The first round of penalties announced by both nations is set to take effect on July 6.

Beijing and Washington have held three rounds of high-level talks since early May that have yet to yield a compromise. He argued the US steps will ultimately benefit the country and global trading system.

U.S. Trade Representative Robert Lighthizer speaks at the 9th China Business Conference at the U.S. Chamber of Commerce in Washington, May 1, 2018.

Stock markets have fallen around the world in the wake of President Trump's latest tariffs threat to China.

A senior Chinese diplomat on Tuesday called for joint actions against trade wars which hurt bilateral interests and go against world trade order.

He doubts the latest dispute would damage the relationship between the two countries. -China trade spat escalated and base metal prices slid.

"Everyone knows ... China is the main perpetrator", he said.

Recommended News

  • Duke alum Stephen Miller 'instrumental' in Trump's policy to separate migrant families

    Duke alum Stephen Miller 'instrumental' in Trump's policy to separate migrant families

    He labeled the bill the "Ryan amnesty" and said it also repeats the same mistakes of the failed 2013 "Gang of 8" immigration bill. The bill would grant full legal status and a path to citizenship to people who qualify for the Obama-era DACA program.

    DHS Secretary Kirstjen Nielsen Defends Separation Of Families At The Border

    The guide sheet adds, "DHS and HHS can take steps to facilitate reunification with your child (ren)". Hours after Trump's comments, the White House issued a statement saying the president had misspoken.
    Tunisia 1 England 2

    Tunisia 1 England 2

    England manager Gareth Southgate paid tribute to Kane, as he suggested his skipper confirmed his class with two valuable goals . In the final third of the first half, Tunisia started to look more solid and belief amongst the players grew.
  • The US Open Should Be a Spectacle Not a Debacle

    The US Open Should Be a Spectacle Not a Debacle

    It's their first time at the tournament. "People here have been awesome, they made my birthday special", he said. He won't get it this year, not after an 81 on Saturday that marked the highest score he has ever shot in a U.S.
    Trump campaign manager calls for Sessions to be fired

    Trump campaign manager calls for Sessions to be fired

    At a White House briefing Monday, Homeland Secretary Kirstjen Nielsen declared, "Congress alone can fix it". I hate to see separation of parents and children".
    Germany 0 Mexico 1: Lozano stuns woeful reigning champion

    Germany 0 Mexico 1: Lozano stuns woeful reigning champion

    Mexico supporters outnumbered Germany fans at the Luzhniki Stadium and made nearly all of the noise, roaring their team forward. But during the 35th minute of the game, a attractive goal from Mexico's Hirving Lozano put the score at 1-0, Mexico.
  • Asian stocks extend slide, yen up as Sino-US trade dispute escalates

    Asian stocks extend slide, yen up as Sino-US trade dispute escalates

    But Beijing's mention of "comprehensive measures" suggests that it would go beyond tariffs , said Jake Parker of the U.S. In early trading, stocks in France, Germany and the United Kingdom also fell , while Asian markets also declined.
    Ted Cruz Wins One-on-One Charity Basketball Game Against Jimmy Kimmel

    Ted Cruz Wins One-on-One Charity Basketball Game Against Jimmy Kimmel

    You besmirched my support for the @ HoustonRockets . "The loser gives $5k to the (non-political) charity of the winner's choice". Kimmel said Cruz looked like a blobfish and a Munster from the eponymous 1960s television show The Munsters .
    Yussuf Poulsen goal powers Denmark to 1-0 win over Peru

    Yussuf Poulsen goal powers Denmark to 1-0 win over Peru

    That helped the keeper recover and leap to grab the ball as it came down with Peru players nearby looking to pounce. They have a quick style of play, and we know and have a lot of respect for them.
  • Sideline controversy as Senegal glide past Poland

    Sideline controversy as Senegal glide past Poland

    But playing in their second World Cup , Senegal showed a passion and physicality that their seeded opponents could not handle. Striker M'Baye Niang controlled the ball ahead of an advancing goalkeeper Wojciech Szczesny before tapping into an empty net.

    Rapper XXXTentacion Shot Dead In Broward, Reports Say

    Police dispatch audio obtained by TMZ shows the shooting was reported as a possible drive-by involving multiple gunshots. Videos of what appeared to be Onfroy unresponsive in the driver seat of a vehicle circulated on social media Monday.
    Leslie Grantham: EastEnders actor dies aged 71

    Leslie Grantham: EastEnders actor dies aged 71

    According to The Sun, the screen star had been visited in hospital by close friends in the industry. Grantham's management company, Advocate Agency, said he died Friday but did not disclose the cause.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.