Monday, 27 May, 2019

Trump says trade deal with China was 95 percent done

Trump says China is ‘DREAMING’ of a Sleepy Joe Biden presidency Enlarge Image AP
Russell Knight | 14 May, 2019, 13:54

With investors anxious about the potential economic damage on all sides from the escalating trade war, the Dow Jones Industrial Average fell 617 points, or 2.4%, and the technology-heavy Nasdaq plunged 270 points, or 3.4%, its biggest drop of the year.

China on Monday increased tariffs on $60 billion of US goods.

The Dow in the U.S.at one point dropped 719 points and finished down 2.4 percent for the day.

Hong Kong's Hang Seng Index was down 1.6 percent on Tuesday afternoon. The S&P 500 was trading 4.4 per cent below its all-time high close.

"We have a very good relationship, maybe something will happen", Trump said.

The result has been a volatile week-long roller coaster with no end in sight. Apple's share price fell about four percent in pre-market trading Monday.

Last Thursday morning the Dow skidded 580 points, only to regain almost 470 by close of trading on Friday.

The U.S. Trade Representative's office said later it planned to hold a public hearing next month on the possibility of imposing duties of up to 25% on a further $300 billion worth of imports from China.

However, one expert, Chen Wenling, chief economist with the China Center for International Economic Exchanges, missed the mark when he said that the trade war had been provoked by the US and has been ineffective. The Trump administration issued such assistance to farmers during a previous round of China's retaliatory tariff increases.

In addition to tariff hikes, China could also use other measures to hit back at the United States, as it imports fewer U.S. products - which limits its ability to match tariffs dollar-for-dollar.

Trump's pledge on Friday to buy American farm products that China normally imports and distribute them to poor countries drew criticism from Canada.

Ahed in London March for Solidarity With The Palestinian People
Reportedly, Egypt and Qatar have mediated this truce. "What really happened that day", reads a description on the BBC website . Gazans have held weekly rallies since March 2018, primarily to draw global attention to the dire living conditions.

Dow tumbles more than 500 points as China retaliates on tariffs
North American stock markets fell in late-morning trading as the trade war between the USA and China escalated. Analysts have said investors should prepare for a more volatile stock market while the trade dispute deepens.

China will "never surrender" in trade row
He said officials might be anxious companies may shift operations out of China in response to "aggressive retaliatory actions". Trump chose to increase the tariffs following what the US called China's decision to renege on key parts of a developing deal.

Commenting on Twitter, Trump warned China to cut a deal soon or face even further damage. He emphasized the talks' ongoing nature and discouraged the term "trade war", saying the tariffs were simply part of the negotiations.

Earlier, US President Donald Trump denied that US consumers would pay for higher tariffs on Chinese imports and warned China not to follow suit.

The president said Monday that that's not inevitable. That's Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia.

USA stock prices plunged on the news. That brought the total of Chinese goods hit with the 25 percent tariff to $250 billion.

He added that U.S. consumers could avoid the tariffs by buying the same products from other sources.

The two countries are sparring over United States allegations that China steals technology and pressures U.S. companies into handing over trade secrets, part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries. "That's why China wants to make a deal so badly!" he said. It is hard because Trump has put forward unreasonable goals: from a quick cut of trade deficits to a reshuffle of China's economic policies and structures. "They are not victims of China's 'unfair competition, '" the editorial read.

The White House is now considering levying tariffs on another $300bn worth of Chinese consumer products.

Larry Kudlow, the chairman of the president's National Economic Council, conceded Sunday in a TV interview that tariff costs are generally passed through in the form of higher prices for customers. "I don't disagree with that", he said to Fox News' Chris Wallace.

The trade tensions have also rattled financial markets, jeopardizing a US stock market rally that Trump sees as a vote of confidence in his economic policies.

But on May 5, President Donald Trump suddenly expressed frustration at the pace of talks and vowed to raise tariffs.

Recommended

Dog disease that can be passed to humans confirmed in US Dog disease that can be passed to humans confirmed in US The statement also encouraged people to thoroughly wash their hands "after handling animals - even household pets". Dogs with inflamed lymph nodes, acting abnormally, losing weight, or are lethargic may be infected.

Quakes show that moon, gradually shrinking, is tectonically active Quakes show that moon, gradually shrinking, is tectonically active The content of this article does not necessarily reflect the views of these organizations. The innermost planet Mercury boasts numerous thrust faults.

Suns Josh Jackson Arrested At Rolling Loud Music Festival Suns Josh Jackson Arrested At Rolling Loud Music Festival He was taken to the corrections office at Hard Rock Stadium, where he was processed and released after posting a $1,000 bond. He was cited for "duty upon striking an unattended vehicle, inattentive driving and improper backing".

Actress Felicity Huffman pleads guilty to charges related to college admissions scam Actress Felicity Huffman pleads guilty to charges related to college admissions scam According to court documents, Huffman paid Singer's Key Worldwide Foundation (KWF) $15,000. "No, your honour", Huffman replied. She also considered going through with the plan for her younger daughter before ultimately deciding not to, authorities say.

Three New iPhone 11 Models Will Arrive With Outstanding Features Three New iPhone 11 Models Will Arrive With Outstanding Features They say that the new high-end models are codenamed D43 and D44, while the successor to the iPhone XR is called N104 internally. The iPhone 11 is still a while away, and as with every Apple flagship, comes numerous rumours and leaks about the device.

WhatsApp warns hackers can use the call function to spy on users WhatsApp warns hackers can use the call function to spy on users The lawyer acted for a Saudi dissident who had sued NSO Group for selling its software to repressive regimes in the Middle East. It is not yet clear how many people were targeted and spied on in total, though the WhatsApp team is still investigating.

Three confirmed killed in mid-air seaplane crash in southeastern Alaska Three confirmed killed in mid-air seaplane crash in southeastern Alaska At least 10 others have been hospitalised, according to the US Coast Guard and Federal Aviation Administration officials. Weather conditions in the area on Monday included high overcast skies with 9 miles per hour (14 kph) southeast winds.

Jury returns $2 billion verdict against Monsanto for couple with cancer Jury returns $2 billion verdict against Monsanto for couple with cancer In March, a federal jury in San Francisco awarded $80 million to another California man after finding Roundup caused his cancer. In the first, school groundskeeper Dewayne "Lee" Johnson was ultimately awarded $78.5 million .

Halep beats Bencic to reach fourth Madrid Open final Halep beats Bencic to reach fourth Madrid Open final She also becomes the first woman to win in Madrid without dropping a set. For more sports coverage, visit the ABS-CBN Sports website .

UEFA will recommend banning Manchester City from Champions League after investigation UEFA will recommend banning Manchester City from Champions League after investigation English soccer authorities and also officials from UEFA have been investigating the club for months. This feat has only been achieved by Manchester United who did it twice under Sir Alex Ferguson.

Apple Just Released The New Apple TV App Apple Just Released The New Apple TV App Apple TV+ is Apple's own video subscription service, with completely original content that won't be accessible anywhere else. The app will make recommendations based on a mix of curation by human editors and a viewer's watching habits.

The Internet Thinks That Episode Game Of Thrones Was Munted The Internet Thinks That Episode Game Of Thrones Was Munted Lena Headey previously told EW she didn't agree with the decision in the Season 8 premiere for Cersei to have sex with Euron. She's also someone who has had really close friendships and close advisors for her entire run of this show.

Pacquiao vs. Thurman: Neither Boxer Can Afford a Loss Pacquiao vs. Thurman: Neither Boxer Can Afford a Loss If we get that fight, we'd be happy to do it for ourselves and the fans'. I thought his style would match up well with mine.

MI basketball coach John Beilein leaving for the NBA MI  basketball coach John Beilein leaving for the NBA Beilein replaces Larry Drew, who finished last season after Tyronn Lue was sacked six games into the campaign. Talks between the Cavaliers and Beilein escalated quickly over the weekend with a deal reached on Sunday.

Giuliani Cancels Trip to Ukraine; Biden's Camp Responds Giuliani Cancels Trip to Ukraine; Biden's Camp Responds One is the origin of special counsel Robert Mueller's investigation into Russian interference in the 2016 US election. Trump had told Politico earlier Friday that the trip could have been a "big situation" for the former vice president.