Friday, 15 November, 2019

China Preps Tariff Response as Trump Sees a Xi Call ‘Very Soon’

The office of US Trade Representative Robert Lighthizer on Tuesday announced a list of Chinese goods exempt from a fresh round of tariffs slated to take effect next month U.S. delays 10% Chinese tariff on toys, electronics, games and clothes
Russell Knight | 16 August, 2019, 16:47

On August 13, the US administration announced that the new 10 percent tariffs on certain consumer goods would be delayed until December 15 to spare American consumers during the holiday season. The fact that the IRS pilfers part of most Americans' paychecks before they ever see that money themselves, they argue, is a system created to desensitize taxpayers to just how much of their hard-won lucre Uncle Sam is helping himself to.

The administration is still moving ahead with imposing the 10 percent tariffs on much of the $300 billion list of Chinese goods, including smartwatches, to start on September 1.

US stocks finished the day higher after getting whipsawed throughout the session as Treasury yields plummeted to levels unseen in years. The Labor Department also reported that USA productivity rose 2.3 percent in the second quarter.

Mr. Trump says China might be trying to wait until the 2020 election, to see if they can deal with someone else.

That eased the concerns of a trade war-driven slowdown in global growth that have dominated two weeks of volatile trading on Wall Street, since President Donald Trump announced a new round of tariffs on August 1.

Every single American, especially the poorest, benefit when their dollars go further, allowing them to afford their daily necessities.

United States stocks fell sharply on Wednesday after Germany reported its economy contracted in the second quarter, and data from China showed industrial ouput slumped to a 17-year low.

Huawei Mate X will launch in November after Samsung Galaxy Fold
Except we all know they both lost to Royole who released their bendy phone earlier in the year, when it sold out in hours. So close, yet so far for Huawei , whose foldable Mate X smartphone is reportedly being delayed once again.

Kourtney Kardashian Praised on Instagram for Showing Her Stretch Marks
Responding to a fan that questioned her decision to leave her stretch marks untouched, Kourtney wrote: "I love my little stripes". Given how many times they have been blasted for allegedly editing photo of their body, fans are loving this.

Mike Tyson says he burns through $40,000 of weed every month
He previously said about his venture: "I thought about how much good I could do by helping people with cannabis". Revelers enjoyed smoking weed with Tyson, the music, and had a taste of what the future ranch would host.

Many consumer-friendly products - including cellphones, laptops, video games, clothing and shoes - were among the products targeted in the new round of tariffs. Already aluminum and steel have been impacted by past measures, and economists are anxious about the trade war causing slower economic growth or even a recession.

Although the heightened trade tensions between Washington and Beijing has resulted in a near $10 billion decrease in US agricultural exports to China, domestic farm exports have continued to rise. One camp, which includes Steven Mnuchin and Larry Kudlow, is optimistic that the administration can reach a trade deal with Beijing as things stand now.

Last week, global currency markets were shaken after Chinese officials raised the specter of a currency war with the United States in response to a new tariff threat from the Trump administration.

This came a day after the Dow closed up 373 points, responding to news that the U.S. Trade Representative announced the delay in the additional 10% import tax until mid December.

The conciliatory tone was struck in the face of mounting pressure on President Trump from consumer groups over the harm that has been caused to global trade by the continuing trade war between the U.S. and China. Washington, meanwhile, only has about 5 percent of a year's worth of reserves saved for an emergency.

Beijing has retaliated by imposing punitive duties on $110 billion of American goods. ME is the sole commercial producer of wild blueberries in the United States, and the industry has struggled in recent years with falling crop sizes and low prices to farmers. The body did not elaborate on what steps it is going to take.

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