Sunday, 22 September, 2019

China to exempt 16 United States products from tariffs ahead of trade talks

Traders work on the floor at the New York Stock Exchange Sept 9 2019 China’s Xi ‘Can’t Believe What Trump Says’ Regarding Trade War
Russell Knight | 12 September, 2019, 02:45

Chinese imports of US goods tumbled 22.5% in August from a year earlier and exports to the United States, China's biggest foreign market, fell 16%.

China retaliated on the same day with its own round of tariffs on US goods and announced the following day its decision to lodge a case at the World Trade Organization over the latest U.S imposition of import duties on Chinese exports to the United States.

The exemptions include such items as lubricants, fish meal and cancer drugs but notably do not apply to agricultural products like soybeans and pork or manufactured goods.

China is not the first to offer exemptions during this trade war.

Beijing said in May that it would start a waiver program, amid growing worries over the cost of the protracted trade war on its already slowing economy.

Some U.S. tariffs across approximately $263 billion worth of annual imports from China - originally planned for a rate of 10% - took effect at a rate of 15% on September 1, after USTR announced increases.

Xi further complained to Abe that while the Trump administration has repeatedly criticized Beijing for supporting state-owned companies with subsidies, "the U.S.is also providing Boeing with subsidies", referring to the Chicago-based US airplane manufacturer.

Moreover, major U.S. imports, such as soya beans and pork, are still subject to hefty additional duties as China ramped up imports from Brazil and other supplying countries.

France knock holders US out in huge World Cup shock
Gobert and Orlando Magic guard Evan Fournier led France throughout the game, and Gobert was impactful on both ends of the floor. He thinks this may have players taking action and saying, "Next time around the block we're gonna have to show up".

Ghostwriter Reboot Series Set to Premiere On November At Apple TV+
Apple did not announce first-party sleep tracking with the new model, which was something rumors and leaks heavily claimed. Apple TV + will be available to users in India starting 1 November and will be available to users at just Rs 99 per month.

H&M halts leather sourcing from Amazon as corporate backlash over fires continues
Last week, the Brazilian President signed an executive order forbidding fires during the dry season in the Amazon. Researchers have detected nearly 50,000 fires in the Amazon region this year, the highest number in a decade.

Abe reportedly told Xi that Trump trusts the Chinese president, but Xi continued to voice frustration and the big reason for his distrust is how the USA has handled Chinese telecom giant Huawei, which has been banned from us networks and from buying American tech.

The two governments "are unlikely to reach a deal this year", said Pang.

Over the past year, the world's two largest economies have imposed tariffs on billions of dollars worth of one another's goods. Tariffs already imposed on these items are deemed non-refundable.

Trump has imposed or announced penalties on about $550 billion of Chinese products, or nearly everything the United States buys from China.

China has raised duties on about $120 billion of USA products, economists estimate. Some have been hit with increases a few times, while about $50 billion of US goods is unaffected, possibly to avoid disrupting Chinese industries.

China has imposed several rounds of tariffs on USA imports in the ongoing tit-for-tat dispute between the two countries. Beijing responded by imposing duties of 10% and 5% on a range of American imports.

For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.

Talks broke down in May over how to enforce any agreement. Trump has warned China will face a tougher USA negotiating stance if he is re-elected.

Recommended

Brexit: Nigel Farage election pact proposal rejected by No 10 Brexit: Nigel Farage election pact proposal rejected by No 10 Jeremy Corbyn told the TUC: "a general election is coming". "If we did it we could win, whereas if we don't I fear we won't". The Conservatives said Mr Watson had made it clear he wanted to "cancel" the 2016 Brexit referendum result.

Federal party leaders kick off 2019 election campaigns Federal party leaders kick off 2019 election campaigns At the dissolution of Parliament, the Liberals hold 177 seats, the Conservatives 95, the NDP 39, the Bloc 10 and the Greens 2. The federal election is officially a go.

UK court rules Boris Johnson's suspension of Parliament unlawful UK court rules Boris Johnson's suspension of Parliament unlawful On her social media site, Haddon said: "Regardless of the final outcome, it is a pretty uncomfortable position for the Palace". Johnson's Brexit plan which MPs fear could lead to a no-deal departure and have devastating consequences for the economy.

Zimbabwe: Government Silent On Mugabe Burial Place Zimbabwe: Government Silent On Mugabe Burial Place The coffin was accompanied by Grace Mugabe, the president's widow, who had been living in Singapore with her husband since April. The outspoken former president ruled the southern African nation for 37 years until he was ousted in November 2017.

Government will propose banning flavors used in e-cigarettes Government will propose banning flavors used in e-cigarettes The proposed ban comes as cases of vaping-related lung illnesses have surged in recent weeks. Tobacco flavored versions will remain on the market.

Asteroid hits atmosphere over the Caribbean Asteroid hits atmosphere over the Caribbean The giant asteroid, tracked by NASA's Jet Propulsion Laboratory in California, is headed on an Earth Close Approach Trajectory. Asteroid CO1 is a "Potentially Hazardous Asteroid" (PHA) and "Near-Earth Object" (NEO) confined to the inner solar system.

Apple slams Google for raising false alarm on iOS vulnerabilities Apple slams Google for raising false alarm on iOS vulnerabilities Despite the competitors between Apple and Google, the Project Zero crew does no longer target Apple alone. Security is also a centrepiece of Apple's first credit card, the Apple Card, which launched last month .

Johnson warned that general election 'is coming' Johnson warned that general election 'is coming' Voting against a general election offered by the sitting PM when Labour has been calling for one for months is not a good look. Johnson acknowledged Monday that a no-deal Brexit "would be a failure of statecraft" for which he would be partially to blame.

Hong Kong Exchange proposes $36B takeover of London Stock Exchange Hong Kong Exchange proposes $36B takeover of London Stock Exchange HKEX said it meant to apply for a secondary listing of its shares on the LSE once the deal has gone through. The Hong Kong exchange is required to make a binding offer by October 9.

Apple unveils latest iPhones, Apple Watch Apple unveils latest iPhones, Apple Watch The company also announced a new iPad - the seventh version - that comes with a larger 10.2in display and a full-size keyboard. Starting that day, anyone who can access the Apple TV app on their devices can begin subscribing for $4.99/month.

Volkswagen Kicks Off Its EV Era With The ID.3 At Frankfurt Volkswagen Kicks Off Its EV Era With The ID.3 At Frankfurt The entry-level auto will get navigation, digital radio, seat and steering wheel heating, front armrests, and 18-inch wheels. Volkswagen has plans to build more than 10 million electric vehicles in the next 10 years with 20 different e-models.

India coach Stimac: 'More than happy to get a point against Qatar' India coach Stimac: 'More than happy to get a point against Qatar' They have had most of the ball and all the big chances while India have not even had a shot at the Qatari goal in the first half. However, the Indian defense and keeper which stood up to the test for most part of the match nearly caved in.

Google Pixel 4 XL to Come with 6.23-inch Display, Snapdragon 855 Google Pixel 4 XL to Come with 6.23-inch Display, Snapdragon 855 This leak also showed the Pixel 4 will be boasting three rear cameras and a sensor which is all housed in a square encasing. This render showcases the front of the Pixel 4, giving us a clear look at the bezels surrounding its display.

Bianca Andreescu congratulated by Justin Trudeau after winning US Open Bianca Andreescu congratulated by Justin Trudeau after winning US Open It's also the number of aces Andreescu had in the match and the number of aces and double faults Williams made in the second set. Open final after defeating No. 5 seed Elina Svitolina in straight sets on Thursday night.

New iPhones woo users to Apple television and games New iPhones woo users to Apple television and games But this time around, the iPhone 11 , iPhone 11 Pro and iPhone 11 Max offer a bigger step up from the last generation. The Silicon Valley titan also announced a new 10.2-inch iPad with retina display and a beefed-up A10 Fusion chip.