Markets

China has many means to counteract USA tariffs

China has many means to counteract USA tariffs

Trump also is moving forward with plans to tax a further $200 billion in Chinese products as soon as September and has threatened to eventually impose tariffs on all Chinese imports, which totaled $505 billion previous year, unless China capitulates.

China's refined products exports last month were 4.57 million tonnes, almost flat from a year earlier.

The Trump administration on Tuesday announced a 25% tariff on $16 billion worth of Chinese exports to the U.S., adding to the $34 billion worth of Chinese goods already subject to tariffs. "Although these tariffs will not be levied on imports from other countries, it is our understanding that other regions may not be able to fulfill all of China's demand", the USA trade body said. The administration has threatened to impose tariffs on another $200 billion of Chinese products, possibly by the beginning of September, following public hearings on the proposed measures later this month.

Exports rose 12.2pc in July in dollar terms from a year earlier, the customs administration said, faster than the forecast 10pc.

Last year's imports from the United States totaled about $130 billion.

"After more than a century of hard work, China has returned to the centre of the world stage, and this is the basic fact we must observe in the China-U.S. trade friction", the paper wrote.

China's exports surged more than expected in July despite US duties and its closely watched surplus with the United States remained near record highs, as the world's two major economic powers ramp up a bitter dispute that some fear could derail global growth.

Now the US says, its considering hiking proposed tariffs on an additional $200 billion dollars worth of Chinese goods.




China's exports grew faster than expected, while imports surged, showing both domestic and worldwide demand have so far been able to shrug off the uncertainty of the trade conflict.

According to Panjiva research, a business intelligence firm owned by S&P Global, China's $60 billion figure hits 56% of USA exports, including 85% of all electrical machinery and 75% of electronics. He pointed to the fall in Chinse stock markets, down by more than 25 percent so far this year, and the fall in its currency, the yuan. Economic growth has slowed since regulators tightened controls on bank lending to rein in surging debt.

The unusually strong July import figures reflected higher prices, according to Evans-Pritchard. The tariff total could actually increase soon.

They followed the first round of tariffs in March 2018 on imports of Chinese steel and aluminium, which prompted a like-for-like tariff on the US. In the meantime, its trade gap with the 28-nation European Union contracted 8 per cent to $11.2 billion.

China is running out of American goods for retaliatory tariffs due to their lopsided trade balance.

Take the list of 16 billion dollars' worth of Chinese exports to the United States as an example. That leaves only about $20 billion for penalty tariffs after increases that have already been imposed or threatened on USA goods are counted.

Beijing has stepped up efforts, so far without success, to recruit governments including Germany and France as allies.


  • Turkey's floundering economy exacerbated by Trump tariffs

    Turkey's floundering economy exacerbated by Trump tariffs

    The diplomatic dispute with the USA was one of the triggers that turned market jitters into a full-blown route this week. The lira lost 12pc against the dollar on Friday following an escalation of the tensions between Turkey and America.
    Zimbabwe Opposition Lodges Appeal Against Election Result

    Zimbabwe Opposition Lodges Appeal Against Election Result

    "All proceedings are suspended pending the determination of the Constitutional Court". "It will no longer happen". The courts may take one day or three days but that has to be within the 14 days.
    Rookie RB Guice has sprained MCL

    Rookie RB Guice has sprained MCL

    He played sparingly past year , and likely won't see his role increase that much as a result of Guice's injury. In camp, Guice had been splitting first-team carries with Rob Kelley and Samaje Perine .
  • Airline Worker Steals Aircraft, Crashes Near Seattle

    Airline Worker Steals Aircraft, Crashes Near Seattle

    Within minutes of the plane's takeoff, the military scrambled two F-15 jets from Portland to follow the plane authorities said. Air traffic controllers and pilots could be heard discussing a "ground stop" and dealing with a backlog of aircraft.
    Church in India's Kerala state aiding people affected by rains, floods, landslides

    Church in India's Kerala state aiding people affected by rains, floods, landslides

    The Army is taking part in rescue-relief and damage control exercises in Idukki , Wayanad , Kozhikode and Malappuram districts. Earlier in the day, three shutters of the Cheruthoni dam were raised by 100 cm with 425 cumecs water gushing out every second.
    Perseids likely to be the best meteor shower of the year

    Perseids likely to be the best meteor shower of the year

    The Perseids appear to radiate from the constellation Perseus, visible in the northern sky soon after sunset this time of year. If you take a peek next Friday or Saturday nights, you'll likely still see 80 or more meteors per hour.
  • This Weekend Is The Perseid Meteor Show - Viewing Conditions Will Be Perfect

    This Weekend Is The Perseid Meteor Show - Viewing Conditions Will Be Perfect

    The ice and dust, accumulating over a thousand years, burn up in our atmosphere to create the meteor shower. Every meteor we see is actually a tiny piece of the comet burning up as it strikes the Earth's atmosphere.
    Jose Mourinho criticises Manchester United summer - Leicester spent more than us

    Jose Mourinho criticises Manchester United summer - Leicester spent more than us

    Dion Dublin was speaking to BBC Sport's Chris Bevan . Paul Pogba couldn't play 90 minutes, Fred the same. We played very well, the performance was OK.
    Spacewatch: Firing up for a close encounter with the sun

    Spacewatch: Firing up for a close encounter with the sun

    These disturbances can also create complications as we attempt to send astronauts and spacecraft farther away from the Earth. Eugene Parker , 91, professor emeritus at the University of Chicago, predicted the existence of solar wind 60 years ago.
  • Last Solar Eclipse of 2018 to Occur today

    Last Solar Eclipse of 2018 to Occur today

    Eclipse glasses, a pinhole viewer or a telescope with a solar filter are the safest ways to watch the eclipse , NASA says. The Aug. 11 eclipse marks the end of this eclipse season after two previous eclipses during the month of July .
    Google is making sure you know Fortnite is not on Google Play

    Google is making sure you know Fortnite is not on Google Play

    Because there are no Android servers yet, this is the only way for Android players to get into a live game now . Subsequently, once this wave starts to subside, the company will then bring Fortnite on Play Store.
    Samsung Galaxy Note 9 forums are now open

    Samsung Galaxy Note 9 forums are now open

    The one you see in the image above is the 42mm one, as it also comes in a black 46mm variant for those that have massive wrists. In the US , the Galaxy Watch LTE version will be available through AT&T, T-Mobile, Sprint and Verizon as well as at Samsung .