New growth drivers break new ground for Chinese economy: Premier Li

Trump reportedly poised to slap tariffs on an additional $200 billion worth of Chinese imports

China has taken out Dollars 500 billion and more a year from the U.S. to rebuild itself, President Donald Trump has said as he defended his controversial trade policies, including the latest move to slap duties on USD 200 billion worth of Chinese imports. The US remains open to negotiations but China must show it's seriously willing to make systemic economic changes, the senior administration officials said on Monday. What China does not understand is that these people are great patriots and fully understand that....

After Trump announced tariffs on washing machines toward the start of 2018, the price for laundry equipment shot up 16 percent between February and May, according to an analysis by Mark Perry, an economics professor at the Flint campus of the University of MI and a scholar at the American Enterprise Institute, a conservative think tank.

'Today, following seven weeks of public notice, hearings, and extensive opportunities for comment, I directed the United States Trade Representative (USTR) to proceed with placing additional tariffs on roughly $200 billion of imports from China, ' the memo reads. "They also know that I am the one that knows how to stop it", he added.

Once the new round of tariffs takes effect on September 24, punitive duties will be in place on $250 billion in goods the United States buys from China - its largest source of imports.

China hit back with tariffs of its own on US$50 billion of U.S. products and focused on the agriculture sector - punishing industries whose workers largely supported Mr Trump. "Now it's just a question of how the Chinese can save face and say "alright we're going to change, going to open up wider access not only to the USA but to the European Union and Japan", said Christopher Peel, chief investment officer at Tavistock Wealth in London.

The move is in response to the Trump Administration's USA tariffs on Chinese-made goods, which starts at a rate of 10 percent and is expected to go into effect Monday, Sept. 24.

Trump's new tariffs came as a surprise to Chinese leaders, who were planning to send a delegation headed by Vice Premier Liu He to Washington next week for a fresh round of talks.

"As president, it is my duty to protect the interests of working men and women, farmers, ranchers, businesses, and our country itself", Trump said in a statement. That would mean the U.S. measures effectively cover all the goods China sells to the United States each year (the total for 2017 was about $506 billion).

Maroon 5 to play Super Bowl halftime
The outlet reported earlier today that an NFP representative told them the group would be performing. And for those of you who don't think Maroon 5 is cool enough, or good enough, or too safe?

ConCourt rules dagga legal for private use
Pro-marijuana activists cheered in the public gallery and chanted when the Constitutional Court gave its landmark ruling. The Constitutional Court has upheld the Western Cape High Court's ruling from a year ago .

Emmy Awards Touts Diversity While Shutting Out Latino TV Shows (Again)
President Trump's least favorite TV show, " Saturday Night Live ", picked up another Emmy for variety sketch series. The second season of the FX series received a total of 18 Emmy nominations this year, and walked with seven awards.

"Over the last number of years, China has taken out of this country United States dollars 500 billion and more a year".

Where Trump has made things complicated has been his failure to articulate exactly what the USA wants and how it wants to get there, Massot said.

The new tariffs could also sidetrack trade talks in Washington, D.C., set for next week between USA and Chinese officials.

China's Vice-Premier Liu He may cancel his visit to the US capital next week to restart negotiations with Treasury Secretary Steven Mnuchin, the South China Morning Post reported.

This week, Washington raised the stakes by saying it would impose new tariffs on $200bn (£152.1bn) worth of Chinese goods from Monday. They were among 300 tariffs lines that were removed from a preliminary list of targets for USA duties.

The escalating confrontation initially shook up global stock markets, but Wall Street was up early Tuesday largely on relief that Trump's tariffs could have been more severe. "We really went item-by-item trying to figure out what would accomplish the punitive objective on China and yet with the least disruption in the U.S". That would raise the total affected by US penalties to $517 billion - covering almost everything China sells the United States.

"China has been unable to match the U.S. dollar-for-dollar in this round of tariffs, so a key question is what other steps China might take", Mark Williams, chief China economist at research firm Capital Economics, wrote in a note.

Related news:

Hot News

isis-killer-beheading-video-story-top PAOK S'nika vs Chelsea | 20 Sep 2018
Sep 20, 2018 - 01:41
Their stumbling domestic form came on the back of an underwhelming summer which saw just three new arrivals at the club. Maybe he is the best. "I think he can score 30 or 35 goals this season", said Sarri.

isis-killer-beheading-video-story-top US Accuses Russia Of 'Cheating' On North Korea Sanctions
Sep 20, 2018 - 01:39
Nebenzya said that North Korea has been asked to accept "empty promises" in return for its efforts on denuclearization. Haley's call for the Security Council meeting on Monday was met with some bipartisan support in Congress.

isis-killer-beheading-video-story-top Captain Marvel: Does Carol’s Cat Make An Appearance on the Movie Poster?
Sep 20, 2018 - 01:25
The Academy Award-winning star of the movie seemed awfully proud of her super self, tweeting "Look Mom, I'm a superhero". The chatter on Twitter is high and heavy regarding Captain Marvel , and we've collected our favorites below.

isis-killer-beheading-video-story-top Pak court orders release of Nawaz Sharif, daughter; suspends jail term
Sep 20, 2018 - 01:19
They were charged with corrupt practices linked to the Sharif family's ownership of luxury flats in London. Moreover, the workers showered rose petals on the convoy of Nawaz Sharif as it left the prison premises.

isis-killer-beheading-video-story-top Trump says Federal Bureau of Investigation should not probe allegations against top court pick
Sep 20, 2018 - 01:15
Some Republicans pointed to the decades between the alleged attack and now. "I did not know her personally but I remember her". President Trump also defended Brett Kavanaugh , describing him as a "great gentleman". "Immediately after learning of Dr.

isis-killer-beheading-video-story-top Amazon looking to launch up to 8 Alexa-powered devices
Sep 20, 2018 - 01:13
Higher-end models provide further flexibility to explore Amazon's offerings beyond Xbox, but as always, these come at a premium. Per the report, the company intends to release at least eight new devices controllable by its digital assistant by year's end.

isis-killer-beheading-video-story-top 'Impeachment is hell,' ex-Clinton investigator Ken Starr cautions about Trump
Sep 19, 2018 - 02:47
His plea in December to one count of lying to the Federal Bureau of Investigation requires Flynn to cooperate with prosecutors. However, Graham said he was concerned about others involved in the initial stages of the Russian Federation probe.

isis-killer-beheading-video-story-top Graham willing to hear Kavanaugh accuser
Sep 19, 2018 - 02:29
He praised Kavanaugh, saying he was "at a level that we rarely see", but said he supported a review process in the Senate. Senate Republicans seemed to recognize the danger of appearing insensitive, said Ford O'Connell, a Republican strategist.

isis-killer-beheading-video-story-top Florence: North Carolina's rivers still rising after record rain
Sep 19, 2018 - 02:11
Property damage from the storm is expected to come to $17 billion to $22 billion, the risk management firm Moody's Analytics said. The National Weather Service considers flooding to be "devastating " once a height of 23 feet is reached for the river .

isis-killer-beheading-video-story-top Showdown between Kavanaugh, accuser scheduled for next week
Sep 19, 2018 - 01:46
A potential "no" vote from Flake would complicate the judge's prospects because Republicans control the committee by just 11-10. Democrats refused to participate, saying the seriousness of the charges merited a full FBI investigation.

isis-killer-beheading-video-story-top Trump Readies Tariffs on $200 Billion More Chinese Goods
Sep 19, 2018 - 01:34
Even as Trump was expressing his continuing affection for Xi on Monday his aides were making their frustration with Beijing clear. There have been periodic reports that the Trump administration was on the verge of resuming talks with Beijing .

isis-killer-beheading-video-story-top Kieran Trippier lauds Spurs manager Mauricio Pochettino for rapid rise
Sep 18, 2018 - 02:07
The Brazilian footballer recently received a painful injury at Tottenham Hotspur , during the Saturday's 2-1 win. So we carry on, ' the Reds boss said.

isis-killer-beheading-video-story-top Clay Matthews blasts roughing call late in Vikings-Packers tie
Sep 18, 2018 - 01:51
Of the cumulative 480 yards that the Vikings accrued in the game against the Packers' defense, 425 of them came through the air. Instead, it resulted in the Packers' first tie since 2013 when Matt Flynn was the quarterback: a 26-26 tie against the Vikings.

isis-killer-beheading-video-story-top Mark Burnett, Tom Arnold brawl at party
Sep 18, 2018 - 01:48
Arnold reportedly pushed Burnett who pushed him back and that's when Arnold ripped Burnett's crucifix necklace off of his neck. Arnold's comments contributed to the view of the Burnett camp that the confrontation at Evening Before was planned by Arnold.

isis-killer-beheading-video-story-top Coke eyes cannabis-infused drink market
Sep 18, 2018 - 01:43
Coca-Cola insisted " no decisions have been made at this time " and said it would not comment on further speculation. Coke added that despite their interest in the infused-drink market, "The space is evolving quickly".