China says tariff threat against USA 'justified'

China is threatening to impose tariffs on U.S. coffee and honey

In a front-page editorial on Monday, the overseas edition of People's Daily said Trump was "starring in his own carefully orchestrated street fighter-style deceitful drama" in which diplomacy had been reduced to nothing but a "trading game in which everything should follow the rule of America first".

On Saturday, President Donald Trump praised his tariff plan and insisted, "steelworkers are working again, and big dollars are flowing into our Treasury".

"Governing a country is not like doing business", the state-sponsored newspaper added.

White House economic adviser Larry Kudlow said the yuan is falling partly because China is a "lousy investment", trash talking the world's second-largest economy after it threatened more retaliatory tariffs on USA exports.

Days later, Washington unveiled a list of another $200 billion in Chinese goods, from areas as varied as electrical machinery, leather goods and seafood, that would be hit with 10 percent import duties.

China has threatened to impose new tariffs of 5 per cent to 25 per cent on about $60 billion of American exports, escalating a trade dispute between the world's two largest economies.

"It looks to me like the China economy is declining in growth", said Kudlow. The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy.

USA companies are putting in place measures to cushion the impact of the trade row, including price hikes, and a number of companies - from industrial firms to home furnishers and toymakers - have said they will move some sourcing and manufacturing outside of China.

FILE PHOTO: Shipping containers, including one labelled "China Shipping", are stacked at the Paul W. Conley Container Terminal in Boston, Massachusetts, U.S., May 9, 2018. The deficit climbed $3 billion to $46.3 billion in June from $43.2 billion in May, the Commerce Department reported Friday.

Facebook Wants Access to Your Banking Data
However, concerns over data sharing and privacy have held up talks with at least one bank, sources told the Wall Street Journal . But according to the Journal, financial institutions are reluctant to partner with the social network over privacy concerns.

Rangers closing in on Croatia full-back Borna Barisic
While a third reflected on the decision made by Rangers' board. "This is the manager we have been needing", they said. The Liverpool legend then went on to explain what is different about Rangers this season.

Corbyn Supporters Call On Deputy Leader To Quit With #ResignWatson Hashtag
Yesterday, in a new video, Mr Corbyn said driving out anti-Semitism and working with the Jewish community were "vital priorities". He called on Corbyn to adopt in full an internationally accepted definition of antisemitism.

Still, despite the data, Trump reiterated in a tweet Sunday that his tariffs are working "big time".

President Donald Trump and China have been engaged in a tense trade war for over five months.

The U.S. has imposed tariffs targeting aerospace, robotics and other forms of technology, while China retaliated with tariffs on agricultural products, seafood and cars, among other things.

But Secretary of State Mike Pompeo remained steadfast on Washington's push for fairer trading conditions. "Market participants foresee a relatively stable Chinese currency in the near term, without fear of impacts from the U.S".

While U.S. crude exports to China appear to have held up in August, with about 342,000 bpd expected to arrive, they seem set for a slump in September.

China has said new duties will be applied only if Washington pulls the trigger on its new tariffs.

"Instead of retaliating, China should address the longstanding concerns about its unfair trading practices, many of which are laid out in USTRs 301 report", Sanders told Breitbart News in a response to news of the $60 billion in Chinese retaliatory tariffs on US goods.

"Regardless of a potential breakthrough, we believe that this Chinese trade fight will last well beyond the midterm elections as the reforms sought by the Trump Administration will be hard for China to accept and implement". "China has time to fight to the end". Spillovers from that upset contributed to a sharp slowdown in US growth in the second half of the year.

Related News:

  • Kim Kardashian Just Set The Record Straight After Fighting With Her Sisters

    Kim Kardashian Just Set The Record Straight After Fighting With Her Sisters

    She said: "The beginning parts of working out kind of suck because you're pushing your body so hard, you're so exhausted ". Well, Khloe you might be finding this amusing enough to type "LOL" but Kourtney is clearly in her feelings about it all.
    California office pool wins $543 million lottery jackpot

    California office pool wins $543 million lottery jackpot

    Ernie's Liquors in San Jose, the retailer that sold the winning California ticket, will receive $1 million from the lottery. Reyes said the group hadn't played any tickets in the previous 22 drawings as the potential prize climbed from $40 million.
    Patricia de Lille to step down as mayor of Cape Town

    Patricia de Lille to step down as mayor of Cape Town

    De Lille, who was elected mayor as mayor in 2011, has been battling party members who sought to oust her over her leadership style.
  • Beyonce was 'suffering from toxemia' before birth of twins

    Beyonce was 'suffering from toxemia' before birth of twins

    It's the most intimate portrayal of the singer we've had in along time but, of course, the interview was completely on her terms. It's that thought that led to her wearing minimal makeup for the photos, as well as pose without wigs or hair extensions.
    Browns Trade 2016 First Rounder Corey Coleman To Bills For Draft Pick

    Browns Trade 2016 First Rounder Corey Coleman To Bills For Draft Pick

    According to ESPN , Coleman played in nine games in the 2017-2018 season for Browns, after missing seven games with a hand injury. Coleman caught 56 passes for 718 yards and five touchdowns with the Browns, who are still in the market for a wide receiver.
    Dave Bautista Says 'Guardians Of The Galaxy Without James Gunn isn't Guardians'

    Dave Bautista Says 'Guardians Of The Galaxy Without James Gunn isn't Guardians'

    But it's a part of our fabric now, and I get it", Russell said during an Emmy celebration event. The ousted director apologized for his tweets hours after the firing. "It's sad.
  • First Look at Margot Robbie as Sharon Tate

    First Look at Margot Robbie as Sharon Tate

    The two are both struggling to make it in the entertainment industry "at the height of hippie Hollywood", as Tarantino describes. Earlier, Leonardo DiCaprio shared a photo of himself and Brad Pitt on set in some very era-appropriate threads.
    Google is releasing the finished version of Android Pie today

    Google is releasing the finished version of Android Pie today

    Today, Google announced Android 9 Pie , the next version of OS which has been in testing since February . For the past two iterations of Google's Pixel phones , the unveiling has happened on October 4.
    Ethereum Classic Finally gets Added to Coinbase

    Ethereum Classic Finally gets Added to Coinbase

    The customers who had not opted for withdrawal of funds will receive the same amount of Ethereum Classic credit on the exchange. Coinbase intend to allow 24-48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading.
  • Robert Redford Announces He's Retiring From Acting After 60 Years

    Robert Redford Announces He's Retiring From Acting After 60 Years

    On paper at least, David Lowery's The Old Man & The Gun feels like a ideal swan song for Redford's legendary cinematic career. Russell, Paul Thomas Anderson, Steven Soderbergh, James Wan, Edward Burns, and Jim Jarmusch.
    44 people shot, 5 killed, in Chicago on Sunday

    44 people shot, 5 killed, in Chicago on Sunday

    Earlier this month, the Chicago Tribune reported that there had been 532 fewer shootings this year compared to 2017. A single shooting in Gresham wounded eight people , including four teenage girls, as they stood in a courtyard.

    China says it will retaliate with tariffs on $60B of U.S. goods

    Trump has ultimately threatened tariffs on over $500 billion in Chinese goods, covering virtually all USA imports from China. The Ministry said it would impose tariffs ranging from five to 25 per cent on Dollars 60 million worth of American products.

Most liked

Kei Nishikori nemesis Alexander Zverev reaches Citi Open semi-finals
The 19-year-old Tsitsipas is coming off his first run to the fourth round at a Grand Slam tournament, last month at Wimbledon. Murray, now ranked at No. 832 in the world, is a three-time Grand Slam champion and back-to-back Olympics champion.

Red Tide Kills Thousands Of Fish, Marine Life
The sparkling white sand of Florida's southwestern beaches aren't dotted with sunbathers this week. At least 90 sea turtles have been found stranded as the tide stretches well into nesting season.

McLaren came close to signing Ricciardo - Zak Brown
Ricciardo's shock decision to quit Red Bull for Renault will have immediate and unexpected repercussions in the F1 driver market. It will be interesting to see if Red Bull's team orders now favour Max Verstappen, who will be their main driver from next year.

Trump associate interacted with alleged Russian spy before election
Zakharova described Butina's treatment in jail "as complete lawlessness" and urged the global human rights community to intervene. The emails, as described to the newspaper, show the pair met at a party at the Swiss ambassador's residence in September 2016.

NASCAR CEO Brian France charged with DWI in NY , police say
France became chairman and CEO of NASCAR in 2003, a position that makes him one of the most powerful figures in sports. During the traffic stop, police determined France was operating his vehicle "in an intoxicated condition, Drake said".

A 9-Year-Old Boy's Lemonade Stand Was Robbed at Gunpoint
Police in North Carolina are searching for a suspect accused of robbing a 9-year-old boy's lemonade stand at gunpoint. Neighbors describe the boy as an entrepreneur, with lemonade, landscaping, and mowing businesses.

China hits back at United States with $60bn tariff threat
China immediately expanded its own list of types of US products to be tariffed, including farm products, cars and crude oil. For example, he claimed that China was financing advertisements to convince Americans to stop Trump's trade agenda.

Fortnite: Gas Station, Soccer Pitch, & Stunt Mountain Treasure Location (Season 5)
You obtain this at level 27 in the Battle Pass and it will cause your character to swing his pickaxe like a golf club. At the time it just looks like you'll have to wait until they're added back before you can complete this challenge .

Facebook Removes Alex Jones And InfoWars Pages
He has also promoted a theory that the 2012 Sandy Hook school massacre was faked by left-wing forces to promote gun control. Those have been pulled from the iTunes directory, making them no longer searchable or available for download or streaming.

PepsiCo CEO Indra Nooyi to step down, Ramon Laguarta to succeed
PepsiCo today announced that its board of directors has unanimously elected Ramon Laguarta , 54, to succeed Indra K. Nooyi will be succeeded on October 3 by Ramon Laguarta, who has served as Pepsi's president since previous year .

Apple takes an axe to its App Affiliate Program
All other content types such as music, movies, books, and TV remain in the affiliate program, the company wrote in a post . For more information on commission rates, please see our Commissions and Payments page on the Affiliate Resources site.

Burnley sign Ben Gibson for joint record fee, move in on Hart
However, Boro boss Tony Pulis admitted on Friday the club would likely have to accept a deal if one of their players wants to play in the Premier League .

Wes Brown tips Paul Pogba to stay put at Manchester United
Mino Raiola, his agent, has flown into England to hold talks with Pogba and the club ahead of Thursday's transfer deadline. We are making progress and it would be absurd to say that the market is closed.

Bangladesh violence: Armed men attack United States envoy's cars amid protests
A senior telecoms official who asked for anonymity said: "The BTRC has slowed down the internet at the order of the government". An Associated Press journalist at the scene said many people, including some journalists, were injured in the clashes.

President Trump to Reimpose Iran Nuclear Sanctions
Central bank governor Abdolnaser Hemmati said the plan reflected Iran's self-confidence in the face of the looming US sanctions. Iran says the sanctions are endangering lives by blocking the sale of new planes and spare parts for its ageing fleets.