'Shocked' by Latest U.S. Tariffs, Beijing Seeks Retaliatory Action

Beijing described the latest US move as “totally unacceptable” bullying and urged other countries to join China to protect free trade and multilateralism. — Reuters pic

All told, Trump has threatened eventually to slap tariffs on up to $550 billion in Chinese imports - more than China actually exported to the United States a year ago - if Beijing won't relent to US pressure and continues to retaliate.

President Donald Trump has threatened to tax as much as $US550 billion in Chinese products - an amount that exceeds America's total imports from China past year.

The additional USA tariffs, which will go through a two-month approval process including a public hearing, come after China retaliated in a tit-for-tat trade skirmish last week.

In a statement, U.S. Trade Representative Robert Lighthizer said that the new 10-percent tariffs were in response to what he called China's "retaliation and failure to change its practices".

The foreign ministry described Washington's threats as "typical bullying" and said China needed to counter-attack to protect its interests.

"I am curious to see what China does to retaliate in the coming days".

Senate Finance Committee Chairman Orrin Hatch, R-Utah, responded to Lighthizer's announcement with dismay.

"China provides massive, market-distorting subsidies and other forms of state support to its domestic industries", Shea said.

National Retail Federation senior Vice President for Government Relations David French said the move "doubles down on a reckless strategy that will boomerang back to harm USA families and workers".

That "will hit the Chinese export sector hard", said Rajiv Biswas of IHS Markit in a report.

Israeli Honeymooner Killed, New Wife Severely Injured In Zip-Line Tragedy
Zip-lining as been suspended at a Royal Caribbean Cruises excursion in Honduras after a couple was involved in a deadly crash. According to Honduras newspaper La Prensa , both were seriously injured and needed to be taken to hospital.

Ghanaians react to Russia's shootout defeat to Croatia
Nearly 11 years ago, Croatia beat England in a Euro 2008 qualifier, one that saw England miss out on the continental tournament. He hopes England will be more suited to their style of play, but added that recovering from two extended games will be hard .

The Essentials of Being an Eco-Friendly Hotel
Conserve Energy Lights, water heaters, and air conditioning units, among other things, consume the most electricity in hotels. Through these actions, the hotel can build a better name by showing its clients how it values environmental sustainability.

Trump has been following through on pledges he made during his 2016 presidential campaign to get tough on China, which he accuses of unfair trade practices including theft of intellectual property and forced technology transfer that have led to a $375 billion USA trade deficit with China.

A Commerce Ministry statement said, "It is totally unacceptable for American side to publish a tariff list in a way that is accelerating and escalating".

China's assistant commerce minister Li Chenggang said earlier on Wednesday that the latest proposed tariffs harms the World Trade Organisation (WTO) system and hurts globalisation.

An all-out trade war with China could affect a third of all USA imports, data from Deutsche Bank Torsten Slok show.

Beijing has retaliated with duties on the same value of United States imports, ranging from soybeans to cars, and has vowed to respond proportionally to any new USA tariffs.

Global markets in turmoil as Trump intensifies trade war once again. "But China's reaction to the United States tariffs could pose a far greater threat to the index in time".

"Our global trade is extremely important and we have to start off on the right track and I'm not sure we are right now", he said.

High-level talks between the two countries starting in May had failed to deliver a breakthrough to head off a trade war. "At the same time, China will report the US' unilateral behaviour to the World Trade Organization", reports China News.

China's government has criticized the latest USA threat of a tariff hike as "totally unacceptable" and vowed to retaliate in their escalating trade war.

Related:

  • Former UCLA basketball star found dead after recording heartbreaking video

    Phoenix police said Knight was located in the roadway in the area of Central Avenue and McKinley Street at 2:45 a.m. The late Knight was apart of the UCLA team from 1998-2002, according to the Los Angeles Daily News .
    Markets hit as Trump threatens new tariffs on China

    Markets hit as Trump threatens new tariffs on China

    The US administration late on Tuesday released a huge list of new tariffs on $US200 billion worth of goods from China . Global markets are rattled this morning after America escalated the deepening trade war between the two countries.
    Live Stream and TV Info for Croatia Vs. England

    Live Stream and TV Info for Croatia Vs. England

    But that's not all Timberlake did to show his support for England as it takes on Croatia in the World Cup semifinal Wednesday. The players have already bettered expectations, with the whole of England buying into the team and their recent performances.
  • Wimbledon 2018: Novak Djokovic beats Kei Nishikori to make semis

    Wimbledon 2018: Novak Djokovic beats Kei Nishikori to make semis

    The 12-time major victor prevailed despite picking up two code violations and accusing umpire Carlos Ramos of "double standards". Djokovic, three times a champion at SW19, maintained the dominance he has shown throughout the tournament on his first serve.
    England's Jordan Pickford earns Jorge Campos praise

    England's Jordan Pickford earns Jorge Campos praise

    The biggest thing for me is just continuing to win - and hopefully a few more wins over the next week'. It's down to what we do behind the scenes, what we work on in training, all the hard work to get here.

    'There are worries ahead': Experts react to Bank of Canada's rate hike

    CPI inflation is expected to edge up further to about 2.5 per cent before settling back to 2 per cent by the second half of 2019. It was the bank's fourth increase over the last 12 months and the first time the rate has been this high since December 2008.
  • Russian Federation  and Croatia Take World Cup Spotlight

    Russian Federation and Croatia Take World Cup Spotlight

    The worrying thought about what we will do with ourselves once it is over can wait, because two well-matched semi-finals await. I could be with my parents, eating and drinking and watching the game on TV.
    Wimbledon 2018 -- Men's quarterfinal matches

    Wimbledon 2018 -- Men's quarterfinal matches

    World number one Nadal faces a tricky test against power-hitter del Potro in his first Wimbledon quarter-final since 2011. The other quarter-final features American John Isner and Canadian former runner-up Milos Raonic .
    UK Prime Minister Theresa May fights to stop Cabinet exodus over Brexit

    UK Prime Minister Theresa May fights to stop Cabinet exodus over Brexit

    Mr Wilson praised the American President for his firmness with European companies and EU leaders on matters of trade and security. May named one of her most loyal ministers, Jeremy Hunt, to replace Johnson in the job of Britain's top diplomat.
  • Doctors have warned an emerging STI could become an antibiotic-resistant superbug

    Peter Greenhouse, a sexual consultant in Bristol and BASHH member, advised that people be more cautious by using condoms. Macrolide resistance in the United Kingdom is estimated at about 40%, say the guidelines.
    Houston model bitten by shark while swimming in the Bahamas

    Houston model bitten by shark while swimming in the Bahamas

    She began floating in the water and everything seemed fine, but then one of the animals bit her and dragged her underwater. An Instagram model has been bitten by a shark during an impromptu photo shoot.
    USA  and China Enter into Trade War

    USA and China Enter into Trade War

    Pacific Northwest, and are likely to get sent elsewhere as exporters scramble to avoid paying the tariff, a U.S. trader said. Asian markets appear to have taken in stride the USA move to raise tariffs on billions of dollars of Chinese products.

Comments

Latest news

Fans thrilled as Drake replaces DJ Khaled as Wireless Festival headliner
Drake made a surprise appearance at the Wireless Festival in London on Sunday after DJ Khaled cancelled due to " travel issues ". Fans then speculated as to who would take his place, with the Wireless Festival taking to Twitter promising something special.

Nigerian descent Dele Alli on bringing the nation together
The team's next job is to rest up and watch England and Croatia to see who it will be facing off against. You want to test yourself as much as you can playing against the best teams and the best players.

William, Kate’s third child Prince Louis christened
Kate's sister, Pippa , also wore floral stud earrings for the occasion, opting for a modern gold style unlike Kate's pearls. Meade is also a cousin of Prince William's stepmother, Camilla , Duchess of Cornwall, though several times removed.

Trump tweets about soybeans, trade during North Atlantic Treaty Organisation summit
NATO Secretary General Jens Stoltenberg noted Wednesday that member countries have already been increasing their defense spending. NO!" He's also badgering allies to meet a 2 percent target that only five of the 29 members now meet.

Paul Manafort says he's being treated 'like a VIP' in jail
Manafort's Virginia trial moved him to an Alexandria jail so he can have easier access to his legal team. Furthermore, prosecutors said Mr.

Ontario woman accidentally steals car from Walmart parking lot
Upon exiting the store, she climbed in a black Nissan - the vehicle was open and the key's were in the ignition - and drove home. They even tried to explain that the model she was trying to return wasn't on file but she apparently did not want to hear it.

Wimbledon 2018: Djokovic beats Kei Nishikori; enters semifinals
The Swiss lost the set in a flurry of aces, with Anderson's relentless, powerful serve sending the match into a decider. Anderson never had made it beyond the fourth round at Wimbledon until this week, carried by his booming serve.

Twitter Reacts to Kylie Jenner Becoming the Youngest Self-Made Billionaire
At 20, Kylie Jenner is making history as the youngest person on Forbes magazine's list of America's Richest Self-Made Women. For comparison, Forbes estimates that Jenner's older sister Kim Kardashian West is worth roughly $ 350 million .

Woman shot and killed by stray bullet in Mexico
The State Department is advising tourists to reconsider travel to Mexico State, where Mexico City is (shown in orange, center). As a mother, we always say things, but she inspired me to be better. "I'd give my life if she could just come back".

Roger Federer loses epic stunner at Wimbledon
Anderson then served it out, ending things with a 128 miles per hour service victor , and raised both arms overhead. The tennis player and cricketer know each other personally and share great mutual respect.

Cardi B announces birth of daughter in Instagram post
More details on the lawsuit between Cardi B and her ex-manager seem to be coming through every week. Cardi B , 25, and Offset , 26, have been together since a chance meeting in NY in February 2017.

England have potential for much more, says proud Gareth Southgate
The Three Lions once again scored from a dead ball situation, their eighth set-piece goal of this World Cup . Rafa Benitez says England have a "great chance" of winning the World Cup for the first time since 1966.

Michael Ondaatje's English Patient wins Booker Prize's 50th anniversary award
Two of the five books nominated were published by Bloomsbury, which will be hoping for related sales boost. The other shortlisted books for the Golden Man Booker were V.S.

How Home-based Business Can Benefit from Coworking Spaces
More so, it can encourage productivity by being able to lessen boredom since you will be surrounded by people you can talk to. It Fits the Bill According to statistics, self-employment is on the rise, increasing by as much as 40% in the U.S . by 2020.

Money Saving Tips for Business Owners
JJBender.com is a trustworthy and reputable source of used office equipment that offers a wide variety of products. And in today’s economy, every small business owner is looking for ways to save money and reduce expenses.

Other news