Global

Trump Administration Challenges Retaliatory Tariffs in WTO

Trump Administration Challenges Retaliatory Tariffs in WTO

China, the E.U., Mexico, Canada and Turkey then imposed tariffs of their own on products originating from the US, a move Trump's administration says is unfair.

Trump responded last week by threatening 10 percent tariffs on a $200 billion list of Chinese goods.

Economists will be closely watching GDP growth in the third and fourth quarters for indications that the tit-for-tat tariffs imposed by the two sides on each other's exports - totaling more than US$50 billion at this point - are indeed harming the economy. The hurdles include the stalled renegotiation of the North American Free Trade Agreement and President Donald Trump's threats that he will impose new tariffs - this time on the automotive sector.

Taken together, the data show an economy continuing to slow under the influence of a multi-year crackdown on excessive financial risk, even as trade war headwinds gather. China criticised the move but has yet to say whether it would retaliate for the second round of tariffs. But we also know that we can do so much more.

Worries about the impact on demand caused by a possible trade war between the USA and China took their toll last week, as did news that Libya was exporting again after recent oil field closures.

Washington imposed 25 percent tariffs on $34 billion of goods in response to complaints that Beijing is hurting American companies by stealing or pressuring enterprises to hand over technology.

The initial USA tariffs covered mostly machinery and industrial parts, while China's retaliation meant tariffs primarily on American farm products and other foods.

Speculation that US President Donald Trump could seek increased production from oil cartel OPEC and tap into the Strategic Petroleum Reserves to push down gasoline prices, sent oil plummeting.

More news: Woman Missing a Week Found Alive Down a Cliff

That process usually takes years, they said. In September when this list could be finalised, the U.S. would have begun its election campaign season for the off-year elections. -Chinese dispute was a bilateral matter for Beijing and Washington to solve. The US exports only $130 billion or so of goods to China, while its imports exceed $500 billion. It could deploy measures against US multinational companies operating in China such as consumer boycotts. There are substantial constraints on Chinese power and influence.

But it has had limited success, with European leaders also calling for China to adopt a more open, market-oriented approach. He has said he is willing to raise duties on more than $500 billion of imports, or nearly everything Americans buy from China.

But what has caused alarm has been China's drive to achieve technological dominance?

On this front, Ottawa feels it has more work to do.

Imposing antidumping and countervailing duties, both of which Canadians are very familiar with because of softwood lumber, requires that there be a determination of material injury to a US firm given either selling below fair market value or benefiting from unfair subsidy overseas, Busch said.

They may need to deploy more of that firepower.

He added that China would continue to provide a good business environment for foreign firms including forbidding any forced transfer of intellectual property, something which European and United States companies have accused the Chinese of doing. But seeking to turn the clock back by blowing up the global trading system, restricting investments by Chinese companies or blocking Chinese nationals from the U.S. educational system could well be the equivalent of cutting your nose to spite the face.


  • Thailand gave diplomatic immunity to Australian medical team in cave rescue

    Thailand gave diplomatic immunity to Australian medical team in cave rescue

    Dr Harris and Mr Challen touched down with twenty Australians involved in the unsafe Tham Luang cave rescue. Dr Challen said, "It wasn't unsafe for us but I can't emphasise enough how risky it was for the kids".
    Superhuman Serena Williams reaches Wimbledon final

    Superhuman Serena Williams reaches Wimbledon final

    She hit just 16 winners, four less than Goerges, and sent down five aces which is not much for her. "She's coming back. Yet, for all her astonishing achievements, winning Wimbledon with a baby in tow would be arguably her greatest moment.
    Twelve Russian intelligence officers charged over USA  election hacking

    Twelve Russian intelligence officers charged over USA election hacking

    But Friday's indictment was the first by Mueller that directly charges Russia's government with meddling. Putin has denied any election meddling, and Trump has denied any collusion with Russian Federation .
  • Russian espionage suspect’s family learns of her arrest in USA  from media

    Russian espionage suspect’s family learns of her arrest in USA from media

    The anti-Russian machine is resisting with all possible means", he said. "Obama gets along with nobody. The whole world hates us. and yet they make money with us", Trump said.

    U.S. President Trump has 'low expectations' for Putin meeting

    In an interview with CBS, Trump branded the European Union as a foe of the United States for what they do to Americans in trade. The Pentagon in February called for a revamp of the USA nuclear arsenal and development of new low-yield atomic weapons.
    Khamenei Adviser: Iran Coordinates Military Presence in Syria With Russia

    Khamenei Adviser: Iran Coordinates Military Presence in Syria With Russia

    Israel has been on high alert as Syrian President Bashar al-Assad's forces advance against rebels near the Golan and Jordan. Trump and Putin are expected to discuss Iran's regional role and the Syrian conflict at a summit in Helsinki next Monday.
  • What Bruce Willis thinks about 'Die Hard' being considered a Christmas movie

    Cybill Shepard, who co-starred with Bruce in his breakout role - " Moonlighting " - also took her shots. Some of the roasters included Edward Norton , Demi Moore and Dennis Rodman .

    Trump Knocks CNN for Not Covering His 'Takedown' of Acosta 'Nice Guy'

    A few minutes later, the CNN reporter Jim Acosta asked the president for a question "since you attacked CNN ". He also said that his administration has been "far tougher on Russian Federation than anybody".
    Convicted Sharifs return to face jail term

    Convicted Sharifs return to face jail term

    His brother Shehbaz became PML-N's president, but Sharif remains the power behind the throne. Nawaz Sharif was also fined eight million and Maryam Nawaz two million pounds.
  • Kerber stuns Serenas history bid in Wimbledon final

    Kerber stuns Serenas history bid in Wimbledon final

    Kerber though needs to serve better to make sure she doesn't gift easy points to her American opponent, who is staring at history. No, Williams won't yet be going home with her 24th Grand Slam title to tie the record Margaret Court has held since 1973.
    Donald Trump's kind-of, sort-of apology to Theresa May

    Donald Trump's kind-of, sort-of apology to Theresa May

    The president also renewed his war of words with Sadiq Khan , saying the London mayor has "done a very bad job on terrorism". Downing Street had hinted in advance they were expecting a more emollient tone from the president.
    Does my MacBook Pro 2016/2017 case fit the MacBook Pro 2018?

    Does my MacBook Pro 2016/2017 case fit the MacBook Pro 2018?

    The refreshed 2018 edition of the 15-inch MacBook Pro packs the latest hexa-core 8th-generation Intel Core processor. The new Retina display with True Tone technology offer support for the P3 wide colour gamut.