How will the US-China trade war impact South Africa?
22 June, 2018, 11:38 | Author: Regina Silva
U.S. Commerce Secretary Wilbur Ross in a television interview Thursday defended the Trump administration's decision to impose tariffs, saying the United States' actions are a defense against years of "bad practice".
From the start of June, the European Union has been hit by tariffs of 25 per cent on steel and 10 per cent on aluminium imports imposed by US President Donald Trump, who has justified the move on the grounds of national security.
From today the European Union will begin charging import duties of 25pc on a range of United States goods, in response to U.S. tariffs imposed on EU steel and aluminium early this month.
"If we chose products like Harley Davidson, peanut butter and bourbon, it's because there are alternatives on the market".
Trump has also imposed tariffs on other trade partners as well, slapping another 25 per cent tariff on $50 billion worth of Chinese goods last week.
"We have a trade war - and it's an escalating trade war", SEB chief economist Robert Bergqvist told AFP in an interview.
The Global Times, a widely read tabloid published by the ruling Communist Party's official People's Daily, said in an editorial China needed to be realistic about how it could handle the United States and look at other strategies.
Smoking hits new low; about 14 percent of US adults light up
There was no new information for adult use of e-cigarettes and vaping products, but 2016 figures put that at 3 percent of adults. Survey results out last week showed smoking among high school students was down to nine percent, also a new low.
When a trade war happens, it just doesn't affect the two economies involved but all the economies open to world trade.
Beijing has sought to portray itself as the guardian of global free trade, a crown that has been abandoned by the United States since Trump took office in 2017 with his protectionist agenda.
Together with U.S. tariffs against Mexico and Canada, the trade battles have raised the spectre of a global trade war, spooking financial markets that fear major consequences to the global economy.
Chinese shares fell 1.2 percent on Thursday on investor worries about the trade dispute, with the Shanghai index languishing at a two-year low.
The Commission formally adopted a law putting in place the duties on 2.8 billion euros (RM12.9 billion) worth of USA goods, including steel and aluminium products, farm produce such as corn and peanuts, bourbon, jeans, and motorcycles.
The basic economic principles of demand and supply come into play.
"We did not want to be in this position". The tariffs, mostly 25 percent, are designed in part to "make noise" by targeting politically important states like Kentucky, Florida, and Wisconsin, EU trade commissioner Cecilia Malmstrom said.
Most of the shortfall has come from Venezuela, where an economic crisis has savaged the nation's petroleum production. Oil demand has been rising faster than expected, pushing prices higher despite a big increase in US oil output.
The most urgent question is what will happen to thousands of children already separated from their parent . The president's daughter offered thanks to Trump on Twitter after he signed the executive order.
Saeid Ezatolahi, his team-mates and nearly the entire Iranian bench celebrated wildly before the referee ruled the goal out. Spain will play their final Group B game against Morocco, and Iran will wrap up the stage against Portugal, on Monday.
XXXTentacion made headlines in May when the music-streaming app Spotify announced it was removing the rapper, along with singer R. It was not immediately clear if Williams had previous contact with XXXTentacion , 20, whose real name was Jahseh Ofrey.
Southgate, who has been pictured wearing his arm in a sling, told thefa.com: "It is better this is me than one of the players". Stones's developing power was underlined by the towering header that led to Harry Kane's first goal against Tunisia.
Like numerous other women who surround Trump, the first lady's very presence is key to pushing the administration's agenda. As images of Mrs Trump surfaced online, social media was swamped with users in disbelief over her choice of jacket.
Angry consumers paying $14.99 per month for the streaming Optus Sports service took to social media to decry the service. But on Monday evening Allen Lew was not announcing that the issue had been resolved.
The first lady met with officials and employees at the facility, where 55 children aged 12 to 17 are housed. Melania Trump's communications director, Stephanie Grisham , said in a statement, "It's a jacket ".
Right-arm paceman Abu Jayed, who has played three Twenty20 internationals, earned his maiden call-up to the Test squad. The same 14-man squad will do duty in a one-off T20I against Australia in Birmingham on June 27.
The White House said President Trump was originally expected to arrive in Duluth around 4:35 p.m. but was delayed. Home of the Iron Range, Minnesota is a place where Trump's tariffs on foreign steel could play especially well.
NBA Draft: 3 Reasons Hawks Should Pass on Porter Jr
So, just like during his freshman season at Missouri, there are plenty of rumors and lots of uncertainty surrounding Porter. There's also the potential of trading up or down in the draft or moving both picks plus assets for a player.
'Daria' to Get a Reboot From MTV Studios
It's digging into its vaults and bringing back shows such as Daria , which will return as Daria & Jodie, and The Real World . We could meet on the weekends to eat pizza and complain and watch new episodes of Daria on MTV .
S. Korea: Joint US drills suspended to aid talks with North
North Korea has always reacted to the Ulchi exercises with belligerence and often its own demonstrations of military capability. The two rivals also agreed to establish new ties and work to build a "lasting and stable peace regime" on the Korean peninsula.
Suspect Arrested For Murder of XXXTentacion
The Broward County Sherriff's Office had offered a $3,000 (£2,200) reward for any information about the killing. XXX had no pulse following the tragic shooting and was pronounced dead after being rushed to a local hospital.
Love Island's Sophie Gradon Dead at 32
On Twitter , as her beau cradled his dog, she gushed: "When the love of your life loves his dogs like this you know he's the one". Reality star Sophie Gradon , who appeared in the hit dating show Love Island back in 2016, has passed away at the age of 32.