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.
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.
But National Security Council officials were not yet raising alarms over the inaction just a week after Mr. North Korea makes no secret of its distaste for the US and its various military and spy services.
AT&T - the newly minted owner of Time Warner - today unveiled new wireless plans that include its new "WatchTV" skinny bundle . AT&T's new plans replace its previous plans, though customers can remain on the plan they now have.
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.
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.
When asked about the jacket , Melania Trump's communications director, Stephanie Grisham , said, "It's a jacket ". She added: "I hope we can talk about her important visit with children today rather than her wardrobe choice".
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.
Early access to certain deals is also offered to Prime members, as well as certain other discounts and benefits. In years past there have been some great deals on cord-cutting tools like the Fire TV and Roku Players.
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.
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.
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.
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.
And it was uncertain if the President's support would be enough to push any legislation through the divided Republican majority. The real reason for the delay probably has to do more with the level of support the bill has.
XXXTentacion's mom alludes that he has a kid on the way
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.
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.
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.
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.
House rejects hard-right immigration bill, baring GOP divide
But the volume of condemnation on breaking up families, from inside and outside the White House , finally overwhelmed Trump. Joe Wilson, of SC , announced he would support the legislation after meeting Mr Trump, who he said was persuasive.