Tuesday, 16 October, 2018

Kudlow: US Ready For China Trade Talks If Beijing Opens Up Economy

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York Report: Apple Watch, AirPods may be spared from Trump’s China tariffs
Ellis Copeland | 18 September, 2018, 18:57

US President Donald Trump threatened in July to impose tariffs on thousands of Chinese products as the US seeks to overcome a US$376 billion trade deficit between the countries, and to discourage what he says are unfair trade tactics used by the Chinese government.

The Chinese matched those tariffs, with duties on American imports.

"It appears that the administration responded to some industry concerns, but for many American businesses and consumers this still represents a rapid acceleration of costs and much higher uncertainty", said Rufus Yerxa, president of the National Foreign Trade Council.

U.S. President Donald Trump delivering a speech in the Great Hall of the People in Beijing, China, in November 2017.

It brings all Chinese imports subject to added tariffs to US$250 billion, roughly half of China's shipments to the USA past year.

In recent months, Washington and Beijing imposed 25 percent tariffs on $34 billion worth of goods headed across each other's border.

Smart watches and devices that use Bluetooth wireless communications, the technology behind Apple's AirPods and other products that work with smartphones, will be excluded from the new tariff list.

A driver looks out from his trishaw decorated with an American and Chinese flags in Beijing on Sunday. Beijing's penalties hit soybeans and other farm goods from states that voted for Trump in 2016.

Elon Musk reveals the first passenger SpaceX will send around the moon
Maezawa announced on Monday that he plans to select six to eight artists to accompany him on his journey around the moon. On Monday, Musk detailed the latest version of the concept, which he said will be able to carry 100 tons of payload.


More diversity jokes than wins for people of color at the Emmys
HBO's " Game of Thrones " was named best drama series , beating last year's champion " The Handmaid's Tale ". More than 40 years on from his first nomination, this was his first win.


Jacksonville Jaguars RB Leonard Fournette says hamstring improving, optimistic for Sunday
Bouye and Jalen Ramsey . "I remember a couple years ago, we threw in April, like 40 passes, and we hit them all", Brady recalled. Gipson was in coverage deep down the right sideline and Gronkowski got his hands on the ball, but couldn't haul it in.


Trade officials from the European Union, U.S. and Japan meet again next week for talks aimed at easing trade tensions.

But they object to Trump's tactics and warn the dispute could chill global economic growth and undermine worldwide trade regulation. Fitbit shares closed down 1 percent on Monday. "More generally, the direction of global trade policy in the United States continued to be a source of uncertainty for the outlook for the world economy".

Officials from the USA and China have met several times to address trade issues, most recently in August, but were unable to make much progress. US Treasury Secretary Steven Mnuchin invited top Chinese officials to a new round of talks last week, but thus far nothing has been scheduled.

The lower Chinese figure highlights Beijing's inability to match the USA dollar-for-dollar in a tariffs war.

Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, said three quarters of its members will be hit by the tariffs, and they will not bring jobs back to the United States. Donald Trump has previously threatened to leave the WTO if it doesn't "shape up" and treat the USA better - and his administration seems to be in little mood to de-escalate the situation.

By expanding the list to $200 billion of Chinese products, Trump may spread the pain to ordinary households.

The U.S. government did withdraw some items from its preliminary list of imports to be taxed, including child-safety products such as bicycle helmets.

The result could be higher prices for American consumers, because most companies are expected to pass on the cost to their customers. So while the Trump administration might not specifically tax iPhone imports in the future, Apple could still pay the price for Trump's trade war through its dealings with China.

Recommended

  • Amazon reportedly plans to roll out more Alexa-enabled hardware

    Amazon reportedly plans to roll out more Alexa-enabled hardware

    It is worth adding that some of the OEMs have already launched devices and even cars that support Amazon Alexa voice assistant . If true, this could also mark Amazon's debut in the home appliance market, something Apple and Google are yet to make inroads.
    China says to 'take countermeasures' after new United States  tariffs

    China says to 'take countermeasures' after new United States tariffs

    The overall list of Chinese goods subject to tariffs now runs to 194 pages, and now amounts to nearly half of all Chinese imports. Turkey has in turn hiked tariffs on imports of several U.S. products such as rice, alcohol, leaf tobacco , cosmetics and cars.
    Syrian TV says Israeli strikes hit state company, 10 injured

    Syrian TV says Israeli strikes hit state company, 10 injured

    But Israeli jets have struck Syria dozens of times in recent years, mostly targeting Iranian and Hezbollah positions. Syrian officials have said they do not know who conducted the strike but that missiles "came from the sea".
  • Jurgen Klopp Sends Warning Message to Liverpool Fans

    Jurgen Klopp Sends Warning Message to Liverpool Fans

    After facing PSG tonight Liverpool return to action against Southampton on Saturday in the Premier League . Really, we should have won by more goals and it will be interesting to see [how they cope vs PSG].
    Gunmen dressed as mariachis kill 3, wound 7 in Mexico City

    Gunmen dressed as mariachis kill 3, wound 7 in Mexico City

    Two of the five people killed were women, and four of the victims were aged between 22 and 46 years old, according to officials. Surveillance video showed the three men, wearing traditional embroidered jackets and trousers , fleeing on motorcycles.
    Chrissy Teigen Says Everyone's Been Pronouncing Her Last Name Wrong!

    Chrissy Teigen Says Everyone's Been Pronouncing Her Last Name Wrong!

    She even posted a helpful video of herself pronouncing her last name, with confirmation from her mother echoing across the room. She tweeted that people are saying her name wrong. "Last name is "Tie-gen" not "Tee-gen". 'My grandpa said Gran-DEE.
  • Hurricane Florence Victims (2018)

    Hurricane Florence Victims (2018)

    The most rainfall recorded in SC was in the town of Loris, where 23.81 inches (0.6 meters) fell. "We had to evacuate". Surveying the murky brown water that had risen by Monday morning, he said Florence's deluge appeared worse.
    Everton vs. West Ham United - Football Match Report

    Everton vs. West Ham United - Football Match Report

    When Marko had a problem with his knee, I wanted to put Lucas on. "So, I played him as I needed to make the change", Pellegrini added.
    Emmy victor  steals the show proposing to longtime girlfriend on stage

    Emmy victor steals the show proposing to longtime girlfriend on stage

    He also said that his mother loved his girlfriend, and that prompted the epic wedding proposal. The 57-year-old won a gong for Outstanding Directing for a Variety special for the Oscars .
  • Pakistan PM leaves for Saudi Arabia amid bailout speculation

    Pakistan PM leaves for Saudi Arabia amid bailout speculation

    It will be the first visit of Mr Khan to a foreign country after taking charge of the office of prime minister. Khan's government came to power on the back of populist assurances to root out corruption and reduce poverty.
    Typhoon Mangkhut: Families seeking refuge buried by landslide

    Typhoon Mangkhut: Families seeking refuge buried by landslide

    At least 64 died in landslides or by drowning, the Associated Press reported , citing Philippine National Police officials. Government agencies intensified rescue operations as hundreds of people were evacuated from the affected areas.
    Moon says he and Kim will discuss ways to move denuclearization forward

    Moon says he and Kim will discuss ways to move denuclearization forward

    Moon and Kim were also expected to hold a joint news conference on Wednesday if their two sets of summit meetings go smoothly. The welcome ceremony for Jae-in at Pyongyang Sunan International Airport, in Pyongyang, North Korea, September 18, 2018.

Tainted cricketer S Sreesanth threatens to leave Bigg Boss show Tainted cricketer S Sreesanth threatens to leave Bigg Boss show When Saba questioned him, he says, 'Hum aaye thena, toh humko pata tha ki avatar leke hum padharenge aur sabka aadhar karenge'. Jasleen said that the first episode will come as a surprise to her family as they are aware of her relationship with Anup.

The Constitutional Court ruling on cannabis in five interesting tokes The Constitutional Court ruling on cannabis in five interesting tokes Parliament will have to determine what quantity of cannabis may be used for private consumption or cultivation. Deputy Chief Justice Raymond Zondo said the law banning marijuana use by adults was unconstitutional.

Marvel Isn't Messing Around With the Captain Marvel Trailer Marvel Isn't Messing Around With the Captain Marvel Trailer Larson's Carol Danvers is a human pilot whose DNA has been fused with that of the Kree alien race, thereby granting her superpowers.

Florence: North Carolina's rivers still rising after record rain Florence: North Carolina's rivers still rising after record rain He said he anticipated "quite a bit" of temporary housing would be made available for citizens who have lost their homes. The body of an elderly man was found by his submerged auto Monday morning, the Union County Sheriff's Office said.

Julie Chen Leaving The Talk; Will She Also Leave Big Brother? A date for her exit hasn't been set yet, the insider said, but sources speculate she'll step down in the next couple of weeks. It is said to have been the first time Chen has used her married name on the show shes been hosting for almost two decades.

Trump orders DNI, DOJ to declassify documents related to Russian Federation investigation Trump orders DNI, DOJ to declassify documents related to Russian Federation  investigation Adam Schiff of California, the top Democrat on the House Permanent Select Committee on Intelligence, said in a statement Monday. Follow Business Insider Australia on Facebook , Twitter , LinkedIn , and Instagram .

Brett Kavanaugh Drama: Follow Facts, Not Tribalism Brett Kavanaugh Drama: Follow Facts, Not Tribalism The accusation has raised the prospect of congressional Republicans defending Mr Trump's nominee ahead of mid-term elections. A Judiciary committee statement Sunday accused Democrats of hiding Ford's allegations until the eve of the committee vote.

Trump claims China tariffs successful Trump claims China tariffs successful At the same time, the administration said it is still open to negotiations with China. He didn't answer directly when asked whether Beijing would back out if U.S.

The Emmys 2018 biggest winners The Emmys 2018 biggest winners HBO's " Game of Thrones " was named best drama series , beating last year's champion " The Handmaid's Tale ". Bill Hader won the lead comedy actor trophy in his first time nominated in the category.

Low dose aspirin risks overwhelm benefits in healthy elderly The participants were randomly assigned to receive either 100 milligrams per day of aspirin or a placebo pill. There was also an increase in cancer deaths in the aspirin-treated group, which surprised the researchers.

Trump going ahead with plans for new 10 percent China tariffs Trump going ahead with plans for new 10 percent China tariffs Beijing has issued a list of another $US60 billion of American products for retaliation if Trump's next tariff hike goes ahead. The tariff level will probably be about 10 percent, the Wall Street Journal reported, quoting people familiar with the matter.

India to merge three state-owned banks to tackle bad loans India to merge three state-owned banks to tackle bad loans Vijaya Bank and Dena Bank, which are expected to gain from the merger, rose 1.25 per cent and 19.75 per cent respectively. Jaitley said that no employee on the combined entity will face any service conditions which are adverse in nature.

Russian plane goes off radars amid Israeli airstrikes U.S. officials told CNN and Reuters that Washington believed Syrian air defenses had accidentally shot down the Russian aircraft. "After the radar incident, 35 kilometers from the Syrian coast, a Russian Il-20 was lost, carrying 14 servicemen on board".

US$200 billion in Chinese goods officially 'Tariffed!' US$200 billion in Chinese goods officially 'Tariffed!' It was unclear if the administration will exempt any of the products that were on the list, which was announced in July. Trump continues to ratchet up pressure on Beijing to change its trade practices even as he floats the idea of talks.

Samsung Galaxy Note 9 Catches Fire in Woman's Purse, Lawsuit Filed Samsung Galaxy Note 9 Catches Fire in Woman's Purse, Lawsuit Filed The smoke and sounds only stopped after a man picked up the phone with a piece of cloth and put it in a bucket full of water. Chung is now filing a lawsuit against Samsung that along with damages is seeking to ban any further sales of the Note 9.