Economy

Oil falls on Trump's latest China trade threats

Oil falls on Trump's latest China trade threats

In response, the American president has asked the Office of United States Trade Representative to examine imposing a further $100bn in tariffs on other Chinese products.

Xi said China would raise the foreign ownership limit in the automobile sector "as soon as possible" and push previously announced measures to open the financial sector.

Beijing did not want to fight a trade war, but was not afraid of one, vice-commerce minister Qian Keming told the Boao Forum for Asia in the southern province of Hainan.

The comments sent USA stock futures, the dollar and Asian shares higher.

-China trade dispute. While President Donald Trump continued to bash America's trade deals on Twitter, he said the US and China could settle their dispute.

We will have grid-girls
Instead the group have made a decision to use youngsters on the grid at races as they try to attract more families to the sport. Monaco organiser Michel Boeri said his only "problem" with Liberty was "the grid-girl issue", adding: "They're pretty".

Speaking on CNBC, Mnuchin said Trump is not aiming to provoke a conflict with China, but he is determined to defend United States interests and "there is the potential of a trade war".

President Xi Jinping vowed on Tuesday to take new steps to open China's economy "wider and wider" amid a broiling trade confrontation with the United States. "China will take down its trade barriers because it is the right thing to do".

Approximately one-third of USA soybeans are exported to China, which makes the market especially susceptible to trade disputes.

Hardest hit was the hog market, which descended to a 16-month low on Wednesday morning after the news broke.

China's state media has rallied against the United States, warning its trade protectionism actions would end in defeat and that the only option now was to hit the U.S. hard enough so it would "remember the pain". On Thursday, Trump told the United States trade representative to look for $100 billion more.

Rahul Gandhi slams Shah for calling opposition parties animals
Hitting out at Modi and the BJP, the Congress president said they have lost track of running the country. Amit Shah's confusion. "In fact, I challenge him to stand with three parties united", he added.

Though there's still a chance for both countries to forestall the measures through negotiations, sources say this doesn't appear to be a case of Trump's trademark bluffing. The Chinese government has much more control over its economy than the USA, which would allow it to protect the public from factory closings or job cuts by forcing banks to support the industries hit by American tariffs. The expert stresses that some sectors of the USA economy could benefit from the battle of tariffs, even if the majority lose.

Washington called for its initial $50 billion in extra duties after it said an investigation had determined Chinese government policies are created to transfer U.S. intellectual property to Chinese companies and allow them to seize leadership in key high-technology industries of the future.

Xi's comments prompted a largely positive reaction in financial markets, which have been rattled over the past week on fears the tit-for-tat U.S. But even as Trump cozied up to Xi and pressed China for help with derailing North Korea's nuclear ambitions, he has ratcheted up the economic pressure and threatened tariffs, a move opposed by many fellow Republicans. Where can investors hide in the event of a full-blown trade war?

"We're going to protect our farmers", he said.

"When we do a deal with China, which, probably, we will - if we don't, they'll have to pay pretty high taxes to do business with our country", Mr Trump said during a White House Cabinet meeting with reporters present.

Pep Guardiola: I could be to blame for Manchester City's dip
We have to see the condition of the players. "Always when you don't win you will have made mistakes but the first half was good". City under Guardiola was eliminated by Monaco in the last 16 a year ago , and now faces going out in the quarterfinals.

Chinese Vice Premier Liu He promised at the World Economic Forum in January that China would roll out fresh market openings this year, and that it would lower auto import tariffs in an "orderly way".


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