US following through on plan to tax $50B in Chinese goods

The trademarks could allow Ivanka Trump to market a lifetime's worth of products in China

Trump has threatened to impose tariffs on an additional $100 billion in Chinese goods as well if Beijing retaliates.

"The Honda Accord is not a threat to our national security", said Rep. Jeb Hensarling, R-Texas, hours after joining Trump for a bill signing at the White House.

The White House claimed that China's intellectual property theft alone costs U.S. innovators billions of dollars a year, and China accounts for 87 per cent of counterfeit goods seized coming into the United States. China hit back at that, with a foreign ministry spokeswoman saying on Wednesday that China would respond accordingly if the USA insisted on unilateral measures.

According to AP, the official said the instructions also stated that Chinese citizens seeking visas would need special clearance from multiple U.S. agencies if they work as researchers or managers for companies on a U.S. Commerce Department list of entities needing higher scrutiny. But two days of talks in Washington ended earlier this month with only vague Chinese promises to buy more US agriculture and energy products.

"Bilateral relations between China and the U.S. have become an increasing concern to United States businesses in China", AmCham said in its annual American Business in China white paper. The United States had wanted China's trade surplus with America to shrink by $200 billion in two years, a figure seen as fanciful by most economists and trade experts.

China and the USA announced measures to avert a trade war on 20 May under which Beijing agreed to "significantly increase" its purchases of American goods and services to reduce China's $375 billion trade surplus with the United States. It's the most specific the administration has been about when the duties will take effect.

The Trump administration on Tuesday moved forward with restrictions on Chinese investment in the USA and tariffs on $50 billion worth of Chinese goods despite talks that seemed to alleviate trade tensions between the two countries.

But that was before the US said it will unveil new potential investment restrictions in the hi-technology sector by the end of June and start imposing tariffs as early as mid-June. Trump is using trade negotiations to recoup the losses. The Chinese law firm that handles Ivanka Trump's intellectual property in China also did not immediately respond to requests for comment.

CIA report says North Korea won't denuclearize
A vice chairman of the ruling Workers' Party, Kim Yong Chol has been deeply involved in North Korean diplomacy this year. Kim Yong Chol, one of Kim Jong Un's top lieutenants, is apparently playing a major role in rescheduling the meeting.


The China tariffs are back on.

Some trade experts said the tariff announcement is likely meant to strengthen Ross's hand.

ZTE said the United States move threatened it with collapse. "I don't think it blows up a deal with the Chinese".

"This is really about Congress", said Derek Scissors, a China specialist at the conservative American Enterprise Institute.

"De-escalation over time through negotiation remains our base case because we see areas where China and the USA can find some middle ground to make some mutually beneficial progress, for example to meet China's own demand for upgrading consumption". Lighthizer and Peter Navarro, a senior White House official, have pushed for new limits as part of a comprehensive reordering of economic relations with Beijing.

Tariffs of 25 percent will be applied to Chinese imports containing advanced technologies, including those related to Beijing's made-in-China 2025 development program, the White House said. The new investment restrictions and export controls - to be imposed on "industrially significant technology" - will be announced by June 30.

The surprise White House statement drew qualified support from the leading Senate Democrat.

Trump has long said that China has taken advantage of the United States with unfair trade practices, including industrial subsidies and prohibitive trade barriers. Charles Schumer, D-N.Y., said in a statement.

Related News:



Most liked

Cavaliers drop Game 1 in OT to Warriors
Of course, Game 1 was a classic, perhaps throwing salt on the theory people are bored with these two teams playing each other. And then tonight in the finals on the biggest stage, when our team played well, played our ass off, man, it ain't right.

Europe's trade confrontation with the US escalates
Malmstrom said that specific retaliatory measures would be submitted to the World Trade Organization by June 20. Trump's remarks follow a refusal by Trudeau to accept terms laid out by the USA administration.

Assad raises prospect of clashes with USA forces in Syria
Joint airstrikes on chemical weapons facilities were carried out by the US, UK and France following the alleged poison gas attack. Iran-backed Shi'ite militias, often spearheaded by Lebanon's Hezbollah, have played a critical role fighting in support of Assad.

USA imposes steel, aluminum tariffs on EU, Canada, Mexico
Canada has today announced retaliatory surcharges responding to US tariffs imposed today on Canadian steel and aluminum . The bloc's response will be "united and firm", French Finance Minister Bruno Le Maire warned.

Crude drops after Saudi-Russia output revival plan rattles traders
The fall in prices of oil for drivers has been welcome news as it has been for companies that purchase large amounts of energy. Both the United States and European oil drops in the market as the global oil supply report increasing number of supply.

Italian Markets Tumble as Political Uncertainty Persists
The 10-year Italian government bond yield jumped to 3.19% bond prices fell, compared to just under 2% around two weeks ago. USA crude futures retreated 0.2 percent to $66.58 per barrel CLc1, extending losses into a sixth consecutive sessions.

Roseanne Barr breaks Twitter silence following series cancellation
Barr, 65, has repeatedly used Twitter as a platform for her political views, including her distaste for the Clinton family. Jarrett's name came up in response to Twitter commentary that raised her name in relation to an Obama conspiracy theory.

Whoopi Goldberg rebukes Roseanne for sharing 'horrific' photoshopped image of Trump
Barr later tweeted that she has had odd experiences while taking the drug late at night. Barr has yet to respond to the show's cancellation.

Go reboot your router - NOW!
The FBI also recommends disabling remote management settings, enabling encryption, and upgrading your devices firmware. The malware is able to collect information , exploit devices, block network traffic and render routers inoperable.

Warriors owner 'tired' of facing LeBron, Cavaliers in NBA Finals
At one point, the Rockets missed an inconceivable 27 consecutive three-point shots, including going 0-for-14 in the third quarter. Tucker's 3 was the first of seven straight points for Houston which cut the lead to 89-83.

PUBG Corp is suing Fortnite creator Epic Games over alleged copyright infringement
However, analysts suggest the popularity of PUBG has waned since January, while Fortnite continues to attract more players. A spokesperson for PUBG Corp said the company filed the suit in order to "protect its copyright".

Brazil Star Fred Close To Sealing £50m Move To Manchester United
United are close to agreeing a deal for Shakhtar Donetsk midfielder Fred as well as Tottenham Hotspur defender Toby Alderweireld . Jose Mourinho is a big fan of the Brazil worldwide and wants him on board before the World Cup gets underway next month.

Basketball Rockets inch closer to dethroning Warriors
He sat out of Game 4 after sustaining his injury when he collided knees with Houston guard James Harden in Game 3 on Sunday. It did not help the Warriors missed key veteran Andre Iguodala for the second consecutive game with a left knee injury.

'Solo: A Star Wars Story' struggles to take off in opening weekend
A key will be for Lucasfilm to rebuild that cool factor by the time Star Wars: Episode IX is released on December 20, 2019. In the middle of last week, " Solo " was projected to earn between $130 million and $150 million on 4,381 screens.

Beaten Woman Rescued After Slipping Note To Veterinary Staff For Help
After spending Thursday in bed to nurse a head injury, Reichle talked Floyd into letting her bring the dog to the vet on Friday. The woman convinced her boyfriend the dog needed to go to the vet and he agreed, however held her at gunpoint the entire time.