China exports soar, but trade war may be nigh

10 March, 2018, 01:36 | Author: Gregory Stephens

Trump, in one tweet, demanded that China reduce its trade deficit by $1 billion, and in another, lamented the loss of and factories due to the policies of his predecessors. "So they charge us 50, we would charge them 50", Mr Trump said. "Some people in the United States believe that China therefore wants to replace the role of the the global arena".

Apple (AAPL) may have the most to lose among tech giants in a trade war with China, Bloomberg Gadfly columnist Tim Culpan wrote.

"We should prevent a trade war situation from excessive protectionism, in which the entire world harm each other", Trade Minister Paik Un-gyu told a meeting with steelmakers.

"If the USA can not adjust its own industrial structure to reduce its trade deficit and orders the world to follow its words, China and the rest of the world will have no choice but to meet the challenge head-on".

The Commerce Department said on Wednesday the trade deficit jumped 5.0 percent to $56.6 billion. This is the highest level since October 2008, following the revised December adjusted deficit of 53.9 billion United States dollars.

China's Foreign Minister has mocked the Australian and United States preference of describing the region as the "Indo-Pacific" instead of "Asia-Pacific" as an "attention-grabbing idea" that will "dissipate like ocean foam". The deficit with Canada is the largest in three years.

Wang, however, said the two countries must shed mental inhibitions, manage differences and meet each other half way. Trump has threatened to impose hefty tariffs on European vehicle imports.

Trump has pledged to implement tariffs on steel and aluminum imports of 25 per cent and 10 per cent respectively - a move that rattled markets and prompted a backlash from the European Union sparking fears of a trade war.

But the tariffs may be the first foray in the brewing American trade war with Beijing.

Tuesday's resignation of Trump's top economic adviser Gary Cohn - who had held talks with Liu during his visit - also throws cold water on the negotiations.

Chinese officials said Beijing was not actively pursuing a large trade surplus but is ready to respond to United States import controls. The dollar rose versus a basket of currencies. But analysts warn that they can weigh on economic growth. The government in January slashed corporate and individual income taxes.

CHINA today denounced United States tariffs on aluminium and steel imports, saying that they would profoundly harm the global trade environment.

The surge in the January trade deficit was flagged by an advanced goods trade deficit report last week. The so-called actual trade deficit is above the fourth-quarter average is 66.8 billion United States dollars.

Under the most severe scenario being weighed, the US could impose tariffs on a wide range of Chinese imports, from shoes and clothing to consumer electronics, according to two people familiar with the matter who spoke on condition of anonymity because the discussions aren't public.

Critics also recently pointed out Belt and Road loans China offered to the Philippines came with interest rates far higher than loans offered by Japan. Growth estimates for the first quarter are around a 2.0 percent pace. Crude oil exports also declined.

Even though seasonal effects and the yuan's weakness last month likely distorted the data, buyers for China's exports, from industrial metals to consumer electronics and clothing, are not in short supply. Imports were unchanged at $257.5 billion in January amid a $1.3 billion drop in cellphone imports as well as a $0.9 billion decrease in civilian aircraft.


  • What time is Daylight Savings 2018?

    What time is Daylight Savings 2018?

    We're with him on no more twice-yearly time changes but less persuaded that New Mexico should leave the Mountain time zone. And there are arguments on the idea that daylight-saving time reduces electricity usage and promotes energy efficiency.
    Ibrahimovic to leave Man United at end of season

    Ibrahimovic to leave Man United at end of season

    He was United's top scorer last season with 28 goals in 46 appearances, helping them win the League Cup and Europa League. He has returned back to training and is expected to feature in some matches as we head into the fag end of the season.
    Merkel, Trump Voice Concern Over Putin's New Weapons Claims

    Merkel, Trump Voice Concern Over Putin's New Weapons Claims

    The playful offer evokes the Soviet-era tradition of giving the innocuous names to some of the deadliest weapons systems. He added that Sarmat also carries a bigger number of nuclear warheads, which are more powerful than the ones on Satan.
  • Russian cargo plane crashes in Syria, killing all 32 aboard

    Russian cargo plane crashes in Syria, killing all 32 aboard

    It also accommodates flights carrying Russia's humanitarian aid and other cargos to Syria. As per the reports, all 32 people who were on board have died in the incident.
    Sir Roger Bannister: Tributes flood in for man who made impossible possible

    Sir Roger Bannister: Tributes flood in for man who made impossible possible

    With his wife, Moyra Jacobsson, a portrait painter and daughter of a Swedish economist, he had four children. Bannister was chosen as Sports Illustrated's first Sportsman of the Year in 1954.
    Russia's Gazprom asks court to halt Ukraine gas contracts after losing dispute

    Russia's Gazprom asks court to halt Ukraine gas contracts after losing dispute

    Ukraine is the main route for the Russian gas to Europe where Gazprom accounts for around 35 percent of the market share. The decision seriously violates the balance of interests of the parties under these contracts, according to Miller.
  • Teachers say they'll stay out on strike

    Teachers say they'll stay out on strike

    Democrats say their Republican counterparts should abide by the deal the governor negotiated with the union for a 5 percent raise. A conference committee of both the state House and Senate has yet to address two different bills aimed at ending the strike.
    Netanyahu grilled again on fraud case

    Netanyahu grilled again on fraud case

    Prime Minister Benjamin Netanyahu aboard the new submarine "Rahav" at the Israeli navy base in Haifa, on January 12, 2016. If investigators discover a promise for favorable coverage, Sarah Netanyahu could be charged.
    Slovak police detain 7 over slain journalist

    Slovak police detain 7 over slain journalist

    Two of those mentioned by Kuciak resigned Tuesday, although they denied any connection to organized crime or the killings. He, like fellow murdered Maltese journalist Daphne Caruana Galizia , worked on the Panama Papers scandal.
  • FDA Approves 1st Home Test for Breast Cancer Genes

    FDA Approves 1st Home Test for Breast Cancer Genes

    Along with the approval, the FDA is setting up special controls to ensure the test's accuracy and performance, the agency said. BRCA mutations are not the only genetic mutation that raise the risk of breast or ovarian cancer.
    After DACA Deadline Passes, Thousands Demand Action to Protect 'Dreamers'

    After DACA Deadline Passes, Thousands Demand Action to Protect 'Dreamers'

    Lawmakers had every opportunity to legislate a fix, but the fate of Dreamers has proved too divisive for Congress to resolve. With partisanship roiling Capitol Hill, that appeared increasingly unlikely.
    Landing Cousins Won't be Easy for the Jets

    Landing Cousins Won't be Easy for the Jets

    As the start of free-agent season approaches, rumors about quarterbacks available in the market continue to swirl. That means that Teddy Bridgewater , Sam Bradford and Case Keenum will all be hitting the market.


International Women's Day: NEU demands action on teaching gender pay gap
In 2013, LVMH signed the United Nations Women's Empowerment Principles, making this the company's second worldwide commitment. The theme as proclaimed by UN Women is "Time is Now: Rural and urban activists transforming women's lives".

Target (TGT) Issues Q1 Earnings Guidance
Excluding special items, the company announced adjusted income from continuing operation of $ 0.75 billion or $ 1.37 per share. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website .

Chelsea players fear Conte is pushing Hazard out of Stamford Bridge
I can tell my team-mates to stop De Bruyne or [Sergio] Aguero but they have 11 players, they are not just two players. This version of Manchester City are always going to be favourites against nearly every side they face.

Trump might attend inauguration of new American embassy in Jerusalem
Case 2000, police said, involved deals made between Netanyahu and Arnon Mozes, publisher of the Israeli daily Yedioth Ahronoth. Trump said he believed the Palestinians are "wanting to come back to the table very badly" - but did not expand on that claim.

US President Trump hails 'possible progress' with North Korea
North Korea has talked about denuclearization before, but promises fell through before implementation. Pence says the US will be firm in its resolve, whatever the direction of any talks with North Korea .

Former Russian spy critically ill in UK
In 2006, Russian dissident Alexander Litvinenko died after drinking tea laced with radioactive polonium-210 at a London hotel. Russian Federation said Col Skripal had been paid $100,000 for the information, which he had been supplying from the 1990s.

USA carrier arrives in Vietnam for first time since war
The former Coast Guard cutter Morgenthau was transferred to Vietnam past year , becoming the largest ship in the nation's fleet. Vietnamese leaders agreed to the four-day port call during President Donald J.

No mistaking Sharma's identity as one to watch
American List got into trouble off the tee as his drive on 18 went right and landed in the middle of a small cluster of trees. Mickelson enjoyed a blemish-free round but did make one error earlier in the day.

Houston Rockets vs. Boston Celtics - 3/3/18 NBA Pick, Odds, and Prediction
Paul George added 21 points. "I just thought they maximized more possessions than we did", Boston coach Brad Stevens said. Irving made a layup seconds later, but Harden made one of two free throws with 7.4 seconds left to make it 120-117.

Gymnast Aly Raisman Sues US Olympic Committee Over Nassar Abuse
Olympic system had "failed" the hundreds of young female athletes who were sexually abused by Nassar. National Team Kamerin Moore , also claims Nassar abused her under the guise of medical treatment.