Trump determined to hit China as tit-for-tat tariff war erupts

Trump promises Apple he won’t put tariff on iPhones

Trump promises Apple he won’t put tariff on iPhones

The US president said the tariffs would be imposed if China "refuses to change its practices". "China has been taking out 500 billion United States dollars a year out of our country and rebuilding China", Trump said in his address to the National federation of Independent Businesses.

The two sides have been involved in negotiations with China offering to buy $70 billion dollars in US goods.

China said it will take "qualitative" and "quantitative" measures if the U.S. government publishes an additional list of tariffs.

China's commerce ministry immediately responded by saying the usa "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed global society".

Economists complain that Trump's efforts to reduce America's deficit are misguided, saying the gap in trade with China reflects the underlying economy. Shanghai stocks plunged to two-year lows. That might cut into demand for the device, acting as an extra tax on US consumers, but it would protect Apple's profit margins on its popular smartphone line.

Macron and Merkel address the press after European Union reform talks
Rogan, a Washington Examiner commentary writer, explained that Merkel is facing a "populist pushback" within her own ranks. But "we want finally to have a sustainable solution for turning back refugees at our borders".

The Trump tariffs, which the USA government says are punishment for intellectual property theft, will be enacted in two waves.

After Mr Trump's announcement, China rolled out retaliatory tariffs on $50 billion worth of United States goods and promised to stand firm against U.S. actions.

It was retaliation, Trump said, for China's decision to raise tariffs on US$50 billion in United States goods, which came after Trump announced similar tariffs on Chinese goods on Friday.

The Dow Jones industrials are down 291 points, or 1.2 percent, to 24,697, after dropping more than 400 points in morning trading.

WATCH: Freeland "strong, measured" retaliatory tariffs to be imposed on U.S. Those are set to take effect next month. But that meeting and several rounds of trade talks between high-level officials in the past year have not yielded any progress. He argued the US steps will ultimately benefit the country and global trading system.

Former Trump aide ordered to jail after bail revoked
Prosecutors argued on Friday that Manafort could continue to engage in alleged criminal activity if he is not jailed. Andres replied that "it's inconceivable that he ( Manafort ) doesn't know that they're potential witnesses".

Stocks are trading lower at midday Tuesday on fresh worries about a trade dispute between the US and China, although they've recovered somewhat from an early slump.

In a separate statement, Lighthizer said that he supported Trump's action and that his agency "is preparing the proposed tariffs to offset China's action".

Pimchanok Vonkorpon, director-general of the Commerce Ministry's Trade Policy and Strategy Office, said the trade rift will result in more demand for imports from Thailand.

Navarro also disputes any notion that the trade standoff would damage the broader relationship with China.

Pompeo on Monday described USA actions as "economic diplomacy, " which, when done right, strengthens national security and global alliances, he added.

TECH and HEALTH - 'OnePlus 6' hits 1 mn sales mark globally
Since the majority of Americans buy their phones directly from the network, it severely limits the availability of the OnePlus 6 . The other aspect that helped them be successful is the long-term partnership with Qualcomm, Amazon and a few carriers such as O2.

Up north, Toronto's TSX dropped 78.8 points to hover at 16,304 and the Russell 2000 index of small-cap stocks lost nearly 9 points to cling to 1,683.

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