China unveils additional retaliatory tariffs on $60bn of USA goods

Trump plans to impose 25 percent tariffs on $200B worth of Chinese goods

Trump plans to impose 25 percent tariffs on $200B worth of Chinese goods

United States threats have escalated since, with the President saying he is ready to impose tariffs on all $500bn of Chinese imports.

"China is fully prepared for the United States' threats to escalate the two countries' trade war and will have to fight back to defend its dignity and the interests of its people", said the statement posted on the Ministry of Commerce's website on Thursday.

Wang Yi, the Chinese government's top diplomat, said USA efforts to pressure China would be in vain, urging its trade policymakers to "calm down".

But the move drew swift condemnation from USA business lobby groups anxious that tit-for-tat tariffs would start to hamper economic growth.

This is perhaps why the Trump administration is playing hard ball choosing this precise moment to threaten a second round of 25 percent tariffs on US$200 billion worth of Chinese goods.

Don Lemon Claps Back After Trump Attack: 'Who's the Real Dummy?'
This recent feud with the most powerful man in the world started when James accused Trump of dividing the nation through sports . Late last night, President Trump took to Twitter to attack two prominent African American stars ; Lebron James and Don Lemon .

Trump has threatened to escalate the conflict even more by taxing virtually all of the $500 billion worth of goods China ships annually to the United States.

But the president is losing his trade war based on Trump's own preferred statistic-U.S. the trade deficit-which has continued to grow both in overall terms and with respect to China specifically.

The review period for USA tariffs on the next $16 billion of Chinese imports ended Tuesday, but senior administration officials said a decision had not been made yet on when or whether to impose them.

Logic suggests that if the trade dispute does continue to drag on China's economic performance, eventually steel will join copper in trending lower.

The Trump administration plans to raise pending tariffs on $200 billion in Chinese goods to 25% from 10%, a source familiar with discussions confirmed to CNN.

U.S. issues sanctions over jailed pastor Andrew Brunson
Anticipation of the USA sanctions had already helped to send the Turkish lira to an all-time low against the dollar on Wednesday. He stands accused of carrying out activities on behalf of two organisations Ankara considers terror groups.

- Dollars rises as White House ups ante in US-China trade spat. The Trump administration last week announced a $12 billion package to ease the pain on farmers.

China's Foreign Ministry spokesperson Geng Shuang responded to questions Wednesday about the possibility of the USA raising tariffs on $200 billion in goods. "Regrettably, instead of changing its harmful behavior, China has illegally retaliated against USA workers, farmers, ranchers and businesses".

Hearings are scheduled for Aug. 20 to 23 and the comment period has been extended to September 5 from late August, according to Lighthizer's office. "25 percent on $200 billion, if it comes to pass, is $50 billion a year", Ross said of the proposed hike in tariffs in an interview with Fox Business News, adding that the impact would not "be cataclysmic".

"Our door for dialogue is always open".

The Chinese have already proposed buying more US goods in order to settle the dispute, only to have the White House-which wants to win a broader argument about intellectual property and subsidies-reject the proposal.

'Very positive signals' after U.S., Taliban talks
They added that there were "very positive signals" from the meeting , and that it was held in a "friendly atmosphere". His release was eventually secured in May 2014 in exchange for the five Taliban prisoners, who are living in Doha.

Meanwhile, in corporate America, it appears that there is just one thing executives are talking about: tariffs.

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