U.S. blacklists China's Huawei as trade dispute clouds global outlook

Financial Markets Wall Street Download Comp Tag as... Cancel Apply Back to search results1of50,610 results FINANCIAL MARKETS WALL STREET Overview Download now Market maker Thomas Brown follows stock prices at the New York Stock Exchange Monday May 13

-China tariff war "a little squabble", even as his administration readies 25% duties on all remaining Chinese imports. "The president has instructed us to try to figure out a solution", Mnuchin told the Senate panel, calling resolution of the higher tariffs on aluminum and steel a "very important part" of passing the new trade deal. "We can and we must", Li said.

"We are in a fantastic position", he wrote on Twitter, calling on U.S. companies to make more products in the United States and praising his tariffs on imported steel for boosting domestic producers. However, it's more likely that a protracted trade war would hurt the region both economically and politically.

Beijing is determined to win the trade war with the United States though it does not want the economic conflict to grow in intensity, China's Foreign Ministry spokesman said after the two countries again exchanged tariffs on each other's imports.

The Dow Jones Industrial average was up 1.28% while the broader S&P 500 was up 1.3%. 'China is not a small country and does not earn our daily bread from US only'. "But a lot of it's tied to this so, right now, this is working I happen to think, and I think Trump believes and the people around Trump believe it's going to continue to work".

U.S. President Donald Trump on Wednesday declared a national emergency to ban American companies from using telecom technology and services provided by entities considered a national security threat, a move apparently targeting China's Huawei Technologies Co.

In retaliation, China also increased existing tariffs on about $60 billion of USA imports effective from June 1, leading to a hike in the trade war between both the countries.

The administration a year ago offered $12 billion in compensation to American farmers and has vowed to do more, using the revenues from the new tariffs - which he incorrectly claims is paid by China rather than United States importers - to buy crops and support prices.

U.S. House of Representatives Speaker Nancy Pelosi said she had a "productive meeting" with Lighthizer that was nearly entirely focused on the USMCA deal, one of her aides said. Considering only these "first-order" effect of the tariffs underestimates their true economic cost, however, as "second-order" effects can be powerful and may help explain the pullback in risk appetite we've seen in global markets. He said that Trump expects to meet with Chinese President Xi Jinping at the Group of 20 leader's summit in Japan on June 28-29. -China dispute stalled last week, the United States ratcheted up the pressure by increasing tariffs on a list of $200 billion worth of Chinese imports to 25% from 10%.

USTR is conducting a full review of the proposed action through a comment and hearing process. The list may include a wide range of consumer goods, from cellphones and computers to clothing and footwear.

And the two markets most affected by U.S.

"In the Sino-US trade war, the US side fights because of greed and arrogance", read a Monday op-ed by the Global Times, published on Xinhua News.

Calling on the United States to "carefully weigh its gains and losses, grasp the situation and get back on the right track as soon as possible", Geng urged the USA side to meet China halfway in achieving a mutually beneficial and win-win agreement on the basis of mutual respect.

In China, the Shanghai Composite Index lost 0.7% and the blue chip CSI 300 fell 0.6% Tuesday but found support after Chinese state-backed purchases.

China's finance ministry released a statement: "China's adjustment on additional tariffs is a response to US unilateralism and protectionism".

The Trump administration has for months tried to persuade allies not to allow China a role in building next-generation 5G mobile networks, warning that doing so would result in restrictions on sharing of information with the United States.

America's "morale will break at any time", the article thundered, adding that "China is fighting back to protect its legitimate rights and interests".

China's economy looked to have had its growth slow sharply in April, the last month before new USA trade war tariffs take effect, with both industrial production and retail sales growth posting significant declines.

Related News:



Most liked

Uber announces major Black and Black SUV enhancements, including Quiet Mode
Uber is introducing a new in-app way to opt out of a conversation with your driver in the most polite way possible. The giant ride-hailing company has not yet made a profit, despite its multibillion-dollar valuation.

PG&E Equipment Sparked Deadly California Wildfire
The cause of the second fire was determined to be vegetation into electrical distribution lines owned and operated by PG&E. PG&E's bankruptcy reorganization plan is due by the end of May, but it has requested an extension until November.

Facebook is cracking down on live-streaming with bans for rule breakers
Fewer than 200 people watched the live stream during the attack, which Facebook said it removed 29 minutes after it began. The White House has not said whether it will sign the document, and a spokesman declined to comment Tuesday.

How much coffee is too much? New study reveals
A diet high in potassium and magnesium-rich foods like fresh fruits and vegetables is encouraged and also the use of supplements. The researchers identified increased risks of cardiovascular disease in line with coffee consumption and genetic variations.

Dramatic scuffle ends with police officer fatally shooting 'pregnant' woman
As he tried to put handcuffs on her, Turner yelled, "I'm walking, I'm actually walking to my house", in the video. An investigation is underway after a Texas police officer shot and killed a woman he was trying to arrest.

The new Apple TV app available in over 100 countries
Along with India, US, Canada, Nepal, select African as well as Middle Eastern countries are also getting Apple's TV app . In the USA the service will offer access to Starz, Smithsonian Channel, Epix, Tastemade and new services like MTV Hits.

Rory McIlroy could have edge at Bethpage Black
John Daly is considered one of the most outlandish golfers both on and off the course. "It's hard to win majors", Johnson said. There have been a couple of close calls since then - including a second place at last year's British Open.

Netflix will be talking games development at E3 2019
You get the house's front façade, but in the back are multiple rooms, including Will's bedroom. The attic space includes a Mind Flayer drawing and a wizard hat for "Will the Wise".

Mariana Trench: Deepest-ever sub dive finds plastic bag
Vescovo's next challenge is to reach the bottom of the Arctic Ocean, which he plans to do in August. Down there he found wonderful sea creatures, but also found a plastic bag and sweet wrappers .

'Star Wars' movie in 2022 will come from 'Game of Thrones' creators
Weiss, who are famous for Game of Thrones , and the next movie we release will be theirs. "So we're not doing nothing". It's amusing that Iger is basically like, "we have so much money, sure, we'll probably make another Star War ".

Donald Trump on Trade 'Squabble' with China: 'We Always Win'
At the same time, China is vowing not to succumb to such pressure. "They have not been fair traders". It's not clear to me that the president's policies are addressing that, but we'll see.

Lankan Techie, Under Indian Surveillance, Key In Bombings
The Islamic State group claimed responsibility for the attacks, which were carried out by radicalised local Muslims. Homes and mosques were also vandalised by large groups of people armed with sticks and weapons.

Daniel Craig reportedly hurt on Bond set
The movies, however, don't go into his dark side as much, probably due to the fact the story wouldn't be as successful as a film. We'll see if, after this latest setback, the still-untitled Bond 25 will make its April 8, 2020 release date.

Jimmy Carter Breaks Hip in Fall
The center has monitored elections around the world and worked to resolve conflicts and eradicate disease, including guinea worm. Carter announced in 2015 that doctors had discovered a form of melanoma that had spread to his brain.

New Acas advice on creating a positive mental health environment at work
In particular, 17% failed to deliver products or services due to an employee suffering from mental health issues while at work. She said: "The impact social media can have on a person is extreme".