Tuesday, June 3, 2025
Germany Latest News
  • Sports
  • USA
  • Asia
  • Health
  • Life Style
  • Tech
  • Science
  • Latin America
  • Africa
  • Europe
No Result
View All Result
Germany Latest News

US-China trade war escalates with £16bn of new tariffs

by The Editor
August 23, 2018
in USA
0
US-China trade war escalates with £16bn of new tariffs

The United States and China have imposed a fresh round of tariffs on an additional $16bn (£12bn) of each other's goods.

The 25% levies took effect as officials from the economic superpowers met for talks in Washington over the escalating trade war.

They follow last month's first round of tariff increases of the same size by both sides on $34bn (£26bn) of each other's imports – taking the total to $50bn (£39bn).

The US was the first to impose the latest round of tariffs on goods including plastics and chemicals, which China vowed to "counter-attack" with levies on products such as steel, coal and medical equipment.

Beijing criticised the US increase as a violation of World Trade Organisation rules and said it would file a new complaint to the body.

US president Donald Trump has threatened to target all $500bn of Chinese imports unless Beijing agrees to sweeping changes to its intellectual property practices over what his administration alleges are unfair trade practices.

China denies the allegations and its state media has said Beijing will not be cowed by Washington's threats.

1:10
Video: Farmers hit by tariffs but back Trump

China exported goods worth $505.5bn to the US in 2007, compared with $129.9bn of American goods sent to China.

Mr Trump has also increased tariffs on imports from the EU and other countries including Canada and Mexico as he pushes ahead with his campaign pledge to protect American jobs. He has described trading relationships with his neighbours and allies as unfair.

The trade war risks significantly raising prices for consumers, while global stock markets, which have largely ignored Mr Trump's complaints as "bluster" and a negotiating ploy, are getting more jittery as nations retaliate.

The International Monetary Fund has warned the escalating trade dispute threatens to derail the global economic recovery and growth.

Mr Trump's tariffs and retaliation by trading partners could cut global economic output by 0.5% from projections for 2020.

That translates to almost $500bn in lost annual output.

More from China

"The risk that current trade tensions escalate further with adverse effects on confidence, asset prices and investment is the greatest near-term risk to global growth," IMF chief economist Maury Obstfeld told a news conference last month.

Still pending is the possibility of new duties on an additional $200bn worth of Chinese imports, which are the subject of public hearings in Washington this week.

Original Article

Sky News

Related posts

Three ways Trump may try to delay or dismiss documents trial

Three ways Trump may try to delay or dismiss documents trial

June 14, 2023
Man indicted on murder charge in rapper Takeoff’s shooting death

Man indicted on murder charge in rapper Takeoff’s shooting death

May 27, 2023

The United States and China have imposed a fresh round of tariffs on an additional $16bn (£12bn) of each other's goods.

The 25% levies took effect as officials from the economic superpowers met for talks in Washington over the escalating trade war.

They follow last month's first round of tariff increases of the same size by both sides on $34bn (£26bn) of each other's imports – taking the total to $50bn (£39bn).

The US was the first to impose the latest round of tariffs on goods including plastics and chemicals, which China vowed to "counter-attack" with levies on products such as steel, coal and medical equipment.

Beijing criticised the US increase as a violation of World Trade Organisation rules and said it would file a new complaint to the body.

US president Donald Trump has threatened to target all $500bn of Chinese imports unless Beijing agrees to sweeping changes to its intellectual property practices over what his administration alleges are unfair trade practices.

China denies the allegations and its state media has said Beijing will not be cowed by Washington's threats.

1:10
Video: Farmers hit by tariffs but back Trump

China exported goods worth $505.5bn to the US in 2007, compared with $129.9bn of American goods sent to China.

Mr Trump has also increased tariffs on imports from the EU and other countries including Canada and Mexico as he pushes ahead with his campaign pledge to protect American jobs. He has described trading relationships with his neighbours and allies as unfair.

The trade war risks significantly raising prices for consumers, while global stock markets, which have largely ignored Mr Trump's complaints as "bluster" and a negotiating ploy, are getting more jittery as nations retaliate.

The International Monetary Fund has warned the escalating trade dispute threatens to derail the global economic recovery and growth.

Mr Trump's tariffs and retaliation by trading partners could cut global economic output by 0.5% from projections for 2020.

That translates to almost $500bn in lost annual output.

More from China

"The risk that current trade tensions escalate further with adverse effects on confidence, asset prices and investment is the greatest near-term risk to global growth," IMF chief economist Maury Obstfeld told a news conference last month.

Still pending is the possibility of new duties on an additional $200bn worth of Chinese imports, which are the subject of public hearings in Washington this week.

Original Article

Sky News

Previous Post

Gender Studies Is Not Welcome In Hungary

Next Post

Man’s racist rant sparks social media outcry

Next Post
Man’s racist rant sparks social media outcry

Man's racist rant sparks social media outcry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

De Vanna weighs up whether to play on or retire after World Cup

De Vanna weighs up whether to play on or retire after World Cup

6 years ago
Death row inmate has no right to ‘painless death’

Death row inmate has no right to ‘painless death’

6 years ago
Viktor Orbán criticizes EUs coronavirus crisis response

Viktor Orbán criticizes EUs coronavirus crisis response

5 years ago
Fittler’s Blues suffer double injury blow

Fittler’s Blues suffer double injury blow

7 years ago

FOLLOW US

  • 139 Followers
  • 87.2k Followers
  • 202k Subscribers

BROWSE BY CATEGORIES

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • AI
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

BROWSE BY TOPICS

2018 League Bali United Beijing BlackBerry Brazil Broja Budget Travel Bundesliga California Champions League Chelsea China Chopper Bike Coronavirus COVID COVID-19 Crime Doctor Terawan EU France French German Istana Negara Italy Kazakhstan Market Stories Mexico National Exam Nigeria Omicron Pakistan Police protests Qatar Ronaldo Russia Smart Voting Sweden TikTok Trump UK Ukraine US vaccine Visit Bali
No Result
View All Result

Recent Posts

  • AI Girlfriends as Creative Writing Partners
  • OnlyFans Platform Analysis
  • How to Day German Fashion
  • Southeast Continental Capabilities
  • What is a Mail Order Wife?

Categories

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • AI
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

Tags

2018 League Bali United Beijing BlackBerry Brazil Broja Budget Travel Bundesliga California Champions League Chelsea China Chopper Bike Coronavirus COVID COVID-19 Crime Doctor Terawan EU France French German Istana Negara Italy Kazakhstan Market Stories Mexico National Exam Nigeria Omicron Pakistan Police protests Qatar Ronaldo Russia Smart Voting Sweden TikTok Trump UK Ukraine US vaccine Visit Bali
Federal Government focuses on “integrated security”
latest news

Federal Government focuses on “integrated security”

by The Editor
June 14, 2023
0

Berlin (dpa) – The Federal Government is responding to the challenges of an increasingly unstable world order by means of a “policy...

Read more

Recent News

  • AI Girlfriends as Creative Writing Partners
  • OnlyFans Platform Analysis
  • How to Day German Fashion

Category

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • AI
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

Recent News

AI Girlfriends as Creative Writing Partners

May 30, 2025

OnlyFans Platform Analysis

June 12, 2024
  • About
  • Advertise
  • Careers
  • Contact

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Sports
  • USA
  • Asia
  • Health
  • Life Style
  • Tech
  • Science
  • Latin America
  • Africa
  • Europe

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.