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US tariffs

China’s exports hold up despite US tariffs

BEIJING: China’s exports to the United States and the rest of the world saw a surprise jump in October, data showed on Thursday, suggesting businesses are ramping up trans-Pacific shipments before higher tariffs kick in. Relations between the world’s top two economies have soured sharply this year as US President Donald Trump slapped higher taxes on roughly half of Chinese imports and threatened to hit the other half. Top Chinese officials are currently in Washington, with hopes that those talks could pave the way for…

Asian markets mostly down, trade war fears back in headlines

Asian markets mostly fell Tuesday with Hong Kong and Shanghai stocks sinking following a report that the White House is preparing to impose tariffs on all its Chinese imports, throwing the trade war back into the spotlight. The story added to skittishness across trading floors, where investors are already fretting over a number of issues including geopolitical tensions, rising US interest rates, slowing growth, Brexit and Italy´s budget standoff with the EU. Wall Street provided another negative lead, with the S&P…

US to impose tariffs on $200 bn in Chinese goods: reports

WASHINGTON: US President Donald Trump has decided to impose tariffs on $200 billion in Chinese imports and could make the announcement in the coming days, US media reported. Citing anonymous sources, The Washington Post and The Wall Street Journal reported that the tariffs would be set at 10 per cent. Trump has already imposed 25 per cent tariffs on steel imports and 10 per cent on aluminium, as well as 25 per cent on $50 billion in goods from China. The prospect of new tariffs undercuts hopes of an imminent…

China promises retaliation if US imposes more tariffs

BEIJING:China on Monday promised retaliation if U.S. President Donald Trump escalates their tariff battle, raising the risk Beijing might target operations of American companies as it runs out of imports for penalties.  The threat came after Trump said Friday he was considering extending penalties to an additional $267 billion of Chinese products in their battle over Beijing’s technology policy. That would be on top of $50bn of goods already hit by 25 per cent duties and another $200bn on which Washington is poised to…

Trump poised to tax an additional $200bn Chinese imports

WASHINGTON: The Trump administration may be about to slap tariffs of up to 25 per cent on an additional $200 billion in Chinese goods, escalating a confrontation between the world’s two biggest economies and likely squeezing US companies that import everything from handbags to bicycle tires. The administration could decide to begin taxing the imports equal to nearly 40pc of all the goods China sold the United States last year after a public comment period ends Thursday. China said it is ready to impose retaliatory…

Canada hits back at US on tariffs, says it will not back down

OTTAWA: Canada struck back at the Trump administration over US steel and aluminum tariffs on Friday, vowing to impose punitive measures on C$16.6 billion ($12.63 billion) worth of American goods until Washington relents. The announcement by Foreign Minister Chrystia Freeland marks a new low in ties between the neighbors and trading partners which have become increasingly strained since U.S. President Donald Trump took power in January 2017. The Canadian tariffs will come into effect on July 1 and largely target U.S.…

In bombshell, Trump says US backs out of G7 communique, criticises Trudeau

LA MALBAIE: U.S. President Donald Trump on Saturday threw the G7’s efforts to show a united front into disarray after he became angry with Canadian Prime Minister Justin Trudeau, and said he might double down on import tariffs by hitting the sensitive auto industry. Trump’s bombshell announcement that he was backing out of the Group of Seven communique, made after he left the summit in Canada early, torpedoed what appeared to be a fragile consensus on the trade dispute between Washington and its top allies. “PM Justin…